Price, volume & events
CloseVolumeFair-value rangeOverlay
Loading market history…
Drag to zoom · double-click to reset
- Last 2026-11-06
- A$0.84
- 1D
- —
- 1M
- —
- YTD
- —
- 1Y
- —
- Fair value
- Locked: sign in to view
- Upside
- Locked: sign in to view
- Mkt cap
- A$206.9M
- EV
- A$177.8M
- Cash
- A$29.2M
- Debt
- A$0
3 newer ASX announcements not yet reflected in this valuation
- Quarterly Activities/Appendix 5B Cash Flow ReportLatest Four Activities Reports
- Application for quotation of securities - MM1Post Cash Checkpoint Security Event
- Application for quotation of securities - MM1Post Cash Checkpoint Security Event
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 15All sources ▸- June 2026 Quarterly Activities and Appendix 5BOperations
- Application for quotation of securities - MM1Corporate Action
- Canaccord Global Metals and Mining Conference PresentationPresentation
- March 2026 Quarterly Activities and Appendix 5BResource Update
- Application for quotation of securities - MM1Financing
- Annual Report to shareholdersResults
- December 2025 Quarterly Activities and Appendix 5BOperations
- Midas completes acquisition of Otavi Copper Project, NamibiaTransaction
- September 2025 Quarterly Activities and Appendix 5BResults
- Final approval received for Otavi Project acquisitionTransaction
- Half Yearly Report and AccountsResults
- Otavi Project Acquisition UpdateTransaction
Event calendar · next 12 months
2 events| Timing | Event | Category | Confidence | Materiality | Investor relevance |
|---|---|---|---|---|---|
| Remaining second half of 2026 | Otavi T-13, Deblin and Spaatzu assay flow | Results | Company Guided | Medium | Assays test continuity behind resource growth and may move probabilities ahead of formal estimates. |
| Q1 2027 | Updated T-13 and initial Deblin and Spaatzu resources | Resource Or Reserve | Company Guided | High | Three resource estimates could validate or refute the multi-deposit valuation uplift and change confidence. |
Executive roster
As of 2026-09-21Background checks ▸Annual report and September half-year corporate directory identify the managing director and two joint company secretaries; no other named senior executive is disclosed.
| Executive | Title | Normalized role | Appointed | Sources |
|---|---|---|---|---|
| Mark Calderwood | Managing Director | Executive Director · Chief Executive | 2022-07-01 | Annual Report to shareholders · Half Yearly Report and Accounts · Managing Director incentive remuneration and proposed performance rights |
| Maddison Cramer | Company Secretary | Company Secretary | 2022-09-01 | Annual Report to shareholders · Half Yearly Report and Accounts |
| Ryan Sebbes | Joint Company Secretary | Company Secretary | 2025-04-14 | Annual Report to shareholders · Half Yearly Report and Accounts |
devCoverage status: Complete As Disclosed
Portfolio detail
Assets
Core asset
Otavi Copper-Silver-Gold Project
Namibia
Resource Stage100% ownedCopperSilverGoldLeadZincManganese
Midas owns 100% of ten granted EPLs. T-13 has an Inferred resource; resource-definition drilling and new assayed high-grade intercepts are reported at T-13, Deblin and Spaatzu. A mining-licence application may require up to 15% Namibian beneficial ownership.
Project location
Approximate location
Loading imagery…
© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.
Resources & reserves1
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | Inferred | 10.5 Mt | 1.62% Cu, 21.3 g/t Ag, 2.02% CuEq | Copper · Silver | 2026-04-16 |
Tenements10
Milestones3
- Complete Otavi acquisition
Achieved · High materiality
- Release updated T-13 resource estimate
Pending · High materiality
- Release initial Deblin and Spaatzu resource estimates
Pending · High materiality
Permits & approvals1
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| Future Otavi mining licence | Namibia | Required | — | Yes |
Material
South Otavi Project
Namibia
Early Explorer0% ownedCopperGoldSilver
Midas holds an option, but no current beneficial interest, to acquire up to 80% of EPL8374; regional gold and copper anomalies are under evaluation.
Project location
Approximate location
Loading imagery…
© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.
Tenements1
Milestones1
- Plan follow-up drilling on the 3.9 km anomaly
Pending · Medium materiality
Other
West Otavi Project
Namibia
Early Explorer0% ownedCopperGoldSilver
Option agreement provides a right to acquire up to 85%; current beneficial interest is zero.
Project location
Site imagery
Association needs review before imagery can be linked to this project.
Tenements1
Other
Otjiwarongo Project
Namibia
Early Explorer0% ownedCopperGoldSilver
Option agreements provide rights to acquire up to 85%; current beneficial interest is zero.
Tenements2
Other
Khorixas West Project
Namibia
Early Explorer0% ownedCopperGoldSilver
Midas has options to acquire up to 85%; one EPL is granted and one application is pending. Rock chips show copper-gold-silver mineralisation but no resource.
Tenements2
Milestones1
- Plan initial drilling after mapping and soils
Pending · Medium materiality
Other
Challa Gold-Nickel-Copper-PGE Project
Australia
Early Explorer100% ownedGoldNickelCopperPlatinum Group MetalsSilver
Four granted tenements are 100%-owned and an additional tenement is subject to an option; no substantive June-quarter work was reported.
Tenements1
Other
Aylmer Project
Canada
Early Explorer100% ownedLithium
A 100%-owned lithium exploration project with no substantive June-quarter activity.
Tenements1
Other
Greenbush Lithium Project
Canada
Early Explorer100% ownedLithium
A 100%-owned lithium exploration project with no substantive June-quarter activity.
Project location
Approximate location
Loading imagery…
© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.
Tenements1
Other
Newington Project
Australia
Divested0% ownedGoldLithium
Sold to Forrestania Resources with completion on 21 July 2026; Midas received A$1.5 million of FRS shares plus contingent milestone consideration.
