Price, volume & events
CloseVolumeFair-value rangeOverlay
Loading market history…
Drag to zoom · double-click to reset
- Last 2026-11-06
- A$2.47
- 1D
- —
- 1M
- —
- YTD
- —
- 1Y
- —
- Fair value
- Locked: sign in to view
- 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
- Investor PresentationLatest Operating Presentation
Investment view
Rating locked: sign in to view
Investment view
Our rating, thesis and what the price implies are available to subscribers.
Sign in or enter a guest codeAnnouncements
Latest 12 of 21All sources ▸- Quarterly Activities/Appendix 5B Cash Flow ReportOperations
- Notice of Annual General Meeting/Proxy FormGovernance
- FY26 Annual Report - Investor PresentationPresentation
- Notification regarding unquoted securities - G6MCorporate Action
- FY2026 Annual Report to ShareholdersResults
- Change of Director's Interest NoticeGovernance
- Statement of ConfirmationsCorporate Action
- Application for quotation of securities - G6MCorporate Action
- Quarterly Activities/Appendix 5B Cash Flow ReportOperations
- Notification regarding unquoted securities - G6MCorporate Action
- Results of MeetingGovernance
- Notice of General Meeting/Proxy FormGovernance
Event calendar · next 12 months
10 events| Timing | Event | Category | Confidence | Materiality | Investor relevance |
|---|---|---|---|---|---|
| December 2026 quarter | Underground ore lifts blended feed grade (December 2026 quarter) | Production | Company Guided | High | The valuation needs feed grade to rise from 0.29% toward 0.8-1.1% WO3; October deliveries were 12,274 t at 0.48%. |
| 17 November 2026 | 2026 annual general meeting (remuneration, Elphinstone election, incentive plan, further Chairman rights) | Governance | Confirmed | Medium | Votes on up to 600,000 further performance rights and a new incentive plan; the free float is under 10%, so the major holders decide. |
| 14 December 2026 | Exploration licence EL19/2001 expiry and renewal | Permitting | Confirmed | Medium | Renewal keeps the King Island exploration upside that underpins any resource growth beyond the mining lease. |
| Late January 2027 | December 2026 quarterly activities report | Production | Inferred | High | First full quarter with regular underground ore: head grade, recovery and output test the ramp-up. |
| By mid-March 2027 | Half-year results to 31 December 2026 | Results | Inferred | Medium | First reviewed accounts after reinstatement; shows unit costs, tax payable once losses are absorbed and working capital. |
| Late April 2027 | March 2027 quarterly activities report | Production | Inferred | High | Underground ramp and cash build ahead of the loan maturity. |
| 30 April 2027 | Senior and State of Tasmania loans (A$23.4m, 12%) due | Financing | Confirmed | High | Repayment from cash removes the secured lenders (also the largest shareholders) and 12% interest; a refinancing would signal weaker cash generation. |
| July 2027 | June 2027 quarterly activities report | Production | Inferred | Medium | FY27 production versus our forecast of about 70,600 MTU. |
| August-September 2027 | FY27 annual report and resource/reserve statement | Results | Inferred | High | First full year of underground production, tax payments and a depletion update to the reserve. |
| Within the next twelve months (company catalyst list) | Resource and reserve update work (Dolphin, Bold Head, King Island targets) | Resource Or Reserve | Company Guided | Medium | A re-estimated resource and reserve at current prices would test the 2020 estimate that Xenith criticised and could extend the plan beyond FY34. |
Executive roster
As of 2026-10-31Background checks ▸The FY26 annual report names the Executive Chairman as the only executive key management person and Andrew Bickley as company secretary; no CEO, CFO or general manager is disclosed separately.
| Executive | Title | Normalized role | Appointed | Sources |
|---|---|---|---|---|
| Kevin Pallas | Executive Chairman | Executive Director · Chief Executive | 2024-12-04 | FY2026 Annual Report to Shareholders · FY26 Annual Report - Investor Presentation |
| Andrew Bickley | Company Secretary | Company Secretary | 2024-12-19 | FY2026 Annual Report to Shareholders · Company Secretary Appointment/Resignation |
devCoverage status: Complete As Disclosed
Portfolio detail
Assets
Core asset
Dolphin Tungsten Mine (including Bold Head), King Island
AU
Ramping Producer100% ownedTungsten
Producing since July 2023 from open-cut ore and stockpiles; open-cut mining in the current sequence ended in Q1 FY26; underground contractor HMR Drilling began work in late June 2026 and the first underground ore was milled in the September 2026 quarter.
- Production annualised (attributable)
- 548 td
- Production (last FY, 100%)
- 889 td
- AISC (latest quarter)
- —
- AISC margin at spot
- —
- Delivery vs guidance
- —
- Reserve life
- 42.0 yrsd
- Head grade
- 0.29% WO3
Published study economicsIssuer or study metrics
NPVA$73.2M12% discount
BDO DCF value of the Dolphin mine, Xenith updated base case, at 31 March 2025, nominal post-tax 12% (A$62.776m at 15%); excludes corporate costs, debt and tax losses outside the mine.
Resources & reserves5
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | Indicated | 8.8 Mt | 0.89% WO3 (7.82 million MTU contained) | Tungsten | 2026-06-30 |
| Mineral Resource | Indicated | 1.6 Mt | 0.92% WO3 (1.48 million MTU) | Tungsten | 2026-06-30 |
| Mineral Resource | Inferred | 0.2 Mt | 0.85% WO3 (0.13 million MTU) | Tungsten | 2026-06-30 |
| Ore Reserve | Probable | 3.6 Mt | 0.92% WO3 (3.33 million MTU) | Tungsten | 2026-06-30 |
| Ore Reserve | Probable | 0.4 Mt | 0.89% WO3 (0.40 million MTU) | Tungsten | 2026-06-30 |
Tenements2
Milestones4
- First underground ore delivered and milled
Achieved · High materiality
- Blended feed grade lifted by underground ore
Pending · High materiality
- Repay senior lending group and State of Tasmania loans
Pending · High materiality
- Renewal of exploration licence EL19/2001
Pending · Medium materiality
Permits & approvals2
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| Environmental Protection Notice EPN 7442/4 (operations incl. underground) | Tasmania EPA | Granted | — | No |
| Mine Closure, Decommissioning and Rehabilitation Management Plan (annual update) | Tasmania EPA | Granted | — | No |
Economic studies3
| Study | Stage | Status | Date | Summary |
|---|---|---|---|---|
| Dolphin Revised Feasibility Study (December 2020) | Updated Feasibility | Superseded | 2020-12-16 | Basis of the Dolphin reserve and resource (14-year mine life); superseded as an economic case by the 2025 LOM model and the 2026 impairment model. |
| Bold Head maiden Ore Reserve | PFS | Current | 2023-06-26 | Maiden Bold Head reserve 0.45 Mt at 0.89% WO3. |
| Updated LOM model reviewed by Xenith and valued by BDO (recapitalisation IER) | Operating Plan | Current | 2025-03-21 | About 1.9 million MTU from March 2025 to February 2033: stockpiles to mid-2026, Dolphin underground from July 2026 (about 300 kt/yr at 1.1-1.35% WO3), Bold Head late in life; 70% long-term recovery; BDO NPV A$62.8-73.2m at 15%-12% on an APT deck of US$330-480/mtu. |
d derivedr our researchg guidances study forecastm daily marketNo marker: as reported— / NM missing or not meaningful (hover for why)
Funding, performance and ownership
Financials & Capital
Liquidity
Financial position
A$54.1m cash against A$23.6m of 12% secured loans and fleet finance, all loans repayable on 30 April 2027; the company states cash is sufficient to repay them and fund underground development. A covenant requires cash plus undrawn facilities above A$3m. Lower concentrate output while stockpiles are depleted, and a falling tungsten price, are the main liquidity risks before the underground ore lifts grade.
Inventory composition4
Operating inventories only: low-grade ROM stockpiles being drawn down while the underground ramps up, a small concentrate float and critical spares.
- ROM ore stockpiles on hand (about 207 kt at 0.24% WO3, about 49k MTU contained)
- — carrying · 207,000 t ore
- Stockpiled ore carrying value at 30 June 2026 (295 kt at 0.26% WO3 on hand)
- A$3.6M carrying · 295,000 t ore
- Concentrate ready for shipment at 30 June 2026
- A$757K carrying
- Stores and critical spares at 30 June 2026
- A$5.9M carrying
Capital structure
Ownership and dilution
- Ordinary shares
- 247.7M
- Fully diluted
- 250.1M
21,920,268,847 shares at 1 July 2025 consolidated 100:1 on 3 September 2025 (219,202,660 post-consolidation basis), plus 8,035,715 and 20,296,427 shares on warrant exercise at A$0.35 on 29 and 31 October 2025 (loan balances reduced by A$9.92m) = 247,536,349 at 30 June 2026; 115,933 shares issued around reinstatement (performance-option and small issues quoted 20-28 July 2026) = 247,652,282 at 28 July 2026, unchanged at 29 September 2026. Fully diluted adds 1,480,000 performance rights, 760,000 options and 169,644 warrants.
