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 G6M ASX

Group 6 Metals Limited

Ramping Producer · Tungsten · AU Rating locked: sign in to view v8.1 · g6m-20261031t211001-full
Last 2026-11-06
A$2.47
1D
—
1M
—
YTD
—
1Y
—
Upside
Locked: sign in to view
Mkt cap
A$611.7M
EV
A$581.9M
Cash
A$54.1M
Debt
A$23.6M
1 newer ASX announcement not yet reflected in this valuation

Narrative and provenance

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Chronological evidenceSource-document inventory28 documents
Quarterly Activities/Appendix 5B Cash Flow ReportOperations · HighExtracted

September 2026 quarter: record 81,098 t milled at 0.29% WO3 for 13,712 MTU produced and 12,782 MTU sold for A$35.5m; first underground ore (5,144 t at 0.57% WO3) and 12,274 t at 0.48% WO3 delivered in October to date; operating cash flow A$14.7m, investing A$9.6m (A$5.7m underground development); cash A$54.1m, loans drawn A$23.4m (all 12%, due 30 April 2027) and A$2.5m undrawn; stockpiles 207 kt at 0.24% WO3.

Document ID
qr_sep26
Published UTC
2026-10-29T06:51:02Z
Projects
dolphin
Commodities
tungsten
Open original source ↗
G6M ASX closing price 30 October 2026 (miners.reference_price)Market Data · MediumExtracted

Latest eligible local ASX close on or before the 31 October 2026 cutoff, read with `python -m miners.reference_price G6M --valuation-date 2026-10-31` from data/asx_mining_companies.db (market data provider via miners.collect_stock_prices): close A$2.52 on 30 October 2026, volume 17,938 shares, one ASX G6M ordinary share, AUD, 1 day old (fresh).

Document ID
ref_price
Published UTC
2026-10-30T05:10:00Z
Projects
—
Commodities
tungsten
Open original source ↗
Market snapshot for G6M at the 31 October 2026 cutoff (miners.v8db.market_snapshot)Market Data · MediumExtracted

Output of `python -m miners.v8db.market_snapshot G6M --cutoff 2026-10-31 --shares 247652282 --commodities W`: 52-week range A$2.37-3.89 (trading only since reinstatement on 30 July 2026), returns 1m -26.1%, 3m -8.7% (mining index relative -16.0% and -4.2%), 20-day average traded value A$24,000 and 60-day A$63,000, AUD/USD 0.7025 (1.4236 A$ per US$), market cap A$624m; no tungsten spot in the local price database and no published tungsten peer rows (G6M has no prior run). The 12-month and 3-year returns span the 2024-2026 suspension and the 100:1 consolidation and are not meaningful.

Document ID
market_snapshot
Published UTC
2026-10-30T05:10:00Z
Projects
—
Commodities
tungsten
Open original source ↗
Tungsten peer market data from the local databases (miners_v8.db stock_daily and company_values; asx_mining_companies.db)Market Data · MediumExtracted

Peer rows read on 1 November 2026 for data dated on or before the cutoff: EQ Resources (EQR) stock_daily 30 October 2026 (price A$0.29, market cap A$1,503m, EV A$1,463m, EV/EBITDA 28.9x, EV per attributable resource A$11,290/t WO3, EV per reserve A$39,130/t WO3; FY26 revenue A$165.4m, EBITDA A$50.6m); Almonty Industries (AII) last ASX market cap A$5,510m on 9 August 2026 (delisted from ASX 1 September 2026 at A$25.89), net cash A$421.8m at 30 June 2026, FY26 revenue A$70.7m, attributable reserve 28,642 t WO3; Tungsten Mining (TGN) market cap A$286m at A$0.205 on 9 August 2026 and close A$0.19 on 30 October 2026 (pre-production Mt Mulgine).

