202675 releases
Managements Discussion & Analysis (Sept Quarterly Report)
AuMEGA Metals' management's discussion and analysis for the quarter ended September 30, 2026 reports a third-quarter net loss of $4.4 million, against $2.2 million a year earlier, driven mainly by higher exploration spending. The company ended the quarter with cash of approximately $23.0 million and no debt. The filing also updates drilling at Cape Ray West, the Isle aux Morts Granite, Bunker Hill and the Intersection Project, where assays remain pending.
CorporateAppendix 5B Cash Flow Report 30 September 2026
AuMEGA Metals reported a quarterly cash flow report for the quarter ended 30 September 2026, showing net cash used in operating activities of CAD $3,669 thousand for the quarter and CAD $9,050 thousand year to date. Cash and cash equivalents at quarter end were CAD $23,012 thousand, and the company estimated 6.3 quarters of funding available.
CorporateInterim Financial Report - 30 September 2026
AuMEGA Metals reported an unaudited interim loss of $8,166,226 for the nine months ended 30 September 2026, compared with a restated loss of $8,200,114 for the same period in 2025. Cash and cash equivalents stood at $23,016,208 at period end, following share and warrant issues in March and April 2026. The company's exploration focus is in Newfoundland, Canada.
CorporateAAM Discovers 100.5g/t Gold Sample at Intersection Project
Rock chip and float sampling at the 100%-owned Intersection Project along the Cape Ray Shear Zone in southwest Newfoundland returned 100.5 g/t gold from a float sample, described as the second-highest grade gold sample collected across the company's Newfoundland portfolio, plus float samples of 23.8 g/t and 23.1 g/t gold. The 2026 program covered the eastern portion of the 169 km² project with till sampling on a 320 m by 80 m grid, infilled at 160 m by 80 m, and 56 grab samples; most assays remain pending.
Drill resultsNotification regarding unquoted securities - AAM
7,500,000 unquoted incentive stock options were issued on 1 October 2026, exercisable at CAD 0.04 and expiring 1 August 2031, convertible into ordinary fully paid shares on the TSXV. All were issued to key management personnel Rafael Gradim under the Omnibus Equity Incentive Plan in Canada approved at the AGM on 28 May 2026. AuMEGA has 1,455,807,299 quoted ordinary shares on issue.
NewsAAM Completes Initial Drilling at Isle aux Morts/CapeRayWest
Nine diamond drill holes totalling approximately 2,087 metres have been completed at the Isle aux Morts Granite and Cape Ray West along the Cape Ray Shear Zone in Newfoundland and Labrador, Canada, with assays pending and expected progressively over coming weeks. Seven holes tested the granite, including two extended to 351 metres and 372 metres, plus one extensional hole at Window Glass Hill and the first hole at Early Bird. The rig has moved to Bunker Hill, where drilling has commenced on three target areas, with a return to Cape Ray planned for mid-Q4 2026.
Drill resultsAuMEGA Metals Corporate Presentation - September 2026
A September 2026 corporate presentation covers the Cape Ray Gold Project in Newfoundland, Canada, with Mineral Resources of 450 koz Au Indicated (6.2 Mt @ 2.25 g/t) and 160 koz Au Inferred (3.5 Mt @ 1.44 g/t), reported 30 May 2023 at US$1,750/oz. Cash was C$27M at 30 June 2026, with a C$51M market capitalisation and C$24M enterprise value as at 17 September 2026. Diamond drilling is underway at Cape Ray West and the Isle aux Morts Granite, with Bunker Hill drilling and a resource corridor review planned.
CorporateApplication for quotation of securities - AAM
300,000 fully paid ordinary shares will be quoted on the ASX with an issue date of 7 September 2026, issued for nil cash consideration at an estimated value of $0.038 per security as the final issue of shares under an agreement, relating to a placement previously notified on 28 August 2023. Following quotation, AuMEGA Metals will have 1,455,807,299 quoted ordinary shares on issue.
FinancingHalf Yearly Report and Accounts
Interim results for the half-year ended 30 June 2026 show a loss after tax of $3,760,782 (30 June 2025: $5,983,235) and cash of $26,714,596 at period end, versus $4,015,004 at 31 December 2025. The company completed a $30.1 million financing in two tranches, tranche one closing 5 March 2026 for $5.4 million and tranche two on 15 April 2026 for $24.7 million, anchored by Condire Investors, LLC with B2Gold participating. Exploration and evaluation expenditure was $2,362,897 for the period, focused on the Cape Ray, Bunker Hill and Hermitage projects in Newfoundland, Canada; Rafael Gradim was appointed President effective 1 August 2026.
CorporateBecoming a substantial holder
Schroder Investment Management Australia Ltd and its related bodies corporate became a substantial holder in AuMega Metals Ltd on 14/08/2026, with a relevant interest in 75,939,070 ordinary shares, representing voting power of 5.22%. The interest is held through SIM LTD, with securities registered to J.P. Morgan SE, Luxembourg Branch. On 14/08/2026, SIM LTD acquired 50,000,000 ordinary shares for cash consideration of $2,000,000.
CorporateAppendix 5B Cash Flow Report 30 June 2026
Cash and cash equivalents stood at CAD$26,715,000 at 30 June 2026, up from CAD$6,205,000 the prior quarter, after CAD$24,485,000 in proceeds from equity issues less CAD$1,145,000 in related transaction costs during the quarter. Operating activities used CAD$2,634,000, including CAD$1,616,000 on exploration and evaluation, with CAD$206,000 spent on property, plant and equipment. Estimated quarters of funding available is 10.1, and payments to related parties totalled CAD$275,000.
CorporateManagements Discussion and Analysis (June Quarterly Report)
AuMEGA Metals reported a net loss of $2.4 million for the quarter ended June 30, 2026 and cash of $26.7 million, up from $4.1 million at December 31, 2025, after closing the second tranche of its financing in April for total gross proceeds of approximately C$30.1 million. Field crews mobilised in June at the Isle aux Morts Granite, Newfoundland, with drilling commencing after quarter end; Hermitage till sampling returned antimony up to 200 ppm over at least 620 metres. Rafael Gradim was appointed President effective 1 August 2026.
CorporateInterim Financial Report - 30 June 2026
A loss after income tax of $3,760,782 for the six months ended 30 June 2026 (restated prior period: $5,983,235), with net operating cash outflows of $5,227,351 and exploration and evaluation expenditure of $2,362,897 at the Cape Ray Project in Newfoundland, Canada. Cash and cash equivalents stood at $26,714,596 at 30 June 2026, up from $4,015,004 at 31 December 2025, after share and warrant issues raising $29,836,696. Of the $13,750,000 raised in 2026 flow-through placements, $1,600,000 had been spent, leaving about $12,150,000 to be spent by 31 December 2027.
CorporateAuMEGA Commences Inaugural Drilling Isle aux Morts Granite
Diamond drilling has begun as part of AuMEGA Metals' 2026 exploration program at the Isle aux Morts Granite and adjoining Cape Ray West targets along the Cape Ray Shear Zone in Newfoundland and Labrador, Canada. Neither area has previously been drilled, with targets defined from geological mapping, surface geochemistry, geophysics and structural interpretation. Drilling is expected to move to Bunker Hill later in the summer of 2026, once the initial program is complete and while assays are pending.
Drill resultsNotification of cessation of securities - AAM
A total of 5,704,545 unquoted options and 2,556,818 performance rights lapsed on 6 July 2026, comprising 4,000,000 options expiring 01-MAY-2030 at $0.059 and 1,704,545 options expiring 01-JAN-2030 at $0.059, cancelled unvested due to cessation of employment, with no consideration paid. Following the cessation, AuMEGA Metals has 1,455,507,299 quoted ordinary fully paid shares on issue.
CorporateChange of Director's Interest Notice - J.Osborne
Director Justin Osborne acquired an indirect interest in 535,713 unlisted stock options on 30 June 2026, issued via Janet Tunjic Pty Ltd (Tunoz Family A/C), with no consideration stated. The options are exercisable at $0.042 (AUD) and expire on 28/5/2031, and were issued following shareholder approval at the AGM held 28 May 2026. His indirect shareholdings remain unchanged at 920,870, 620,000 and 2,074,175 fully paid ordinary shares.
CorporateChange of Director's Interest Notice - S.Pazuki
Director Sam Pazuki acquired 3,850,000 unlisted 2026 LTIP stock options in AuMEGA Metals, exercisable at CAD$0.040 and expiring 28 May 2031, with the change effective 30 June 2026. In the same change, 1,474,568 performance rights (2023 LTIP) and 4,322,341 ZEPOs (2025 STIP) were cancelled. The options were approved by shareholders at the AGM held 28 May 2026.
CorporateChange of Director's Interest Notice - C.Marinkovich
A change in director Carol Marinkovich's indirect interest, dated 30 June 2026, involved the acquisition of 810,000 Unquoted 2026 STIP Options exercisable at $0.042 (AUD) expiring 28/5/2031, and the cancellation of 150,291 Unquoted 2023 LTIP Rights and 1,104,078 Unquoted 2025 STIP Options, for nil consideration. The securities are held by her husband, Graeme Marinkovich. The options were issued under shareholder approval at the AGM held 28 May 2026. Her holding of 865,385 ordinary fully paid shares was unchanged.
CorporateChange of Director's Interest Notice - J.Withall
Director James Carr Withall acquired 357,144 unlisted stock options exercisable at CAD$0.040 expiring 28 May 2031 and 1,051,402 unlisted zero exercise price options expiring 28 May 2029, effective 30 June 2026, for nil consideration. The issue was approved by shareholders at the AGM held 28 May 2026. He continues to hold 1,350,000 fully paid ordinary shares and 350,000 warrants.
CorporateChange of Director's Interest Notice - N.Adshead Bell
Director Nicole Adshead-Bell acquired an indirect interest in 357,144 unlisted TSXV stock options on 30 June 2026, held through Cupel Advisory Corp, for nil consideration. The options are exercisable at CAD$0.040 each and expire 28 May 2031, and were issued following shareholder approval at the AGM held 28 May 2026.
CorporateAuMEGA Metals Appoints Rafael Gradim as President
Rafael Gradim has been appointed President of AuMEGA Metals, effective 1 August 2026, replacing Michael Skead, who steps down immediately for personal reasons. Based in Toronto, Gradim will be accountable for all exploration activities across the Company's district-scale land package in Newfoundland and Labrador, Canada. A Professional Geologist with more than 22 years of experience, he previously held roles at Vale Base Metals, Resource Capital Funds, Eldorado Gold and Gold Fields Limited.
ManagementNotification regarding unquoted securities - AAM
An issue of unquoted long-term incentive options on 30 June 2026 under the employee incentive scheme: 4,564,288 Directors and 3,280,000 Staff options exercisable at CAD 0.04 (expiring 28 May 2031 and 1 January 2031), plus 1,345,713 Directors and 820,000 Staff options at AUD 0.042 with the same expiry dates. Director allocations include 3,850,000 to Sam Pazuki, 810,000 to Carol Marinkovich and 535,713 to Justin Osborne. Director grants were approved at the 28 May 2026 AGM.
NewsApplication for quotation of securities - AAM
Quotation has been applied for on ASX for 227,500 ordinary fully paid shares, issued 30 June 2026 on the exercise of nil-exercise-price employee options expiring 1 January 2030, which were exercised between 1 April 2026 and 30 June 2026. The shares were issued for nil cash consideration, with the value of consideration estimated at $0.032 per security. Following quotation, AuMEGA Metals will have 1,455,507,299 ordinary shares on issue.
FinancingNotification of cessation of securities - AAM
A total of 9,092,764 nil-exercise options expiring 01-JAN-2030, 92,297 options expiring 01-JAN-2030 exercisable at $0.059, and 2,051,718 performance rights ceased on 1/6/2026, with a further 92,297 performance rights ceasing on 20/4/2026, all due to vesting conditions not being satisfied. No consideration was paid. Following the cessation, AuMEGA Metals has 1,455,279,799 quoted ordinary fully paid shares on issue.
CorporateChange of Director's Interest Notice - J.Osborne
Director Justin Osborne exercised 824,175 vested unquoted options on a nil exercise price basis, acquiring 824,175 fully paid ordinary shares valued at $0.03 per share, with the change dated 12 June 2026. Holdings via Janet Tunjic Pty Ltd (Tunoz Family A/C) rose to 2,074,175 fully paid ordinary shares, alongside 920,870 shares held through Bond Street Custodians and 620,000 held by Janet Tunjic Pty Ltd. The trade did not occur in a closed period.
CorporateChange of Director's Interest Notice - N.Adshead-Bell
Director Nicole Adshead-Bell's interests changed on 12 June 2026 through the exercise of 415,512 vested options on a nil exercise price basis, resulting in the acquisition of 415,512 ordinary fully paid ASX shares at a value of AUD $0.03 per share. The shares are held indirectly through Cupel Advisory Corp, which after the change holds 414,512 ASX ordinary shares and 831,025 director options expiring 31/12/2029, alongside 2,180,000 TSXV shares and 1,000,000 TSXV warrants. Her direct holding remains 921,739 TSXV ordinary shares.
CorporateCorporate Presentation - June 2026
An updated corporate presentation for June 2026 sets out the Cape Ray Gold Project in Newfoundland, Canada, with Indicated Resources of 6.2 Mt @ 2.25 g/t Au for 450 koz and Inferred Resources of 3.5 Mt @ 1.44 g/t Au for 160 koz, calculated at US$1,750/oz. A fully funded ~10,000 metre drill program is planned, with up to 5,000m at Cape Ray West and Isle aux Morts Granite and up to 5,000m at Bunker Hill, plus relogging ahead of a potential resource update. Cash was C$29M at 30 April 2026 (unaudited), with a market capitalisation of C$51M at 1 June 2026.
CorporateApplication for quotation of securities - AAM
An application has been made for quotation of 1,239,687 ordinary fully paid AAM shares, issued 12 June 2026 following the cessation of transfer restrictions on securities previously issued under an employee incentive scheme. The total comprises 824,175 shares converted from AAMAK nil-exercise options expiring 1 August 2029 and 415,512 shares from Director Options, both for nil cash consideration valued at A$0.035 per security. Following quotation, AuMEGA Metals will have 1,455,279,799 ordinary shares on issue.
FinancingAuMEGA Commences Comprehensive 2026 Field Season
Field work has begun on AuMEGA's gold and critical minerals portfolio in southwestern Newfoundland and Labrador, Canada, after an extended winter delayed the start by one month. Early-season mapping and channel sampling will focus on the Isle aux Morts Granite in the Cape Ray district, with diamond drilling expected to commence in the coming weeks, weather dependent. Mapping and sampling at Bunker Hill along the Branch Fault Corridor is planned later in the summer, ahead of drilling expected in late summer.
Drill resultsResults of Annual General Meeting
All 16 resolutions were carried on a poll at the Annual General Meeting held 28 May 2026 in Port Aux Basque, Newfoundland, Canada. These included the adoption of the Remuneration Report (90.38% in favour), the election of Mr James Withall as a Director and re-election of Dr Nicole Adshead-Bell, Mr Justin Osborne, Mrs Carol Marinkovich and Mr Sam Pazuki, re-approval of the Omnibus Equity Incentive Plan, various equity incentive issues, approval of the auditor and the 7.1A mandate (97.56%).
CorporateChair's Address to Shareholders
The Chair's address to the 2026 Annual General Meeting reviewed 2025 exploration along the Cape Ray Shear Zone in Newfoundland and Labrador, including till geochemistry, mapping, airborne geophysics and drilling, with up to 30 people on site during the field season. Work at the Bunker Hill Project identified multiple structural corridors with gold and copper geochemical anomalies, and the Isle aux Morts Granite emerged as a priority target. In early 2026 the Company announced a C$30 million institutional financing anchored by Condire Investors, with participation from B2Gold.
CorporateCeasing to be a substantial holder - Precious Capital
Precious Capital Global Mining and Metals Fund, via LLB Swiss Investment AG, ceased to be a substantial holder in AuMEGA Metals Ltd on 22 May 2026. The change followed an on-market sale of 3,847,000 ordinary fully paid shares at CAD 0.0362 per share. The previous substantial holder notice was dated 23 September 2025.
CorporateAuMEGA Metals Announces Details for the 2026 AGM
The 2026 Annual General Meeting will be held in Newfoundland and Labrador, Canada on 28 May 2026, commencing at 10:00 a.m. Newfoundland Daylight Time / 8:30 a.m. Eastern Daylight Time / 8:30 p.m. Western Australia Standard Time. The meeting will be conducted as a hybrid meeting, allowing registered shareholders to attend in person or virtually via Microsoft Teams, with meeting ID 235 063 491 814 82 and passcode Cx3KG7jp.
CorporateManagements Discussion and Analysis (March Quarterly Report)
Quarterly results for the period ended March 31, 2026 show a net loss of $1.3 million, versus $2.9 million a year earlier, with exploration and evaluation expenditure of $0.7 million and a cash balance of approximately $6.2 million. The $30.1 million financing announced in February 2026 closed in two tranches, $5.4 million on 5 March 2026 and $24.7 million on 15 April 2026, with Condire Investors holding 19.9% of issued shares. Six drill holes totalling 1,476.17 metres at the Cape Ray electromagnetic anomaly in Newfoundland returned no significant results, and the Company exited its Blue Cove option agreement.
CorporateAppendix 5B Cash Flow Report 31 March 2026
Cash and cash equivalents stood at CAD$6.205 million at 31 March 2026, up from CAD$4.015 million at the start of the quarter. Operating activities used CAD$2.747 million, including CAD$2.159 million on exploration and evaluation, while financing activities provided CAD$4.845 million from CAD$5.352 million in equity issue proceeds less CAD$499,000 of transaction costs. Estimated quarters of funding available was 2.3. Payments to related parties totalled CAD$133,000 for director fees and the Managing Director's salary.
CorporateAuMEGA Metals Interim Financial Report - 31 March 2026
A net loss after tax of $1,333,378 (0.16 cents per share) was reported for the three months ended 31 March 2026, versus a restated $2,893,918 a year earlier, with exploration and evaluation expenditure of $692,593 at the Cape Ray Project in Newfoundland, Canada. Cash and cash equivalents were $6,204,948 at 31 March 2026, up from $4,015,004. The Company issued 98,376,589 flow-through units at C$0.0544 in March, and on 15 April 2026 reported a $30.1 million financing completed in two tranches.
CorporateAuMEGA Metals Provides Exploration Update
A fully funded 2026 exploration program of approximately 10,000 metres of diamond drilling is planned along the Cape Ray Shear Zone in Newfoundland, Canada, including up to 5,000 metres at Cape Ray West / Isle aux Morts Granite, where drilling will begin, and up to 5,000 metres at Bunker Hill, following a $30 million financing. At Hermitage, 891 till samples returned up to 200 ppm antimony over an anomaly of at least 620 metres, and peak gold values of 57.4 ppb. Six holes totalling 1,476.17 metres testing an electromagnetic anomaly returned no significant results, and the Blue Cove option agreement has been exited.
Drill resultsNotice of Annual General Meeting/Proxy Form
AuMEGA Metals will hold its Annual General Meeting at 10:00am (NDT) on Thursday, 28 May 2026 at 2-8 Water Street West, Channel-Port aux Basques, Newfoundland, Canada. Business includes the financial report for the year ended 31 December 2025, adoption of the Remuneration Report, election of James Withall and re-election of Nicole Adshead-Bell, Justin Osborne, Carol Marinkovich and Sam Pazuki as Directors, onboarding options (A$45,000) and shares (A$30,000) to Withall, re-approval of the Omnibus Equity Incentive Plan, LTI Options to directors, re-appointment of Grant Thornton Audit Pty Ltd, and a Listing Rule 7.1A 10% placement mandate.
CorporateChange in substantial holding - B2Gold
B2Gold Corp. increased its holding in AuMEGA Metals to 143,635,290 fully paid ordinary shares, or 9.88% voting power, from 78,010,290 shares (9.95%). The change followed the issue of 65,625,000 shares on 15 April 2026 under a private placement approved by AuMEGA shareholders on April 10, 2026. Canaccord Genuity Inc. will hold 112,625,000 of the shares on behalf of B2Gold once a four-month hold restriction lifts on August 16, 2026.
CorporateChange of Director's Interest Notice - J.Withall
Director James Carr Withall acquired 350,000 fully paid ordinary shares and 350,000 warrants at CAD$0.04 per share on 15 April 2026 (16 April 2026 AWST), through Tranche 2 of AuMEGA Metals' capital raising approved by shareholders on 10 April 2026. His direct holding increased from 1,000,000 to 1,350,000 fully paid ordinary shares (TSXV), plus 350,000 warrants.
CorporateChange of Director's Interest Notice - N.Adshead-Bell
Director Nicole Adshead-Bell acquired an indirect interest in 1,000,000 ordinary fully paid shares (TSXV) and 1,000,000 warrants (TSXV) through Cupel Advisory Corp at CAD $0.04 per share, dated 15/16 April 2026 (AWST). The purchase was made through Tranche 2 of the capital raising, approved by shareholders at the General Meeting held 10 April 2026. Her indirect holding now stands at 2,180,000 TSXV shares, 1,000,000 warrants and 1,246,537 director options expiring 31/12/2029, with direct holdings unchanged at 921,739 shares.
CorporateChange of Director's Interest Notice - S.Pazuki
Director Sam Pazuki acquired 851,064 fully paid ordinary shares (TSXV, restricted) at CAD $0.047 per share on 15/16 April 2026 through Tranche 2 of AuMEGA Metals' capital raising, approved by shareholders on 10 April 2026. The notice also records the cancellation of 1,474,568 unvested 2023 LTI Performance Rights expiring 1/1/2031 and 4,322,341 2025 STI ZEPOs expiring 1/1/2030, leaving 677,083 of the latter. Indirect holdings remain 2,117,679 shares.
CorporateChange in substantial holding - Condire
Condire Resource Master Partnership, LP increased its voting power in AuMEGA Metals from 11.1% (98,376,589 votes) to 19.9% (289,375,001 votes), with the change occurring on 14 April 2026. The increase came from the issue of 190,998,412 ordinary shares under tranche 2 of the company's placement, for consideration of C$7,639,936 in aggregate.
CorporateBecoming a substantial holder - Nokomis Capital
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CorporateBecoming a substantial holder
Franklin Resources, Inc. and its affiliates became a substantial holder in Aumega Metals Ltd on 15 April 2026, with a relevant interest in 118,527,330 ordinary shares, or 8.15% voting power based on 1,454,040,112 shares. Franklin Advisers, Inc. acquired 75,000,000 ordinary shares on 15 April 2026 for cash consideration of A$3,000,000. The shares are registered in the name of JP Morgan Chase Bank, N.A.
CorporateAuMEGA Metals Closes C$30.1 Million Financing
A ~C$30.1 million financing has closed in two tranches, with Tranche One raising about C$5.4 million on March 5, 2026 and Tranche Two about C$24.7 million after shareholder approval on April 10, 2026. It comprised 408,973,412 HD Units at C$0.04, 233,376,589 premium flow-through units at C$0.0544 and 22,127,660 flow-through shares at C$0.047, with warrants exercisable at C$0.055 for 30 months. New investors include Condire Investors (19.9%) and Nokomis Capital (9.2%); B2Gold holds 9.9%. Proceeds will fund drilling at Cape Ray, Cape Ray West and Bunker Hill in Newfoundland.
FinancingApplication for quotation of securities - AAM
Quotation is sought for 566,101,072 ordinary fully paid shares, issued 15 April 2026 under a placement previously notified in an Appendix 3B dated 25 February 2026 and approved by shareholders at a Special Meeting held 10 April 2026. The issue comprises 408,973,412 hard dollar units at CAD 0.04, 22,127,660 flow-through shares at CAD 0.047 and 135,000,000 premium flow-through shares at CAD 0.0544 on the TSXV, with warrants still to be issued. Quoted shares will total 1,454,040,112.
FinancingNotification regarding unquoted securities - AAM
543,973,412 unquoted premium flow-through offering warrants were issued on 15 April 2026, following shareholder approval at the special meeting held 10 April 2026. Each warrant entitles the holder to acquire one non-flow-through common share at C$0.055 on the TSXV. The issue relates to a placement previously notified in an Appendix 3B announced 25 February 2026, and takes total warrants of that class on issue to 642,350,001.
NewsAGM Key Dates & Director Nominations
The Annual General Meeting of AuMEGA Metals Ltd. will be held on Thursday, May 28, 2026 in North America, with a Notice of Meeting to be announced to ASX and provided to shareholders in late April 2026. Election of directors will be an item of business, and nominations must be received by 5:00pm (AWST) on 17 April 2026 at the Company's registered office at 24 Hasler Road, Osborne Park WA 6017, or by email.
CorporateAuMEGA Tranche 2 Offer Placement Prospectus
A prospectus dated 7 April 2026 was lodged for Tranche 2 of AuMEGA's previously announced C$30.1 million placement, offering 135,000,000 CF Units at C$0.0544 (A$0.0562) to raise about C$7,344,000 and 408,973,412 HD Units at C$0.040 (A$0.0413) to raise about C$16,358,936, plus a cleansing offer of up to 10,000 shares at C$0.047. Each Warrant is exercisable at C$0.055 until 5 September 2028. Issues require shareholder approval at the 10 April 2026 meeting; offers close 14 April 2026. Funds target exploration at Cape Ray, Cape Ray West and Bunker Hill in Newfoundland and Labrador.
FinancingBecoming a substantial holder - Condire
Condire Resource Master Partnership, LP became a substantial holder in AuMEGA Metals Ltd on 5 March 2026, holding 98,376,589 common shares representing 11.1% voting power. The shares were acquired on 5 March 2026 for cash consideration of C$5,351,686.44, with Citibank, Toronto as registered holder.
CorporateAnnual Report to shareholders
Fiscal 2025 annual report published for the year ended 31 December 2025, with a net loss after tax of $11,516,513 versus $8,279,214 in 2024 and a cash balance of approximately $4.1 million (A$4.5 million) at 31 December 2025. The Cape Ray project in Newfoundland and Labrador hosts indicated resources of 6.2 million tonnes at 2.25 g/t gold for 450,000 ounces and inferred 3.4 million tonnes at 1.44 g/t gold for 160,000 ounces. A $30.1 million financing was announced, with a first tranche of 98,376,589 PFT Units raising about $5.3 million closing 5 March 2026 and the second tranche subject to shareholder approval on 10 April 2026.
CorporateCorporate Governance Statement
A Corporate Governance Statement for the financial year ended 31 December 2025, accurate as at 31 March 2026 and approved by the Board on 30 March 2026, sets out AuMEGA Metals' compliance with the ASX Corporate Governance Council's Principles and Recommendations (4th Edition). The Company does not set or disclose measurable gender diversity objectives, has no separate risk committee and no internal audit function, citing its size. The Board comprises five directors, three of them independent non-executive, and the Company operates in Newfoundland, Canada.