Milestones1
- Complete Newington sale
Achieved · Medium materiality
Funding, performance and ownership
Financials & Capital
Liquidity
Financial position
Reviewed half-year cash is A$29.155m at 30 June, A$48,256 below Appendix 5B. The reported 8.65-quarter 5B runway is a historic burn-rate measure; seven rigs and potential expansion to nine may shorten it. The half-year directors forecast no required raise through September 2027.
Capital structure
Ownership and dilution
- Ordinary shares
- 246.3M
- Fully diluted
- 257.3M
The July quotation showed 245,252,427 ordinary shares. Subsequently, 850,000 rights converted in August, 75,000 in early September and 150,000 on 21 September, leaving 246,327,427 ordinary shares; 7,992,500 rights and 3,000,000 options imply 257,319,927 fully diluted equivalents. One million proposed MD rights require shareholder approval and are excluded.
Security classes6
| Class | Type | Quantity | Strike | Expiry |
|---|---|---|---|---|
| Quoted ordinary fully paid shares | Ordinary Share | 246.3M | — | — |
| Unquoted MM1AI performance rights | Performance Right | 7M | A$0 | — |
| Unquoted MM1AH performance rights | Performance Right | 1M | A$0 | — |
| Options expiring 15 July 2028 at A$0.25 | Option | 1M | A$0.25 | 2028-07-15 |
| Options expiring 15 July 2028 at A$0.30 | Option | 1M | A$0.3 | 2028-07-15 |
| Options expiring 15 July 2028 at A$0.40 | Option | 1M | A$0.4 | 2028-07-15 |
KPI history
Operating metrics
Operating metric source table3
| Metric | Project | Period | Period type | Value | Status |
|---|---|---|---|---|---|
| Other | Company | June 2026 quarter | Quarter | 3,127,000 AUD exploration and evaluation spend | Reported |
| Other | Otavi | 27 July 2026 point in time | Point In Time | 7 drill rigs | Reported |
| Other | Company | six months ended 30 June 2026 | Half Year | -3,445,352 AUD after-tax loss | Reported |
Company guidance2
| Metric | Project | Period | Low | High | Status |
|---|---|---|---|---|---|
| Updated T 13 Mineral Resource Estimate | otavi | Q1 2027 | — | — milestone | Current |
| Initial Deblin And Spaatzu Mineral Resource Estimates | otavi | Q1 2027 | — | — milestone | Current |
Capital history
Capital events
| Date | Event | Amount | Shares | Price | Status | Terms |
|---|---|---|---|---|---|---|
| 2026-09-21 | RaisingMm1 Ordinary Fully Paid | A$0 | 1.1M | A$0 | Completed | Three completed rights conversions after 10 July added 1,075,000 ordinary shares without cash proceeds.Period 2026-08-19 to 2026-09-21 |
| 2026-04-22Ann. 2026-04-16 | RaisingMm1 Ordinary Fully Paid | A$28M | 37.3M | A$0.75 | Completed | Single-tranche institutional placement to fund expanded Otavi drilling, initial feasibility work, placement costs and working capital.Max 37.3M · Period 2026-04-16 to 2026-04-22 · Canaccord Genuity and Euroz Hartleys |
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.
Annual report, acquisition terms and latest quarterly establish principal arrangements; detailed terms for regional options are not disclosed in the selected material.
Nexa receives a 1% Otavi NSR with a US$2m half buyback option; no payable-volume forecast exists.
Royalty · Active- Counterparties
- Nexa Resources S.A.
- Applies to
- Otavi Copper-Silver-Gold Project · Copper · Silver · Gold · Lead · Zinc · Manganese
- Economic direction
- Burden
- Period
- From 2025-12-22; no end date stated
- Key terms
- NSR royalty: 1 % of net smelter return
half-royalty buyback price: 2,000,000 USD
How it affects our valuation
No valuation treatment is available for this arrangement.
The vendor retains three contingent cash milestones totaling US$7m under the later audited disclosure.
Other · Active- Counterparties
- Nexa Resources S.A.
- Applies to
- Otavi Copper-Silver-Gold Project · Copper · Silver · Gold
- Economic direction
- Burden
- Period
- From 2025-12-22; no end date stated
- Key terms
- PFS milestone: 3,000,000 USD
decision-to-mine milestone: 2,000,000 USD
commercial production milestone: 2,000,000 USD
How it affects our valuation
No valuation treatment is available for this arrangement.
Midas holds an option rather than current beneficial ownership; staged cash and valuation-linked payments can earn up to 80%.
Earn In · Active- Counterparties
- Chorab Minerals (Pty) Ltd · Hans Hain Haraseb
- Applies to
- South Otavi Project · Copper · Gold · Silver
- Economic direction
- Mixed
- Period
- From 2025-05-19; no end date stated
- Key terms
- first option fee: 20,000 USD
extension fee: 40,000 USD
initial interest: 60 %
subsequent interest: 80 %
How it affects our valuation
No valuation treatment is available for this arrangement.
At only 60% ownership Midas must initially free-carry Chorab, with recoupment priority from later project proceeds.
Free Carry · Conditional- Counterparties
- Chorab Minerals (Pty) Ltd
- Applies to
- South Otavi Project · Copper · Gold · Silver
- Economic direction
- Burden
- Period
- Dates not stated
- Key terms
- vendor carried interest: 40 %
How it affects our valuation
No valuation treatment is available for this arrangement.
Option over EPL8634 gives a right to earn up to 85%; detailed cost terms were not accessible.
Earn In · Active- Counterparties
- Horn Metals (Pty) Ltd
- Applies to
- West Otavi Project · Copper · Gold · Silver
- Economic direction
- Mixed
- Period
- Dates not stated
- Key terms
- maximum interest: 85 %
How it affects our valuation
No valuation treatment is available for this arrangement.
Options over two EPLs give a right to earn up to 85%; detailed cost terms were not accessible.
Earn In · Active- Counterparties
- Gateway Resources Trading (Pty) Ltd
- Applies to
- Otjiwarongo Project · Copper · Gold · Silver
- Economic direction
- Mixed
- Period
- Dates not stated
- Key terms
- maximum interest: 85 %
How it affects our valuation
No valuation treatment is available for this arrangement.
