- Last 2026-11-06
- A$7.96
- 1D
- —
- 1M
- —
- YTD
- —
- 1Y
- —
- Fair value
- Locked: sign in to view
- Upside
- Locked: sign in to view
- Mkt cap
- A$591.9M
- EV
- A$479.7M
- Cash
- A$113.2M
- Debt
- A$0
Investment view
Rating locked: sign in to viewOur rating, thesis and what the price implies are available to subscribers.
Sign in or enter a guest codeAnnouncements
Latest 12 of 25All sources ▸- Becoming a substantial holder - State Street (30 October 2026)Governance
- September 2026 Quarterly Activities and Cash Flow ReportOperations
- Notice of Annual General Meeting (October 2026)Governance
- Application for quotation of securities (22 September 2026)Corporate Action
- 2026 Annual ReportResults
- Notification of cessation of securities (7 August 2026)Corporate Action
- Diggers & Dealers Mining Forum Presentation (August 2026)Presentation
- Notification regarding unquoted securities (31 July 2026)Corporate Action
- June 2026 Quarterly Activities and Cash Flow ReportOperations
- Application for quotation of securities (17 July 2026)Corporate Action
- March 2026 Quarterly Activities and Cash Flow ReportOperations
- Half Year Accounts (31 December 2025)Results
Event calendar · next 12 months
5 events| Timing | Event | Category | Confidence | Materiality | Investor relevance |
|---|---|---|---|---|---|
| Q4 CY2026 (company guided) | Luni Pre-Feasibility Study release | Study | Company Guided | High | First published capital and operating cost estimate, mine plan, product strategy and maiden Ore Reserve potential; the decisive input for the valuation range. |
| 18 November 2026, 10:00am AWST | Annual General Meeting | Governance | Confirmed | Medium | Remuneration report vote and re-election of Rhys Bradley; a strike would signal shareholder frustration with the PFS delay and the share-price fall. |
| Late January 2027 (inferred from prior reporting dates) | December 2026 quarterly activities and cash flow report | Results | Inferred | Medium | Cash after the PFS spend and the 2027 work programme and budget that follow the study. |
| By mid-March 2027 (inferred) | Half-year accounts to 31 December 2026 | Results | Inferred | Medium | Reviewed balance sheet and any post-PFS funding plan. |
| September 2027 (inferred) | FY27 annual report | Results | Inferred | Medium | Audited cash, the next resource statement and progress from PFS towards feasibility and approvals. |
Executive roster
As of 2026-10-31Background checks ▸Executive directors and company secretary from the 2026 Annual Report; general managers from the May 2026 presentation. The Project Director (David English) resigned effective 31 July 2026 and no replacement had been announced by the cutoff.
| Executive | Title | Normalized role | Appointed | Sources |
|---|---|---|---|---|
| Paul Savich | Managing Director | Chief Executive · Executive Director | 2021-02-09 | 2026 Annual Report |
| Thomas Lyons | Executive Director | Executive Director · Technical | 2023-03-01 | 2026 Annual Report · Appointment of Executive Director (February 2023) |
| Elizabeth Maynard | General Counsel & Company Secretary | Company Secretary · Commercial | 2025-06-02 | Appointment of General Counsel and Company Secretary (June 2025) · 2026 Annual Report |
| Tom Hunter | GM Corporate & Finance | Finance · Senior Management | — | Corporate Presentation - Luni Niobium Project (May 2026) |
| Emma Gaunt | GM Approvals & External Relations | Senior Management | — | Corporate Presentation - Luni Niobium Project (May 2026) |
devCoverage status: Partial
Portfolio detail
Assets
Core asset
Luni Niobium Project
AU
Resource-stage niobium carbonatite in the West Arunta, Western Australia (about 490 km south of Halls Creek); 100% owned; PFS targeted for Q4 CY2026; airstrip commissioned July 2026; Major Project Status awarded November 2025; mining lease M80/652 and miscellaneous licences under application.
- Contained metal (attributable)
- 2.2m td
- Resource grade
- 1.00% Nb2O5
- % Measured + Indicated
- 55.9%d
- Resource tonnes
- 220.00 Mt
- Our value per attrib. contained unit
- Locked
- Mining method
- Open pit
Project location
Approximate location
© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.
Resources & reserves6
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | Indicated | 93M t | 1.32% Nb2O5 | Others | 2026-05-13 |
| Mineral Resource | Inferred | 130M t | 0.7% Nb2O5 | Others | 2026-05-13 |
| Mineral Resource | Total (Indicated + Inferred) | 220M t | 1.0% Nb2O5 | Others | 2026-05-13 |
| Mineral Resource | Indicated (high-grade subset, 1.0% cut-off) | 35M t | 2.57% Nb2O5 | Others | 2026-05-13 |
| Mineral Resource | Inferred (high-grade subset, 1.0% cut-off) | 21M t | 2.0% Nb2O5 | Others | 2026-05-13 |
| Mineral Resource | Total high-grade subset (1.0% cut-off) | 56M t | 2.3% Nb2O5 | Others | 2026-05-13 |
Tenements9
Milestones7
- Maiden Mineral Resource 200 Mt at 1.0% Nb2O5
Achieved · High materiality
- First Indicated resource (73 Mt at 1.38% Nb2O5)
Achieved · High materiality
- Major Project Status from the Australian Government
Achieved · Medium materiality
- Updated MRE: Indicated 93 Mt at 1.32% Nb2O5
Achieved · High materiality
- Luni airstrip commissioned
Achieved · Low materiality
- Pre-Feasibility Study completion (originally an FY26 internal target)
Delayed · High materiality
- Measured resource in the eastern early-mining zone (for studies beyond the PFS)
Pending · Medium materiality
Permits & approvals4
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| Mining Entry Permits (Aboriginal Reserve 24923) and Consent to Mine for E80/5173 and E80/5656 | Western Australia | Granted | — | Yes |
| Mining lease M80/652 | Western Australia | Pending | — | Yes |
| Environmental assessment referral and approval | Western Australia / Commonwealth | Required | — | Yes |
| Native title / land access agreements (Negotiation Protocols in place with TTAC and PNAC) | Western Australia | Required | — | Yes |
Other
West Arunta regional exploration tenure (outside Luni)
AU
Large exploration package in Western Australia and the Northern Territory around Luni, including the P2 carbonatite discovered in 2022; desktop targeting and land-access engagement only in FY26 and the September 2026 quarter; several NT licences surrendered.
- Ownership
- 100%
- Commodity
- Nb2O5r
- Country
- AUr
- Best recent intercept (grade x width)
- —
- Metres drilled (12M)
- 0 md
- Exploration spend (12M)
- —
Project location
Approximate location
© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.
Tenements4
Other
Madura Project
AU
Three granted exploration licences about 430 km east of Kalgoorlie, held by WA1 Madura Holdings; no on-ground exploration while land access is negotiated.
- Ownership
- 100%
- Commodity
- Nb2O5r
- Country
- AUr
- Best recent intercept (grade x width)
- —
- Metres drilled (12M)
- 0 md
- Exploration spend (12M)
- —
Project location
Approximate location
© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.
Tenements3
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$113.2m and no debt fund the PFS and roughly two more years of pre-development work at the current rate (A$37m to A$55m a year of net outflow over the last four quarters). Construction of a large remote niobium operation will need a full project financing package (debt, equity and likely strategic or offtake partners) after the feasibility stage; no facility, offtake or strategic funding exists yet.
