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 MYE ASX

Mastermyne Group Limited

Producer · Others · Australia Rating locked: sign in to view v6.2
Last 2026-11-06
A$0.55
1D
—
1M
—
YTD
—
1Y
—
Upside
Locked: sign in to view
Mkt cap
A$169.8M
EV
A$123.3M
Cash
A$47.2M
Debt
A$600K
1 newer ASX announcement not yet reflected in this valuation

Funding, performance and ownership

Financials & Capital

As of 2026-06-30
Cash A$47.2M Self Funding
Debt A$600K Net cash A$46.6M
Basic shares 308.7M 2026-07-31
Runway Self Funding FY26 was profitable on an underlying EBITDA basis and year-end net cash increased; an exploration-style cash-burn runway is not meaningful.

Liquidity

Financial position

FY26 results presentation reports A$47.2 million cash, A$0.6 million borrowings and A$46.5 million net cash at 30 June 2026; the A$30 million working-capital facility was undrawn and renewed in July 2026. The A$7.6 million legal provision is modelled as a separate risk-adjusting equity bridge deduction.

Inventory composition1

A$8.5 million of inventory is in the consolidated balance sheet; no mineral ore stockpile or class breakdown is disclosed in the accessible presentation.

Inventory on hand; product and material classes not separately disclosed
A$8.5M carrying

Capital structure

Ownership and dilution

Ordinary shares
308.7M
Fully diluted
382.7M

The 31 July 2026 Appendix 2A anchors 308,661,611 ordinary shares, 52,830,394 options and 21,237,733 performance rights. Fully diluted shares sum those three classes. The ordinary count includes the July exercises; unexercised options remain separately dilutive. The 26 August issuer presentation rounds ordinary shares to 308.8 million. A 14 September quotation filing was identified but not extractable, so the latest verified exact July denominator is retained; any later small issue is a model limitation.

Security classes3
ClassTypeQuantityStrikeExpiry
ASX-quoted ordinary fully paid sharesOrdinary Share308.7M——
Unquoted options exercisable at A$0.23Option52.8MA$0.232028-05-31
Unquoted employee performance rights with nil exercise pricePerformance Right21.2MA$0—

KPI history

Operating metrics

Comparable series use a shared scale

EBITDA · Australian underground mining-services portfolio · Year

AUD

2 periods
  1. FY25 comparable continuing operations in FY26 presentation13,800,000 AUD
    Reported
  2. FY2620,300,000 AUD
    Reported

Revenue · Australian underground mining-services portfolio · Year

AUD

2 periods
  1. FY25 comparable continuing operations in FY26 presentation210,200,000 AUD
    Reported
  2. FY26237,700,000 AUD
    Reported
Operating metric source table10
MetricProjectPeriodPeriod typeValueStatus
RevenueServices PortfolioH1 FY26Half Year108,900,000 AUDReported
EBITDAServices PortfolioH1 FY26Half Year8,300,000 AUDReported
RevenueServices PortfolioFY26Year237,700,000 AUDReported
EBITDAServices PortfolioFY26Year20,300,000 AUDReported
Free Cash FlowServices PortfolioFY26Year17,400,000 AUD after A$1.5m net PPE and A$1.4m lease principal paymentsSource Derived
OtherServices Portfolio30 June 2026Point In Time432,000,000 AUD order book including A$178m extension optionsReported
InventoryServices Portfolio30 June 2026Point In Time8,500,000 AUDReported
OtherServices PortfolioFY26Year79 percent of revenueReported
RevenueServices PortfolioFY25 comparable continuing operations in FY26 presentationYear210,200,000 AUDReported
EBITDAServices PortfolioFY25 comparable continuing operations in FY26 presentationYear13,800,000 AUDReported
Company guidance2
MetricProjectPeriodLowHighStatus
Revenueservices-portfolioFY26220,000,000230,000,000 AUDAchieved
Underlying EBITDAservices-portfolioFY2617,000,00018,000,000 AUDAchieved

Capital history

Capital events

3 events · newest first
DateEventAmountSharesPriceStatusTerms
2026-07-31RaisingA$2.6K11.4K—Completed—
2026-07-07RaisingA$451.72K—Completed—
2025-04-23Ann. 2025-04-24BuybackOrdinary Fully Paid SharesA$89.3K628.8KA$0.142CompletedCompleted minimum-holding buy-back and cancellation; authorization is not separately evidenced in the local package.Until 2025-04-23

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.

Partial · as of 2026-09-26

FY25 audited related-party note and accessible FY26 issuer results presentation establish the material named arrangements and selected terms. Full FY26 annual PDF and original contract schedules were unavailable for exhaustive counterparty-term reconciliation.

Exclusive distribution access to critical Jennmar strata consolidation products extends through 2047; volume, pricing and minimum purchase obligations are not disclosed in the accessible presentation.

Strategic Partnership · Active
Counterparties
Jennmar Holdings
Applies to
Australian underground mining-services portfolio · Others
Economic direction
Benefit
Period
Dates not stated
Key terms
Exclusive Australian coal-sector distribution expiry: 2047
How it affects our valuation

No valuation treatment is available for this arrangement.

Dendrobium mining-services contract is scheduled to commence in September 2026. A$85m initial two-year gross revenue is contracted; two optional two-year extensions create up to A$255m total gross revenue, not committed cash flow.

Other · Active
Counterparties
GM³
Applies to
Australian underground mining-services portfolio · Others
Economic direction
Benefit
Period
From 2026-09-01; no end date stated
Key terms
Initial term: 2 years
Initial gross revenue: 85,000,000 AUD
Extension options: 2 two-year options
Total gross revenue including options: 255,000,000 AUD
How it affects our valuation

No valuation treatment is available for this arrangement.

Related-party exclusive M&A support arrangement with M Resources, controlled by the 54% shareholder group; fixed retainer and contingent success fee.

Strategic Partnership · Active
Counterparties
M Resources Pty Ltd
Applies to
Australian underground mining-services portfolio
Economic direction
Burden
Period
Dates not stated
Key terms
Monthly retainer: 20,000 AUD/month
Acquisition success fee: 0.7 percent of acquired enterprise value
Renewal: Rolling two-year terms with six-month non-renewal notice
How it affects our valuation

No valuation treatment is available for this arrangement.

Current mining-services scopes at Anglo-linked mines are contracted until April 2027 with renewal negotiations underway. Strata consolidation has longer stated coverage; exact scope economics are undisclosed.

Other · Active
Counterparties
Anglo American mine-owning entities
Applies to
Australian underground mining-services portfolio · Others
Economic direction
Benefit
Period
Dates not stated
Key terms
Current mining-services contract expiry: April 2027
Longer strata-consolidation term: 2029
How it affects our valuation

No valuation treatment is available for this arrangement.