OREMAVEN
XMM 7,722.00 -2.63% YTD +5.6% OM ASX 450.55 -2.56% YTD +0.1% OM PRECIOUS 349.20 -2.24% YTD +2.5% OM EX-PREC 418.91 -2.72% YTD -1.1% XAU 4,115.59 +2.31% YTD -4.9% GLD 375.49 +0.81% YTD -5.2% GDX 85.75 +1.37% YTD -0.0% SIL 77.33 -1.00% YTD -7.3% COPX 70.23 -5.81% YTD -1.8% URNM 40.07 -2.79% YTD -27.0%
2026-11-06
◂ Monitor FRS ASX

Forrestania Resources Limited

PFS Developer · Gold · Australia Rating locked: sign in to view v8 · frs-20261009t134950-update
Last 2026-11-06
A$0.32
1D
—
1M
—
YTD
—
1Y
—
Fair value
Locked: sign in to view
Upside
Locked: sign in to view
Mkt cap
A$776.1M
EV
—
Cash
A$7.8M
Debt
A$0
19 newer ASX announcements not yet reflected in this valuation

The closest covered peers

Peer comparison

Evidence cutoff 2026-10-05

Why these peers

Same principal commodity and development stage, ranked by country risk and operating fit.

5 selected
MRT1

Maritana Minerals Limited

GoldDeveloperLower political risk

Australia

Same principal gold exposure, pre-production developer stage and exact lower-risk Australian country-band set.

SHN2

Sunshine Metals Limited

GoldDeveloperLower political risk

Australia

Same principal gold exposure, pre-production developer stage and exact lower-risk Australian country-band set.

BTR3

Brightstar Resources Limited

GoldDeveloperLower political risk

Australia

Same principal gold exposure, pre-production developer stage and exact lower-risk Australian country-band set.

AAR4

Astral Resources NL

GoldDeveloperLower political risk

Australia

Next closest unambiguously study-backed Australian gold developer after sourced readiness exclusions.

AUC5

Ausgold Limited

GoldDeveloperLower political risk

Australia

Next ranked unambiguously study-backed Australian gold developer after AAR, with same gold, developer stage, lower-risk Australian country set, 100% project ownership and partly-funded profile.

Country bands use historical World Bank political-stability observations from 2023.

Selected valuation and operating metrics

At a glance

MetricFRSYour stockMRTSHNBTRAARAUCPeer median
Enterprise value—Cash / net-debt bridge unresolved2026-09-25A$49.48m2026-09-25A$118.9m2026-09-25A$540m2026-09-25A$261m2026-09-25A$659.7m2026-09-25A$261m5 comparable peers
EV / attributable study NPV—Study NPV unavailableDate unavailable—Study NPV unavailableDate unavailable—Study NPV unavailableDate unavailable—Study NPV unavailableDate unavailable—Study NPV unavailableDate unavailable—Study NPV unavailableDate unavailable—0 comparable peers
EV / attributable resources—EV and resource total unresolved2026-09-25—Resource total unresolved2026-09-25—Resource total unresolved2026-09-25—Resource total unresolved2026-09-25—Resource total unresolved2026-09-25—Resource total unresolved2026-09-25—0 comparable peers
Equity valueA$739.7m2026-09-25A$279m2026-09-25A$129.5m2026-09-25A$648.2m2026-09-25A$325.6m2026-09-25A$725.7m2026-09-25—0 comparable peers
Study unit cost3,293 AUD/oz AISC2026-09-183,353 AUD/oz AISC2026-02-17—Input unavailableDate unavailable2,998 AUD/oz AISC2026-01-292,085 AUD/oz AISC2025-06-252,252 AUD/oz AISC2025-12-16—0 comparable peers

A dash means unavailable. Medians appear only with four compatible peers. Dates refer to each observation.

What the differences mean

The fair-value thesis

The fair-value thesis

What the peer differences mean for our fair value is available to subscribers.

Sign in or enter a guest code
Evidence and methodologySources, dates and calculations

Selected metrics: Retain the three mandatory developer valuation metrics even when unavailable. Add ordinary-share market capitalization as observable equity-value context while EV remains unresolved, explicitly distinguishing equity value from enterprise value. Add forecast main-asset study AISC as qualified operating context because gold identity and AISC units align, while designs, dates, cost inclusions and price assumptions differ. Price/base fair value already appears in the headline and is not repeated as a row. Cash, dilution and inventory remain audit/context inputs. No compatible chart cohort or peer-derived target is warranted. Independent valuation conclusions remain unchanged.

Enterprise value
FRS · —

Cash / net-debt bridge unresolved. A$7.763m FY2026 audited cash is a June checkpoint. The A$310m placement and A$210m Edna May cash purchase completed in September; A$22.822m June payables, A$4.914m deferred Hyden consideration and subsequent spending prevent a verified September cash balance. · 2026-09-25 193211718867

MRT · A$49.48m

documented admitted EV bridge; capital inputs retain original dates · 2026-09-25 3025242322212029

Calculation inputs
[
  {
    "as_of_date": "2026-09-25",
    "basis": "reported",
    "comparability_key": "AUD|None|company|reported",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "MRT:mrt_market_20260925"
    ],
    "status": "available",
    "unit": "AUD",
    "value": 49481254.5
  },
  {
    "as_of_date": "2026-09-25",
    "basis": "ordinary shares; capital as of 2026-08-06",
    "comparability_key": "AUD|None|company|ordinary shares; capital as of 2026-08-06",
    "formula": "multiply",
    "inputs": [
      {
        "as_of_date": "2026-09-25",
        "basis": "local daily_stock_prices close / 1000000",
        "comparability_key": "AUD/share|None|company|local daily_stock_prices close / 1000000",
        "formula": null,
        "inputs": [],
        "period": null,
        "reason": "",
        "scope": "company",
        "source_ids": [
          "MRT:comparison-local-close-2026-09-25"
        ],
        "status": "available",
        "unit": "AUD/share",
        "value": 0.75
      },
      {
        "as_of_date": "2026-08-06",
        "basis": "reported",
        "comparability_key": "shares|None|company|reported",
        "formula": null,
        "inputs": [],
        "period": null,
        "reason": "",
        "scope": "company",
        "source_ids": [
          "MRT:mrt_2924031096076a1333211",
          "MRT:mrt_2924031114096a1334020",
          "MRT:mrt_2924031129676a1334797",
          "MRT:mrt_2924031187606a1337657"
        ],
        "status": "available",
        "unit": "shares",
        "value": 371963006.0
      }
    ],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "MRT:comparison-local-close-2026-09-25",
      "MRT:mrt_2924031096076a1333211",
      "MRT:mrt_2924031114096a1334020",
      "MRT:mrt_2924031129676a1334797",
      "MRT:mrt_2924031187606a1337657"
    ],
    "status": "available",
    "unit": "AUD",
    "value": 278972254.5
  },
  {
    "as_of_date": "2026-09-25",
    "basis": "reported",
    "comparability_key": "AUD|None|company|reported",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "MRT:mrt_market_20260925"
    ],
    "status": "available",
    "unit": "AUD",
    "value": 278972254.5
  }
]
SHN · A$118.9m