Capital structure
Ownership and dilution
- Ordinary shares
- 74.4M
- Fully diluted
- 74.8M
67,715,776 shares at 30 June 2025 + 5,882,353 placement shares at A$17 + 650,000 director options exercised at A$0.30 + 36,250 vested performance rights = 74,284,379 at 30 June 2026; + 60,000 (17 July 2026) + 10,000 (22 September 2026) performance-right conversions = 74,354,379. Performance rights: 500,750 at 30 June 2026 + 107,000 issued 31 July - 60,000 converted - 80,000 lapsed 7 August - 10,000 converted = 457,750. No options outstanding.
Security classes2
| Class | Type | Quantity | Strike | Expiry |
|---|---|---|---|---|
| Fully paid ordinary shares | Ordinary Share | 74.4M | — | — |
| Unquoted performance rights (WA1AH), nil exercise price, service vesting, expiries 2028-2031 | Performance Right | 457.8K | A$0 | 2031-07-01 |
Actuals and forecasts
Financial statements
| AUD | Unit | Trend | FY25AA | FY26AA |
|---|---|---|---|---|
| Profit and loss | ||||
| Revenue | AUDm | 0.0 | 0.0 | |
| Administration and corporate costs | AUDm | (5.6) | (6.4) | |
| Exploration expensed and impairment | AUDm | (1.6) | (0.5) | |
| Share-based payments | AUDm | (1.1) | (1.1) | |
| EBITDA | AUDm | (8.2) | (8.1) | |
| Depreciation and amortisation | AUDm | (0.1) | (0.4) | |
| Net interest income | AUDm | 3.5 | 4.6 | |
| Foreign exchange and other | AUDm | (0.0) | 0.0 | |
| Income tax | AUDm | 0.0 | 0.0 | |
| Net profit after tax | AUDm | (4.8) | (3.9) | |
| Cash flow | ||||
| Operating cash flow | AUDm | (2.1) | (1.7) | |
| Exploration and evaluation payments | AUDm | 29.2 | 34.5 | |
| Pre-development property, plant and equipment | AUDm | 0.0 | 6.8 | |
| Total capex | AUDm | 29.2 | 41.3 | |
| Free cash flow | AUDm | (31.3) | (43.0) | |
| Equity raised, net of costs | AUDm | 57.7 | 94.9 | |
| Other investing and financing flows | AUDm | (0.5) | (0.9) | |
| Net change in cash | AUDm | 25.9 | 51.0 | |
| Balance sheet | ||||
| Cash | AUDm | 72.8 | 123.8 | |
| Debt | AUDm | 0.0 | 0.0 | |
| Net debt (negative = net cash) | AUDm | (72.8) | (123.8) | |
| Total equity | AUDm | 125.9 | 218.1 | |
| Per share | ||||
| Shares at year end (forecast fully diluted) | m shares | 67.7 | 74.3 | |
| EPS on year-end shares | AUD/share | (0.07) | (0.05) | |
| Dividend per share | AUD/share | 0.00 | 0.00 | |
| Multiples and ratios | ||||
| EV / EBITDA (x, current EV) | x | (62.3) | (63.1) | |
| P / E (x, current market cap) | x | (129.4) | (159.9) | |
| FCF yield (current market cap) | % | -5.0% | -6.9% | |
| EBITDA margin | % | — | — | |
| Net debt / EBITDA (x) | x | 8.9 | 15.3 | |
KPI history
Operating metrics · Luni Niobium Project
| Metric | Unit | Trend | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|
| Exploration and evaluation payments | AUD | 10,152,000 | 13,386,000 | 5,665,000 | 5,316,000 | 10,654,000 | |
| Property, plant and equipment payments (pre-development) | AUD | 743,000 | 1,954,000 | 2,050,000 | 2,080,000 | 464,000 |
Operating metric source table22
| Metric | Project | Period | Period type | Value | Status |
|---|---|---|---|---|---|
| Cash and cash equivalents | Company | 30 Jun 2025 | Point In Time | 72,796,590 AUD | Reported |
| Cash and cash equivalents | Company | Sep 2025 quarter end | Point In Time | 154,630,000 AUD | Reported |
| Cash and cash equivalents | Company | Dec 2025 quarter end | Point In Time | 138,533,000 AUD | Reported |
| Cash and cash equivalents | Company | Mar 2026 quarter end | Point In Time | 131,477,000 AUD | Reported |
| Cash and cash equivalents | Company | 30 Jun 2026 | Point In Time | 123,799,311 AUD | Reported |
| Cash and cash equivalents | Company | Sep 2026 quarter end | Point In Time | 113,197,000 AUD | Reported |
| Exploration and evaluation payments | Luni | Sep 2025 quarter | Quarter | 10,152,000 AUD | Reported |
| Exploration and evaluation payments | Luni | Dec 2025 quarter | Quarter | 13,386,000 AUD | Reported |
| Exploration and evaluation payments | Luni | Mar 2026 quarter | Quarter | 5,665,000 AUD | Reported |
| Exploration and evaluation payments | Luni | Jun 2026 quarter | Quarter | 5,316,000 AUD | Reported |
| Exploration and evaluation payments | Luni | Sep 2026 quarter | Quarter | 10,654,000 AUD | Reported |
| Property, plant and equipment payments (pre-development) | Luni | Sep 2025 quarter | Quarter | 743,000 AUD | Reported |
| Property, plant and equipment payments (pre-development) | Luni | Dec 2025 quarter | Quarter | 1,954,000 AUD | Reported |
| Property, plant and equipment payments (pre-development) | Luni | Mar 2026 quarter | Quarter | 2,050,000 AUD | Reported |
| Property, plant and equipment payments (pre-development) | Luni | Jun 2026 quarter | Quarter | 2,080,000 AUD | Reported |
| Property, plant and equipment payments (pre-development) | Luni | Sep 2026 quarter | Quarter | 464,000 AUD | Reported |
| Loss after tax | Company | FY25 | Year | -4,801,980 AUD | Reported |
| Loss after tax | Company | FY26 | Year | -3,888,329 AUD | Reported |
| Beneficiation recovery, weighted average of four composites (open cycle, 44% Nb2O5 concentrate) | Luni | June 2026 testwork (four composites, weighted) | Point In Time | 54 % | Reported |
| Composite A concentrate grade (67% overall recovery, 3.7% Nb2O5 feed) | Luni | June 2026 testwork (Composite A) | Point In Time | 46 % Nb2O5 | Reported |
| Indicated contained Nb2O5 | Luni | June 2025 MRE | Point In Time | 1,000,000 t Nb2O5 | Reported |
| Indicated contained Nb2O5 | Luni | May 2026 MRE | Point In Time | 1,230,000 t Nb2O5 | Reported |
Company guidance1
| Metric | Project | Period | Low | High | Status |
|---|---|---|---|---|---|
| Pre Feasibility Study Completion | luni | Q4 CY2026 | — | — calendar quarter | Current |
Capital history
Capital events
| Date | Event | Amount | Shares | Price | Status | Terms |
|---|---|---|---|---|---|---|
| 2025-08-22Ann. 2025-08-15 | RaisingFully Paid Ordinary Shares | A$100M | 5.9M | A$17 | Completed | A$100m placement at A$17.00 (9.4% discount to the 5-day VWAP); Canaccord Genuity and Argonaut joint lead managers, Bell Potter co-manager.Max 5.9M |
| 2024-07-18Ann. 2024-07-11 | RaisingFully Paid Ordinary Shares | A$60M | 3.5M | A$17 | Completed | A$60m placement at A$17.00 (11.8% discount to the 10-day VWAP).Max 3.5M |
| 2024-01-25Ann. 2024-01-18 | RaisingFully Paid Ordinary Shares | A$40M | 4M | A$10 | Completed | A$40m placement at A$10.00 (5.5% discount to the 30-day VWAP).Max 4M |
| 2023-10-20Ann. 2023-09-01 | RaisingFully Paid Ordinary Shares | A$15M | 3M | A$5 | Completed | A$15m placement at A$5.00 in two tranches (tranche 2 approved at a general meeting).Max 3M |
| 2023-05-19Ann. 2023-05-11 | RaisingFully Paid Ordinary Shares | A$10M | 3.6M | A$2.75 | Completed | A$10m placement to Regal at A$2.75 (2% discount to the 5-day VWAP).Max 3.6M |
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.