Options over two EPLs give a right to earn up to 85%, with one application pending.
Earn In · Active- Counterparties
- Gravity Empire Investments · Brown Kwana
- Applies to
- Khorixas West Project · Copper · Gold · Silver
- Economic direction
- Mixed
- Period
- Dates not stated
- Key terms
- maximum interest: 85 %
How it affects our valuation
No valuation treatment is available for this arrangement.
An option over an additional Challa licence is separate from the existing wholly owned four-licence project.
Earn In · Active- Counterparties
- Tojo Minerals Pty Ltd
- Applies to
- Challa Gold-Nickel-Copper-PGE Project · Gold · Nickel · Copper · Platinum Group Metals
- Economic direction
- Mixed
- Period
- Dates not stated
- Key terms
- maximum interest: 100 %
How it affects our valuation
No valuation treatment is available for this arrangement.
After Newington sale, Midas retains contingent consideration with unproven milestones and buyer choice of payment form.
Other · Active- Counterparties
- Forrestania Resources Limited
- Applies to
- Newington Project · Gold · Lithium
- Economic direction
- Benefit
- Period
- From 2026-07-21; no end date stated
- Key terms
- resource or first 50koz milestone: 1,000,000 AUD
each additional 10koz: 200,000 AUD
decision-to-mine milestone: 1,000,000 AUD
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
The reviewed evidence documents selected career records and company outcomes, with material adverse and delivery evidence retained at company level. Personal attribution is limited; several individual histories and qualifications remain incomplete. Open-web results do not constitute exhaustive personal clearance.
Decision-relevant facts
Material summary
Mark Calderwood
Managing Director
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 3
- Individual contribution to company outcomes was not established.
- The combined name-based web searches were not exhaustive checks of court, criminal, sanctions, credential, or regulator databases; no clearance conclusion is possible.
- Complete prior-employer dates, qualifications and individual contributions were not independently verified from primary sources for this executive.
Maddison Cramer
Company Secretary
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 3
- Individual contribution to company outcomes was not established.
- The combined name-based web searches were not exhaustive checks of court, criminal, sanctions, credential, or regulator databases; no clearance conclusion is possible.
- Complete prior-employer dates, qualifications and individual contributions were not independently verified from primary sources for this executive.
Ryan Sebbes
Joint Company Secretary
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 3
- Individual contribution to company outcomes was not established.
- The combined name-based web searches were not exhaustive checks of court, criminal, sanctions, credential, or regulator databases; no clearance conclusion is possible.
- Complete prior-employer dates, qualifications and individual contributions were not independently verified from primary sources for this executive.
Company ownership
Investors & shareholders
Top registered shareholders
Register at 2026-03-11
| # | Investor / registered holder | % issued shares | Shares held |
|---|---|---|---|
| 1 | 9.40% | 19,128,905 | |
| 2 | 7.11% | 14,464,023 | |
| 3 | 4.59% | 9,348,686 | |
| 4 | 3.23% | 6,583,148 | |
| 5 | 3.04% | 6,181,631 | |
| 6 | 2.42% | 4,934,438 | |
| 7 | 2.31% | 4,700,000 | |
| 8 | 2.25% | 4,589,683 | |
| 9 | 2.21% | 4,501,926 | |
| 10 | 2.05% | 4,177,993 | |
| 11 | 1.85% | 3,762,900 | |
| 12 | 1.47% | 3,000,000 | |
| 13 | 1.47% | 3,000,000 | |
| 14 | 1.31% | 2,674,643 | |
| 15 | 1.12% | 2,287,323 | |
| 16 | 1.05% | 2,140,000 | |
| 17 | 1.05% | 2,137,486 | |
| 18 | 0.94% | 1,922,145 | |
| 19 | 0.94% | 1,915,059 | |
| 20 | 0.92% | 1,875,316 |
Disclosed substantial holders
Latest reviewed disclosure for each holder or reporting group
| Investor / reported group | Disclosed holding | Holding at |
|---|---|---|
| 5.98%Voting power | 2026-03-27 | |
| 5.33%Voting power | 2026-03-11 |
Sources & review notesEvidence checked through 2026-10-09
Coverage and limitations
- Two separate Symorgh Investments lines are retained with rank labels. The 2026 register does not provide total issued capital in this section; percentages are issuer-reported. Acorn’s manager-reported relevant interest may overlap registered accounts. A subsequent cessation notice was found but its extraction did not identify the holder; current group continuity may require further review.
Sources
- Annual Report to shareholders
Midas Minerals Limited / ASX · Published 2026-03-27 · Accessed 2026-10-09
Lists 20 ordinary-share accounts and Mark Calderwood’s substantial holding as at 11 March 2026.
PDF page 83 (printed page 82), ASX Additional Information / Top 20 holders and Substantial Holders
- Becoming a substantial holder
Acorn Capital Limited / ASX · Published 2026-04-23 · Accessed 2026-10-09
Reports 12,168,636 shares (5.98%) and investment-manager voting/disposal authority on 27 March 2026.
