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 KAU ASX

Kaiser Reef Limited

Producer · Gold · Australia Rating locked: sign in to view v6.2
Last 2026-11-06
A$0.15
1D
—
1M
—
YTD
—
1Y
—
Upside
Locked: sign in to view
Mkt cap
A$90.8M
EV
A$67.2M
Cash
A$37M
Debt
A$13.6M
4 newer ASX announcements not yet reflected in this valuation

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 code
Chronological evidenceSource-document inventory19 documents
KAU ASX ordinary-share closing priceMarket Data · HighExtracted

Latest eligible local KAU ordinary-share close at A$0.21, volume 1,207,834.

Document ID
market-price-20260925
Published UTC
2026-09-25T06:00:00Z
Projects
—
Commodities
—
Open original source ↗
Henty 2026 Resource & Reserve UpdateReserve Update · HighExtracted

Updated Henty resource 429koz inclusive of reserves and Probable reserve 198koz, with about six years of reserve life.

Document ID
henty-resource-20260907
Published UTC
2026-09-06T22:28:00Z
Projects
henty
Commodities
gold
Open original source ↗
Underground Diamond Drilling Underway at MaldonOperations · HighExtracted

Underground drilling began from the new Union Hill access, initially targeting Linscott and Eaglehawk; day shift controls spending.

Document ID
maldon-drilling-20260831
Published UTC
2026-08-30T23:24:00Z
Projects
maldon
Commodities
gold
Open original source ↗
A1 Stockpile Estimate CompletedResource Update · HighExtracted

A1 tailings 77,427t at 1.25g/t for 3,124oz, Inferred Resource; reclamation plan remains in progress.

Document ID
a1-tailings-20260817
Published UTC
2026-08-16T23:04:00Z
Projects
a1 · maldon
Commodities
gold
Open original source ↗
Underground Development Commenced at Union Hill Gold MineOperations · HighExtracted

First new Union Hill development cut taken; northern drill drive will test Eaglehawk, Linscott, Ladies and Sailor reef targets.

Document ID
union-hill-development-20260810
Published UTC
2026-08-09T23:44:00Z
Projects
maldon
Commodities
gold
Open original source ↗
FG1: Ore Purchase Agreement with Henty Gold MineEconomic Arrangement · HighExtracted

Nonbinding framework for Henty Gold to purchase Flynn Gold Tasmanian ore or concentrate; volumes and commercial terms undisclosed.

Document ID
flynn-ore-20260806
Published UTC
2026-08-05T23:19:00Z
Projects
henty
Commodities
gold
Open original source ↗
Quarterly Activities/Appendix 5B Cash Flow ReportOperations · HighExtracted

June-quarter and FY2026 operating results, FY2027 guidance, cash, debt, resources, reserves, permits and tenements.

Document ID
quarterly-20260630
Published UTC
2026-07-30T23:32:34Z
Projects
henty · maldon · a1 · nsw-divestment
Commodities
gold
Open original source ↗
Company PresentationPresentation · HighExtracted

Current corporate presentation with FY2026 production, FY2027 targets, balance sheet, capital structure and project positioning.

Document ID
presentation-20260727
Published UTC
2026-07-26T22:33:04Z
Projects
henty · maldon · a1
Commodities
gold
Open original source ↗
Quarterly Activities/Appendix 5B Cash Flow ReportOperations · HighExtracted

March-quarter production, lower Henty grade, rising cash, spot-gold exposure and Maldon stockpile update.

Document ID
quarterly-20260331
Published UTC
2026-04-29T01:06:17Z
Projects
henty · maldon
Commodities
gold
Open original source ↗
Application for quotation of securities - KAUFinancing · HighExtracted

Quotation of shares issued on exercise of $0.182 options and post-quotation issued-capital schedule.

Document ID
quotation-20260316
Published UTC
2026-03-16T06:02:32Z
Projects
—
Commodities
—
Open original source ↗
Half Year AccountsResults · HighExtracted

Reviewed half-year financial statements showing Henty integration, profitability and the December balance sheet.

Document ID
half-year-20251231
Published UTC
2026-03-13T03:06:09Z
Projects
henty · maldon · a1
Commodities
gold
Open original source ↗
Kaiser Fully Leveraged to Spot Gold PricesEconomic Arrangement · HighExtracted

Final 1,000oz Auramet call delivery at A$5,300/oz completed in February; all 6,000 calls settled and no remaining price caps.

Document ID
hedge-closeout-20260302
Published UTC
2026-03-01T21:59:00Z
Projects
henty
Commodities
gold
Open original source ↗
Quarterly Activities/Appendix 5B Cash Flow ReportOperations · HighExtracted

December-quarter production, updated Henty reserve/resource, cash generation and Maldon processing.

