202685 releases
Broad Shallow Gold in First Goldenclad Drillhole
Partial assays from GCD001, the first drill hole at Goldenclad (ML960, ML1092 and GL3694) at the Spur Project in New South Wales, returned 83 m @ 1.27 g/t Au from 6 m, including 42 m @ 2.23 g/t Au from 12 m, 6 m @ 3.75 g/t Au from 26 m and 8 m @ 4.83 g/t Au from 46 m. Results cover the upper 100 m only, with the hole continuing towards about 500 m depth. Goldenclad sits about 1 km along strike from the Consols Zone, and a second hole, GCD002, has been collared.
Drill resultsBecoming a substantial holder
CorporateConsols Growth Accelerates
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CorporateBecoming a substantial holder
Acorn Capital Limited became a substantial holder in Waratah Minerals Limited on 30/09/2026, with a relevant interest in 20,039,911 ordinary shares, or 5.16% voting power. Acorn holds the interest as investment manager for superannuation funds, institutional investor portfolios and unit trusts, with shares registered to State Street Bank and Trust, BNP Paribas Securities Services Australia, Northern Trust and BNY. Acquisitions in the prior four months included 2,655,000 shares for $2,274,090.97 on 23/09/2026.
CorporateDrilling Supports Link Between Ironclad & Consols Gold Zone
Results from first drillhole IDD001 beneath the Ironclad Gold Mining Licence (GL5828) at the Spur Project in New South Wales, drilled 230m north of the historic Ironclad Mine, returned 3m @ 1.09 g/t Au from 3m, 30m @ 0.47 g/t Au from 84m including 5m @ 1.79 g/t Au from 101m, and 37m @ 0.92 g/t Au from 605m including 14m @ 1.78 g/t Au, plus 5m @ 4.17 g/t Au from 649m. Spur Zone holes returned 60.6m @ 0.53 g/t Au from 26m (SPD086) and 47m @ 0.52 g/t Au from 11m (SPD084). Drilling is underway at Goldenclad, with Ironclad follow-up planned for October.
Drill resultsPrecious Metals Summit Presentation
An investor presentation for the Precious Metals Summit in Beaver Creek, 22–25 September 2026, covers the 100%-owned Spur gold-copper project in the Macquarie Arc, New South Wales, where about 80,000m has been drilled in under a year across a 6km mineralised corridor. Reported intercepts include 46m @ 7.27 g/t Au from 541m and 208.7m @ 1.17 g/t Au from 514m at Consols, with metallurgical test work showing gold recoveries of 90–97%. An 80,000m 2026 drilling program is underway with 10 rigs; cash was $57.7M at 30 June 2026.
CorporateSpur Gold Discovery Drilling Delivers Best Intercept To Date
Drill hole SPD075 at the Consols Zone of the Spur Gold Discovery in New South Wales returned 46 m at 7.27 g/t Au from 541 m, including 19 m at 15.62 g/t Au, 10 m at 28.93 g/t Au from 550 m and 1.3 m at 206 g/t Au from 556 m. Other intercepts included 80 m at 0.97 g/t Au from 394 m, 23 m at 2.18 g/t Au from 312 m and 36.6 m at 0.71 g/t Au from 490 m. The hole extends mineralisation 70 m north and 150 m east, with Consols now traced over about 400 m of strike and 400 m vertically.
Drill resultsWaratah Minerals strikes 46m at 7.27g/t gold as Spur discovery grows
Diamond hole SPD075 at the Consols zone of the Spur gold project in NSW returned 46m at 7.27g/t gold from 541m, including 19m at 15.62g/t from 541m, 10m at 28.93g/t from 550m and a 1.3m sample at 206g/t from 556m. The hole extended mineralisation 70m north and 150m east, linking zones over about 400m of strike and 400m vertically, and defined four high-grade domains beneath the Colthi Fault. Other intercepts included 80m at 0.97g/t from 394m and 23m at 2.18g/t from 312m. A maiden mineral resource is targeted for the first quarter of 2027.