documented admitted EV bridge; capital inputs retain original dates · 2026-09-25 353332314138

Calculation inputs
[
  {
    "as_of_date": "2026-09-25",
    "basis": "reported",
    "comparability_key": "AUD|None|company|reported",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "SHN:market-shn-20260925"
    ],
    "status": "available",
    "unit": "AUD",
    "value": 118895444.432
  },
  {
    "as_of_date": "2026-09-25",
    "basis": "ordinary shares; capital as of 2026-07-30",
    "comparability_key": "AUD|None|company|ordinary shares; capital as of 2026-07-30",
    "formula": "multiply",
    "inputs": [
      {
        "as_of_date": "2026-09-25",
        "basis": "local daily_stock_prices close / 1000000",
        "comparability_key": "AUD/share|None|company|local daily_stock_prices close / 1000000",
        "formula": null,
        "inputs": [],
        "period": null,
        "reason": "",
        "scope": "company",
        "source_ids": [
          "SHN:comparison-local-close-2026-09-25"
        ],
        "status": "available",
        "unit": "AUD/share",
        "value": 0.036
      },
      {
        "as_of_date": "2026-07-30",
        "basis": "reported",
        "comparability_key": "shares|None|company|reported",
        "formula": null,
        "inputs": [],
        "period": null,
        "reason": "",
        "scope": "company",
        "source_ids": [
          "SHN:asx-6a1336372"
        ],
        "status": "available",
        "unit": "shares",
        "value": 3595929012.0
      }
    ],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "SHN:asx-6a1336372",
      "SHN:comparison-local-close-2026-09-25"
    ],
    "status": "available",
    "unit": "AUD",
    "value": 129453444.432
  },
  {
    "as_of_date": "2026-09-25",
    "basis": "reported",
    "comparability_key": "AUD|None|company|reported",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "SHN:market-shn-20260925"
    ],
    "status": "available",
    "unit": "AUD",
    "value": 129453444.432
  }
]
BTR · A$540m

documented admitted EV bridge; capital inputs retain original dates · 2026-09-25 43444648495051

Calculation inputs
[
  {
    "as_of_date": "2026-09-25",
    "basis": "reported",
    "comparability_key": "AUD|None|company|reported",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "BTR:btr-market-2026-09-25"
    ],
    "status": "available",
    "unit": "AUD",
    "value": 540004293.165
  },
  {
    "as_of_date": "2026-09-25",
    "basis": "ordinary shares; capital as of 2026-09-25",
    "comparability_key": "AUD|None|company|ordinary shares; capital as of 2026-09-25",
    "formula": "multiply",
    "inputs": [
      {
        "as_of_date": "2026-09-25",
        "basis": "local daily_stock_prices close / 1000000",
        "comparability_key": "AUD/share|None|company|local daily_stock_prices close / 1000000",
        "formula": null,
        "inputs": [],
        "period": null,
        "reason": "",
        "scope": "company",
        "source_ids": [
          "BTR:comparison-local-close-2026-09-25"
        ],
        "status": "available",
        "unit": "AUD/share",
        "value": 0.585
      },
      {
        "as_of_date": "2026-09-25",
        "basis": "reported",
        "comparability_key": "shares|None|company|reported",
        "formula": null,
        "inputs": [],
        "period": null,
        "reason": "",
        "scope": "company",
        "source_ids": [
          "BTR:btr-2026-app2a-employee",
          "BTR:btr-2026-app2a-rights"
        ],
        "status": "available",
        "unit": "shares",
        "value": 1108063749.0
      }
    ],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "BTR:btr-2026-app2a-employee",
      "BTR:btr-2026-app2a-rights",
      "BTR:comparison-local-close-2026-09-25"
    ],
    "status": "available",
    "unit": "AUD",
    "value": 648217293.165
  },
  {
    "as_of_date": "2026-09-25",
    "basis": "reported",
    "comparability_key": "AUD|None|company|reported",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "BTR:btr-market-2026-09-25"
    ],
    "status": "available",
    "unit": "AUD",
    "value": 648217293.165
  }
]
AAR · A$261m

documented admitted EV bridge; capital inputs retain original dates · 2026-09-25 525857555960