Document ID
quarterly-20251231
Published UTC
2026-01-29T22:47:44Z
Projects
henty · maldon · a1
Commodities
gold
Open original source ↗
Revised Appendix 5BResults · MediumExtracted

Amended Appendix 5B replacing the original filing after a typographical oversight.

Document ID
appendix5b-revised-20250930
Published UTC
2025-10-30T07:24:52Z
Projects
henty · maldon · a1
Commodities
gold
Open original source ↗
Quarterly Activities/Appendix 5B Cash Flow ReportOperations · HighExtracted

September-quarter operations, first full Henty quarter, A1 care-and-maintenance transition and original Appendix 5B.

Document ID
quarterly-20250930
Published UTC
2025-10-30T02:55:25Z
Projects
henty · maldon · a1
Commodities
gold
Open original source ↗
Board ChangesLeadership · HighExtracted

Jonathan Downes resigned and Brad Valiukas became managing director immediately.

Document ID
board-changes-20251007
Published UTC
2025-10-06T22:54:00Z
Projects
—
Commodities
—
Open original source ↗
Annual Report to shareholdersResults · HighExtracted

FY2025 audited financial statements, acquisition accounting, capital structure and asset status.

Document ID
annual-report-20250630
Published UTC
2025-09-30T07:41:15Z
Projects
henty · maldon · a1 · nsw-divestment
Commodities
gold
Open original source ↗
Kaiser Completes Acquisition of the Henty Gold MineTransaction · HighExtracted

Completion of the 100% Henty acquisition and confirmation of placement and Auramet funding.

Document ID
henty-completion-20250516
Published UTC
2025-05-16T02:37:28Z
Projects
henty
Commodities
gold
Open original source ↗
Transformational Acquisition of the Henty Gold MineTransaction · HighExtracted

Acquisition terms, Henty operating history, then-current resource and reserve, funding and deferred consideration.

Document ID
henty-acquisition-20250324
Published UTC
2025-03-23T23:04:11Z
Projects
henty
Commodities
gold
Open original source ↗
Evidence facts79
kau-close-20260925KAU ordinary-share closing price

0.21 AUD/share

2026-09-25
kau-close-20260904KAU ordinary-share closing price before reserve update

0.24 AUD/share

2026-09-04
kau-close-20260907KAU ordinary-share closing price on reserve-update trading day