Drill resultsConsols Delivers Strong Gold Recoveries
Initial geometallurgical test work on samples from the Consols Zone at the Spur Project (EL5238) in New South Wales returned gold recoveries of over 89% (89-93%) by combined gravity and conventional cyanide leaching, with gravity recovery of 4-24% and leach recovery of 68-86%. Gold grains up to 601 µm were detected, with negligible gold locked in silicates (0.4%). Further metallurgical testing is underway on three bulk master composites and 20 variability samples to develop a flowsheet for Spur and Consols.
Study resultsWTM hits up to 93pc gold recovery at Consols
Metallurgical testwork on Consols Zone material at the Spur project in NSW returned combined gold recoveries of 89-93% using gravity recovery followed by conventional cyanide leaching. Gravity recovered 4-24% of gold (averaging 15%) and leaching a further 68-86% (averaging 76%), with 408 gold grains of 20µm to 601µm identified and more than 77% of detected gold by area in grains above 100µm. Further work covers three bulk master composites and 20 variability samples.
Study resultsMIN: S&P DJI Announces September 2026 Quarterly Rebalance
Waratah Minerals Limited (WTM) will be added to the All Ordinaries index, effective prior to the open of trading on Monday, September 21, 2026, as part of S&P Dow Jones Indices' September 2026 quarterly rebalance of the S&P/ASX indices announced in Sydney on September 4, 2026. Changes to index shares data for capped and equal weighted indices will be provided in proforma files after market close on Friday, September 11, 2026.
CorporateDrilling Defines New Gold Zone at Gum Flat
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Drill resultsApplication for quotation of securities - WTM
500,000 ordinary fully paid shares will be quoted on the ASX following the exercise of options expiring 19 December 2028 at $0.16, issued 31 August 2026 for cash consideration of AUD 0.16 per security. Following quotation, Waratah Minerals will have 388,252,326 quoted ordinary shares on issue, with 23,100,000 of the $0.16 options remaining unquoted.
NewsWTM strikes shallow gold west of Spur Zone
Nine sonic core holes at the Gum Flat prospect, part of Waratah Minerals' Spur project in NSW, intersected gold in alluvial sediments and weathered basement. Weathered basement intercepts included 19m at 1.10g/t Au from 31m, 50.5m at 0.32g/t Au from surface and 30.5m at 0.96g/t Au from 8m, while alluvial results included 14m at 0.75g/t Au from 9.5m. The company says the results support a possible 150m westward extension of the Spur Zone undercover, and is progressing permits for follow-up drilling.
Drill resultsMajor Step-Out Hole Extends Consols
Drill hole SPD074 at the Consols Zone, Spur Project in New South Wales returned 12.7m @ 1.35 g/t Au from 44m, including 5.0m @ 3.24 g/t Au, plus deeper intercepts of 23.5m @ 2.12 g/t Au from 563m, 185m @ 0.94 g/t Au from 646m and 74.9m @ 0.98 g/t Au from 845.1m, extending mineralisation 75m east and down plunge. At Spur, SPD088 returned 190m @ 0.45 g/t Au from 419m, extending mineralisation 50m north along the Tywi Fault, while SPD081 extended it 65m north. Drilling continues at Spur, Consols and Ironclad under an 80,000m program.
Drill results2026 Half Year Financial Statements
A loss after tax of $20,061,796 was reported for the half-year ended 30 June 2026, compared with $5,754,659 in the prior corresponding period, with exploration and evaluation costs of $19,088,147 and cash of $57,714,079 at 30 June 2026. A A$48.0 million placement was completed in May 2026 at A$0.62 per share for 77,419,355 shares, funding drilling at the Spur Gold Project in New South Wales. The Ironclad mining lease acquisition completed in July 2026 with a $900,000 cash balance paid.
