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ASX (ordinary shares also quoted on NZX)
Santana Minerals Limited
v8.1 · smi-20261102t225804-full- Last 2026-11-06
- A$0.44
- 1D
- —
- 1M
- —
- YTD
- —
- 1Y
- —
- Fair value
- Locked: sign in to view
- Upside
- Locked: sign in to view
- Mkt cap
- A$435.9M
- EV
- A$256.7M
- Cash
- A$179.7M
- Debt
- A$236K
Investment view
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Investment view
Our rating, thesis and what the price implies are available to subscribers.
Sign in or enter a guest codeAnnouncements
Latest 12 of 9All sources ▸- Appendix 2A: 4.5m options exercised and 345k performance rights vested, 22 October 2026Corporate Action
- Quarterly Activities and Appendix 5B, quarter to 30 September 2026Results
- Annual Report 2026 (year to 30 June 2026)Results
- Completion of Tranche 2 Placement, 9 April 2026Financing
- A$130 million Placement and Share Purchase Plan, 17 February 2026Financing
- Bendigo-Ophir Project Land Acquisition (Ardgour Station), 3 July 2025Transaction
- Bendigo-Ophir Updated Pre-Feasibility Study, 1 July 2025Study
- RAS Mineral Resource Estimate Review, 4 March 2025Resource Update
- Bendigo-Ophir Gold Project Pre-Feasibility Study, 15 November 2024 (superseded)Study
Event calendar · next 12 months
7 events| Timing | Event | Category | Confidence | Materiality | Investor relevance |
|---|---|---|---|---|---|
| Subject to FTA consents; extension rights to 19 Dec 2025 used; date not confirmed | Ardgour land settlement (NZ$18m cash and NZ$5m shares) | Economic Arrangement | Inferred | Medium | Settlement releases the outstanding land consideration and the royalty nullification over about half of RAS. |
| November to December 2026 (company guidance) | Expert panel draft decision on BOGP consent | Permitting | Company Guided | High | A draft decision with consent conditions tests whether the project can move to final decision; a refusal would remove the valued project. |
| Lender proposals under evaluation; no date given (inferred window to construction start) | Project debt facilities selected and documented | Financing | Inferred | High | Debt is not committed; without it the A$277m pre-production build requires further equity at or near the current price. |
| 11 December 2026 | Expiry of 409,038 options at A$0.3125 | Corporate Action | Confirmed | Medium | Small dilution if exercised before expiry; immaterial to value. |
| Q1 2027 (company guidance) | Development start (subject to consent and FID) | Construction Or Commissioning | Company Guided | High | Start of the 14-month pre-production capital draw of about A$277m. |
| Quarter to 31 December 2026 (ASX quarterly deadline, date inferred) | December 2026 quarterly activities and cash report | Results | Inferred | Medium | Cash burn, consent progress and debt process update before the final decision. |
| 20 January 2027 (company-scheduled) | Final Fast-track decision on BOGP consent | Permitting | Company Guided | High | Gates final investment decision, debt execution and construction start; the company has moved its decision date before. |
Executive roster
As of 2026-10-22Background checks ▸Directors and the company secretary from the FY2026 Annual Report (directors and officers, pp.41-42); senior managers from the company website roster as summarised in the management assessment (appointment dates not established); no other officers identified.
devCoverage status: Partial
Portfolio detail
Assets
Core asset
Bendigo-Ophir Gold Project (RAS, SRX deposits)
NZ
PFS Developer100% ownedGold
Permitting: Fast-track consent application under expert-panel review; 30-year mining permit granted Nov 2025; freehold land largely acquired; no construction decision yet.
- Study
- Updated pre-feasibility study (June 2025, 1.2Mtpa CIL)
- Post-tax NPV (study prices, attributable)
- A$780.0md
- NPV restated at our deck (attributable)
- Locked
- IRR
- 3,900.0%s
- Initial capex (100%)
- A$277.0ms
- Capital intensity
- A$3,063/(oz/yr)d
- LoM AISC
- A$1,660/ozs
- Mine life
- 13.8 yrss
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.
Published study economicsIssuer or study metrics
NPVA$1.5B6.5% discount
IRR65%Published return
Initial capexA$277MPublished capital estimate
Operating cost1,741AUD/oz
NPVA$780M6.5% discount
IRR39%Published return
Initial capexA$277MPublished capital estimate
Operating cost1,559AUD/oz
Updated PFS case at A$4,950/oz (3-month spot), after tax, unleveraged, 1.248Moz, 13.8-year life.
Updated PFS base case at A$3,500/oz (US$2,220/oz), after tax, unleveraged.
Resources & reserves3
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | Indicated | 21.5 Mt | 2.3 g/t Au | Gold | 2025-03-31 |
| Mineral Resource | Inferred | 12.8 Mt | 1.8 g/t Au | Gold | 2025-03-31 |
| Ore Reserve | Probable | 15 Mt | 2.58 g/t Au | Gold | 2025-06-30 |
Tenements3
Milestones4
- Expert panel draft decision on the Fast-track consent
Pending · High materiality
- Final decision on the Fast-track consent (company date 20 January 2027)
Pending · High materiality
- Development start targeted for Q1 2027 (company guidance; subject to consent and FID)
Pending · High materiality
- First gold: not disclosed; PFS builds in about 14 months from pre-production start
Pending · High materiality
Permits & approvals3
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| NZ Fast-track Approvals Act consents (BOGP) | New Zealand | Pending | — | Yes |
| 30-year mining permit MMP61326 | New Zealand | Granted | — | No |
| Overseas Investment Office consent for freehold land | New Zealand | Granted | — | No |
Economic studies2
| Study | Stage | Status | Date | Summary |
|---|---|---|---|---|
| Updated Pre-Feasibility Study (June 2025), 1.2Mtpa CIL | PFS | Current | 2025-07-01 | 1.248Moz over 13.8 years; pre-production A$277m incl. 10% contingency; NPV6.5 after tax A$1.52bn at A$4,950/oz and A$780m at A$3,500/oz; 28% corporate tax; Crown royalty 10% of accounting profit or 2% NSR; 6.5% real discount rate. |
| Pre-Feasibility Study (November 2024) | PFS | Superseded | 2024-11-15 | Superseded by the Updated PFS: single-stage SAG mill at 1.5Mtpa, 8% discount rate, A$2,894/oz base case. |
Other
Snuol exploration project, Cambodia (34% free-carried)
KH
Early Explorer34% ownedGold
Granted exploration licences; company holds 34% interest free-carried to a feasibility study; holding dilutes to not less than 12.75% if not contributed; no resource estimate.