Security classes5
| Class | Type | Quantity | Strike | Expiry |
|---|---|---|---|---|
| Ordinary fully paid shares | Ordinary Share | 247.7M | — | — |
| Nil-priced performance rights held by the Executive Chairman: 1,000,000 issued 10 July 2026 (hurdles were reinstatement before 31 July 2026 and a A$2.00 share price before 30 September 2026, both met on the trading record) and 480,000 issued 29 September 2026 | Performance Right | 1.5M | A$0 | — |
| Unquoted options exercisable at A$0.52 | Option | 380K | A$0.52 | 2027-04-30 |
| Unquoted options exercisable at A$1.04 | Option | 380K | A$1.04 | 2028-04-30 |
| Legacy warrants exercisable at A$19.60 (deep out of the money) | Other | 169.6K | A$19.6 | — |
Actuals and forecasts
Financial statements
| AUD | Unit | Trend | FY25AA | FY26AA |
|---|---|---|---|---|
| Operations | ||||
| Ore milled | t | — | 272,421 | |
| Feed grade | % WO3 | — | 0.57 | |
| Plant recovery | % | — | 60.0% | |
| WO3 produced in concentrate | MTUm | — | 0.1 | |
| WO3 sold | MTUm | — | 0.1 | |
| Unit costs | ||||
| Site and corporate cash cost per MTU produced | AUD/MTU | — | 548.3 | |
| All-in cost per MTU (cash costs, royalties and all capex) | AUD/MTU | — | 787.6 | |
| Profit and loss | ||||
| Revenue | AUDm | 21.2 | 129.0 | |
| Cash operating, selling and corporate costs (excl. royalties) | AUDm | 33.3 | 48.7 | |
| Royalties | AUDm | 1.1 | 10.1 | |
| Underlying EBITDA | AUDm | (13.3) | 70.1 | |
| Depreciation and amortisation | AUDm | 7.4 | 4.5 | |
| Underlying EBIT | AUDm | (20.7) | 65.5 | |
| Impairment reversal and warrant fair-value gains | AUDm | 0.9 | 80.7 | |
| Net finance income/(expense) | AUDm | (12.3) | (10.2) | |
| Income tax expense/(benefit) | AUDm | 0.0 | (12.2) | |
| Net profit after tax | AUDm | (32.1) | 148.2 | |
| Cash flow | ||||
| Operating cash flow | AUDm | (26.3) | 55.7 | |
| Sustaining and plant capex | AUDm | 2.7 | 6.6 | |
| Underground development and growth capex | AUDm | 0.0 | 4.5 | |
| Total capex | AUDm | 2.7 | 11.1 | |
| Free cash flow | AUDm | (29.0) | 44.5 | |
| Debt, lease and equity flows | AUDm | 35.8 | (3.2) | |
| Asset sale proceeds | AUDm | 0.0 | 0.4 | |
| Net change in cash | AUDm | 6.8 | 41.7 | |
| Balance sheet | ||||
| Cash | AUDm | 7.6 | 49.3 | |
| Borrowings | AUDm | 26.3 | 21.2 | |
| Net debt / (net cash) | AUDm | 18.7 | (28.1) | |
| Per share | ||||
| Shares (year end; forecast diluted for rights and options) | m shares | 219.2 | 247.5 | |
| Earnings per share | AUD/share | (0.15) | 0.60 | |
| Dividends per share | AUD/share | 0.00 | 0.00 | |
| Multiples and ratios | ||||
| EV / EBITDA (x, current EV) | x | (44.8) | 8.5 | |
| P / E (x, current market cap) | x | (19.4) | 4.2 | |
| FCF yield (current market cap) | % | -4.6% | 7.1% | |
| EBITDA margin | % | -62.5% | 54.3% | |
| Net debt / EBITDA (x) | x | (1.4) | (0.4) | |
KPI history
Operating metrics · Dolphin Tungsten Mine (including Bold Head), King Island
| Metric | Unit | Trend | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| WO3 produced in concentrate | MTU WO3 | 19,294 | 17,293 | 26,175 | 24,146 | 21,297 | 13,712 | |
| WO3 sold in concentrate | MTU WO3 | 19,846 | 15,888 | 27,007 | 24,555 | 25,514 | 12,782 | |
| Plant feed (ore milled) | t | 52,159 | 52,113 | 70,004 | 72,351 | 77,953 | 81,098 | |
| Average feed grade | % WO3 | 0.67 | 0.65 | 0.65 | 0.56 | 0.45 | 0.29 |
KPI history
Operating metrics · Company
| Metric | Unit | Trend | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|
| Concentrate sales revenue | AUD | 10,100,000 | 17,550,000 | 32,200,000 | 69,100,000 | 35,500,000 | |
| Cash at quarter end | AUD | 2,199,000 | 3,470,000 | 14,387,000 | 49,327,000 | 54,113,000 |
Operating metric source table47
| Metric | Project | Period | Period type | Value | Status |
|---|---|---|---|---|---|
| WO3 produced in concentrate | Dolphin | Q4 FY25 | Quarter | 19,294 MTU WO3 | Reported |
| WO3 sold in concentrate | Dolphin | Q4 FY25 | Quarter | 19,846 MTU WO3 | Reported |
| Plant feed (ore milled) | Dolphin | Q4 FY25 | Quarter | 52,159 t | Reported |
| Average feed grade | Dolphin | Q4 FY25 | Quarter | 0.67 % WO3 | Reported |
| WO3 produced in concentrate | Dolphin | Q1 FY26 | Quarter | 17,293 MTU WO3 | Reported |
| WO3 sold in concentrate | Dolphin | Q1 FY26 | Quarter | 15,888 MTU WO3 | Reported |
| Plant feed (ore milled) | Dolphin | Q1 FY26 | Quarter | 52,113 t | Reported |
| Average feed grade | Dolphin | Q1 FY26 | Quarter | 0.65 % WO3 | Reported |
| WO3 produced in concentrate | Dolphin | Q2 FY26 | Quarter | 26,175 MTU WO3 | Reported |
| WO3 sold in concentrate | Dolphin | Q2 FY26 | Quarter | 27,007 MTU WO3 | Reported |
| Plant feed (ore milled) | Dolphin | Q2 FY26 | Quarter | 70,004 t | Reported |
| Average feed grade | Dolphin | Q2 FY26 | Quarter | 0.65 % WO3 | Reported |
| WO3 produced in concentrate | Dolphin | Q3 FY26 | Quarter | 24,146 MTU WO3 | Reported |
| WO3 sold in concentrate | Dolphin | Q3 FY26 | Quarter | 24,555 MTU WO3 | Reported |
| Plant feed (ore milled) | Dolphin | Q3 FY26 | Quarter | 72,351 t | Reported |
| Average feed grade | Dolphin | Q3 FY26 | Quarter | 0.56 % WO3 | Reported |
| WO3 produced in concentrate | Dolphin | Q4 FY26 | Quarter | 21,297 MTU WO3 | Reported |
| WO3 sold in concentrate | Dolphin | Q4 FY26 | Quarter | 25,514 MTU WO3 | Reported |
| Plant feed (ore milled) | Dolphin | Q4 FY26 | Quarter | 77,953 t | Reported |
| Average feed grade | Dolphin | Q4 FY26 | Quarter | 0.45 % WO3 | Reported |
| WO3 produced in concentrate | Dolphin | Q1 FY27 | Quarter | 13,712 MTU WO3 | Reported |
| WO3 sold in concentrate | Dolphin | Q1 FY27 | Quarter | 12,782 MTU WO3 | Reported |
| Plant feed (ore milled) | Dolphin | Q1 FY27 | Quarter | 81,098 t | Reported |
| Average feed grade | Dolphin | Q1 FY27 | Quarter | 0.29 % WO3 | Reported |
| Concentrate sales revenue | Company | Q1 FY26 | Quarter | 10,100,000 AUD | Source Derived |
| Concentrate sales revenue | Company | Q2 FY26 | Quarter | 17,550,000 AUD | Reported |
| Concentrate sales revenue | Company | Q3 FY26 | Quarter | 32,200,000 AUD | Reported |
| Concentrate sales revenue | Company | Q4 FY26 | Quarter | 69,100,000 AUD | Reported |
| Concentrate sales revenue | Company | Q1 FY27 | Quarter | 35,500,000 AUD | Reported |
| Cash at quarter end | Company | Q4 FY25 | Point In Time | 7,626,000 AUD | Reported |
| Cash at quarter end | Company | Q1 FY26 | Point In Time | 2,199,000 AUD | Reported |
| Cash at quarter end | Company | Q2 FY26 | Point In Time | 3,470,000 AUD | Reported |
| Cash at quarter end | Company | Q3 FY26 | Point In Time | 14,387,000 AUD | Reported |
| Cash at quarter end | Company | Q4 FY26 | Point In Time | 49,327,000 AUD | Reported |
| Cash at quarter end | Company | Q1 FY27 | Point In Time | 54,113,000 AUD | Reported |
| WO3 produced in concentrate | Dolphin | FY26 | Year | 88,911 MTU WO3 | Reported |
| WO3 sold in concentrate | Dolphin | FY26 | Year | 92,964 MTU WO3 | Reported |
| Plant feed (ore milled) | Dolphin | FY26 | Year | 272,421 t | Reported |
| Revenue from contracts with customers | Company | FY26 | Year | 128,966,000 AUD | Reported |
| Revenue from contracts with customers | Company | FY25 | Year | 21,221,000 AUD | Reported |
| Underlying EBITDA (excl. impairment reversal and warrant gain) | Company | FY26 | Year | 70,072,000 AUD | Source Derived |
| Underlying EBITDA (excl. warrant gain) | Company | FY25 | Year | -13,268,000 AUD | Source Derived |
| Operating cash flow less capex | Company | FY26 | Year | 44,523,000 AUD | Source Derived |
| Plant WO3 recovery (approximate, recent periods) | Dolphin | FY26 | Year | 60 % | Reported |
| ROM ore stockpiles at 0.24% WO3 (about 49k MTU) | Dolphin | 30 Sep 2026 | Point In Time | 207,000 t | Reported |
| Underground ore mined at 0.57% WO3 | Dolphin | Q1 FY27 | Quarter | 5,144 t | Reported |
| Loans and fleet facility drawn (face) | Company | 30 Sep 2026 | Point In Time | 23,555,000 AUD | Reported |
Capital history
Capital events
| Date | Event | Amount | Shares | Price | Status | Terms |
|---|---|---|---|---|---|---|
| 2027-04-30Ann. 2026-10-29 | Debt | A$23.4M | — | — | Announced | — |
| 2025-10-31Ann. 2025-10-29 | RaisingOrdinary Shares | A$9.9M | 28.3M | A$0.35 | Completed | Senior lenders exercised 28.3m warrants at A$0.35, reducing loans by A$9.92m; 44.0m warrants expired.Max 72.3M · Period 2025-04-30 to 2025-10-31 |
| 2025-09-30 | Debt | A$3M | — | — | Completed | — |
| 2025-04-30Ann. 2025-03-21 | RaisingOrdinary Shares (Pre Consolidation) | A$5.9M | 1.7B | A$0.004 | Completed | Recapitalisation: A$5.94m placement plus conversion of A$77.4m of loans and interest into 18.47bn shares and A$3.7m of creditors into 0.74bn shares, new 12% facilities from the senior lenders and the State of Tasmania, and 7.23bn warrants at A$0.0035.Holder approval required |
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.
Royalties from the BDO IER and FY26 accounts; offtake counterparties from the Xenith report (2024 company presentation) and the FY25 annual report; full offtake pricing terms, volumes and expiry dates are not disclosed. The company states it is unhedged.
Tasmanian statutory royalty on net sales with a profit component, capped at 5.35% of net sales; at current margins it sits at the cap.
Royalty · Active- Counterparties
- State of Tasmania
- Applies to
- Dolphin Tungsten Mine (including Bold Head), King Island · Tungsten
- Economic direction
- Burden
- Period
- Dates not stated
- Key terms
- Formula: 1.9% x net sales + 0.4 x P^2 / net sales
Cap: 5.35 % of net sales
How it affects our valuation
No valuation treatment is available for this arrangement.
1.5% gross revenue royalty, uncapped, payable quarterly.
Royalty · Active- Counterparties
- Osisko Gold Royalties Ltd
- Applies to
- Dolphin Tungsten Mine (including Bold Head), King Island · Tungsten
- Economic direction
- Burden
- Period
- Dates not stated
- Key terms
- Rate: 1.5 % of gross revenue
How it affects our valuation
No valuation treatment is available for this arrangement.
2% gross revenue royalty capped at A$3.9m in aggregate; on FY26 revenue of A$129m the cap was most likely reached, but completion is not confirmed in the documents read.
Royalty · Unknown- Counterparties
- HNC (Australia) Resources Holding Pty Ltd
- Applies to
- Dolphin Tungsten Mine (including Bold Head), King Island · Tungsten
- Economic direction
- Burden
- Period
- From 2009-01-01; no end date stated
- Key terms
- Rate: 2 % of gross revenue
Aggregate cap: 3,900,000 AUD
How it affects our valuation
No valuation treatment is available for this arrangement.
End-user offtake for about 20% of production, priced off the APT benchmark less concentrate deductions.