CorporateAlpine Gold Zone Confirms District-Scale 6km Spur Corridor
6km mineralised gold corridor linking Alpine, Gazzards, Spur and Consols, based on RC drilling at the Alpine Gold Zone within the 80,000m program at the Spur Project, New South Wales. ARC023 returned 7m @ 1.40 g/t Au from 13m, including 1m @ 9.34 g/t Au from 17m, and 20m @ 1.82 g/t Au from 53m, including 1m @ 26.63 g/t Au from 59m. ARC024 returned 12m @ 1.18 g/t Au from 27m and ended in 1m @ 5.63 g/t Au from 119m, open downhole, and will be deepened with a diamond tail. ARC021 returned 29m @ 0.54 g/t Au from 40m. Follow-up diamond drilling is expected to start in Q4 2026 after regulatory approvals.
Drill resultsInvestor Presentation - Diggers & Dealers Mining Forum
An investor presentation for the Diggers & Dealers Mining Forum, held 3-5 August 2026, covers the Spur gold-copper project in NSW, where recent RC drilling confirmed 6km of strike between Spur and Gazzards, with fifteen shallow holes at Gazzards returning near-surface gold over a 500m strike extent, including 8m @ 3.54 g/t Au from 120m (ARC009) and 17m @ 1.36 g/t Au from 96m (ARC011). An 80,000m drilling program is underway in 2026 with 10 rigs active and ~77,132m drilled to date. Cash at bank was $57.7M at 30 June 2026.
CorporateWaratah Minerals drilling extends Spur gold corridor to 6km
Reverse circulation drilling at the Spur gold-copper project in NSW has extended the Spur Gold Corridor to 6km, linking the Alpine and Gazzards prospects to Consols and Spur. Alpine hole ARC018 returned 10m at 2.46g/t gold from 76m, including 5m at 4.35g/t from 79m, while Gazzards returned 8m at 3.54g/t from 120m in ARC009 and 15m at 1.16g/t from 11m in ARC006. Diamond drilling is expected to start in Q4 2026.
Drill resultsWaratah Unlocks 6km Expansion to Spur Gold Corridor
RC drilling results from the Alpine and Gazzards prospects at the Spur Project's Cargo Intrusive Complex include ARC018 at Alpine returning 10m @ 2.46 g/t Au from 76m, including 5m @ 4.35 g/t Au from 79m, and at Gazzards ARC009 with 8m @ 3.54 g/t Au from 120m and ARC011 with 17m @ 1.36 g/t Au from 96m. Fifteen shallow holes at Gazzards returned near-surface gold over 500m of strike, with the company interpreting a 6km corridor between Spur and Gazzards. Diamond drilling is being permitted, expected to start in Q4 2026.
Drill resultsQuarterly Activities/Appendix 5B Cash Flow Report
Drilling at the 100%-owned Spur Gold Project near Cargo, New South Wales, expanded to 12 rigs during the June 2026 quarter as part of an 80,000m program, extending the Spur Zone footprint to 550m x 800m and the Consols Zone to over 400m east-west, 500m north-south and 600m vertically, including two intercepts above 200 gram-metres. Waratah completed the Ironclad Mining Lease acquisition after quarter end and signed a binding option deed over the Goldenclad Mining Leases (ML960, ML1092, GL3694). A A$48.0 million placement at A$0.62 per share was completed, with $57.7 million cash at 30 June 2026.
CorporateNoosa Mining Conference 2026
CorporateInvestor Presentation - Noosa Mining Conference
An investor presentation for the Noosa Mining Conference, 22-24 July 2026, covers the Spur gold-copper project in NSW, where ~77,132m has been drilled across 196 holes and an 80,000m program with 10 rigs is underway in 2026. Listed top intercepts include SPRCD062 with 208.7m at 1.17 g/t Au from 514m and SPD027 with 117m at 2.01 g/t Au from 661m, with 25 intercepts exceeding 100 gram-metres. Cash was $57.7M at 30 June 2026, with a $169M market capitalisation at a share price of $0.435 on 20 July 2026.
CorporateWTM grows Spur Zone with shallow gold
Results from 13 holes at the Spur project in NSW extended shallow high-grade gold at the Spur Zone, part of an ongoing 80,000m drilling program. Hole SPD067 returned 18m at 1.12g/t Au from 61m, 3m at 9.81g/t from 142m, 11m at 3.04g/t from 154m and 79m at 1.00g/t from 252m, while SPD078 returned 52m at 0.84g/t from 84m. The drilled footprint now covers 550m by 800m ahead of a planned maiden resource estimate.