No royalty, stream, offtake, tolling, joint venture, farm-in, partnership or hedge was found in the 2026 Annual Report, quarterlies or presentations. Negotiation Protocols with the native title holders are consultation frameworks without disclosed economic terms; the state royalty is statutory.
Intrinsic value
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
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
The selected 31 October 2026 roster contains five current executives, including the corporate-finance and approvals leaders added from the May 2026 issuer presentation. The new evidence supports relevant role backgrounds for Tom Hunter and Emma Gaunt, but does not document several prior employers, exact career dates or independently verified qualifications. The 28 October quarterly report reports completed 2026 field activities and a Q4 PFS target; it does not allocate project outcomes to individual executives. David English resigned as Project Director effective 31 July 2026, and no replacement was announced by the roster date, leaving a material project-leadership gap. The score is a sourced professional-fit assessment with limited personal attribution, not a trustworthiness rating.
Decision-relevant facts
Material summary
Paul Savich
Managing Director
Corporate role on Echo’s Bronzewing acquisition and Metaliko merger
WA1 annual reports say Savich served as Echo Resources General Manager – Corporate & Compliance and Company Secretary and oversaw the Bronzewing Gold Project acquisition and merger with Metaliko. This is issuer-reported; sources do not isolate his contribution or establish subsequent project economics/production.
Individual involvement documented · Source links his role with oversight, but not sole or causal responsibility.
Reward Minerals received an ASIC infringement notice during disclosed employment period
Reward’s contemporaneous release says ASIC alleged a continuous-disclosure contravention for 2–10 December 2013 and that Reward paid $33,000. The notice payment was expressly not an admission of guilt/liability. WA1’s annual report places Savich in a Reward corporate-development role, but reviewed records do not link him to the disclosure or notice. Employer-period event only.
Employer context; no individual link established · No individual responsibility established; no reviewed source links Savich to the disclosure decision.
Evidence gaps · 2
- Exact dates for several prior positions remain unavailable in reviewed primary sources.
- No comprehensive criminal, sanctions, litigation, safety, environmental or credential-register search was conducted; documented searches are not a clearance.
Thomas Lyons
Executive Director
Led Mackay Potash acquisition and advancement through feasibility and permitting
WA1 annual report says Lyons, as Agrimin Chief Development Officer, led Mackay Potash acquisition, exploration, feasibility and permitting. The source establishes the role attribution but no construction, commissioning, production or returns; this is not treated as operating delivery.
Individual involvement documented · Issuer attributes project work to Lyons; sole responsibility not established.
Tali leadership and disclosed substantial-shareholder relationship
WA1 reports Lyons as Tali MD, Tali as a 13% WA1 shareholder, and the Board considers Lyons non-independent. This is a disclosed governance context and potential conflict to manage; no breach is established.
Individual involvement documented · Issuer identifies the roles and non-independence; no misconduct finding.
Evidence gaps · 2
- Exact dates for several prior positions remain unavailable in reviewed primary sources.
- No comprehensive criminal, sanctions, litigation, safety, environmental or credential-register search was conducted; documented searches are not a clearance.
Elizabeth Maynard
General Counsel & Company Secretary
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 2
- Exact dates for several prior positions remain unavailable in reviewed primary sources.
- No comprehensive criminal, sanctions, litigation, safety, environmental or credential-register search was conducted; documented searches are not a clearance.
Tom Hunter
GM Corporate & Finance
WA1’s A$100 million institutional placement during finance-role overlap
WA1 announced an A$100 million placement at A$17 per share on 15 August 2025. An August 2025 issuer presentation lists Hunter as GM Corporate & Finance, and Canaccord Genuity later congratulated him with the WA1 team. This establishes role overlap and team recognition, not that he structured, led or caused the transaction; no source reviewed identifies his individual duties.
Role overlaps event; causation unproven · The issuer confirms the placement; Canaccord names Hunter among the WA1 team but does not assign him deal responsibility.
Evidence gaps · 4
- No exact start date for Hunter’s WA1 finance role or named prior employers were located in the sources reviewed.
- WA1 issuer material describes his CA background but no independent CA membership or degree verification was completed.
- The A$100 million placement overlaps his finance role and Canaccord names him among the company team, but his individual transaction duties remain undocumented.
- Criminal, sanctions, litigation, professional-register, safety and environment searches were scoped open-web checks, not comprehensive checks.
Emma Gaunt
GM Approvals & External Relations
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 4
- Exact effective date for the current General Manager role and exact appointment/departure dates for Appeals Convenor were not located.
- WA1 refers to prior approvals-management roles but does not name the employers or dates; education, qualifications and professional memberships were not found.
- Official Appeals Convenor reports document recommendations, not independent performance assessments; no personal delivery outcome for WA1 approvals work was established.
- Criminal, sanctions, litigation, professional-register, safety and environment searches were scoped open-web checks, not comprehensive checks.
Company ownership
Investors & shareholders
Top registered shareholders
Register at 2026-09-14 · 74,344,379 issued shares
| # | Investor / registered holder | % issued shares | Shares held |
|---|---|---|---|
| 1 | 11.37% | 8,450,000 | |
| 2 | 9.77% | 7,261,349 | |
| 3 | 8.31% | 6,178,644 | |
| 4 | 6.91% | 5,138,836 | |
| 5 | 5.11% | 3,799,523 | |
| 6 | 4.18% | 3,109,855 | |
| 7 | 4.02% | 2,991,666 | |
| 8 | 3.92% | 2,916,666 | |
| 9 | 3.81% | 2,833,333 | |
| 10 | 3.08% | 2,292,831 | |
| 11 | 2.71% | 2,015,655 | |
| 12 | 2.02% | 1,500,000 | |
| 13 | 1.88% | 1,399,840 | |
| 14 | 1.70% | 1,265,192 | |
| 15 | 1.61% | 1,200,000 | |
| 16 | 1.45% | 1,075,000 | |
| 17 | 0.95% | 704,567 | |
| 18 | 0.92% | 683,333 | |
| 19 | 0.88% | 652,500 | |
| 20 | 0.69% | 510,000 |
Disclosed substantial holders
Latest reviewed disclosure for each holder or reporting group
| Investor / reported group | Disclosed holding | Holding at |
|---|---|---|
| 11.84%Voting power | 2026-09-14 | |
| 8.03%Voting power | 2026-09-14 | |
| 7.55%Voting power | 2026-09-14 | |
| 6.43%Voting power | 2026-09-14 | |
| 5.60%Voting power | 2026-09-14 | |
| 5.00%Voting power | 2026-10-28 |
Sources & review notesEvidence checked through 2026-11-02
Coverage and limitations
- The register lists registered accounts and does not establish the beneficial owner of nominee/custodian positions.
- Substantial-holder groups overlap registered accounts; the register and group disclosures are separate views and must not be added together.
- The 30 October Form 603 reports a group relevant interest that includes investment-manager and securities-lending interests; it may overlap registered accounts and is not a beneficial-ownership allocation.
Sources
- 2026 Annual Report
WA1 Resources Ltd / ASX · Published 2026-09-18 · Accessed 2026-10-09
Complete 20-account ordinary-share register at 14 September 2026, issued-share count, quantities and percentages; summarizes five substantial-holder groups.