Offtake · Active- Counterparties
- Wolfram Bergbau und Huetten AG
- Applies to
- Dolphin Tungsten Mine (including Bold Head), King Island · Tungsten
- Economic direction
- Mixed
- Period
- Dates not stated
- Key terms
- Share of production: 20 %
Benchmark: APT CIF Rotterdam (low price)
How it affects our valuation
No valuation treatment is available for this arrangement.
Trader offtake plus a marketing agency agreement for the uncontracted balance; FY26 sales were to offtake partners with China the primary customer market.
Offtake · Active- Counterparties
- Traxys group
- Applies to
- Dolphin Tungsten Mine (including Bold Head), King Island · Tungsten
- Economic direction
- Mixed
- Period
- Dates not stated
- Key terms
- Contracted share (with WBH): 59 % of average production
Marketing agency: —
How it affects our valuation
No valuation treatment is available for this arrangement.
Underground development and production contract; rates are not disclosed.
Other · Active- Counterparties
- HMR Drilling Services
- Applies to
- Dolphin Tungsten Mine (including Bold Head), King Island · Tungsten
- Economic direction
- Burden
- Period
- 2026-04-01 to 2029-04-30
- Key terms
- Term: 3 years
How it affects our valuation
No valuation treatment is available for this arrangement.
Intrinsic value
Valuation
Valuation
Bear, base and bull values, investment cases, project valuations and the equity bridge are available to subscribers.
Sign in or enter a guest codeResource-price transmission
Sensitivity lab
Sensitivity lab
How our fair value responds to commodity prices and other drivers is available to subscribers.
Sign in or enter a guest codePeople, delivery and responsibility
Management background checks
G6M's two-person disclosed executive roster combines an executive chair with a long-serving governance professional, and the issuer's website still names former operations executive Tony Davis. Operational results improved and trading resumed in July 2026, but the September quarter's feed grade and output fell as open-cut stockpiles depleted. The company also disclosed retrospective ASX Listing Rule 10.1 approvals after its compliance process failed to identify the effect of negative equity on transactions with a director-related supplier. The filings do not establish personal wrongdoing by Kevin Pallas or Dale Elphinstone. Tony Davis's current status at G6M is unresolved because the website is stale relative to his 2026 Austmine CEO appointment.
Decision-relevant facts
Material summary
Kevin Pallas
Executive Chairman; senior-most executive officer
Company SuccessIssuer Reported · High materiality
G6M reported stronger throughput and operating cash, but low-grade feed constrained output
In the September 2026 quarter G6M reported record plant throughput of 81,098 tonnes, 13,712 MTU WO3 production, sales of 12,782 MTU, A$14.7 million operating cash generation, A$4.8 million net cash inflow and A$54.1 million cash. Feed grade was 0.29% WO3, production was below the preceding quarter's 21,297 MTU, and the company said the first underground ore became available for blending. The last four quarters included one LTI in Q3 FY26 and none in the other three quarters. Pallas was Executive Chairman during the period; the filings establish company results and role overlap, not personal causation.
Role overlaps event; causation unproven · Pallas was Executive Chairman; no source attributes production or cash outcomes to him individually.
Group 6 Metals Limited Annual Report for the year ended 30 June 2026 · pp. 4-6, Chairman's letter and operating discussion
Quarterly Activities Report and Appendix 5B Cash Flow Report, quarter ended 30 September 2026 · pp. 1-3, production, cash and LTI comparison table
Company SuccessIssuer Reported · Medium materiality
Trading reinstated after a prolonged suspension and compliance remediation
G6M reported that trading in its securities was reinstated on 30 July 2026. The FY26 Chairman's letter describes work to meet ASX recompliance requirements following suspension. Pallas had been Executive Chairman since 4 December 2024, overlapping the remedial period; the reviewed evidence does not isolate his contribution or the precise start date of the suspension.
Role overlaps event; causation unproven · Pallas was Executive Chairman during the latter part of the suspension and reinstatement process; no personal attribution is established.
Group 6 Metals Limited Annual Report for the year ended 30 June 2026 · p. 4, Chairman's letter
Quarterly Activities Report and Appendix 5B Cash Flow Report, quarter ended 30 September 2026 · p. 1, corporate highlights
GovernanceDocumented · High materiality
G6M disclosed a related-party approval lapse and retrospective ASX remediation
G6M's June 2026 meeting materials say the company had negative consolidated equity of A$57.408 million in its FY24 annual report lodged 1 July 2025. Under the company's explanation of Listing Rule 10.1, acquisitions from entities associated with director Dale Elphinstone required prior shareholder approval after that point; the compliance process did not identify the change and purchases continued without it. G6M said the transactions were on arm's-length terms and could not practically be unwound; ASX required retrospective shareholder approval as part of reinstatement. Executive Chairman Pallas and director Ellis recommended approval, and all eight resolutions passed on 3 July 2026. An independent expert concluded the transactions were fair and reasonable to non-associated shareholders. This is a company compliance lapse during Pallas's tenure, not evidence of his personal wrongdoing, dishonest conduct or improper pricing.
Role overlaps event; causation unproven · The company expressly describes its control failure; Pallas was Executive Chairman, recommended remediation and signed meeting materials. No reviewed source assigns him personal responsibility for the missed rule change.
Notice of General Meeting/Proxy Form · explanatory statement pp. 7-9; background and ASX Listing Rule 10.1
Results of General Meeting · meeting results pp. 1-2; poll outcomes
Evidence gaps · 3
- Engenco biographies state a BCom but do not identify the institution; no independent credential verification was found.
- Individual operational responsibility for G6M's production, financial, safety, environmental and ASX-recompliance outcomes is not established by the company-level disclosures.
- The exact start date of G6M's trading suspension was not independently reconciled in this report.
Andrew Bickley
Company Secretary
Role FitAnalyst Inference · Medium materiality
Company-secretarial and cross-jurisdiction listing experience fits the G6M role
G6M and Botanix report more than 15 years of company-secretarial work, prior ASX and JSE listing-compliance responsibilities, and management of 40-120 group subsidiaries across DRA and Fortescue. DRA records Bickley's exact 2023-2024 company-secretary dates. The underlying job assignments and personal compliance outcomes are not independently detailed.
Responsibility not applicable · Role-fit assessment from disclosed experience; it does not infer outcomes or fault.
Group 6 Metals Limited Annual Report for the year ended 30 June 2026 · p. 6, Company Secretary biography
DRA Global Annual Report 2024 · p. 22, Company Secretary biography
Appointment of Company Secretary · p. 1, appointment biography
GovernanceIssuer Reported · Medium materiality
Bickley became an interim non-independent director at a concurrent issuer
Botanix says Bickley remained Company Secretary and became an interim Non-Executive Director on 18 October 2026 after two directors resigned. Botanix expressly says he would not be classified as independent because of his existing officer role; the interim appointment was intended to fill a casual vacancy while it searched for independent replacements. This was the board's succession decision, not a finding of misconduct by Bickley.
Individual involvement documented · The appointment is documented; the company states the role is not independent because of his existing officer position.
Botanix Pharmaceuticals Quarterly Activity Report and 4C Quarterly Cash Flow Report Q1 FY27 · p. 3, Botanix Board renewal
Evidence gaps · 3
- No independent verification of the University of Essex degree or professional memberships was located.
- Exact Fortescue tenure and the allocation of the 40-120 subsidiary-management claim between Fortescue and DRA are not disclosed.
- Botanix's interim directorship is non-independent due to his company-secretary role and was scheduled to run only to the November 2026 AGM; the later board election outcome is outside this cutoff.
Tony Davis
Former Executive General Manager – Operations (G6M); Chief Executive Officer (Austmine) from 1 April 2026
SafetyDocumented · Medium materiality
One worker death was reported at Lubambe during Davis's operations-director tenure
A January 2021 account of a mine visit refers to a November 2020 tragedy that claimed one life and identifies Davis as Lubambe Director Operations at the time. The reviewed source does not give the cause, the deceased worker's employer, investigation findings, enforcement outcome or Davis's personal involvement. No fault is attributed to him.
Role overlaps event; causation unproven · Operations-director tenure overlaps the reported fatality; available evidence does not establish involvement, causation or personal fault.
Zambian President pledges support for Lubambe mine extension project · report text, November 2020 fatality reference and Davis role
GovernanceDocumented · Medium materiality
G6M's management page conflicts with Davis's later Austmine CEO role
The G6M management page still identifies Davis as EGM Operations, but a March 2026 appointment report states that he would begin as Austmine CEO on 1 April 2026 after an Austrade role, and a 2026 conference biography identifies him as Austmine CEO. No G6M departure notice or exact cessation date was located. The report records him as departed from G6M while preserving the unresolved date and possible transition overlap.
Responsibility unresolved · This is an unresolved company-page/status discrepancy, not a conduct finding.
Management Team · Management Team page, Davis role
Austmine appoints Tony Davis as new CEO · CEO start and prior role
Tony Davis, Chief Executive Officer · 2026 speaker biography
Evidence gaps · 3
- No G6M departure notice for Davis or exact date ending his EGM Operations role was located; G6M's management page appears stale against the later Austmine CEO appointment.
- The cause, inquiry and regulatory outcome relating to the Lubambe fatality in November 2020 were not located; no personal responsibility is established.
- Prior-employer dates, qualifications and project-level delivery outcomes are incomplete and mostly issuer-reported.
Company ownership
Investors & shareholders
Top registered shareholders
Register at 2026-09-07 · 247,652,282 issued shares
| # | Investor / registered holder | % issued shares | Shares held |
|---|---|---|---|
| 1 | 25.52% | 63,211,694 | |
| 2 | 23.19% | 57,432,014 | |
| 3 | 21.20% | 52,491,237 | |
| 4 | 10.59% | 26,230,448 | |
| 5 | 8.97% | 22,225,460 | |
| 6 | 5.27% | 13,049,862 | |
| 7 | 2.43% | 6,012,325 | |
| 8 | 0.40% | 1,000,000 | |
| 9 | 0.18% | 440,000 | |
| 10 | 0.07% | 185,704 | |
| 11 | 0.05% | 124,405 | |
| 12 | 0.05% | 117,523 | |
| 13 | 0.04% | 96,895 | |
| 14 | 0.04% | 96,693 | |
| 15 | 0.03% | 85,054 | |
| 16 | 0.03% | 81,812 | |
| 17 | 0.03% | 72,081 | |
| 18 | 0.03% | 70,000 | |
| 19 | 0.03% | 64,148 | |
| 20 | 0.02% | 57,788 |
Disclosed substantial holders
Latest reviewed disclosure for each holder or reporting group
| Investor / reported group | Disclosed holding | Holding at |
|---|---|---|
| 25.52%Issued shares | 2026-09-07 | |
| 23.19%Issued shares | 2026-09-07 | |
| 21.20%Issued shares | 2026-09-07 | |
| 10.59%Issued shares | 2026-09-07 | |
| 8.97%Issued shares | 2026-09-07 | |
| 5.27%Issued shares | 2026-09-07 |
Sources & review notesEvidence checked through 2026-11-01
Coverage and limitations
- The FY2026 annual report Top 20 is dated 7 September 2026 and is not a live beneficial-owner register. The local ASX manifest reports collection complete through the cutoff; later filings reviewed here disclose no changed ordinary-share denominator, while individual positions remain at their filing dates.
