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

Gateway Mining Limited

Resource Stage · Gold · Australia Rating locked: sign in to view v6.2
Last 2026-11-06
A$0.054
1D
—
1M
—
YTD
—
1Y
—
Upside
Locked: sign in to view
Mkt cap
A$155.9M
EV
A$97.4M
Cash
A$10.4M
Debt
A$0
6 newer ASX announcements not yet reflected in this valuation

Funding, performance and ownership

Financials & Capital

As of 2026-06-30
Cash A$10.4M Finite
Debt A$0 Net cash A$10.4M
Basic shares 2.9B 2026-09-16
Runway 2.05 quarters Appendix 5B item 8.7 divides A$10.373 million cash by A$5.049 million of quarterly relevant outgoings.

Liquidity

Financial position

Last reported cash was A$10.373m at 30 June. The issuer reported A$15.1m aggregate cash plus liquid securities; a later release itemized A$10.37m plus A$4.37m, a A$0.36m discrepancy. The securities portfolio was sold for A$8.23m gross proceeds before the A$45m gross September placement. No post-placement cash balance or costs were reported. June cash-only runway of 2.05 quarters predates both transactions.

Capital structure

Ownership and dilution

Ordinary shares
2.9B
Fully diluted
3B

2,322,814,859 ordinary shares at May 2026 plus 882,000 options exercised by 11 September and 562,500,000 placement shares issued on 16 September equals 2,886,196,859. Remaining 70,676,083 GMLO and 20,000,000 other options plus 72,300,000 rights give 3,049,172,942 fully diluted equivalents; exercise proceeds are excluded from valuation.

Security classes6
ClassTypeQuantityStrikeExpiry
ASX GML ordinary fully paid sharesOrdinary Share2.9B——
Quoted options exercisable at A$0.033Option70.7MA$0.0332026-12-15
Unquoted options exercisable at A$0.10Option20MA$0.12028-10-02
Class 1 performance rights linked to a A$0.125 ten-day VWAP hurdlePerformance Right24.1M—2028-12-31
Class 2 performance rights linked to a A$0.175 ten-day VWAP hurdlePerformance Right24.1M—2029-12-31
Class 3 performance rights linked to a A$0.25 ten-day VWAP hurdlePerformance Right24.1M—2030-11-27

KPI history

Operating metrics · Yandal Gold Project

Other shown
014,84029,68044,52059,360March 2026: 53,000 drilling metresMarch 2026June 2026: 52,000 drilling metresJune 2026
MetricUnitTrendMarch 2026June 2026
Otherdrilling metresMarch 2026: 53,000 drilling metresJune 2026: 52,000 drilling metres53,00052,000
Operating metric source table3
MetricProjectPeriodPeriod typeValueStatus
OtherYandalMarch 2026 quarterQuarter53,000 drilling metresReported
OtherYandalJune 2026 quarterQuarter52,000 drilling metresReported
OtherCompanyJune 2026 quarterQuarter4,332,000 AUD exploration expenditureReported
Company guidance4
MetricProjectPeriodLowHighStatus
Follow Up Rc Drilling At Cowza And Other Priority DiscoveriesyandalAfter 30 June 2026—— programme statusCurrent
Project Wide Soil Sampling And Mappingglenburgh-southSeptember 2026 quarter—— programme statusCurrent
First Pass Aircore Drilling At PewyyandalEarly October 2026—— programme statusCurrent
Next Stage Rc And Diamond Drilling ProgrammeyandalAfter September 2026 placement; no completion date stated—120,000 mCurrent

Capital history

Capital events

2 events · newest first
DateEventAmountSharesPriceStatusTerms
2026-09-16Ann. 2026-09-09RaisingGml Ordinary Fully PaidA$45M562.5MA$0.08CompletedA$45m gross placement for Yandal exploration, resource work and working capital.Max 562.5M · Period 2026-09-09 to 2026-09-16 · JP Equity Partners
2025-10-02Ann. 2025-09-24RaisingA$22.5M409.1M—Completed—

Contracts and ownership

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

Complete As Disclosed · as of 2026-09-26

Latest annual-report and June-quarter tenement footnotes reconciled with original Yandal and Glenburgh agreements; no live commodity or FX hedge disclosed.

