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 GRX ASX

GreenX Metals Limited

Discovery Drill Stage · Copper · Silver · Germany · Greenland Rating locked: sign in to view v6.2
Last 2026-11-06
A$0.86
1D
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1M
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YTD
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1Y
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Upside
Locked: sign in to view
Mkt cap
A$268.5M
EV
A$271.4M
Cash
A$13.4M
Debt
A$16.2M
3 newer ASX announcements not yet reflected in this valuation

Funding, performance and ownership

Financials & Capital

As of 2026-06-30
Cash A$13.4M Finite
Debt A$16.2M Net cash A$-2.9M
Basic shares 312.3M 2026-08-07
Runway 7 quarters Issuer Appendix 5B calculation based on A$14.920 million total available funding and A$2.019 million June-quarter relevant outgoings.

Liquidity

Financial position

At 30 June 2026, A$13.382 million cash and A$1.538 million undrawn litigation facility imply seven reported quarters at June-quarter outgoings. The A$16.239 million litigation draw is repayable out of an award and grows at a 30% contractual rate; it is treated within contingent award value, not as a second deduction from the bridge.

Capital structure

Ownership and dilution

Ordinary shares
312.3M
Fully diluted
350.2M

Latest Appendix 2A: 312,256,505 ordinary shares plus 26,925,000 options and 11,000,000 performance rights equals 350,181,505 maximum current instrument shares. The 11 million rights conflict with the December 2025 accounting lapse note; the August ASX capital table controls conservative dilution. A further 5 million Tannenberg scoping-study vendor shares are conditional and are excluded from the current instrument total but tested in the bull scenario.

Security classes7
ClassTypeQuantityStrikeExpiry
ASX ordinary fully paid sharesOrdinary Share312.3M——
GRXAAB options expiring 30 November 2026Option1.5MA$0.552026-11-30
GRXAAD options expiring 30 November 2026Option2.5MA$0.552026-11-30
GRXAA options expiring 31 May 2029Option7.6MA$1.052029-05-31
GRXAB options expiring 31 May 2030Option7.6MA$1.22030-05-31
GRXAC options expiring 31 May 2031Option7.7MA$1.52031-05-31
Performance share rights shown in latest ASX capital table; inconsistent with the December 2025 accounting lapse notePerformance Right11M——

KPI history

Operating metrics

1 periods
Operating metric source table2
MetricProjectPeriodPeriod typeValueStatus
OtherCompanyQuarter ended 30 June 2026Quarter685,000 AUD exploration and evaluation paymentsReported
Free Cash FlowCompanyQuarter ended 30 June 2026Quarter-2,019,000 AUD net operating cash flowReported
Company guidance2
MetricProjectPeriodLowHighStatus
Initial Drill Program Commencementtannenbergafter June 2026 exploration-target transition—— programCurrent
Confirm Drill Ready Targetseleonore-north2026 field season—— targetsCurrent

Capital history

Capital events

1 events · newest first
DateEventAmountSharesPriceStatusTerms
2026-03-13Ann. 2026-01-30RaisingA$13.6M——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 2026-08-07

Annual-report contractual baseline reconciled to the half-year arbitration note, completed Tannenberg acquisition, June 2026 quarterly and August capital forms; no commodity or FX hedge was disclosed.

GreenX owns 90% of Group 11; the vendor retains a 10% free-carried interest until feasibility and may exchange it for a 0.5% net smelter royalty.

Joint Venture · Active
Counterparties
Group 11 Exploration GmbH vendors
Applies to
Tannenberg Copper Project · Copper · Silver
Economic direction
Mixed
Period
From 2025-12-12; no end date stated
Key terms
GreenX current ownership: 90 percent
Vendor residual interest: 10 percent
Vendor election: 0.5 percent NSR
How it affects our valuation

No valuation treatment is available for this arrangement.

A first qualifying scoping study by 1 August 2029 triggers five million ordinary vendor shares; no share issuance has yet occurred.

Other · Conditional
Counterparties
Group 11 Exploration GmbH vendors
Applies to
Tannenberg Copper Project · Copper · Silver
Economic direction
Burden
Period
2024-08-01 to 2029-08-01
Key terms
Vendor shares on first scoping study: 5,000,000 ordinary shares
How it affects our valuation

No valuation treatment is available for this arrangement.

Revised Eleonore North acquisition terms led to 1,141,409 shares for project retention and a further 283,954 shares for an additional licence; both are already in the August ordinary count.

Other · Active
Counterparties
Greenfields Exploration Limited
Applies to
Eleonore North Project · Gold · Tungsten · Others
Economic direction
Burden
Period
From 2024-07-15; no end date stated
Key terms
Retention consideration settled: 1,000,000 AUD in shares
Additional licence consideration settled: 250,000 AUD in shares
How it affects our valuation

No valuation treatment is available for this arrangement.

LCM funded the Poland arbitration; on recovery it receives return of drawn funding, a five-times principal multiple and 30% annual interest compounding monthly from January 2025.

Other · Active
Counterparties
LCM Funding UK Limited
Applies to
Company-wide
Economic direction
Burden
Period
From 2020-06-30; no end date stated
Key terms
Drawn litigation funding at 2026-06-30: 16,239,000 AUD
Return multiple on USD principal: 5 times
Accruing interest: 30 percent per annum compounding monthly
How it affects our valuation

No valuation treatment is available for this arrangement.

Eligible personnel receive six percent of award proceeds after LCM payments if compensation is collected.

Other · Active
Counterparties
Eligible key management personnel
Applies to
Company-wide
Economic direction
Burden
Period
From 2021-01-20; no end date stated
Key terms
Post-LCM award share: 6 percent
How it affects our valuation

No valuation treatment is available for this arrangement.

The Arctic Rift joint venture remains in wind-up after licence withdrawal; the issuer expected completion in the second half of 2026 and no live project value is assigned.

Joint Venture · Active
Counterparties
Greenfields Pty Ltd
Applies to
Arctic Rift Copper Project · Copper
Economic direction
Mixed
Period
Dates not stated
Key terms
Former GreenX JV ownership: 51 percent
How it affects our valuation

No valuation treatment is available for this arrangement.

BHP Xplor provided a one-off grant and in-kind support for 2025 exploration; no recurring grant or future funding right was disclosed.

Strategic Partnership · Expired
Counterparties
BHP
Applies to
Tannenberg Copper Project · Copper · Silver
Economic direction
Benefit
Period
Through 2025-12-31; start date not stated
Key terms
One-off non-dilutive grant: 500,000 USD
Reported grant receipts: 790,071 AUD
How it affects our valuation

No valuation treatment is available for this arrangement.