- Elphinstone Holdings Pty Ltd is shown at 57,432,014 shares in the 7 September annual-report Top 20, but its 21 August Appendix 3Y reports 57,415,780 shares after an 18 August sale. The 16,234-share difference (about 0.0066% of issued shares) is unresolved; the later-dated annual-report register value is retained with a row caveat.
- The annual report's substantial-shareholder table repeats the identical Elphinstone Holdings Pty Ltd entry. It is included once. The Top 20 table includes combined/group and nominee account labels, and does not disclose every ultimate beneficial owner.
Sources
- FY2026 Annual Report to Shareholders
Group 6 Metals Limited / ASX · Published 2026-09-25 · Accessed 2026-11-01
Reports 247,652,282 ordinary shares on issue and the 20 largest holders and disclosed substantial shareholders at 7 September 2026. Page 90 repeats Elphinstone Holdings Pty Ltd in the substantial-shareholder table; the identical entry is de-duplicated in this snapshot.
2026/2026-09-25_FY2026 Annual Report to Shareholders_1cf80d2be738ce5a.pdf, pp. 89-90: 20 Largest Holders, issued capital, and substantial shareholders
- Change of Director's Interest Notice - Dale Elphinstone
Group 6 Metals Limited / ASX · Published 2026-08-21 · Accessed 2026-11-01
Dale Elphinstone reported control of Elphinstone Holdings Pty Ltd and 57,415,780 ordinary shares after a sale of 16,234 shares on 18 August 2026, creating a 16,234-share discrepancy with the later annual report table.
2026/2026-08-21_Change of Director's Interest Notice_875bc0e495db8edc.pdf, pp. 1-2: Part 1, interest in Elphinstone Holdings Pty Ltd and sale on 18 August 2026
- Change of Director's Interest Notice - Christopher Ellis
Group 6 Metals Limited / ASX · Published 2026-10-01 · Accessed 2026-11-01
Reports 63,211,694 ordinary shares held through entities for which Mr Ellis is sole director and a beneficiary; the October change was expiry of 30,000 performance options and his ordinary share count was unchanged.
2026/2026-10-01_Change of Director's Interest Notice_04518bff51979a25.pdf, pp. 1-2: Part 1, combined holdings in Chrysalis Investments Pty Ltd and CJRE Maritime Pty Ltd
- Notification regarding unquoted securities - G6M
Group 6 Metals Limited / ASX · Published 2026-09-29 · Accessed 2026-11-01
The issue was 480,000 unquoted performance rights; the Appendix 3G reports 247,652,282 ordinary shares on issue following the issue.
2026/2026-09-29_Notification regarding unquoted securities - G6M_eef2caf36deb146a.pdf, pp. 1-6: Appendix 3G, issue of 480,000 performance rights; p. 5 reports quoted shares
- Notification of cessation of securities - G6M
Group 6 Metals Limited / ASX · Published 2026-10-01 · Accessed 2026-11-01
The only security cessation was expiry of 30,000 unquoted options; ordinary shares remained 247,652,282.
2026/2026-10-01_Notification of cessation of securities - G6M_dadf303f00e29978.pdf, pp. 1-4: Appendix 3H, expiry of 30,000 options and issued capital after cessation
Disclosed activity
Insider transactions
Trading activity15 buys · 1 sell shownNet cash last 12 months −A$64.9kShow chartHide chart
On-market buyPlacement / plan subscriptionSaleMarker size = cash valueGrant, exercise, expiry or transferBars: cash bought (up) and sold (down) per month
| Date | Person / account | Activity / security | Quantity | Cash consideration | Price | Holding after |
|---|---|---|---|---|---|---|
| 2026-10-01 | Christopher Ellis
Details & evidence for Christopher Ellis on 2026-10-01The form date of change is 1 October 2026; the stated security expiry date is 30 September 2026. As disclosed: Expiry of options without exercise.
Director, Group 6 Metals Limited · Start not disclosed Chrysalis Investments Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity CJRE Maritime Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | ExpiryUnquoted performance options expiring 30 September 2026 | 30,000 | —Non Cash | — | 0 |
| 2026-08-18 | Dale Brendon ElphinstoneElphinstone Holdings Pty Ltd (EHPL)
Details & evidence for Dale Brendon Elphinstone on 2026-08-18The 3Y's disclosed transaction and post-sale balance reconcile exactly. The 28 July Statement of Confirmations also reports the 57,432,014 pre-sale balance. The later issuer position conflict is recorded on the post-sale holding observation. As disclosed: Sale of ordinary shares on market.
Director, Group 6 Metals Limited · Start not disclosed Elphinstone Holdings Pty Ltd (EHPL) · Controls Elphinstone Holdings Pty Ltd, the registered holder of the securities Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ Statement of Confirmations ↗ FY2026 Annual Report to Shareholders ↗ | SaleOrdinary shares | 16,234 | AUD 64,936.00 | AUD 4Disclosed price | 57,415,780 |
| 2026-07-10 | Kevin Pallas
Details & evidence for Kevin Pallas on 2026-07-10No cash purchase or sale is implied by the grant. As disclosed: Performance rights issued under the Company's employee incentive plan following approval by shareholders.
Management background report ↗ Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | GrantPerformance rights (expiry 10 July 2029) | 1,000,000 | —Non Cash | — | — |
| 2026-06-10 | Dale Brendon ElphinstoneElphinstone Holdings Pty Ltd (EHPL)
Details & evidence for Dale Brendon Elphinstone on 2026-06-10The disclosed balance changed from 133,929 to 44,643. As disclosed: Expiry of unlisted warrants on 10 June 2026.
Director, Group 6 Metals Limited · Start not disclosed Elphinstone Holdings Pty Ltd (EHPL) · Controls Elphinstone Holdings Pty Ltd, the registered holder of the securities Change of Director's Interest Notice x2 ↗ Change of Director's Interest Notice x2 ↗ | ExpiryUnquoted warrants, exercise A$19.60, various expiry dates | 89,286 | —Non Cash | — | 44,643 |
| 2026-06-10 | Christopher Ellis
Details & evidence for Christopher Ellis on 2026-06-10The disclosed balance changed from 120,536 to 40,179. As disclosed: Expiry of unlisted warrants on 10 June 2026.
Director, Group 6 Metals Limited · Start not disclosed Chrysalis Investments Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity CJRE Maritime Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity Change of Director's Interest Notice x2 ↗ Change of Director's Interest Notice x2 ↗ | ExpiryUnquoted warrants, exercise A$19.60, various expiry dates | 80,357 | —Non Cash | — | 40,179 |
| 2025-10-31 | Christopher Ellis
Details & evidence for Christopher Ellis on 2025-10-31The notice states the 1:100 consolidation applies to all holdings since the July 2025 3Y. As disclosed: Expiry of unexercised warrants.
Director, Group 6 Metals Limited · Start not disclosed Chrysalis Investments Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity CJRE Maritime Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity Change of Director's Interest Notice x2 ↗ Change of Director's Interest Notice x2 ↗ | ExpiryWarrants (exercise price $0.35, expiry 31 October 2025) | 2,857,143 | —Non Cash | — | — |
| 2025-10-31 | Christopher Ellis
Details & evidence for Christopher Ellis on 2025-10-31The notice attributes the indirect interest to Chrysalis Investments Pty Ltd and CJRE Maritime Pty Ltd but does not split this event by entity. As disclosed: Conversion of Warrants (exercise price $0.35, expiring 31 October 2025).
Director, Group 6 Metals Limited · Start not disclosed Chrysalis Investments Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity CJRE Maritime Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity Change of Director's Interest Notice x2 ↗ Change of Director's Interest Notice x2 ↗ | ExerciseOrdinary shares | 6,250,000 | AUD 2,187,500.00 | AUD 0.35Disclosed price | 63,211,694 |
| 2025-10-31 | Dale Brendon ElphinstoneElphinstone Holdings Pty Ltd (EHPL)
Details & evidence for Dale Brendon Elphinstone on 2025-10-31The 3Y reports the $0.35 warrants' expiry and the share conversions separately; no extra warrant quantity is assigned beyond the disclosed expiry amount. As disclosed: Expiry of unexercised warrants.
Director, Group 6 Metals Limited · Start not disclosed Elphinstone Holdings Pty Ltd (EHPL) · Controls Elphinstone Holdings Pty Ltd, the registered holder of the securities Change of Director's Interest Notice x2 ↗ Change of Director's Interest Notice x2 ↗ | ExpiryWarrants (exercise price $0.35, expiry 31 October 2025) | 6,310,716 | —Non Cash | — | — |
| 2025-10-31 | Dale Brendon ElphinstoneElphinstone Holdings Pty Ltd (EHPL)
Details & evidence for Dale Brendon Elphinstone on 2025-10-31Share increase recorded once as an exercise event. The matching holder notice supplies the exact date and total cash consideration; the A$0.45 multiplication difference is retained as a minor filing rounding discrepancy. As disclosed: 14,046,427 ordinary shares were acquired through the conversion of Warrants (exercise price $0.35, expiring 31 October 2025).
Director, Group 6 Metals Limited · Start not disclosed Elphinstone Holdings Pty Ltd (EHPL) · Controls Elphinstone Holdings Pty Ltd, the registered holder of the securities Change of Director's Interest Notice x2 ↗ Change of Director's Interest Notice x2 ↗ Change in substantial holding - Elphinstone ↗ Change in substantial holding - Elphinstone ↗ | ExerciseOrdinary shares | 14,046,427 | AUD 4,916,249.00 | AUD 0.35Disclosed price | — |
| 2025-10-29 | Dale Brendon ElphinstoneElphinstone Holdings Pty Ltd (EHPL)
Details & evidence for Dale Brendon Elphinstone on 2025-10-29The deed confirms this was EHPL's cash purchase from Pure; Dale's indirect interest increased through EHPL. The director's 3Y calls the acquisition an off-market transfer-in, and the seller and purchaser filings match the exact shares and consideration. As disclosed: 8,035,715 ordinary shares were acquired through an off-market transfer.
Director, Group 6 Metals Limited · Start not disclosed Elphinstone Holdings Pty Ltd (EHPL) · Controls Elphinstone Holdings Pty Ltd, the registered holder of the securities Change of Director's Interest Notice x2 ↗ Change of Director's Interest Notice x2 ↗ Change in substantial holding - Pure Transfer ↗ Change in substantial holding - Elphinstone ↗ Change in substantial holding - Elphinstone ↗ Change in substantial holding - Elphinstone ↗ | PurchaseOrdinary shares | 8,035,715 | AUD 2,812,500.00 | AUD 0.35Calculated average | — |
| 2025-07-08 | Dale Brendon ElphinstoneElphinstone Holdings Pty Ltd (EHPL)
Details & evidence for Dale Brendon Elphinstone on 2025-07-08This 3Y confirms the 30 June expiry for the A$0.21 class despite the earlier initial notice typo. As disclosed: Cancellation following expiry of options.