PDF pages 58-59 (printed pages 57-58), ASX Additional Information
- Becoming a substantial holder – State Street Corporation
Australian Securities Exchange (ASX) · Published 2026-10-30 · Accessed 2026-11-02
Initial substantial-holder notice: State Street Corporation and subsidiaries named in paragraph 7 reported 3,720,282 ordinary shares and 5.00% voting power from 28 October 2026. Filing describes investment-manager and securities-lending relevant interests.
PDF pages 1-2, Form 603 sections 1-7 (SHA-256 406eeb3091502879a7cc730861fd0bb9d9d8bcc9978a0dbfe6bce08f03da2945)
- Application for quotation of securities – WA1
WA1 Resources Ltd / ASX · Published 2026-09-22 · Accessed 2026-11-02
Reports 74,354,379 quoted ordinary shares following conversion of 10,000 performance rights; used as the latest reviewed issued-share basis after the 14 September register date.
PDF pages 1 and 6 (SHA-256 1a273c76c0fd776a0c8f7f5eb69997fed0671bb93a2e322994d8bb88e02681d7)
Disclosed activity
Insider transactions
Trading activity0 buys · 0 sells shownNet cash last 12 months no tradesShow chartHide chart
| Date | Person / account | Activity / security | Quantity | Cash consideration | Price | Holding after |
|---|---|---|---|---|---|---|
| 2026-07-31 | Elizabeth Maynard
Details & evidence for Elizabeth Maynard on 2026-07-31KMP grant; source identifies Elizabeth Maynard as registered holder. The balance of the 107,000 issue was for eligible employees but no other recipients are identified in this notice. As disclosed: Performance Rights issued to eligible employees under the Incentive Awards Plan; Elizabeth Maynard, registered holder, 20,000.
Management background report ↗ Notification regarding unquoted securities - WA1 ↗ | Grantperformance rights | 20,000 | —Not Disclosed | — | — |
| 2026-01-30 | Elizabeth Maynard
Details & evidence for Elizabeth Maynard on 2026-01-30KMP grant; the notice identifies Elizabeth Maynard as registered holder. As disclosed: Performance Rights issued to eligible employees under the Incentive Awards Plan; Elizabeth Maynard, registered holder, 10,000.
Management background report ↗ Notification regarding unquoted securities - WA1 ↗ | Grantperformance rights | 10,000 | —Not Disclosed | — | — |
| 2026-01-30 | David English
Details & evidence for David English on 2026-01-30KMP grant; the notice identifies David English as registered holder. As disclosed: Performance Rights issued to eligible employees under the Incentive Awards Plan; David English, registered holder, 25,000.
Notification regarding unquoted securities - WA1 ↗ | Grantperformance rights | 25,000 | —Not Disclosed | — | — |
| 2025-08-07 | Elizabeth Maynard
Details & evidence for Elizabeth Maynard on 2025-08-07KMP grant; the notice identifies Elizabeth Maynard as registered holder. The remaining 62,000 rights in the aggregate issue are not allocated to named recipients in this notice. As disclosed: Performance Rights issued to eligible employees under the Incentives Award Plan; Elizabeth Maynard, registered holder, 25,000.
Management background report ↗ Notification regarding unquoted securities - WA1 ↗ | Grantperformance rights | 25,000 | —Not Disclosed | — | — |
| 2025-07-10 | Thomas LyonsNerano Holdings Pty Ltd <Nerano Investment A/C>
Details & evidence for Thomas Lyons on 2025-07-10As disclosed: Exercise of unlisted options
director · Start not disclosed Nerano Holdings Pty Ltd <Nerano Investment A/C> · director and shareholder Nerano Holdings Pty Ltd <Nerano SF A/C> · director and shareholder Change of Director's Interest Notice ↗ | ExerciseFully paid ordinary shares | 650,000 | AUD 195,000.00 | AUD 0.3Calculated average | 2,833,333 |
| 2025-07-10 | Thomas LyonsNerano Holdings Pty Ltd <Nerano Investment A/C>
Details & evidence for Thomas Lyons on 2025-07-10As disclosed: Exercise of unlisted options
director · Start not disclosed Nerano Holdings Pty Ltd <Nerano Investment A/C> · director and shareholder Nerano Holdings Pty Ltd <Nerano SF A/C> · director and shareholder Change of Director's Interest Notice ↗ | ExerciseUnlisted options | 650,000 | —Non Cash | — | 0 |
| 2024-11-19 | David English
Details & evidence for David English on 2024-11-19KMP grant to the named registered holder. The other 37,000 rights in the aggregate issue are not allocated to named recipients in this notice. As disclosed: Performance Rights issued to eligible employees under the Incentives Award Plan; David English, registered holder, 50,000. Total issue: 87,000.
Notification regarding unquoted securities - WA1 ↗ | GrantWA1AH performance rights | 50,000 | —Not Disclosed | — | — |
| 2024-10-29 | Rhys BradleyRyecroft Holdings Pty Ltd <Ryecroft Investment Trust account>
Details & evidence for Rhys Bradley on 2024-10-29As disclosed: Exercise of unlisted options
director · Start not disclosed Ryecroft Investment Trust · beneficiary Ryecroft Holdings Pty Ltd <Ryecroft Investment Trust account> · director of trustee Florence Super Fund Trust · beneficiary Florence Super Pty Ltd <Florence Super Fund Trust account> · director of trustee Change of Director's Interest Notice ↗ | ExerciseFully paid ordinary shares | 650,000 | AUD 195,000.00 | AUD 0.3Calculated average | 4,066,666 |
| 2024-10-29 | Rhys BradleyRyecroft Holdings Pty Ltd <Ryecroft Investment Trust account>
Details & evidence for Rhys Bradley on 2024-10-29As disclosed: Exercise of unlisted options
director · Start not disclosed Ryecroft Investment Trust · beneficiary Ryecroft Holdings Pty Ltd <Ryecroft Investment Trust account> · director of trustee Florence Super Fund Trust · beneficiary Florence Super Pty Ltd <Florence Super Fund Trust account> · director of trustee Change of Director's Interest Notice ↗ | ExerciseUnlisted options | 650,000 | —Non Cash | — | 0 |
| 2024-10-29 | Paul SavichLucid Investments Group Pty Ltd <Lucid Investments Group Trust account>
Details & evidence for Paul Savich on 2024-10-29As disclosed: Exercise of unlisted options
director · Start not disclosed Lucid Investments Group Trust · beneficiary Lucid Investments Group Pty Ltd <Lucid Investments Group Trust account> · director of trustee Lucid Super Fund Trust · beneficiary and trustee Change of Director's Interest Notice ↗ | ExerciseFully paid ordinary shares | 1,500,000 | AUD 450,000.00 | AUD 0.3Calculated average | 4,416,666 |
| 2024-10-29 | Paul SavichLucid Investments Group Pty Ltd <Lucid Investments Group Trust account>
Details & evidence for Paul Savich on 2024-10-29As disclosed: Exercise of unlisted options
director · Start not disclosed Lucid Investments Group Trust · beneficiary Lucid Investments Group Pty Ltd <Lucid Investments Group Trust account> · director of trustee Lucid Super Fund Trust · beneficiary and trustee Change of Director's Interest Notice ↗ | ExerciseUnlisted options | 1,500,000 | —Non Cash | — | 0 |
| 2024-10-29 | Gary Lethridge
Details & evidence for Gary Lethridge on 2024-10-29As disclosed: Exercise of unlisted options
director · Start not disclosed former director · Start not disclosed to 2025-07-01 Change of Director's Interest Notice ↗ | ExerciseFully paid ordinary shares | 700,000 | AUD 210,000.00 | AUD 0.3Calculated average | 966,666 |
| 2024-10-29 | Gary Lethridge
Details & evidence for Gary Lethridge on 2024-10-29As disclosed: Exercise of unlisted options
director · Start not disclosed former director · Start not disclosed to 2025-07-01 Change of Director's Interest Notice ↗ | ExerciseUnlisted options | 700,000 | —Non Cash | — | 0 |
Disclosed holding observations24 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 |
|---|---|---|---|---|
| 2026-06-30 | Lee Bowers
Details & evidence for Lee Bowers on 2026-06-30Issuer-reported aggregate across direct, indirect and beneficial holdings, including related parties; 65,000 reconciles to the previously disclosed 45,000 direct, 10,000 Fivemark Capital and 10,000 spouse holdings.
