OREMAVEN
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2026-11-06
◂ Monitor TOR ASX

Torque Metals Limited

Resource Stage · Gold · Australia · Canada · Finland · Sweden Rating locked: sign in to view v6.2
Last 2026-11-06
A$0.175
1D
—
1M
—
YTD
—
1Y
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Upside
Locked: sign in to view
Mkt cap
A$109.4M
EV
A$96.3M
Cash
A$13.6M
Debt
A$0
7 newer ASX announcements not yet reflected in this valuation

Funding, performance and ownership

Financials & Capital

As of 2026-06-30
Cash A$13.6M Finite
Debt A$0 Net cash A$13.6M
Basic shares 624.9M 2026-07-03
Runway 2.77 quarters June 2026 Appendix 5B item 8.7: A$13.559m available funding / A$4.887m quarterly relevant outgoings = 2.77 quarters; this mechanical rate is not forward guidance.

Liquidity

Financial position

The June Appendix 5B reports no drawn or unused financing facilities. A 25 September secondary account describes an auditor-highlighted material going-concern uncertainty in the FY2026 annual report, whose full filing was inaccessible; funding remains the central constraint.

Capital structure

Ownership and dilution

Ordinary shares
624.9M
Fully diluted
855.3M

The 3 July 2026 Appendix 3G confirms 624,928,499 ordinary shares. Fully diluted securities add 90,000,000 performance shares, 69,927,609 performance rights and 70,406,500 options, producing 855,262,608 on a simple all-securities basis. Conditional performance securities and unexercised options do not change the ordinary-share denominator until conversion or exercise.

Security classes7
ClassTypeQuantityStrikeExpiry
Unlisted performance shares with contingent conversion conditionsOther90M——
Unlisted performance rights, including 40.0m issued in May and 28.7m issued in July 2026Performance Right69.9M——
Unlisted options exercisable at A$0.60Option1.5MA$0.62026-12-06
Unlisted options exercisable at A$0.10Option20MA$0.12030-02-11
Unlisted options exercisable at A$0.15Option45MA$0.152030-01-31
Unlisted options exercisable at A$0.30Option2.6MA$0.32029-04-08
Unlisted options exercisable at A$0.18Option1.3MA$0.182026-11-14

KPI history

Operating metrics · Ritz Gold Project (formerly Paris Gold Project)

Other shown
01,196,4402,392,8803,589,3204,785,760March 2026: 4,273,000 AUD exploration and evaluation expenditureMarch 2026June 2026: 4,200,000 AUD exploration and evaluation expenditureJune 2026
MetricUnitTrendMarch 2026June 2026
OtherAUD exploration and evaluation expenditureMarch 2026: 4,273,000 AUD exploration and evaluation expenditureJune 2026: 4,200,000 AUD exploration and evaluation expenditure4,273,0004,200,000
Operating metric source table2
MetricProjectPeriodPeriod typeValueStatus
OtherParis GoldMarch 2026 quarterQuarter4,273,000 AUD exploration and evaluation expenditureReported
OtherParis GoldJune 2026 quarterQuarter4,200,000 AUD exploration and evaluation expenditureReported
Company guidance2
MetricProjectPeriodLowHighStatus
Growth And Discovery Drillingparis_gold12 months from July 202670,000— metresCurrent
Next Ritz Resource Updateparis_goldQ1 2027—— company-guided milestoneCurrent

Capital history

Capital events

3 events · newest first
DateEventAmountSharesPriceStatusTerms
2026-05-13Ann. 2026-03-11RaisingA$3M11.1M—Completed—
2025-12-31Ann. 2026-01-30RaisingA$15M——Completed—
2025-06-30Ann. 2025-09-30LeaseA$478.2K——Ongoing—

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 2026-09-25

Two continuing NSR burdens are disclosed in the 2025 annual report and 2024 tenement acquisition; the FY2026 annual report could not be extracted, so undisclosed later amendments cannot be ruled out. No live offtake, processing or hedges are established by accessible evidence.

Vendor retains 2% NSR on minerals extracted from the 2024 acquired gold and lithium tenements; allocation among current regional projects is not fully mapped.

Royalty · Active
Counterparties
Abeh Pty Ltd and related vendors
Applies to
New Dawn Lithium Project · Penzance Gold Project · Gold · Lithium
Economic direction
Burden
Period
From 2024-10-11; no end date stated
Key terms
Net smelter return royalty: 2 percent of minerals extracted
How it affects our valuation

No valuation treatment is available for this arrangement.

Additional Edleston ground is subject to a 2.5% NSR, with 0.5 percentage point repurchasable for CAD500,000; affected ounce allocation is not disclosed.

Royalty · Active
Counterparties
Vendors of additional Edleston ground
Applies to
Edleston Gold Project · Gold
Economic direction
Burden
Period
Dates not stated
Key terms
Net smelter return royalty: 2.5 percent of mineral-sale proceeds
Repurchase option: 500,000 CAD for 0.5 percentage point NSR
How it affects our valuation

No valuation treatment is available for this arrangement.