- Ownership
- 3,400.0%
- Commodity
- Aur
- Country
- KHr
- Best recent intercept (grade x width)
- —
- Metres drilled (12M)
- —
- Exploration spend (12M)
- —
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
d derivedr our researchg guidances study forecastm daily marketNo marker: as reported— / NM missing or not meaningful (hover for why)
Funding, performance and ownership
Financials & Capital
Liquidity
Financial position
Cash of A$179.7m (A$175m net of payables) covers the company-funded share of development but not the full A$277m pre-production capital plus land and royalty consideration. Debt funding has been sought from selected lenders but no facility is committed at the cutoff; the vehicle finance facility is the only drawn borrowing (A$0.24m). Lease liabilities were A$0.25m at 30 June 2026.
Capital structure
Ownership and dilution
- Ordinary shares
- 990.6M
- Fully diluted
- 992.2M
30 Jun 2026 balance 985,760,563 (AR note 15) + 4,845,000 shares issued 22 Oct 2026 on option and performance right exercise = 990,605,563 quoted after quotation (Appendix 2A part 4.1). No other issues between 30 June and 22 October 2026 are recorded in the reviewed filings. Fully diluted adds 1,210,000 performance rights and 409,038 options (AR note 12 and Appendix 2A). The 4.5m options exp. 23 Oct 2026 were exercised on 22 Oct.
Security classes3
| Class | Type | Quantity | Strike | Expiry |
|---|---|---|---|---|
| Ordinary fully paid shares on issue after the 22 Oct 2026 quotation | Ordinary Share | 990.6M | — | — |
| Options exp. 11 Dec 2026 (409,038 at A$0.3125) | Option | 409K | A$0.312 | 2026-12-11 |
| Unquoted performance rights on issue | Performance Right | 1.2M | — | — |
Actuals and forecasts
Financial statements
| AUD | Unit | Trend | FY2025A | FY2026A |
|---|---|---|---|---|
| Operations | ||||
| Gold production (base case) | koz | 0.00 | 0.00 | |
| Profit and loss | ||||
| Revenue | AUDm | 0.0 | 0.0 | |
| Operating costs (excl. royalties) | AUDm | 4.1 | 6.4 | |
| Royalties | AUDm | 0.0 | 0.0 | |
| Total cash costs | AUDm | 4.1 | 6.4 | |
| EBITDA | AUDm | (4.1) | (6.4) | |
| Net profit after tax | AUDm | (1.7) | (1.4) | |
| Cash flow | ||||
| Operating cash flow | AUDm | (2.7) | (2.3) | |
| Capex (pre-production, sustaining and E&E) | AUDm | 16.3 | 48.8 | |
| Free cash flow | AUDm | (19.0) | (51.1) | |
| Balance sheet | ||||
| Cash | AUDm | 50.5 | 188.3 | |
| Debt | AUDm | 0.0 | 0.0 | |
| Net debt (negative is net cash) | AUDm | (50.5) | (188.3) | |
| Per share | ||||
| Shares on issue at year end | m shares | 722.7 | 985.8 | |
| Basic loss per share | AUD/share | (0.00) | (0.00) | |
| Multiples and ratios | ||||
| EV / EBITDA (x, current EV) | x | (61.5) | (39.2) | |
| P / E (x, current market cap) | x | (254.6) | (306.0) | |
| FCF yield (current market cap) | % | -4.4% | -11.8% | |
| EBITDA margin | % | — | — | |
| Net debt / EBITDA (x) | x | 12.3 | 29.3 | |
KPI history
Operating metrics
Operating metric source table5
| Metric | Project | Period | Period type | Value | Status |
|---|---|---|---|---|---|
| Net loss after tax, year to 30 June 2025 | Company | FY2025 | Year | -1,692,292 AUD | Reported |
| Net loss after tax, year to 30 June 2026 | Company | FY2026 | Year | -1,408,143 AUD | Reported |
| Net operating cash outflow, year to 30 June 2026 | Company | FY2026 | Year | -2,268,873 AUD | Reported |
| Operating plus investing cash flow, quarter to 30 Sep 2026 (Appendix 5B 1.9 + 2.6) | Company | Q1 FY2027 | Quarter | -8,590,000 AUD | Reported |
| Exploration and evaluation payments, quarter to 30 Sep 2026 | Bendigo Ophir | Q1 FY2027 | Quarter | 9,561,000 AUD | Reported |
Capital history
Capital events
| Date | Event | Amount | Shares | Price | Status | Terms |
|---|---|---|---|---|---|---|
| 2026-02-23Ann. 2026-02-17 | Raising | A$113M | 125.5M | — | Completed | — |
| 2026-04-09Ann. 2026-02-17 | Raising | A$17M | 18.9M | — | Completed | — |
| 2026-03-20Ann. 2026-02-17 | Raising | A$4.1M | 4.6M | — | Completed | — |
| 2025-08-20Ann. 2025-08-11 | Raising | A$60M | 103.4M | — | Completed | — |
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.
Royalty, land and Snuol terms from the FY2026 Annual Report (note 13 and 17), the Updated PFS royalty assumptions and the land and Cambodia announcements; the Ardgour royalty nullification and royalty-purchase terms beyond the stated amounts were not in the reviewed documents.
Three private royalties averaging 2.25% of gold revenue in the Updated PFS (A$576m total royalty in the schedule including the Crown royalty) plus landowner access royalties of 1% rising to 2% of net value.
Royalty · Active- Counterparties
- Three private royalty holders and landowners
- Applies to
- Bendigo-Ophir Gold Project (RAS, SRX deposits) · Gold
- Economic direction
- Burden
- Period
- Dates not stated
- Key terms
- Average private royalty rate: 2.25 percent of gross revenue
Landowner access royalty range: — 1.0 to 2.0 percent of net value
How it affects our valuation
No valuation treatment is available for this arrangement.
Crown royalty payable from production at the higher of 2% of net smelter return or 10% of accounting profit; the PFS schedule totals A$410m at A$4,950/oz.
Royalty · Conditional- Counterparties
- Crown (New Zealand)
- Applies to
- Bendigo-Ophir Gold Project (RAS, SRX deposits) · Gold
- Economic direction
- Burden
- Period
- Dates not stated
- Key terms
- Crown royalty: 10 percent of accounting profit (APR)
Crown royalty floor: 2 percent of net smelter return
How it affects our valuation
No valuation treatment is available for this arrangement.