Document ID
peer_db
Published UTC
2026-10-30T05:10:00Z
Projects
—
Commodities
tungsten
Open original source ↗
Notice of Annual General Meeting/Proxy FormGovernance · MediumExtracted

Notice of the 2026 annual general meeting to be held virtually at 12.00pm AEDT on 17 November 2026: remuneration report, election of Dale Elphinstone, an employee incentive plan, proportional takeover provisions and up to 600,000 further performance rights for the Executive Chair.

Document ID
agm_notice_oct26
Published UTC
2026-10-16T03:23:13Z
Projects
dolphin
Commodities
tungsten
Open original source ↗
China Tungsten Industry Association news: tungsten prices drop nearly 70%Commodity Data · MediumExtracted

CTIA news item (posted 13 October 2026): China domestic APT about RMB 480,000-510,000/t, 55% tungsten concentrate RMB 300,000-330,000/standard tonne, prices down nearly 70% from the historical highs of seven months earlier on buyer resistance, weak demand, cautious cemented-carbide users and smelter cost inversions. No European prices given.

Document ID
ctia_oct26
Published UTC
2026-10-13T01:00:00Z
Projects
—
Commodities
tungsten
Open original source ↗
FY26 Annual Report - Investor PresentationPresentation · MediumExtracted

FY26 results presentation: restates FY26 financials, the 295 kt at 0.26% WO3 opening FY27 stockpile, start of underground mining with HMR Drilling in late June 2026, and FY27 catalysts (underground ramp-up, grade uplift, ore sorting, fine tungsten recovery, resource growth). No numerical production or cost guidance is given.

Document ID
pres_fy26
Published UTC
2026-09-30T23:30:03Z
Projects
dolphin
Commodities
tungsten
Open original source ↗
Notification regarding unquoted securities - G6MCorporate Action · LowExtracted

Issue of 480,000 further performance rights on 29 September 2026, taking performance rights to 1,480,000; ordinary shares 247,652,282.

Document ID
perf_rights_sep26
Published UTC
2026-09-29T06:11:10Z
Projects
dolphin
Commodities
tungsten
Open original source ↗
FY2026 Annual Report to ShareholdersResults · HighExtracted

Audited FY2026 annual report (year to 30 June 2026): revenue A$129.0m, gross profit A$85.7m, NPAT A$148.2m including a A$74.6m impairment reversal and A$12.2m deferred tax benefit; operating cash flow A$55.7m; cash A$49.3m; borrowings A$21.2m all due 30 April 2027; 247.5m shares after the 100:1 consolidation. Contains the depleted 30 June 2026 resource and reserve inventory (pages 10-13), the FVLCD impairment assumptions (US$1,000-1,800/mtu long-term APT, 12% WACC, AUD/USD 0.72, 70% recovery), tax losses of A$107.1m, directors, remuneration, related-party dealings and the top-20 register at 7 September 2026.

Document ID
ar_fy26
Published UTC
2026-09-25T08:56:39Z
Projects
dolphin
Commodities
tungsten
Open original source ↗
SMM: Chinese tungsten market sees broad-based decline amid weak supply and demandCommodity Data · MediumExtracted

SMM weekly analysis dated 18 September 2026: European APT CIF Rotterdam US$3,000/mtu, flat for four consecutive weeks; China domestic APT RMB 590,000/t (down RMB 15,000 since 18 August), 65% wolframite concentrate RMB 409,500/t; H1 September long-term contract APT RMB 600,000/t. Outlook: consolidation with a slightly lower centre; China reserves, mining quotas and export licensing give bottom support while the global price system may be restructuring.

Document ID
smm_sep26
Published UTC
2026-09-18T09:13:00Z
Projects
—
Commodities
tungsten
Open original source ↗
InvestSMART: Almonty Industries ASX announcements and removal from the official listMarket Data · MediumExtracted

InvestSMART announcement list: Almonty CDIs suspended 28 August 2026 and removed from the ASX official list on 1 September 2026, last price A$25.89. Used to date the Almonty peer observation.

Document ID
almonty_asx_delisting
Published UTC
2026-09-01T03:21:00Z
Projects
—
Commodities
tungsten
Open original source ↗
Change of Director's Interest NoticeGovernance · LowExtracted

Dale Elphinstone's holding moved from 57,432,014 to 57,415,780 ordinary shares on 18 August 2026.