Form 603, opening sections and Annexures A/B
Disclosed activity
Insider transactions
Trading activity2 buys · 0 sells shownNet cash last 12 months no tradesShow 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 |
|---|---|---|---|---|---|---|
| 2026-08-19 | Michael BohmThe Bohm Family A/C
Details & evidence for Michael Bohm on 2026-08-19As disclosed: Issue of 750,000 shares for no consideration on conversion of nil exercise price performance rights
director · Start not disclosed The Bohm Family A/C · trustee and beneficiary CLJML Investments Pty Ltd <CLJML Super Fund A/C> · director, shareholder and beneficiary Charmaine Linda Lobo · spouse Change of Director's Interest Notice ↗ | Exerciseordinary shares | 750,000 | —Non Cash | — | 750,000 |
| 2026-08-19 | Michael BohmThe Bohm Family A/C
Details & evidence for Michael Bohm on 2026-08-19As disclosed: Issue of shares on conversion of vested Class L and X performance rights
director · Start not disclosed The Bohm Family A/C · trustee and beneficiary CLJML Investments Pty Ltd <CLJML Super Fund A/C> · director, shareholder and beneficiary Charmaine Linda Lobo · spouse Change of Director's Interest Notice ↗ | ExerciseClass X Performance Rights | 500,000 | —Non Cash | — | — |
| 2026-08-19 | Michael BohmThe Bohm Family A/C
Details & evidence for Michael Bohm on 2026-08-19As disclosed: Issue of shares on conversion of vested Class L and X performance rights
director · Start not disclosed The Bohm Family A/C · trustee and beneficiary CLJML Investments Pty Ltd <CLJML Super Fund A/C> · director, shareholder and beneficiary Charmaine Linda Lobo · spouse Change of Director's Interest Notice ↗ | ExerciseClass L Performance Rights | 250,000 | —Non Cash | — | — |
| 2026-08-19 | Michael BohmThe Bohm Family A/C
Details & evidence for Michael Bohm on 2026-08-19As disclosed: Off-market transfer of shares from Mr Michael Andrew Bohm <The Bohm Family A/C> to CLJML Investments Pty Ltd <CLJML Super Fund A/C>
director · Start not disclosed The Bohm Family A/C · trustee and beneficiary CLJML Investments Pty Ltd <CLJML Super Fund A/C> · director, shareholder and beneficiary Charmaine Linda Lobo · spouse Change of Director's Interest Notice ↗ | Transfer Outordinary shares | 750,000 | AUD 828,750.00 | AUD 1.105Disclosed price | — |
| 2026-07-10 | Sara KellyTYF Holdings Pty Ltd <TYF Investment A/C>
Details & evidence for Sara Kelly on 2026-07-10As disclosed: Nil – conversion of nil exercise price performance rights
director · Start not disclosed TYF Holdings Pty Ltd <TYF Investment A/C> · sole director of trustee and beneficiary Change of Director's Interest Notice ↗ | ExerciseClass X Performance Rights | 500,000 | —Non Cash | — | — |
| 2026-07-10 | Sara KellyTYF Holdings Pty Ltd <TYF Investment A/C>
Details & evidence for Sara Kelly on 2026-07-10As disclosed: Nil – conversion of nil exercise price performance rights
director · Start not disclosed TYF Holdings Pty Ltd <TYF Investment A/C> · sole director of trustee and beneficiary Change of Director's Interest Notice ↗ | ExerciseClass L Performance Rights | 500,000 | —Non Cash | — | — |
| 2026-07-10 | Michael BohmThe Bohm Family A/C
Details & evidence for Michael Bohm on 2026-07-10As disclosed: Issue of shares on conversion of vested Class L performance rights
director · Start not disclosed The Bohm Family A/C · trustee and beneficiary CLJML Investments Pty Ltd <CLJML Super Fund A/C> · director, shareholder and beneficiary Charmaine Linda Lobo · spouse Change of Director's Interest Notice ↗ | Exerciseordinary shares | 250,000 | —Non Cash | — | 750,000 |
| 2026-07-10 | Michael BohmThe Bohm Family A/C
Details & evidence for Michael Bohm on 2026-07-10As disclosed: Nil – conversion of nil exercise price performance rights
director · Start not disclosed The Bohm Family A/C · trustee and beneficiary CLJML Investments Pty Ltd <CLJML Super Fund A/C> · director, shareholder and beneficiary Charmaine Linda Lobo · spouse Change of Director's Interest Notice ↗ | ExerciseClass L Performance Rights | 250,000 | —Non Cash | — | — |
| 2026-07-10 | Michael Hood WilsonKaren Heather Lamb
Details & evidence for Michael Hood Wilson on 2026-07-10As disclosed: Issue of shares on conversion of vested Class X performance rights
director · Start not disclosed Vallation Pty Ltd · director and beneficiary June Lillian Wilson · mother; shares held jointly Karen Heather Lamb · spouse Change of Director's Interest Notice ↗ | Exerciseordinary shares | 500,000 | —Non Cash | — | 566,700 |
| 2026-07-10 | Michael Hood Wilson
Details & evidence for Michael Hood Wilson on 2026-07-10As disclosed: Issue of shares on conversion of vested Class L performance rights
director · Start not disclosed Vallation Pty Ltd · director and beneficiary June Lillian Wilson · mother; shares held jointly Karen Heather Lamb · spouse Change of Director's Interest Notice ↗ | Exerciseordinary shares | 500,000 | —Non Cash | — | 1,100,000 |
| 2026-07-10 | Michael Hood WilsonKaren Heather Lamb
Details & evidence for Michael Hood Wilson on 2026-07-10As disclosed: Nil – conversion of nil exercise price performance rights
director · Start not disclosed Vallation Pty Ltd · director and beneficiary June Lillian Wilson · mother; shares held jointly Karen Heather Lamb · spouse Change of Director's Interest Notice ↗ | ExerciseClass X Performance Rights | 500,000 | —Non Cash | — | — |
| 2026-07-10 | Michael Hood Wilson
Details & evidence for Michael Hood Wilson on 2026-07-10As disclosed: Nil – conversion of nil exercise price performance rights
director · Start not disclosed Vallation Pty Ltd · director and beneficiary June Lillian Wilson · mother; shares held jointly Karen Heather Lamb · spouse Change of Director's Interest Notice ↗ | ExerciseClass L Performance Rights | 500,000 | —Non Cash | — | — |
| 2026-07-10 | Mark CalderwoodMark Calderwood Family A/C
Details & evidence for Mark Calderwood on 2026-07-10As disclosed: Issue of shares on conversion of vested Class L performance rights
director · Start not disclosed Mark Calderwood Family A/C · trustee and beneficiary of reported account Amery Holdings Pty Ltd <The Calderwood Superannuation Fund A/C> · director and beneficiary of superannuation fund account Corporate and Resource Consultants Pty Ltd · beneficiary of trust that owns the company Delphine Faith Calderwood · spouse; account holder with related interest Kru Investments Pty Ltd · spouse-related account Change of Director's Interest Notice ↗ | Exerciseordinary shares | 1,000,000 | —Non Cash | — | 6,349,643 |
| 2026-07-10 | Mark CalderwoodMark Calderwood Family A/C
Details & evidence for Mark Calderwood on 2026-07-10As disclosed: Nil – conversion of nil exercise price performance rights
director · Start not disclosed Mark Calderwood Family A/C · trustee and beneficiary of reported account Amery Holdings Pty Ltd <The Calderwood Superannuation Fund A/C> · director and beneficiary of superannuation fund account Corporate and Resource Consultants Pty Ltd · beneficiary of trust that owns the company Delphine Faith Calderwood · spouse; account holder with related interest Kru Investments Pty Ltd · spouse-related account Change of Director's Interest Notice ↗ | ExerciseClass L Performance Rights | 1,000,000 | —Non Cash | — | — |
| 2026-07-10 | Sara KellyTYF Holdings Pty Ltd <TYF Investment A/C>
Details & evidence for Sara Kelly on 2026-07-10As disclosed: Issue of shares on conversion of vested Class L and Class X performance rights
director · Start not disclosed TYF Holdings Pty Ltd <TYF Investment A/C> · sole director of trustee and beneficiary Change of Director's Interest Notice ↗ | Exerciseordinary shares | 1,000,000 | —Non Cash | — | 3,081,759 |
| 2023-06-26 | Michael Hood Wilson
Details & evidence for Michael Hood Wilson on 2023-06-26As disclosed: Issue of performance rights under an employee incentive scheme as approved by shareholders on 5 May 2023.