CorporateManagements Discussion and Analysis 31 December 2025
AuMEGA Metals Ltd Management’s Discussion and Analysis For the year ended December 31, 2025 MANAGEMENT’S DISCUSSION AND ANALYSIS The following management’s discussion and analysis (“MD&A”) of AuMEGA Metals Ltd (“AuMEGA” or the “Company”)…
CorporateCeasing to be a substantial holder
Franklin Resources, Inc. and its affiliates ceased to be a substantial holder in AuMEGA Metals Ltd, with the change occurring on 6 March 2026. The issuance of 98,376,589 shares by AuMEGA Metals diluted Franklin's holding to below 5%. The previous substantial holder notice was dated 3 January 2025.
CorporateApplication for quotation of securities - AAM
98,376,589 ordinary fully paid shares, issued 6 March 2026 at CAD 0.05440000 per security as premium flow-through units issued on the TSXV, have been applied for quotation on the ASX. The issue forms part of a placement previously notified in an Appendix 3B dated 25 February 2026, with warrants and Tranche 2 shares still to be issued. Following quotation, AuMEGA Metals will have 887,939,040 ordinary fully paid shares on issue.
FinancingNotification regarding unquoted securities - AAM
98,376,589 unquoted warrants were issued on 6 March 2026 as a new class of security, each entitling the holder to acquire one non-flow-through common share at C$0.055 for a period of 30 months from closing. The warrants relate to a placement previously notified to ASX on 25 February 2026, with tranche 2 shares still to be issued subject to shareholder approval on 10 April 2026. AuMEGA Metals has 789,562,451 ordinary fully paid shares quoted.
CorporateCorporate Presentation - March 2026 Reissued
AuMEGA Metals has reissued its March 2026 Corporate Presentation, originally released 2 March 2026, with pages 6 and 26 removed. The peer comparison on those pages was not in accordance with ASX peer comparison guide Listed@ASX Compliance Update #08/18 and #08/24, and investors should not rely on the retracted information when making decisions in AuMEGA. The updated presentation was authorised for release by the Managing Director.
CorporateAuMEGA Tranche One Closing
The first tranche of an upsized brokered private placement has closed, with 98,376,589 Premium Flow-Through Units issued at C$0.0544 per unit for gross proceeds of approximately C$5.35 million; each unit includes one flow-through share and one warrant exercisable at C$0.055 for 30 months. Tranche Two, of up to about C$24.7 million in units and flow-through shares, requires shareholder approval at a special meeting on 10 April 2026 (Australia). Condire will hold approximately 11.1% of shares, rising to 19.9% after Tranche Two.
FinancingNotice of Special Meeting and Proxy Form
A special meeting of AuMEGA Metals shareholders will be held at 9:00am (AWST) on Friday, 10 April 2026 at the Forrest Centre, Perth, with proxies due by 9:00am (AWST) on 8 April 2026. Sixteen resolutions seek ratification of Tranche One securities and approval for Tranche Two of the previously announced C$30.1 million private placement, totalling 664,477,660 shares and 642,350,000 warrants, including subscriptions by Condire, B2Gold, Franklin and directors. Proceeds are earmarked for exploration in Newfoundland and Labrador.
CorporateAuMEGA Tranche 1 CF Offer Placement Prospectus
A prospectus dated 3 March 2026 offers 98,376,589 CF Units (each comprising one CF Share and one Warrant) at C$0.0544 per unit to Canadian charity investors, raising approximately C$5,351,686 before costs, plus a cleansing offer of up to 10,000 Shares at C$0.0544 to raise up to C$544. Each Warrant is exercisable at C$0.055 for 30 months from the Tranche One closing date. This is Tranche One of a previously announced C$30.1 million financing; proceeds will fund exploration in Newfoundland and Labrador, including the Cape Ray, Cape Ray West and Bunker Hill projects. The offers close 5 March 2026.
FinancingCorporate Presentation - March 2026
A March 2026 corporate presentation for the Newfoundland gold portfolio reports Cape Ray Mineral Resources of 6.2 Mt at 2.25 g/t for 450 koz Au indicated and 3.5 Mt at 1.4 g/t for 160 koz Au inferred, based on US$1,750/oz gold, plus a 110 km+ land position on the Valentine belt. A private placement was upsized to approximately C$30.1 million at C$0.062 blended pricing, with Condire Investors to hold 19.9% and B2Gold 9.9%; tranche 2 requires shareholder approval expected early April 2026. Assays from December 2025 Cape Ray drilling and the 2025 Hermitage geochemical program were pending.
CorporateAuMEGA Provides Update on Recent $30M Financing Announcement
The previously announced oversubscribed financing for aggregate gross proceeds of approximately C$30.1 million, led by anchor investor Condire Investors, LLC, has been adjusted in its two-tranche structure, with no additional commitments accepted. It comprises up to 408,973,412 hard dollar units at C$0.04, 233,376,589 premium flow-through units at C$0.0544 and 22,127,660 flow-through shares at C$0.047, with warrants exercisable at C$0.055 for 30 months. Tranche One of 98,376,589 PFT Units is expected to close on or about 5 March 2026; Tranche Two requires shareholder approval at a meeting expected in the first week of April 2026.
FinancingUpdate - Proposed issue of securities - AAM
AuMEGA Metals has revised the two-tranche structure of its previously announced placement, now comprising 408,973,412 shares at C$0.04 with attaching warrants, 233,376,589 premium flow-through shares at C$0.0544 with attaching warrants, and 22,127,660 shares at C$0.047. All warrants expire three years from Tranche 1 closing and are exercisable at C$0.055, with Tranche 2 requiring shareholder approval, estimated 2 April 2026, and the proposed issue date 5 March 2026. Proceeds will fund an expanded exploration program in Newfoundland, Canada, including drilling at Cape Ray, Cape Ray West and Bunker Hill.
FinancingAuMEGA Announces Oversubscribed Financing
An upsized institutional financing for aggregate gross proceeds of approximately C$30.1 million has been agreed, comprising up to C$16.35 million of hard dollar units at C$0.04, about C$12.71 million of premium flow-through units at C$0.0544 (a 36% premium) and C$1 million of flow-through shares at C$0.047, with each unit including one warrant exercisable at C$0.055 for 30 months. Condire Investors, LLC anchored the raise and will hold about 19.9% on a non-diluted basis, while B2Gold Corp. maintains 9.9%.
FinancingProposed issue of securities - AAM
A placement of 662,276,596 ordinary shares is proposed for issue on 5 March 2026, comprising 407,356,205 shares at C$0.04, 233,643,795 premium flow-through shares at C$0.0544 and 21,276,596 shares at C$0.047, with 407,356,205 hard dollar warrants and 233,643,795 premium flow-through warrants attaching, each exercisable at C$0.055 and expiring three years from Tranche 1 closing. Tranche 2 requires shareholder approval, estimated 2 April 2026. Proceeds are expected to fund an expanded exploration program in Newfoundland, Canada, including the largest planned drill campaign across Cape Ray, Cape Ray West and Bunker Hill. Clarus Securities and Canaccord Genuity are co-lead agents.
FinancingReinstatement to Quotation
Trading in Aumega Metals Ltd (ASX: AAM) securities will be reinstated, with the suspension lifted immediately following AAM's release of an announcement on the finalisation of its capital raising agreements. The market announcement was issued by ASX Compliance on 18 February 2026.
CorporateSuspension from Quotation
AuMEGA Metals' securities were suspended from quotation on the ASX immediately under Listing Rule 17.2 at the company's request, following a trading halt effective 13 February 2026. The company said it needs more time to finalise capital raising agreements, with demand exceeding expectations and the inclusion of a major new investor requiring a restructuring of the raise. The suspension is requested until the later of an announcement completing the raise and the commencement of trading on Thursday, 19 February 2026.
CorporateAuMEGA Metals Announces Brokered LIFE Offering of up to C$10
A best efforts brokered private placement for aggregate gross proceeds of up to C$10,000,000 has been launched under the listed issuer financing exemption, with Clarus Securities Inc. as lead agent and sole bookrunner. The offering comprises up to 42,553,191 flow-through shares at C$0.0470, 55,147,059 charity flow-through shares at C$0.0544 and 125,000,000 common shares at C$0.040, with agents receiving a 6.0% cash commission. Closing is expected on or about March 3, 2026 (Canada) / March 4, 2026 (Australia), with proceeds funding a drill program of up to 15,000 metres in Newfoundland and Labrador.
FinancingRequest for Trading Halt
A trading halt has been requested on AuMEGA Metals Limited securities pre-market Friday, 13 February 2026, pending an announcement regarding a capital raising. The Company asked that the halt be lifted on the earlier of the commencement of normal trading on Tuesday, 17 February 2026 or the release of the anticipated announcement. The request was made under ASX Listing Rule 17.1.
NewsAuMEGA Provides Strategic Update on Cape Ray District Growth
A strategic update on the Cape Ray Project in southwestern Newfoundland reiterates the 2023 mineral resource of 6.2 Mt at 2.25 g/t gold for 450,000 indicated ounces and 3.4 Mt at 1.44 g/t gold for 160,000 inferred ounces, estimated using a US$1,750/oz gold price. AuMEGA is assessing a resource update incorporating higher gold prices, additional drilling, re-logging of historic core, revised interpretation and silver. Priority Cape Ray West and Isle aux Morts Granite targets are planned for diamond drilling in the spring/summer 2026 field season.
CorporateQuarterly Activities/Appendix 5B Cash Flow Report
Six diamond holes totalling 1,476.17 metres were completed during the December 2025 quarter testing a large airborne EM conductor about 500 metres southeast of the Central Zone at the Cape Ray project in Newfoundland and Labrador, with assays pending. Till geochemistry at Bunker Hill (2,812 samples from 3,301 stations) defined a new multi-kilometre gold trend along the Branch Fault Corridor, and the 16 square kilometre Isle aux Morts Granite was elevated to a priority target. Cash was approximately $4.1 million at 31 December 2025, down from $6.3 million, with exploration spend of $1.5 million for the quarter.
CorporateAuMEGA Advances Isle aux Mort Granite as Top Priority Target
Multi-element till geochemistry results over the 16 square kilometre Isle aux Morts Granite at Cape Ray West, part of a 110-kilometre landholding on the Cape Ray Shear Zone in southwestern Newfoundland, have elevated the intrusion to a priority drill target for 2026. A total of 439 till samples on a 160 metre by 80 metre grid defined gold-in-till anomalies coincident with copper, molybdenum and bismuth, including a two-kilometre Western Corridor and four central targets, with seven targets now defined. Assays from Cape Ray drilling and the Hermitage survey are expected in the first quarter of 2026.
CorporateApplication for quotation of securities - AAM
412,088 ordinary fully paid shares will be quoted on the ASX under code AAM, issued on 9 January 2026 on the exercise of nil-exercise-price options expiring 1 September 2029. The options were granted under the Employee Incentive Plan approved by shareholders at the AGM held 28 November 2022 and were exercised by a former Non-Executive Director for nil cash consideration, valued at an estimated $0.04 per security. Total shares on issue will be 789,562,451.
FinancingAuMEGA Identifies Several Gold and Base Metals Targets
The 2025 till geochemistry and geological mapping program at the Bunker Hill Project on the Cape Ray Shear Zone in southwestern Newfoundland defined a multi-kilometre gold trend along the Branch Fault Corridor, where three historical drill holes and a nearby intercept of 1.84 g/t gold over one metre exist. The program comprised 2,812 samples over 3,301 stations. Elevated copper, lead, zinc and silver at Nitty Gritty, plus re-logging identifying previously unrecognised intrusions, and target zones at Bunker Hill West were also outlined, with diamond drilling planned for summer 2026.
Drill results
202572 releases
Change in substantial holding - B2 Gold
B2Gold Corp. increased its holding in AuMEGA Metals to 78,010,290 fully paid ordinary shares, or 9.95% voting power, up from 51,010,290 shares (9.94%) in its previous notice dated 28 December 2023. The change followed the issue of 27,000,000 shares for C$1,350,000 on 10 December 2024 under tranche 2 of the placement announced on 22 October 2024 and approved by shareholders on 4 December 2024, and dilution from tranche 1's 131,152,889 shares.
CorporateChange of Director's Interest Notice - N.Adshead-Bell
Director Nicole Adshead-Bell acquired an indirect interest in 300,000 AuMEGA Metals ordinary fully paid shares (TSXV) through an on-market purchase on 10 December 2025 at CAD $0.0416 per share. The holding by Cupel Advisory Corp rose to 1,180,000 TSXV shares, alongside her direct holding of 921,739 shares and 1,246,537 director options expiring 31/12/2029.
CorporateChange of Director's Interest Notice - J.Osborne
Director Justin Osborne acquired 1,000,000 fully paid ordinary shares of AuMEGA Metals on 10 December 2025 via an on-market purchase at $0.037 per share, held indirectly through Janet Tunjic Pty Ltd . Following the change, his indirect holdings total 2,790,870 fully paid ordinary shares and 824,175 unquoted options (vested). Prior written clearance was provided on 9 December 2025.
CorporateChange of Director's Interest Notice - N.Adshead Bell
Director Nicole Adshead-Bell acquired an indirect interest in 200,000 ordinary fully paid shares (TSXV) through an on-market purchase on 5 December 2025 at CAD $0.045 per share. Following the change, her indirect holding via Cupel Advisory Corp is 880,000 ordinary shares (TSXV) plus 1,246,537 director options expiring 31/12/2029, with a direct holding of 921,739 shares.
CorporateChange of Director's Interest Notice - S.Pazuki
Director Sam Pazuki acquired 350,000 fully paid ordinary shares of AuMEGA Metals via an on-market purchase on 4 December 2025 at $0.0363 (AUD) per share. The shares were held indirectly through HSBC Custody Nominees (Australia) Limited, taking his total indirect holding to 2,117,679 fully paid ordinary shares, alongside 5,598,336 directly held shares and various unquoted options and performance rights. Prior written clearance was provided on 25 November 2025.
CorporateAuMEGA Metals Announces Capital Market Changes
Effective 15 December 2025, AuMEGA Metals will change its registry and transfer agent to Computershare Investor Services Pty Limited in Perth for the ASX and Computershare Investor Services Inc. in Vancouver for the TSXV, replacing Automic Registry Services and Odyssey Trust Company. The Company has also retained Renmark Financial Communications Inc. for investor relations services at a cash fee of up to C$9,000 per month for seven months commencing 1 December 2025.
CorporateChange of Director's Interest Notice - J.Withall
Director James Carr Withall acquired 500,000 fully paid ordinary shares (TSXV) in AuMEGA Metals Ltd on 3 December 2025 via on-market purchase at $0.04 (CAD) per share. His direct holding increased from 500,000 to 1,000,000 fully paid ordinary shares. Prior written clearance for the trade was provided on 2 December 2025.
CorporateChange of Director's Interest Notice - S.Pazuki
Director Sam Pazuki acquired 957,583 fully paid ordinary shares of AuMEGA Metals on 1 December 2025 through on-market purchases, comprising 294,583 shares on the ASX at $0.0372 (AUD) per share and 663,000 shares on the TSXV at an average of $0.0388 (CAD) per share. Following the change, his direct holding is 5,598,336 fully paid ordinary shares, with indirect holdings of 673,096 shares (BNP Paribas) and 1,094,583 shares (HSBC Custody Nominees). Prior written clearance was provided on 25 November 2025.
CorporateFinal Director's Interest Notice - K.Sparkes
Kerry Elwyn Sparkes ceased to be a director of AuMEGA Metals Limited on 30 November 2025. At the time of cessation, he held 200,000 ordinary fully paid shares (TSXV) and 412,088 unquoted options as registered holder, with no indirect interests or contract interests disclosed. The previous notice was dated 16 December 2024.
CorporateAuMEGA Metals Expands Drill Program
A second diamond drill rig has been mobilised to expand drilling at the Major EM anomaly on the Cape Ray Gold Project in Newfoundland and Labrador, Canada. The airborne EM conductor measures approximately 500 metres by 1,000 metres, is open along strike, sits 500 metres southeast of the Central Zone deposits in its immediate hangingwall, and has not previously been drill tested. Drilling will continue for the next few weeks before the winter break, with assays pending from Bunker Hill, Cape Ray, Isle aux Morts Granite and Hermitage.
Drill resultsUpdated Corporate Presentation - November 2025
A corrected version of the Corporate Presentation – November 2025, originally released 18 November 2025, has been reissued with pages 28, 35 and 36 removed because the peer comparison they contained did not comply with ASX guidance Listed@ASX Compliance Update #08/18 and #08/24. Investors are told not to rely on the retracted information. The updated presentation was authorised for release by the Managing Director.
CorporateUpdated Appendix 3H and Appendix 2A
An administrative discrepancy in the total number of AAM shares shown on the ASX platform is being rectified, arising from the October 2024 flow-through financing that carried a four-month hold period without an ASX waiver in place. The Company will lodge an Appendix 3H to cancel 182,899,666 unlisted TSXV shares (ASX: AAMAT) and an Appendix 2A to list them, bringing total securities on issue to 789,150,363 from 606,250,697.
CorporateNotification of cessation of securities - AAM
182,899,666 shares under ASX code AAMAT (SHARES – TSX-V) ceased on 21 November 2025, as they were incorrectly issued to that code and will be reissued as AAM shares per an Appendix 2A of the same date. No consideration is being paid for the cessation. Following the change, AuMEGA Metals has 606,250,697 quoted ordinary fully paid shares and nil AAMAT securities on issue.
CorporateApplication for quotation of securities - AAM
An application has been lodged for the quotation on ASX of 182,899,666 ordinary fully paid shares under code AAM, with an issue date of 21 November 2025. The shares comprise tranches previously issued on the TSXV at CAD 0.06825, CAD 0.06 and CAD 0.05 per security, and are being re-issued after earlier advice that they be quoted under code AAMAT via an Appendix 3G was found to be incorrect. Following quotation, AAM will have 789,150,363 shares on issue.
FinancingCorporate Presentation - November 2025
A November 2025 corporate presentation covering the Newfoundland gold portfolio was released. It states Cape Ray mineral resources of 6.2 Mt at 2.25 g/t for 450 koz Au indicated and 3.5 Mt at 1.4 g/t for 160 koz Au inferred, a land package covering 110 km+ of prospective structures, and diamond drilling underway on a 500 m by 1,000 m EM anomaly southeast of the Central Zone. Capital structure shows 789M shares, C$6.3M cash and a C$32M market capitalisation. Bunker Hill till assays are expected Q4/25 and Hermitage results Q1/26.
CorporateAuMEGA Commences Diamond Drilling on Major Target at CapeRay
Diamond drilling has begun at the Cape Ray Project in Newfoundland and Labrador, Canada, testing a previously undrilled airborne electromagnetic conductor measuring approximately 500 metres by 1,000 metres and open along strike, located 500 metres southeast of the Central Zone deposits. The fully funded program starts with one diamond rig, with the option to add a second. Results from a recently completed till geochemical survey over the Isle aux Morts Granite are expected in the near term.
Drill resultsAAMAnnounces Technical Committee and Board Member Retirement
A Technical Committee of the Board has been established to oversee exploration programs across the Company's land position in Newfoundland and Labrador, Canada, comprising at least three Directors and acting as a liaison with key strategic shareholders. Director Kerry Sparkes will retire from the Board effective 30 November 2025; he joined as a technical advisor in June 2021, was appointed to the Board in September 2022, and most recently chaired the Remuneration and Nomination Committee.
ManagementQuarterly Activities/Appendix 5B Cash Flow Report
Quarterly results for the period ended 30 September 2025 report a cash balance of approximately C$6.3 million, down from C$9.2 million at the end of the prior quarter, with exploration and evaluation spend of $2.5 million. At the Cape Ray Project in Newfoundland and Labrador, a completed 2,559.7-metre, nine-hole diamond program returned 1.85 g/t gold over 13.5 metres, including 4.79 g/t over 0.85 metres from 340.5 metres, in hole CRD412. An airborne EM survey identified an untested anomaly 500 metres southeast of Central Zone, and Cape Ray West till sampling returned a peak 402 ppb gold. Drilling of new targets is planned for the fourth quarter of 2025.
CorporateManagements Discussion and Analysis - 30 September 2025
Cash of $6.3 million at 30 September 2025 was reported, down from $15.7 million at 31 December 2024, with a net loss of $0.7 million for the quarter and $1.7 million for the nine months. Third-quarter work at the Cape Ray Project in Newfoundland included a 930 line-kilometre airborne EM survey that identified an anomaly 1,000 m along strike and 500 m wide located 500 m southeast of Central Zone, a 2,559.7 m nine-hole diamond drill program returning 1.85 g/t gold over 13.5 m from 340.5 m in CRD412, and a Cape Ray West till survey of 1,082 samples peaking at 402 ppb gold.
CorporateInterim Financial Report - 30 September 2025
Unaudited interim results for the nine months ended 30 September 2025 show a loss after income tax of $1,703,549 (versus $2,600,850 a year earlier), operating cash outflow of $1,552,301 and exploration and evaluation payments of $7,770,262. Cash and cash equivalents were $6,277,430 at 30 September 2025, down from $15,726,784 at 31 December 2024, with exploration and evaluation assets of $57,998,183 and net assets of $53,045,507. The accounts, covering gold exploration in Newfoundland, Canada, were prepared on a going concern basis.
CorporateAuMEGA Defines New Multi-Kilometre Gold Corridor at Cape Ray
Till geochemistry at Cape Ray West, part of the 100%-owned Cape Ray Gold Project in southwestern Newfoundland, defined three gold-in-till anomalies extending up to about three kilometres in strike, with peak values of 402 ppb, 118 ppb and 113 ppb gold, along the western contact of the never-drill-tested Isle aux Morts Granite. Further till sampling and mapping is complete with assays pending, and fully funded drilling is planned for Q4 2025.
Drill resultsAuMEGA Identifies Major New Anomaly at the Cape Ray Project
A July 2025 airborne time domain EM survey covering 930 line-kilometres at the Cape Ray Project in Newfoundland and Labrador, Canada, identified a new untested anomaly 500 metres southeast of the Central Zone deposits, extending at least 1,000 metres along strike and about 500 metres wide, near a historical heavy mineral concentrate sample grading 111.5 g/t gold. Additional conductive anomalies were defined at Cape Ray and along the Long Range boundary. A fully funded drill program to test the new anomaly is scheduled for the fourth quarter of 2025.
Drill resultsBecoming a substantial holder - Precious Capital Global
Precious Capital Global Mining and Metals Fund became a substantial holder in AuMEGA Metals on 19/09/2025, holding 45,000,000 ordinary fully paid shares for voting power of 5.39%. Recent purchases included 4,000,000 shares at CAD 0.03 on 19.09.2025, 2,000,000 shares at CAD 0.03 on 18.09.2025 and 3,000,000 shares at CAD 0.0309 on 17.09.2025. The fund is based in Zürich, Switzerland.
CorporateUpdated Corporate Presentation - September 2025
A reissued version of the Corporate Presentation – September 2025, originally released 9 September 2025, removes page 8, which contained a peer comparison that did not comply with the ASX peer comparison guide (Listed@ASX Compliance Update #08/18 and #08/24). AuMEGA Metals states investors should not rely on the retracted information, and the updated presentation has been authorised for release by the Board of Directors.
CorporateCape Ray Drilling Extends Central Zone Mineralisation
Diamond drilling at the Cape Ray Project in Newfoundland and Labrador, Canada returned 1.85 g/t gold over 13.5 metres, including 4.79 g/t over 0.85 metres from 340.5 metres, in hole CRD412, extending mineralisation down plunge of the Z04 deposit at Central Zone. Nine holes totalling 2,559.7 metres were completed across a 5.3 kilometre stretch. A mapping and till program at Cape Ray West collected 1,082 till and 91 rock samples, with assays pending. Cash stood at C$9.2 million as at 30 June 2025.
Drill resultsCorporate Presentation - September 2025
A September 2025 corporate presentation covers AuMEGA's Newfoundland, Canada projects, including Cape Ray, where indicated mineral resources are 6.2 Mt at 2.25 g/t for 450 koz Au and inferred resources are 3.5 Mt at 1.4 g/t for 160 koz Au. Nearly 8,000 metres have been drilled in 2025 so far, including 5,067 metres at Bunker Hill and 2,560 metres at Cape Ray, with up to 7,000 mapping and sampling samples planned. Cash was C$9.2M as at 30 June 2025.
CorporateApplication for quotation of securities - AAM
200,000 ordinary fully paid shares were issued on 5 September 2025 for nil cash consideration, valued at an estimated $0.031 per security, and applied for quotation on ASX. The issue is the two-year anniversary payment under the Hermitage option agreements announced on 28 August 2023, with 300,000 shares still to be issued on the three-year anniversary. Following quotation, AuMEGA will have 606,250,697 quoted ordinary shares on issue.
FinancingHalf Yearly Report and Accounts
Interim results for the half-year ended 30 June 2025 show a loss after tax of $1,057,708 (30 June 2024: $1,672,495) and cash of approximately $9.2 million (A$10.4 million) at 30 June 2025, down from $15,726,784 at 31 December 2024. In Newfoundland and Labrador, the Cape Ray spring drill program was completed in early July 2025 with nine holes for 2,599.7 metres, with initial assays expected mid to end of August 2025, and the Bunker Hill winter program totalled 5,067 metres. Planned 5,000-metre Bunker Hill diamond drilling was deferred to late Q3 or early Q4 2025.
CorporateInitial Director's Interest Notice - J.Withall
James Carr Withall was appointed a director of AuMEGA Metals Limited on 1 August 2025. He holds 500,000 fully paid ordinary shares (TSXV) as registered holder, with no other relevant interests in securities or contracts disclosed.
CorporateQuarterly Activities/Appendix 5B Cash Flow Report
Phase one diamond drilling at the Cape Ray Project in Newfoundland and Labrador was completed with nine holes for 2,559.7 metres testing resource extensions and new target areas, with initial assays expected mid-August 2025. The Bunker Hill winter program totalled 5,067 metres, including hole CRD396 intersecting 1.84 g/t gold over 1.0 metre; follow-up drilling was deferred to late Q3 or early Q4 2025 pending till sampling. Cash at 30 June 2025 was C$9.2 million, versus C$13.1 million the prior quarter.
CorporateManagements Discussion and Analysis - 30 June 2025
Cash stood at approximately C$9.2 million at 30 June 2025, down from $15.7 million at 31 December 2024, with a net loss of $0.7 million for the quarter and $1.1 million for the half year. Phase one drilling at Cape Ray, Newfoundland, was completed with nine holes for 2,559.7 metres, with initial assays expected mid-August 2025. Planned 5,000-metre diamond drilling at Bunker Hill was deferred to late Q3 or early Q4 2025 in favour of till sampling; $4.7 million of flow-through funds must be spent by 31 December 2025.
CorporateInterim Financial Report - 30 June 2025
Interim results for the half-year ended 30 June 2025 show a loss after income tax of $1,057,708 (2024: $1,672,495), operating cash outflow of $1,029,045, and cash and cash equivalents of $9,214,962 at 30 June 2025, down from $15,726,784 at 31 December 2024. Exploration and evaluation assets, located on the island of Newfoundland, Canada, rose to $55,863,999 after $6,795,284 of additions. Of the 2024 $12,296,000 flow-through offering, $7,635,000 had been spent, leaving about $4,661,000 to spend by 31 December 2025.