Director, Group 6 Metals Limited · Start not disclosed Elphinstone Holdings Pty Ltd (EHPL) · Controls Elphinstone Holdings Pty Ltd, the registered holder of the securities Change of Director's Interest Notice x2 ↗ Change of Director's Interest Notice x2 ↗ | ExpiryUnquoted options, exercise A$0.21, expiry 30 June 2025 | 23,809,527 | —Non Cash | — | 0 |
| 2025-07-08 | Christopher EllisChrysalis Investments Pty Ltd
Details & evidence for Christopher Ellis on 2025-07-08Form date of change is 8 July; expiry date was 30 June 2025. As disclosed: Cancellation following expiry of options.
Director, Group 6 Metals Limited · Start not disclosed Chrysalis Investments Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity CJRE Maritime Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity Change of Director's Interest Notice x2 ↗ Change of Director's Interest Notice x2 ↗ | ExpiryUnquoted options, exercise A$0.21, expiry 30 June 2025 | 23,809,527 | —Non Cash | — | 0 |
| 2025-06-19 | Dale Brendon ElphinstoneElphinstone Holdings Pty Ltd (EHPL)
Details & evidence for Dale Brendon Elphinstone on 2025-06-19The notice reports the post-expiry balance as 13,392,857. As disclosed: Expiry of unexercised warrants.
Director, Group 6 Metals Limited · Start not disclosed Elphinstone Holdings Pty Ltd (EHPL) · Controls Elphinstone Holdings Pty Ltd, the registered holder of the securities Change of Director's Interest Notice x2 ↗ Change of Director's Interest Notice x2 ↗ | ExpiryUnquoted warrants, exercise A$0.196 | 13,392,857 | —Non Cash | — | 13,392,857 |
| 2025-06-19 | Christopher EllisChrysalis Investments Pty Ltd
Details & evidence for Christopher Ellis on 2025-06-19The disclosed post-expiry balance is retained. As disclosed: Expiry of unexercised warrants.
Director, Group 6 Metals Limited · Start not disclosed Chrysalis Investments Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity CJRE Maritime Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity Change of Director's Interest Notice x2 ↗ Change of Director's Interest Notice x2 ↗ | ExpiryUnquoted warrants, exercise A$0.196 | 12,053,571 | —Non Cash | — | 12,053,571 |
| 2025-04-30 | Kevin Pallas
Details & evidence for Kevin Pallas on 2025-04-30The Pallas notice reports 38,000,000 options in this class. As disclosed: Options acquired under the employee incentive plan.
Management background report ↗ Change of Director's Interest Notice x3 ↗ Results of Meeting ↗ | GrantUnquoted options, exercise A$0.0104, expiry 30 April 2028 | 38,000,000 | —Non Cash | — | — |
| 2025-04-30 | Kevin Pallas
Details & evidence for Kevin Pallas on 2025-04-30The Pallas notice reports 38,000,000 options in this class. As disclosed: Options acquired under the employee incentive plan.
Management background report ↗ Change of Director's Interest Notice x3 ↗ Results of Meeting ↗ | GrantUnquoted options, exercise A$0.0052, expiry 30 April 2027 | 38,000,000 | —Non Cash | — | — |
| 2025-04-30 | Christopher EllisChrysalis Investments Pty Ltd
Details & evidence for Christopher Ellis on 2025-04-30The warrant grant is separate from the exercise and later expiry events. As disclosed: New warrants granted under the recapitalisation.
Director, Group 6 Metals Limited · Start not disclosed Chrysalis Investments Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity CJRE Maritime Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity Change of Director's Interest Notice x3 ↗ Notice of General Meeting/Proxy Form ↗ | GrantWarrants, exercise A$0.0035, expiry 31 October 2025 | 910,714,286 | —Non Cash | — | — |
| 2025-04-30 | Christopher EllisCJRE Maritime Pty Ltd
Details & evidence for Christopher Ellis on 2025-04-30CJRE is controlled by Ellis. As disclosed: Existing unsecured debt converted to shares.
Director, Group 6 Metals Limited · Start not disclosed Chrysalis Investments Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity CJRE Maritime Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity Change of Director's Interest Notice x3 ↗ Notice of General Meeting/Proxy Form ↗ | SubscriptionOrdinary shares | 710,958,904 | —Non Cash | AUD 0.005Disclosed price | — |
| 2025-04-30 | Christopher EllisChrysalis Investments Pty Ltd
Details & evidence for Christopher Ellis on 2025-04-30The 3Y and Notice of Meeting give matching share quantity and reduction terms. As disclosed: Existing unsecured debt converted to shares.
Director, Group 6 Metals Limited · Start not disclosed Chrysalis Investments Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity CJRE Maritime Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity Change of Director's Interest Notice x3 ↗ Notice of General Meeting/Proxy Form ↗ | SubscriptionOrdinary shares | 344,827,808 | —Non Cash | AUD 0.005Disclosed price | — |
| 2025-04-30 | Christopher EllisCJRE Maritime Pty Ltd
Details & evidence for Christopher Ellis on 2025-04-30CJRE is controlled by Ellis. As disclosed: Existing secured debt converted to shares.
Director, Group 6 Metals Limited · Start not disclosed Chrysalis Investments Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity CJRE Maritime Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity Change of Director's Interest Notice x3 ↗ Notice of General Meeting/Proxy Form ↗ | SubscriptionOrdinary shares | 1,644,626,256 | —Non Cash | AUD 0.004Disclosed price | — |
| 2025-04-30 | Christopher EllisChrysalis Investments Pty Ltd
Details & evidence for Christopher Ellis on 2025-04-30The disclosed loan reduction rounds to the stated share amount at A$0.004 per share. As disclosed: Existing secured debt converted to shares.
Director, Group 6 Metals Limited · Start not disclosed Chrysalis Investments Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity CJRE Maritime Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity Change of Director's Interest Notice x3 ↗ Notice of General Meeting/Proxy Form ↗ | SubscriptionOrdinary shares | 2,551,886,238 | —Non Cash | AUD 0.004Disclosed price | — |
| 2025-04-30 | Christopher EllisChrysalis Investments Pty Ltd
Details & evidence for Christopher Ellis on 2025-04-30Cash tranche only; not mixed with debt-conversion shares. As disclosed: Chrysalis subscribed for additional shares under the Equity Issue.
Director, Group 6 Metals Limited · Start not disclosed Chrysalis Investments Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity CJRE Maritime Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity Change of Director's Interest Notice x3 ↗ Notice of General Meeting/Proxy Form ↗ | SubscriptionOrdinary shares | 303,571,429 | AUD 1,062,500.00 | AUD 0.0035Disclosed price | — |
| 2025-04-30 | Dale Brendon ElphinstoneElphinstone Holdings Pty Ltd (EHPL)
Details & evidence for Dale Brendon Elphinstone on 2025-04-30The warrant grant is separate from later warrant conversion/expiry events. As disclosed: New warrants granted under the recapitalisation.
Director, Group 6 Metals Limited · Start not disclosed Elphinstone Holdings Pty Ltd (EHPL) · Controls Elphinstone Holdings Pty Ltd, the registered holder of the securities Change of Director's Interest Notice x3 ↗ Notice of General Meeting/Proxy Form ↗ | GrantWarrants, exercise A$0.0035, expiry 31 October 2025 | 2,035,714,286 | —Non Cash | — | — |
| 2025-04-30 | Dale Brendon ElphinstoneElphinstone Holdings Pty Ltd (EHPL)
Details & evidence for Dale Brendon Elphinstone on 2025-04-30The same economic transaction is represented in major-holder view. As disclosed: Existing unsecured debt converted to shares.
Director, Group 6 Metals Limited · Start not disclosed Elphinstone Holdings Pty Ltd (EHPL) · Controls Elphinstone Holdings Pty Ltd, the registered holder of the securities Change of Director's Interest Notice x3 ↗ Notice of General Meeting/Proxy Form ↗ | SubscriptionOrdinary shares | 212,343,245 | —Non Cash | AUD 0.005Disclosed price | — |
| 2025-04-30 | Dale Brendon ElphinstoneElphinstone Holdings Pty Ltd (EHPL)
Details & evidence for Dale Brendon Elphinstone on 2025-04-30The same economic transaction is represented in major-holder view. As disclosed: Existing secured debt converted to shares.
Director, Group 6 Metals Limited · Start not disclosed Elphinstone Holdings Pty Ltd (EHPL) · Controls Elphinstone Holdings Pty Ltd, the registered holder of the securities Change of Director's Interest Notice x3 ↗ Notice of General Meeting/Proxy Form ↗ | SubscriptionOrdinary shares | 2,582,191,990 | —Non Cash | AUD 0.004Disclosed price | — |
| 2025-04-30 | Dale Brendon ElphinstoneElphinstone Holdings Pty Ltd (EHPL)
Details & evidence for Dale Brendon Elphinstone on 2025-04-30The same economic transaction is represented in major-holder view. As disclosed: Shares subscribed for under the Equity Issue.
Director, Group 6 Metals Limited · Start not disclosed Elphinstone Holdings Pty Ltd (EHPL) · Controls Elphinstone Holdings Pty Ltd, the registered holder of the securities Change of Director's Interest Notice x3 ↗ Notice of General Meeting/Proxy Form ↗ | SubscriptionOrdinary shares | 678,571,429 | AUD 2,375,000.00 | AUD 0.0035Disclosed price | — |
| 2025-04-09 | Johann JacobsFinMin Solutions Pty Ltd
Details & evidence for Johann Jacobs on 2025-04-09Holder identity is established by the annual reports. The Appendix 2A supplies the issued share quantity and nil exercise price; no post-exercise balance is reported. As disclosed: Conversion of 7,000,000 options under ASX code G6MAA to 7,000,000 fully paid shares of G6M.
Director, Group 6 Metals Limited · Start not disclosed FinMin Solutions Pty Ltd · Related entity through which G6M securities are held Application for quotation of securities - G6M ↗ Notification of cessation of securities - G6M ↗ FY2024 Annual Report to shareholders ↗ FY2025 Annual Report to Shareholders ↗ | ExerciseOrdinary shares issued on conversion of G6MAA nil-exercise-price performance options | 7,000,000 | —Non Cash | — | — |
| 2025-01-31 | Dale Brendon ElphinstoneElphinstone Holdings Pty Ltd (EHPL)
Details & evidence for Dale Brendon Elphinstone on 2025-01-31A separate A$0.21 option class expires on 30 June 2025 as corrected by this later 3Y notice. As disclosed: Expiry of unexercised options.
Director, Group 6 Metals Limited · Start not disclosed Elphinstone Holdings Pty Ltd (EHPL) · Controls Elphinstone Holdings Pty Ltd, the registered holder of the securities Change of Director's Interest Notice (x2) - Late Lodgement ↗ Change of Director's Interest Notice (x2) - Late Lodgement ↗ | ExpiryUnquoted options, exercise A$0.28, expiry 31 January 2025 | 2,941,176 | —Non Cash | — | 0 |
| 2025-01-31 | Christopher EllisChrysalis Investments Pty Ltd
Details & evidence for Christopher Ellis on 2025-01-31Late-lodged notice states the options expired 31 January 2025. As disclosed: Expiry of unexercised options.