director · Start not disclosed Vallation Pty Ltd · director and beneficiary June Lillian Wilson · mother; shares held jointly Karen Heather Lamb · spouse Change of Director's Interest Notice x 4 ↗ | GrantClass L Performance Rights | 500,000 | —Non Cash | — | — |
| 2023-06-26 | Michael NaylorGold Leaf Corporate Pty Ltd <Gold Leaf Corporate A/C>
Details & evidence for Michael Naylor on 2023-06-26As disclosed: Issue of performance rights under an employee incentive scheme as approved by shareholders on 5 May 2023.
director · Start not disclosed to 2024-08-28 MD & SI Super Fund A/C · beneficiary of super fund account Gold Leaf Corporate Pty Ltd <Gold Leaf Corporate A/C> · indirect interest through spouse-controlled company Sarah Naylor · spouse; disclosed holder Change of Director's Interest Notice x 4 ↗ | GrantClass L Performance Rights | 500,000 | —Non Cash | — | — |
| 2023-06-26 | Sara KellyTYF Holdings Pty Ltd <TYF Investment A/C>
Details & evidence for Sara Kelly on 2023-06-26As disclosed: Issue of performance rights under an employee incentive scheme as approved by shareholders on 5 May 2023.
director · Start not disclosed TYF Holdings Pty Ltd <TYF Investment A/C> · sole director of trustee and beneficiary Change of Director's Interest Notice x 4 ↗ | GrantClass L Performance Rights | 500,000 | —Non Cash | — | — |
| 2023-06-26 | Mark CalderwoodMark Calderwood Family A/C
Details & evidence for Mark Calderwood on 2023-06-26As disclosed: Issue of performance rights under an employee incentive scheme as approved by shareholders on 5 May 2023.
director · Start not disclosed Mark Calderwood Family A/C · trustee and beneficiary of reported account Amery Holdings Pty Ltd <The Calderwood Superannuation Fund A/C> · director and beneficiary of superannuation fund account Corporate and Resource Consultants Pty Ltd · beneficiary of trust that owns the company Delphine Faith Calderwood · spouse; account holder with related interest Kru Investments Pty Ltd · spouse-related account Change of Director's Interest Notice x 4 ↗ | GrantClass L Performance Rights | 1,000,000 | —Non Cash | — | — |
| 2023-06-26 | Mark CalderwoodMark Calderwood Family A/C
Details & evidence for Mark Calderwood on 2023-06-26As disclosed: Issue of performance rights under an employee incentive scheme as approved by shareholders on 5 May 2023.
director · Start not disclosed Mark Calderwood Family A/C · trustee and beneficiary of reported account Amery Holdings Pty Ltd <The Calderwood Superannuation Fund A/C> · director and beneficiary of superannuation fund account Corporate and Resource Consultants Pty Ltd · beneficiary of trust that owns the company Delphine Faith Calderwood · spouse; account holder with related interest Kru Investments Pty Ltd · spouse-related account Change of Director's Interest Notice x 4 ↗ | GrantClass K Performance Rights | 1,000,000 | —Non Cash | — | — |
| 2023-06-15 | Mark CalderwoodMark Calderwood Family A/C
Details & evidence for Mark Calderwood on 2023-06-15As disclosed: The 50,000 Shares acquired by Mr Calderwood on 15 June 2023 were acquired by Mr Calderwood (as trustee for the Mark Calderwood Family Trust), not in his personal capacity.
director · Start not disclosed Mark Calderwood Family A/C · trustee and beneficiary of reported account Amery Holdings Pty Ltd <The Calderwood Superannuation Fund A/C> · director and beneficiary of superannuation fund account Corporate and Resource Consultants Pty Ltd · beneficiary of trust that owns the company Delphine Faith Calderwood · spouse; account holder with related interest Kru Investments Pty Ltd · spouse-related account Change of Director's Interest Notice x 4 ↗ | Purchaseordinary shares | 50,000 | —Not Disclosed | — | — |
| 2023-06-14 | Mark Calderwood
Details & evidence for Mark Calderwood on 2023-06-14As disclosed: On 14 June 2023 Mr Calderwood (in his personal capacity) acquired a relevant interest in 50,000 Shares on-market at an average price of $0.2275 per Share.