CorporateAuMEGA Metals Provides Exploration Update
Nine diamond holes totalling 2,559.7 metres were completed in Phase One at the Cape Ray project in Newfoundland and Labrador, testing resource extensions and new targets, with initial assays expected in mid-August 2025. Till sampling programs are underway or planned, including about 1,500 samples over 16 km² at Cape Ray West, roughly 3,800 samples over 56 km² plus 600 samples over 19 km² at Bunker Hill, and over 1,700 at Hermitage. Bunker Hill drilling is deferred to late Q3 or early Q4 2025. Cash was C$9.2 million at 30 June 2025.
Drill resultsApplication for quotation of securities - AAM
1,937,655 ordinary fully paid shares will be quoted on the ASX from 18 July 2025 following the exercise of vested short-term incentive options issued under AuMEGA Metals' employee incentive scheme, comprising 39,076 from 2022 STI options, 213,839 from 2023 STI options and 1,684,740 from 2024 STI options, all for nil cash consideration valued at A$0.031 per security. Following quotation, AuMEGA will have 606,050,697 quoted ordinary shares on issue.
FinancingChange of Director's Interest Notice - S.Pazuki
Director Sam Pazuki exercised 1,083,209 unquoted 2024 STI Options on 18 July 2025 at $0.059 (AUD) per option, receiving 1,083,209 fully paid ordinary shares listed on the ASX. He now directly holds 3,852,127 TSXV-listed shares, 1,083,209 ASX-listed shares and various unquoted options and performance rights, plus indirect holdings of 673,096 and 800,000 shares. Prior written clearance for the closed-period exercise was given on 16 July 2025.
CorporateChange of Director's Interest Notice - C.Marinkovich
Director Carol Marinkovich's indirect holding (held by husband Graeme Marinkovich) increased by 540,882 fully paid ordinary shares on 4 July 2025 through the exercise of 39,076 2022 STIP Options, 213,839 2023 STIP Options and 287,967 2024 STIP Options at $0.031 (AUD) per option. Shares held rose from 324,503 to 865,385. The trade occurred in a closed period, with written clearance provided on 16 July 2025.
CorporateAuMEGA Strengthens Board with Appointment of James Withall
James Withall has been appointed as a Non-Executive Director of AuMEGA Metals, effective 1 August 2025, becoming the Company's fourth Non-Executive Director. Withall was previously Chief Executive Officer of Rupert Resources from 2017 to 2024, where he led the Ikkari gold project in northern Finland, and spent thirteen years as Managing Partner and Fund Manager at BakerSteel Capital Managers.
ManagementChange of Director's Interest Notice - S.Pazuki
Director Sam Pazuki was issued 2,999,655 unquoted 2025 LTIP Options valued at $0.059 (AUD) each, 2,999,654 unquoted 2025 LTIP Performance Rights at $0.031 (AUD) each and 4,999,424 unquoted 2025 STI Options (ZEPOs) at $0.059 (AUD) each, as approved at the AGM held 27 May 2025. A total of 4,366,305 unquoted STI Options were cancelled because vesting conditions were not fully met. The change took effect 4 July 2025.
CorporateChange of Director's Interest Notice - C.Marinkovich
Director Carol Marinkovich acquired an indirect interest, held by her husband Graeme Marinkovich, in 553,782 unquoted 2025 LTIP Options valued at $0.059 (AUD) each, 553,782 2025 LTIP Performance Rights at $0.031 (AUD) each and 1,329,078 2025 STI Options at $0.059 (AUD) each, issued on 4 July 2025 as approved at the AGM on 27 May 2025. A total of 1,027,965 unquoted STI Options were cancelled after vesting conditions were not fully met.
CorporateChange of Director's Interest Notice - N.Adshead-Bell
Director Nicole Adshead-Bell acquired an indirect interest in 1,246,537 unlisted Director Options expiring 31 December 2029, held through Cupel Advisory Corp, with the change dated 4 July 2025. The options were issued at A$0.031 per share as approved at the AGM on 27 May 2025. Her holdings after the change comprise 521,739 ordinary fully paid shares (ASX), 400,000 ordinary fully paid shares (TSXV) and 680,000 ordinary fully paid shares held indirectly, plus the options.
CorporateNotification regarding unquoted securities - AAM
A total of 34,644,458 unquoted securities were issued on 30 June 2025 under employee incentive arrangements: 8,582,787 2025 LTIP Options and 6,000,000 Incentive Options exercisable at AUD 0.059 (expiring 1/1/2030 and 1/5/2030), 8,582,787 2025 LTIP Performance Rights, and 1,246,537 Director Options and 10,232,347 2025 STIP Options at nil exercise price. Recipients include KMP Sam Pazuki, Michael Skead, Graeme Marinkovich and Cupel Advisory Corp. Quoted ordinary shares total 604,113,042.
NewsNotification of cessation of securities - AAM
10,282,083 unquoted nil-exercise-price options expiring 01-Jan-2029 (AAMAD) ceased on 12 June 2025 after vesting conditions were not met, with no consideration paid. Following the cessation, issued capital comprises 604,113,042 quoted ordinary fully paid shares, plus unquoted securities including 182,899,666 TSX-V shares, 8,530,499 performance rights and 1,684,740 remaining AAMAD options.
CorporateResults of Annual General Meeting
All resolutions were passed on a poll at the Annual General Meeting held 27 May 2025, including the re-election of directors Dr Nicole Adshead-Bell, Mr Justin Osborne, Mrs Carol Marinkovich, Mr Kerry Sparkes and Mr Sam Pazuki, re-approval of the Omnibus Equity Incentive Plan, issues of equity incentives to Mr Pazuki, Mrs Marinkovich and Dr Adshead-Bell, approval of the auditor and approval of the 7.1A mandate. The Remuneration Report was adopted with 76.89% of poll votes in favour.
CorporateChair's Address to Shareholders
The Chair's address at the 2025 Annual General Meeting, delivered by Dr Nicole Adshead-Bell in Justin Osborne's absence, covered the rebrand from Matador Mining to AuMEGA Metals, C$16 million in funding secured during 2024, new cornerstone shareholders, and the appointment of Mike Skead as President. The company is using reverse circulation drilling for basal till and bottom-of-hole sampling in Newfoundland and Labrador, and reported geophysical surveys at Bunker Hill identifying large dilation zones along the Cape Ray Shear Zone.
CorporateAuMEGA Commences Diamond Drilling at Cape Ray
Diamond drilling has recommenced at the Cape Ray Project in Newfoundland and Labrador, Canada, with up to 10,000 metres planned (success dependent) across Cape Ray and Bunker Hill, including up to 5,000 metres at Cape Ray. Partial winter results from 15 holes totalling 3,673 metres at Bunker Hill included CRD396, which returned 1.84 g/t gold over 1.0 metre from 10 metres, including 5.58 g/t gold, 96 g/t silver and 3.64% lead over 0.3 metres. Assays are pending from nine diamond holes and 147 RC base-of-till holes; cash was C$13.1 million at 31 March 2025.
Drill resultsCorporate Presentation - May 2025
A May 2025 corporate presentation covering AuMEGA's Newfoundland projects. Cape Ray hosts indicated resources of 6.2 Mt at 2.25 g/t for 450 koz gold and inferred resources of 3.5 Mt at 1.4 g/t for 160 koz gold, with a roughly 5,000 metre diamond drill program, airborne EM survey and mapping underway. At Bunker Hill, a winter program drilled 147 RC holes for 1,397 m and 14 diamond holes for 3,670 m, with hole CRD0396 returning 1.84 g/t gold over 1 m from 10 m; a further 5,000 m is planned. Cash was C$13.1M at 31 March 2025.
CorporateReissued Major Structure Identified at Bunker Hill from RC
An amended version of the 6 May 2025 release adds a change of competent person, tabulated RC results, data aggregation methods and the relationship between mineralised widths and intercept lengths. The winter program at the Bunker Hill Project, Newfoundland, totalled 5,067 metres of diamond and RC drilling, including 147 RC holes for 1,390 metres. RC hole CRC0284 averaged 417 ppb gold over six metres from two metres, peaking at 893 ppb gold, 3.7 g/t silver and 0.92% lead on the Branch Fault; other holes returned 219, 160 and 129 ppb gold. A 5,000-metre diamond program at Cape Ray starts in June 2025.
Drill resultsMajor Structure Identified at Bunker Hill from RC Drilling
A 5,067-metre winter diamond and RC drilling program at the Bunker Hill Project along the Cape Ray Shear Zone in Newfoundland and Labrador has concluded, including 147 shallow RC holes totalling 1,390 metres and 14 diamond holes totalling 3,670 metres. Bottom-of-hole RC hole CRC0284 averaged 417 ppb gold over six metres, peaking at 893 ppb gold with 3.7 g/t silver and 0.92% lead on the Branch Fault; CRC0216, CRC0273 and CRC0215 returned 219, 160 and 129 ppb gold. Base-of-till and diamond assays are pending, with 5,000 metres of drilling planned at Cape Ray from June 2025 and 5,000 metres at Bunker Hill from mid-year. Cash was C$13.1 million at the end of Q1 2025.
Drill resultsLetter to Shareholders - AGM
AuMEGA Metals will hold its Annual General Meeting and Special Meeting at Level 5, 191 St George's Terrace, Perth, Western Australia on Tuesday, 27 May 2025 at 4:30pm (AWST). Physical copies of the Notice of Meeting will not be dispatched unless requested, with the notice available on the company's website. Proxy voting instructions must be received by 4:30pm (AWST) on Sunday, 25 May 2025, and shareholder questions submitted at least 48 hours before the meeting.
CorporateNotice of Annual General Meeting/Proxy Form
Annual General Meeting and Special Meeting set for 4:30pm (AWST) on Tuesday, 27 May 2025 at Level 5, 191 St George's Terrace, Perth, Western Australia, with voting entitlements fixed at 5:00pm (AWST) on 25 May 2025. Resolutions include adoption of the remuneration report for the year ended 31 December 2024, re-election of directors Nicole Adshead-Bell, Justin Osborne, Carol Marinkovich, Kerry Sparkes and Sam Pazuki, re-approval of the Omnibus Equity Incentive Plan, incentive security issues to related parties, re-appointment of Grant Thornton Audit Pty Ltd, and approval of a Listing Rule 7.1A 10% placement mandate.
CorporateQuarterly Activities/Appendix 5B Cash Flow Report
The 2025 winter drill program at Bunker Hill in Newfoundland concluded on 22 April 2025 after 14 diamond holes and 147 short RC holes totalling nearly 5,000 metres, with assays pending; diamond drilling resumes in July 2025 targeting up to 10,000 metres. The company staked 173 mineral claims covering an additional 43 km² on 8 April 2025, and first-pass prospecting at Blue Cove returned 2.57 g/t gold. Cash at 31 March 2025 was approximately $13.1 million, and Mike Skead was appointed President effective 1 May 2025.
CorporateInterim Financial Report - 31 March 2025
A loss after income tax of $366,726 was reported for the three months ended 31 March 2025, compared with $585,663 a year earlier, with net operating cash outflows of $917,406 and cash and cash equivalents of $13,068,842 at period end versus $15,726,784 at 31 December 2024. Exploration and evaluation assets in Newfoundland, Canada rose to $52,379,633 after $3,310,918 of additions. Mike Skead was appointed President effective 1 May 2025.
CorporateManagements Discussion and Analysis - 31 March 2025
Cash stood at $13.1 million at 31 March 2025, down from $15.7 million at 31 December 2024, with a net loss of $0.4 million for the quarter versus $0.6 million a year earlier. The Bunker Hill winter drill program in Newfoundland ended 22 April 2025 after 14 diamond holes and 147 short RC holes for nearly 5,000 metres, with assays pending; diamond drilling resumes in July 2025 targeting up to 10,000 metres. Mike Skead was appointed President effective 1 May 2025.
CorporateAuMEGA Metals Strengthens Leadership Team
Mike Skead has been appointed President of AuMEGA Metals, effective 1 May 2025, reporting directly to Managing Director and CEO Sam Pazuki and taking accountability for the Company's exploration strategy and activities. Skead has over 30 years of exploration and mining development experience, previously serving as Vice President of Project Development at GT Gold Corp. and Director of Geoscience at Newmont Corp., with earlier senior roles at Goldcorp, Dundee Resources, Banro, Ashanti Goldfields, SAMAX Resources and Genmin.
ManagementAuMEGA Announces Bunker Hill and Blue Cove Updates
The 2025 winter drill program at the Bunker Hill Project in Newfoundland will conclude on 22 April 2025, with approximately 3,600 metres completed to date across 12 diamond drill holes and 147 RC holes; assays are pending and diamond drilling is scheduled to resume in July 2025 targeting up to 10,000 metres. AuMEGA staked 173 claims covering 43 km² on the southern margin of Bunker Hill on 8 April 2025. First-pass prospecting at Blue Cove returned 22 rock samples with a peak of 2.57 g/t gold.
CorporateAuMega 2024 Annual Report to shareholders
AuMEGA Metals released its 2024 Annual Report for the year ending 31 December 2024, covering exploration on the Cape Ray Shear Zone, Hermitage, Bunker Hill, Malachite and Intersection projects in Newfoundland, Canada. The Company raised approximately C$16 million (before costs) in a two-tranche placement and closed the 2024 calendar year with C$15.7 million cash. It rebranded from Matador Mining, listed on the TSX-V, and appointed Rick Greenwood as Vice President of Exploration in September 2024.
CorporateCorporate Governance Statement
AuMega Metals released its Corporate Governance Statement for the financial year ended 31 December 2024, accurate as at 27 March 2025 and approved by the Board, reporting against the ASX Corporate Governance Council's Principles and Recommendations (4th Edition). The Board comprises five directors, three of whom are independent non-executive directors (Justin Osborne, Kerry Sparkes and Nicole Adshead-Bell). The Company does not set measurable gender diversity objectives, has no separate risk committee and no internal audit function, citing its current size.
CorporateManagements Discussion and Analysis 31 December 2024
Full-year 2024 results show a net loss of $4.2 million versus $6.6 million in 2023, with a December 31, 2024 cash balance of $15.7 million compared to $9.0 million a year earlier, following a C$16 million two-tranche private placement in which B2Gold increased its holding to 9.9%. AuMEGA plans approximately 20,000 metres of drilling in Newfoundland in 2025, including 10,000 metres at Bunker Hill in the first quarter plus programs at Cape Ray and Hermitage. Rick Greenwood was appointed Vice President of Exploration effective 1 October 2024.
CorporateCorporate Presentation - February 2025
A February 2025 corporate presentation outlines AuMEGA's 2025 exploration plans in Newfoundland, Canada: a winter Bunker Hill program of about 10,000 metres (5,000–7,500m RC and 5,000–6,000m diamond drilling) across Nitty Gritty Granite, Bunker Hill West and the Cape Ray/Valentine Shear Zone; a mid-year Cape Ray diamond program of about 5,000 metres plus a Q1 2025 airborne EM survey; and planned drilling at the Hermitage gold-antimony project. Cape Ray hosts 6.2 Mt @ 2.25 g/t for 450 koz Au indicated and 3.5 Mt @ 1.4 g/t for 160 koz Au inferred. Cash was C$15.7M at December 31, 2024.
CorporateCommencement of its Winter Drill Program at Bunker Hill
The 2025 winter drill program has begun at the Bunker Hill project along the Cape Ray/Valentine Shear in south central Newfoundland and Labrador, Canada, starting with two diamond drill rigs at the Nitty Gritty targets after a delay from inclement winter weather. A reverse circulation rig is on site and is expected to begin the first bottom-of-hole/basal till sample shortly. The program remains on course for approximately 10,000 metres, with drilling to move to Bunker Hill West and assays expected from mid-to-late March into the second quarter of 2025.
Drill resultsAuMEGA Metals has drill spinning in winter program at Bunker Hill in Canada
The 2025 winter drilling program has begun at the Bunker Hill gold-copper-silver project along the Cape Ray/Valentine Shear in south-central Newfoundland and Labrador, Canada, after a short delay due to inclement weather. Two diamond rigs are operating at the Nitty Gritty targets, with a reverse circulation rig on site to start bottom-of-hole/basal till sampling shortly. The program covers approximately 10,000 metres, with drilling to move to Bunker Hill West and assays expected from mid-to-late March into the second quarter of 2025.
Drill resultsResults from Airborne Magnetic Survey on Hermitage Project
A high-resolution airborne magnetic survey has been completed over the Hermitage Gold-Antimony Project in south central Newfoundland and Labrador, Canada, covering about 234 km2 with 4,756 line-kilometres at 50 metre line spacing and 30 metre sensor height, flown by SHA Geophysics before the end of 2024. Results show second- and third-order faults across the 27-kilometre strike length, aligning with prior samples of 7.31 g/t gold, 193 g/t silver and 2,044 ppm antimony. Analysis is underway to define targets for mapping, prospecting and an inaugural diamond drill program of up to 3,000 metres expected in the second half of 2025.
Drill resultsAuMEGA Metals buoyed by positive signs from airborne magnetic survey at Hermitage
A high-resolution airborne magnetic survey over the Hermitage Gold-Antimony Project in south-central Newfoundland and Labrador, Canada, covering about 234 square kilometres and 4,756 line-kilometres at 50-metre line spacing, identified major structures and second- and third-order faults across the 27-kilometre strike length. Previous prospecting returned up to 7.31 g/t gold, 193 g/t silver and 2,044 ppm stibnite. An inaugural diamond drill program of up to 3,000 metres is planned for the second half of 2025, with 10,000–12,000 metres to be drilled this quarter at Bunker Hill.
Drill resultsJust the Facts: AuMEGA Metals identifies key Hermitage targets in airborne survey
A high-resolution airborne magnetic survey over the Hermitage Gold-Antimony Project in south-central Newfoundland and Labrador, Canada, covered about 234 square kilometres and showed geological complexity along a 27-kilometre strike length, identifying second- and third-order faults aligning with previous high-grade prospecting samples of 7.31 g/t gold, 193 g/t silver and 2,044 ppm antimony. The data will guide mapping and prospecting ahead of an inaugural diamond drill program in the second half of the year. The Bunker Hill winter drill program is targeting 10,000 to 12,000 metres this quarter.
Drill resultsQuarterly Activities/Appendix 5B Cash Flow Report
A private placement of approximately C$16 million (before costs) was completed during the December 2024 quarter in two tranches, with B2Gold Corp increasing its holding to 9.9% of shares outstanding, leaving a 31 December 2024 cash balance of approximately $15.7 million (A$17.2 million). Plans for 2025 include about 20,000 metres of drilling in Newfoundland and Labrador, with a 10,000 metre diamond and RC program at Bunker Hill in the first quarter and 3,000 to 4,000 metres at Hermitage in the second half. Till sampling at Bunker Hill West returned peak values of 148 ppb and 94 ppb gold.
CorporateNotification regarding unquoted securities - AAM
76,200,000 unquoted TSX-V shares (AAMAT) were issued on 1 November 2024 at CAD 0.06825 per security for cash, under a placement previously notified in an Appendix 3B announced 22 October 2024. The notification corrects an Appendix 3G lodged on 1 November 2024 that used an incorrect ASX:TSXV code. Following the issue, AuMEGA Metals has 604,113,042 quoted ordinary fully paid shares and 182,899,666 AAMAT securities on issue.
NewsAuMEGA Announces Major 2025 Exploration Program
A fully funded 2025 exploration program is planned in Newfoundland and Labrador, comprising approximately 13,000 metres of diamond drilling and 7,000 metres of RC bottom-of-hole drilling, funded by roughly C$16 million raised in late 2024. Bunker Hill is the priority with 10,000 to 12,000 metres of winter drilling in Q1 2025, starting early February. Cape Ray is slated for a 5,000 metre program in Q2–Q3, and Hermitage for an inaugural drill program of up to 3,000 metres in H2 2025.
Drill resultsAuMEGA Metals outlines plans for ambitious 2025 exploration program
AuMEGA Metals has set out a fully funded 2025 exploration program across its projects along the Cape Ray Shear Zone and Hermitage Flexure in Newfoundland and Labrador, Canada, covering 110 kilometres of strike. Plans include 10,000 to 12,000 metres of winter drilling at Bunker Hill starting early February 2025, a 5,000-metre diamond drilling campaign at Cape Ray from mid-2025 preceded by a TDEM airborne survey, and up to 3,000 metres of inaugural drilling at Hermitage in the second half of 2025.
Drill resultsAuMEGA Metals' 2025 exploration plans: A deep dive
Plans for 2025 include a winter drill program of up to 20,000m, the company's largest to date, with the Bunker Hill Project a key focus after high-grade copper samples of 40% to 57% and gold samples up to 18g. Inaugural drilling is planned at Hermitage alongside expansion of existing Cape Ray resources in Newfoundland, where a 110km gold belt hosts 600,000oz of shallow mineralised gold. In 2024 the company introduced RC drilling, secured a TSX listing and raised CAD$16 million.
Drill results2025 TD Mining Conference Presentation, Toronto, Canada
An investor presentation delivered by Managing Director and CEO Sam Pazuki at the 2025 TD Mining Conference in Toronto on January 14, 2025 outlines the company's Newfoundland, Canada gold projects. It reports cash of C$15.8M/A$17.8M as at January 1, 2025, 787.0M shares outstanding, and a share price of C$0.045/A$0.044 as at January 10, 2025. Plans include 10,000 metres of diamond and RC drilling at Bunker Hill in Q1 2025, weather-dependent and expected to begin in early February, plus diamond drilling at Hermitage in 2025. Cape Ray hosts Indicated Resources of 6.2 Mt at 2.25 g/t for 450 koz Au and Inferred Resources of 3.5 Mt at 1.4 g/t for 160 koz Au.
CorporateBecoming a substantial holder
Franklin Resources, Inc. and its affiliates became a substantial holder in AuMEGA Metals Limited on 3 January 2025, with a relevant interest in 43,527,330 ordinary shares, or 6.14% voting power based on 709,069,407 shares on issue. The notice records Franklin Advisers, Inc. acquiring 28,500,000 shares on 3 January 2025 for cash consideration of AUD 1,589,452, with the shares registered to JP Morgan Chase Bank, N.A.
CorporateAdoption of Omnibus Equity Incentive Plan
Shareholders at AuMEGA Metals' Special Shareholder Meeting on 4 December 2024 adopted an amended and restated equity incentive plan with a 10% rolling stock option component and a fixed share unit component (Restricted Share Units, Performance Share Units, Deferred Share Units or Stock Appreciation Rights) reserving an aggregate of 65,732,263 shares for issuance. The plan requires annual shareholder approval and annual TSX Venture Exchange review. A maximum of 70,000,000 securities can be issued under the plan without using ASX placement capacity within three years of approval.
Corporate
2024104 releases
Application for quotation of securities - AAM
Quotation is sought for 1,654,301 ordinary fully paid shares issued on 30 December 2024 on exercise of nil-exercise-price options expiring 1 January 2027, granted under an employee incentive scheme relating to the 2022 and 2023 STI. All 1,654,301 options were exercised by key management personnel Sam Pazuki for nil cash consideration, valued at an estimated A$0.037 per security. Following quotation, AuMEGA Metals will have 604,113,042 quoted ordinary shares on issue.
FinancingChange of Director's Interest Notice - S.Pazuki
Director Sam Pazuki acquired 1,654,301 fully paid ordinary shares on the ASX at $0.037/share on 30 December 2024 through the exercise of vested 2022 and 2023 STI options. His direct holding increased to 3,252,127 fully paid ordinary shares, and the 1,654,301 unquoted STI options expiring 1/1/2027 were extinguished. The trade did not occur during a closed period.
CorporateAuMEGA CEO Holiday Message
A year-end CEO letter reviews 2024, citing the rebranding to AuMEGA Metals, the TSX listing, and a capital raise of approximately C$16 million (before costs), with about 70% of the financing sourced from North America and two new substantial shareholders added. The company says it is preparing for the largest drill program in the last 2.5 years, including at Bunker Hill, on its Cape Ray Shear Zone land package in Newfoundland, Canada.
NewsChange of Director's Interest Notice - S.Pazuki
Director Sam Pazuki acquired 600,000 fully paid ordinary shares on the TSXV at CAD $0.06 per share on 10 December 2024, through the purchase of Tranche 2 shares approved by shareholders at the Special Meeting held on 4 December 2024. He disposed of no securities. Following the change, Pazuki holds 1,597,826 direct ordinary shares plus the 600,000 TSXV shares, 1,473,096 indirectly held shares, and various unquoted options and performance rights.
CorporateChange of Director's Interest Notice - K.Sparkes
Director Kerry Elwyn Sparkes acquired 200,000 ordinary fully paid shares (TSXV) at CAD $0.060 per share on 10 December 2024, as part of the Tranche 2 share purchase approved by shareholders at the Special Meeting held on 4 December 2024. He now holds 200,000 ordinary fully paid shares (TSXV) and 412,088 unquoted options.
CorporateChange of Director's Interest Notice -N.Adshead-Bell
Director Nicole Adshead-Bell acquired 400,000 fully paid ordinary shares on the TSXV at CAD $0.05 per share on 10 December 2024, through the purchase of Tranche 2 shares approved by shareholders at the Special Meeting held on 4 December 2024. She now holds 521,739 direct ordinary shares plus the 400,000 TSXV shares, and an indirect interest of 680,000 ordinary shares via Cupel Advisory Corp. No securities were disposed.
CorporateBecoming a substantial holder - Waratah
Waratah Special Opportunities Limited Partnership and Waratah Capital Advisors Ltd. became a substantial holder in AuMEGA Metals Ltd. on October 31, 2024, holding 42,000,000 fully paid ordinary shares, or 5.35% voting power based on 785,358,407 shares outstanding as of December 10, 2024. The shares were acquired on October 31, 2024 for cash consideration of 2,100,000 CAD.
NewsAuMEGA Metals fields C$7.3 million in second tranche of private placement
The second tranche of a private placement closed for gross proceeds of C$7.3 million, involving 128,035,776 ordinary shares: 65,236,111 hard-dollar shares at C$0.050/A$0.054, 34,299,666 traditional flow-through shares at C$0.06/A$0.065 and 28.5 million premium flow-through shares at C$0.06825/A$0.07408. This follows a first tranche of 131,152,889 shares for C$8.77 million. Funds will primarily advance exploration in Newfoundland and Labrador, including drilling of up to 20,000 metres at Bunker Hill, plus early-stage work at Hermitage and Malachite. Final TSXV approval is pending.
FinancingNotification regarding unquoted securities - AAM
A new unquoted class of 106,699,666 TSX-V securities was issued on 6 December 2024, comprising 28,500,000 shares at CAD 0.68250000, 34,299,667 at CAD 0.06000000 and 43,899,999 at CAD 0.05000000, all for cash. The securities form Tranche 2 of the placement first notified in an Appendix 3B on 22 October 2024, with Tranche 2 shares to be issued on ASX still being finalised. Quoted ordinary shares total 581,122,630.
