OREMAVEN
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2026-11-06
◂ Monitor OMH Australian Securities Exchange

OM Holdings Limited

Producer · Manganese · Others · Malaysia · Singapore · Australia · China Rating locked: sign in to view v6.2
Last 2026-11-06
A$0.22
1D
—
1M
—
YTD
—
1Y
—
Upside
Locked: sign in to view
Mkt cap
A$168.2M
EV
—
Cash
US$48.8M
Debt
US$181.1M

Funding, performance and ownership

Financials & Capital

As of 2026-06-30
Cash US$48.8M Not Meaningful
Debt US$181.1M Net cash US$-132.3M
Basic shares 764.3M 2026-04-01
Runway Not Meaningful A trading and smelting platform requires rolling working-capital and debt access; simple cash-burn quarters are not decision-useful.

Liquidity

Financial position

US$48.8m cash balances and US$181.1m borrowings at 30 June 2026 after the Tshipi disposal and US$20.665m private-bond redemption. The accessible issuer release does not split unrestricted cash/collateral or update the US$59.709m undrawn facilities reported at FY2025, so available liquidity remains uncertain.

Inventory composition4

Total inventory was US$257.928 million: US$158.993 million raw materials at cost, US$14.541 million work-in-progress, US$38.436 million finished goods at cost, and US$45.958 million raw materials and finished goods carried at net realizable value. Product tonnages by inventory state were not disclosed. This is a 31 December 2025 detailed inventory breakdown; a June 2026 category breakdown was not available in the accessible issuer release.

Raw materials carried at cost
US$159M carrying
Ferroalloy work-in-progress carried at cost
US$14.5M carrying
Finished ferroalloy products carried at cost
US$38.4M carrying
Raw materials and finished goods carried at net realizable value
US$46M carrying

Capital structure

Ownership and dilution

Ordinary shares
764.3M
Fully diluted
764.3M

The audited annual report records 766,256,801 issued ordinary shares and 1,933,000 treasury shares, producing 764,323,801 shares outstanding. No current dilutive securities were evidenced in the reviewed package, so the fully diluted basis equals outstanding shares.

Security classes1
ClassTypeQuantityStrikeExpiry
Ordinary shares outstanding after deducting 1,933,000 treasury shares from 766,256,801 issued sharesOrdinary Share764.3M——

KPI history

Operating metrics

Source values by period
Operating metric source table11
MetricProjectPeriodPeriod typeValueStatus
ProductionOm SarawakFY2025Year191,087 tonnes ferrosiliconReported
ProductionOm SarawakFY2025Year311,791 tonnes manganese alloysReported
SalesOm SarawakFY2025Year192,302 tonnes ferrosiliconReported
SalesOm SarawakFY2025Year302,013 tonnes manganese alloysReported
RevenueCompanyFY2025Year636,305,000 USDReported
EBITDACompanyFY2025Year50,700,000 USDReported
SalesBootu CreekFY2025Year10,546 dry tonnes manganese productsReported
Free Cash FlowCompanyFY2025Year-23,187,000 USD, operating cash flow less PP&E purchasesSource Derived
RevenueCompany1H2026Half Year265,200,000 USDReported
OtherCompany1H2026Half Year30,300,000 USD gross profitReported
EBITDACompany1H2026Half Year87,000,000 USD including disposal effectsReported

Capital history

Capital events

3 events · newest first
DateEventAmountSharesPriceStatusTerms
2026-05-29Ann. 2026-03-09DividendA$7.6M——Completed—
2026-03-20Ann. 2026-03-06DebtUS$20.7M——Completed—
2023-12-04Ann. 2023-12-01RaisingOrdinary Fully Paid SharesA$13M27.6MA$0.472CompletedStrategic share subscription completed at A$0.472 per share.Max 27.6M · Until 2023-12-04 · JFE Shoji Corporation

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 2026-09-26

FY2025 annual report baseline checked for live JVs, partnerships, PPA obligations and commodity/FX hedges, then reconciled to the August Butcherbird agreement. No live commodity/FX hedge with disclosed remaining term or volume was found; historical cash-flow hedge reserve was nil at FY2025 year-end.

OMM has earned 60% and manages the Bryah manganese joint venture; future exploration and development spend is attributable by interest and subject to further decisions.

Joint Venture · Active
Counterparties
Albright Metals Limited
Applies to
Bryah Basin Manganese Joint Venture · Manganese
Economic direction
Mixed
Period
From 2024-12-31; no end date stated
Key terms
OMM earned interest: 60 %
How it affects our valuation

No valuation treatment is available for this arrangement.

Hydro-power supply supports Sarawak cost competitiveness; OMH guarantees certain unpaid claims under the subsidiary PPA. Issuer states 10-year price lock, but actual tariff, minimum draw and precise expiry are not in the accessible summary.

Other · Active
Counterparties
Syarikat Sesco Berhad
Applies to
OM Sarawak integrated ferroalloy smelting and trading platform · Manganese · Others
Economic direction
Mixed
Period
Dates not stated
Key terms
Contracted power: 350 MW
Locked power-price period: 10 years
Parent sponsor guarantee: —
How it affects our valuation

No valuation treatment is available for this arrangement.

OMH retained a 40% equity-accounted OMQ interest after selling 60% to Sinian; the smelter has been suspended since December 2021 and restart or distributions are unproven.

Strategic Partnership · Active
Counterparties
Shaanxi Sinian Metal & Mining Co., Ltd
Applies to
OM Materials Qinzhou retained associate interest · Manganese
Economic direction
Mixed
Period
From 2025-09-23; no end date stated
Key terms
Retained OMH economic interest: 40 %
Partner equity interest: 60 %
How it affects our valuation

No valuation treatment is available for this arrangement.

OM Materials (S) has conditional take-or-pay purchasing and exclusive marketing rights over qualifying Butcherbird concentrate. Financing and approvals must precede volume; no public price differential or working-capital commitment was quantified.

Offtake · Conditional
Counterparties
Element 25 Limited · Butcherbird Operations Pty Ltd
Applies to
OM Sarawak integrated ferroalloy smelting and trading platform · Manganese
Economic direction
Mixed
Period
Dates not stated
Key terms
Maximum purchase volume: 1,100,000 tonnes/year
Initial term: 5 years from first shipment
Pricing: benchmark-linked
Take-or-pay: —
Conditions precedent: Board, unconditional project financing including NAIF, regulatory approvals
How it affects our valuation

No valuation treatment is available for this arrangement.