Freehold Ardgour Station land for the plant and infrastructure; settlement subject to FTA consent and OIO approval; removes a 1% gross royalty over about half of RAS. The Annual Report commitments of A$159.6m (A$144.9m net of deposits) cover land and royalty purchases and plant.
Other · Conditional- Counterparties
- Ardgour Station landowners
- Applies to
- Bendigo-Ophir Gold Project (RAS, SRX deposits) · Gold
- Economic direction
- Mixed
- Period
- From 2025-07-02; no end date stated
- Key terms
- Total staged consideration: 25 NZD million
Cash consideration: 18 NZD million
Share consideration: 5 NZD million
Non-refundable deposit: 2 NZD million
Royalty nullified: 1 percent gross production royalty over about half of RAS
How it affects our valuation
No valuation treatment is available for this arrangement.
Renaissance has earned 60% of the Cambodian subsidiary; the company elected not to contribute and is free-carried to a definitive feasibility study, leaving a 34% holding that dilutes to not less than 12.75% without contribution.
Farm Out · Active- Counterparties
- Renaissance Cambodia Pty Ltd
- Applies to
- Snuol exploration project, Cambodia (34% free-carried) · Gold
- Economic direction
- Mixed
- Period
- Dates not stated
- Key terms
- Renaissance earned interest in subsidiary: 60 percent
Company interest after elections: 34 percent
How it affects our valuation
No valuation treatment is available for this arrangement.
Unincorporated joint venture with Southern Gold Limited holding 15% of the Cambodian exploration licences, free-carried until a feasibility study.
Joint Venture · Active- Counterparties
- Southern Gold Limited
- Applies to
- Snuol exploration project, Cambodia (34% free-carried) · Gold
- Economic direction
- Burden
- Period
- Dates not stated
- Key terms
- SGL interest in Cambodian exploration licences: 15 percent
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
Expanded primary-source review of Santana’s FY2026 annual report and New Zealand Fast-track regulator records. Permitting delay and technical information requests remain a material unresolved project risk; the consenting process remained active through the 5 October groundwater report. Person-specific adverse-record checks and full employment chronology remain incomplete.
Decision-relevant facts
Material summary
Damian Spring
Executive Director & CEO
FailureDocumented · Medium materiality
Fast-track decision slipped; substantive consent remained undecided
The official expert-panel index records a processing suspension requested by the applicant, effective 26 June 2026, confirmation of resumption on 17 August, and a later resumption minute on 16 September. The FY2026 annual report says the final consent was still outstanding and decision timing had moved from October 2026 to January 2027. As of the evidence cutoff, the application remained active: applicants answered several information requests, a conditions writer was appointed and the panel received an appointed groundwater expert report on 5 October. This is a material schedule/regulatory risk, not a refusal or a finding of personal misconduct.
Role overlaps event; causation unproven · Spring was CEO and applicant representative during the consenting process; no source attributes the delay or requests to personal failure.
Bendigo-Ophir Gold Project expert panel correspondence and minutes · Minutes 38, 45 and 52; process status through 30 September 2026
Bendigo-Ophir Gold Project reports and advice · RFI register through 29 September and expert groundwater report received 5 October 2026
Santana Minerals Limited Annual Report 2026 · Chairman’s Letter, p. 3
Evidence gaps · 2
- Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened sources.
- The grouped adverse-topic search was preliminary; person-specific regulator, court, safety, environmental, insolvency, fraud and governance checks remain incomplete.
Sam Smith
Executive Director & CDO
Company SuccessIssuer Reported · Medium materiality
Breaker Resources merger with Ramelius
Santana’s team profile states Smith was CEO of Breaker Resources and was integral to its successful merger with Ramelius Resources. The page provides no detailed role dates or transaction outcome measures.
Individual involvement documented · This is the current issuer’s description of Smith’s role; independent transaction and contribution analysis was not completed.
Our team · Sam Smith profile
Evidence gaps · 2
- Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened sources.
- The grouped adverse-topic search was preliminary; person-specific regulator, court, safety, environmental, insolvency, fraud and governance checks remain incomplete.
Craig McPherson
CFO & Company Secretary
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 2
- Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened sources.
- The grouped adverse-topic search was preliminary; person-specific regulator, court, safety, environmental, insolvency, fraud and governance checks remain incomplete.
Paul Miles
General Manager
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 2
- Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened sources.
- The grouped adverse-topic search was preliminary; person-specific regulator, court, safety, environmental, insolvency, fraud and governance checks remain incomplete.
Dave Stretch
Project Manager
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 2
- Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened sources.
- The grouped adverse-topic search was preliminary; person-specific regulator, court, safety, environmental, insolvency, fraud and governance checks remain incomplete.
Cheryl Low
Environment Manager
EnvironmentDocumented · Medium materiality
EPA panel requested a site-specific hazardous-installations risk assessment
The EPA request dated 26 May 2026 was addressed to Matakanui Gold c/o Cheryl Low and sought a site-specific assessment of environmental risks from hazardous installations, including natural hazards. The regulator’s reports page records that Matakanui Gold requested an extension and filed a response on 22 June. This is a technical information request in a live consent review, not an enforcement action or a finding that Low or the applicant breached environmental law.
Individual involvement documented · The official letter names Low as the applicant contact; it establishes her interface role, not authorship of the requested technical assessment or personal responsibility for any hazard.
Request for information from Matakanui Gold Limited regarding the Bendigo-Ophir Gold Project (RFI 6) · pp. 1–2, recipient, question and due date
Bendigo-Ophir Gold Project reports and advice · RFI 6 applicant response listing, 22 June 2026
Evidence gaps · 2
- Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened sources.
- The grouped adverse-topic search was preliminary; person-specific regulator, court, safety, environmental, insolvency, fraud and governance checks remain incomplete.
Alex Nichol
Geology Manager
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 2
- Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened source.
- Person-specific adverse-topic checks in regulator, court, safety and environmental records remain incomplete.
Christian White
Financial Controller
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 2
- Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened source.
- Person-specific adverse-topic checks in regulator, court, safety and environmental records remain incomplete.
Tony Lee
Commercial Manager
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 2
- Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened source.
- Person-specific adverse-topic checks in regulator, court, safety and environmental records remain incomplete.
Roger Bain
Health and Safety Manager
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 2
- Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened source.
- Person-specific adverse-topic checks in regulator, court, safety and environmental records remain incomplete.
Company ownership
Investors & shareholders
Registered shareholder list unavailable
The available disclosures below do not provide a complete ranked register.