Calculation inputs
[
  {
    "as_of_date": "2026-09-25",
    "basis": "reported",
    "comparability_key": "AUD|None|company|reported",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "AAR:aar-20260925-close"
    ],
    "status": "available",
    "unit": "AUD",
    "value": 260978970.39999998
  },
  {
    "as_of_date": "2026-09-25",
    "basis": "ordinary shares; capital as of 2026-09-01",
    "comparability_key": "AUD|None|company|ordinary shares; capital as of 2026-09-01",
    "formula": "multiply",
    "inputs": [
      {
        "as_of_date": "2026-09-25",
        "basis": "local daily_stock_prices close / 1000000",
        "comparability_key": "AUD/share|None|company|local daily_stock_prices close / 1000000",
        "formula": null,
        "inputs": [],
        "period": null,
        "reason": "",
        "scope": "company",
        "source_ids": [
          "AAR:comparison-local-close-2026-09-25"
        ],
        "status": "available",
        "unit": "AUD/share",
        "value": 0.18
      },
      {
        "as_of_date": "2026-09-01",
        "basis": "reported",
        "comparability_key": "shares|None|company|reported",
        "formula": null,
        "inputs": [],
        "period": null,
        "reason": "",
        "scope": "company",
        "source_ids": [
          "AAR:aar-20260826-cleansing",
          "AAR:aar-20260901-quotation",
          "AAR:aar-20260925-annual"
        ],
        "status": "available",
        "unit": "shares",
        "value": 1808809680.0
      }
    ],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "AAR:aar-20260826-cleansing",
      "AAR:aar-20260901-quotation",
      "AAR:aar-20260925-annual",
      "AAR:comparison-local-close-2026-09-25"
    ],
    "status": "available",
    "unit": "AUD",
    "value": 325585742.4
  },
  {
    "as_of_date": "2026-09-25",
    "basis": "reported",
    "comparability_key": "AUD|None|company|reported",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "AAR:aar-20260925-close"
    ],
    "status": "available",
    "unit": "AUD",
    "value": 325585742.4
  }
]
AUC · A$659.7m

documented admitted EV bridge; capital inputs retain original dates · 2026-09-25 626165676468666970

Calculation inputs
[
  {
    "as_of_date": "2026-09-25",
    "basis": "reported",
    "comparability_key": "AUD|None|company|reported",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "AUC:auc20260925price"
    ],
    "status": "available",
    "unit": "AUD",
    "value": 659717099.79
  },
  {
    "as_of_date": "2026-09-25",
    "basis": "ordinary shares; capital as of 2026-09-21",
    "comparability_key": "AUD|None|company|ordinary shares; capital as of 2026-09-21",
    "formula": "multiply",
    "inputs": [
      {
        "as_of_date": "2026-09-25",
        "basis": "local daily_stock_prices close / 1000000",
        "comparability_key": "AUD/share|None|company|local daily_stock_prices close / 1000000",
        "formula": null,
        "inputs": [],
        "period": null,
        "reason": "",
        "scope": "company",
        "source_ids": [
          "AUC:comparison-local-close-2026-09-25"
        ],
        "status": "available",
        "unit": "AUD/share",
        "value": 1.315
      },
      {
        "as_of_date": "2026-09-21",
        "basis": "reported",
        "comparability_key": "shares|None|company|reported",
        "formula": null,
        "inputs": [],
        "period": null,
        "reason": "",
        "scope": "company",
        "source_ids": [
          "AUC:asx20260713quarter",
          "AUC:asx20260805capital",
          "AUC:asx20260827capital",
          "AUC:asx20260921capital",
          "AUC:asx20260923waiver"
        ],
        "status": "available",
        "unit": "shares",
        "value": 551838466.0
      }
    ],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "AUC:asx20260713quarter",
      "AUC:asx20260805capital",
      "AUC:asx20260827capital",
      "AUC:asx20260921capital",
      "AUC:asx20260923waiver",
      "AUC:comparison-local-close-2026-09-25"
    ],
    "status": "available",
    "unit": "AUD",
    "value": 725667582.79
  },
  {
    "as_of_date": "2026-09-25",
    "basis": "reported",
    "comparability_key": "AUD|None|company|reported",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "AUC:auc20260925price"
    ],
    "status": "available",
    "unit": "AUD",
    "value": 725667582.79
  }
]
EV / attributable study NPV
FRS · —

Study reports undiscounted cash flow, not a supported discounted NPV · Date unavailable 1091211

MRT · —

Study NPV lacks an admitted explicit tax basis and/or discount-rate assumptions · Date unavailable 21

SHN · —

No unique supported study NPV · Date unavailable 363540

BTR · —

No complete supported company study NPV; whole-company EV cannot be allocated to individual projects · Date unavailable 42

AAR · —

No complete supported company study NPV; whole-company EV cannot be allocated to individual projects · Date unavailable 54

AUC · —

No complete supported company study NPV; whole-company EV cannot be allocated to individual projects · Date unavailable 63

EV / attributable resources
FRS · —

Numerator unavailable: Cash / net-debt bridge unresolved. A$7.763m FY2026 audited cash is a June checkpoint. The A$310m placement and A$210m Edna May cash purchase completed in September; A$22.822m June payables, A$4.914m deferred Hyden consideration and subsequent spending prevent a verified September cash balance.; Denominator unavailable: No complete, unambiguous non-overlapping attributable contained-metal total · 2026-09-25 1932117181386912711

Calculation inputs
[
  {
    "as_of_date": "2026-09-25",
    "basis": "documented admitted EV bridge; capital inputs retain original dates",
    "comparability_key": "AUD|None|company|documented admitted EV bridge; capital inputs retain original dates",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "Cash / net-debt bridge unresolved. A$7.763m FY2026 audited cash is a June checkpoint. The A$310m placement and A$210m Edna May cash purchase completed in September; A$22.822m June payables, A$4.914m deferred Hyden consideration and subsequent spending prevent a verified September cash balance.",
    "scope": "company",
    "source_ids": [
      "FRS:comparison-local-close-2026-09-25",
      "FRS:l-2026-07-01-forrestania-secures-a-310m-for-edna-may-acqu",
      "FRS:l-2026-07-28-quarterly-activities-appendix-5b-cash-flow-r",
      "FRS:l-2026-08-07-application-for-quotation-of-securities-frs",
      "FRS:m-frs-close-2026-09-25",
      "FRS:r-annual-2026",
      "FRS:r-cap-sep16",
      "FRS:r-edna-completion",
      "FRS:r-third-bidder"
    ],
    "status": "unavailable",
    "unit": "AUD",
    "value": null
  },
  {
    "as_of_date": "2026-09-24",
    "basis": "attributable contained resources",
    "comparability_key": "|None|company|attributable contained resources|classification:total",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "No complete, unambiguous non-overlapping attributable contained-metal total",
    "scope": "company",
    "source_ids": [
      "FRS:r-british-mre",
      "FRS:r-edna-pfs",
      "FRS:r-johnson-pfs",
      "FRS:r-tycho-pfs"
    ],
    "status": "unavailable",
    "unit": "",
    "value": null
  }
]
MRT · —

