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 RND ASX

Rand Mining Limited

Producer · Gold · Australia Rating locked: sign in to view v6.2
Last 2026-11-06
A$2.3
1D
—
1M
—
YTD
—
1Y
—
Upside
Locked: sign in to view
Mkt cap
A$130.8M
EV
A$129.2M
Cash
A$2.1M
Debt
A$433K
1 newer ASX announcement not yet reflected in this valuation

Funding, performance and ownership

Financials & Capital

As of 2026-06-30
Cash A$2.1M Finite
Debt A$433K Net cash A$1.7M
Basic shares 56.9M 2026-06-30
Runway 2.2 quarters Mechanical Appendix 5B item 8.7 calculation using reported June-quarter outflows; it is not management guidance.

Liquidity

Financial position

June 2026 cash was A$2.085 million. A secondary FY2026 annual-results account describes A$16.14 million operating cash inflow but A$11.51 million investing outflow and A$0.983 million lease liabilities. Cash conversion is weaker than headline profit; primary annual verification remains a material gap.

Inventory composition4

Audited 31 December 2025 inventory detail remains the latest directly inspected schedule. A secondary FY2026 results account describes A$77.13m gold on hand and A$88.43m total inventory at 30 June 2026; the primary annual report was inaccessible. The March 2026 operating ROM stockpile is distinct from strategic bullion.

Gold bullion on hand
A$72.5M carrying
Gold bullion in transit
A$485.5K carrying
Silver on hand
A$2.7M carrying
EKJV ROM gold stockpile
— carrying · 3,307 troy oz Au contained

Capital structure

Ownership and dilution

Ordinary shares
56.9M
Fully diluted
56.9M

FY2025 audited 56,875,961 ordinary shares with no Rand options; July 2026 quarterly and contemporaneous FY2026 results account indicate no issue or executed buy-back through 30 June 2026. The FY2026 primary annual report remains inaccessible.

Security classes1
ClassTypeQuantityStrikeExpiry
Fully paid ordinary sharesOrdinary Share56.9M——

KPI history

Operating metrics · East Kundana Joint Venture

Production shown
01,0592,1183,1774,236FY2026 Q1: 1,705 troy oz Au attributableFY2026 Q1FY2026 Q2: 1,680 troy oz Au attributableFY2026 Q2FY2026 Q3: 3,782 troy oz Au attributableFY2026 Q3
MetricUnitTrendFY2026 Q1FY2026 Q2FY2026 Q3
Productiontroy oz Au attributableFY2026 Q1: 1,705 troy oz Au attributableFY2026 Q2: 1,680 troy oz Au attributableFY2026 Q3: 3,782 troy oz Au attributable1,7051,6803,782
Operating metric source table26
MetricProjectPeriodPeriod typeValueStatus
ProductionEast Kundana JvFY2006Year6,399 troy oz Au attributableReported
ProductionEast Kundana JvFY2007Year12,333 troy oz Au attributableReported
ProductionEast Kundana JvFY2008Year14,909 troy oz Au attributableReported
ProductionEast Kundana JvFY2009Year8,119 troy oz Au attributableReported
ProductionEast Kundana JvFY2010Year19,406 troy oz Au attributableReported
ProductionEast Kundana JvFY2011Year16,179 troy oz Au attributableReported
ProductionEast Kundana JvFY2012Year15,466 troy oz Au attributableReported
ProductionEast Kundana JvFY2013Year23,888 troy oz Au attributableReported
ProductionEast Kundana JvFY2014Year19,976 troy oz Au attributableReported
ProductionEast Kundana JvFY2015Year24,355 troy oz Au attributableReported
ProductionEast Kundana JvFY2016Year25,937 troy oz Au attributableReported
ProductionEast Kundana JvFY2017Year27,362 troy oz Au attributableReported
ProductionEast Kundana JvFY2018Year23,687 troy oz Au attributableReported
ProductionEast Kundana JvFY2019Year29,958 troy oz Au attributableReported
ProductionEast Kundana JvFY2020Year14,088 troy oz Au attributableReported
ProductionEast Kundana JvFY2021Year20,787 troy oz Au attributableReported
ProductionEast Kundana JvFY2022Year9,343 troy oz Au attributableReported
ProductionEast Kundana JvFY2023Year7,874 troy oz Au attributableReported
ProductionEast Kundana JvFY2024Year7,366 troy oz Au attributableReported
ProductionEast Kundana JvFY2025Year6,518 troy oz Au attributableReported
ProductionEast Kundana JvFY2026 Q1Quarter1,705 troy oz Au attributableReported
ProductionEast Kundana JvFY2026 Q2Quarter1,680 troy oz Au attributableReported
ProductionEast Kundana JvFY2026 Q3Quarter3,782 troy oz Au attributableReported
ProductionEast Kundana JvFY2026 first nine monthsOther7,167 troy oz Au attributableSource Derived
InventoryEast Kundana Jv31 March 2026Point In Time3,307 troy oz Au containedReported
Free Cash FlowCompanyFY2026Year4,634,000 AUD before financingSource Derived