director · 2024-12-02 Sharmini Bowers · spouse Fivemark Capital Pty Ltd · director and shareholder 2026 Annual Report ↗ | PositionFully paid ordinary shares | 65,000 | — |
| 2026-06-30 | Paul Savich
Details & evidence for Paul Savich on 2026-06-30Issuer-reported aggregate across direct, indirect and beneficial holdings, including related parties; underlying accounts are not itemized in this report.
director · Start not disclosed Lucid Investments Group Trust · beneficiary Lucid Investments Group Pty Ltd <Lucid Investments Group Trust account> · director of trustee Lucid Super Fund Trust · beneficiary and trustee 2026 Annual Report ↗ | PositionFully paid ordinary shares | 5,616,666 | — |
| 2026-06-30 | Rhys Bradley
Details & evidence for Rhys Bradley on 2026-06-30Issuer-reported aggregate across direct, indirect and beneficial holdings, including related parties; underlying accounts are not itemized in this report.
director · Start not disclosed Ryecroft Investment Trust · beneficiary Ryecroft Holdings Pty Ltd <Ryecroft Investment Trust account> · director of trustee Florence Super Fund Trust · beneficiary Florence Super Pty Ltd <Florence Super Fund Trust account> · director of trustee 2026 Annual Report ↗ | PositionFully paid ordinary shares | 4,166,666 | — |
| 2026-06-30 | Thomas Lyons
Details & evidence for Thomas Lyons on 2026-06-30Issuer-reported aggregate across direct, indirect and beneficial holdings, including related parties; 2,883,333 reconciles to the saved 2,833,333-share Nerano Investment position plus 50,000 shares in the Nerano SF account.
director · Start not disclosed Nerano Holdings Pty Ltd <Nerano Investment A/C> · director and shareholder Nerano Holdings Pty Ltd <Nerano SF A/C> · director and shareholder 2026 Annual Report ↗ | PositionFully paid ordinary shares | 2,883,333 | — |
| 2025-09-22 | Gary Lethridge
Details & evidence for Gary Lethridge on 2025-09-22Issuer-reported aggregate director relevant interest; underlying accounts are not itemized in this table.
director · Start not disclosed former director · Start not disclosed to 2025-07-01 2025 Annual Report ↗ | PositionFully paid ordinary shares | 966,666 | — |
| 2025-09-22 | Lee Bowers
Details & evidence for Lee Bowers on 2025-09-22Issuer-reported aggregate director relevant interest; underlying accounts are not itemized in this table.
director · 2024-12-02 Sharmini Bowers · spouse Fivemark Capital Pty Ltd · director and shareholder 2025 Annual Report ↗ | PositionFully paid ordinary shares | 65,000 | — |
| 2025-09-22 | Paul Savich
Details & evidence for Paul Savich on 2025-09-22Issuer-reported aggregate director relevant interest; underlying accounts are not itemized in this table.
director · Start not disclosed Lucid Investments Group Trust · beneficiary Lucid Investments Group Pty Ltd <Lucid Investments Group Trust account> · director of trustee Lucid Super Fund Trust · beneficiary and trustee 2025 Annual Report ↗ Change of Director's Interest Notice ↗ | PositionFully paid ordinary shares | 5,616,666 | — |
| 2025-09-22 | Rhys Bradley
Details & evidence for Rhys Bradley on 2025-09-22Issuer-reported aggregate director relevant interest; underlying accounts are not itemized in this table.
director · Start not disclosed Ryecroft Investment Trust · beneficiary Ryecroft Holdings Pty Ltd <Ryecroft Investment Trust account> · director of trustee Florence Super Fund Trust · beneficiary Florence Super Pty Ltd <Florence Super Fund Trust account> · director of trustee 2025 Annual Report ↗ Change of Director's Interest Notice ↗ | PositionFully paid ordinary shares | 4,166,666 | — |
| 2025-09-22 | Thomas Lyons
Details & evidence for Thomas Lyons on 2025-09-22Issuer-reported aggregate director relevant interest; underlying accounts are not itemized in this table.
director · Start not disclosed Nerano Holdings Pty Ltd <Nerano Investment A/C> · director and shareholder Nerano Holdings Pty Ltd <Nerano SF A/C> · director and shareholder 2025 Annual Report ↗ | PositionFully paid ordinary shares | 2,883,333 | — |
| 2025-07-10 | Thomas Lyons
Details & evidence for Thomas Lyons on 2025-07-10
director · Start not disclosed Nerano Holdings Pty Ltd <Nerano Investment A/C> · director and shareholder Nerano Holdings Pty Ltd <Nerano SF A/C> · director and shareholder Change of Director's Interest Notice ↗ | PositionFully paid ordinary shares | 50,000 | — |
| 2025-07-01 | Gary Lethridge
Details & evidence for Gary Lethridge on 2025-07-01
director · Start not disclosed former director · Start not disclosed to 2025-07-01 Final Director's Interest Notice ↗ | FinalFully paid ordinary shares | 966,666 | — |
| 2024-12-02 | Lee Bowers
Details & evidence for Lee Bowers on 2024-12-02
director · 2024-12-02 Sharmini Bowers · spouse Fivemark Capital Pty Ltd · director and shareholder Initial Director's Interest Notice ↗ | InitialFully paid ordinary shares | 45,000 | — |
| 2024-12-02 | Lee Bowers
Details & evidence for Lee Bowers on 2024-12-02
director · 2024-12-02 Sharmini Bowers · spouse Fivemark Capital Pty Ltd · director and shareholder Initial Director's Interest Notice ↗ | InitialFully paid ordinary shares | 10,000 | — |
| 2024-12-02 | Lee Bowers
Details & evidence for Lee Bowers on 2024-12-02
director · 2024-12-02 Sharmini Bowers · spouse Fivemark Capital Pty Ltd · director and shareholder Initial Director's Interest Notice ↗ | InitialFully paid ordinary shares | 10,000 | — |
| 2024-10-29 | Paul Savich
Details & evidence for Paul Savich on 2024-10-29
director · Start not disclosed Lucid Investments Group Trust · beneficiary Lucid Investments Group Pty Ltd <Lucid Investments Group Trust account> · director of trustee Lucid Super Fund Trust · beneficiary and trustee Change of Director's Interest Notice ↗ | PositionFully paid ordinary shares | 1,200,000 | — |
| 2024-10-29 | Rhys Bradley
Details & evidence for Rhys Bradley on 2024-10-29
director · Start not disclosed Ryecroft Investment Trust · beneficiary Ryecroft Holdings Pty Ltd <Ryecroft Investment Trust account> · director of trustee Florence Super Fund Trust · beneficiary Florence Super Pty Ltd <Florence Super Fund Trust account> · director of trustee Change of Director's Interest Notice ↗ | PositionFully paid ordinary shares | 100,000 | — |
| 2024-06-30 | Gary Lethridge
Details & evidence for Gary Lethridge on 2024-06-30Aggregate exercisable option holding; report does not allocate this director's total between the two grant cohorts. The reported $0.30 exercise price has no explicit currency code.