Director, Group 6 Metals Limited · Start not disclosed Chrysalis Investments Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity CJRE Maritime Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity Change of Director's Interest Notice (x2) - Late Lodgement ↗ Change of Director's Interest Notice (x2) - Late Lodgement ↗ | ExpiryUnquoted options, exercise A$0.28, expiry 31 January 2025 | 7,352,942 | —Non Cash | — | 0 |
| 2024-12-04 | Keith McKnight
Details & evidence for Keith McKnight on 2024-12-04The ASX 3H gives the cessation date and aggregate class quantity; the annual report directly ties the option tranche to McKnight. As disclosed: Lapse of options issued under Employee Incentive Plan upon cessation of employment.
Director, Group 6 Metals Limited · Start not disclosed Ballinacourty Holdings Pty Ltd · Related entity through which G6M securities are held Cragmore Superannuation Pty Ltd · Related entity through which G6M securities are held Notification of cessation of securities - G6M ↗ FY2024 Annual Report to shareholders ↗ | CancellationUnquoted options, exercise A$0.22, expiry 14 July 2028 | 2,500,000 | —Non Cash | — | 0 |
| 2024-12-04 | Keith McKnight
Details & evidence for Keith McKnight on 2024-12-04The ASX 3H gives the cessation date and aggregate class quantity; the annual report directly ties the option tranche to McKnight. As disclosed: Lapse of options issued under Employee Incentive Plan upon cessation of employment.
Director, Group 6 Metals Limited · Start not disclosed Ballinacourty Holdings Pty Ltd · Related entity through which G6M securities are held Cragmore Superannuation Pty Ltd · Related entity through which G6M securities are held Notification of cessation of securities - G6M ↗ FY2024 Annual Report to shareholders ↗ | CancellationUnquoted options, exercise A$0.20, expiry 14 July 2027 | 2,500,000 | —Non Cash | — | 0 |
| 2024-12-04 | Keith McKnight
Details & evidence for Keith McKnight on 2024-12-04The ASX 3H gives the cessation date and aggregate class quantity; the annual report directly ties the option tranche to McKnight. As disclosed: Lapse of options issued under Employee Incentive Plan upon cessation of employment.
Director, Group 6 Metals Limited · Start not disclosed Ballinacourty Holdings Pty Ltd · Related entity through which G6M securities are held Cragmore Superannuation Pty Ltd · Related entity through which G6M securities are held Notification of cessation of securities - G6M ↗ FY2024 Annual Report to shareholders ↗ | CancellationUnquoted options, exercise A$0.18, expiry 14 July 2026 | 2,500,000 | —Non Cash | — | 0 |
| 2024-12-03 | Dale Brendon ElphinstoneElphinstone Holdings Pty Ltd (EHPL)
Details & evidence for Dale Brendon Elphinstone on 2024-12-03Contractual entitlement, not an acquisition of issued warrants. As disclosed: Right to subscribe for up to 2,035,714,286 warrants.
Director, Group 6 Metals Limited · Start not disclosed Elphinstone Holdings Pty Ltd (EHPL) · Controls Elphinstone Holdings Pty Ltd, the registered holder of the securities Initial Director's Interest Notice - Dale Elphinstone ↗ | ContractContractual right to subscribe for up to 2,035,714,286 warrants at A$0.0035, expiry 31 October 2025 | 2,035,714,286 | —Not Disclosed | — | — |
| 2024-12-03 | Dale Brendon ElphinstoneElphinstone Holdings Pty Ltd (EHPL)
Details & evidence for Dale Brendon Elphinstone on 2024-12-03Contractual entitlement, not an acquisition of issued shares. As disclosed: Right to subscribe for up to 3,370,132,526 fully paid shares.
Director, Group 6 Metals Limited · Start not disclosed Elphinstone Holdings Pty Ltd (EHPL) · Controls Elphinstone Holdings Pty Ltd, the registered holder of the securities Initial Director's Interest Notice - Dale Elphinstone ↗ | ContractContractual right to subscribe for up to 3,370,132,526 ordinary shares | 3,370,132,526 | —Not Disclosed | — | — |
| 2024-10-15 | G Hancock
Details & evidence for G Hancock on 2024-10-15The form reports 1,000,000 options of this class expiring on the change date. As disclosed: Expiry/cancellation of options.
Director, Group 6 Metals Limited · Start not disclosed Change of Director's Interest Notice - G Hancock ↗ Change of Director's Interest Notice - G Hancock ↗ | ExpiryUnquoted options, exercise A$0.15, expiry 15 October 2024 | 1,000,000 | —Non Cash | — | 0 |
| 2024-10-15 | G Hancock
Details & evidence for G Hancock on 2024-10-15The form reports 1,000,000 options of this class expiring on the change date. As disclosed: Expiry/cancellation of options.
Director, Group 6 Metals Limited · Start not disclosed Change of Director's Interest Notice - G Hancock ↗ Change of Director's Interest Notice - G Hancock ↗ | ExpiryUnquoted options, exercise A$0.13, expiry 15 October 2024 | 1,000,000 | —Non Cash | — | 0 |
| 2024-10-15 | G Hancock
Details & evidence for G Hancock on 2024-10-15The form reports 1,000,000 options of this class expiring on the change date. As disclosed: Expiry/cancellation of options.
Director, Group 6 Metals Limited · Start not disclosed Change of Director's Interest Notice - G Hancock ↗ Change of Director's Interest Notice - G Hancock ↗ | ExpiryUnquoted options, exercise A$0.11, expiry 15 October 2024 | 1,000,000 | —Non Cash | — | 0 |
| 2023-07-14 | Keith McKnight
Details & evidence for Keith McKnight on 2023-07-14The option was acquired on 14 July 2023. As disclosed: Options acquired for nil consideration.
Director, Group 6 Metals Limited · Start not disclosed Ballinacourty Holdings Pty Ltd · Related entity through which G6M securities are held Cragmore Superannuation Pty Ltd · Related entity through which G6M securities are held Change of Director's Interest Notice - Keith McKnight ↗ Change of Director's Interest Notice - Keith McKnight ↗ | GrantUnquoted options, exercise A$0.22, expiry 14 July 2028 | 2,500,000 | —Non Cash | — | 2,500,000 |
| 2023-07-14 | Keith McKnight
Details & evidence for Keith McKnight on 2023-07-14The option was acquired on 14 July 2023. As disclosed: Options acquired for nil consideration.
Director, Group 6 Metals Limited · Start not disclosed Ballinacourty Holdings Pty Ltd · Related entity through which G6M securities are held Cragmore Superannuation Pty Ltd · Related entity through which G6M securities are held Change of Director's Interest Notice - Keith McKnight ↗ Change of Director's Interest Notice - Keith McKnight ↗ | GrantUnquoted options, exercise A$0.20, expiry 14 July 2027 | 2,500,000 | —Non Cash | — | 2,500,000 |
| 2023-07-14 | Keith McKnight
Details & evidence for Keith McKnight on 2023-07-14The option was acquired on 14 July 2023. As disclosed: Options acquired for nil consideration.
Director, Group 6 Metals Limited · Start not disclosed Ballinacourty Holdings Pty Ltd · Related entity through which G6M securities are held Cragmore Superannuation Pty Ltd · Related entity through which G6M securities are held Change of Director's Interest Notice - Keith McKnight ↗ Change of Director's Interest Notice - Keith McKnight ↗ | GrantUnquoted options, exercise A$0.18, expiry 14 July 2026 | 2,500,000 | —Non Cash | — | 2,500,000 |
| 2023-07-11 | Keith McKnight
Details & evidence for Keith McKnight on 2023-07-11The form gives change dates 11 and 14 July 2023. As disclosed: Options acquired for nil consideration.
Director, Group 6 Metals Limited · Start not disclosed Ballinacourty Holdings Pty Ltd · Related entity through which G6M securities are held Cragmore Superannuation Pty Ltd · Related entity through which G6M securities are held Change of Director's Interest Notice - Keith McKnight ↗ Change of Director's Interest Notice - Keith McKnight ↗ | GrantUnquoted options, exercise A$0.21, expiry 30 June 2025 | 142,857 | —Non Cash | — | 142,857 |
| 2023-07-11 | Johann JacobsFinMin Solutions Pty Ltd
Details & evidence for Johann Jacobs on 2023-07-11Held through FinMin Solutions Pty Ltd. As disclosed: Options acquired for nil consideration.
Director, Group 6 Metals Limited · Start not disclosed FinMin Solutions Pty Ltd · Related entity through which G6M securities are held Change of Director's Interest Notice - Johann Jacobs ↗ Change of Director's Interest Notice - Johann Jacobs ↗ | GrantUnquoted options, exercise A$0.21, expiry 30 June 2025 | 166,667 | —Non Cash | — | 166,667 |
| 2023-07-11 | Christopher EllisChrysalis Investments Pty Ltd
Details & evidence for Christopher Ellis on 2023-07-11Held through Chrysalis Investments Pty Ltd. As disclosed: Options acquired for nil consideration.
Director, Group 6 Metals Limited · Start not disclosed Chrysalis Investments Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity CJRE Maritime Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity Change of Director's Interest Notice - Christopher Ellis ↗ Change of Director's Interest Notice - Christopher Ellis ↗ | GrantUnquoted options, exercise A$0.21, expiry 30 June 2025 | 23,809,527 | —Non Cash | — | 23,809,527 |
| 2023-06-27 | Keith McKnight
Details & evidence for Keith McKnight on 2023-06-27The 214,286 table quantity reconciles exactly to the 390,757 after-position from 176,471 before. As disclosed: The nature-of-change narrative says 250,000 shares; the acquisition table says 214,286.
Director, Group 6 Metals Limited · Start not disclosed Ballinacourty Holdings Pty Ltd · Related entity through which G6M securities are held Cragmore Superannuation Pty Ltd · Related entity through which G6M securities are held Change of Director's Interest Notice - Keith McKnight ↗ Change of Director's Interest Notice - Keith McKnight ↗ | SubscriptionOrdinary shares | 214,286 | — | AUD 0.14Disclosed price | 390,757 |
| 2023-06-27 | Johann JacobsFinMin Solutions Pty Ltd
Details & evidence for Johann Jacobs on 2023-06-27The cash amount is calculated from the disclosed quantity and unit price. As disclosed: Shares acquired at A$0.14 each.
Director, Group 6 Metals Limited · Start not disclosed FinMin Solutions Pty Ltd · Related entity through which G6M securities are held Change of Director's Interest Notice - Johann Jacobs ↗ | SubscriptionOrdinary shares | 250,000 | AUD 35,000.00 | AUD 0.14Disclosed price | 8,741,973 |
| 2023-06-27 | Christopher EllisChrysalis Investments Pty Ltd
Details & evidence for Christopher Ellis on 2023-06-27Same transaction as holder notice 2924-02680091-2A1457052. As disclosed: Shares acquired under placement.
Director, Group 6 Metals Limited · Start not disclosed Chrysalis Investments Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity CJRE Maritime Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity Change of Director's Interest Notice - Christopher Ellis ↗ Change in substantial holding - Chrysalis ↗ | SubscriptionOrdinary shares | 35,714,290 | AUD 5,000,000.00 | AUD 0.14Disclosed price | 140,298,596 |
| 2023-01-23 | Keith McKnight
Details & evidence for Keith McKnight on 2023-01-23The form shows nil shares prior to the change. As disclosed: Shares acquired at A$0.17 each.