Sources & review notesEvidence checked through 2026-10-09
Coverage and limitations
- The cited filing does not provide a reliably extracted registered ordinary-shareholder top-20 table. The register is therefore unavailable.
- Substantial-holder notices in the local cache were not exhaustively reconciled for this ticker; no current substantial-holder quantities are asserted. Nominee/custodian beneficial ownership is not visible without underlying disclosures.
Sources
- Annual Report to shareholders
ASX / Santana Minerals Limited · Published 2026-09-29 · Accessed 2026-10-09
Issuer filing reviewed as part of ownership-source coverage. A reliable ranked ordinary-shareholder table was not extracted from this source.
2026/2026-09-29_Annual Report to shareholders_b627f47a2bfed970.pdf; filing review
Disclosed activity
Insider transactions
Trading activity39 buys · 2 sells shownNet cash last 12 months A$2.0mShow 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 |
|---|---|---|---|---|---|---|
| 2026-07-07 | Peter CookAjava Holdings Pty Ltd
Details & evidence for Peter Cook on 2026-07-07As disclosed: On-market purchases on 7 and 8 July 2026 in Ajava Holdings Pty Ltd.
non_executive_director · Start not disclosed Change of Director's Interest Notice - Cook ↗ | Purchaseordinary | 1,600,000 | AUD 709,264.00 | AUD 0.44329Calculated average | — |
| 2026-07-07 | Samuel Smith
Details & evidence for Samuel Smith on 2026-07-07As disclosed: On-market purchase.
executive_director · Start not disclosed Change of Director's Interest Notice - Smith ↗ | Purchaseordinary | 22,173 | —Not Disclosed | AUD 0.455Disclosed price | — |
| 2026-07-07 | Damian Spring
Details & evidence for Damian Spring on 2026-07-07As disclosed: On-market purchase.
executive_director · Start not disclosed Change of Director's Interest Notice - Spring ↗ | Purchaseordinary | 18,000 | —Not Disclosed | NZD 0.555Disclosed price | — |
| 2026-04-08 | Emma ScotneyWarialda Pty Ltd as trustee for the Sconti A/C
Details & evidence for Emma Scotney on 2026-04-08As disclosed: Participation in placement at $0.90 per share.
non_executive_director · Start not disclosed Change of Director's Interest Notice - Scotney ↗ | Subscriptionordinary | 200,000 | AUD 180,000.00 | AUD 0.9Disclosed price | — |
| 2026-04-08 | Frederick James Leslie BuntingDepot Corporation Limited
Details & evidence for Frederick James Leslie Bunting on 2026-04-08As disclosed: Participation in placement at $0.90 per share.
non_executive_director · Start not disclosed Change of Director's Interest Notice - Bunting ↗ | Subscriptionordinary | 222,223 | AUD 200,000.70 | AUD 0.9Disclosed price | — |
| 2026-04-08 | Peter CookAjava Holdings Pty Ltd
Details & evidence for Peter Cook on 2026-04-08As disclosed: Participation in placement at $0.90 per share.
non_executive_director · Start not disclosed Change of Director's Interest Notice - Cook ↗ | Subscriptionordinary | 911,111 | AUD 820,000.00 | AUD 0.9Disclosed price | — |
| 2026-03-20 | Samuel SmithWanderlei Industries Family Trust
Details & evidence for Samuel Smith on 2026-03-20As disclosed: Participation in Share Purchase Plan.
executive_director · Start not disclosed Change of Director's Interest Notice - Smith ↗ | Subscriptionordinary | 27,720 | AUD 24,948.00 | AUD 0.9Disclosed price | — |
| 2026-03-20 | Damian Spring
Details & evidence for Damian Spring on 2026-03-20As disclosed: Participation in Share Purchase Plan.
executive_director · Start not disclosed Change of Director's Interest Notice - Spring ↗ | Subscriptionordinary | 27,720 | AUD 24,948.00 | AUD 0.9Disclosed price | — |
| 2026-03-20 | Emma ScotneyWarialda Pty Ltd as trustee for the Sconti A/C
Details & evidence for Emma Scotney on 2026-03-20As disclosed: Participation in Share Purchase Plan.
non_executive_director · Start not disclosed Change of Director's Interest Notice - Scotney ↗ | Subscriptionordinary | 27,720 | AUD 24,948.00 | AUD 0.9Disclosed price | — |
| 2026-03-20 | Peter CookAjava Holdings Pty Ltd
Details & evidence for Peter Cook on 2026-03-20As disclosed: Participation in Share Purchase Plan.
non_executive_director · Start not disclosed Change of Director's Interest Notice - Cook ↗ | Subscriptionordinary | 27,720 | AUD 24,948.00 | AUD 0.9Disclosed price | — |
| 2026-03-20 | Frederick James Leslie BuntingDepot Corporation Limited
Details & evidence for Frederick James Leslie Bunting on 2026-03-20As disclosed: Participation in Share Purchase Plan.
non_executive_director · Start not disclosed Change of Director's Interest Notice - Bunting ↗ | Subscriptionordinary | 27,720 | AUD 24,948.00 | AUD 0.9Disclosed price | — |
| 2025-12-16 | Samuel SmithWanderlei Industries Family Trust
Details & evidence for Samuel Smith on 2025-12-16As disclosed: Exercise of 1,200,000 unlisted options at $0.3125 each.
executive_director · Start not disclosed Change of Director's Interest Notice - Smith ↗ | Exerciseordinary | 1,200,000 | AUD 375,000.00 | AUD 0.3125Disclosed price | — |
| 2025-12-10 | Samuel SmithWanderlei Industries Family Trust
Details & evidence for Samuel Smith on 2025-12-10As disclosed: Issue of 180,000 performance rights as approved by shareholders; two tranches, expiring 31 December 2027.
executive_director · Start not disclosed Change of Director's Interest Notice - Smith ↗ | Grantperformance rights | 180,000 | —Not Disclosed | — | — |
| 2025-09-09 | Samuel SmithWanderlei Industries Family Trust
Details & evidence for Samuel Smith on 2025-09-09As disclosed: Participation in Share Purchase Plan (scaled back).
executive_director · Start not disclosed Change of Director's Interest Notices (x 5) ↗ | Subscriptionordinary | 1,431 | AUD 829.98 | AUD 0.58Disclosed price | — |
| 2025-09-09 | Damian Spring
Details & evidence for Damian Spring on 2025-09-09As disclosed: Participation in Share Purchase Plan (scaled back).