Denominator unavailable: No complete, unambiguous non-overlapping attributable contained-metal total · 2026-09-25 3025242322212029

Calculation inputs
[
  {
    "as_of_date": "2026-09-25",
    "basis": "documented admitted EV bridge; capital inputs retain original dates",
    "comparability_key": "AUD|None|company|documented admitted EV bridge; capital inputs retain original dates",
    "formula": "ev_price_bridge",
    "inputs": [
      {
        "as_of_date": "2026-09-25",
        "basis": "reported",
        "comparability_key": "AUD|None|company|reported",
        "formula": null,
        "inputs": [],
        "period": null,
        "reason": "",
        "scope": "company",
        "source_ids": [
          "MRT:mrt_market_20260925"
        ],
        "status": "available",
        "unit": "AUD",
        "value": 49481254.5
      },
      {
        "as_of_date": "2026-09-25",
        "basis": "ordinary shares; capital as of 2026-08-06",
        "comparability_key": "AUD|None|company|ordinary shares; capital as of 2026-08-06",
        "formula": "multiply",
        "inputs": [
          {
            "as_of_date": "2026-09-25",
            "basis": "local daily_stock_prices close / 1000000",
            "comparability_key": "AUD/share|None|company|local daily_stock_prices close / 1000000",
            "formula": null,
            "inputs": [],
            "period": null,
            "reason": "",
            "scope": "company",
            "source_ids": [
              "MRT:comparison-local-close-2026-09-25"
            ],
            "status": "available",
            "unit": "AUD/share",
            "value": 0.75
          },
          {
            "as_of_date": "2026-08-06",
            "basis": "reported",
            "comparability_key": "shares|None|company|reported",
            "formula": null,
            "inputs": [],
            "period": null,
            "reason": "",
            "scope": "company",
            "source_ids": [
              "MRT:mrt_2924031096076a1333211",
              "MRT:mrt_2924031114096a1334020",
              "MRT:mrt_2924031129676a1334797",
              "MRT:mrt_2924031187606a1337657"
            ],
            "status": "available",
            "unit": "shares",
            "value": 371963006.0
          }
        ],
        "period": null,
        "reason": "",
        "scope": "company",
        "source_ids": [
          "MRT:comparison-local-close-2026-09-25",
          "MRT:mrt_2924031096076a1333211",
          "MRT:mrt_2924031114096a1334020",
          "MRT:mrt_2924031129676a1334797",
          "MRT:mrt_2924031187606a1337657"
        ],
        "status": "available",
        "unit": "AUD",
        "value": 278972254.5
      },
      {
        "as_of_date": "2026-09-25",
        "basis": "reported",
        "comparability_key": "AUD|None|company|reported",
        "formula": null,
        "inputs": [],
        "period": null,
        "reason": "",
        "scope": "company",
        "source_ids": [
          "MRT:mrt_market_20260925"
        ],
        "status": "available",
        "unit": "AUD",
        "value": 278972254.5
      }
    ],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "MRT:comparison-local-close-2026-09-25",
      "MRT:mrt_2924031096076a1333211",
      "MRT:mrt_2924031114096a1334020",
      "MRT:mrt_2924031129666a1334796",
      "MRT:mrt_2924031129676a1334797",
      "MRT:mrt_2924031174156a1337081",
      "MRT:mrt_2924031187606a1337657",
      "MRT:mrt_market_20260925"
    ],
    "status": "available",
    "unit": "AUD",
    "value": 49481254.5
  },
  {
    "as_of_date": "2026-08-03",
    "basis": "attributable contained resources",
    "comparability_key": "|None|company|attributable contained resources|classification:indicated_and_inferred,reported,total",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "No complete, unambiguous non-overlapping attributable contained-metal total",
    "scope": "company",
    "source_ids": [
      "MRT:mrt_2924031174156a1337081"
    ],
    "status": "unavailable",
    "unit": "",
    "value": null
  }
]
SHN · —

Denominator unavailable: No complete, unambiguous non-overlapping attributable contained-metal total · 2026-09-25 353332314138

Calculation inputs
[
  {
    "as_of_date": "2026-09-25",
    "basis": "documented admitted EV bridge; capital inputs retain original dates",
    "comparability_key": "AUD|None|company|documented admitted EV bridge; capital inputs retain original dates",
    "formula": "ev_price_bridge",
    "inputs": [
      {
        "as_of_date": "2026-09-25",
        "basis": "reported",
        "comparability_key": "AUD|None|company|reported",
        "formula": null,
        "inputs": [],
        "period": null,
        "reason": "",
        "scope": "company",
        "source_ids": [
          "SHN:market-shn-20260925"
        ],
        "status": "available",
        "unit": "AUD",
        "value": 118895444.432
      },
      {
        "as_of_date": "2026-09-25",
        "basis": "ordinary shares; capital as of 2026-07-30",
        "comparability_key": "AUD|None|company|ordinary shares; capital as of 2026-07-30",
        "formula": "multiply",
        "inputs": [
          {
            "as_of_date": "2026-09-25",
            "basis": "local daily_stock_prices close / 1000000",
            "comparability_key": "AUD/share|None|company|local daily_stock_prices close / 1000000",
            "formula": null,
            "inputs": [],
            "period": null,
            "reason": "",
            "scope": "company",
            "source_ids": [
              "SHN:comparison-local-close-2026-09-25"
            ],
            "status": "available",
            "unit": "AUD/share",
            "value": 0.036
          },
          {
            "as_of_date": "2026-07-30",
            "basis": "reported",
            "comparability_key": "shares|None|company|reported",
            "formula": null,
            "inputs": [],
            "period": null,
            "reason": "",
            "scope": "company",
            "source_ids": [
              "SHN:asx-6a1336372"
            ],
            "status": "available",
            "unit": "shares",
            "value": 3595929012.0
          }
        ],
        "period": null,
        "reason": "",
        "scope": "company",
        "source_ids": [
          "SHN:asx-6a1336372",
          "SHN:comparison-local-close-2026-09-25"
        ],
        "status": "available",
        "unit": "AUD",
        "value": 129453444.432
      },
      {
        "as_of_date": "2026-09-25",
        "basis": "reported",
        "comparability_key": "AUD|None|company|reported",
        "formula": null,
        "inputs": [],
        "period": null,
        "reason": "",
        "scope": "company",
        "source_ids": [
          "SHN:market-shn-20260925"
        ],
        "status": "available",
        "unit": "AUD",
        "value": 129453444.432
      }
    ],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "SHN:asx-6a1323122",
      "SHN:asx-6a1336263",
      "SHN:asx-6a1336266",
      "SHN:asx-6a1336372",
      "SHN:comparison-local-close-2026-09-25",
      "SHN:market-shn-20260925"
    ],
    "status": "available",
    "unit": "AUD",
    "value": 118895444.432
  },
  {
    "as_of_date": null,
    "basis": "attributable contained resources",
    "comparability_key": "|None|company|attributable contained resources|classification:Measured, Indicated and Inferred aggregate; recoverable AuEq,Measured, Indicated and Inferred subset of the Ravenswood total",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "No complete, unambiguous non-overlapping attributable contained-metal total",
    "scope": "company",
    "source_ids": [],
    "status": "unavailable",
    "unit": "",
    "value": null
  }
]
BTR · —