Document ID
elph_dirint_aug26
Published UTC
2026-08-21T06:49:53Z
Projects
dolphin
Commodities
tungsten
Open original source ↗
Statement of ConfirmationsCorporate Action · MediumExtracted

Statement of confirmations for reinstatement to quotation on 30 July 2026, including the top-20 register (top 20 hold 98.16%) and distribution schedule.

Document ID
soc_jul26
Published UTC
2026-07-28T06:32:31Z
Projects
dolphin
Commodities
tungsten
Open original source ↗
Application for quotation of securities - G6MCorporate Action · LowExtracted

Application for quotation at reinstatement: 247,652,282 ordinary shares on issue, plus 169,644 warrants (A$19.60), 760,000 options and 1,000,000 performance rights.

Document ID
quotation_jul26
Published UTC
2026-07-28T05:36:56Z
Projects
dolphin
Commodities
tungsten
Open original source ↗
Quarterly Activities/Appendix 5B Cash Flow ReportOperations · HighExtracted

June 2026 quarter: 77,953 t milled at 0.45% WO3, 21,297 MTU produced and 25,514 MTU sold for A$69.1m; receipts A$61.0m; operating cash flow A$40.5m; quarter-end cash A$49.5m (Appendix 5B).

Document ID
qr_jun26
Published UTC
2026-07-13T22:27:50Z
Projects
dolphin
Commodities
tungsten
Open original source ↗
Notification regarding unquoted securities - G6MCorporate Action · LowExtracted

Issue of 1,000,000 performance rights to Executive Chairman Kevin Pallas on 10 July 2026; 247,536,349 ordinary shares then on issue.

Document ID
perf_rights_jul26
Published UTC
2026-07-10T06:31:39Z
Projects
dolphin
Commodities
tungsten
Open original source ↗
Results of MeetingGovernance · LowExtracted

Results of the 3 July 2026 general meeting: related-party transactions and the Executive Chairman's performance rights approved.

Document ID
results_meeting_jul26
Published UTC
2026-07-03T03:59:19Z
Projects
dolphin
Commodities
tungsten
Open original source ↗
Fastmarkets: tungsten markets fragmenting as domestic Chinese APT market diverges from exportsCommodity Data · MediumExtracted

Fastmarkets article (29 June 2026): APT FOB China US$2,600-3,250/mtu (24 June, +631% year on year) and CIF Rotterdam/Baltimore US$2,900-3,210/mtu (19 June) while China domestic APT fell to about US$1,200-1,300/mtu; Chinese export licensing has created a transmission barrier; the gap is expected to persist for a period but not indefinitely; elevated prices and government support should lift ex-China supply over the next decade. No numerical forecasts.

Document ID
fastmarkets_jun26
Published UTC
2026-06-29T09:00:00Z
Projects
—
Commodities
tungsten
Open original source ↗
Notice of General Meeting/Proxy FormGovernance · MediumExtracted

Notice of general meeting (approved 3 July 2026) seeking Listing Rule 10.1 approval of related-party supply, equipment hire and loan transactions with Elphinstone and Ellis entities, with an independent expert's report; and approval of the Executive Chairman's performance rights.

Document ID
ngm_jun26
Published UTC
2026-06-02T02:16:47Z
Projects
dolphin
Commodities
tungsten
Open original source ↗
Quarterly Activities/Appendix 5B Cash Flow ReportOperations · MediumExtracted

March 2026 quarter: 72,351 t milled at 0.56% WO3, 24,146 MTU produced, 24,555 MTU sold for A$32.2m; operating cash flow A$13.2m; cash A$14.4m; HMR underground contract executed in April 2026.

Document ID
qr_mar26
Published UTC
2026-04-29T01:53:38Z
Projects
dolphin
Commodities
tungsten
Open original source ↗
FY26 Half-Year Report and AccountsResults · MediumExtracted

Reviewed half-year accounts to 31 December 2025 (first half of FY26), the period in which tungsten prices began their steep rise; used for the half-year bridge only.

