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 MM1 ASX

Midas Minerals Limited

Resource Stage · Copper · Silver · Namibia · Australia · Canada Rating locked: sign in to view v6.2
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

People, delivery and responsibility

Management background checks

Evidence through 2026-10-09

Research assessment

Executive team

Rating locked: sign in to viewTeam rating and score are available to subscribers

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

Individual involvement and employer context shown separately

Mark Calderwood

Managing Director

Current
Full background report for Mark Calderwood

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.

Full background report

Mark Calderwood

Managing Director

Career chronology

  • 2022-07-01–cutoff: Midas Minerals Limited — Managing Director. Annual Report to shareholders (Annual Report to shareholders; directors’ report/corporate directory, roster disclosure)

  • Appointed Jan 2004; stepped down Jan 2013 after nine years and moved to part-time technical project-generation role.: Perseus Mining — Managing Director and Chief Executive Officer. Board of Directors and Executive Team (Executive biography for Mark Calderwood)

  • Issuer biography says he oversaw discovery and development from 2016 to 2019.: Bald Hill lithium project — Discovery/development leadership. Board of Directors and Executive Team (Executive biography for Mark Calderwood)

  • Issuer profile says exploration manager since listing in 2021; MD appointment July 2022.: Midas Minerals — Exploration Manager, then Managing Director. Board of Directors and Executive Team (Executive biography for Mark Calderwood)

Contributions and company outcomes

Midas added Otavi to its exploration portfolio; operating delivery remains unproven

FY2025 · issuer reported · low materiality

Midas’ FY2025 report described the acquisition of the Otavi copper-silver-gold project in Namibia as a transformational portfolio addition and showed a year-end market-capitalisation increase, while the company remained loss-making (FY2025 loss A$2.77m). Exploration success and future project value remain prospective; no operating mine delivery is established in this record.

Attribution: Role overlaps event; causation unproven. The cited record establishes a company or employer event. For role_overlap, the executive held a relevant role in the period, but the reviewed source does not establish personal causation or an individual enforcement finding. For employer_only, no individual link or matching tenure was established.

Relevance: This is relevant context for assessing Managing Director at the same employer; it should not be read as proof of individual performance or misconduct.

Midas Minerals Annual Report 2025 (Annual Report 2025, Chair’s letter; audited company performance table.)

Suitability for the current role

Role fit evidence is limited for Managing Director

2022-07-01–cutoff · analyst inference · low materiality

Issuer sources describe Mark Calderwood’s current role and prior experience, including Perseus Mining: Appointed Jan 2004; stepped down Jan 2013 after nine years and moved to part-time technical project-generation role. The background is relevant context for Managing Director; the claims are issuer-reported and personal contribution to outcomes is not inferred.

Attribution: Responsibility not applicable. No outcome responsibility is inferred from title alone.

Relevance: The role is relevant to the company’s current stage; available evidence supports only a limited assessment of Mark Calderwood’s professional suitability.

Board of Directors and Executive Team (Executive biography for Mark Calderwood)

Evidence gaps

  • 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

Current
Full background report for Maddison Cramer

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.

Full background report

Maddison Cramer

Company Secretary

Career chronology

  • 2022-09-01–cutoff: Midas Minerals Limited — Company Secretary. Annual Report to shareholders (Annual Report to shareholders; directors’ report/corporate directory, roster disclosure)

  • Issuer profile; exact commencement not stated.: Belltree Corporate — Co-founder and Managing Director. Board of Directors and Executive Team (Executive biography for Maddison Cramer)

  • Former role per issuer profile; dates not stated.: Bellevue Gold — Company Secretary. Board of Directors and Executive Team (Executive biography for Maddison Cramer)

  • Prior roles per issuer profile; dates not stated.: Bellanhouse Legal / HWL Ebsworth — Associate. Board of Directors and Executive Team (Executive biography for Maddison Cramer)

Contributions and company outcomes

Midas added Otavi to its exploration portfolio; operating delivery remains unproven

FY2025 · issuer reported · low materiality

Midas’ FY2025 report described the acquisition of the Otavi copper-silver-gold project in Namibia as a transformational portfolio addition and showed a year-end market-capitalisation increase, while the company remained loss-making (FY2025 loss A$2.77m). Exploration success and future project value remain prospective; no operating mine delivery is established in this record.