One percent gross revenue royalty on specified Yandal tenure, embedded in the Yandal value calibration.

Royalty · Active
Counterparties
MW Royalty Co Pty Ltd
Applies to
Yandal Gold Project · Gold
Economic direction
Burden
Period
Dates not stated
Key terms
Gross revenue royalty: 1 percent
How it affects our valuation

No valuation treatment is available for this arrangement.

One percent gross revenue royalty across specified Yandal tenements.

Royalty · Active
Counterparties
L11 Capital Pty Ltd
Applies to
Yandal Gold Project · Gold
Economic direction
Burden
Period
Dates not stated
Key terms
Gross revenue royalty: 1 percent
How it affects our valuation

No valuation treatment is available for this arrangement.

Two percent NSR on E69/2492, treated only through the Yandal calibration.

Royalty · Active
Counterparties
Wayne Jones
Applies to
Yandal Gold Project · Gold
Economic direction
Burden
Period
Dates not stated
Key terms
Net smelter return royalty: 2 percent
How it affects our valuation

No valuation treatment is available for this arrangement.

Half-percent NSR over specified 75%-held Yandal tenure.

Royalty · Active
Counterparties
Renegade Exploration Limited
Applies to
Yandal Gold Project · Gold
Economic direction
Burden
Period
Dates not stated
Key terms
Net smelter return royalty: 0.5 percent
How it affects our valuation

No valuation treatment is available for this arrangement.

Zebina has a 25% free-carried interest in specified Yandal tenure; Gateway’s project value reflects partial ownership.

Free Carry · Active
Counterparties
Zebina Minerals Pty Ltd
Applies to
Yandal Gold Project · Gold
Economic direction
Burden
Period
Dates not stated
Key terms
Free-carried interest: 25 percent
How it affects our valuation

No valuation treatment is available for this arrangement.

Gibb River retains 20% free carried to BFS on E69/2820.

Free Carry · Active
Counterparties
Gibb River Diamonds Limited
Applies to
Yandal Gold Project · Gold
Economic direction
Burden
Period
Dates not stated
Key terms
Free-carried interest: 20 percent
How it affects our valuation

No valuation treatment is available for this arrangement.

Gateway has 80% and funds the vendors’ 20% share through DFS; a A$1.4m exploration commitment also applies.

Free Carry · Active
Counterparties
Glenburgh South vendors
Applies to
Glenburgh South Gold Project · Gold
Economic direction
Burden
Period
Dates not stated
Key terms
Vendor interest: 20 percent
Exploration spend commitment: 1,400,000 AUD
How it affects our valuation

No valuation treatment is available for this arrangement.

Gateway has 20% free carried to a decision to mine; no value assigned absent current drilling or study.

Free Carry · Active
Counterparties
Latitude 66 Limited
Applies to
Edjudina Joint Venture · Gold
Economic direction
Benefit
Period
Dates not stated
Key terms
Gateway free-carried interest: 20 percent
How it affects our valuation

No valuation treatment is available for this arrangement.

Brightstar owns gold rights to specified Montague tenure; Gateway retains only non-gold rights there.

Farm Out · Active
Counterparties
Brightstar Resources Limited
Applies to
Montague Range Project
Economic direction
Burden
Period
Dates not stated
Key terms
Brightstar gold rights: 100 percent
How it affects our valuation

No valuation treatment is available for this arrangement.

Gateway currently holds 51% in two regional tenements and may earn to 80%; no project value assigned.

Earn In · Active
Counterparties
Golden Mile Resources Limited
Applies to
Barrelmaker Gold Project · Gold
Economic direction
Mixed
Period
Dates not stated
Key terms
Gateway current interest: 51 percent
Gateway earn-in cap: 80 percent
How it affects our valuation

No valuation treatment is available for this arrangement.

An 80% Iroquois exploration interest was acquired with Yandal; no current valuation case is supportable.

Joint Venture · Active
Counterparties
Iroquois joint venture partner
Applies to
Iroquois Project · Zinc · Lead
Economic direction
Mixed
Period
Dates not stated
Key terms
Acquired JV interest: 80 percent
How it affects our valuation

No valuation treatment is available for this arrangement.