director · Start not disclosed Mark Calderwood Family A/C · trustee and beneficiary of reported account Amery Holdings Pty Ltd <The Calderwood Superannuation Fund A/C> · director and beneficiary of superannuation fund account Corporate and Resource Consultants Pty Ltd · beneficiary of trust that owns the company Delphine Faith Calderwood · spouse; account holder with related interest Kru Investments Pty Ltd · spouse-related account Change of Director's Interest Notice x 4 ↗ | Purchaseordinary shares | 50,000 | — | AUD 0.2275Disclosed price | — |
Disclosed holding observations13 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 |
|---|---|---|---|---|
| 2026-08-19 | Michael Bohm
Details & evidence for Michael Bohm on 2026-08-19The Bohm Family A/C remaining balance after 750,000-share transfer and rights conversion.
director · Start not disclosed The Bohm Family A/C · trustee and beneficiary CLJML Investments Pty Ltd <CLJML Super Fund A/C> · director, shareholder and beneficiary Charmaine Linda Lobo · spouse Change of Director's Interest Notice ↗ | Positionordinary shares | 750,000 | — |
| 2026-08-19 | Michael Bohm
Details & evidence for Michael Bohm on 2026-08-19CLJML Super Fund A/C post-transfer balance (55,000 prior plus 750,000 transferred shares).
director · Start not disclosed The Bohm Family A/C · trustee and beneficiary CLJML Investments Pty Ltd <CLJML Super Fund A/C> · director, shareholder and beneficiary Charmaine Linda Lobo · spouse Change of Director's Interest Notice ↗ | Positionordinary shares | 805,000 | — |
| 2026-07-10 | Mark Calderwood
Details & evidence for Mark Calderwood on 2026-07-10Mark Calderwood Family A/C post-conversion balance.
director · Start not disclosed Mark Calderwood Family A/C · trustee and beneficiary of reported account Amery Holdings Pty Ltd <The Calderwood Superannuation Fund A/C> · director and beneficiary of superannuation fund account Corporate and Resource Consultants Pty Ltd · beneficiary of trust that owns the company Delphine Faith Calderwood · spouse; account holder with related interest Kru Investments Pty Ltd · spouse-related account Change of Director's Interest Notice ↗ | Positionordinary shares | 6,349,643 | — |
| 2026-07-10 | Mark Calderwood
Details & evidence for Mark Calderwood on 2026-07-10Registered/direct balance reported after conversion.
director · Start not disclosed Mark Calderwood Family A/C · trustee and beneficiary of reported account Amery Holdings Pty Ltd <The Calderwood Superannuation Fund A/C> · director and beneficiary of superannuation fund account Corporate and Resource Consultants Pty Ltd · beneficiary of trust that owns the company Delphine Faith Calderwood · spouse; account holder with related interest Kru Investments Pty Ltd · spouse-related account Change of Director's Interest Notice ↗ | Positionordinary shares | 2,215,724 | — |
| 2026-07-10 | Mark Calderwood
Details & evidence for Mark Calderwood on 2026-07-10Amery Holdings Pty Ltd <The Calderwood Superannuation Fund A/C>.
director · Start not disclosed Mark Calderwood Family A/C · trustee and beneficiary of reported account Amery Holdings Pty Ltd <The Calderwood Superannuation Fund A/C> · director and beneficiary of superannuation fund account Corporate and Resource Consultants Pty Ltd · beneficiary of trust that owns the company Delphine Faith Calderwood · spouse; account holder with related interest Kru Investments Pty Ltd · spouse-related account Change of Director's Interest Notice ↗ | Positionordinary shares | 2,700,000 | — |
| 2026-07-10 | Mark Calderwood
Details & evidence for Mark Calderwood on 2026-07-10Additional Amery Holdings Pty Ltd holding; source lists this separately without the super fund account name.
director · Start not disclosed Mark Calderwood Family A/C · trustee and beneficiary of reported account Amery Holdings Pty Ltd <The Calderwood Superannuation Fund A/C> · director and beneficiary of superannuation fund account Corporate and Resource Consultants Pty Ltd · beneficiary of trust that owns the company Delphine Faith Calderwood · spouse; account holder with related interest Kru Investments Pty Ltd · spouse-related account Change of Director's Interest Notice ↗ | Positionordinary shares | 350,000 | — |
| 2026-07-10 | Michael Bohm
Details & evidence for Michael Bohm on 2026-07-10The Bohm Family A/C post-conversion balance.
director · Start not disclosed The Bohm Family A/C · trustee and beneficiary CLJML Investments Pty Ltd <CLJML Super Fund A/C> · director, shareholder and beneficiary Charmaine Linda Lobo · spouse Change of Director's Interest Notice ↗ | Positionordinary shares | 750,000 | — |
| 2026-07-10 | Michael Hood Wilson
Details & evidence for Michael Hood Wilson on 2026-07-10Vallation International Pte Ltd holding.
director · Start not disclosed Vallation Pty Ltd · director and beneficiary June Lillian Wilson · mother; shares held jointly Karen Heather Lamb · spouse Change of Director's Interest Notice ↗ | Positionordinary shares | 1,004,159 | — |
| 2026-07-10 | Michael Hood Wilson
Details & evidence for Michael Hood Wilson on 2026-07-10Michael Hood Wilson direct balance after conversion.
director · Start not disclosed Vallation Pty Ltd · director and beneficiary June Lillian Wilson · mother; shares held jointly Karen Heather Lamb · spouse Change of Director's Interest Notice ↗ | Positionordinary shares | 1,100,000 | — |
| 2026-07-10 | Michael Hood Wilson
Details & evidence for Michael Hood Wilson on 2026-07-10Joint interest with June Lillian Wilson (mother).
director · Start not disclosed Vallation Pty Ltd · director and beneficiary June Lillian Wilson · mother; shares held jointly Karen Heather Lamb · spouse Change of Director's Interest Notice ↗ | Positionordinary shares | 200,000 | — |
| 2026-07-10 | Michael Hood Wilson
Details & evidence for Michael Hood Wilson on 2026-07-10Spouse Karen Heather Lamb holding.
