OREMAVEN
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2026-11-06
◂ Monitor ELT ASX

Elementos Limited

DFS Unfunded Developer · Tin · Tungsten · Spain · Australia Rating locked: sign in to view v6.2
Last 2026-11-06
A$0.365
1D
—
1M
—
YTD
—
1Y
—
Upside
Locked: sign in to view
Mkt cap
A$160M
EV
A$119.7M
Cash
A$40.3M
Debt
A$0
4 newer ASX announcements not yet reflected in this valuation

Funding, performance and ownership

Financials & Capital

As of 2026-06-30
Cash A$40.3M Finite
Debt A$0 Net cash A$40.3M
Basic shares 438.3M 2026-07-23
Runway 65 quarters June 2026 Appendix 5B: A$42.283m cash plus undrawn facility divided by A$0.647m quarterly relevant outgoings; excludes A$260m construction capex.

Liquidity

Financial position

A$40.283m June cash and nil drawn facility fund study and permit work, but cannot alone fund Oropesa's A$260m DFS construction budget.

Capital structure

Ownership and dilution

Ordinary shares
438.3M
Fully diluted
454.4M

July ASX forms show 438,306,375 ordinary shares, 11.45m options and 4.68m rights; gross fully diluted count assumes all convert, without treasury-stock proceeds. Later annual report contents unavailable.

Security classes3
ClassTypeQuantityStrikeExpiry
ASX ordinary fully paid sharesOrdinary Share438.3M——
Unlisted options, various strikes and datesOption11.4M——
Unlisted performance rightsPerformance Right4.7MA$0—

Capital history

Capital events

2 events · newest first
DateEventAmountSharesPriceStatusTerms
2026-06-30Ann. 2026-07-23RaisingA$1.1M——Completed—
2026-02-19RaisingA$29.5M86.8M—Completed—

Contracts and ownership

Material economic arrangements These are deals that can affect sales, costs, funding or ownership. An arrangement marked “Included in valuation” may already be built into a project estimate or the bridge to shareholder value. A separate amount is shown only when one can be estimated; do not add it again.

Partial · as of 2026-09-26

2025 annual report and later smelter updates reviewed; September 2026 annual report contents not accessible. No current priced offtake or hedge terms found in reviewed issuers.

SPIB holds a 1.35% net smelter royalty on Oropesa; DFS royalty line is retained in restated NAV.

Royalty · Active
Counterparties
SPIB
Applies to
Oropesa Tin Project · Tin
Economic direction
Burden
Period
Dates not stated
Key terms
net smelter royalty: 1.35 %
How it affects our valuation

No valuation treatment is available for this arrangement.

SPIB may elect a 4% interest in the Spanish project subsidiary at FID; model assumes this conversion.

Other · Conditional
Counterparties
SPIB
Applies to
Oropesa Tin Project · Tin
Economic direction
Burden
Period
Dates not stated
Key terms
conditional project subsidiary interest: 4 %
How it affects our valuation

No valuation treatment is available for this arrangement.

Unconditional option for up to half of Iberian Smelting; current ownership remains nil and exercise remains discretionary.

Other · Active
Counterparties
CRM Synergies S.L. · Iberian Smelting S.L.
Applies to
Robledollano Tin Smelter · Tin
Economic direction
Mixed
Period
2025-10-13 to 2030-10-13
Key terms
maximum interest: 50 %
total consideration: 3,625,000 EUR
remaining fee due January 2027: 620,000 EUR
How it affects our valuation

No valuation treatment is available for this arrangement.

Atlantic Copper funded industrial testwork on lower-grade ore and waste; no priced offtake or commercial processing term disclosed.

Strategic Partnership · Active
Counterparties
Atlantic Copper S.L.U.
Applies to
Oropesa Tin Project · Tin
Economic direction
Benefit
Period
From 2025-03-01; no end date stated
Key terms
funded testwork: —
How it affects our valuation

No valuation treatment is available for this arrangement.