0.23 AUD/share

2026-09-07
q4fy26-combined-productionCombined June-quarter gold production

6000 oz Au

2026-06-30
fy26-combined-productionFY2026 combined gold production

27766 oz Au

2026-06-30
fy26-revenueFY2026 revenue

164407459 AUD

2026-06-30
fy26-average-priceFY2026 average realised gold price

5896 AUD/oz Au

2026-06-30
fy26-aiscFY2026 combined AISC

4720 AUD/oz Au

2026-06-30
fy27-guidanceFY2027 combined production guidance

32000 oz Au

2027-06-30
jun26-cashClosing cash

37025000 AUD

2026-06-30
jun26-bullionBullion on hand

200000 AUD

2026-06-30
jun26-debt-drawnFinancing facilities drawn

13618000 AUD

2026-06-30
jun26-undrawnUnused financing facilities

2920000 AUD

2026-06-30
jun26-gold-loanOutstanding gold loan

416 oz Au

2026-06-30
jun26-henty-resourceHenty Mineral Resource

438000 oz Au

2025-10-23
jun26-henty-reserveHenty Ore Reserve

199000 oz Au

2025-10-23
jun26-maldon-resourceMaldon Mineral Resource

187000 oz Au

2022-07-21
presentation-sharesShares on issue

605000000 shares

2026-07-24
presentation-priceKAU closing share price

0.185 AUD/share

2026-07-24
presentation-market-capMarket capitalisation

112000000 AUD

2026-07-24
presentation-cash-bullionCash and bullion

37200000 AUD

2026-06-30
presentation-henty-fy26Henty FY2026 gold production

26000 oz Au

2026-06-30
presentation-henty-fy27-targetHenty FY2027 production target

30000 oz Au

2027-06-30
presentation-henty-fy28-targetHenty FY2028 production target

35000 oz Au

2028-06-30
q3fy26-henty-productionHenty gold production

5188 oz Au

2026-03-31
q3fy26-maldon-productionMaldon gold production

346 oz Au

2026-03-31
q3fy26-combined-aiscCombined AISC

5230 AUD/oz Au

2026-03-31
q3fy26-cashClosing cash

45552000 AUD

2026-03-31
union-hill-stockpileUnion Hill stockpile contained gold

8649 oz Au

2026-02-11
q3fy26-gold-loanOutstanding gold loan

728 oz Au

2026-03-31
mar26-option-exercise-sharesShares issued on option exercise

5934868 shares

2026-03-16
mar26-option-exercise-priceOption exercise price

0.182 AUD/share

2026-03-16
mar26-sharesOrdinary shares after quotation

605322399 shares

2026-03-16
mar26-optionsOptions outstanding after quotation

62230136 options

2026-03-16
mar26-rightsPerformance rights outstanding

10000000 rights

2026-03-16
hy26-profitStatutory profit after tax

9078187 AUD

2025-12-31
hy26-cash-totalCash and deposits held to maturity

43109911 AUD

2025-12-31
hy26-sharesOrdinary shares on issue

593887531 shares

2025-12-31
hy26-henty-productionHenty half-year gold production

15060 oz Au

2025-12-31
hy26-henty-realized-priceHenty average realised gold price

5136 AUD/oz Au

2025-12-31
q2fy26-henty-productionHenty gold production

6946 oz Au

2025-12-31
q2fy26-maldon-productionMaldon gold production

715 oz Au

2025-12-31
q2fy26-combined-aiscCombined AISC

4126 AUD/oz Au

2025-12-31
q2fy26-cashClosing cash

43100000 AUD

2025-12-31
henty-resource-totalHenty Mineral Resource

438000 oz Au

2025-10-23
henty-reserve-totalHenty Ore Reserve

199000 oz Au

2025-10-23
q1fy26-revised-operating-cashNet operating cash flow

14525000 AUD

2025-09-30
q1fy26-revised-cashClosing cash

29445000 AUD

2025-09-30
q1fy26-henty-productionHenty gold production

8115 oz Au

2025-09-30
q1fy26-combined-productionCombined gold production

8539 oz Au

2025-09-30
q1fy26-henty-aiscHenty AISC

3369 AUD/oz Au

2025-09-30
q1fy26-cashClosing cash

29445000 AUD

2025-09-30
a1-care-maintenanceA1 transitioned to care and maintenance

True None

2025-09-30
fy25-cashCash and cash equivalents

20756737 AUD

2025-06-30
fy25-term-depositCash deposits held to maturity

4000000 AUD

2025-06-30
fy25-total-liabilitiesTotal liabilities

51658187 AUD

2025-06-30
fy25-sharesOrdinary shares on issue

593546150 shares

2025-06-30
henty-acq-accounting-valueTotal Henty acquisition consideration

55042938 AUD

2025-05-15
henty-completion-dateHenty acquisition completion

True None

2025-05-15
henty-completion-ownershipHenty ownership acquired

100 %

2025-05-15
henty-placement-grossPlacement gross proceeds

30000000 AUD

2025-05-16
henty-acq-upfront-cashUpfront cash consideration

15000000 AUD

2025-03-24
henty-acq-shares-valueConsideration shares value

16600000 AUD

2025-03-24
henty-acq-deferred-goldDeferred gold consideration

3000 troy oz Au

2025-03-24
henty-acq-royaltyDarwin target NSR royalty

0.5 %

2025-03-24
henty-acq-auramet-fundingAuramet acquisition funding

10000000 AUD

2025-03-24
brad-md-appointmentBrad Valiukas appointed managing director

Brad Valiukas None

2025-10-07
auramet-calls-settledAll Auramet gold calls exercised and settled

6000 oz Au

2026-02-28
flynn-opa-nonbindingFlynn ore purchase framework nonbinding

True None

2026-08-06
union-hill-first-cutNorthern drill drive first cut completed

True None

2026-08-10
a1-tailings-tonnesA1 tailings Inferred Resource tonnage

77427 tonnes

2026-08-17
a1-tailings-goldA1 tailings contained gold

3124 oz Au

2026-08-17
a1-tailings-gradeA1 tailings gold grade

1.25 g/t Au

2026-08-17
union-hill-drillingUnderground diamond drilling commenced

True None

2026-08-31
henty-resource-2026Henty Mineral Resource

429000 oz Au

2026-06-30
henty-reserve-2026Henty Probable Ore Reserve

198000 oz Au

2026-06-30
henty-indicated-2026Henty Indicated Mineral Resource

366000 oz Au

2026-06-30
henty-triple-flag-royaltyTriple Flag NSR royalty

3 percent

2026-09-07
henty-franco-royaltyFranco-Nevada gold metal royalty

1 percent

2026-09-07