CorporateAuMEGA Announces Close of Tranche 2 Financing
The second and final tranche of AuMEGA Metals' private placement closed following shareholder approval on 4 December 2024, issuing 128,035,776 ordinary shares for gross proceeds of C$7.3 million, comprising 65,236,111 hard dollar shares at C$0.050/A$0.054, 34,299,666 traditional flow-through shares at C$0.06/A$0.065 and 28,500,000 premium flow-through shares at C$0.06825/A$0.07408. Tranche One raised C$8.77 million from 131,152,889 shares. Proceeds will fund a Newfoundland and Labrador exploration program of up to 20,000 metres, largely at Bunker Hill, plus working capital.
FinancingApplication for quotation of securities - AAM
Quotation has been applied for on 21,336,111 ordinary fully paid shares (ASX: AAM) issued 10 December 2024, comprising 11,111,111 shares at AUD 0.054 and 10,225,000 shares at CAD 0.05. The shares are Tranche 2 placement shares issued following shareholder approval at the general meeting held 4 December 2024, under the Appendix 3B announced 22 October 2024. Following quotation, 602,458,741 ordinary shares will be on issue.
FinancingDisclosure Document - Prospectus Tranche 2
A prospectus lodged with ASIC on 5 December 2024 covers the issue of 28,500,000 shares at C$0.06825 (A$0.07408) each to raise C$1,945,125 (A$2,111,280) under the Tranche 2 CF Offer, plus a cleansing offer of up to 10,000 shares raising up to C$682 (A$741). The Tranche 2 CF shares, approved by shareholders at the 4 December 2024 meeting, are flow-through shares and proceeds will fund exploration in Newfoundland and Labrador, Canada. Shares on issue would rise from 657,322,630 to 786,868,408.
FinancingReissued Announcement - Prospectivity at Bunker Hill
A till survey at Bunker Hill West, on the Cape Ray Shear Zone in Newfoundland and Labrador, Canada, returned peak gold-in-till values of 148 ppb and 94 ppb, including a multi-station anomaly 270 metres from historical outcrop samples grading up to 18.67 g/t gold, 35.3 g/t silver and 4.2% lead. Five reconnaissance diamond holes for about 1,100 metres at Malachite returned a best result of 0.33 g/t gold, 3.93 g/t silver over 0.91 metres in CRD385, with no economic mineralisation; Malachite work will be deferred in favour of Bunker Hill drilling in 2025. This release was reissued to update the Competent Person's consent statement and JORC Table 1 twinned-hole disclosure.
NewsProspectivity at Bunker Hill and Malachite Drill Results
A till survey at Bunker Hill West, on the Cape Ray Shear Zone in Newfoundland and Labrador, returned peak gold-in-till values of 148 ppb and 94 ppb, including a multi-station anomaly 270 metres from historic outcrop and float samples. Five reconnaissance diamond holes for about 1,100 metres at Malachite returned a peak 0.33 g/t gold, 3.93 g/t silver, 2,157 ppm lead and 873 ppm zinc over 0.91 metres in CRD385, with no economic mineralisation intersected. Advanced work at Malachite will be deferred in favour of Bunker Hill, with a 2025 program being defined.
Drill resultsCorporate Presentation - November 2024
A November 2024 corporate presentation for AuMEGA Metals covers its Newfoundland gold portfolio, including the Cape Ray Project's indicated resources of 6.2 Mt at 2.25 g/t for 450 koz Au and inferred resources of 3.5 Mt at 1.4 g/t for 160 koz Au. It details an upsized private placement for gross proceeds of C$16.1 million, with Tranche 1 closed at C$8.77 million and Tranche 2 of C$7.34 million subject to shareholder approval. Market capitalisation is A$29.5 million as at 1 November 2024.
CorporateCeasing to be a substantial holder
Precious Capital Global Mining and Metals Fund, via LLB Swiss Investment AG, ceased to be a substantial holder in AuMEGA Metals Ltd on 1 November 2024. The change resulted from a placement of new ordinary shares that increased AuMEGA's outstanding shares to 581,122,630, diluting the fund's holding. The previous substantial holder notice was dated 2 April 2024.
CorporateAuMEGA Closes First Tranche of Private Placement Financing
The first tranche of a private placement closed with 131,152,889 ordinary shares issued for gross proceeds of C$8.77 million, comprising 9,259,259 shares at C$0.050/A$0.054 and 121,893,630 flow-through shares at C$0.06825/A$0.07408. A second tranche of 129,535,778 shares for C$7.34 million requires shareholder approval at a special meeting on 4 December 2024, with closing expected within five days. Proceeds will fund a Newfoundland and Labrador drill program of up to 20,000 metres at Bunker Hill, plus Hermitage and Malachite work and working capital.
FinancingNotice of Special Shareholder Meeting/Proxy Form
A special shareholder meeting will be held at 10:00am (AWST) on Wednesday, 4 December 2024 at Level 5, 191 St George's Terrace, Perth, with a record date of 4:00pm (AWST) on Monday, 2 December 2024. Shareholders will vote on ten resolutions relating to the C$16.1 million private placement announced 22 October 2024, including ratification of 131,152,889 Tranche One shares, approval to issue up to 101,335,778 Tranche Two shares, director participation, a constitutional amendment, an Omnibus Equity Incentive Plan and 5,000,000 options to Sagepoint.
CorporateAuMEGA Metals secures funds in first tranche of ~A$16.11 million financing to drive exploration in Newfoundland
Completion of the first tranche of a two-tranche placement raised C$8.77 million (~A$9.56 million) through the issue of 131,152,889 ordinary shares, comprising 9,259,259 shares at C$0.050 and 121,893,630 flow-through shares at C$0.06825, with 76,200,000 listed on the TSXV and 54,952,889 on the ASX. Proceeds will fund a 20,000-metre drill program at the Bunker Hill Project on the Cape Ray Shear Zone in Newfoundland and Labrador, plus early-stage work at Hermitage and Malachite. Tranche Two, to raise C$7.34 million via 129,535,778 shares, goes to shareholder approval on December 4, 2024. Finders' fees of about C$555,000 were paid; Canadian securities are held until March 1, 2025.
FinancingNotification regarding unquoted securities - AAM
76,200,000 tranche 1 placement securities were issued on 1 November 2024 at CAD 0.06825 each on the TSX-V, under the placement announced on 22 October 2024. The securities are unquoted on ASX. Tranche 2 securities remain subject to shareholder approval. Following the issue, AuMEGA has 526,169,741 quoted ordinary fully paid shares on issue.
NewsApplication for quotation of securities - AAM
Quotation is sought for 54,952,889 ordinary fully paid AuMEGA Metals shares issued 1 November 2024 at AUD 0.05412 per security, comprising 9,259,259 Tranche 1 hard dollar shares and 45,693,630 Tranche 1 flow-through shares under the placement announced on 22 October 2024. Tranche 2 securities remain subject to shareholder approval. Following quotation, quoted ordinary shares on issue will total 581,122,630.
FinancingDisclosure Document - Prospectus Flow Through Placement
A prospectus lodged with ASIC on 31 October 2024 covers the offer of 121,893,630 shares at C$0.06825 (A$0.07408) each to raise C$8,319,240 (A$9,029,880) under the Tranche 1 CF Offer, plus a cleansing offer of up to 10,000 shares raising up to C$682 (A$741). The shares are intended to be issued as flow-through shares, with funds directed to exploration programs in Newfoundland and Labrador, Canada. Shares on issue would rise from 526,169,741 to 648,073,371, with offer costs estimated at C$640,000.
FinancingAuMEGA Completes First Pass Reconnaissance Tills Program
A first-pass reconnaissance till program at the Intersection Project on the Cape Ray Shear Zone, Newfoundland and Labrador, collected 914 samples across a 15 kilometre by 7 kilometre area on 800 metre spaced lines with 100 metre stations. Results define four areas of gold anomalism, with a peak value of 173 ppb gold and peak silver of 5.82 g/t, plus bismuth and copper in the 99th percentile. Additional licences were staked north of the property. Assays from five-hole drilling at Malachite and the Bunker Hill West till survey are expected in November 2024.
Drill resultsQuarterly Activities/Appendix 5B Cash Flow Report
Quarterly report for the three months ended 30 September 2024 covering roughly 3,000 metres of diamond drilling in Newfoundland, including 1,900 metres in eight holes on the Cape Ray Shear Zone and five holes for about 1,100 metres at Malachite, with final Malachite assays expected in November 2024. CRSZ results included 3.62 g/t gold over seven metres from 522 metres at Zone 04 and 1.94 g/t over 7.5 metres from 301 metres at Zone 41. Bunker Hill outcrop samples returned 17.2% and 12.4% copper. Cash at 30 September was approximately $3.3 million, and after quarter end the Company raised about C$16.1 million at an average C$0.062 per share.
CorporateTSXV Managements Discussion and Analysis - 30 Sept 2024
Q3 2024 financial and operating results for the quarter ended September 30, 2024 show a cash balance of $3.3 million, down from $9.0 million at December 31, 2023, and a net loss of $0.9 million. AuMEGA completed approximately 3,000 metres of diamond drilling on the Cape Ray Shear Zone and Malachite in Newfoundland, with Central Zone hole CRD381 returning 3.62 g/t Au over seven metres from 522 metres. After quarter end the Company raised approximately $16.1 million via a two-tranche placement of about 259.3 million shares.
CorporateTSXV Interim Financial Statements - 30 September 2024
Interim financial statements for the nine months ended 30 September 2024 report a loss after tax of CAD$2,600,850, operating cash outflow of CAD$1,634,372, and cash and cash equivalents of CAD$3,296,663 at period end versus CAD$8,951,529 at 31 December 2023. Exploration and evaluation assets, located on Newfoundland's Cape Ray Shear Zone in Canada, rose to CAD$48,080,158. Subsequent to period end, on 22 October 2024 the company raised approximately $16.1 million before costs via about 259.3 million shares at an average C$0.062/A$0.067.
CorporateAuMEGA Metals inaugural Intersection reconnaissance till program provides priority targets
Results from a first-pass reconnaissance till geochemical survey at the Intersection Project along the Cape Ray Shear Zone in Newfoundland and Labrador, Canada, identified four large areas of gold anomalism for follow-up. Peak values were 173 ppb gold and 5.82 g/t silver, with coincident bismuth and copper anomalism in the 99th percentile of the survey area. The survey used grid lines 800 metres apart with stations at 100 metres. Final assays from five-hole drilling at Malachite and the Bunker Hill West till survey are expected in November 2024.
Drill resultsAuMEGA Announces Private Placement Financing of C$16.3 M
Commitments of approximately C$16.3 million (before costs) have been received through an upsized private placement of about 262.5 million shares at an average price of C$0.062 / A$0.067 per share, comprising C$10.2 million of premium flow-through at C$0.068, C$2.1 million of traditional flow-through at C$0.06 and C$4.0 million of hard dollars at C$0.05. B2Gold Corp increased its ownership to 9.9% of shares outstanding. Tranche One is expected to close 31 October 2024, with Tranche Two subject to shareholder approval at a meeting expected in early December 2024. Proceeds will fund exploration in Newfoundland and Labrador, including a drill program of up to 20,000 metres, and working capital.
FinancingProposed issue of securities - AAM
A two-tranche placement of up to 263,892,371 ordinary shares is proposed, with an issue date of 1/11/2024. Shares are priced at AUD 0.054 and AUD 0.074, and at CAD 0.050, CAD 0.060 and CAD 0.068. Tranche 2 requires shareholder approval at a meeting proposed for 4/12/2024, and a listing rule 10.11 party is participating. Proceeds will fund exploration in Newfoundland and Labrador, Canada, with hard dollar placement funds for working capital. GBA Capital is lead manager in Australia; the Canadian offer is non-brokered.
FinancingAuMEGA Metals raises C$16.3 million in upsized private placement to boost Canadian exploration
AuMEGA Metals has raised C$16.3 million in an upsized private placement, with B2Gold Corp increasing its stake to 9.9%. Approximately 262.5 million shares will be issued at an average price of C$0.062 (A$0.067) per share across two tranches, with tranche two of 131 million shares requiring shareholder approval expected in the first week of December. Proceeds will fund exploration at the company's Newfoundland and Labrador projects, including 20,000 metres of drilling at Bunker Hill, plus working capital.
FinancingAuMEGA Announces Trading Halt to Commence Private Placement
AuMEGA Metals has begun a non-brokered private placement to raise gross proceeds of up to $10 million, priced in the context of the market and comprising flow-through shares, premium flow-through shares and hard-dollar shares, with GBA Capital acting as lead manager and bookrunner in Australia. Proceeds will fund exploration in Newfoundland and Labrador, including a drill program of up to 20,000 metres at the Bunker Hill Project and Cape Ray, early-stage work at Hermitage and Malachite, and working capital. ASX trading is halted pending the outcome.
FinancingHigh Res Magnetics Reveals Significant Geological Structures
Preliminary results from a completed high-resolution airborne magnetic and Very Low Frequency Electromagnetic survey over the Bunker Hill Project along the Cape Ray Shear Zone in Newfoundland and Labrador, Canada, covering approximately 170 km2 and 3,140 line-kilometres at 60-metre line spacing and 30-metre sensor height. The data show structural complexity across the 25-kilometre strike length, with structures aligning with prior high-grade copper, gold and silver samples. Final results are expected before the end of the year.
Drill resultsAuMEGA on scent of copper, silver and gold in geological structures at Bunker Hill in Canada
A high-resolution airborne magnetic, VLF-EM and radiometric survey totalling 3,140 line-kilometres has been completed over 170 square kilometres of the Bunker Hill Project in Newfoundland and Labrador, Canada, which sits along the Cape Ray Shear Zone across 25 kilometres of continuous strike. Early magnetic data identified the shear zone plus second- and third-order faults aligning with samples grading up to 25% copper in outcrop, 57% copper float, 44.5 g/t silver outcrop, 407.5 g/t silver float and 17.0 g/t gold. Assays from summer till surveys are pending, with second-phase Malachite drilling results expected in November 2024.
Drill resultsNotification of cessation of securities - AAM
A total of 6,481,157 unquoted securities lapsed on 1/10/2024 after an employee ceased employment and vesting conditions could not be met, comprising 90,000 options expiring 01-OCT-2027 (nil exercise), 1,437,587 performance rights, 606,842 options expiring 01-JAN-2030 at $0.136, 1,690,718 options expiring 01-JAN-2031 at $0.05 and 2,656,010 options expiring 01-JAN-2029 (nil exercise). No consideration was paid. Quoted ordinary shares on issue remain 526,169,741.
CorporateChange of Director's Interest Notice - S.Pazuki
Director Sam Pazuki acquired 400,000 fully paid ordinary shares at A$0.0484 per share via an on-market purchase on 3 October 2024, held indirectly through HSBC Custody Nominees (Australia) Limited. The holding through that custodian rose from 400,000 to 800,000 shares, alongside 1,597,826 direct shares and 673,096 shares held via BNP Paribas. The trade did not occur during a closed period.
CorporateChange of Director's Interest Notice - J.Osborne
Director Justin Osborne acquired 100,000 fully paid ordinary shares of AuMEGA Metals on-market at $0.045 per share, in two tranches on 27 September 2024 (1,612 shares) and 1 October 2024 (98,388 shares). The shares are held indirectly through Janet Tunjic Pty Ltd <Tunoz Family A/C>, lifting that holding to 250,000 shares. His other interests are unchanged at 920,870 and 620,000 shares plus 824,175 unquoted options.
CorporateAuMEGA Metals fields high-grade copper at Bunker Hill Project
First-pass prospecting at the Bunker Hill Project in Newfoundland and Labrador, Canada returned two outcropping vein samples grading 17.2% copper, 16.9 g/t silver and 0.41 g/t gold, and 12.4% copper, 19.1 g/t silver and 0.56 g/t gold. Two large intrusive units were identified along the Cape Ray Shear Zone, including the Nitty Gritty Granite, indicating porphyry potential; historic samples peaked at 57% copper, 17.05 g/t gold and 407.5 g/t silver. An airborne magnetic survey is complete and till geochemistry assays are pending, with RC and diamond drilling under consideration.
Drill resultsChange of Director's Interest Notice - S.Pazuki
Director Sam Pazuki acquired 400,000 fully paid ordinary shares in AuMEGA Metals on 27 September 2024 via an on-market purchase at A$0.0441 per share. His holding increased from 2,270,922 to 2,670,922 fully paid ordinary shares, with his various unquoted option and performance rights holdings unchanged. The trade did not occur during a closed period.
CorporateAuMEGA Reports 17% & 12% Copper Outcropping from Bunker Hill
Prospecting at the eastern portion of the Bunker Hill Project along the Cape Ray Shear Zone in Newfoundland and Labrador returned outcropping vein sample MR002477 with 17.2% copper, 16.9 g/t silver, 0.41 g/t gold, 167 ppm bismuth and 5.37 ppm tellurium, and MR002478 with 12.4% copper, 19.1 g/t silver, 0.56 g/t gold, 1119 ppm bismuth and 9.98 ppm tellurium. Two intrusive units, the Cape Ray Fault Gabbro and Nitty Gritty Granite, were confirmed, with anomalous copper-gold-silver mineralisation across nearly one kilometre of strike. Till assays are pending and a high-resolution airborne magnetic survey is being processed.
Drill resultsAuMEGA Metals Extends Gold Mineralisation at Central Zone
AuMEGA Metals reported assays from the first phase of 2024 diamond drilling at the Cape Ray Shear Zone resource corridor in Newfoundland and Labrador, comprising eight holes for 1,900 metres. At Central Zone, CRD381 returned 3.62 g/t gold over seven metres from 522 metres, including 19.7 g/t gold and 1.6% copper over one metre, while CRD380 returned 1.94 g/t over 7.5 metres from 301 metres and 5.74 g/t over one metre from 381.75 metres. Second-phase drilling at Malachite is underway, with assays expected in the fourth quarter of 2024.
Drill resultsCorporate Presentation - September 2024
A September 2024 corporate presentation covers AuMEGA's Newfoundland projects, listing Cape Ray indicated resources of 6.2 Mt @ 2.25 g/t for 450 koz Au and inferred of 3.5 Mt @ 1.4 g/t for 160 koz Au, market capitalisation of A$23.7M, enterprise value of A$16.9M, 526M shares outstanding and a A$6.8M cash balance. It reports approximately 1,900 m of 2024 diamond drilling at Cape Ray, including Zone 04 returning 3.62 g/t Au over 7 metres, diamond drilling in progress at Malachite, and 37 targets identified in a technical workshop.
CorporateMD/CEO Presentation - Precious Metals Summit 2024
A corporate presentation delivered by Managing Director and CEO Sam Pazuki at the 2024 Precious Metals Summit in Beaver Creek, Colorado covers the company's Newfoundland projects, including Cape Ray, Malachite, Hermitage, Bunker Hill, Intersection and Blue Cove. It cites a market capitalisation of A$23.7M, enterprise value of A$16.9M, 526M shares outstanding and a A$6.8M cash balance, with B2Gold holding 10%. It notes 37 identified targets, phase-two diamond drilling in progress at Malachite, Cape Ray results including CRD381 7m @ 3.62 g/t Au from 522m, and 2025 drill planning.
CorporateAuMEGA Provides Hermitage Gold and Antimony Project Update
Prospecting and mapping are underway at the Hermitage gold and antimony project on the Hermitage Flexure in Newfoundland, identifying large areas of hydrothermal alteration hosting quartz-dominated hydrothermal breccias and interpreting the regional-scale North Limb Fault as comprising numerous subparallel fault splays. A high-resolution airborne magnetic and VLF geophysical survey is now expected in the Canadian autumn of 2024, with work designed to define drill targets for 2025. AuMEGA has staked a mineral licence adjacent to the south of its Hermitage claims and is evaluating historically identified uranium showings.
CorporateAuMEGA Appoints Rick Greenwood as Vice President Exploration
Rick Greenwood has been appointed Vice President of Exploration at AuMEGA Metals, with a start date expected 1 October 2024. Greenwood is a Newfoundland-based Professional Geologist with over 20 years of Canadian gold exploration experience, most recently as Exploration Manager for Kinross Gold, and previously with Great Bear Resources, Goldcorp's Red Lake Gold Complex and Rainy River Resources. AuMEGA's land package spans 110 kilometres along the Cape Ray Shear Zone in Newfoundland, Canada.
ManagementHalf Yearly Report and Accounts
A loss after income tax of $1,672,495 for the half year ended 30 June 2024 (30 June 2023: $2,160,874), with cash and cash equivalents of $6,227,862 at 30 June 2024 and operating cash outflow of $885,384. During the period the company completed a 157-hole winter RC drill program at Malachite defining three mineralised zones, began phase-one diamond drilling at Central Zone, optioned the Blue Cove Copper Project in southeastern Newfoundland, changed its name from Matador Mining and listed on the TSXV on 26 June 2024.
CorporateApplication for quotation of securities - AAM
Quotation is sought for 100,000 ordinary fully paid shares issued on 26 August 2024 for nil cash consideration, valued at an estimated $0.046 per security. The shares represent the one-year anniversary instalment under the option agreements for Hermitage announced on 28 August 2023, with a further 200,000 shares due on the two-year anniversary and 300,000 on the three-year anniversary. Following quotation, AuMEGA Metals will have 526,169,741 ordinary shares on issue.
FinancingAuMEGA Announces Start of Phase Two Diamond Drilling
Phase two diamond drilling has begun on the Cape Ray Shear Zone in Newfoundland, Canada, targeting greenfield areas at Malachite, with 2,000 to 3,000 metres planned depending on results and weather. Initial targets are O-2 West, where an RC hole returned 627 ppb gold and 1.99% copper in bedrock seven metres below surface, plus O-2 East and O-2 North; assays are expected in six to eight weeks. Phase one drilling finished at the end of July.
Drill resultsChange of Director's Interest Notice - C.Marinkovich
A change of director's interest notice for Carol Marinkovich reports the lapse of 165,000 unlisted options expiring 01/07/2026, held indirectly through her husband Graeme Marinkovich, on 2 August 2024, for nil consideration, due to vesting conditions not being met. After the change the indirect holding comprises 324,503 ordinary fully paid shares plus various unlisted, STI, LTI options and performance rights expiring between 1/1/2027 and 1/1/2031.
CorporateTSXV Interim Financial Statements - 30 June 2024
Unaudited interim financial statements for the six months ended 30 June 2024 report a loss after income tax of CAD$1,672,495 (30 June 2023: CAD$2,160,874), operating cash outflow of CAD$885,383, and cash and cash equivalents of CAD$6,227,862 at period end, down from CAD$8,951,529 at 31 December 2023. Exploration and evaluation assets, located in Newfoundland, Canada, stood at CAD$46,290,473. The statements note a material uncertainty regarding going concern if additional capital cannot be raised.
CorporateTSXV Management Discussion and Analysis - 30 June 2024
Second-quarter results for the period ended June 30, 2024 show a cash balance of $6.2 million, down from $9.0 million at December 31, 2023, a net loss of $0.9 million and exploration payments of $1.1 million. At the Cape Ray Gold Project in Newfoundland, the 157-hole winter RC program at Malachite was completed and the first phase of 2024 diamond drilling finished with eight holes for about 1,900 metres, with a 2,000 to 3,000 metre second phase planned. Shareholders approved the name change to AuMEGA Metals Ltd and shares began trading on the TSXV under AUM on 26 June 2024.
CorporateNotification of cessation of securities - AAM
A total of 1,552,577 unquoted nil-exercise-price LTI options (AAMAI, expiring 01-Jul-2026) ceased on 2 August 2024 after the vesting conditions of the 2021 LTI were not met, with no consideration paid. Following the cessation, issued capital comprises 525,834,322 ordinary fully paid shares plus various unquoted options and 9,968,086 performance rights.
CorporateApplication for quotation of securities - AAM
235,419 ordinary fully paid shares have been applied for quotation on the ASX, issued 2 August 2024 following the exercise of 2023 STI Options previously issued under an employee incentive scheme. The shares were issued for nil cash consideration, with an estimated value of $0.048 per security, and rank equally with existing shares. Following quotation, AuMEGA Metals will have 526,069,741 ordinary shares on issue.
FinancingCorporate Presentation - July 2024
A July 2024 corporate presentation for AuMEGA's Newfoundland projects, reporting a market capitalisation of A$24.7M, enterprise value of A$17.9M, 525M shares outstanding and a A$6.8M cash balance as at 30 June 2024, with B2Gold holding 9.7%. Cape Ray Mineral Resources stand at 6.2 Mt at 2.25 g/t for 450 koz indicated and 3.5 Mt at 1.4 g/t for 160 koz inferred. A targeting workshop identified 37 targets, 157 RC holes were completed at Malachite, and phase-one diamond drilling is complete with assays pending.
CorporateAuMEGA Completes Phase One of Diamond Drilling
The first phase of AuMEGA's 2024 diamond drilling program is complete, with approximately 1,900 metres drilled in the resource corridor at the Cape Ray Shear Zone, Newfoundland, targeting Central Zone at-depth, footwall and along-strike targets; assays are pending. The final hole was the deepest ever drilled at Central Zone. First-ever till surveying has begun at the Intersection Project, airborne magnetic surveys over Bunker Hill start shortly, and phase two drilling at Malachite is expected in coming weeks.
Drill resultsQuarterly Activities/Appendix 4C Cash Flow Report
The June 2024 quarter report shows a cash balance of approximately $6.2 million (A$6.8 million) at 30 June 2024, down from $7.7 million, with exploration spend of $1.2 million. The winter RC program at Malachite in Newfoundland drilled 157 holes and defined three mineralised zones, including O-2 West, where hole CRC0037 returned 627 ppb gold and 1.99% copper from six metres. Phase-one diamond drilling of eight holes for about 1,900 metres was completed on 12 July 2024, and TSXV trading began 26 June 2024 under AUM.
CorporateAuMEGA Appoints New Financial Auditor
Grant Thornton has been appointed auditor of AuMEGA Metals Ltd, effective 16 July 2024, following the resignation of Ernst & Young and ASIC's consent under s329(5) of the Corporations Act 2001. The selection followed a competitive process based on expertise and fee structure. A resolution to ratify the appointment will be put to shareholders at the Company's 2025 Annual General Meeting under s327C.
ManagementREISSUED Several New Exploration Targets Identified
A technical workshop led by structural geologist Brett Davis identified nine new structural and geochemical targets along the Cape Ray Shear Zone and Hermitage Flexure in Newfoundland, bringing AuMEGA's portfolio to 37 targets, of which 30 are early stage, five intermediate and two advanced. Target ranking and work programs are expected to be completed in the coming weeks. Phase one diamond drilling continues, with completion expected within a couple of weeks and assays pending. The release was reissued to add Competent Person's statements and prior announcement references.