Director, Group 6 Metals Limited · Start not disclosed Ballinacourty Holdings Pty Ltd · Related entity through which G6M securities are held Cragmore Superannuation Pty Ltd · Related entity through which G6M securities are held Change of Director's Interest Notice - Keith McKnight ↗ Change of Director's Interest Notice - Keith McKnight ↗ | SubscriptionOrdinary shares | 176,471 | — | AUD 0.17Disclosed price | 176,471 |
| 2023-01-23 | Keith McKnight
Details & evidence for Keith McKnight on 2023-01-23Indirect interests held through Ballinacourty Holdings Pty Ltd and Cragmore Superannuation Pty Ltd. As disclosed: Options acquired for nil consideration.
Director, Group 6 Metals Limited · Start not disclosed Ballinacourty Holdings Pty Ltd · Related entity through which G6M securities are held Cragmore Superannuation Pty Ltd · Related entity through which G6M securities are held Change of Director's Interest Notice - Keith McKnight ↗ | GrantUnquoted options, exercise A$0.28, expiry 31 January 2025 | 88,235 | —Non Cash | — | 88,235 |
| 2023-01-23 | Johann JacobsFinMin Solutions Pty Ltd
Details & evidence for Johann Jacobs on 2023-01-23The share balance increases by the disclosed 294,118 shares. As disclosed: Shares acquired at A$0.17 each.
Director, Group 6 Metals Limited · Start not disclosed FinMin Solutions Pty Ltd · Related entity through which G6M securities are held Change of Director's Interest Notice - Johann Jacobs ↗ Change of Director's Interest Notice - Johann Jacobs ↗ | SubscriptionOrdinary shares | 294,118 | — | AUD 0.17Disclosed price | 8,491,973 |
| 2023-01-23 | Johann JacobsFinMin Solutions Pty Ltd
Details & evidence for Johann Jacobs on 2023-01-23Related interest through FinMin Solutions Pty Ltd. As disclosed: Options acquired for nil consideration.
Director, Group 6 Metals Limited · Start not disclosed FinMin Solutions Pty Ltd · Related entity through which G6M securities are held Change of Director's Interest Notice - Johann Jacobs ↗ | GrantUnquoted options, exercise A$0.28, expiry 31 January 2025 | 147,059 | —Non Cash | — | 147,059 |
| 2023-01-23 | Christopher EllisChrysalis Investments Pty Ltd
Details & evidence for Christopher Ellis on 2023-01-23The quantity and cash subscription are corroborated by Form 604 2924-02624145-2A1427035. No speculative transaction is assigned to the misaligned 3Y consideration rows. As disclosed: Shares acquired; 3Y consideration table contains three 1,000,000-share lines at A$0.06, A$0.08 and A$0.10.
Director, Group 6 Metals Limited · Start not disclosed Chrysalis Investments Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity CJRE Maritime Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity Change of Director's Interest Notice - Christopher Ellis ↗ Change in substantial holding - Chrysalis ↗ | SubscriptionOrdinary shares | 14,705,883 | AUD 2,500,000.00 | AUD 0.17Disclosed price | 104,584,306 |
| 2023-01-23 | Christopher EllisChrysalis Investments Pty Ltd
Details & evidence for Christopher Ellis on 2023-01-23The notice reports options through Chrysalis Investments Pty Ltd. As disclosed: Options acquired for nil consideration.
Director, Group 6 Metals Limited · Start not disclosed Chrysalis Investments Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity CJRE Maritime Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity Change of Director's Interest Notice - Christopher Ellis ↗ Change of Director's Interest Notice - Christopher Ellis ↗ | GrantUnquoted options, exercise A$0.28, expiry 31 January 2025 | 7,352,942 | —Non Cash | — | 7,352,942 |
Disclosed holding observations35 dated positions
Initial, final and threshold notices describe positions; these are not counted as purchases or sales.
| Holding at | Person / group | Type / security | Quantity | Percentage |
|---|---|---|---|---|
| 2026-10-01 | Christopher Ellis
Details & evidence for Christopher Ellis on 2026-10-01The notice gives no specific expiry date for this remaining option class.
Director, Group 6 Metals Limited · Start not disclosed Chrysalis Investments Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity CJRE Maritime Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity Change of Director's Interest Notice ↗ | PositionUnquoted performance options expiring five years after vesting | 40,000 | — |
| 2026-10-01 | Christopher Ellis
Details & evidence for Christopher Ellis on 2026-10-01Reported after the 1 October 2026 option expiry; the notice does not allocate shares between the two holding entities.
Director, Group 6 Metals Limited · Start not disclosed Chrysalis Investments Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity CJRE Maritime Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity Change of Director's Interest Notice ↗ | PositionOrdinary shares | 63,211,694 | — |
| 2026-10-01 | Christopher Ellis
Details & evidence for Christopher Ellis on 2026-10-01The notice does not give individual expiry dates for the remaining warrants.
Director, Group 6 Metals Limited · Start not disclosed Chrysalis Investments Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity CJRE Maritime Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity Change of Director's Interest Notice ↗ | PositionWarrants (exercise price $19.60, expiry various) | 40,179 | — |
| 2026-09-07 | Dale Brendon Elphinstone
Details & evidence for Dale Brendon Elphinstone on 2026-09-07Position reported in the FY26 Annual Report and repeated in the FY26 results presentation as of 7 September 2026. It equals the 3Y's pre-sale value; the unresolved conflict with the 3Y post-sale position is recorded on the post-sale observation.
Director, Group 6 Metals Limited · Start not disclosed Elphinstone Holdings Pty Ltd (EHPL) · Controls Elphinstone Holdings Pty Ltd, the registered holder of the securities FY2026 Annual Report to Shareholders ↗ Change of Director's Interest Notice ↗ FY26 Annual Report - Investor Presentation ↗ | PositionOrdinary shares | 57,432,014 | 23.19%Issued Shares |
| 2026-09-07 | Kevin Pallas
Details & evidence for Kevin Pallas on 2026-09-07FY26 Annual Report KMP options table reports this position as held by Kevin Pallas at 7 September 2026.
Management background report ↗ FY2026 Annual Report to Shareholders ↗ | PositionUnquoted options, $0.52 exercise price, expiry 30 April 2027 | 380,000 | — |
| 2026-09-07 | Kevin Pallas
Details & evidence for Kevin Pallas on 2026-09-07FY26 Annual Report KMP options table reports this position as held by Kevin Pallas at 7 September 2026.
Management background report ↗ FY2026 Annual Report to Shareholders ↗ | PositionUnquoted options, $1.04 exercise price, expiry 30 April 2028 | 380,000 | — |
| 2026-08-18 | Dale Brendon Elphinstone
Details & evidence for Dale Brendon Elphinstone on 2026-08-18Position disclosed by the director's 3Y following the reported sale. The 28 July issuer top-20 list confirms the 3Y's pre-sale balance; the later annual-report and presentation figures repeat that pre-sale amount, so this is not represented as a reconciled live balance.
Director, Group 6 Metals Limited · Start not disclosed Elphinstone Holdings Pty Ltd (EHPL) · Controls Elphinstone Holdings Pty Ltd, the registered holder of the securities Change of Director's Interest Notice ↗ Statement of Confirmations ↗ FY2026 Annual Report to Shareholders ↗ FY26 Annual Report - Investor Presentation ↗ | PositionOrdinary shares | 57,415,780 | — |
| 2026-08-18 | Dale Brendon Elphinstone
Details & evidence for Dale Brendon Elphinstone on 2026-08-18The 3Y reports these warrants unchanged by the share sale.
Director, Group 6 Metals Limited · Start not disclosed Elphinstone Holdings Pty Ltd (EHPL) · Controls Elphinstone Holdings Pty Ltd, the registered holder of the securities Change of Director's Interest Notice ↗ | PositionWarrants (exercise price $19.60, expiry various) | 44,643 | — |
| 2026-07-28 | Dale Brendon Elphinstone
Details & evidence for Dale Brendon Elphinstone on 2026-07-28The issuer's 28 July top-20 list reports this registered account position. It matches the before-balance in the director's 21 August 3Y; it does not evidence the later sale.
Director, Group 6 Metals Limited · Start not disclosed Elphinstone Holdings Pty Ltd (EHPL) · Controls Elphinstone Holdings Pty Ltd, the registered holder of the securities Statement of Confirmations ↗ | PositionOrdinary shares | 57,432,014 | 23.19%Issued Shares |
| 2026-07-10 | Kevin Pallas
Details & evidence for Kevin Pallas on 2026-07-10Position after the 10 July 2026 grant, as reported in the 3Y.
Management background report ↗ Change of Director's Interest Notice ↗ | FinalPerformance rights (expiry 10 July 2029) | 1,000,000 | — |
| 2025-04-30 | Christopher Ellis
Details & evidence for Christopher Ellis on 2025-04-30Aggregate post-recap share position via Chrysalis and CJRE Maritime.
Director, Group 6 Metals Limited · Start not disclosed Chrysalis Investments Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity CJRE Maritime Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity Change of Director's Interest Notice x3 ↗ Change in substantial holding - Ellis ↗ Notice of General Meeting/Proxy Form ↗ | PositionOrdinary shares (aggregate indirect interests) | 5,696,169,231 | 25.99%Voting Power |
| 2025-04-30 | Christopher Ellis
Details & evidence for Christopher Ellis on 2025-04-30Held through Chrysalis Investments Pty Ltd.
Director, Group 6 Metals Limited · Start not disclosed Chrysalis Investments Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity CJRE Maritime Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity Change of Director's Interest Notice x3 ↗ | PositionWarrants, exercise A$0.0035, expiry 31 October 2025 | 910,714,286 | — |
| 2025-04-30 | Dale Brendon Elphinstone
Details & evidence for Dale Brendon Elphinstone on 2025-04-30The pre-consolidation post-recap balance reported in the 3Y.
Director, Group 6 Metals Limited · Start not disclosed Elphinstone Holdings Pty Ltd (EHPL) · Controls Elphinstone Holdings Pty Ltd, the registered holder of the securities Change of Director's Interest Notice x3 ↗ Change in substantial holding - Elphinstone ↗ | PositionOrdinary shares | 3,534,987,070 | 16.10%Voting Power |
| 2025-04-30 | Dale Brendon Elphinstone
Details & evidence for Dale Brendon Elphinstone on 2025-04-30Held through EHPL.
Director, Group 6 Metals Limited · Start not disclosed Elphinstone Holdings Pty Ltd (EHPL) · Controls Elphinstone Holdings Pty Ltd, the registered holder of the securities Change of Director's Interest Notice x3 ↗ | PositionWarrants, exercise A$0.0035, expiry 31 October 2025 | 2,035,714,286 | — |
| 2025-04-30 | Kevin Pallas
Details & evidence for Kevin Pallas on 2025-04-30Grant follows the 23 April 2025 shareholder approval.