Denominator unavailable: No complete, unambiguous non-overlapping attributable contained-metal total · 2026-09-25 43444648495051

Calculation inputs
[
  {
    "as_of_date": "2026-09-25",
    "basis": "documented admitted EV bridge; capital inputs retain original dates",
    "comparability_key": "AUD|None|company|documented admitted EV bridge; capital inputs retain original dates",
    "formula": "ev_price_bridge",
    "inputs": [
      {
        "as_of_date": "2026-09-25",
        "basis": "reported",
        "comparability_key": "AUD|None|company|reported",
        "formula": null,
        "inputs": [],
        "period": null,
        "reason": "",
        "scope": "company",
        "source_ids": [
          "BTR:btr-market-2026-09-25"
        ],
        "status": "available",
        "unit": "AUD",
        "value": 540004293.165
      },
      {
        "as_of_date": "2026-09-25",
        "basis": "ordinary shares; capital as of 2026-09-25",
        "comparability_key": "AUD|None|company|ordinary shares; capital as of 2026-09-25",
        "formula": "multiply",
        "inputs": [
          {
            "as_of_date": "2026-09-25",
            "basis": "local daily_stock_prices close / 1000000",
            "comparability_key": "AUD/share|None|company|local daily_stock_prices close / 1000000",
            "formula": null,
            "inputs": [],
            "period": null,
            "reason": "",
            "scope": "company",
            "source_ids": [
              "BTR:comparison-local-close-2026-09-25"
            ],
            "status": "available",
            "unit": "AUD/share",
            "value": 0.585
          },
          {
            "as_of_date": "2026-09-25",
            "basis": "reported",
            "comparability_key": "shares|None|company|reported",
            "formula": null,
            "inputs": [],
            "period": null,
            "reason": "",
            "scope": "company",
            "source_ids": [
              "BTR:btr-2026-app2a-employee",
              "BTR:btr-2026-app2a-rights"
            ],
            "status": "available",
            "unit": "shares",
            "value": 1108063749.0
          }
        ],
        "period": null,
        "reason": "",
        "scope": "company",
        "source_ids": [
          "BTR:btr-2026-app2a-employee",
          "BTR:btr-2026-app2a-rights",
          "BTR:comparison-local-close-2026-09-25"
        ],
        "status": "available",
        "unit": "AUD",
        "value": 648217293.165
      },
      {
        "as_of_date": "2026-09-25",
        "basis": "reported",
        "comparability_key": "AUD|None|company|reported",
        "formula": null,
        "inputs": [],
        "period": null,
        "reason": "",
        "scope": "company",
        "source_ids": [
          "BTR:btr-market-2026-09-25"
        ],
        "status": "available",
        "unit": "AUD",
        "value": 648217293.165
      }
    ],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "BTR:btr-2026-05-26-btr-approves-final-investment-decision-at-goldfields-project",
      "BTR:btr-2026-07-30-quarterly-activities-appendix-5b-cash-flow-report",
      "BTR:btr-2026-annual",
      "BTR:btr-2026-app2a-employee",
      "BTR:btr-2026-app2a-rights",
      "BTR:btr-market-2026-09-25",
      "BTR:comparison-local-close-2026-09-25"
    ],
    "status": "available",
    "unit": "AUD",
    "value": 540004293.165
  },
  {
    "as_of_date": null,
    "basis": "attributable contained resources",
    "comparability_key": "|None|company|attributable contained resources|classification:all categories",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "No complete, unambiguous non-overlapping attributable contained-metal total",
    "scope": "company",
    "source_ids": [],
    "status": "unavailable",
    "unit": "",
    "value": null
  }
]
AAR · —

Denominator unavailable: No complete, unambiguous non-overlapping attributable contained-metal total · 2026-09-25 525857555960