Drill resultsAuMEGA Metals Identifies Several New Exploration Targets
A technical workshop led by structural geologist Brett Davis identified nine new structural and geochemical targets along the Cape Ray Shear Zone and Hermitage Flexure in Newfoundland, bringing AuMEGA's portfolio to 37 defined targets, of which 30 are early stage, five intermediate and two advanced. Three of the new targets (O-2 West, O-2 East and Grandy's East) came from the winter RC drill program at Malachite. Target ranking and work programs are expected in coming weeks, with phase one diamond drilling continuing and assays pending.
Drill resultsNotification of cessation of securities - AAM
120,000 unquoted options expiring 1 October 2027 with nil exercise price (AAMAM) ceased on 28 June 2024 due to lapse of a conditional right after conditions were not satisfied, with no consideration paid. Following the cessation, issued capital comprises 525,535,236 ordinary fully paid shares plus unquoted securities including 150,000 remaining AAMAM options, 9,968,086 performance rights and 14,622,833 options expiring 1 January 2029.
CorporateApplication for quotation of securities - AAM
299,086 ordinary fully paid shares will be quoted on the ASX from 28 June 2024 following the exercise of vested STI options issued under an employee incentive scheme. The shares comprise 73,500 from options expiring 1 July 2024 and 225,586 from options expiring 1 January 2027, both exercisable at nil and valued at A$0.058 each. Following quotation, AuMEGA Metals will have 525,834,322 ordinary shares on issue.
FinancingAuMEGA Metals Announces Secondary Canadian Listing
AuMEGA Metals has received formal approval from the TSX Venture Exchange for a secondary listing, with trading expected to commence 26 June 2024 under the symbol AUM. The Company retains its primary ASX listing under AAM, and there is no new share issuance or equity offering associated with the listing; shares will be fully fungible between exchanges. Total issued and outstanding shares following the listing will be 524,712,468.
CorporateChange of Company Name to AuMEGA Metals Ltd
Matador Mining Limited will be renamed AuMEGA Metals Ltd effective 14 June 2024, with its ASX trading symbol changing to AAM. The company is also in the process of changing its OTCQB trading symbol, currently MZZMF, to reflect the name change. AuMEGA is a gold exploration company in Newfoundland, Canada, with a defined Mineral Resource of 610,000 ounces grading 1.96 grams per tonne.
CorporateMatador Announces Start of 2024 Diamond Drilling
Phase one of the 2024 diamond drilling program has commenced at the Cape Ray Shear Zone project in Newfoundland and Labrador, Canada, targeting high-priority areas within the resource corridor, mainly Central Zone, plus follow-up drilling at Stag Hill 3.3 kilometres northeast along strike. Drilling is expected to continue through June 2024, with assays five to six weeks after samples reach the laboratory. Phase two, focused mainly on greenfield targets, is expected to begin during the Canadian summer.
Drill resultsApplication for quotation of securities - MZZ
An application has been lodged for quotation of 822,768 ordinary fully paid shares in Matador Mining Limited (MZZ), issued on 12 June 2024 on the exercise of nil-exercise-price options granted under an employee incentive scheme, for nil cash consideration. The tranches comprise 45,150 STI options expiring 1 July 2024, 45,000 options expiring 1 October 2027, 113,190 2022 STI ZEPOs and 619,428 2023 STI ZEPOs, with KMP Crispin Pike among the holders. Quoted shares on issue will total 525,535,236.
FinancingChange of Director's Interest Notice - S.Pazuki
Director Sam Pazuki acquired unquoted options and performance rights in Matador Mining Limited (to be renamed AuMEGA Metals Ltd) on 5 June 2024, comprising tranches of 255,592, 1,398,709, 2,359,308, 4,326,556, 5,449,514, 3,269,709, 4,995,304 and 1,33,938 securities valued at $0.136 or $0.050 each. The issue was approved by shareholders at the Annual General Meeting held on 30 May 2024. He continues to hold 2,270,922 fully paid ordinary shares, with no securities disposed.
CorporateChange of Director's Interest Notice - C.Marinkovich
Director Carol Marinkovich acquired an indirect interest in unquoted options and performance rights on 5 June 2024, held via her husband Graeme Marinkovich. The securities issued comprise 39,076, 213,839 and 1,315,932 zepo options, 440,972 and 837,674 LTI options, and 240,466 and 548,305 LTI performance rights, valued at $0.136 or $0.050 each. The issue was approved by shareholders at the Annual General Meeting held on 30 May 2024. Matador Mining Limited is to be renamed AuMEGA Metals Ltd.
CorporateNotification of cessation of securities - MZZ
A total of 2,475,334 unquoted options ceased on 7 June 2024: 1,560,334 MZZAG options expiring 01-Jul-2025 and 236,333 MZZAE options lapsed because vesting conditions were not met, and 678,667 MZZAI LTI options expiring 01-Jul-2026 were cancelled by agreement after the holder left the company. No consideration was paid. Issued capital now comprises 524,712,468 ordinary fully paid shares plus various unquoted options.
CorporateNotification regarding unquoted securities - MZZ
A total of 57,552,959 unquoted securities were issued on 5 June 2024 under the employee incentive scheme plan approved by shareholders at the 30 May 2024 AGM, comprising 460,835 2022 STI ZEPOs, 2,807,263 2023 STI ZEPOs, 3,613,664 2023 LTI performance rights, 6,626,824 2023 LTI options (exercise price A$0.136, expiring 1 January 2030), 14,622,833 2024 STI ZEPOs, 6,354,422 2024 LTI performance rights, 9,707,980 2024 LTI options and 13,359,138 in-lieu of CEO salary options (both at A$0.05). Quoted ordinary shares total 524,712,468.
NewsMatador Identifies Several New Diamond Drill Targets
Assay results from previously unsampled 2022 geotechnical diamond drillholes at the Central Zone, Cape Ray Project in Newfoundland and Labrador, Canada, returned 11 metres at 2.39 g/t gold (not true thickness) from the footwall in CGT006, including 0.55 metres at 8.2 g/t from 126.75 metres and 1 metre at 10.3 g/t from 135 metres, and 3 metres at 8.24 g/t from 127 metres in CGT005. Four remaining footwall holes are being prepared for assay. Phase one diamond drilling is expected to start in coming weeks, with an electro-magnetic survey planned for later in the summer.
Drill resultsProposed issue of securities - MZZ
Matador Mining Limited (ASX: MZZ) proposes to issue 13,359,138 In Lieu Options on 5 June 2024 at an issue price of AUD 0.00001 each, with an exercise price of AUD 0.0500 and expiry of 5 June 2031. The options are being issued in lieu of salary voluntarily foregone over a two-year period, as approved by shareholders under resolution 3 at the AGM held on 30 May 2024. A party referred to in listing rule 10.11 is participating, and quotation of the new class will not be sought.
FinancingMD/CEO Presentation - Peak Asset Management Event
An investor presentation delivered by Managing Director and CEO Sam Pazuki at the Peak Asset Management event in Melbourne was released. It outlines Matador Mining's Cape Ray Gold Project in Newfoundland, with indicated resources of 6.2 Mt @ 2.25 g/t Au for 450 koz and inferred resources of 3.5 Mt @ 1.4 g/t Au for 160 koz, a market capitalisation of A$42.0 million and cash of A$8.6 million. It also covers all assays received from the 157-hole Malachite RC program, the Blue Cove copper project with samples up to 10.6% copper and 91.6 g/t silver, and a new ASX ticker, AAM.
CorporateChair's Address to Shareholders
The Chair's address to the 2024 Annual General Meeting of Matador Mining outlined a spring/summer field program in Newfoundland including at least 5,000 metres of diamond drilling, starting in the resource corridor project area within weeks, followed later in the year by testing greenfields targets at the Malachite Project. The address noted approximately A$10.1 million raised in 2023, the April 2024 acquisition of the Blue Cove Copper Project in eastern Newfoundland, and the name change to AuMega Metals.
CorporateManaging Directors AGM Presentation
An AGM presentation covering the Cape Ray Gold Project in Newfoundland, Canada, states indicated resources of 6.2 Mt @ 2.25 g/t Au (450 koz) and inferred resources of 3.5 Mt @ 1.4 g/t Au (160 koz), for a total 9.7 Mt @ 1.96 g/t Au (610 koz), reported 29 May 2023, with about 96% of resources less than 150 metres below surface. Cash was A$8.6 million at 31 March 2024, with market capitalisation of A$42.0 million at 28 May 2024. Planned 2024 work includes 5,000 to 7,000 metres of diamond drilling on new resource corridor targets, follow-up to the completed 157-hole Malachite RC program, and early-stage programs at Hermitage, Blue Cove, Bunker Hill and Intersection.
CorporateMatadors RC Program Identifies New Large Gold Zone
Assay results from the remaining 110 drillholes of a 157-hole reverse circulation program at the Malachite Project on the Cape Ray Shear Zone, Newfoundland, identified new gold-in-bedrock anomalism, including CRC0142 grading 127 ppb gold from 6 to 7 metres. Anomalous gold, silver and arsenic were detected on three consecutive lines spanning about 1.2 kilometres of strike. Basal till hole CRC0083 returned 69 ppb gold at the O-2 target. Diamond drill targets will be finalised at a June 2024 workshop for drilling this year.
Drill resultsApplication for quotation of securities - MZZ
An application has been made for quotation of 51,387 ordinary fully paid shares (ASX: MZZ), issued 24 May 2024 on the exercise of options previously granted under an employee incentive scheme, comprising tranches of 17,787 and 33,600 securities each valued at A$0.070000. Following quotation, Matador Mining Limited will have 524,712,468 quoted ordinary shares on issue, plus various classes of unquoted options.
NewsNotification regarding unquoted securities - MZZ
A total of 51,387 fully paid ordinary shares (ASX: MZZ) were transferred on 24 May 2024 following the exercise of employee incentive scheme options, comprising 17,787 options from the MZZAE class and 33,600 from the MZZAH nil-exercise-price class expiring 1 July 2024. None were held by key management personnel. Following the issue, Matador Mining Limited has 524,661,081 quoted ordinary shares on issue.
NewsMZZ Commences Canadian Spring & Summer Field Expl Program
Field exploration has begun in Newfoundland and Labrador, Canada, and is expected to continue through the Canadian summer across Malachite, Cape Ray, Bunker Hill, Intersection, Hermitage and Blue Cove. Diamond drilling is planned in two phases, the first on new targets within the mineral resource corridor and the second later in the summer at Malachite, following 157 RC holes drilled in the winter. High-resolution airborne magnetics is planned at Bunker Hill and Hermitage, with a targeting workshop scheduled for June 2024.
Drill resultsMatador Mining Proposes Name Change to AuMega Metals
Matador Mining Limited (ASX:MZZ | OTCQB:MZZMF) intends to change its corporate name to AuMega Metals Ltd and its ASX trading symbol to AAM, subject to shareholder approval at the Annual General Meeting on 30 May 2024. The company cited its focus on gold exploration in Newfoundland, Canada, stakeholder feedback, and an expanding portfolio including silver, copper and antimony, plus an option over the Blue Cove Copper Project.
CorporateRIU Conference Presentation, Sydney
An investor presentation delivered at the RIU conference in Sydney covers the Cape Ray Gold Project in Newfoundland, Canada, with indicated resources of 6.2 Mt @ 2.25 g/t Au for 450 koz and inferred resources of 3.5 Mt @ 1.4 g/t Au for 160 koz, a market capitalisation of A$35.6 million and cash of A$8.6 million at 31 March 2024. At Malachite, assays have been received for 47 of 157 RC holes drilled, with 110 pending, and diamond drilling is possible in summer 2024. Shareholders will vote at the 30 May AGM on changing the company name to AuMega Metals Limited.
CorporateCorporate Presentation - May 2024
A May 2024 corporate presentation for Matador Mining (ASX: MZZ, OTCQB: MZZMF) covering its Newfoundland, Canada projects, with Cape Ray Gold Project mineral resources of 6.2 Mt at 2.25 g/t Au for 450 koz indicated and 3.5 Mt at 1.4 g/t Au for 160 koz inferred, reported 29 May 2023. Capital structure as at 29 April 2024 shows A$35.6 million market capitalisation, 525 million shares and A$8.6 million cash at 31 March 2024. Assays have been received for 47 of 157 Malachite RC holes, with 5,000 to 7,000 metres of diamond drilling targeted in 2024.
CorporateMZZ Option to Acquire High-Grade Copper Project in NFL
Matador Mining has entered an option agreement to acquire the Blue Cove Copper Project in southeastern Newfoundland, Canada, covering 78 non-contiguous claims over 19.5 km²; the company has also staked 113 additional claims covering 28.25 km², giving about 25 kilometres of combined contiguous strike. Terms are C$10,000 on execution, C$20,000 at 12 months and C$30,000 at 24 months for 100% ownership, plus a 1% NSR, half repurchasable for C$500,000. Historic sampling graded up to 10.6% copper and 106 g/t silver.
AcquisitionLetter to Shareholders - AGM
The Annual General Meeting of Matador Mining Limited (ACN 612 912 393) will be held at Level 5, 191 St George's Terrace, Perth, Western Australia on Thursday, 30 May 2024 at 9:00am (AWST). Hard copies of the Notice of Meeting will not be dispatched unless requested; it is available on the company website. Proxy voting instructions must be received by 9:00am (AWST) on Tuesday, 28 May 2024, and questions submitted at least 48 hours before the meeting.
CorporateNotice of Annual General Meeting/Proxy Form
Matador Mining Limited will hold its Annual General Meeting at Level 5, 191 St George's Terrace, Perth, Western Australia at 9:00am (AWST) on Thursday, 30 May 2024, with voting entitlements set at 5:00pm (AWST) on 28 May 2024. Shareholders will vote on 16 resolutions, including the remuneration report, re-election of Kerry Sparkes, an Employee Securities Incentive Plan of up to 85,000,000 securities, incentive securities for Sam Pazuki and Carol Marinkovich, a Listing Rule 7.1A mandate, and changing the company name to AuMega Metals Ltd.
CorporateNotification regarding unquoted securities - MZZ
Matador Mining Limited issued 1,507,113 unquoted Advisory Options on 26 April 2024, exercisable at AUD 0.044 and expiring 26 April 2031, for no cash consideration as payment for services. Half (753,556) have vested immediately and 753,557 vest on 26 April 2025, with the issue to be ratified at the AGM. Following the issue, the company has 524,661,081 ordinary fully paid shares on issue.
NewsProposed issue of securities - MZZ
Matador Mining Limited (ASX: MZZ) proposes to issue 1,507,113 unlisted Advisory Options on 26/4/2024, exercisable at A$0.0440 and expiring 26/4/2031, with no cash consideration. The options, valued in aggregate at A$56,000 (A$0.0377 per option on a Black Scholes basis), are part consideration for corporate advisory services provided by Sagepoint. Half (753,556) vest immediately and half (753,557) vest 12 months from issue, using the company's 15% placement capacity, with ratification to be sought at the AGM.
FinancingInitial RC Program Results Reveals Extensive Gold Anomalies
Assay results from the first 47 of 157 reverse circulation drillholes at the Malachite Project on the Cape Ray Shear Zone, Newfoundland, identified two mineralised zones west of the O-2 target. Hole CRC0037 returned 627 ppb (0.63 g/t) gold and 1.99% copper from 7 to 8 metres and 224 ppb gold from 8 to 9 metres, while CRC0004 returned 155 ppb gold from 4 to 5 metres. Assays for the remaining 110 holes are expected later in May 2024.
Drill resultsQuarterly Activities/Appendix 5B Cash Flow Report
Operating cash outflows for the March 2024 quarter were $0.5 million and exploration expenditure $0.8 million, leaving a cash balance of $7.7 million (A$8.6 million) at 31 March 2024, versus $9.0 million the prior quarter. The Malachite RC drilling program in Newfoundland, Canada was completed in early April with 157 holes drilled, with assays pending; a 5,000 to 7,000 metre diamond drilling program is expected to start in June 2024. At Hermitage, an interpreted North Limb Fault structure is associated with multigram gold mineralisation over seven kilometres of strike, and additional claims were staked.
CorporateMatador Completes Successful RC Drill Program at Malachite
AuMEGA Metals (formerly Matador Mining) completed its maiden reverse circulation drill program at the Malachite project in Newfoundland, Canada, finishing about 80% of the designed program, including all holes at the high-priority O-2 target, before curtailing due to adverse weather. The O-2 program comprised 158 holes; fire assays from the first 47 holes are expected in the near term with the remainder in May 2024. A 5,000 to 7,000 metre diamond drilling program is expected to start in June 2024.
Drill resultsBecoming a substantial holder
Precious Capital Global Mining and Metals Fund, through LLB Swiss Investment AG, became a substantial holder in Matador Mining Limited on 28 March 2024, holding 26,950,597 ordinary fully paid shares for voting power of 5.14%. Of these, 22,169,985 shares were acquired for cash totalling $1,100,178.57 between 27 November 2023 and 28 March 2024, at prices ranging from 0.0346 to 0.0588 AUD per share.
CorporateAGM Key Dates & Director Nominations
Matador Mining Limited will hold its Annual General Meeting on Thursday, 30 May 2024, with the Notice of Meeting to be announced to ASX and provided to shareholders in late April 2024. The election of directors is an item of business, and nominations from persons wishing to stand must be received by 5:00pm (AWST) on Monday, 15 April 2024 at the Company's registered office at 24 Hasler Road, Osborne Park WA 6017, or by email.
CorporateCorporate Governance Statement
A corporate governance statement for the financial year ended 31 December 2023, accurate as at 28 March 2024, reports Matador Mining Limited's compliance with the ASX Corporate Governance Council's Principles and Recommendations (4th Edition). The Board comprises five directors, three of them independent non-executive directors, and has an Audit and Risk Committee and a Remuneration and Nomination Committee but no separate risk committee or internal audit function. The Company has not set measurable gender diversity objectives, citing its scope of activity and employee numbers.
CorporateAnnual Report to shareholders
The 2023 annual report for the period ending 31 December 2023 reports an updated JORC Mineral Resource Estimate for the Cape Ray Gold Project in Newfoundland, Canada of 9.7 million tonnes at 1.96 g/t gold for 610,000 ounces, incorporating about 36,000 metres of diamond drilling since the May 2020 estimate. The company raised approximately A$10.1 million before costs during the year and closed 2023 with cash of C$8.3 million. Loss after tax was $6,630,286.
CorporateMZZ Identifies Major Structure at Hermitage & Stakes Claims
Interpretation of two years of prospecting, sampling and historic data, including low-resolution airborne magnetics, has defined a structure named the North Limb Fault running parallel to a regional fold limb across almost the entire 27-kilometre strike of the Hermitage Project in Newfoundland, Canada. Additional claims have been staked within and adjacent to Hermitage, including ground hosting a 1989 INCO grab sample grading 3.94 g/t gold. The winter drill program has completed over 110 holes, with assays pending on 45 holes sent to the laboratory in late February 2024.
CorporateCorporate Presentation - February 2024
A February 2024 corporate presentation for Matador Mining (ASX: MZZ, OTCQB: MZZMF) sets out a market capitalisation of A$18.9 million, enterprise value of A$8.8 million, 525 million shares outstanding and a cash balance of A$10.1 million as at 31 December 2023, with B2Gold holding 9.7%. Cape Ray Gold Project resources in Newfoundland total 9.7 Mt at 1.96 g/t Au for 610 koz. Planned 2024 work includes a 2,000–3,000 metre RC program at Malachite and 5,000–7,000 metres of diamond drilling in the resource corridor.
CorporateBMO Conference Attendance
Matador Mining will participate in the 33rd Annual BMO Global Metals, Mining & Critical Minerals Conference in Florida, United States, running from Sunday, 25 February to Wednesday, 28 February 2024. Management will host one-on-one meetings during the conference, with interested investors directed to their BMO Capital Markets representative or the Company. Matador's gold Mineral Resource in Newfoundland, Canada currently stands at 610,000 ounces grading 1.96 grams per tonne.
CorporateMatador Commences Winter RC Drilling at Malachite
Reverse circulation drilling has begun at the O-2 target at the Malachite project in Newfoundland, Canada, marking the start of Matador Mining's 2024 exploration field season. The program covers about 2,000 to 3,000 metres across a minimum of 200 holes averaging around ten metres deep, using basal-till and bottom-of-hole sampling beneath glacial till and overburden. Assay results are expected generally four to six weeks after samples reach the laboratory, and are intended to define targets for future diamond drilling.
Drill resultsApplication for quotation of securities - MZZ
Matador Mining Limited has applied for quotation of 33,600 ordinary fully paid shares, issued 5 February 2024 on the exercise of 2021/2022 STI unlisted options (MZZAH, expiring 1 July 2024) for nil cash consideration, with an estimated value of A$0.04 per security. Following quotation, the company will have 524,661,081 ordinary shares on issue, plus various classes of unquoted options.
FinancingQuarterly Activities/Appendix 5B Cash Flow Report
Quarterly activities report for the December 2023 quarter, ending with $9.0 million (A$10.1 million) cash on hand after a multi-tranche financing raising A$9.5 million before costs, including an oversubscribed share purchase plan of A$3.7 million and 116,244,525 shares at an average A$0.050. Operating cash outflow was $0.6 million and exploration expenditure $1.4 million. Diamond drilling on the Cape Ray Shear Zone, Newfoundland confirmed gold in basement at Long Range (3.0 metres at 0.51 g/t gold from 99.0 metres) and Grandy's. RC drilling at Malachite is planned from early February 2024, with 5,000–7,000 metres of diamond drilling from May.
CorporateFavourable Resolution to Mineral Tenements
Three key exploration tenements in Newfoundland that had been inadvertently cancelled by the regulator due to a clerical error have been reinstated in Matador Mining's name, with all tenements now in good standing and no other change to the Company's mineral rights. Trading in Matador securities had been halted while the matter was resolved. The winter Reverse Circulation drill program remains on plan to commence in early February, with the RC rig arrived in Newfoundland and in transit to Malachite.
CorporateMatador Announces its Comprehensive 2024 Exploration Program
A 2024 exploration program for Newfoundland, Canada includes approximately 2,000 to 3,000 metres of RC drilling at the O2 target at Malachite, comprising a minimum 200 holes averaging ten metres depth, starting in early February 2024, weather dependent. Between 5,000 and 7,000 metres of diamond drilling on Resource Corridor targets including Window Glass Hill and Central Zone is expected to begin in May 2024. Work also covers advanced prospecting at Hermitage, airborne magnetics at Bunker Hill, and geochemistry at Intersection.
Drill resultsApplication for quotation of securities - MZZ
Matador Mining Limited applied for quotation of 11,527,375 ordinary fully paid shares (ASX: MZZ) with an issue date of 4 January 2024, issued for cash at AUD 0.04 per security. The placement was previously notified in an Appendix 3B dated 25 October 2023 and approved by shareholders at the General Meeting held 15 December 2023. Following quotation, quoted ordinary shares on issue will total 524,627,481.
FinancingChange in substantial holding
A Form 604 notice for Matador Mining Limited reports that Matador's relevant interest changed on 21 December 2023, moving from 42,827,529 shares (10.86%) to 51,010,590 shares (9.94%). The change arose from the issue of 8,182,761 shares to B2Gold Corp. for consideration of $327,310.44 under a subscription agreement, following shareholder approval for ASX Listing Rule 7.1 purposes at the general meeting held on 15 December 2023.
Corporate
202386 releases
Change in substantial holding - B2Gold
B2Gold Corp.'s interest in Matador Mining Limited changed on 21 December 2023, moving from 42,827,829 shares (10.86% voting power) to 51,010,590 shares (9.94%). The change followed the issue on 20 December 2023 of 8,182,761 shares for $327,310.44, being the Tranche 2 Subscription at $0.04 per share under the subscription agreement between Matador and B2Gold. Proceeds from the Tranche 2 shares are to be used for Matador's general working capital purposes.
CorporateChange of Director's Interest Notice - J.Osborne
Director Justin Osborne acquired an indirect interest in 500,000 fully paid ordinary shares at $0.04 per share on 21 December 2023, issued following shareholder approval at the General Meeting held on 15 December 2023. The notice, filed by Matador Mining Limited, also records the lapse of 300,000 unquoted options exercisable at $0.63 on expiry 18/11/23. Osborne's indirect holdings after the change total 1,690,870 fully paid ordinary shares and 824,175 unquoted options.
CorporateChange of Director's Interest Notice - S.Pazuki
Director Sam Pazuki acquired 750,000 fully paid ordinary shares in Matador Mining Limited on 21 December 2023 at $0.04 per share, issued following shareholder approval at the General Meeting held on 15 December 2023. His direct holding increased to 2,270,922 fully paid ordinary shares, plus 2,750,000 unquoted options.
CorporateChange of Director's Interest Notice - C.Marinkovich
Director Carol Marinkovich acquired an indirect interest in 250,000 fully paid ordinary shares at $0.04 per share on 21 December 2023, held through her husband Graeme Marinkovich. The shares were issued as placement shares approved by shareholders at the general meeting on 15 December 2023. Her holdings after the change are 324,503 ordinary shares, 165,000 unlisted options expiring 01/07/2026 and 569,620 unlisted options expiring 01/03/2029.
CorporateChange of Director's Interest Notice - N.Adshead-Bell
Director Nicole Adshead-Bell's indirect holding through Cupel Advisory Corp increased by 500,000 fully paid ordinary shares at $0.04 per share on 21 December 2023, issued following shareholder approval at the General Meeting held on 15 December 2023. Also, 300,000 unquoted options exercisable at $0.63 lapsed on expiry on 18 November 2023. She holds 521,739 shares directly and 680,000 shares indirectly after the change.
CorporateNotification regarding unquoted securities - MZZ
1,792,810 unquoted advisory options were issued on 22 December 2023, exercisable at AUD 0.045 and expiring 22 December 2030, in part consideration for corporate advisory services provided by Sagepoint. No cash consideration is payable. The issue was approved by shareholders at a general meeting on 15 December 2023, following an Appendix 3B lodged on 8 November 2023. Ordinary fully paid shares on issue total 500,988,215.
NewsApplication for quotation of securities - MZZ
12,111,891 ordinary fully paid shares were issued on 21 December 2023 at AUD 0.04 per security for cash consideration, under a placement previously announced on 25 October 2023, and have been applied for quotation on ASX. Further placement shares remain to be issued as approved by shareholders at the general meeting held 15 December 2023. Following quotation, quoted ordinary shares on issue total 513,100,106.
FinancingApplication for quotation of securities - MZZ
Matador Mining has applied for quotation of 13,531,384 ordinary fully paid shares, issued 18 December 2023 at AUD 0.042 per security. The shares are Tranche 2 Series 2 Flow Through Shares approved by shareholders at the General Meeting held on 15 December 2023 (Resolution 4). Following quotation, the company will have 500,988,215 quoted ordinary shares on issue, with further placement shares still to be issued.