director · Start not disclosed former director · Start not disclosed to 2025-07-01 2024 Annual Report ↗ 2024 Annual Report ↗ | PositionDirector options, exercise price $0.30, expiry 1 November 2025 | 700,000 | — |
| 2024-06-30 | Gary Lethridge
Details & evidence for Gary Lethridge on 2024-06-30Issuer-reported KMP aggregate including related parties; direct, indirect or beneficial account breakdown is not provided. The table reports no purchases/acquisitions or sales/disposals during FY2024.
director · Start not disclosed former director · Start not disclosed to 2025-07-01 2024 Annual Report ↗ | PositionFully paid ordinary shares | 266,666 | — |
| 2024-06-30 | Paul Savich
Details & evidence for Paul Savich on 2024-06-30Aggregate exercisable option holding; report does not allocate this director's total between the two grant cohorts. The reported $0.30 exercise price has no explicit currency code.
director · Start not disclosed Lucid Investments Group Trust · beneficiary Lucid Investments Group Pty Ltd <Lucid Investments Group Trust account> · director of trustee Lucid Super Fund Trust · beneficiary and trustee 2024 Annual Report ↗ 2024 Annual Report ↗ | PositionDirector options, exercise price $0.30, expiry 1 November 2025 | 1,500,000 | — |
| 2024-06-30 | Paul Savich
Details & evidence for Paul Savich on 2024-06-30Issuer-reported KMP aggregate including related parties; direct, indirect or beneficial account breakdown is not provided. The table reports no purchases/acquisitions or sales/disposals during FY2024.
director · Start not disclosed Lucid Investments Group Trust · beneficiary Lucid Investments Group Pty Ltd <Lucid Investments Group Trust account> · director of trustee Lucid Super Fund Trust · beneficiary and trustee 2024 Annual Report ↗ | PositionFully paid ordinary shares | 4,116,666 | — |
| 2024-06-30 | Rhys Bradley
Details & evidence for Rhys Bradley on 2024-06-30Aggregate exercisable option holding; report does not allocate this director's total between the two grant cohorts. The reported $0.30 exercise price has no explicit currency code.
director · Start not disclosed Ryecroft Investment Trust · beneficiary Ryecroft Holdings Pty Ltd <Ryecroft Investment Trust account> · director of trustee Florence Super Fund Trust · beneficiary Florence Super Pty Ltd <Florence Super Fund Trust account> · director of trustee 2024 Annual Report ↗ 2024 Annual Report ↗ | PositionDirector options, exercise price $0.30, expiry 1 November 2025 | 650,000 | — |
| 2024-06-30 | Rhys Bradley
Details & evidence for Rhys Bradley on 2024-06-30Issuer-reported KMP aggregate including related parties; direct, indirect or beneficial account breakdown is not provided. The table reports no purchases/acquisitions or sales/disposals during FY2024.
director · Start not disclosed Ryecroft Investment Trust · beneficiary Ryecroft Holdings Pty Ltd <Ryecroft Investment Trust account> · director of trustee Florence Super Fund Trust · beneficiary Florence Super Pty Ltd <Florence Super Fund Trust account> · director of trustee 2024 Annual Report ↗ | PositionFully paid ordinary shares | 3,516,666 | — |
| 2024-06-30 | Thomas Lyons
Details & evidence for Thomas Lyons on 2024-06-30Aggregate exercisable option holding; report does not allocate this director's total between the two grant cohorts. The reported $0.30 exercise price has no explicit currency code.
director · Start not disclosed Nerano Holdings Pty Ltd <Nerano Investment A/C> · director and shareholder Nerano Holdings Pty Ltd <Nerano SF A/C> · director and shareholder 2024 Annual Report ↗ 2024 Annual Report ↗ | PositionDirector options, exercise price $0.30, expiry 1 November 2025 | 650,000 | — |
| 2024-06-30 | Thomas Lyons
Details & evidence for Thomas Lyons on 2024-06-30Issuer-reported KMP aggregate including related parties; direct, indirect or beneficial account breakdown is not provided. The table reports no purchases/acquisitions or sales/disposals during FY2024.
director · Start not disclosed Nerano Holdings Pty Ltd <Nerano Investment A/C> · director and shareholder Nerano Holdings Pty Ltd <Nerano SF A/C> · director and shareholder 2024 Annual Report ↗ | PositionFully paid ordinary shares | 2,233,333 | — |
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Sign in or enter a guest codeChronological evidenceSource-document inventory35 documents
Becoming a substantial holder - State Street (30 October 2026)Governance · LowExtracted
State Street Corporation group became a substantial holder on 28 October 2026 with 5.00% voting power, a material part of which is held through securities lending (lent, borrowed and collateral securities).
- Document ID
- sub-ssga-2026-10
- Published UTC
- 2026-10-30T08:51:12Z
- Projects
- —
- Commodities
- —
WA1 director dealings (local insider transactions database)Governance · LowExtracted
python -m miners.insider_transactions show WA1: only option exercises at A$0.30 (Savich 1.5m, Bradley 0.65m, Lethridge 0.7m in October 2024; Lyons 0.65m in July 2025). No on-market director purchases or sales are recorded in the database.
- Document ID
- insider-db-wa1
- Published UTC
- 2026-10-30T07:00:00Z
- Projects
- —
- Commodities
- —
WA1 closing price 30 October 2026 (local market database)Market Data · HighExtracted
Latest eligible close on or before the 31 October 2026 cutoff from python -m miners.reference_price WA1 --valuation-date 2026-10-31: A$8.36 on 30 October 2026 (open 9.00, high 9.28, low 8.22, volume 298,635), one ASX WA1 ordinary share, market data provider via miners.collect_stock_prices; fresh (1 day).
- Document ID
- price-wa1-20261030
- Published UTC
- 2026-10-30T05:10:00Z
- Projects
- —
- Commodities
- —
Market snapshot for WA1 at the 31 October 2026 cutoffMarket Data · MediumExtracted
Output of python -m miners.v8db.market_snapshot WA1 --cutoff 2026-10-31 --shares 74354379: close A$8.36, 52-week range A$7.63-19.77, returns 1m -18.3%, 3m -23.0%, 6m -45.1%, 12m -51.4%, 3y -1.5%; relative to the mining index 1m -8.1%, 3m -18.5%, 12m -60.3%, 3y -42.0%; 20-day average traded value A$3.93m (60-day A$2.75m); market cap A$621.6m; AUD per USD 1.4236. No niobium peer is held in the stock database.
- Document ID
- market-snapshot-20261031
- Published UTC
- 2026-10-30T07:00:00Z
- Projects
- —
- Commodities
- —
Niobium peer prices and share counts (local market database)Market Data · LowExtracted
Closes on 30 October 2026 and 12 months earlier from daily_stock_prices: ENR A$0.23 (A$0.495 on 31 Oct 2025), SGQ A$0.053 (A$0.105), GBE A$0.054 (A$0.049). Share counts derived from the asx_mining_companies table market capitalisation divided by price on 9 August 2026: ENR 572.4m, SGQ 4,639.1m, GBE 947.2m.