Management background report ↗ Change of Director's Interest Notice x3 ↗ Results of Meeting ↗ | PositionUnquoted options: 38,000,000 at A$0.0052 expiring 30 April 2027 and 38,000,000 at A$0.0104 expiring 30 April 2028 | 76,000,000 | — |
| 2024-12-04 | Dale Brendon Elphinstone
Details & evidence for Dale Brendon Elphinstone on 2024-12-04The 3X's reported expiry is inconsistent with the later 3Y; the later 3Y confirms 30 June 2025.
Director, Group 6 Metals Limited · Start not disclosed Elphinstone Holdings Pty Ltd (EHPL) · Controls Elphinstone Holdings Pty Ltd, the registered holder of the securities Initial Director's Interest Notice - Dale Elphinstone ↗ Change of Director's Interest Notice (x2) - Late Lodgement ↗ | InitialOptions, exercise A$0.21, expiry 30 June 2025 | 23,809,527 | — |
| 2024-12-04 | Dale Brendon Elphinstone
Details & evidence for Dale Brendon Elphinstone on 2024-12-04Indirectly held through EHPL.
Director, Group 6 Metals Limited · Start not disclosed Elphinstone Holdings Pty Ltd (EHPL) · Controls Elphinstone Holdings Pty Ltd, the registered holder of the securities Initial Director's Interest Notice - Dale Elphinstone ↗ | InitialOptions, exercise A$0.28, expiry 31 January 2025 | 2,941,176 | — |
| 2024-12-04 | Dale Brendon Elphinstone
Details & evidence for Dale Brendon Elphinstone on 2024-12-04Indirectly held through EHPL.
Director, Group 6 Metals Limited · Start not disclosed Elphinstone Holdings Pty Ltd (EHPL) · Controls Elphinstone Holdings Pty Ltd, the registered holder of the securities Initial Director's Interest Notice - Dale Elphinstone ↗ | InitialOrdinary shares | 61,880,406 | — |
| 2024-12-04 | Dale Brendon Elphinstone
Details & evidence for Dale Brendon Elphinstone on 2024-12-04Indirectly held through EHPL.
Director, Group 6 Metals Limited · Start not disclosed Elphinstone Holdings Pty Ltd (EHPL) · Controls Elphinstone Holdings Pty Ltd, the registered holder of the securities Initial Director's Interest Notice - Dale Elphinstone ↗ | InitialWarrants, exercise A$0.196, various expiry dates | 26,785,714 | — |
| 2024-12-04 | G Hancock
Details & evidence for G Hancock on 2024-12-04Final position on director cessation.
Director, Group 6 Metals Limited · Start not disclosed Final Director's Interest Notice - G Hancock ↗ | FinalPerformance options: 3,000,000 expiring 30 September 2026 and 4,000,000 expiring five years after vesting | 7,000,000 | — |
| 2024-12-04 | Johann Jacobs
Details & evidence for Johann Jacobs on 2024-12-04Held through FinMin Solutions Pty Ltd.
Director, Group 6 Metals Limited · Start not disclosed FinMin Solutions Pty Ltd · Related entity through which G6M securities are held Final Director's Interest Notice - J Jacobs ↗ | FinalOptions, exercise A$0.28, expiry 31 January 2025 | 147,059 | — |
| 2024-12-04 | Johann Jacobs
Details & evidence for Johann Jacobs on 2024-12-04Held through FinMin Solutions Pty Ltd.
Director, Group 6 Metals Limited · Start not disclosed FinMin Solutions Pty Ltd · Related entity through which G6M securities are held Final Director's Interest Notice - J Jacobs ↗ | FinalOptions, exercise A$0.21, expiry 30 June 2025 | 166,667 | — |
| 2024-12-04 | Johann Jacobs
Details & evidence for Johann Jacobs on 2024-12-04Held through FinMin Solutions Pty Ltd.
Director, Group 6 Metals Limited · Start not disclosed FinMin Solutions Pty Ltd · Related entity through which G6M securities are held Final Director's Interest Notice - J Jacobs ↗ | FinalPerformance options (3,000,000 and 4,000,000; terms per earlier notices) | 7,000,000 | — |
| 2024-12-04 | Johann Jacobs
Details & evidence for Johann Jacobs on 2024-12-04Held through FinMin Solutions Pty Ltd.
Director, Group 6 Metals Limited · Start not disclosed FinMin Solutions Pty Ltd · Related entity through which G6M securities are held Final Director's Interest Notice - J Jacobs ↗ | FinalOrdinary shares | 8,741,973 | — |
| 2024-12-04 | Keith McKnight
Details & evidence for Keith McKnight on 2024-12-04Allocation between related entities is not reported.
Director, Group 6 Metals Limited · Start not disclosed Ballinacourty Holdings Pty Ltd · Related entity through which G6M securities are held Cragmore Superannuation Pty Ltd · Related entity through which G6M securities are held Final Director's Interest Notice - K McKnight ↗ | FinalOptions, exercise A$0.21, expiry 30 June 2025 | 142,857 | — |
| 2024-12-04 | Keith McKnight
Details & evidence for Keith McKnight on 2024-12-04Allocation between related entities is not reported.
Director, Group 6 Metals Limited · Start not disclosed Ballinacourty Holdings Pty Ltd · Related entity through which G6M securities are held Cragmore Superannuation Pty Ltd · Related entity through which G6M securities are held Final Director's Interest Notice - K McKnight ↗ | FinalOptions, exercise A$0.28, expiry 31 January 2025 | 88,235 | — |
| 2024-12-04 | Keith McKnight
Details & evidence for Keith McKnight on 2024-12-04Indirect interests through Ballinacourty Holdings and Cragmore; allocation not reported.
Director, Group 6 Metals Limited · Start not disclosed Ballinacourty Holdings Pty Ltd · Related entity through which G6M securities are held Cragmore Superannuation Pty Ltd · Related entity through which G6M securities are held Final Director's Interest Notice - K McKnight ↗ | FinalOrdinary shares | 390,757 | — |
| 2024-10-15 | G Hancock
Details & evidence for G Hancock on 2024-10-15The notice reports the 7,000,000 performance options unchanged.
Director, Group 6 Metals Limited · Start not disclosed Change of Director's Interest Notice - G Hancock ↗ | PositionUnquoted performance options (7,000,000 total; 3,000,000 expire 30 September 2026, 4,000,000 five years after vesting) | 7,000,000 | — |
| 2023-06-27 | Christopher Ellis
Details & evidence for Christopher Ellis on 2023-06-27Reported post-placement through Chrysalis.
Director, Group 6 Metals Limited · Start not disclosed Chrysalis Investments Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity CJRE Maritime Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity Change of Director's Interest Notice - Christopher Ellis ↗ | PositionOrdinary shares | 140,298,596 | — |
| 2023-06-27 | Johann Jacobs
Details & evidence for Johann Jacobs on 2023-06-27Reported post-change.
Director, Group 6 Metals Limited · Start not disclosed FinMin Solutions Pty Ltd · Related entity through which G6M securities are held Change of Director's Interest Notice - Johann Jacobs ↗ | PositionOrdinary shares | 8,741,973 | — |
| 2023-06-27 | Keith McKnight
Details & evidence for Keith McKnight on 2023-06-27Position after reported 214,286-share table quantity; the notice does not allocate shares between Ballinacourty and Cragmore.
Director, Group 6 Metals Limited · Start not disclosed Ballinacourty Holdings Pty Ltd · Related entity through which G6M securities are held Cragmore Superannuation Pty Ltd · Related entity through which G6M securities are held Change of Director's Interest Notice - Keith McKnight ↗ | PositionOrdinary shares | 390,757 | — |
| 2023-01-23 | Christopher Ellis
Details & evidence for Christopher Ellis on 2023-01-23Reported post-change option holding.
Director, Group 6 Metals Limited · Start not disclosed Chrysalis Investments Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity CJRE Maritime Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity Change of Director's Interest Notice - Christopher Ellis ↗ | PositionUnquoted options, exercise A$0.28, expiry 31 January 2025 | 7,352,942 | — |
| 2023-01-23 | Christopher Ellis
Details & evidence for Christopher Ellis on 2023-01-23Reported after change; the holder notice identifies 104,363,803 shares in the Family Trust and 220,503 in the Ellis Superfund.
Director, Group 6 Metals Limited · Start not disclosed Chrysalis Investments Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity CJRE Maritime Pty Ltd · Sole director and beneficiary; G6M securities are held through this entity Change of Director's Interest Notice - Christopher Ellis ↗ | PositionOrdinary shares | 104,584,306 | — |
| 2023-01-23 | Johann Jacobs
Details & evidence for Johann Jacobs on 2023-01-23Reported after change.
Director, Group 6 Metals Limited · Start not disclosed FinMin Solutions Pty Ltd · Related entity through which G6M securities are held Change of Director's Interest Notice - Johann Jacobs ↗ | PositionOrdinary shares | 8,491,973 | — |
| 2023-01-23 | Keith McKnight
Details & evidence for Keith McKnight on 2023-01-23Reported after change.
Director, Group 6 Metals Limited · Start not disclosed Ballinacourty Holdings Pty Ltd · Related entity through which G6M securities are held Cragmore Superannuation Pty Ltd · Related entity through which G6M securities are held Change of Director's Interest Notice - Keith McKnight ↗ | PositionOrdinary shares | 176,471 | — |
The closest covered peers
Peer comparison
Peer comparison pending
No peer comparison has been saved for this company.
An on-demand analysis selects up to five closest peers and checks what their differences mean for independent fair value.
Narrative and provenance
Research & Sources
AI Analyst Report
The full analyst report, its figures and the broker-style PDF are available to subscribers and invited guests.
Sign in or enter a guest codeChronological 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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
Evidence facts35
128966000 AUD
2026-06-30148185000 AUD
2026-06-3074638000 AUD
2026-06-3055656000 AUD
2026-06-3049327000 AUD
2026-06-3021190000 AUD
2026-06-30107101000 AUD
2026-06-30247536349 shares
2026-06-3010.55 Mt at 0.89% WO3, 9.43 million MTU text
2026-06-308.79 Mt at 0.89% WO3, 7.82 million MTU text
2026-06-304.07 Mt at 0.92% WO3, 3.73 million MTU text
2026-06-30561000000 AUD
2026-06-30US$1,000-1,800/mtu text
2026-06-3013712 MTU
2026-09-3012,782 MTU for A$35.5m text
2026-09-3054113000 AUD
2026-09-3023396000 AUD
2026-09-302500000 AUD
2026-09-3014669000 AUD
2026-09-3049464000 AUD
2026-06-3025,514 MTU for A$69.1m text
2026-06-3024,555 MTU for A$32.2m text
2026-03-3127,007 MTU for A$17.55m text
2025-12-31A$73.2m-62.8m text
2025-03-31about 1.9 million MTU, March 2025 to February 2033 text
2025-03-313,000 t WO3 per annum text
2025-01-146.71 %
2025-03-31247652282 shares
2026-07-281480000 rights
2026-09-292.52 AUD/share
2026-10-3017938 shares
2026-10-301.4236 AUD/USD
2026-10-3023966 AUD
2026-10-303000 USD/mtu
2026-09-18RMB 480,000-510,000/t text
2026-10-12Conflicts 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.