FinancingMatador Announces Heavily Oversubscribed SPP
Matador Mining's Share Purchase Plan, which closed on 4 December 2023, received applications totaling approximately $4.1 million against an initial target of $1.5 million, and the Board resolved to accept $3.7 million. Combined with the recent capital raising, total gross proceeds are approximately $9.5 million, of which about $2.0 million is subject to shareholder approval at the 15 December 2023 Meeting of Shareholders. SPP shares are expected to be allotted on 8 December 2023 and begin trading on 11 December 2023.
FinancingApplication for quotation of securities - MZZ
93,187,500 ordinary fully paid shares were issued on 8 December 2023 at AUD 0.04 per security under a securities purchase plan previously notified to ASX in an Appendix 3B dated 25 October 2023, and have been applied for quotation under the code MZZ. Following quotation, Matador Mining Limited will have 487,456,831 quoted ordinary shares on issue, plus unquoted options. No further issues remain to complete the transaction.
FinancingMatador Announces Virtual Fireside Chat
A virtual fireside chat with Managing Director and CEO Sam Pazuki will be held on Friday, 24 November 2023 at 11:00am AEDT (Thursday, 23 November 2023, 7:00pm US Eastern Daylight time), covering a business update including early plans for 2024 exploration and investor questions. Matador Mining is a gold explorer in Newfoundland, Canada, with a Mineral Resource of 610,000 ounces grading 1.96 grams per tonne. Registration is via Zoom webinar.
CorporatePrecious Metals Summit Zurich Presentation
An investor presentation delivered by Managing Director and CEO Sam Pazuki at the 2023 Precious Metals Summit in Zurich, Switzerland covers the company's Newfoundland gold portfolio. It states a Cape Ray Gold Project Mineral Resource of 9.7 Mt at 1.96 g/t Au for 610 koz, comprising 6.2 Mt at 2.25 g/t Au indicated (450 koz) and 3.5 Mt at 1.4 g/t Au inferred (160 koz). Cash is C$2.8 million with no debt, alongside a C$5.1 million / A$5.8 million capital raising.
CorporateNotice of General Meeting and Letter to Shareholders
Notice of a General Meeting of Matador Mining Limited to be held at 24 Hasler Road, Osborne Park, Western Australia on Friday, 15 December 2023 at 9:00am (AWST), with proxies due by 9:00am (AWST) on 13 December 2023. Eleven resolutions cover ratification of 36,271,600, 31,507,133 and 10,996,563 previously issued shares, approval to issue 13,531,384 Tranche 2 Series 2 FT shares at A$0.042 per share, up to 23,764,266 placement shares, 8,182,761 placement shares to a Canadian accredited investor, 1,792,810 options, and placement shares to directors Sam Pazuki, Justin Osborne, Nicole Adshead-Bell and Carol Marinkovich.
CorporateAdditional Positive Results Phase 2 Prospecting at Hermitage
Additional Phase 2 prospecting, sampling and mapping results from the eastern portion (the Nose) of the Hermitage property in Newfoundland, Canada, included 897 ppb gold with 1.44% arsenic and 66.58 ppm antimony in outcrop sample MR002786, and 215 ppb gold with 0.80% arsenic in MR002592. Three samples returned greater than 100 ppb gold for follow-up, and several samples contained visible stibnite. Follow-up work in 2024 aims toward bottom-of-hole RC drilling in the second half of 2024.
Drill resultsChange in substantial holding - B2 Gold
B2Gold Corp. increased its holding in Matador Mining Limited to 42,827,529 fully paid ordinary shares, or 10.86% voting power, from 31,010,290 shares (9.84%). The change occurred on 3 November 2023 through the issue of 11,817,239 shares under a subscription agreement between Matador and B2Gold, for consideration of $472,689.56.
CorporateChange in substantial holding
A Form 604 notice reports that Matador Mining Limited's relevant interest in its own shares rose from 31,010,290 shares (9.84%) to 42,827,529 shares (10.86%) following a change on 03/11/2023. The change arose from the issue of 11,817,239 shares to B2Gold Corp. for $472,689.56, or $0.04 per share, under a subscription agreement, with those shares subject to a four month voluntary escrow arrangement. A second tranche of 8,182,761 shares at $0.04 ($327,310.44) is conditional on shareholder approval.
CorporateProposed issue of securities - MZZ
Matador Mining Limited (ASX:MZZ) proposes to issue 1,792,810 advisory options, a new class, on 22 December 2023, exercisable at AUD 0.0450 and expiring 18 December 2030, each converting to one fully paid ordinary share. The options carry no cash consideration and are issued in part consideration for corporate advisory services provided by Sagepoint, with an estimated AUD equivalent value of 0.315100. The issue is subject to security holder approval at a meeting proposed for 18 December 2023.
FinancingCleansing Notice Pursuant to Share Purchase Plan
A cleansing notice has been issued for a share purchase plan announced to the ASX on 3 November 2023, under which Matador Mining Limited will offer fully paid ordinary shares without disclosure to investors under Part 6D.2 of the Corporations Act. The notice confirms compliance with Chapter 2M and sections 674 and 674A, and states there is no excluded information requiring disclosure.
AcquisitionApplication for quotation of securities - MZZ
10,996,563 ordinary fully paid shares were issued on 3 November 2023 at AUD 0.042 per share and applied for quotation on ASX, under a placement previously announced on 25 October 2023. Following quotation, Matador Mining Limited will have 394,269,331 quoted ordinary shares on issue. Series 2 flow-through shares and the Traditional Placement shares are yet to be issued.
FinancingApplication for quotation of securities - MZZ
Quotation has been applied for 67,778,733 ordinary fully paid MZZ shares, issued 1 November 2023 at AUD 0.056 per security for cash, as part of the placement previously announced on 25 October 2023. Series 2 flow-through shares and the Traditional Placement shares are yet to be issued. Following quotation, Matador Mining Limited will have 383,272,768 quoted ordinary shares on issue, plus various unquoted options.
FinancingCorporate Presentation - November 2023
A November 2023 corporate presentation for the Cape Ray Gold Project in Newfoundland restates the 30 May 2023 mineral resource of 9.7 Mt at 1.96 g/t Au for 610 koz, comprising 6.2 Mt at 2.25 g/t (450 koz) indicated and 3.5 Mt at 1.4 g/t (160 koz) inferred. It also details an oversubscribed financing raising about A$5.8 million at an average A$0.050 per share, a share purchase plan closing 4 December 2023, cash of C$2.8 million and no debt.
CorporateDisclosure Document - Prospectus
A prospectus lodged with ASIC on 27 October 2023 offers 67,778,733 shares at C$0.0485 each to raise C$3,287,269 (A$3,795,609 at A$0.056 per share) under the Series 1 flow-through placement to Canadian investors, plus a cleansing offer of up to 10,000 shares to raise up to C$485. Proceeds are intended for diamond drilling, RC drilling for bottom of hole/basal till and early stage exploration at the company's projects. It forms part of a previously announced A$5.8 million capital raising.
FinancingQuarterly Activities/Appendix 5B Cash Flow Report
Cash at 30 September 2023 was $2.8 million (A$3.2 million), down from $5.5 million (A$6.2 million) the prior quarter, with operating cash outflow of $2.7 million including $1.9 million of exploration spending. Subsequent to quarter end, Matador raised approximately A$5.8 million through the issue of 116,244,525 shares at an average A$0.050, comprising two Canadian flow-through placements and a A$1.0 million placement, plus a share purchase plan targeting A$1.5 million at A$0.040. The company will not proceed with a TSX Venture reverse takeover.
CorporateOversubscribed Equity Financing Of A$5.8 Million
Firm commitments have been received for approximately A$5.8 million (before costs) through the issue of 116,244,525 shares at an average price of A$0.050 per share, comprising a ~A$3.8 million flow-through placement at A$0.056, a ~A$1.0 million flow-through placement at A$0.042 and a A$1.0 million hard dollar placement at A$0.040. A Share Purchase Plan for Australian and New Zealand shareholders targets A$1.5 million at A$0.040 per share. Flow-through proceeds are allocated to exploration in Newfoundland, Canada; other proceeds to working capital.
FinancingProposed issue of securities - MZZ
A share purchase plan will offer eligible shareholders with registered addresses in Australia or New Zealand new ordinary shares at AUD 0.04 each, with a maximum of 37,500,000 shares issuable and individual acceptances of $2,500 to $30,000 in set parcels. The record date was 24/10/2023, the offer opens 8/11/2023 and closes 4/12/2023, with issue on 8/12/2023, subject to security holder approval estimated 30/11/2023. Funds are for general working capital, with pro rata scale back if oversubscribed.
FinancingMatador Confirms Gold in Basement at Long Range and Grandys
Results from Matador Mining's 2023 reconnaissance diamond drill program at Malachite, Long Range and Grandy's on the Cape Ray Shear Zone in southwest Newfoundland, Canada confirmed gold in basement rocks at Long Range and Grandy's. Long Range intercepts, from five holes for 1,182 metres, included 3.0 metres at 0.51 g/t gold from 99.0 metres (CRD369) and 3.43 metres at 0.49 g/t gold from 32.17 metres (CRD366), with 43 samples above 100 ppb gold. Five holes for 805 metres at Grandy's returned 18 samples above 100 ppb gold and broad alteration zones; Malachite holes returned no anomalous bedrock gold.
Drill resultsChange of Director's Interest Notice - N.Adshead-Bell
Director Nicole Adshead-Bell acquired 60,000 fully paid ordinary shares on 6 October 2023 through the exercise of 60,000 vested director retention options at $0.047 per share, held indirectly via Cupel Advisory Corp. Following the change, her indirect holding is 180,000 ordinary shares and 300,000 unquoted options, with a direct holding of 521,739 ordinary shares. The notice was filed under the name Matador Mining Limited.
CorporateApplication for quotation of securities - MZZ
An application has been lodged for quotation of 60,000 ordinary fully paid shares in Matador Mining Limited (MZZ), issued on 6 October 2023 on exercise of vested director retainer options granted under an employee incentive scheme. The options were exercised by KMP Nicole Adshead-Bell, registered holder Cupel Advisory Corp, with consideration valued at an estimated A$0.047000 per security. Following quotation, the company will have 315,494,035 ordinary shares on issue.
FinancingCorporate Presentation - October Webcast
A corporate update webcast presentation dated 4 October 2023 sets out Matador Mining's position at the Cape Ray Gold Project in Newfoundland, with a mineral resource of 9.7 Mt at 1.96 g/t Au for 610 koz (450 koz indicated, 160 koz inferred), 315 million shares outstanding, a market capitalisation of $18 million, cash of C$5.5 million / A$6.0 million and no debt. The refined exploration strategy mixes brownfields drilling at Cape Ray and Isle aux Morts with greenfields work across a 750 square kilometre land package, including Malachite, Long Range, Hermitage and Bunker Hill. Assays are pending from five holes each at Long Range and Grandy's.
CorporateMatador Provides Status Update on Assay Results and Webcast
Final assay results from Matador Mining's 2023 drill program, plus additional prospecting assays from Long Range, Malachite and Hermitage in Newfoundland, remain outstanding after quality control/quality assurance issues were identified with preliminary results from service provider SGS. The Company is working with SGS to establish timing of final results. A webcast to discuss results and strategy will be held Wednesday, 4 October 2023, 10:30am AEST (Tuesday, 3 October, 7:30pm EDT), with a playback posted within 24 hours.
Drill resultsMatador Provides Exploration Strategy Update
Matador Mining set out a revised exploration strategy for its Cape Ray Gold Project and Hermitage prospect in Newfoundland, Canada, following a summer program and reviews with B2Gold exploration executives and structural geologist Brett Davis. Structural work concluded gold was emplaced during a regional sinistral event, opening the Cape Ray Shear Zone as new search space. Future work will combine Brownfields and Greenfields targets, categorised as early, intermediate and advanced stage, using diamond drilling, bottom-of-hole and basal till sampling and geophysics.
CorporateProspecting Results Demonstrate StrongPotential at Hermitage
Reconnaissance prospecting, mapping and sampling at the Hermitage property in Southern Newfoundland, Canada returned peak values of 2.15 g/t gold with 72.73 ppm bismuth and 1.39 g/t gold with 135 ppm bismuth from outcrop samples, with 17 samples exceeding 100 ppb gold. A second gold occurrence was identified seven kilometres northwest of the 2022 discovery, with samples of 0.72 g/t and 0.43 g/t gold spanning 30 metres of strike and arsenic peaking at 3.8%. Results for a further 153 samples are pending.
Drill resultsPrecious Metals Summit Presentation UPDATED
An updated investor presentation for the 2023 Precious Metals Summit was released, covering the Cape Ray Gold Project in Newfoundland and its updated Mineral Resource of 9.7 Mt at 1.96 g/t Au for 610 koz Au, comprising 6.2 Mt at 2.25 g/t Au Indicated (450 koz) and 3.5 Mt at 1.4 g/t Au Inferred (160 koz). Phase one 2023 drilling of ~2,500 metres at Long Range, Grandy's and Malachite is complete with assays pending; RC drilling permits were received but the program was deferred. Cash stood at C$5.5 million with no debt.
CorporatePrecious Metals Summit Presentation
A corporate presentation for the 2023 Precious Metals Summit covers the Cape Ray Gold Project in Newfoundland, with indicated and inferred resources of 9.7 Mt at 1.96 g/t Au for 610 koz, a cash balance of C$5.5 million / A$6.0 million and no debt. Phase one of the 2023 program comprised about 2,500 metres of diamond drilling at Long Range, Grandy's and Malachite, with assays pending, and nearly 800 prospecting samples collected. Planned RC drilling has been deferred, possibly to a winter program.
CorporateHalf Yearly Report and Accounts
Half-year results for the period ended 30 June 2023 show a loss after tax of $2,160,874 and a cash balance of $5,512,679 (A$6.2 million) at 30 June 2023, down from $8,326,388 at 31 December 2022, with directors noting additional working capital will be required through to 30 September 2024. The Cape Ray Gold Project in Newfoundland, Canada carries a May 2023 JORC resource of 9.7 million tonnes at 1.96 g/t for 610,000 ounces of gold. First-phase diamond drilling at Long Range, Grandy's and Malachite is complete with assays pending, and the company decided not to proceed with a proposed reverse take-over.
CorporateNotification of cessation of securities - MZZ
678,667 unquoted options (ASX code MZZAE, expiring various dates at various exercise prices) ceased on 1 September 2023, lapsing because the conditions were not met; these were 2020 LTI options. No consideration is being paid for the cessation. Following the change, Matador Mining has 315,434,035 quoted ordinary fully paid shares on issue, plus various classes of unquoted options including 314,120 remaining MZZAE options.
CorporateApplication for quotation of securities - MZZ
An application has been made to quote 75,000 ordinary fully paid MZZ shares issued on 28 August 2023 for nil cash consideration, valued at an estimated $0.055000 per security, in connection with the option agreements acquired for Hermitage announced on 28 August 2023. Further issues of 100,000, 200,000 and 300,000 shares are due on the one-, two- and three-year anniversaries. Following quotation, 315,434,035 ordinary shares will be on issue.
NewsMatador Mining Acquires Option Agreements For Hermitage
Two option agreements have been entered into for mineral licences adjacent to and contiguous with the eastern portion of the Hermitage property in Newfoundland, Canada. The three-year agreement requires cash payments and share issuances at milestones: C$10,000 and 75,000 shares on the effective date, C$15,000 and 100,000 shares at one year, C$25,000 and 200,000 shares at two years, and C$35,000 and 300,000 shares at three years, plus a 1% NSR, half repurchasable for C$500,000. Registered ownership transferred on 25 August 2023.
AcquisitionProposed issue of securities - MZZ
Matador Mining Limited (MZZ) will issue up to 675,000 fully paid ordinary shares for nil cash consideration in connection with two new option agreements over additional mineral licences adjacent to its Hermitage property. The shares are staged over three years: 75,000 within 10 days, 100,000 on 25/8/24, 200,000 on 25/8/25 and 300,000 on 25/8/26, with cash payments of C$10,000, C$15,000, C$25,000 and C$35,000 respectively. The proposed issue date is 31/8/2023, using the 15% placement capacity under listing rule 7.1.
FinancingMatador Announces Results of Long Range Prospecting
Assay results from prospecting at the Long Range target on the Cape Ray Shear Zone in southwestern Newfoundland, Canada, returned a peak of 4.38 g/t gold with 1.38% copper from a float sample (MR001585), plus 3.54 g/t gold (MR001106), 2.33 g/t gold (MR001582) and 1.02 g/t gold (MR001584); eight samples exceeded 100 ppb gold. Pathfinder anomalism included 107 g/t silver, 215 ppm bismuth and 3.27% lead in MR001280. At least four kilometres of strike remain untested, and assays are pending for five diamond drillholes.
Drill resultsChange of Directors Interest Notice - J.Osborne
Director Justin Osborne acquired an indirect interest in 150,000 fully paid ordinary shares of Matador Mining Limited via an on-market purchase at $0.058 per share on 1 August 2023, held through Janet Tunjic Pty Ltd <Tunoz Family A/C>. Following the change, his indirect holdings comprise 1,190,870 fully paid ordinary shares and 1,124,175 unquoted options. The trade did not occur during a closed period.
CorporateCorporate Presentation - August 2023
A corporate presentation dated August 2023 sets out the Cape Ray Gold Project mineral resource in Newfoundland of 9.7 Mt at 1.96 g/t Au for 610 koz, comprising 6.2 Mt at 2.25 g/t for 450 koz indicated and 3.5 Mt at 1.4 g/t for 160 koz inferred. The company reports 315 million shares outstanding, an $18 million market capitalisation, cash of C$5.5 million/A$6.0 million and no debt, with B2Gold Corp. a holder above 5%. Diamond drilling is underway at Malachite, with Grandy's and Long Range assays pending.
CorporateChange of Directors Interest Notice - S.Pazuki
Director Sam Pazuki acquired 673,096 fully paid ordinary shares of Matador Mining Limited in on-market trades on 28 July 2023 and 31 July 2023, at an average price of $0.05675 per share. His direct holding increased from 847,826 to 1,520,922 fully paid ordinary shares, with 2,750,000 unquoted options unchanged.
CorporateQuarterly Activities/Appendix 5B Cash Flow Report
Cash on hand at 30 June 2023 was $5.5 million (A$6.2 million), down from $7.2 million (A$8.0 million) the prior quarter, with operating cash outflow of $1.3 million and $1.4 million spent on exploration. Diamond drilling at the Cape Ray Gold Project in Newfoundland began in June, with five holes completed at Long Range and two of four at Grandy's, plus about 400 rock samples from Hermitage; assays pending. The company will not proceed with a reverse take-over for a Canadian listing.
CorporateNotification of cessation of securities - MZZ
2,000,000 unquoted options (MZZAF, expiring 01-Jul-2023, nil exercise price) ceased on 1 July 2023 through expiry without exercise or conversion, with no consideration paid by Matador Mining Limited. Following the cessation, issued capital comprises 315,359,035 quoted ordinary fully paid shares plus various classes of unquoted options.
CorporateChange of Directors Interest Notice - J.Osborne
Director Justin Osborne acquired 60,000 fully paid ordinary shares through the exercise of vested options at $0.06 per option on 20 June 2023, with 60,000 options disposed. The interest is held indirectly via Janet Tunjic Pty Ltd. The notice was lodged by Matador Mining Limited under listing rule 3.19A.2, and states the trades did not occur during a closed period.
CorporateApplication for quotation of securities - MZZ
Matador Mining Limited has applied for quotation of 140,201 ordinary fully paid shares (ASX: MZZ) with an issue date of 20/06/2023, comprising 80,201 shares from 2020 STI options and 60,000 from tranche 3 of director on-boarding options, both issued for nil cash consideration at an estimated value of A$0.061 per security. Following quotation, the company will have 315,359,035 ordinary fully paid shares on issue.
FinancingNotification regarding unquoted securities - MZZ
569,620 unlisted director options were issued on 13 June 2023 under an employee incentive scheme, with a nil exercise price and an expiry date of 1 March 2029. The options were approved by shareholders at the annual general meeting held on 31 May 2023 under Resolution 4, and were issued to key management personnel Carol Marinkovich. Following the issue, the company has 315,218,834 ordinary fully paid shares quoted on ASX.
NewsChange of Directors Interest Notice - C.Marinkovich
Director Carol Marinkovich acquired an indirect interest in 569,620 unlisted options expiring 1 March 2029, valued at $0.079 per option, with the change effective 13 June 2023. The options were issued as approved by shareholders at the AGM on 31 May 2023 and are held by Graeme Marinkovich (husband). Her holdings now comprise 74,503 ordinary fully paid shares, 165,000 unlisted options expiring 1 July 2026 and the new options.
CorporateCorporate Presentation - June 2023
A June 2023 corporate presentation for the Cape Ray Gold Project in Newfoundland, Canada, sets out an updated Mineral Resource of 9.7 Mt at 1.96 g/t Au for 610 koz Au, comprising 6.2 Mt at 2.25 g/t Au indicated (450 koz) and 3.5 Mt at 1.4 g/t Au inferred (160 koz), a 28% increase in indicated resources. Cash stands at C$7.2 million with no debt, and diamond drilling has commenced at Long Range, with further drilling planned at Malachite and Grandy's.
CorporateMatador Mining Commences 2023 Diamond Drilling
The 2023 diamond drilling program has begun in Newfoundland, Canada, targeting structural and lithological targets along the Cape Ray Shear Zone, with Malachite as the primary target. Phase 1 will also include inaugural drilling at the Long Range and Grandy's target areas, with holes expected to range between 100 and 200 metres in depth. A second phase is planned for the Canadian summer of 2023, guided by Phase 1 results, and the program is scalable.
Drill resultsChairmans Address to Shareholders
The Chair's address to Matador Mining's 2023 Annual General Meeting reported on the six months to December 2022 following the change of fiscal year to align with the calendar year, and noted Carol Marinkovich's appointment to the Board and Ryan Finkelstein as Interim Chief Financial Officer. The 2023 exploration program covers the Malachite, Long Range and Grandy's targets along the Cape Ray Shear Zone and Hermitage, using diamond drilling, basal-till sampling, IP geophysics and mapping. The Company is investigating options to broaden access to Canadian capital markets.
CorporateManaging Directors AGM Presentation
An AGM presentation by Managing Director and CEO Sam Pazuki was released, covering the Cape Ray Gold Project in Newfoundland, with an updated Mineral Resource of 9.7 Mt at 1.96 g/t Au for 610 koz (450 koz indicated, 160 koz inferred) at cut-offs of 0.30 g/t open pit and 2.00 g/t underground. It lists a cash balance of C$7.2 million/A$8.0 million, no debt, and B2Gold as a holder above 5%. The 2023 program includes diamond drilling at Malachite, Grandy's and Long Range, prospecting at Hermitage, and geophysics from July.
CorporateResults of Annual General Meeting
All resolutions were passed on a poll at Matador Mining Limited's Annual General Meeting held on Wednesday, 31 May 2023. Shareholders adopted the Remuneration Report (93.47% for), elected Carol Marinkovich as a Director (97.97% for), re-elected Justin Osborne as a Director (98.33% for), approved the issue of options to Mrs Carol Marinkovich (75.88% for) and approved the 7.1A Mandate (80.47% for).
CorporateMatador Updates Mineral Resource Estimates for Cape Ray
An updated JORC (2012) Mineral Resource estimate for the Cape Ray Gold Project in Newfoundland totals 9.7 million tonnes at 1.96 g/t gold for 610,000 ounces of contained gold (Indicated and Inferred), down 27% from 837 koz in the May 2020 estimate. The revision incorporates 36,600 metres of drilling from 259 holes completed January 2020 to April 2022 and, for the first time, constrains resources with pit optimisations at US$1,750/oz gold and underground stope shapes. Effective date 22 February 2023.
Resource updateNotification regarding unquoted securities - MZZ
315,000 Retention Options were issued on 19 May 2023 under Matador Mining Limited's employee incentive scheme, as a new unquoted class with a nil exercise price and expiry date of 1 October 2027. Of these, 135,000 were issued to key management personnel Crispin Pike. Following the issue, the company has 315,218,834 quoted ordinary shares on issue, with the options issued under the Listing Rule 7.2 exception 13.
NewsMatador Commences 2023 Exploration Program
Matador Mining has begun its 2023 exploration program in Newfoundland, Canada, focused on greenfields targets along the Cape Ray Shear Zone and Hermitage Flexure, with the Malachite area the primary focus. Phase one comprises 2,000 to 3,000 metres of diamond drilling, mostly at Malachite, with holes of 100 to 200 metres depth, plus drilling at Long Range and Grandy's; a second phase is planned for summer 2023. IP surveys are planned over the MAL02 and BHL01 targets, and an updated Mineral Resource estimate incorporating about 37,000 metres of drilling is expected before the end of the first half of 2023.
Drill resultsMZZ Announces High-Grade Results from Hermitage Prospecting
A five-day prospecting and sampling program at the Hermitage tenements in Newfoundland, Canada returned peak in situ rock chip assays of 7.31 g/t gold (MR001252), 2.10 g/t (MR000861) and 1.04 g/t (MR001259), confirming the first known gold in bedrock there for the company. Sulphide-bearing quartz veins grading over 1 g/t gold occur across 400 metres of strike, five kilometres along strike from a historic 1.03 g/t grab sample. A total of 101 samples were collected. Further prospecting is planned for 2023, with a basal till RC drill program contemplated for early 2024.
Drill resultsCorporate Presentation - May 2023
A corporate presentation for May 2023 sets out Matador Mining's position in Newfoundland, Canada, with 315 million shares outstanding, a $24 million market capitalisation, C$7.2 million/A$8.0 million cash and no debt. Cape Ray Gold Project resources stand at 3.1 Mt at 3.15 g/t Au for 356 koz indicated and 9.4 Mt at 1.6 g/t Au for 481 koz inferred, with a resource update expected in H1 2023. Planned 2023 work includes an additional 1,500 metres of diamond drilling and 2,000 metres of RC drilling at Malachite.
CorporateNotice of Annual General Meeting/Proxy Form
The annual general meeting will be held at 9:00am (AWST) on Wednesday, 31 May 2023 at 24 Hasler Road, Osborne Park, Western Australia, and virtually, with voting entitlements set at 9:00am (AWST) on 29 May 2023 and proxies due by that time. Shareholders will vote on adoption of the remuneration report for the year ended 31 December 2022, election of Carol Marinkovich, re-election of Justin Osborne, issue of $45,000 of Incentive Options to Mrs Marinkovich, and approval of the Listing Rule 7.1A 10% mandate.
CorporateAppointment of Interim CFO
Ryan Finkelstein has been appointed interim Chief Financial Officer of Matador Mining, effective 1 May 2023, succeeding David Gurvey, who is stepping down. Finkelstein has overseen financial services for Matador since August 2022 through the Carbon Group, a Perth-based financial services firm, and will continue to be remunerated through that firm under its CFO and accounting services contract with Matador. He is eligible for the Company's short-term incentive plan, and the long-term plan if made permanent.