director · Start not disclosed Vallation Pty Ltd · director and beneficiary June Lillian Wilson · mother; shares held jointly Karen Heather Lamb · spouse Change of Director's Interest Notice ↗ | Positionordinary shares | 566,700 | — |
| 2026-07-10 | Sara Kelly
Details & evidence for Sara Kelly on 2026-07-10TYF Investment A/C post-conversion balance.
director · Start not disclosed TYF Holdings Pty Ltd <TYF Investment A/C> · sole director of trustee and beneficiary Change of Director's Interest Notice ↗ | Positionordinary shares | 3,081,759 | — |
| 2026-03-11 | Mark Calderwood
Details & evidence for Mark Calderwood on 2026-03-11Annual report snapshot states Mark Calderwood held 10,844,290 shares (5.33%) as at 11 March 2026; account-level allocation not stated in that table.
director · Start not disclosed Mark Calderwood Family A/C · trustee and beneficiary of reported account Amery Holdings Pty Ltd <The Calderwood Superannuation Fund A/C> · director and beneficiary of superannuation fund account Corporate and Resource Consultants Pty Ltd · beneficiary of trust that owns the company Delphine Faith Calderwood · spouse; account holder with related interest Kru Investments Pty Ltd · spouse-related account Annual Report to shareholders ↗ | Positionordinary shares | 10,844,290 | 5.33%Issued Shares |
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 inventory22 documents
MM1 ASX closing price, 25 September 2026Market Data · HighExtracted
Latest eligible local MM1 ordinary share close was A$1.24 on 25 September 2026 with volume 462,048; source was market data provider via miners.collect_stock_prices.
- Document ID
- market-price-2026-09-25
- Published UTC
- 2026-09-25T06:00:00Z
- Projects
- —
- Commodities
- —
Application for quotation of securities - MM1Corporate Action · HighExtracted
Appendix 2A after conversion of 150,000 rights gives 246,327,427 quoted ordinary shares, 7,992,500 remaining performance rights and 3,000,000 options.
- Document ID
- quotation-2026-09-21
- Published UTC
- 2026-09-21T07:06:00Z
- Projects
- —
- Commodities
- —
Managing Director incentive remuneration and proposed performance rightsGovernance · MediumExtracted
Board proposed up to 1m performance rights for managing director, subject to shareholder approval, linked to CuEq resource, PFS and share-price hurdles; A$50k prior-year bonus.
- Document ID
- md-incentives-2026-09-17
- Published UTC
- 2026-09-17T06:34:00Z
- Projects
- —
- Commodities
- —
Further high-grade copper intercepts at DeblinResults · HighExtracted
DBDD002 returned 10.9m at 5.10% Cu, extending the assayed Deblin corridor; seven Otavi rigs and initial Deblin/Spaaztu plus updated T-13 resources guided for Q1 2027.
- Document ID
- deblin-assays-2026-09-14
- Published UTC
- 2026-09-13T23:31:00Z
- Projects
- otavi
- Commodities
- copper · silver · gold
Half Yearly Report and AccountsResults · HighExtracted
Reviewed half-year financial report: cash A$29,154,744 and loss A$3,445,352 for six months to 30 June 2026; subsequent share conversions and 1,817,500 new rights disclosed.
- Document ID
- half-year-report-2026
- Published UTC
- 2026-09-10T08:04:00Z
- Projects
- —
- Commodities
- —
Wide high-grade copper-silver intercepts extend SpaatzuResults · HighExtracted
Spaatzu drill-tested strike extends 1.2km; shallow copper-silver intercepts support a potential initial resource, not a resource estimate.
- Document ID
- spaatzu-assays-2026-08-17
- Published UTC
- 2026-08-16T23:00:00Z
- Projects
- otavi
- Commodities
- copper · silver
Midas intersects wide, high-grade copper at DeblinResults · HighExtracted
First Deblin diamond assays reported 35.6m at 3.35% Cu plus 17.7m at 3.21% Cu in DBDD001; no Deblin resource yet.
- Document ID
- deblin-assays-2026-08-10
- Published UTC
- 2026-08-09T22:34:00Z
- Projects
- otavi
- Commodities
- copper · silver · gold
June 2026 Quarterly Activities and Appendix 5BOperations · HighExtracted
The June quarter reported strong T-13 and emerging-deposit drilling, seven active rigs, A$29.203 million cash, 8.65 quarters of funding and the post-quarter Newington sale completion.
- Document ID
- quarterly-2026-06-30
- Published UTC
- 2026-07-27T06:56:36Z
- Projects
- otavi · south-otavi · west-otavi · otjiwarongo · khorixas-west · challa · aylmer · greenbush · newington
- Commodities
- copper · silver · gold · lithium
Application for quotation of securities - MM1Corporate Action · HighExtracted
Midas converted 3.95 million nil-exercise-price performance rights into ordinary shares and reported 245,252,427 quoted ordinary shares afterward.
- Document ID
- quotation-2026-07-10
- Published UTC
- 2026-07-10T07:09:29Z
- Projects
- —
- Commodities
- —
Canaccord Global Metals and Mining Conference PresentationPresentation · HighExtracted
The presentation framed T-13 as a shallow high-grade 211 kt CuEq resource with 80% of resource value attributed to copper and 20% to silver, and outlined multiple resource targets.
- Document ID
- canaccord-presentation-2026-05-20
- Published UTC
- 2026-05-19T22:23:36Z
- Projects
- otavi · south-otavi · west-otavi · otjiwarongo · khorixas-west
- Commodities
- copper · silver · gold
March 2026 Quarterly Activities and Appendix 5BResource Update · HighExtracted
The quarter reported the first T-13 Inferred MRE of 10.5 Mt at 1.62% Cu and 21.3 g/t Ag for 169 kt copper and 7.15 Moz silver, plus continued drilling.
- Document ID
- quarterly-2026-03-31
- Published UTC
- 2026-04-28T09:20:01Z
- Projects
- otavi
- Commodities
- copper · silver
Application for quotation of securities - MM1Financing · HighExtracted
Midas quoted 37,333,334 placement shares at A$0.75, taking quoted ordinary shares to 240,877,427.