Calculation inputs
[
  {
    "as_of_date": "2026-09-25",
    "basis": "documented admitted EV bridge; capital inputs retain original dates",
    "comparability_key": "AUD|None|company|documented admitted EV bridge; capital inputs retain original dates",
    "formula": "ev_price_bridge",
    "inputs": [
      {
        "as_of_date": "2026-09-25",
        "basis": "reported",
        "comparability_key": "AUD|None|company|reported",
        "formula": null,
        "inputs": [],
        "period": null,
        "reason": "",
        "scope": "company",
        "source_ids": [
          "AAR:aar-20260925-close"
        ],
        "status": "available",
        "unit": "AUD",
        "value": 260978970.39999998
      },
      {
        "as_of_date": "2026-09-25",
        "basis": "ordinary shares; capital as of 2026-09-01",
        "comparability_key": "AUD|None|company|ordinary shares; capital as of 2026-09-01",
        "formula": "multiply",
        "inputs": [
          {
            "as_of_date": "2026-09-25",
            "basis": "local daily_stock_prices close / 1000000",
            "comparability_key": "AUD/share|None|company|local daily_stock_prices close / 1000000",
            "formula": null,
            "inputs": [],
            "period": null,
            "reason": "",
            "scope": "company",
            "source_ids": [
              "AAR:comparison-local-close-2026-09-25"
            ],
            "status": "available",
            "unit": "AUD/share",
            "value": 0.18
          },
          {
            "as_of_date": "2026-09-01",
            "basis": "reported",
            "comparability_key": "shares|None|company|reported",
            "formula": null,
            "inputs": [],
            "period": null,
            "reason": "",
            "scope": "company",
            "source_ids": [
              "AAR:aar-20260826-cleansing",
              "AAR:aar-20260901-quotation",
              "AAR:aar-20260925-annual"
            ],
            "status": "available",
            "unit": "shares",
            "value": 1808809680.0
          }
        ],
        "period": null,
        "reason": "",
        "scope": "company",
        "source_ids": [
          "AAR:aar-20260826-cleansing",
          "AAR:aar-20260901-quotation",
          "AAR:aar-20260925-annual",
          "AAR:comparison-local-close-2026-09-25"
        ],
        "status": "available",
        "unit": "AUD",
        "value": 325585742.4
      },
      {
        "as_of_date": "2026-09-25",
        "basis": "reported",
        "comparability_key": "AUD|None|company|reported",
        "formula": null,
        "inputs": [],
        "period": null,
        "reason": "",
        "scope": "company",
        "source_ids": [
          "AAR:aar-20260925-close"
        ],
        "status": "available",
        "unit": "AUD",
        "value": 325585742.4
      }
    ],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "AAR:aar-20260727-quarterly-activities-cashflow-report",
      "AAR:aar-20260826-cleansing",
      "AAR:aar-20260901-quotation",
      "AAR:aar-20260925-annual",
      "AAR:aar-20260925-close",
      "AAR:comparison-local-close-2026-09-25"
    ],
    "status": "available",
    "unit": "AUD",
    "value": 260978970.39999998
  },
  {
    "as_of_date": null,
    "basis": "attributable contained resources",
    "comparability_key": "|None|company|attributable contained resources|classification:Indicated and Inferred,Measured, Indicated and Inferred",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "No complete, unambiguous non-overlapping attributable contained-metal total",
    "scope": "company",
    "source_ids": [],
    "status": "unavailable",
    "unit": "",
    "value": null
  }
]
AUC · —

Denominator unavailable: No complete, unambiguous non-overlapping attributable contained-metal total · 2026-09-25 63626165676468666970

Calculation inputs
[
  {
    "as_of_date": "2026-09-25",
    "basis": "documented admitted EV bridge; capital inputs retain original dates",
    "comparability_key": "AUD|None|company|documented admitted EV bridge; capital inputs retain original dates",
    "formula": "ev_price_bridge",
    "inputs": [
      {
        "as_of_date": "2026-09-25",
        "basis": "reported",
        "comparability_key": "AUD|None|company|reported",
        "formula": null,
        "inputs": [],
        "period": null,
        "reason": "",
        "scope": "company",
        "source_ids": [
          "AUC:auc20260925price"
        ],
        "status": "available",
        "unit": "AUD",
        "value": 659717099.79
      },
      {
        "as_of_date": "2026-09-25",
        "basis": "ordinary shares; capital as of 2026-09-21",
        "comparability_key": "AUD|None|company|ordinary shares; capital as of 2026-09-21",
        "formula": "multiply",
        "inputs": [
          {
            "as_of_date": "2026-09-25",
            "basis": "local daily_stock_prices close / 1000000",
            "comparability_key": "AUD/share|None|company|local daily_stock_prices close / 1000000",
            "formula": null,
            "inputs": [],
            "period": null,
            "reason": "",
            "scope": "company",
            "source_ids": [
              "AUC:comparison-local-close-2026-09-25"
            ],
            "status": "available",
            "unit": "AUD/share",
            "value": 1.315
          },
          {
            "as_of_date": "2026-09-21",
            "basis": "reported",
            "comparability_key": "shares|None|company|reported",
            "formula": null,
            "inputs": [],
            "period": null,
            "reason": "",
            "scope": "company",
            "source_ids": [
              "AUC:asx20260713quarter",
              "AUC:asx20260805capital",
              "AUC:asx20260827capital",
              "AUC:asx20260921capital",
              "AUC:asx20260923waiver"
            ],
            "status": "available",
            "unit": "shares",
            "value": 551838466.0
          }
        ],
        "period": null,
        "reason": "",
        "scope": "company",
        "source_ids": [
          "AUC:asx20260713quarter",
          "AUC:asx20260805capital",
          "AUC:asx20260827capital",
          "AUC:asx20260921capital",
          "AUC:asx20260923waiver",
          "AUC:comparison-local-close-2026-09-25"
        ],
        "status": "available",
        "unit": "AUD",
        "value": 725667582.79
      },
      {
        "as_of_date": "2026-09-25",
        "basis": "reported",
        "comparability_key": "AUD|None|company|reported",
        "formula": null,
        "inputs": [],
        "period": null,
        "reason": "",
        "scope": "company",
        "source_ids": [
          "AUC:auc20260925price"
        ],
        "status": "available",
        "unit": "AUD",
        "value": 725667582.79
      }
    ],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "AUC:asx20260713quarter",
      "AUC:asx20260805capital",
      "AUC:asx20260817scheme",
      "AUC:asx20260827capital",
      "AUC:asx20260901annual",
      "AUC:asx20260921capital",
      "AUC:asx20260923waiver",
      "AUC:auc20260925price",
      "AUC:comparison-local-close-2026-09-25"
    ],
    "status": "available",
    "unit": "AUD",
    "value": 659717099.79
  },
  {
    "as_of_date": "2025-12-16",
    "basis": "attributable contained resources",
    "comparability_key": "|None|company|attributable contained resources|classification:Indicated,Inferred,Measured",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "No complete, unambiguous non-overlapping attributable contained-metal total",
    "scope": "company",
    "source_ids": [
      "AUC:asx20251216dfs"
    ],
    "status": "unavailable",
    "unit": "",
    "value": null
  }
]
Equity value
FRS · A$739.7m