ManagementQuarterly Activities/Appendix 5B Cash Flow Report
Cash on hand at 31 March 2023 was C$7.2 million (A$8.0 million), down from C$8.3 million, with operating cash outflow of C$0.5 million and exploration outflow of C$0.4 million. Assays from the inaugural 1,740 metres of diamond drilling at Malachite, Newfoundland, confirmed basement gold mineralisation up to 1.72 g/t, and anomalous gold was identified at the Long Range and Bunker Hill target areas. A 5,000 to 8,000 metre 2023 drill program is due to start mid-May, with an updated resource estimate expected in the June 2023 quarter.
CorporateCorporate Presentation - April 2023
CorporateMatador Stakes Additional Bunker Hill Mineral Licence
An additional mineral licence has been staked at the Bunker Hill target area in Newfoundland, Canada, giving Matador Mining all six mineral licences in the target area. The newly staked ground lies near historic high-grade outcropping samples of 18.68 g/t and 12.23 g/t gold. Planned 2023 work includes regional prospecting, mapping and surficial geochemistry, plus an Induced Polarization survey at BHL01 to generate targets for future diamond drilling.
CorporateAGM Key Dates & Director Nominations
The Annual General Meeting of Matador Mining Limited is scheduled for Wednesday, 31 May 2023, with the Notice of Meeting to be announced to ASX and provided to shareholders in late April 2023. Election of directors will be an item of business, and nominations must be received by 14 April 2023 at the company's registered office at 24 Hasler Road, Osborne Park WA 6017, or by email.
CorporateCorporate Governance Statement
Matador Mining Limited released its Corporate Governance Statement for the financial year ended 31 December 2022, accurate as at 30 March 2023 and approved by the Board, reporting against the ASX Corporate Governance Council's Principles and Recommendations (4th Edition). The Board comprises five directors, three of them independent non-executive (Justin Osborne, Kerry Sparkes and Nicole Adshead-Bell). The Company does not set measurable gender diversity objectives, has no separate risk committee and no internal audit function, citing its size.
CorporateAnnual Report to Shareholders
AuMEGA Metals (then Matador Mining) released its annual report for the period ended 31 December 2022, following a change of financial year-end from 30 June to 31 December and a change of presentation currency from Australian to Canadian dollars. The Company closed 2022 with cash of C$8.3 million (A$9.0 million) after an A$5 million placement, an A$2.9 million share purchase plan and a A$3.6 million strategic investment by B2Gold for 31,010,290 shares at A$0.1162, about 9.9% of shares outstanding.
CorporateChange of Registered Office Address
Matador Mining Limited's registered office address changed effective Wednesday, 29 March 2023 to 24 Hasler Road, Osborne Park WA 6017. The Company's telephone number remains unchanged at +61 8 6117 0478.
CorporateMultigram Samples from Bunker Hill Greenfields Target
Assays from the 2022 prospecting program at the Bunker Hill target on the Cape Ray Shear Zone in Newfoundland, Canada returned anomalous gold in four float samples: 3.52 g/t, 2.51 g/t, 1.72 g/t and 1.57 g/t. The peak 3.52 g/t sample was collected 900 metres along strike from a historic outcropping sample of 18.67 g/t gold, with the mineralised footprint now about 2.5 kilometres in strike. Pathfinder results included up to 27.72 g/t silver, 0.24% copper, 3.37% lead, 0.69% zinc and 67.98 ppm molybdenum. Additional prospecting and an Induced Polarization survey at BHL01 are planned for 2023.
Drill resultsInitial Directors Interest Notice - C.Marinkovich
Carol Marinkovich was appointed a director of Matador Mining Limited on 1 March 2023. She holds no securities as registered holder, but has an indirect interest through her husband Graeme Marinkovich in 74,503 ordinary fully paid shares and 165,000 unlisted options expiring 01/07/2026. No director's interests in contracts were disclosed.
CorporateCarol Marinkovich Joins Matador Board of Directors
Carol Marinkovich has been appointed Non-Executive Director of Matador Mining, effective 1 March 2023, while continuing as the Company's sole Company Secretary, a role she has held since late 2020. She has previously served as Company Secretary for Gold Road Resources and Sundance Resources and currently holds that role at Alvo Minerals. Matador is focused on gold exploration in Newfoundland, Canada, with a Mineral Resource of 837,000 ounces grading 2 grams per tonne.
ManagementCorporate Presentation - March 2023
A March 2023 corporate presentation for Matador Mining's Newfoundland, Canada gold projects, covering 120 km of strike on the Cape Ray Shear Zone and 27 km on the Hermitage Flexure, with a defined resource of 837,000 ounces at 2 g/t (356 koz Indicated at 3.15 g/t and 481 koz Inferred at 1.60 g/t), and a resource update expected in H1 2023. Inaugural Malachite drilling completed November 2022 with 11 holes for 1,740 metres versus 3,000 metres planned, five holes intersecting gold above 0.2 g/t. The 2023 program includes diamond drilling, RC bottom-of-hole sampling, prospecting and geophysics at Malachite, Grandy's, Long Range, Hermitage and Bunker Hill.
CorporateMatador to Participate in the 2023 BMO Conference
Matador Mining will participate in the 32nd Annual BMO Global Metals, Mining & Critical Mineral Conference in Florida, United States, running from 26 February to 1 March 2023, with management hosting one-on-one meetings. Investors seeking meetings can contact their BMO Capital Markets representative or the Company. Matador holds a gold Mineral Resource of 837,000 ounces grading 2 grams per tonne in Newfoundland, Canada, with 120 kilometres of strike along the Cape Ray Shear and 27 kilometres at Hermitage.
CorporateMatador Identifies New Greenfield Target Area at Long Range
Prospecting at the Long Range target area along the Cape Ray Shear Zone in Newfoundland, Canada returned a peak gold value of 0.77 g/t Au (sample MR001131, float), along with anomalous silver, bismuth, copper, lead and tellurium. The mineralisation lies eight kilometres from multigram historical samples, extending the anomalous strike extent at Long Range to 11 kilometres. Historic work at the LRM01 focus area covers over 300 metres along and across strike, with a peak in situ value of 11.6 g/t Au. Long Range is now a 2023 diamond drill target.
Drill resultsJoint Company Secretary Resignation
Brian Scott has resigned as Joint Company Secretary of Matador Mining Limited (ASX: MZZ; OTCQX: MZZMF; FSE: MA3), effective immediately. Carol Marinkovich will continue as Company Secretary. The announcement was authorised for release by Managing Director Sam Pazuki.
ManagementShares Released from Voluntary Escrow
500,000 ordinary shares of Matador Mining Limited (ASX: MZZ) were released from voluntary escrow today, as flagged in the Company's 1 February 2023 announcement. The release does not change issued capital, which stands at 315,218,834 fully paid ordinary shares. The shares were held by Managing Director and CEO Sam Pazuki under his employment agreement, taking his holding to 847,826 fully paid ordinary shares plus 2,750,000 unquoted options.
CorporateShares Released from Escrow
500,000 fully paid ordinary shares of Matador Mining Limited (ASX: MZZ) will be released from escrow restrictions on 7 February 2023, under a notice given pursuant to ASX Listing Rule 3.10A. The securities were subject to voluntary escrow arrangements under Chapter 9 of the ASX Listing Rules, and their release does not change the Company's issued capital, which comprises 315,218,834 fully paid ordinary shares.
CorporateQuarterly Activities/Appendix 5B Cash Flow Report
The December 2022 quarter report for Matador Mining covers the Cape Ray Gold Project in Newfoundland, Canada, where inaugural diamond drilling at the Malachite target totalled 1,740 metres over eleven holes from October to mid-November 2022, with four holes returning anomalous gold including 1.72 g/t Au over one metre from 34 metres and 1.21 g/t Au over one metre from 74 metres. A $3.6 million placement to B2Gold Corp of 31,010,290 shares at $0.1162 was completed, leaving about $9 million cash at 31 December 2022. The financial year-end was changed from 30 June to 31 December.
CorporateCorporate Presentation - January 2023
A January 2023 corporate presentation for the Cape Ray Gold Project in Newfoundland, Canada, states a mineral resource of 837,000 ounces at 2.02 g/t (3.5 Mt at 3.15 g/t for 356 koz indicated and 9.4 Mt at 1.60 g/t for 481 koz inferred), with a resource update expected in H1 2023. Inaugural Malachite drilling was completed in November 2022 with 11 holes for 1,740 metres, five of which intersected gold above 0.2 g/t. The presentation also details B2Gold's placement of ~31 million shares at $0.116 for 9.9%.
CorporateMatador Confirms Basement Gold Mineralisation at Malachite
Eleven diamond drill holes for 1,740 metres were completed at the Malachite target area along the Cape Ray Shear Zone in Newfoundland, Canada, the first drilling in the area. Four of eleven holes returned anomalous gold in bedrock, including 1.72 g/t Au over one metre from 34 metres (CRD361), 1.21 g/t Au over one metre from 117 metres (CRD357), 0.73 g/t Au over one metre from 112 metres (CRD360) and 0.50 g/t Au over one metre from 80 metres (CRD358). The planned 3,000 metres was not completed due to weather.
Drill resultsApplication for quotation of securities - MZZ
8,000 ordinary fully paid shares will be quoted on the ASX, issued on 20 January 2023 on conversion of options expiring 1 July 2023 (MZZAF) held under an employee share option scheme, for nil consideration valued at an estimated $0.12 per security. Following quotation, Matador Mining will have 315,218,834 quoted ordinary shares on issue, plus unquoted options including 2,080,201 remaining MZZAF options.
Financing
202290 releases
Matador Announces Assays from Malachite Prospecting Program
Rock chip and float sampling at the Malachite target area on the Cape Ray Shear Zone in Newfoundland, Canada returned the first known bedrock samples with significant gold, including 15,300 ppb Au (15.3 g/t), 74.4 g/t Ag and >1% Cu from a boulder about five kilometres southwest of MAL03, 7,470 ppb Au from a quartz vein float sample, and in-situ chips of 3,800 ppb, 1,830 ppb and 1,490 ppb Au at MAL03. Autumn 2022 drilling reached about 1,700 metres of 3,000 metres planned before weather curtailed it, with assays pending.
Drill resultsCorporate Presentation - December 2022
A December 2022 corporate presentation for Matador Mining's Newfoundland, Canada projects, covering the Cape Ray Gold Project resource of 837,000 ounces at 2.02 g/t Au (3.5 Mt @ 3.15 g/t for 356 koz Indicated; 9.4 Mt @ 1.60 g/t for 481 koz Inferred), with a resource update expected in H1 2023. Inaugural diamond drilling at the Malachite target began in October 2022, with assays pending. B2Gold subscribed for ~31 million shares at $0.116 per share, a 22% premium, for 9.9% of shares, across two tranches of $2.09 million and $1.51 million, plus an option over 39 million shares.
CorporateChange of Directors Interest Notice - J.Osborne
Director Justin Osborne acquired an indirect interest in 824,175 unlisted options in Matador Mining Limited on 9 December 2022, valued at $0.1092 per option. The options were issued subject to vesting criteria as approved at the AGM of 28 November 2022 (Resolution 10). His indirect holdings after the change total 980,870 fully paid ordinary shares and 1,184,175 unquoted options.
CorporateChange of Directors Interest Notice - K.Sparkes
Director Kerry Elwyn Sparkes acquired 412,088 unlisted options in Matador Mining Limited on 9 December 2022, valued at $0.1092 per option. The options were issued subject to vesting criteria as approved at the AGM of 28 November 2022 under Resolution 11. Sparkes held no securities of this class prior to the change, and holds 412,088 unquoted options after it.
CorporateMatador Mining Provides Notice of Change of Financial Year
Matador Mining's Board has resolved to change the Company's financial year-end from 30 June to 31 December under section 323D(2A) of the Corporations Act 2001 (Cth). A six-month transitional financial year will run from 1 July 2022 to 31 December 2022, after which the Company reverts to a 12-month year from 1 January to 31 December. An annual report including financial statements must be lodged by 31 March 2023, with an Annual General Meeting held by 31 May 2023.
CorporateNotification regarding unquoted securities - MZZ
412,088 unlisted director options were issued on 9 December 2022 under Matador Mining Limited's employee incentive scheme, with a nil exercise price and an expiry date of 1 September 2029, each convertible into fully paid ordinary shares. The options were issued to key management personnel Kerry Sparkes, following security holder approval under Resolution 11 at a meeting held on 28 November 2022. The company has 315,210,834 quoted ordinary shares on issue.
NewsChange in substantial holding - B2 Gold
B2Gold Corp. increased its voting power in Matador Mining Limited from 6.00% to 9.84%, rising from 18,000,000 to 31,010,290 fully paid ordinary shares. The change followed the 6 December 2022 issue of 13,010,290 shares for $1,512,496 as Tranche 2 of B2Gold's strategic investment, after shareholder approval under ASX Listing Rule 7.1 at Matador's annual general meeting held on 28 November 2022.
CorporateChange in substantial holding
B2Gold Corp. was issued 13,010,290 fully paid ordinary shares in Matador Mining Limited on 6 December 2022 for consideration of $1,512,496, as Tranche 2 of its strategic investment, following shareholder approval under ASX Listing Rule 7.1 at the annual general meeting held on 28 November 2022. Matador's relevant interest in its own shares rose from 18,000,000 shares (6.00%) to 31,010,290 shares (9.84%), arising from a 4 month voluntary escrow arrangement and related Investor Rights Agreement.
CorporateChange of Directors Interest Notice - J.Osborne
Director Justin Osborne acquired an indirect interest in 260,870 fully paid ordinary shares of Matador Mining Limited at $0.115 per share on 6 December 2022, through his participation in the placement approved at the AGM of 28 November 2022. Following the change, indirect holdings comprise 860,870 shares held by Australian Executor Trustees Limited, 60,000 shares and 360,000 unquoted options held by Janet Tunjic Pty Ltd, and 60,000 shares held by Finnoz Pty Ltd.
CorporateChange of Directors Interest Notice - N.Adshead-Bell
Director Nicole Adshead-Bell acquired 521,739 fully paid ordinary shares in Matador Mining Limited on 6 December 2022 at $0.115 per share, issued under her participation in the placement as approved at the AGM of 28 November 2022. She now holds 521,739 shares directly, plus an indirect interest through Cupel Advisory Corp of 120,000 ordinary shares and 360,000 unquoted options.
CorporateChange of Directors Interest Notice - S.Pazuki
Director Sam Pazuki acquired 347,826 fully paid ordinary shares at $0.115 per share on 6 December 2022, through participation in the placement as approved at the AGM of 28 November 2022. Following the change, Pazuki holds 347,826 fully paid ordinary shares, 500,000 escrowed fully paid ordinary shares and 2,750,000 unquoted options. The notice was filed by Matador Mining Limited.
CorporateApplication for quotation of securities - MZZ
1,130,435 ordinary fully paid shares (ASX: MZZ) will be quoted from 6 December 2022, issued at AUD 0.115 per security for cash consideration under a placement first notified to the market on 15 July 2022. The shares represent director participation in the placement, approved by shareholders at the AGM held 28 November 2022 under Resolutions 6, 7 and 8. Following quotation, Matador Mining Limited will have 302,200,544 quoted securities on issue.
FinancingChairs Address to Shareholders
The Chair's address to the 2022 Annual General Meeting of Matador Mining outlined the year's activities at the Cape Ray Gold Project in Newfoundland, Canada, including more than 21,000 metres of diamond drilling in the 2021 summer program, almost 6,000 metres in the inaugural winter program, and an October diamond drill program at the greenfield Malachite target, with assays expected in early 2023 and updated resource models expected in 2023. Board changes were noted, with Ian Murray retiring on 31 October, Mick Wilkes retiring in May, and Sam Pazuki joining as Managing Director and CEO alongside Kerry Sparkes as Non-Executive Director.
CorporateChange of Directors Interest Notice - J.Osborne
Director Justin Osborne acquired 60,000 fully paid ordinary shares on 10 November 2022 through the exercise of vested unquoted options with a zero exercise price, approved by shareholders at the 2020 AGM. Following the change, his indirect holdings comprise 360,000 unquoted options and 660,000 ordinary shares across related entities. The notice was lodged by Matador Mining Limited.
CorporateChange of Directors Interest Notice - N.Adshead-Bell
Director Nicole Adshead-Bell acquired 120,000 fully paid ordinary shares on 10 November 2022 through the exercise of vested unquoted options with a zero exercise price, as approved by shareholders at the 2020 AGM. The interest is held indirectly through Cupel Advisory Corp, which held 480,000 unquoted options prior to the change and now holds 120,000 ordinary shares and 360,000 unquoted options. The notice was filed by Matador Mining Limited.
CorporateChange of Directors Interest Notice - J.Osborne (Amended)
Director Justin Osborne acquired 60,000 fully paid ordinary shares in Matador Mining Limited on 10 November 2022 through the exercise of vested unquoted options with a zero exercise price, as approved by shareholders at the 2020 AGM. Following the change, his indirect holdings comprise 720,000 fully paid ordinary shares and 360,000 unquoted options. No securities were disposed of.
CorporateCeasing to be a substantial holder
Franklin Resources, Inc. and its affiliates ceased to be a substantial holder in Matador Mining Limited, with the change occurring on 08 November 2022. The issuance of 665,150 shares by the company reduced Franklin's holding to below 5%. The previous substantial holding notice was given and dated 24 July 2022.
CorporateCorporate Presentation - November 2022
A November 2022 corporate presentation for Matador Mining covers its Cape Ray Gold Project in Newfoundland, Canada, with mineral resources of 3.1 Mt at 3.15 g/t for 356 koz indicated and 9.4 Mt at 1.6 g/t for 481 koz inferred, totalling 837,000 ounces at 2 g/t. The company lists a $35 million market capitalisation, 300 million shares and $10.9 million cash. Inaugural drilling at Malachite began in October 2022, with a resource update expected in H1 2023. B2Gold subscribed for about 31 million shares at $0.116 for 9.9%.
CorporateApplication for quotation of securities - MZZ
180,000 ordinary fully paid shares of Matador Mining Limited will be quoted on the ASX, issued on 10/11/2022 on exercise of vested onboarding options granted under an employee incentive scheme and approved by shareholders at the AGM on 18 November 2020. The options were exercised by key management personnel Justin Osborne (60,000) and Nicole Adshead-Bell (120,000) for nil consideration, with an estimated value of $0.11 per security. Following quotation, 300,404,959 shares will be on issue.
FinancingNotice of Initial Substantial Holder
A Form 603 notice of initial substantial holder was lodged showing Matador Mining Limited holds a relevant interest of 18,000,000 shares, or 6.00% voting power, in its own securities as of 2 November 2022. The interest arises from a four-month hold period on shares issued to B2Gold Corp on 2 November 2022 and a right under an Investor Rights Agreement to facilitate off-market transfers where B2Gold seeks to sell more than 1% of shares within 30 days. The shares were issued under B2Gold's strategic investment announced 26 October 2022 to fund exploration in Newfoundland, Canada.
CorporateApplication for quotation of securities - MZZ
Matador Mining Limited applied for quotation of 665,150 ordinary fully paid shares issued on 8 November 2022 on exercise of vested options under an employee incentive scheme, comprising 536,000 shares from options expiring 1 July 2023 and 129,150 from STI options expiring 1 July 2024, each valued at an estimated A$0.105 per security with no cash consideration. Following quotation, the company will have 300,890,109 ordinary shares on issue, plus various unquoted options.
FinancingBecoming a substantial holder - B2Gold
The Form 603 filing discloses that B2Gold Corp. became a substantial holder in Matador Mining Limited on 02/11/2022, acquiring 18,000,000 fully paid ordinary shares for $2,091,186.00 ($0.116177 per share), representing 6.00% voting power. The shares were issued under a subscription agreement dated 25 October 2022, which also provides for a Tranche 2 subscription of 13,010,290 shares for $1,511,496.46, subject to shareholder approval. Proceeds are to be used for exploration and development at the Malachite deposit at the Cape Ray Gold Project.
CorporateNotification of cessation of securities - MZZ
A total of 18,702,085 unquoted options ceased on 31 October 2022: 2,138,799 options expiring 01-Jul-2023 and 15,808,864 options expiring various dates expired unexercised following a review of all unvested options, while 695,666 options expiring 01-Jul-2025 and 58,756 LTI options expiring 01-Jul-2026 were cancelled or forfeited as unvested LTI options. No consideration was paid. Issued capital remains 282,224,959 ordinary fully paid shares.
CorporateApplication for quotation of securities - MZZ
18,000,000 ordinary fully paid shares were issued on 2 November 2022 at AUD 0.1162 per share for cash consideration, as tranche 1 of the placement announced on 26 October 2022. Tranche 2 requires shareholder approval at the AGM on 28 November 2022. Following quotation, Matador Mining will have 300,224,959 quoted ordinary shares on issue, plus unquoted options.
FinancingFinal Directors Interest Notice - I.Murray
Ian Louis Murray ceased to be a director of Matador Mining Limited on 31 October 2022. At that date he was the registered holder of 2,000,000 ordinary fully paid shares and unlisted options comprising 1,000,000 MZZOPT19, 1,000,000 MZZOPT20 and 100,100 MZZUO03. Murray Superannuation Investments Pty Ltd, of which he is a director, held 1,700,000 ordinary fully paid shares plus 536,000 MZZOPT21 and 687,667 MZZOPT23 unquoted options. No director contracts were disclosed.
CorporateDirector Resignation - I.Murray
Ian Murray will retire from the Matador Mining board effective 31 October 2022. The Board granted him Good Leaver status for all vested and a portion of unvested options, and, at his request, terminated his subscription agreement under the recent $4.5 million share placement, reimbursing his subscription funds so those shares will be cancelled. Dr Nicole Adshead-Bell becomes Audit Committee Chair and Kerry Sparkes becomes Chair of the Remuneration Committee.
ManagementNotice of Annual General Meeting/Proxy Form
Matador Mining Limited will hold its Annual General Meeting at 9:00am (AWST) on Monday, 28 November 2022 at 24 Hasler Road, Osborne Park, Western Australia, and virtually, with shareholders registered at 9:00am (AWST) on 26 November 2022 eligible to vote. Resolutions include adoption of the Remuneration Report, election of Kerry Sparkes and re-election of Dr Nicole Adshead-Bell, ratification of placements totalling 29,302,851 and 9,840,963 shares, director placement participation, option issues, a 7.1A mandate, and share issues to B2Gold Corp.
CorporateQuarterly Activities/Appendix 5B Cash Flow Report
Quarterly report for the three months to 30 September 2022 shows a cash balance of approximately $8.8 million, excluding B2Gold's investment, with $786,000 used in operating activities and $976,000 spent on exploration and evaluation. Capital raisings during the quarter totalled $7.9 million, comprising a $5.0 million placement in July 2022 and a $2.9 million Share Purchase Plan in August 2022. After quarter end, B2Gold agreed to subscribe for 31,010,290 shares at approximately $0.1162 each for $3,602,682, about 9.9% of Matador, and inaugural diamond drilling of approximately 3,000 metres began across three targets at Malachite on the Cape Ray Gold Project, Newfoundland.
CorporateMatador Announces Strategic Investment from B2Gold
B2Gold Corp. will make a $3.6 million non-brokered strategic investment in Matador Mining, subscribing for 31,010,290 shares at approximately $0.1162 each for gross proceeds of $3,602,682, about 9.9% of Matador's shares on an undiluted basis, with proceeds directed to the Malachite exploration program in Newfoundland, Canada. The placement is in two tranches, with the 13,010,290-share second tranche requiring shareholder approval at the AGM on 28 November 2022. An investor rights agreement gives B2Gold a technical committee seat, a five-year option over 39,105,524 further shares, and rights of first offer and refusal.
FinancingProposed issue of securities - MZZ
A placement of up to 31,010,290 fully paid ordinary shares at AUD 0.11620 each is proposed by Matador Mining Limited (MZZ), with a proposed issue date of 30/11/2022. Tranche 1 of 18,000,000 shares is to be issued by 31 October 2022, and tranche 2 of 13,010,290 shares requires shareholder approval at the AGM on 28/11/2022. All shares are subject to a 4 month voluntary escrow from issue, with proceeds for exploration at Malachite.
FinancingCommencement of Drilling at Malachite in Newfoundland
Drilling has begun at the Malachite prospect on the Cape Ray tenements in southwestern Newfoundland, a helicopter-supported program of about 3,000 metres of diamond drilling across three target areas (MAL01, MAL02, MAL03), none of which has been drilled previously. Targets were defined by summer prospecting, mapping and sampling, including gold grain anomalies such as 1,201 grains (1.93 g/t gold) at MAL01 and 336 grains (1.92 g/t gold) at MAL02. Assays from summer rock samples are pending.
Drill resultsAnnual Report to Shareholders
The FY2022 annual report for the year ended 30 June 2022 reports a closing cash balance of $3.1 million, with $5 million raised in a July placement and $2.9 million accepted from a Share Purchase Plan that attracted $3.9 million in applications. The company completed 21,997 metres of diamond drilling at its Cape Ray tenements in Newfoundland, including a maiden winter program of 37 holes for 5,930 metres, and holds Mineral Resources of 837,000 ounces of gold at 2 g/t. The Environmental Impact Statement process was placed on hold as the focus shifted to Greenfield exploration at Malachite, with drilling planned from October 2022.
CorporateCorporate Governance Statement
Matador Mining Limited published its Corporate Governance Statement for the financial year ended 30 June 2022, accurate as at 22 September 2022 and approved by the Board, reporting against the ASX Corporate Governance Council's Principles and Recommendations (4th Edition). The Board comprises five directors, three of them independent non-executive (Justin Osborne, Kerry Sparkes and Nicole Adshead-Bell), with Sam Pazuki as Managing Director. The Company does not set measurable gender diversity objectives, has no separate risk committee and no internal audit function.
CorporateKey Dates Corporate Calendar
Matador Mining's Annual General Meeting is scheduled for Friday, 11 November 2022, with the election of directors an item of business. Under ASX Listing Rule 3.13.1, nominations from persons wishing to stand for election as a director close on Friday, 7 October 2022, and must be received at the Company's registered office in Perth WA or by email.
CorporateMatador Provides Newfoundland Update
All Matador staff in Newfoundland are accounted for and unharmed following Post-Tropical Storm Fiona, with only very minor damage to the Company's storage facility in Port aux Basques and no damage to critical infrastructure or drill core. Timing of inaugural drilling at Malachite, 80 kilometres inland from Port aux Basques, has not been significantly impacted and remains scheduled to commence in the near-term. Staff are in affected communities providing recovery assistance.
Corporate2022 Gold Forum Americas Presentation
A corporate presentation delivered by Managing Director and CEO Sam Pazuki at the 2022 Gold Forum Americas in Colorado Springs, Colorado on September 21, 2022 covers Matador Mining's Newfoundland, Canada assets, including 120 kilometres of continuous strike on the Cape Ray Shear Zone and a mineral resource of 837,000 ounces of gold grading 2 g/t. It also outlines the Malachite fault complex, 15 km long and 4 km wide, where 2021-2022 till and soil sampling identified 17 high tenor gold grain anomalies, and the Hermitage project with over 27 kilometres of strike.