executive_director · Start not disclosed Change of Director's Interest Notices (x 5) ↗ | Subscriptionordinary | 8,706 | AUD 5,049.48 | AUD 0.58Disclosed price | — |
| 2025-09-09 | Emma ScotneyWarialda Pty Ltd as trustee for the Sconti A/C
Details & evidence for Emma Scotney on 2025-09-09As disclosed: Participation in Share Purchase Plan (scaled back).
non_executive_director · Start not disclosed Change of Director's Interest Notices (x 5) ↗ | Subscriptionordinary | 8,706 | AUD 5,049.48 | AUD 0.58Disclosed price | — |
| 2025-09-09 | Frederick James Leslie BuntingDepot Corporation Limited
Details & evidence for Frederick James Leslie Bunting on 2025-09-09As disclosed: Participation in Share Purchase Plan (scaled back).
non_executive_director · Start not disclosed Change of Director's Interest Notices (x 5) ↗ | Subscriptionordinary | 8,706 | AUD 5,049.48 | AUD 0.58Disclosed price | — |
| 2025-09-09 | Peter Cook
Details & evidence for Peter Cook on 2025-09-09As disclosed: Participation in Share Purchase Plan (scaled back).
non_executive_director · Start not disclosed Change of Director's Interest Notices (x 5) ↗ | Subscriptionordinary | 8,706 | AUD 5,049.48 | AUD 0.58Disclosed price | — |
| 2025-03-19 | Peter CookAjava Holdings Pty Ltd
Details & evidence for Peter Cook on 2025-03-19As disclosed: On-market trades on 19, 20 and 21 March 2025.
non_executive_director · Start not disclosed Change of Director's Interest Notice - Cook ↗ | Purchaseordinary | 244,884 | AUD 140,740.00 | AUD 0.574721Calculated average | — |
| 2025-03-18 | Emma ScotneyWarialda Pty Ltd as trustee for the Sconti A/C
Details & evidence for Emma Scotney on 2025-03-18As disclosed: On-market trade through Warialda Pty Ltd as trustee for the Sconti A/C.
non_executive_director · Start not disclosed Change of Director's Interest Notice - Scotney ↗ | Purchaseordinary | 200,000 | AUD 112,791.00 | AUD 0.563955Calculated average | — |
| 2025-03-04 | Peter CookAjava Holdings Pty Ltd
Details & evidence for Peter Cook on 2025-03-04As disclosed: Exercise of 1,134,186 bonus options at $0.36 per share.
non_executive_director · Start not disclosed Change of Director's Interest Notice - Cook ↗ | Exerciseordinary | 1,134,186 | AUD 408,306.96 | AUD 0.36Disclosed price | — |
| 2025-02-24 | Damian Spring
Details & evidence for Damian Spring on 2025-02-24As disclosed: Exercise of 25,500 bonus options at $0.36 per share.
executive_director · Start not disclosed Change of Director's Interest Notice - Spring ↗ | Exerciseordinary | 25,500 | AUD 9,180.00 | AUD 0.36Disclosed price | — |
| 2025-02-24 | Frederick James Leslie BuntingDepot Corporation Limited
Details & evidence for Frederick James Leslie Bunting on 2025-02-24As disclosed: Exercise of 8,064,225 bonus options at $0.36 per share.
non_executive_director · Start not disclosed Change of Director's Interest Notice - Bunting ↗ | Exerciseordinary | 8,064,225 | AUD 2,903,121.00 | AUD 0.36Disclosed price | — |
| 2025-02-17 | Samuel Smith
Details & evidence for Samuel Smith on 2025-02-17As disclosed: Exercise of 2,622 bonus options at $0.36 per share.
executive_director · Start not disclosed Change of Director's Interest Notice - Smith ↗ | Exerciseordinary | 2,622 | AUD 943.92 | AUD 0.36Disclosed price | — |
| 2025-01-24 | Damian Spring
Details & evidence for Damian Spring on 2025-01-24As disclosed: Vesting of 141,360 performance rights into fully paid ordinary shares on satisfaction of vesting conditions; 141,360 rights disposed.
executive_director · Start not disclosed Change of Director's Interest Notice - Spring ↗ | Vestingperformance rights | 141,360 | —Not Disclosed | — | — |
| 2024-12-13 | Frederick James Leslie BuntingDepot Corporation Limited
Details & evidence for Frederick James Leslie Bunting on 2024-12-13As disclosed: On-market trade on 13 and 16 December 2024.
non_executive_director · Start not disclosed Change of Director's Interest Notices (x3) ↗ | Saleordinary | 100,000 | —Not Disclosed | NZD 0.518Disclosed price | — |
| 2024-12-13 | Peter Cook
Details & evidence for Peter Cook on 2024-12-13As disclosed: On-market trade.
non_executive_director · Start not disclosed Change of Director's Interest Notices (x3) ↗ | Purchaseordinary | 50,000 | —Not Disclosed | AUD 0.45Disclosed price | — |
| 2024-12-12 | Samuel Smith
Details & evidence for Samuel Smith on 2024-12-12As disclosed: On-market trade.
executive_director · Start not disclosed Change of Director's Interest Notices (x3) ↗ | Purchaseordinary | 109,890 | —Not Disclosed | AUD 0.45Disclosed price | — |
| 2024-08-19 | Frederick James Leslie BuntingDepot Corporation Limited
Details & evidence for Frederick James Leslie Bunting on 2024-08-19As disclosed: On market sale.
non_executive_director · Start not disclosed Change of Director's Interest Notice ↗ | Saleordinary | 40,000 | —Not Disclosed | AUD 1.57Disclosed price | — |
| 2024-05-29 | Samuel Smith
Details & evidence for Samuel Smith on 2024-05-29As disclosed: On market purchase.
executive_director · Start not disclosed Change of Director's Interest Notice - Smith ↗ | Purchaseordinary | 18,018 | —Not Disclosed | AUD 1.1Disclosed price | — |
| 2024-05-13 | Peter CookAjava Holdings Pty Ltd
Details & evidence for Peter Cook on 2024-05-13As disclosed: On market purchase in Ajava Holdings Pty Ltd.
non_executive_director · Start not disclosed Change of Director's Interest Notice - Cook ↗ | Purchaseordinary | 100,000 | AUD 110,000.00 | AUD 1.1Disclosed price | — |
| 2024-05-10 | Peter CookAjava Holdings Pty Ltd
Details & evidence for Peter Cook on 2024-05-10As disclosed: On market purchase in Ajava Holdings Pty Ltd.