Document ID
hy_fy26
Published UTC
2026-03-05T22:01:57Z
Projects
dolphin
Commodities
tungsten
Open original source ↗
Quarterly Activities/Appendix 5B Cash Flow ReportOperations · MediumExtracted

December 2025 quarter: record 27,007 MTU sold for A$17.55m; 70,004 t milled at 0.65% WO3 and 26,175 MTU produced; cash A$3.5m.

Document ID
qr_dec25
Published UTC
2026-01-20T06:00:51Z
Projects
dolphin
Commodities
tungsten
Open original source ↗
Quarterly Activities/Appendix 5B Cash Flow ReportOperations · MediumExtracted

September 2025 quarter: 52,113 t milled at 0.65% WO3, 17,293 MTU produced, 15,888 MTU sold; operating cash outflow A$3.2m; cash A$2.2m; open-cut mining in the current sequence completed.

Document ID
qr_sep25
Published UTC
2025-10-27T00:47:45Z
Projects
dolphin
Commodities
tungsten
Open original source ↗
FY2025 Annual Report to ShareholdersResults · MediumExtracted

Audited FY2025 annual report: revenue A$21.2m, net loss A$32.1m; notes that the largest offtake agreement prices shipments off the Tungsten APT Low Price CIF Rotterdam benchmark (US$580/mtu at signing, for October 2025 shipments).

Document ID
ar_fy25
Published UTC
2025-09-30T22:36:01Z
Projects
dolphin
Commodities
tungsten
Open original source ↗
Quarterly Activities/Appendix 5B Cash Flow ReportOperations · MediumExtracted

June 2025 quarter: 19,294 MTU produced (then a record) from 52,159 t at 0.67% WO3; cash A$7.6m after the April 2025 recapitalisation.

Document ID
qr_jun25
Published UTC
2025-07-30T23:30:14Z
Projects
dolphin
Commodities
tungsten
Open original source ↗
Notice of General Meeting/Proxy FormStudy · HighExtracted

Recapitalisation notice of meeting with the BDO Corporate Finance independent expert's report (4 March 2025) and the Xenith Independent Technical Specialist Report (14 January 2025). BDO valued the Dolphin mine at A$52.5-72.5m (Xenith updated base case A$62.8-73.2m at 15%-12% nominal post-tax) on a LOM plan producing about 1.9 million MTU from March 2025 to February 2033, an APT price deck of about US$330-480/mtu and AUD/USD 0.66-0.70, 70% long-term recovery and royalties of about 6.71% of revenue (Tasmanian royalty capped at 5.35%, Osisko 1.5% gross revenue royalty, HNC 2% capped at A$3.9m). Xenith describes the deposit history, offtake (Wolfram Bergbau und Huetten and Traxys), plant capacity of 3,000 t WO3 a year and the risks to plant recovery.

Document ID
ngm_mar25
Published UTC
2025-03-21T04:53:12Z
Projects
dolphin
Commodities
tungsten
Open original source ↗
Company Secretary Appointment/ResignationLeadership · LowExtracted

Appointment of Andrew Bickley as company secretary on 19 December 2024.

Document ID
cosec_dec24
Published UTC
2024-12-19T01:51:29Z
Projects
dolphin
Commodities
tungsten
Open original source ↗
Bold Head Maiden Mineral Reserve EstimateReserve Update · MediumExtracted

Bold Head maiden Ore Reserve (June 2023): 0.45 Mt at 0.89% WO3 Probable, from a 1.76 Mt at 0.91% WO3 resource, using a 0.7% WO3 cut-off; mainly post-pillar underground mining with 80% recovery and 15% dilution.