ordinary shares; capital as of 2026-09-16 · 2026-09-25 19187

Calculation inputs
[
  {
    "as_of_date": "2026-09-25",
    "basis": "local daily_stock_prices close / 1000000",
    "comparability_key": "AUD/share|None|company|local daily_stock_prices close / 1000000",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "FRS:comparison-local-close-2026-09-25"
    ],
    "status": "available",
    "unit": "AUD/share",
    "value": 0.305
  },
  {
    "as_of_date": "2026-09-16",
    "basis": "reported",
    "comparability_key": "shares|None|company|reported",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "FRS:l-2026-08-07-application-for-quotation-of-securities-frs",
      "FRS:r-cap-sep16",
      "FRS:r-third-bidder"
    ],
    "status": "available",
    "unit": "shares",
    "value": 2425392127.0
  }
]
MRT · A$279m

ordinary shares; capital as of 2026-08-06 · 2026-09-25 3025242220

Calculation inputs
[
  {
    "as_of_date": "2026-09-25",
    "basis": "local daily_stock_prices close / 1000000",
    "comparability_key": "AUD/share|None|company|local daily_stock_prices close / 1000000",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "MRT:comparison-local-close-2026-09-25"
    ],
    "status": "available",
    "unit": "AUD/share",
    "value": 0.75
  },
  {
    "as_of_date": "2026-08-06",
    "basis": "reported",
    "comparability_key": "shares|None|company|reported",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "MRT:mrt_2924031096076a1333211",
      "MRT:mrt_2924031114096a1334020",
      "MRT:mrt_2924031129676a1334797",
      "MRT:mrt_2924031187606a1337657"
    ],
    "status": "available",
    "unit": "shares",
    "value": 371963006.0
  }
]
SHN · A$129.5m

ordinary shares; capital as of 2026-07-30 · 2026-09-25 3141

Calculation inputs
[
  {
    "as_of_date": "2026-09-25",
    "basis": "local daily_stock_prices close / 1000000",
    "comparability_key": "AUD/share|None|company|local daily_stock_prices close / 1000000",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "SHN:comparison-local-close-2026-09-25"
    ],
    "status": "available",
    "unit": "AUD/share",
    "value": 0.036
  },
  {
    "as_of_date": "2026-07-30",
    "basis": "reported",
    "comparability_key": "shares|None|company|reported",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "SHN:asx-6a1336372"
    ],
    "status": "available",
    "unit": "shares",
    "value": 3595929012.0
  }
]
BTR · A$648.2m

ordinary shares; capital as of 2026-09-25 · 2026-09-25 484951

Calculation inputs
[
  {
    "as_of_date": "2026-09-25",
    "basis": "local daily_stock_prices close / 1000000",
    "comparability_key": "AUD/share|None|company|local daily_stock_prices close / 1000000",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "BTR:comparison-local-close-2026-09-25"
    ],
    "status": "available",
    "unit": "AUD/share",
    "value": 0.585
  },
  {
    "as_of_date": "2026-09-25",
    "basis": "reported",
    "comparability_key": "shares|None|company|reported",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "BTR:btr-2026-app2a-employee",
      "BTR:btr-2026-app2a-rights"
    ],
    "status": "available",
    "unit": "shares",
    "value": 1108063749.0
  }
]
AAR · A$325.6m

ordinary shares; capital as of 2026-09-01 · 2026-09-25 58575560

Calculation inputs
[
  {
    "as_of_date": "2026-09-25",
    "basis": "local daily_stock_prices close / 1000000",
    "comparability_key": "AUD/share|None|company|local daily_stock_prices close / 1000000",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "AAR:comparison-local-close-2026-09-25"
    ],
    "status": "available",
    "unit": "AUD/share",
    "value": 0.18
  },
  {
    "as_of_date": "2026-09-01",
    "basis": "reported",
    "comparability_key": "shares|None|company|reported",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "AAR:aar-20260826-cleansing",
      "AAR:aar-20260901-quotation",
      "AAR:aar-20260925-annual"
    ],
    "status": "available",
    "unit": "shares",
    "value": 1808809680.0
  }
]
AUC · A$725.7m

ordinary shares; capital as of 2026-09-21 · 2026-09-25 626167686670

Calculation inputs
[
  {
    "as_of_date": "2026-09-25",
    "basis": "local daily_stock_prices close / 1000000",
    "comparability_key": "AUD/share|None|company|local daily_stock_prices close / 1000000",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "AUC:comparison-local-close-2026-09-25"
    ],
    "status": "available",
    "unit": "AUD/share",
    "value": 1.315
  },
  {
    "as_of_date": "2026-09-21",
    "basis": "reported",
    "comparability_key": "shares|None|company|reported",
    "formula": null,
    "inputs": [],
    "period": null,
    "reason": "",
    "scope": "company",
    "source_ids": [
      "AUC:asx20260713quarter",
      "AUC:asx20260805capital",
      "AUC:asx20260827capital",
      "AUC:asx20260921capital",
      "AUC:asx20260923waiver"
    ],
    "status": "available",
    "unit": "shares",
    "value": 551838466.0
  }
]
Study unit cost
FRS · 3,293 AUD/oz AISC

forecast study cost; September 2026 PFS at A$5,500/oz; pre-tax undiscounted free cash flow reported separately, no issuer NPV supplied. · 2026-09-18 9

MRT · 3,353 AUD/oz AISC

forecast study cost; Issuer project-level NPV excludes corporate costs and assumes A$5,500/oz gold; A$131m is maximum drawdown, not initial capex. · 2026-02-17 21

SHN · —

No supported comparable observation for this selected metric · Date unavailable

BTR · 2,998 AUD/oz AISC

forecast study cost; Pre-tax at A$6,000/oz gold, issued January 2026. · 2026-01-29 42

AAR · 2,085 AUD/oz AISC

forecast study cost; Post-tax NPV8 at FID at A$4,250/oz; includes Feysville feed, pre-production capex and WA gold royalty. · 2025-06-25 54

AUC · 2,252 AUD/oz AISC

forecast study cost; Reported real ungeared post-tax NPV5 at A$4,300/oz gold, 2.5% WA royalty and 30% company tax; no independent project finance terms secured. · 2025-12-16 63

Material gaps

  • FRS price is a September25 close, not an October5 trade; capital dates differ across issuers.
  • FRS current cash/net-debt bridge is unresolved after completed placement and Edna May acquisition.
  • MRT issuer NPV8 is reported; normalized NPV fails explicit tax-basis admission. This is a source/admission gap rather than absent or undiscounted issuer economics.
  • BTR/AAR/AUC project NPVs have different tax, discount, study-date and gold-price assumptions; company dominance/complete economic scope is not admitted.
  • Complete company-level, non-overlapping attributable contained-gold inventory is not admitted for any issuer; preserve all EV/resources rows as unavailable.
  • Forecast study AISC values differ in designs, price-dependent costs and reporting dates; no quartiles or premium/discount inference.
  • June cash is historical and restrictions/commitments differ; FRS cash is not pro forma September cash.
  • Conservative fully diluted ratios include unvested and out-of-money instruments where disclosed, omit exercise proceeds and exclude hypothetical project-financing dilution.