non_executive_director · Start not disclosed Change of Director's Interest Notice - Cook ↗ | Purchaseordinary | 150,000 | AUD 166,500.00 | AUD 1.11Disclosed price | — |
| 2024-05-08 | Damian Spring
Details & evidence for Damian Spring on 2024-05-08As disclosed: On market purchase.
executive_director · Start not disclosed Change of Director's Interest Notice - Spring ↗ | Purchaseordinary | 10,000 | —Not Disclosed | AUD 1.09Disclosed price | — |
| 2024-05-06 | Samuel Smith
Details & evidence for Samuel Smith on 2024-05-06As disclosed: On market purchase.
executive_director · Start not disclosed Change of Director's Interest Notice - Smith ↗ | Purchaseordinary | 44,000 | —Not Disclosed | AUD 1.125Disclosed price | — |
| 2024-05-03 | Samuel Smith
Details & evidence for Samuel Smith on 2024-05-03As disclosed: On market purchase.
executive_director · Start not disclosed Change of Director's Interest Notice - Smith ↗ | Purchaseordinary | 27,000 | —Not Disclosed | AUD 1.145Disclosed price | — |
| 2024-05-02 | Peter CookAjava Holdings Pty Ltd
Details & evidence for Peter Cook on 2024-05-02As disclosed: On market purchases 2, 3 and 6 May 2024 in Ajava Holdings Pty Ltd.
non_executive_director · Start not disclosed Change of Director's Interest Notice - Cook ↗ | Purchaseordinary | 350,000 | AUD 399,244.50 | AUD 1.140699Calculated average | — |
| 2024-02-22 | Damian Spring
Details & evidence for Damian Spring on 2024-02-22As disclosed: On market purchase.
executive_director · Start not disclosed Change of Director's Interest Notice - Spring ↗ | Purchaseordinary | 5,000 | —Not Disclosed | AUD 1.1575Disclosed price | — |
| 2023-12-01 | Peter CookAjava Holdings Pty Ltd
Details & evidence for Peter Cook on 2023-12-01As disclosed: On market purchase in Ajava Holdings Pty Ltd.
non_executive_director · Start not disclosed Change of Director's Interest Notice - P Cook ↗ | Purchaseordinary | 44,308 | AUD 34,833.00 | AUD 0.786156Calculated average | — |
| 2023-10-23 | Peter CookAjava Holdings Pty Ltd
Details & evidence for Peter Cook on 2023-10-23As disclosed: On market purchase in Ajava Holdings Pty Ltd.
non_executive_director · Start not disclosed Change of Director Interest Notice - P Cook ↗ | Purchaseordinary | 62,020 | AUD 32,877.00 | AUD 0.530103Calculated average | — |
| 2023-06-16 | Anthony John McDonaldTrio Investments Pty Ltd
Details & evidence for Anthony John McDonald on 2023-06-16Appendix 3Y reports this director or related-entity account separately. As disclosed: Participation in Share Purchase Plan; 48,000 ordinary shares at $0.625 per share
former_director · Start not disclosed Change of Director's Interest Notice - McDonald ↗ | SubscriptionOrdinary fully paid shares | 48,000 | AUD 30,000.00 | AUD 0.625Disclosed price | — |
| 2023-06-16 | Anthony John McDonaldCompany Fifty Pty Ltd <McDonald Family A/C>
Details & evidence for Anthony John McDonald on 2023-06-16Appendix 3Y reports this director or related-entity account separately. As disclosed: Participation in Share Purchase Plan; 48,000 ordinary shares at $0.625 per share
former_director · Start not disclosed Change of Director's Interest Notice - McDonald ↗ | SubscriptionOrdinary fully paid shares | 48,000 | AUD 30,000.00 | AUD 0.625Disclosed price | — |
| 2023-06-16 | Anthony John McDonaldCompany Fifty Pty Ltd <McDonald Super Fund A/c>
Details & evidence for Anthony John McDonald on 2023-06-16Appendix 3Y reports this director or related-entity account separately. As disclosed: Participation in Share Purchase Plan; 48,000 ordinary shares at $0.625 per share
former_director · Start not disclosed Change of Director's Interest Notice - McDonald ↗ | SubscriptionOrdinary fully paid shares | 48,000 | AUD 30,000.00 | AUD 0.625Disclosed price | — |
| 2023-06-16 | Anthony John McDonaldAnthony John McDonald registered holding
Details & evidence for Anthony John McDonald on 2023-06-16Appendix 3Y reports this director or related-entity account separately. As disclosed: Participation in Share Purchase Plan; 48,000 ordinary shares at $0.625 per share
former_director · Start not disclosed Change of Director's Interest Notice - McDonald ↗ | SubscriptionOrdinary fully paid shares | 48,000 | AUD 30,000.00 | AUD 0.625Disclosed price | — |
| 2023-06-16 | Richard Edward KeeversRoslyn June Keevers
Details & evidence for Richard Edward Keevers on 2023-06-16Appendix 3Y reports this director/spouse account separately. As disclosed: Participation in Share Purchase Plan; 48,000 ordinary shares at $0.625 per share
former_director · Start not disclosed Change of Director's Interest Notice - Keevers ↗ | SubscriptionOrdinary fully paid shares | 48,000 | AUD 30,000.00 | AUD 0.625Disclosed price | — |
| 2023-06-16 | Richard Edward KeeversKeevers Superannuation Fund
Details & evidence for Richard Edward Keevers on 2023-06-16Appendix 3Y reports this director/spouse account separately. As disclosed: Participation in Share Purchase Plan; 48,000 ordinary shares at $0.625 per share
former_director · Start not disclosed Change of Director's Interest Notice - Keevers ↗ | SubscriptionOrdinary fully paid shares | 48,000 | AUD 30,000.00 | AUD 0.625Disclosed price | — |
| 2023-06-16 | Richard Edward KeeversRichard Edward Keevers registered holding
Details & evidence for Richard Edward Keevers on 2023-06-16Appendix 3Y reports this director/spouse account separately. As disclosed: Participation in Share Purchase Plan; 48,000 ordinary shares at $0.625 per share
former_director · Start not disclosed Change of Director's Interest Notice - Keevers ↗ | SubscriptionOrdinary fully paid shares | 48,000 | AUD 30,000.00 | AUD 0.625Disclosed price | — |
| 2023-06-16 | Warren David BattMustang Resources Limited
Details & evidence for Warren David Batt on 2023-06-16Registered holder Mustang Resources Limited; director disclosed beneficial ownership. As disclosed: Participation in Share Purchase Plan; 48,000 ordinary shares at $0.625 per share
former_director · Start not disclosed Change of Director's Interest Notice - Batt ↗ | SubscriptionOrdinary fully paid shares | 48,000 | AUD 30,000.00 | AUD 0.625Disclosed price | — |
| 2023-06-16 | Frederick James Leslie BuntingDepot Corporation Limited
Details & evidence for Frederick James Leslie Bunting on 2023-06-16Registered holder Depot Corporation Limited; director disclosed beneficial ownership. As disclosed: Participation in Share Purchase Plan; 48,000 ordinary shares at $0.625 per share
non_executive_director · Start not disclosed Change of Director's Interest Notice - Bunting ↗ | SubscriptionOrdinary fully paid shares | 48,000 | AUD 30,000.00 | AUD 0.625Disclosed 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 |
|---|---|---|---|---|
| 2026-07-20 | Frederick James Leslie Bunting
Details & evidence for Frederick James Leslie Bunting on 2026-07-20Appendix 3Z final notice reports 48,423,993 shares held by Depot Corporation Limited and 135,000 performance rights registered to the director at cessation; final position retained.