- Document ID
- peer-prices-20261030
- Published UTC
- 2026-10-30T07:00:00Z
- Projects
- —
- Commodities
- —
FNArena WA1 broker coverage pageOther · LowExtracted
FNArena stock page (prices to 29 October 2026): Bell Potter Speculative Buy, target A$27.20 (24 June 2026, raised from A$24.40), citing better-than-expected beneficiation and PFS on track for Q4 2026; Canaccord Genuity Buy, target A$34.00 (25 June 2026), now assuming 56% average recovery over the first 10 years. Both brokers were managers of the August 2025 placement.
- Document ID
- fnarena-wa1-broker-views
- Published UTC
- 2026-10-29T07:00:00Z
- Projects
- —
- Commodities
- —
September 2026 Quarterly Activities and Cash Flow ReportOperations · HighExtracted
Quarter to 30 September 2026. PFS on track for completion in Q4 CY2026; further resource-definition intercepts (for example LUDD-0162 21.4 m at 7.4% Nb2O5); airstrip commissioned in July; 2026 field season complete; no on-ground exploration at West Arunta regional or Madura. Cash A$113.2m; operating outflow A$1.75m, exploration and evaluation payments A$10.65m, R&D refund A$2.4m; no financing facilities; 9.13 quarters of funding on the Appendix 5B basis.
- Document ID
- q-2026-09
- Published UTC
- 2026-10-27T21:15:10Z
- Projects
- luni · west-arunta-ex-luni · madura
- Commodities
- others
Notice of Annual General Meeting (October 2026)Governance · LowExtracted
AGM at 10:00am AWST on 18 November 2026: adoption of the remuneration report and re-election of Rhys Bradley. No equity issue or incentive resolution.
- Document ID
- agm-notice-2026
- Published UTC
- 2026-10-15T02:28:43Z
- Projects
- —
- Commodities
- —
WA1 management assessment (local research product, 9 October 2026)Governance · LowExtracted
Local preliminary management background check (management/WA1/summary.md and background-check.json, cutoff 9 October 2026): confirms the roster (Savich, Lyons, Maynard) against issuer sources, records no supported adverse findings, and states the review is preliminary with low evidence confidence (score 49/100).
- Document ID
- mgmt-assessment-wa1
- Published UTC
- 2026-10-09T01:00:00Z
- Projects
- —
- Commodities
- —
WA1 investor register (local research product, 9 October 2026)Governance · LowExtracted
Local ownership file ownership/WA1/investors.json built from the 2026 Annual Report: top-20 register at 14 September 2026 (75.30% of 74,344,379 shares) and five substantial-holder groups; checked against the annual report pages.
- Document ID
- ownership-register-wa1
- Published UTC
- 2026-10-09T01:00:00Z
- Projects
- —
- Commodities
- —
Application for quotation of securities (22 September 2026)Corporate Action · LowExtracted
Quotation of 10,000 shares on conversion of vested performance rights; issued capital afterwards 74,354,379 ordinary shares and 457,750 performance rights.
- Document ID
- app2a-2026-09-22
- Published UTC
- 2026-09-22T09:12:41Z
- Projects
- —
- Commodities
- —
2026 Annual ReportResults · HighExtracted
Audited FY26 (year to 30 June 2026) accounts and review of operations. Loss after tax A$3.89m (FY25 A$4.80m); cash A$123.8m; no debt; exploration and evaluation asset A$90.5m after A$34.7m of additions; 74,284,379 shares at 30 June 2026. Restates the May 2026 Luni Mineral Resource (220 Mt at 1.0% Nb2O5; Indicated 93 Mt at 1.32%), beneficiation results (44% Nb2O5 concentrate at 54% weighted recovery, Composite A 46% at 67%), PFS target Q4 CY2026, Major Project Status (November 2025), board, remuneration (Project Director resigned effective 31 July 2026), top-20 register and substantial holders at 14 September 2026.
- Document ID
- ar-2026
- Published UTC
- 2026-09-18T06:09:24Z
- Projects
- luni · west-arunta-ex-luni · madura
- Commodities
- others
Notification of cessation of securities (7 August 2026)Corporate Action · LowExtracted
Lapse of 80,000 performance rights on the resignation of employees.
- Document ID
- app3h-2026-08-07
- Published UTC
- 2026-08-07T05:23:22Z
- Projects
- —
- Commodities
- —
Diggers & Dealers Mining Forum Presentation (August 2026)Presentation · MediumExtracted
Corporate presentation. Capital structure at 4 August 2026 (A$11.56, 74.3m shares, 0.5m performance rights, cash A$124m, EV A$735m), register composition, MRE and high-grade subset, existing producer flowsheets and recoveries (overall 30-70%), Luni flowsheet and composite results, niobium market (global FeNb ~118 ktpa at ~US$33,000/t; oxide ~18 ktpa at ~US$55,000/t; Brazil 86% of supply; CBMM utilisation and capacity), CBMM 2011 30% stake sale for US$3.75bn and a resource table of undeveloped niobium deposits.
- Document ID
- pres-2026-08
- Published UTC
- 2026-08-04T22:17:47Z
- Projects
- luni
- Commodities
- others
Notification regarding unquoted securities (31 July 2026)Corporate Action · LowExtracted
Issue of 107,000 performance rights under the employee incentive plan on 31 July 2026.
- Document ID
- app3g-2026-07-31
- Published UTC
- 2026-07-31T03:26:30Z
- Projects
- —
- Commodities
- —
June 2026 Quarterly Activities and Cash Flow ReportOperations · HighExtracted
Quarter to 30 June 2026. Reports the May 2026 MRE update (Indicated up 20 Mt to 93 Mt at 1.32% Nb2O5; 57% of contained niobium Indicated), scaled-up two-stage flotation results (weighted 44% Nb2O5 at 54% recovery; Composite A 46% at 67%), airstrip completion and cash of about A$123.8m.
- Document ID
- q-2026-06
- Published UTC
- 2026-07-29T22:25:09Z
- Projects
- luni
- Commodities
- others
Application for quotation of securities (17 July 2026)Corporate Action · LowExtracted
Quotation of 60,000 shares on conversion of performance rights (issue date 17 July 2026).
- Document ID
- app2a-2026-07-17
- Published UTC
- 2026-07-17T05:15:03Z
- Projects
- —
- Commodities
- —
Corporate Presentation - Luni Niobium Project (May 2026)Presentation · MediumExtracted
Canaccord Genuity conference presentation (May 2026). Leadership team (including GM Corporate & Finance Tom Hunter, GM Approvals & External Relations Emma Gaunt, Project Advisor Paul Goodchild), substantial institutions (Regal ~8%, Helikon ~7%, Datt Capital ~5%), evolution of the resource from 2025 to 2026, grade-tonnage curve and initial variability flotation results.
- Document ID
- pres-2026-05
- Published UTC
- 2026-05-19T22:00:00Z
- Projects
- luni
- Commodities
- others
March 2026 Quarterly Activities and Cash Flow ReportOperations · MediumExtracted
Quarter to 31 March 2026. Infill intercepts inside the Indicated envelope (for example LUDD-0182 9.4 m at 9.3% Nb2O5), aircore results extending mineralisation over 400 m east of the MRE envelope, all inputs received for the MRE update; cash A$131.5m.
- Document ID
- q-2026-03
- Published UTC
- 2026-04-26T22:17:53Z
- Projects
- luni
- Commodities
- others
Half Year Accounts (31 December 2025)Results · MediumExtracted
Reviewed half-year accounts to 31 December 2025: loss A$2.35m, cash A$138.5m, exploration and evaluation assets A$78.3m, equity A$219.3m, operating cash outflow A$2.64m and exploration payments A$23.5m in the half.