Follow-up questions

  • Reconcile post-acquisition FRS cash, claims, payments and subsequent spending to produce a dated EV bridge.
  • Confirm MRT NPV tax treatment from its original February17 study and correct admission/reason detail without treating reported NPV as absent.
  • Establish demonstrable main-study dominance or complete supported company study scope before EV/NPV.
  • Reconcile complete non-overlapping company gold resource totals to acquired assets, ownership and current estimates before EV/resources.
  • Verify FRS approvals, funded cost-to-complete and first commercial margins against the independent model; do not revise its saved valuation from this comparison.

Sources

  1. Application for quotation of securities - FRS2026-08-07
  2. Quarterly Activities/Appendix 5B Cash Flow Report2026-07-28
  3. Forrestania Secures A$310M for Edna May Acquisition2026-07-01
  4. Lake Johnston Processing Infra. Acquisition Completes2026-02-13
  5. Executed Sale Agreement of Lake Johnston Infrastructure2025-12-31
  6. Completion of Edna May Gold Project Acquisition2026-09-04
  7. Third Supplementary Bidder Statement2026-09-07
  8. Application for quotation of securities2026-09-16
  9. Edna May Pre-Feasibility Study and Ore Reserve2026-09-18
  10. British Hill Pre-Feasibility Study and Ore Reserve2026-09-18
  11. Tycho Pre-Feasibility Study and Ore Reserve2026-09-18
  12. Johnson Range Pre-Feasibility Study and Ore Reserve2026-09-18
  13. British Hill MRE Continues Solid Growth2026-09-24
  14. Forrestania Advances Agreements and Restart Readiness2026-09-09
  15. Lake Johnston Construction Momentum Continues2026-09-18
  16. Total Mineral Resource Estimate Surpasses 2Moz Au2026-09-07
  17. FRS ordinary share ASX close 25 September 20262026-09-25
  18. 2026 Annual Report2026-09-14
  19. Local eligible daily stock close2026-09-25
  20. Application for quotation of securities - MRT2026-08-06
  21. Diggers & Dealers Mining Forum Presentation2026-08-03
  22. Quarterly Activities Report 30 June 20262026-07-22
  23. Quarterly Cash Flow Report 30 June 20262026-07-22
  24. Application for quotation of securities - MRT2026-07-15
  25. Application for quotation of securities - MRT2026-07-09
  26. Gold Ore Reserve Update2026-02-17
  27. Gold Mineral Resources Update2026-02-13
  28. Feasibility Study Update2025-12-24
  29. MRT ASX ordinary share close2026-09-25
  30. Local eligible daily stock close2026-09-25
  31. Application for quotation of securities - SHN2026-07-30
  32. Appendix 5B Cash Flow Report2026-07-30
  33. Quarterly Activities Report2026-07-30
  34. Mt Moss Acquisition Completed & Production Pathway Advanced2026-07-02
  35. Mt Moss Acquisition and Successful Capital Raising2026-04-30
  36. Robust Mining Study for Liontown Gold Operation2026-02-16
  37. Significant Upgrade to Liontown Resource2026-07-15
  38. SHN verified ordinary-share close on 25 September 20262026-09-25
  39. Refurbishment on Track - Mt Moss2026-09-08
  40. Updated Mining Study for Liontown Gold Operation2026-09-21
  41. Local eligible daily stock close2026-09-25
  42. Updated Goldfields Feasibility Study2026-01-29
  43. BTR Approves Final Investment Decision at Goldfields Project2026-05-26
  44. Quarterly Activities/Appendix 5B Cash Flow Report2026-07-30
  45. Diggers and Dealers Presentation2026-08-05
  46. Annual Report to Shareholders 20262026-09-04
  47. Goldfields construction update2026-09-09
  48. Appendix 2A employee shares2026-09-25
  49. Appendix 2A rights conversion2026-09-25
  50. BTR.AX ordinary share close, 25 September 20262026-09-25
  51. Local eligible daily stock close2026-09-25
  52. Quarterly Activities & Cashflow Report2026-07-27
  53. Mineral Resource Increased to 2.07 Million Ounces2026-04-21
  54. Mandilla Project Pre-Feasibility Study - Maiden Ore Reserve2025-06-25
  55. Annual Report for year ended 30 June 20262026-09-25
  56. Theia Deeps assay results continue to strengthen case2026-09-15
  57. Application for quotation of securities2026-09-01
  58. Cleansing notice for equity issues2026-08-26
  59. AAR ordinary share local closing observation2026-09-25
  60. Local eligible daily stock close2026-09-25
  61. Application for quotation of securities - AUC2026-08-05
  62. Quarterly Activities/Appendix 5B Cash Flow Report2026-07-13
  63. Updated Definitive Feasibility Study2025-12-16
  64. Ausgold 2026 Annual Report2026-09-01
  65. OceanaGold proposed acquisition of Ausgold2026-08-17
  66. ASX waiver for scheme warrant cancellation2026-09-23
  67. Application for quotation of securities, 27 August 20262026-08-27
  68. Application for quotation of securities, 21 September 20262026-09-21
  69. AUC ASX ordinary-share close 25 September 20262026-09-25
  70. Local eligible daily stock close2026-09-25
  71. World Bank Worldwide Governance Indicators — Political Stability, archived 2024 edition2024-11-05
Saved comparisonsHistorical runs and downloads