non_executive_director · Start not disclosed Annual Report to shareholders ↗ | PositionOrdinary shares | 48,423,993 | — |
| 2026-07-20 | Frederick James Leslie Bunting
Details & evidence for Frederick James Leslie Bunting on 2026-07-20Appendix 3Z final notice reports 45,000 rights in each of three tranches expiring 31 December 2026 at cessation.
non_executive_director · Start not disclosed Annual Report to shareholders ↗ | PositionPerformance rights | 135,000 | — |
| 2026-06-30 | Damian Spring
Details & evidence for Damian Spring on 2026-06-30Annual Report 2026 gives KMP aggregate (direct, indirect or beneficial) position at 30 June 2026; related entities included.
executive_director · Start not disclosed Annual Report to shareholders ↗ | PositionOrdinary shares | 3,343,506 | — |
| 2026-06-30 | Damian Spring
Details & evidence for Damian Spring on 2026-06-30Annual Report 2026 KMP performance-right movements table; rights at 30 June 2026.
executive_director · Start not disclosed Annual Report to shareholders ↗ | PositionPerformance rights | 540,000 | — |
| 2026-06-30 | Damian Spring
Details & evidence for Damian Spring on 2026-06-30Annual Report 2026 KMP option movements table; options at 30 June 2026.
executive_director · Start not disclosed Annual Report to shareholders ↗ | PositionUnlisted options | 339,807 | — |
| 2026-06-30 | Emma Scotney
Details & evidence for Emma Scotney on 2026-06-30Annual Report 2026 gives KMP aggregate (direct, indirect or beneficial) position at 30 June 2026; related entities included.
non_executive_director · Start not disclosed Annual Report to shareholders ↗ | PositionOrdinary shares | 436,426 | — |
| 2026-06-30 | Frederick James Leslie Bunting
Details & evidence for Frederick James Leslie Bunting on 2026-06-30Annual Report 2026 gives KMP aggregate (direct, indirect or beneficial) position at 30 June 2026; related entities included.
non_executive_director · Start not disclosed Annual Report to shareholders ↗ | PositionOrdinary shares | 48,423,993 | — |
| 2026-06-30 | Frederick James Leslie Bunting
Details & evidence for Frederick James Leslie Bunting on 2026-06-30Annual Report 2026 KMP performance-right movements table; rights at 30 June 2026.
non_executive_director · Start not disclosed Annual Report to shareholders ↗ | PositionPerformance rights | 135,000 | — |
| 2026-06-30 | Peter Cook
Details & evidence for Peter Cook on 2026-06-30Annual Report 2026 gives KMP aggregate (direct, indirect or beneficial) position at 30 June 2026; related entities included.
non_executive_director · Start not disclosed Annual Report to shareholders ↗ | PositionOrdinary shares | 9,847,537 | — |
| 2026-06-30 | Peter Cook
Details & evidence for Peter Cook on 2026-06-30Annual Report 2026 KMP performance-right movements table; rights at 30 June 2026.
non_executive_director · Start not disclosed Annual Report to shareholders ↗ | PositionPerformance rights | 135,000 | — |
| 2026-06-30 | Peter Cook
Details & evidence for Peter Cook on 2026-06-30Annual Report 2026 KMP option movements table; options at 30 June 2026.
non_executive_director · Start not disclosed Annual Report to shareholders ↗ | PositionUnlisted options | 4,500,000 | — |
| 2026-06-30 | Samuel Smith
Details & evidence for Samuel Smith on 2026-06-30Annual Report 2026 gives KMP aggregate (direct, indirect or beneficial) position at 30 June 2026; related entities included.
executive_director · Start not disclosed Annual Report to shareholders ↗ | PositionOrdinary shares | 1,621,815 | — |
| 2026-06-30 | Samuel Smith
Details & evidence for Samuel Smith on 2026-06-30Annual Report 2026 KMP performance-right movements table; rights at 30 June 2026.
executive_director · Start not disclosed Annual Report to shareholders ↗ | PositionPerformance rights | 450,000 | — |
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Sign in or enter a guest codeChronological evidenceSource-document inventory14 documents
Reference price SMI close 2 November 2026 (local ASX daily prices)Market Data · MediumMetadata Only
Latest eligible close A$0.435 on 2 November 2026 (fresh, 0 days), volume 1,151,218; provider market data provider via the local price database, one ASX ordinary share.
- Document ID
- reference_price_20261102
- Published UTC
- 2026-11-01T14:00:00Z
- Projects
- —
- Commodities
- gold
Market snapshot at cutoff 2 November 2026 (gold, FX, stock returns, liquidity)Commodity Data · MediumMetadata Only
Gold futures spot US$3,898.90/oz on 30 Oct 2026 (1-year average US$4,453.68, 1-year high US$5,318.40); AUD/USD implied 1.4236 A$ per US$; SMI 52-week range A$0.39-1.17; 20-day average traded value A$0.98m; no published peer rows share the commodity.
- Document ID
- market_snapshot_20261102
- Published UTC
- 2026-10-29T14:00:00Z
- Projects
- —
- Commodities
- gold
Appendix 2A: 4.5m options exercised and 345k performance rights vested, 22 October 2026Corporate Action · MediumPartial
Quotes 4,845,000 ordinary shares issued 22 October 2026 on option and performance-right exercise; issued capital after quotation 990,605,563 ordinary shares, 1,210,000 performance rights and 409,038 options exp. 11 Dec 2026.