- Document ID
- hy-2026
- Published UTC
- 2026-03-11T06:50:47Z
- Projects
- luni
- Commodities
- others
USGS Mineral Commodity Summaries 2026 - Niobium (Columbium)Commodity Data · MediumExtracted
USGS commodity summary (February 2026): world mine production 112,000 t Nb in 2024 and 2025e (Brazil 104,000 t, Canada 6,000 t), reserves above 21 Mt; US ferroniobium average unit value US$26/kg in 2024 and 2025e (US$21/kg in 2021); Brazil about 93% of output; substitutes (Mo, V, Ta, Ti) at a performance or cost penalty; Nb2O5 is 69.904% Nb by weight.
- Document ID
- usgs-mcs-2026-niobium
- Published UTC
- 2026-02-05T14:00:00Z
- Projects
- —
- Commodities
- others
December 2025 Quarterly Activities and Cash Flow ReportOperations · MediumExtracted
Quarter to 31 December 2025. Infill intercepts including LUDD-0167 67.3 m at 5.4% Nb2O5 (incl. 30.0 m at 9.8%), 35,000 m drilled in 2025, bore installation and pump testing complete, Major Project Status awarded by the Australian Government; cash A$138.5m.
- Document ID
- q-2025-12
- Published UTC
- 2026-01-27T21:14:07Z
- Projects
- luni
- Commodities
- others
September 2025 Quarterly Activities and Cash Flow ReportOperations · MediumExtracted
Quarter to 30 September 2025. Proof-of-concept niobium oxide (96.8% Nb2O5), pre-development site works began, Ms Bozanic assumed the role of Non-Executive Chair, A$100m placement at A$17 completed; cash A$154.6m.
- Document ID
- q-2025-09
- Published UTC
- 2025-10-29T21:16:48Z
- Projects
- luni
- Commodities
- others
2025 Annual ReportResults · MediumExtracted
Audited FY25 annual report. Restates the June 2025 Luni Mineral Resource (Indicated 73 Mt at 1.38% Nb2O5 and Inferred 150 Mt at 0.8% for 220 Mt at 1.0%; high-grade subset 53 Mt at 2.2%), the FY25 metallurgy programme (refined concentrate 66.9% Nb2O5, first ferroniobium sample) and the July 2024 A$60m placement. Used for the resource history and prior-year context; FY25 financial comparatives are taken from the FY26 report.
- Document ID
- ar-2025
- Published UTC
- 2025-09-22T08:59:07Z
- Projects
- luni
- Commodities
- others
A$100 Million Placement (August 2025)Financing · HighExtracted
Firm commitments for a A$100m placement at A$17.00 per share (9.4% discount to the 5-day VWAP), about 5.9m new shares, for pre-development, permitting, testwork and supporting infrastructure. Canaccord Genuity and Argonaut were joint lead managers and Bell Potter co-manager.
- Document ID
- plc-2025-08
- Published UTC
- 2025-08-14T23:39:48Z
- Projects
- luni
- Commodities
- others
Appointment of General Counsel and Company Secretary (June 2025)Leadership · LowExtracted
Elizabeth Maynard appointed General Counsel and Company Secretary effective 2 June 2025, replacing Rhys Bradley as Company Secretary.
- Document ID
- gc-2025-06
- Published UTC
- 2025-06-01T22:19:56Z
- Projects
- —
- Commodities
- —
Board Changes (May 2025)Leadership · MediumExtracted
Appointment of Kathleen Bozanic (then IGO CFO) as independent Non-Executive Director; Gary Lethridge to retire as Chair effective 1 July 2025, when Ms Bozanic assumes the chair.
- Document ID
- board-2025-05
- Published UTC
- 2025-04-30T22:17:49Z
- Projects
- —
- Commodities
- —
2024 Annual ReportResults · MediumExtracted
FY24 annual report. Describes the 2022 discovery of the Luni and P2 carbonatites during the maiden West Arunta drilling programme and the maiden JORC Mineral Resource of 200 Mt at 1.0% Nb2O5 with a high-grade subset of 53 Mt at 2.1% Nb2O5 (July 2024). Used for asset history only.
- Document ID
- ar-2024
- Published UTC
- 2024-09-12T06:44:47Z
- Projects
- luni
- Commodities
- others
Institutional Placement (July 2024) - Appendix 3BFinancing · MediumExtracted
Proposed issue of about 3.53m shares at A$17.00 to raise A$60m (Appendix 3B accompanying the July 2024 placement announcement).
- Document ID
- plc-2024-07
- Published UTC
- 2024-07-10T23:41:56Z
- Projects
- luni
- Commodities
- others
A$60 Million Placement (July 2024)Financing · MediumExtracted
Firm commitments for a A$60m placement at A$17.00 per share (9.8% discount to the last price), about 3.5m new shares, taking shares on issue to about 64.9m.
- Document ID
- plc-2024-07-ann
- Published UTC
- 2024-07-10T23:41:21Z
- Projects
- luni
- Commodities
- others
A$40 Million Placement (January 2024)Financing · MediumExtracted
Firm commitments for a A$40m placement at A$10.00 per share (4.0m new shares), pro forma cash about A$56.7m.
- Document ID
- plc-2024-01
- Published UTC
- 2024-01-17T22:47:40Z
- Projects
- luni
- Commodities
- others
A$15 Million Placement (September 2023)Financing · MediumExtracted
A$15m placement at A$5.00 per share in two tranches (3.0m shares), taking shares on issue to about 56.7m.
- Document ID
- plc-2023-09
- Published UTC
- 2023-08-31T23:46:24Z
- Projects
- luni
- Commodities
- others
A$10 Million Placement (May 2023)Financing · MediumExtracted
A$10m placement at A$2.75 per share to Regal (about 3.6m shares), taking shares on issue to about 53.4m.
- Document ID
- plc-2023-05
- Published UTC
- 2023-05-10T23:49:12Z
- Projects
- luni
- Commodities
- others
Appointment of Executive Director (February 2023)Leadership · LowExtracted
Tom Lyons appointed Executive Director effective 1 March 2023; he was also Managing Director of Tali Resources, then a 17% shareholder.
- Document ID
- ed-2023-02
- Published UTC
- 2023-02-12T22:24:58Z
- Projects
- —
- Commodities
- —
IAMGOLD completes sale of Niobec for a total consideration of US$530 millionOther · LowExtracted
IAMGOLD sold the producing Niobec niobium mine (Quebec) to a Magris Resources-led group for US$530m: US$500m cash on closing plus US$30m contingent on the adjacent REE deposit entering production. Niobec is the only Canadian producer (about 6,000 t Nb in 2025 per USGS).
- Document ID
- niobec-sale-2015
- Published UTC
- 2015-01-22T14:00:00Z
- Projects
- —
- Commodities
- —
Evidence facts20
123799311 AUD
2026-06-30-3888329 AUD
2026-06-30-1679782 AUD
2026-06-30-34518768 AUD
2026-06-3074284379 shares
2026-06-3067715776 shares
2025-06-302200000 t Nb2O5
2026-05-131230000 t Nb2O5
2026-05-13940000 t Nb2O5
2026-05-1354 %
2026-06-2267 %
2026-06-22113197000 AUD
2026-09-30-10654000 AUD
2026-09-309.13 quarters
2026-09-3033000 USD/t FeNb
2026-06-3074354379 shares
2026-09-22457750 rights
2026-09-2226 USD/kg FeNb
2025-12-31112000 t Nb
2025-12-318.36 AUD/share
2026-10-30Conflicts requiring judgment1
- Date Kathleen Bozanic assumed the Non-Executive Chair
The FY26 directors report biography (p15) says 1 July 2026, but the May 2025 board-change release, the September 2025 quarterly and the FY26 review of operations (p12) all give 1 July 2025; the biography date is a typographical error.