Attribution: Employer context; no individual link established. The cited record establishes a company or employer event. For role_overlap, the executive held a relevant role in the period, but the reviewed source does not establish personal causation or an individual enforcement finding. For employer_only, no individual link or matching tenure was established.

Relevance: This is relevant context for assessing Company Secretary at the same employer; it should not be read as proof of individual performance or misconduct.

Midas Minerals Annual Report 2025 (Annual Report 2025, Chair’s letter; audited company performance table.)

Suitability for the current role

Role fit evidence is limited for Company Secretary

2022-09-01–cutoff · analyst inference · low materiality

Issuer sources describe Maddison Cramer’s current role and prior experience, including Belltree Corporate: Issuer profile; exact commencement not stated. The background is relevant context for Company Secretary; the claims are issuer-reported and personal contribution to outcomes is not inferred.

Attribution: Responsibility not applicable. No outcome responsibility is inferred from title alone.

Relevance: The role is relevant to the company’s current stage; available evidence supports only a limited assessment of Maddison Cramer’s professional suitability.

Board of Directors and Executive Team (Executive biography for Maddison Cramer)

Evidence gaps

  • 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

Current
Full background report for Ryan Sebbes

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.

Full background report

Ryan Sebbes

Joint Company Secretary

Career chronology

  • 2025-04-14–cutoff: Midas Minerals Limited — Joint Company Secretary. Annual Report to shareholders (Annual Report to shareholders; directors’ report/corporate directory, roster disclosure)

  • Issuer profile; exact commencement not stated.: Belltree Corporate — Corporate adviser. Board of Directors and Executive Team (Executive biography for Ryan Sebbes)

  • Issuer profile; current concurrent role as stated on page.: Energy Transition Minerals — Company Secretary and Financial Controller. Board of Directors and Executive Team (Executive biography for Ryan Sebbes)

Contributions and company outcomes

Midas added Otavi to its exploration portfolio; operating delivery remains unproven

FY2025 · issuer reported · low materiality

Midas’ FY2025 report described the acquisition of the Otavi copper-silver-gold project in Namibia as a transformational portfolio addition and showed a year-end market-capitalisation increase, while the company remained loss-making (FY2025 loss A$2.77m). Exploration success and future project value remain prospective; no operating mine delivery is established in this record.

Attribution: Employer context; no individual link established. The cited record establishes a company or employer event. For role_overlap, the executive held a relevant role in the period, but the reviewed source does not establish personal causation or an individual enforcement finding. For employer_only, no individual link or matching tenure was established.

Relevance: This is relevant context for assessing Joint Company Secretary at the same employer; it should not be read as proof of individual performance or misconduct.

Midas Minerals Annual Report 2025 (Annual Report 2025, Chair’s letter; audited company performance table.)

Suitability for the current role

Role fit evidence is limited for Joint Company Secretary

2025-04-14–cutoff · analyst inference · low materiality

Issuer sources describe Ryan Sebbes’s current role and prior experience, including Belltree Corporate: Issuer profile; exact commencement not stated. The background is relevant context for Joint Company Secretary; the claims are issuer-reported and personal contribution to outcomes is not inferred.

Attribution: Responsibility not applicable. No outcome responsibility is inferred from title alone.

Relevance: The role is relevant to the company’s current stage; available evidence supports only a limited assessment of Ryan Sebbes’s professional suitability.

Board of Directors and Executive Team (Executive biography for Ryan Sebbes)

Evidence gaps

  • 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.