- Document ID
- app_2a_october_2026
- Published UTC
- 2026-10-21T14:00:00Z
- Projects
- bendigo_ophir
- Commodities
- gold
Quarterly Activities and Appendix 5B, quarter to 30 September 2026Results · HighPartial
Cash A$179.7m at 30 September 2026 (A$175m net of payables); quarter operating inflow A$1.0m, investing outflow A$9.6m; FTA draft decision expected Nov/Dec 2026 and final decision 20 January 2027; restated BOGP resource and reserve tables; Snuol 34% free carried.
- Document ID
- quarterly_september_2026
- Published UTC
- 2026-10-15T14:00:00Z
- Projects
- bendigo_ophir · cambodia_snoul
- Commodities
- gold
Management assessment for SMI (local research product, reviewed to 9 October 2026)Governance · MediumMetadata Only
Local management review covering ten current managers and directors with the company website roster, the expert-panel process history and the CEO fast-track delay record; background checks are incomplete for person-specific records.
- Document ID
- management_assessment_smi
- Published UTC
- 2026-10-08T14:00:00Z
- Projects
- bendigo_ophir
- Commodities
- gold
Director and insider transactions for SMI, 2023 to 9 October 2026 (local insider database, partial)Governance · MediumMetadata Only
Partial record: 8 purchase events worth A$1.71m (including A$0.71m on-market buying by Ajava Holdings, linked to Peter Cook, 7-8 July 2026), placement and SPP participation in 2025-26, 2 sales in 2024 by a former director and no disposals since; reconciliation of older notices is pending.
- Document ID
- insider_dealings_smi
- Published UTC
- 2026-10-08T14:00:00Z
- Projects
- —
- Commodities
- gold
Ownership snapshot for SMI (local ownership file, reviewed to 9 October 2026)Governance · LowMetadata Only
No reliable ranked ordinary-shareholder register extracted; substantial-holder notices not exhaustively reconciled. The 2026 Annual Report shareholding section gives the distribution by size band only (727 holders above 100,000 shares holding 886.4m shares).
- Document ID
- ownership_register_smi
- Published UTC
- 2026-10-08T14:00:00Z
- Projects
- —
- Commodities
- gold
Annual Report 2026 (year to 30 June 2026)Results · HighPartial
FY2026 audited statements: loss A$1.41m, operating cash outflow A$2.27m, exploration and evaluation capitalised A$48.0m, cash A$188.3m at 30 June 2026; 985.76m shares at year-end; no dividends; Snuol 34% interest; commitments A$159.6m for land and royalty purchases.
- Document ID
- annual_report_2026
- Published UTC
- 2026-09-28T14:00:00Z
- Projects
- bendigo_ophir · cambodia_snoul
- Commodities
- gold
Completion of Tranche 2 Placement, 9 April 2026Financing · MediumPartial
Issued 18,930,718 shares at A$0.90 raising A$17.04m before costs; completes the A$130m placement announced 17 February 2026.
- Document ID
- tranche2_completion_2026
- Published UTC
- 2026-04-08T14:00:00Z
- Projects
- bendigo_ophir
- Commodities
- gold
A$130 million Placement and Share Purchase Plan, 17 February 2026Financing · HighPartial
Firm commitments for about 144.4m shares at A$0.90 (A$130m) in two tranches; tranche 1 about 125.5m shares within placement capacity; SPP at same price; management fee 2% and placement fee 3%; debt funding described as still being advanced.
- Document ID
- placement_a130m_2026
- Published UTC
- 2026-02-16T14:00:00Z
- Projects
- bendigo_ophir
- Commodities
- gold
Bendigo-Ophir Project Land Acquisition (Ardgour Station), 3 July 2025Transaction · HighPartial
Binding agreement for Ardgour Station freehold: NZ$25m staged consideration (NZ$2m deposit, NZ$5m in shares, NZ$18m cash), subject to OIO and FTA consents; nullifies a 1% gross royalty over about half of RAS.
- Document ID
- land_acquisition_2025
- Published UTC
- 2025-07-02T14:00:00Z
- Projects
- bendigo_ophir
- Commodities
- gold
Bendigo-Ophir Updated Pre-Feasibility Study, 1 July 2025Study · HighPartial
Updated PFS: NPV6.5 after tax A$1.52bn at A$4,950/oz and A$780m at A$3,500/oz base case; pre-production capital A$277m incl. 10% contingency; 1.248Moz over 13.8-year life; annual cash flow schedule (Table 24, p.36) used for the rebuild.
- Document ID
- updated_pfs_2025
- Published UTC
- 2025-06-30T14:00:00Z
- Projects
- bendigo_ophir
- Commodities
- gold
RAS Mineral Resource Estimate Review, 4 March 2025Resource Update · HighPartial
RAS Indicated and Inferred resource at March 2025 (0.5 g/t Au cut-off): RAS total 26.5Mt at 2.4 g/t for 2,080koz (page 7); open-pit 1,968koz plus underground about 112koz; upgrade of Indicated tonnes versus the prior estimate.
- Document ID
- mre_review_2025
- Published UTC
- 2025-03-03T14:00:00Z
- Projects
- bendigo_ophir
- Commodities
- gold
Bendigo-Ophir Gold Project Pre-Feasibility Study, 15 November 2024 (superseded)Study · MediumPartial
Superseded November 2024 PFS (1.5Mtpa SAG circuit, A$2,894/oz base case, 8% discount rate). Used only for the change table in the Updated PFS (page 2); its own economics are not relied on.
- Document ID
- pfs_2024_superseded
- Published UTC
- 2024-11-14T14:00:00Z
- Projects
- bendigo_ophir
- Commodities
- gold
Evidence facts11
188333447 AUD
2026-06-30985760563 shares
2026-06-30179689000 AUD
2026-09-301900000000 AUD
2026-10-16990605563 shares
2026-10-2218930718 shares
2026-04-090.9 AUD/share
2026-02-171521000000 AUD
2025-07-01780000000 AUD
2025-07-0125000000 NZD
2025-07-032080 koz
2025-03-31Conflicts requiring judgment1
- NPV6.5 after tax, Bendigo-Ophir (A$)
The published Updated PFS (1 July 2025) is the study of record: A$1.52bn at A$4,950/oz and A$780m at A$3,500/oz. The October 2026 quarterly cites A$1.9bn at about A$5,750/oz without a published cash-flow table, so it is not used as a study input; the cash-flow rebuild gives about A$1.87bn at A$5,750/oz with no delay, consistent with the company figure, and it is shown only as a cross-check.