- Document ID
- quotation-2026-04-22
- Published UTC
- 2026-04-21T23:39:38Z
- Projects
- —
- Commodities
- —
Annual Report to shareholdersResults · HighExtracted
The audited 2025 annual report reconciled the Otavi asset acquisition, securities, contingent payments and A$8.783 million year-end cash.
- Document ID
- annual-report-2025
- Published UTC
- 2026-03-27T08:23:41Z
- Projects
- otavi · south-otavi · challa · aylmer · greenbush
- Commodities
- copper · silver · gold · lithium
December 2025 Quarterly Activities and Appendix 5BOperations · HighExtracted
The quarter reported initial high-grade Spaatzu copper-silver drilling, active T-13 drilling and A$8.785 million cash after completing Otavi.
- Document ID
- quarterly-2025-12-31
- Published UTC
- 2026-01-29T05:18:33Z
- Projects
- otavi
- Commodities
- copper · silver · gold
Midas completes acquisition of Otavi Copper Project, NamibiaTransaction · HighExtracted
Midas completed the acquisition of the 1,776 square kilometre Otavi project and commenced multi-rig drilling.
- Document ID
- otavi-completion-2025-12-22
- Published UTC
- 2025-12-21T22:33:53Z
- Projects
- otavi
- Commodities
- copper · silver · gold
September 2025 Quarterly Activities and Appendix 5BResults · MediumExtracted
The September quarter report recorded A$15.286 million cash and a completed A$11.5 million placement while Otavi acquisition work advanced.
- Document ID
- quarterly-2025-09-30
- Published UTC
- 2025-10-31T05:23:50Z
- Projects
- otavi · south-otavi
- Commodities
- copper · gold · silver
Final approval received for Otavi Project acquisitionTransaction · HighExtracted
Midas received the final regulatory approval required for the Otavi acquisition and reported about A$15.3 million cash after its recent placement.
- Document ID
- otavi-final-approval-2025-10-31
- Published UTC
- 2025-10-30T22:33:22Z
- Projects
- otavi
- Commodities
- copper · silver
Half Yearly Report and AccountsResults · MediumExtracted
The reviewed half-year accounts recorded A$3.97 million cash at 30 June 2025 and described the pending Otavi and South Otavi transactions.
- Document ID
- half-year-report-2025-06-30
- Published UTC
- 2025-09-09T08:58:20Z
- Projects
- otavi · south-otavi · challa · aylmer · greenbush
- Commodities
- copper · silver · gold · lithium
Otavi Project Acquisition UpdateTransaction · MediumExtracted
The ten Otavi licences had transferred into the target entity, leaving Namibian competition approval before the target shares could transfer to Midas.
- Document ID
- otavi-acquisition-update-2025-08-28
- Published UTC
- 2025-08-27T22:08:18Z
- Projects
- otavi
- Commodities
- copper · silver
Successful $6.5m placementFinancing · HighExtracted
Midas received commitments for a two-tranche A$6.5 million placement of up to 43,333,333 shares at A$0.15.
- Document ID
- placement-2025-05-20
- Published UTC
- 2025-05-19T22:56:04Z
- Projects
- otavi · south-otavi
- Commodities
- copper
Midas extends footprint in Otavi, NamibiaTransaction · MediumExtracted
Midas obtained a staged option over the 195 square kilometre South Otavi EPL with a right to earn up to 80%.
- Document ID
- south-otavi-option-2025-05-19
- Published UTC
- 2025-05-18T22:41:00Z
- Projects
- south-otavi
- Commodities
- copper · gold
Transformational Project AcquisitionTransaction · HighExtracted
Midas agreed to acquire 100% of the entity holding ten Otavi EPLs covering about 1,776 square kilometres from Nexa, with upfront and contingent cash consideration and a 1% NSR.
- Document ID
- transformational-project-acquisition-2025-05-16
- Published UTC
- 2025-05-15T23:43:07Z
- Projects
- otavi
- Commodities
- copper · silver · gold
Evidence facts49
1776 km2
2025-05-163000000 USD
2025-05-163000000 USD
2025-05-161 %
2025-05-16195 km2
2025-05-1980 %
2025-05-196500000 AUD
2025-05-2043333333 shares
2025-05-203970729 AUD
2025-06-3015286000 AUD
2025-09-30100 %
2025-12-228785000 AUD
2025-12-312000000 USD
2025-12-313000000 USD
2025-12-312000000 USD
2025-12-31240877427 shares
2026-04-2210.5 Mt
2026-04-161.62 % Cu
2026-04-1621.3 g/t Ag
2026-04-16169000 t Cu
2026-04-167150000 oz Ag
2026-04-1680 %
2026-05-2020 %
2026-05-20245252427 shares
2026-07-107250000 rights
2026-07-103000000 options
2026-07-1029203000 AUD
2026-06-308.65 quarters
2026-06-303127000 AUD
2026-06-301500000 AUD
2026-07-21end of 2026 None
2026-07-271.24 AUD per ordinary share
2026-09-25462048 ordinary shares
2026-09-251.24 AUD per ordinary share
2026-09-111.27 AUD per ordinary share
2026-09-143.35 % Cu
2026-08-101.2 km
2026-08-1729154744 AUD
2026-06-303445352 AUD
2026-06-301817500 rights
2026-08-11850000 shares
2026-08-1975000 shares
2026-09-085.1 % Cu
2026-09-1410.9 m
2026-09-14Q1 2027 None
2026-09-141000000 rights
2026-09-17246327427 shares
2026-09-217992500 rights
2026-09-213000000 options
2026-09-21Conflicts requiring judgment2
- Otavi acquisition decision-to-mine milestone payment
The later audited annual report states US$2 million and is selected over the initial announcement's US$3 million term.
- 30 June 2026 cash and cash equivalents
The later reviewed half-year financial statements report A$29,154,744, A$48,256 below the earlier Appendix 5B amount; the reviewed figure is used for the equity bridge.