Capital history

Capital events

2 events · newest first
DateEventAmountSharesPriceStatusTerms
2026-06-30Ann. 2026-07-29LeaseA$433K——Completed—
2026-01-12Ann. 2026-01-06BuybackRnd Ordinary Fully Paid———OngoingUp to 2,415,082 shares are authorized for on-market repurchase; no minimum applies and none had been purchased through 30 June 2026.Max 2.4M · Period 2026-01-12 to 2027-01-11 · On-market cash purchases in AUD; purchase price not predetermined · Mainbreak Securities Pty Ltd (CAR 288043) of RM Capital Pty Ltd (AFSL 221938)

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

Annual and quarterly reports identify active joint ventures, toll processing and royalty expenses, but complete contractual tariffs, royalty recipients, expiry and the FY2026 annual text were unavailable.

Rand owns a minority 12.25% East Kundana interest, with a 12.5% Raleigh ore-division exception; Evolution controls operations and capital scheduling.

Joint Venture · Active
Counterparties
Tribune Resources Limited · Evolution Mining Limited through Gilt-Edged Mining Pty Ltd
Applies to
East Kundana Joint Venture · Gold · Silver
Economic direction
Mixed
Period
Dates not stated
Key terms
Rand interest in EKJV: 12.25 %
Evolution-controlled interest: 51 %
How it affects our valuation

No valuation treatment is available for this arrangement.

Rand and Tribune each own 50% of Seven Mile Hill exploration ground; no compliant resource or commercial mine plan is disclosed.

Joint Venture · Active
Counterparties
Tribune Resources Limited
Applies to
Seven Mile Hill · Gold
Economic direction
Mixed
Period
Dates not stated
Key terms
Rand ownership: 50 %
How it affects our valuation

No valuation treatment is available for this arrangement.

EKJV ore is toll processed at Evolution’s Mungari facility; processing expense is included in reported costs and the analyst all-in cash outflow proxy.

Tolling Or Processing · Active
Counterparties
Evolution Mining Limited
Applies to
East Kundana Joint Venture · Gold · Silver
Economic direction
Burden
Period
Dates not stated
Key terms
Treatment facility: Mungari processing plant
Unit toll charge: — AUD/tonne
How it affects our valuation

No valuation treatment is available for this arrangement.

Rand recorded recurring EKJV royalty expense; beneficiary mix and rate schedule are not fully disclosed. The analyst cash-cost proxy includes this burden once.

Royalty · Active
Counterparties
Undisclosed EKJV royalty recipients
Applies to
East Kundana Joint Venture · Gold
Economic direction
Burden
Period
Dates not stated
Key terms
FY2025 royalty expense: 712,040 AUD
How it affects our valuation

No valuation treatment is available for this arrangement.