Drill resultsDrilling Delivers Shallow High-Grade Gold at Spur
Results from 13 holes at the Spur Gold Zone, part of an 80,000m drilling program at the Spur Project in New South Wales, include SPD067 with 18m @ 1.12 g/t Au from 61m and 79m @ 1.00 g/t Au from 252m, SPD071 with 38.3m @ 1.09 g/t Au from 59.4m and 84m @ 0.69 g/t Au from 150m, and SPD078 with 52m @ 0.84 g/t Au from 84m. The drilled footprint now extends to 550m x 800m, with infill drilling planned toward a mineral resource estimate.
Drill resultsCeasing to be a substantial holder
The Bank of Nova Scotia and its controlling entities ceased to be a substantial holder in Waratah Minerals Limited on 15 July 2026, with the previous notice dated 9 July 2026. The change followed sales of shares on the ASX by 1832 Asset Management L.P.: 1,934,022 shares at AUD 0.4208 on 10 July, 580,000 at AUD 0.4851 on 13 July, 1,294,754 at AUD 0.4746 on 14 July and 2,125,246 at AUD 0.4508 on 15 July.
CorporateWTM grows Consols zone at Spur
Drilling at the Consols Zone of the Spur gold-copper project in NSW returned 144m at 1.49g/t gold from 482m in SPD048, including 81m at 2.42g/t from 536m, 13m at 4.72g/t from 550m, 7m at 7.77g/t from 551m and 27m at 3.19g/t from 590m. Step-out holes included SPD051 with 18.9m at 2.06g/t from 193.1m, SPD052 with 49.16m at 1.41g/t from 255.84m and SPD056 with 26.5m at 1.89g/t from 237m. The Consols envelope now spans over 400m east-west, 500m north-south and 600m vertically, within an 80,000m campaign ahead of a resource estimate.
Drill resultsChange in substantial holding
The Bank of Nova Scotia and its controlled entities, including 1832 Asset Management L.P., reduced their voting power in Waratah Minerals from 7.36% (28,525,000 shares) to 6.31% (24,464,367 shares of 387,752,000 outstanding), with the change effective 9 July 2026. The reduction came from on-market sales on the ASX between 11 June and 9 July 2026 at prices ranging from AUD 0.4681 to AUD 0.6333 per share.
CorporateConsols Gold Zone Grows with Strong Drill Results
Five diamond holes from the Consols Zone at the Spur Project in New South Wales, part of an 80,000m drilling program, returned SPD048 144m @ 1.49 g/t Au from 482m including 81m @ 2.42 g/t Au from 536m; SPD051 18.9m @ 2.06 g/t Au from 193.1m and 74m @ 0.87 g/t Au from 282m; SPD052 49.16m @ 1.41 g/t Au from 255.84m; and SPD056 26.5m @ 1.89 g/t Au from 237m. The mineralised envelope now spans over 400m east-west, 500m north-south and 600m vertically. Drilling continues at Spur, Consols, Ironclad and Gazzards.
Drill resultsWTM secures Ironclad gold lease
Waratah Minerals has completed the acquisition of the Ironclad mining lease in New South Wales for $1m in cash, adding a drill-ready gold target 1.4km along strike from its Spur and Consols discoveries within the Macquarie Arc. Ironclad historically produced 172kg of gold (~5530oz) at grades between 30g/t and 61g/t plus 10.7t of copper between 1875 and 1890. Diamond drilling is underway, with the company planning to expand to 12 rigs.
NewsWaratah Completes Acquisition of Ironclad Mining Lease
Acquisition of 100% of the Ironclad Mining Lease (GL5828) has been completed for A$1 million cash, following regulatory approval of the extension and transfer of tenure. Ironclad lies 1.4km along strike from the Spur and Consols gold discoveries in NSW's Macquarie Arc and produced 172kg of gold at between 30g/t and 61g/t Au and 10.7 tonnes of copper between 1875 and 1890. Diamond drilling is underway, with the fleet to be expanded to 12 rigs.