Corporate2022 Precious Metals Summit Presentation by Chairman
A corporate presentation delivered by Non-Executive Chairman Justin Osborne at the 2022 Precious Metals Summit in Beaver Creek, Colorado on September 13, 2022 covers Matador Mining's Cape Ray Gold Project in Newfoundland, Canada, including a 120-km continuous strike tenement package and a mineral resource of 837,000 ounces of gold grading 2 g/t. The presentation also outlines summer 2022 mapping, prospecting and rock chipping at the Malachite target, where 17 high tenor gold grain anomalies were identified and assays are pending, plus the 27-km-strike Hermitage project.
CorporateMatador Mining Defines Diamond Drill Targets at Malachite
Field work at the Malachite project on the Cape Ray Shear Zone in Newfoundland, Canada has defined multiple diamond drill targets, with mapping, prospecting and till sampling covering over 22 kilometres of strike from Grandys to Malachite. Infill and extensional till sampling delivered about 55 gold grain samples and 350 multi-element geochemistry samples, with a peak count of 1,201 gold grains (97% pristine, equivalent to 1,928 ppb Au). Diamond drilling is planned to begin at Malachite in the coming weeks.
Drill resultsCorporate Presentation - September 2022
A September 2022 corporate presentation covers Matador Mining's Cape Ray Gold Project in Newfoundland, Canada, including a mineral resource of 837,000 ounces of gold at 2.02 g/t (3.5 Mt @ 3.15 g/t for 356 koz indicated and 9.4 Mt @ 1.60 g/t for 481 koz inferred) across a 120-km continuous strike tenement package. Summer field work at the Malachite target, a 15 km by 4 km fault complex, identified 17 high-tenor gold grain anomalies, with inaugural diamond drilling expected in the coming weeks. The company has 282 million shares and 11 million options outstanding.
CorporateApplication for quotation of securities - MZZ
Matador Mining applied for quotation of 133,830 ordinary fully paid shares (ASX: MZZ) issued 8 September 2022 on conversion of employee incentive scheme options, comprising 52,500 shares from MZZAH short term incentive options (2021-2022) and 81,330 from MZZAE long term incentive options (2019-2022), valued at $0.110000 per security. Keith Bowes, key management personnel, received 52,500 and 66,000 of these shares. Following quotation, 282,224,959 ordinary shares will be on issue.
FinancingNotification of cessation of securities - MZZ
A total of 420,000 unquoted options under code MZZAE ceased on 31 August 2022, comprising 300,000 options exercisable at $0.63 expiring 18/11/23 that lapsed because conditions were not satisfied, and 120,000 nil-exercise-price options expiring 18/11/23 that expired without exercise. No consideration was paid for the cessation. Issued capital now comprises 282,091,129 ordinary fully paid shares and 17,122,981 remaining MZZAE options, alongside other unquoted option classes.
CorporateInitial Directors Interest Notice - K.Sparkes
Kerry Elwyn Sparkes was appointed a director of Matador Mining Limited effective 1 September 2022. The Initial Director's Interest Notice reports no relevant interests in securities held directly or indirectly, and no interests in contracts.
CorporateKerry Sparkes Joins Matador Mining Board of Directors
Kerry Sparkes has been appointed as Non-Executive Director of Matador Mining, effective 1 September 2022, after acting as an advisor to the Company over the past 12 months. Sparkes is a St. John's, Newfoundland-based geologist with over 30 years of experience, most recently serving as Vice President, Geology for Franco-Nevada Corporation, and currently sits on the board of Aurion Resources Ltd. Matador holds a defined gold Mineral Resource of 837,000 ounces grading 2 grams per tonne in Newfoundland, Canada.
ManagementApplication for quotation of securities - MZZ
An application has been lodged for quotation of 54,619 ordinary fully paid MZZ shares, issued 26/8/2022 on the vesting of employee incentive scheme options, comprising 34,898 shares from vested STI options and 19,721 from vested LTI options, both for nil cash consideration valued at AUD 0.125000 per security. None were issued to key management personnel. Following quotation, 282,091,129 ordinary shares will be on issue, plus unquoted options.
FinancingNotification of cessation of securities - MZZ
A total of 971,652 STI options (MZZAH) and 407,935 options (MZZAE) lapsed on 9 August 2022 because their conditions were not, or became incapable of being, satisfied, with no consideration paid. Following the cessation, Matador Mining has 256,663,319 quoted ordinary fully paid shares on issue, plus unquoted options including 17,562,702 MZZAE, 4,763,000 MZZAF, 2,256,000 MZZAG, 2,750,000 MZZAJ, 558,348 MZZAH and 2,290,000 MZZAI.
CorporateApplication for quotation of securities - MZZ
Matador Mining Limited has applied to ASX for quotation of 155,950 ordinary fully paid shares (MZZ), issued 19 August 2022 on the exercise of vested short-term incentive options (MZZAH, expiring 1 July 2024, nil exercise price), with an estimated consideration value of A$0.125000 per security. None were issued to key management personnel or associates. Following quotation, quoted ordinary shares total 256,819,269, alongside various unquoted option classes.
FinancingApplication for quotation of securities - MZZ
25,217,241 ordinary fully paid shares of Matador Mining (MZZ) were issued on 18 August 2022 at A$0.115 each and applied for quotation on ASX. The shares relate to a securities purchase plan notified in an Appendix 3B on 15 July 2022 for 8,695,652 securities (A$1M); the SPP was oversubscribed and the Board resolved to accept a total of $2.9M. A further 1,826,087 placement shares subscribed by Directors require shareholder approval, with a meeting anticipated in November 2022. Quoted capital will total 281,880,560 shares.
FinancingResults of Share Purchase Plan
Matador Mining's Share Purchase Plan closed on 12 August 2022 oversubscribed, with applications totaling approximately $3.9 million against an initial $1.0 million target; the Board resolved to accept $2.9 million, with applicants scaled back pro-rata. Allotment is expected on 18 August 2022 and trading on 19 August 2022. Combined with the recent institutional placement, gross proceeds are approximately $7.9 million, funding drill target generation at the 60 square kilometre Malachite area and other targets in Newfoundland, with drilling at Malachite expected to commence in September 2022.
FinancingMatador announces Board and Management Changes
Board and management changes take effect 1 August 2022 at Matador Mining. Justin Osborne moves from Non-Executive Director to Non-Executive Chairman, while Ian Murray moves from Non-Executive Chairman to Non-Executive Director. David Gurvey is appointed Chief Financial Officer following the resignation of Chris Bath. The company holds tenure covering 120 kilometres of strike along the Cape Ray Shear in Newfoundland, Canada, and is refocusing its strategy on greenfields exploration.
ManagementQuarterly Activities/Appendix 5B Cash Flow Report
Quarterly activities report for the quarter ended 30 June 2022 at the Cape Ray project in Newfoundland, Canada, with a cash balance of approximately $3.1 million and 217,519,505 shares on issue. After quarter end the Company completed a $5.0 million capital raising, issuing 40,969,901 shares via a $2 million hard dollar placement at $0.115, a $2.5 million flow-through placement at $0.13 and a $500,000 private placement, plus a share purchase plan of up to $1 million closing 12 August 2022.
CorporateBecoming a substantial holder
Franklin Resources, Inc. and its affiliates became a substantial holder in Matador Mining Limited on 21 July 2022, holding 15,027,330 ordinary shares representing 5.85% voting power. The Form 603 initial substantial holder notice was signed on 24 July 2022 by Catherine Johnson, Manager Global Securities – Regulatory Reporting.
CorporateCorporate Presentation - July 2022
A July 2022 corporate presentation for Matador Mining's Cape Ray Gold Project in Newfoundland, Canada, restating a mineral resource of 3.1 Mt at 3.15 g/t for 356 koz indicated and 9.4 Mt at 1.6 g/t for 481 koz inferred, totalling 837,000 oz at 2.02 g/t. Cash was $7 million at 31 March 2022, with a $5 million capital raising closed 21 July 2022 and a share purchase plan closing 12 August 2022. Drilling of greenfield targets is expected late September 2022.
CorporateCeasing to be a substantial holder - CI Investments
CI Investments Inc. has ceased to be a substantial holder in Matador Mining Limited, with the change in interests occurring on 20 July 2022. The Form 605 lists four sales of fully paid ordinary shares between 26 May and 1 June 2022: 479,776 shares for $94,563.85, 494,547 shares for $93,963.93, 306,823 shares for $56,762.26 and 19,979 shares for $3,614.20. The previous notice was given to the company on 27 May 2022.
CorporateSecurity Purchase Plan Offer Document
A share purchase plan opened on Friday, 22 July 2022 and closes at 5:00pm (Perth time) on Friday, 12 August 2022, offering eligible Australian and New Zealand shareholders up to $30,000 of new shares at $0.115 each, with no brokerage. Matador Mining is seeking up to $1 million (before costs), matching the price of its recently announced $5 million placement. Proceeds will fund greenfield exploration and drill target generation at Malachite, Bunker Hill, Grandy's and Hermitage, an inaugural diamond core drill program at Malachite, and working capital. Allotment is set for 18 August 2022.
FinancingApplication for quotation of securities - MZZ
Matador Mining has applied for quotation of 7,692,308 ordinary fully paid shares (ASX: MZZ) with an issue date of 22 July 2022, issued at AUD 0.13 per security for cash as flow-through shares under a placement previously notified in an Appendix 3B dated 15 July 2022. Following quotation, quoted ordinary shares on issue will total 225,211,813. SPP securities and director placement shares, subject to shareholder approval, are still to be issued.
FinancingCleansing Notice - Placement
39,143,814 fully paid ordinary shares have been issued by Matador Mining Limited without disclosure under Part 6D.2 of the Corporations Act, as set out in the relevant Appendix 2A forms and the ASX release dated 19 July 2022. The cleansing notice, given under section 708A(5)(e), states the Company has complied with Chapter 2M and section 674 and that there is no excluded information requiring disclosure.
FinancingDispatch of SPP Booklet & Investor Conference Call
A Share Purchase Plan offer booklet has been dispatched to Australian and New Zealand shareholders who held Matador Mining shares at 5:00pm on 14 July 2022, offering up to A$1 million of new shares at A$0.115 per share, with individual subscriptions capped at A$30,000 and no brokerage costs. The SPP closes 12 August 2022, with results announced 17 August and trading commencing 19 August. Proceeds follow a recent A$5.0 million raising and will fund greenfield exploration and an inaugural diamond core drill program at Malachite, Cape Ray Shear, Newfoundland. A conference call with Managing Director and CEO Sam Pazuki is set for 26 July 2022 at 12:00pm AEST.
CorporateApplication for quotation of securities - MZZ
A total of 31,451,506 ordinary fully paid shares were issued on 21 July 2022 and applied for quotation, comprising 11,538,462 flow-through shares at AUD 0.13 each and 19,913,044 placement shares at AUD 0.115 each, under the placement announced on 15 July 2022. Following quotation, Matador Mining will have 248,971,011 quoted ordinary shares on issue. Further issues remain to complete the transaction, including finalisation of flow-through shares and a share purchase plan.
FinancingIncrease in Successful Placement through a Private Placement
An additional 4,313,044 shares were placed at A$0.115 per share to an existing large shareholder, raising gross proceeds of A$496,000 and lifting the total raised with the previously announced A$4.5 million placement to A$5.0 million. A share purchase plan of up to A$1 million at A$0.115 per share will be offered to eligible Australian and New Zealand shareholders on record at 14 July 2022, with documentation due 22 July 2022. Funds will advance greenfield exploration and an inaugural diamond drill program at Malachite, Newfoundland, Canada.
FinancingSuccessful Completion of $4.5M Placement
A$4.5 million has been raised before costs through a placement of 36,656,857 shares at an average price of A$0.123, comprising a A$2.0 million hard dollar tranche at A$0.115 per share and a A$2.5 million flow-through tranche at A$0.13 per share. A further 1,826,087 shares will be issued to Directors subject to shareholder approval, and a Share Purchase Plan at A$0.115 per share will offer Australian and New Zealand shareholders up to A$1.0 million. Funds will advance greenfield exploration and inaugural drilling at Malachite, Newfoundland.
FinancingProposed issue of securities - MZZ
Matador Mining (MZZ) is undertaking a placement of up to 36,656,857 ordinary shares, comprising 17,426,087 shares at A$0.115 and 19,230,770 shares at A$0.130, with a proposed issue date of 21/7/2022; shareholder approval is required for 1,826,087 shares subscribed by directors. A share purchase plan for up to 8,695,652 shares at A$0.115, with minimum acceptance of $2,500 and maximum $30,000, has a record date of 14/7/2022, opens 22/7/2022, closes 5/8/2022 and issues 12/8/2022. Proceeds will fund greenfield exploration, an inaugural diamond core drill program on top Malachite targets and working capital.
FinancingExpiry of Unlisted Options
A total of 17,791,250 unlisted options expired unexercised on 1 and 2 July 2022, comprising tranches exercisable at $0.35, $0.40, $0.45, $0.50 and $0.23. Following the expiries, Matador Mining has 217,519,505 fully paid ordinary shares on issue, along with remaining unlisted options expiring between 2023 and 2029.
CorporateMatador Mining Corporate Presentation - June 2022
A June 2022 corporate presentation for the Cape Ray Gold Project in Newfoundland, Canada sets out a mineral resource of 837,000oz Au at 2.02 g/t (3.5 Mt @ 3.15 g/t indicated for 356 koz; 9.4 Mt @ 1.60 g/t inferred for 481 koz), with 96% less than 200m from surface. Tenements cover 120km of the Cape Ray Shear Zone and 27km of the Hermitage Flexure. Greenfield drilling is expected mid-summer 2022, with a resource update planned for early 2023.
CorporateInvestor Presentation - PDAC Conference
An investor presentation for the PDAC Conference covers the Cape Ray Gold Project in Newfoundland, Canada, with a mineral resource of 837,000oz Au at 2.02 g/t, 96% within 200m of surface, and 120km of strike on the Cape Ray Shear Zone plus 27km on the Hermitage Flexure. It restates the 6 May 2020 scoping study, showing LOM production of 484,000oz at 2.0g/t over 7 years, pre-tax NPV5% of C$300M and 61% IRR, AISC of C$1,108/oz, and initial capital of C$137M. Market capitalisation is A$35m with A$7m cash.
CorporateResponse to Appendix 3Z Query
Matador Mining Limited responded to an ASX query regarding the late lodgment of an Appendix 3Z Final Director's Interest Notice for Mr Michael Wilkes, who ceased to be a director on 1 May 2022. The notice was due by 6 May 2022 but was lodged on 8 June 2022, which the company attributed to an internal administrative oversight. Matador said its disclosure arrangements are adequate and considers the late lodgment an isolated incident.
CorporateMZZ Identifies 8 Additional High-Tenor Gold Anomalies
Eight additional high-tenor gold grain anomalies have been identified in the western portion of the 15 x 4 kilometre Malachite target area near the Cape Ray Gold Project in Newfoundland, Canada, from a till sampling program completed in late 2021. One sample taken 470 metres south of the Cape Ray Shear Zone returned 336 gold grains, including 76 pristine grains, and another returned 62 grains including 57 pristine. Malachite now has 17 high-tenor anomalies, with diamond drilling expected to commence this summer.
Drill resultsFinal Director's Interest Notice - M.Wilkes
Michael Francis Wilkes ceased to be a director of Matador Mining Limited on 1 May 2022, per a final director's interest notice lodged with ASX. Wilkes held no securities as registered holder, and had an indirect interest in 60,000 fully paid ordinary shares held by Eligius Holdings Pty Ltd, of which he is a director. He had no interests in contracts. The date of his last notice was 30 August 2021.
CorporateMatador Reports Additional Winter Drilling Results
Assay results from the winter 2022 diamond drilling program at the Cape Ray Gold Project in Newfoundland, Canada included 11 metres at 2.9 g/t Au from 44 metres (including 1 metre at 11.1 g/t Au from 44 metres and 1 metre at 15.6 g/t Au from 47 metres) in hole CRD325, and 3 metres at 10.7 g/t Au from 26 metres (including 1 metre at 29.4 g/t Au) in CRD336, both at the PW-East target. Twenty holes totalling 3,190 metres were drilled at PW-East, part of 5,930 metres drilled overall against 3,500–4,000 metres planned. Stag Hill returned only low-grade results, best 3 metres at 1.0 g/t Au from 14.45 metres, and has been downgraded.
Drill resultsChange in substantial holding
CI Investments Inc., as manager of the funds listed in the notice, reduced its holding in Matador Mining Limited from 14,645,174 shares (6.76% voting power) to 12,362,305 shares (5.68%), following a series of on-market sales between 25 February 2022 and 25 May 2022. The most recent sale, on 25 May 2022, covered 380,602 fully paid ordinary shares for $76,424.88.
CorporateMZZ Intersects High Grade Gold Mineralisation @ Central Zone
Assay results from the winter 2022 diamond drilling program at the Central Zone, Cape Ray Gold Project, Newfoundland, Canada include CRD352 with 6 metres at 13.3 g/t Au from 214m (including 1 metre at 45.8 g/t Au from 217 metres) and 6 metres at 7.1 g/t Au from 228m, and CRD351 with 5 metres at 5.4 g/t Au from 53 metres and 2 metres at 11.1 g/t Au from 64m. Results remain pending for 29 exploration holes at Window Glass Hill Granite, PW East and Stag Hill, plus four Central Zone geotechnical holes.
Drill resultsMatador Increases Newfoundland Landholding
Matador Mining has expanded its Newfoundland landholding by 62km2, or over 6%, to a total of 1,033km2, after an internal targeting workshop held with external experts during the March 2022 quarter. The newly staked claims are contiguous with the Cape Ray Gold Project tenements, north of the Bunker Hill target, along the Cape Ray Shear Zone. The ground contains historic lake sediment silver, lead and zinc anomalies in the top 3% of Newfoundland's 17,128 samples, plus VTEM conductivity targets, and has never been drilled.
NewsApplication for quotation of securities - MZZ
500,000 ordinary fully paid MZZ shares were issued on 11 May 2022 to Matador Mining's incoming CEO, with the consideration valued at $0.260000 per security and the shares subject to voluntary escrow, as previously announced to the market on 1 February 2022. An Appendix 3B was not lodged earlier due to an oversight. Following quotation, Matador will have 217,519,505 ordinary shares on issue plus various unquoted options.
FinancingChange of Director's Interest Notice - S.Pazuki
Director Sam Pazuki acquired 500,000 voluntarily escrowed fully paid ordinary shares, valued at $130,000 based on a share price of $0.26, and 2,750,000 unlisted options on 11 May 2022, taking his holding from nil. The options carry an exercise price of $0.26, vesting in three tranches of 916,666, 916,666 and 916,667 on 1 May 2023, 2024 and 2025, and expire 1 May 2029. The securities were issued under the CEO contract announced on 1 February 2022.
CorporateNotification regarding unquoted securities - MZZ
Matador Mining Limited (ASX: MZZ) issued 2,750,000 unquoted CEO Retention Options on 11 May 2022, with an exercise price of AUD 0.26 and expiry 1 May 2029. The options were issued in three tranches of 916,666, 916,667 and 916,667 vesting on 1 May 2023, 2024 and 2025 respectively, under the CEO agreement lodged with ASX on 1 February 2022. Following the issue, 217,019,505 ordinary fully paid shares are quoted.
NewsChange of Director's Interest Notice - J.Osborne
Director Justin Osborne acquired 250,000 fully paid ordinary shares of Matador Mining Limited in an on-market purchase on 3 May 2022 for $58,750.03, or $0.235 per share. The indirect holding, through Finnoz Pty Ltd (OT Super Fund), rises to 660,000 ordinary shares plus 420,000 unquoted options. The trade did not occur during a closed period.
CorporateInitial Director's Interest Notice - S.Pazuki
Sam Pazuki was appointed a director of Matador Mining Limited effective 1 May 2022. The Appendix 3X initial director's interest notice records no relevant interests in securities held directly or indirectly, and no interests in contracts.
CorporateDirector Appointment/Resignation
Sam Pazuki commenced as Chief Executive Officer of Matador Mining on 1 May 2022 and was appointed to the Board as Managing Director, on base remuneration of C$385,000 per annum plus pension and health contributions, with a one-off grant of 2,750,000 share options and 500,000 ordinary shares. Also effective 1 May 2022, Ian Murray moved from Executive Chairman to Non-Executive Chairman and Mick Wilkes retired as Non-Executive Director.
ManagementQuarterly Activities/Appendix 5B Cash Flow Report
Final 2021 infill drill results from the Window Glass Hill deposit at the Cape Ray Gold Project in Newfoundland, Canada included CRD318 with 14 metres at 4.5 g/t Au from 88 metres and 15 metres at 2.9 g/t Au from 10 metres, and CRD322 with 23 metres at 2.3 g/t Au from 22 metres; greenfields hole CRD313 returned 0.9 metres at 13.2 g/t Au from 9.4 metres. The winter drilling program was completed in mid-April 2022 with 5,924 metres across 37 holes, versus 3,000–4,500 metres planned. Cash at 31 March 2022 was approximately $7.2 million, with a capital raise expected in the June or September quarter.
CorporateTill Sampling Identifies Numerous Gold Targets at Malachite
Till sampling across the 15 x 4 kilometre Malachite target area at the Cape Ray Gold Project in Newfoundland, Canada, identified nine high-tenor gold grain anomalies, three of which remain open at the survey edge. One sample returned 716 gold grains, including 607 pristine grains, with a field duplicate returning 584 grains; results are pending for 97 of 274 heavy mineral concentrate samples. Follow-up infill till sampling and power auger drilling are planned.
Drill resultsCorporate Presentation - Nth America Roadshow
A North American roadshow corporate presentation for the Cape Ray Gold Project in Newfoundland, Canada, restating a mineral resource of 837,000oz Au at 2g/t, with 96% within 200m of surface, and 120km of strike along the Cape Ray shear. The 2022 winter diamond drilling program of 3,000-5,000 metres is underway at PW East, Stag Hill and Central Zone, with 4,000m completed at end March and assays pending; a ~20,000 metre summer program is anticipated to begin in April. Cash was A$11M at 31 December 2021, and Sam Pazuki becomes CEO effective 1 May 2022.
CorporateMultiple High Grade Gold Intersections at Window Glass Hill
Final assay results from late-2021 diamond drilling at the Cape Ray Gold Project in Newfoundland, Canada included CRD318 with 14 metres at 4.5 g/t Au from 88 metres (including 1 metre at 27.4 g/t Au and 1 metre at 17 g/t Au) and 15 metres at 2.9 g/t Au from 10 metres, plus CRD322 with 23 metres at 2.3 g/t Au from 22 metres. CRD313 at the previously undrilled Heart Shaped Pond target returned 0.9 metres at 13.2 g/t Au from 9.4 metres. Winter drilling is underway.
Drill resultsCeasing to be a substantial holder
Grant Davey ceased to be a substantial holder in Matador Mining Limited on 16 March 2022. Maple Mining Pty Ltd sold 72,165 shares for $20,838.91 on 10 March 2022, 21,442 shares for $6,183.98 on 14 March 2022, and 1,212,840 shares for $337,924.54 on 16 March 2022. The previous notice was given and dated 10 March 2022.
CorporateCompany Secretary Appointment/Resignation
Joint Company Secretary Stuart McKenzie has resigned from Matador Mining, effective 14 March 2022, with Brian Scott appointed Joint Company Secretary from the same date. Scott previously worked as a corporate lawyer specialising in M&A, project development, commercial contracts and capital raisings, and holds a First Class LLB (Honours) from Edinburgh University. Scott and Carol Marinkovich will act as Joint Company Secretaries.
ManagementHalf Yearly Report and Accounts
Half-year results to 31 December 2021 show a loss of $3,455,490 (31 December 2020: $1,787,787) and cash of $11,441,605 at 31 December 2021, down from $22,015,560 at 30 June 2021. Drilling at the Window Glass Hill Granite Margin Target at the Cape Ray Gold Project in Newfoundland, Canada returned 45 metres at 1.2 g/t Au from 33 metres (CRD212) and 32 metres at 2.6 g/t Au from 14 metres (CRD277). Prior-period accounts were restated for minority interest and flow-through share accounting; the Environmental Impact Statement is now targeted for the September 2022 quarter.
CorporateChange in substantial holding
Substantial holder Grant Davey's voting power in Matador Mining Limited fell from 13,647,414 shares (6.29%) to 11,076,427 shares (5.10%), with the change effective 9 March 2022. Maple Mining Pty Ltd sold 562,435 shares for $157,574.39 on 4 March 2022 and 2,008,552 shares for $590,599.86 on 9 March 2022.
CorporateChange in substantial holding
Substantial holder Grant Davey's voting power in Matador Mining Limited fell from 7.27% (15,746,451 votes) to 6.29% (13,647,414 votes), with the change taking effect on 7 March 2022. Maple Mining Pty Ltd sold 290,181 shares for $85,132.59 on 3 March, 808,856 shares for $234,226.85 on 4 March and 1,000,000 shares for $276,865.33 on 7 March 2022.
CorporateApplication for quotation of securities - MZZ
380,000 ordinary fully paid shares of Matador Mining Limited (MZZ) have been applied for quotation on the ASX, issued on 7 March 2022 following the exercise of options at AUD 0.23 per security between 4 March and 7 March 2022. Following quotation, the company will have 217,019,505 ordinary shares on issue, plus unquoted options including 17,970,637 MZZAE options.
FinancingChange in substantial holding
Substantial holder Grant Davey's voting power in Matador Mining Limited fell from 9.36% (19,635,470 ordinary shares) to 7.27% (15,746,451 shares), with the change taking effect 02/03/2022. The reduction resulted from share sales by Maple Mining Pty Ltd and Davey Holdings (Aus) Pty Ltd between 13/07/2021 and 02/03/2022, including 757,635 shares sold for $222,894.63 on 02/03/22 and 2,354,676 shares sold for $974,145.74 on 13/08/21.
CorporateChange in substantial holding
CI Investments Inc., as manager of several investment funds, reduced its holding in Matador Mining Limited from 16,409,000 shares (7.76% voting power) to 14,645,174 shares (6.76%), with the change occurring on 24 February 2022. The reduction came from two sales: 1,254,663 fully paid ordinary shares for $360,442.96 on 23 February 2022 and 509,163 shares for $150,266.00 on 24 February 2022.
CorporateDrilling highlights grade continuity & further growth at WGH
Infill diamond drilling results from the late 2021 program at the 232,000 ounce Window Glass Hill resource, part of the Cape Ray Gold Project in Newfoundland, Canada, confirmed grade continuity, with CRD265 returning 1 metre at 3.9 g/t Au from 24 metres and 2 metres at 5.7 g/t Au from 46 metres, CRD315 17 metres at 0.9 g/t Au from 7 metres, and CRD293 2 metres at 4.0 g/t Au from 126 metres. Assays from 25 further diamond holes are expected in coming weeks, while winter drilling continues at PW-East.
Drill results