Document ID
bold_head_reserve_2023
Published UTC
2023-06-26T01:43:02Z
Projects
dolphin
Commodities
tungsten
Open original source ↗
Evidence facts35
ar26-revenueFY26 revenue from contracts with customers

128966000 AUD

2026-06-30
ar26-npatFY26 net profit after tax

148185000 AUD

2026-06-30
ar26-impairment-reversalFY26 impairment reversal

74638000 AUD

2026-06-30
ar26-ocfFY26 net operating cash flow

55656000 AUD

2026-06-30
ar26-cashCash at 30 June 2026

49327000 AUD

2026-06-30
ar26-borrowingsBorrowings carrying value at 30 June 2026

21190000 AUD

2026-06-30
ar26-tax-lossesClosing carried-forward tax losses

107101000 AUD

2026-06-30
ar26-sharesOrdinary shares on issue at 30 June 2026

247536349 shares

2026-06-30
ar26-res-totalTotal Mineral Resource 30 June 2026 (Indicated + Inferred)

10.55 Mt at 0.89% WO3, 9.43 million MTU text

2026-06-30
ar26-res-dolphinDolphin Indicated Resource 30 June 2026

8.79 Mt at 0.89% WO3, 7.82 million MTU text

2026-06-30
ar26-rsv-totalTotal Probable Ore Reserve 30 June 2026

4.07 Mt at 0.92% WO3, 3.73 million MTU text

2026-06-30
ar26-fvlcdFVLCD recoverable amount of the Dolphin CGU

561000000 AUD

2026-06-30
ar26-lt-aptImpairment model long-term APT price range

US$1,000-1,800/mtu text

2026-06-30
q1fy27-prodWO3 produced, September 2026 quarter

13712 MTU

2026-09-30
q1fy27-salesWO3 sold and sales value, September 2026 quarter

12,782 MTU for A$35.5m text

2026-09-30
q1fy27-cashCash at 30 September 2026

54113000 AUD

2026-09-30
q1fy27-debtLoan facilities drawn at 30 September 2026

23396000 AUD

2026-09-30
q1fy27-undrawnUnused financing facilities

2500000 AUD

2026-09-30
q1fy27-ocfNet operating cash flow, September 2026 quarter

14669000 AUD

2026-09-30
q4fy26-cash-5bCash at 30 June 2026 per the unaudited Appendix 5B

49464000 AUD

2026-06-30
q4fy26-salesWO3 sold and sales value, June 2026 quarter

25,514 MTU for A$69.1m text

2026-06-30
q3fy26-salesWO3 sold and sales value, March 2026 quarter

24,555 MTU for A$32.2m text

2026-03-31
q2fy26-salesWO3 sold and revenue, December 2025 quarter

27,007 MTU for A$17.55m text

2025-12-31
bdo-npv-baseBDO DCF of Dolphin, Xenith updated base case (12%-15% discount)

A$73.2m-62.8m text

2025-03-31
bdo-lom-prodLOM production in BDO financial model

about 1.9 million MTU, March 2025 to February 2033 text

2025-03-31
xenith-plantDesign production capacity

3,000 t WO3 per annum text

2025-01-14
bdo-royaltyRoyalties as a share of gross revenue across the LOM

6.71 %

2025-03-31
shares-jul26Ordinary shares on issue at reinstatement

247652282 shares

2026-07-28
rights-sep26Performance rights on issue after 29 September 2026 issue

1480000 rights

2026-09-29
ref-closeG6M close 30 October 2026

2.52 AUD/share

2026-10-30
ref-volumeVolume 30 October 2026

17938 shares

2026-10-30
snap-fxAUD per USD at cutoff

1.4236 AUD/USD

2026-10-30
snap-adtv2020-day average traded value

23966 AUD

2026-10-30
smm-apt-rotterdamEuropean APT CIF Rotterdam weekly average

3000 USD/mtu

2026-09-18
ctia-aptChina domestic APT price range

RMB 480,000-510,000/t text

2026-10-12
Conflicts requiring judgment1
  • cash at 30 June 2026

    The audited balance sheet (A$49.327m) supersedes the unaudited June 2026 Appendix 5B (A$49.464m); the September 2026 Appendix 5B opens from the audited A$49.327m.