AcquisitionContinued Growth at the Spur Gold Zone
Drilling results from 12 further diamond holes at the Spur Zone, Spur Project in New South Wales, part of an 80,000m growth and extensional program. SPD058 returned 55.9 m @ 2.63 g/t Au from 3.1 m, including 31.9 m @ 4.45 g/t Au and 1 m @ 108 g/t Au from 43 m, extending near-surface mineralisation 40m north along the Tywi Fault. SPD063 returned 25 m @ 2.05 g/t Au from 359 m, 180m below previous holes, and SPD039 returned 102.9 m @ 0.73 g/t Au from 210 m.
NewsChange of Director's Interest Notice - D.Clark (correction)
Director Darryl Clark acquired 1,000,000 performance rights expiring 17 June 2029 (ASX:WTMAAG) on 17 June 2026 for nil consideration, issued as approved by shareholders on 25 May 2026 on terms disclosed in the Notice of Meeting dated 23 April 2026. His holdings after the change comprise 3,632,554 ordinary shares, 500,000 ZEPO options, 1,500,000 Class A performance rights, 1,500,000 Class B performance rights and the 1,000,000 new performance rights.
CorporateNotice Under Section 708A(5)(e) of the Corporations Act
71,788 fully paid ordinary shares were issued on 15 June 2026 at a deemed issue price of $0.6965 per share to the holder of shares in M.N.I. Mining Pty Ltd, as partial consideration for the initial option fee under the binding option deed announced to ASX on 2 June 2026. The shares were issued without disclosure under Part 6D.2, and Waratah Minerals gave notice under section 708A(5)(e) of the Corporations Act.
CorporateNotification regarding unquoted securities - WTM
11,250,000 unquoted performance rights (WTMAAG) were issued on 17 June 2026 under an employee incentive scheme. Recipients include key management personnel: Andrew Stewart 4,250,000, Peter Duerden 3,500,000, Naomi Margaret Scott 2,500,000 and Darryl James Clark 1,000,000, with terms set out in the notice of meeting lodged with ASX on 23 April 2026. Following the issue, Waratah has 387,752,326 quoted ordinary shares and 26,750,000 performance rights on issue.
NewsChange of Director's Interest Notice - Peter Duerden
Director Peter Duerden acquired 3,500,000 performance rights (ASX:WTMAAG) expiring 17 June 2029 on 17 June 2026, for nil consideration, held indirectly through Duerden Investments Pty Limited. The rights were issued as approved by shareholders on 25 May 2026, on terms disclosed in the Notice of Meeting dated 23 April 2026. Duerden's indirect holdings now include 7,419,739 ordinary shares, 128,206 ordinary shares via a superannuation fund, 583,334 ZEPO options and 2,500,000 each of Class A and Class B performance rights.
CorporateChange of Director's Interest Notice - Naomi Scott
Director Naomi Scott acquired 2,500,000 Performance Rights expiring 17/06/29 (ASX: WTMAAG) on 17 June 2026 for nil consideration, issued as approved by shareholders on 25 May 2026 on terms disclosed in the Notice of Meeting dated 23 April 2026. Her holdings after the change are 486,933 ordinary shares, 750,000 Class B Performance Rights and 2,500,000 Performance Rights expiring 17/06/29.
CorporateChange of Director's Interest Notice - Darryl Clark
Director Darryl Clark acquired 1,000,000 performance rights expiring 17 June 2029 for nil consideration on 17 June 2026, issued as approved by shareholders on 25 May 2026 on terms disclosed in the Notice of Meeting dated 23 April 2026. His holdings after the change are 3,132,554 ordinary shares, 500,000 ZEPO options, 1,500,000 Class A performance rights, 1,500,000 Class B performance rights and 1,000,000 performance rights expiring 17/06/29.
CorporateChange of Director's Interest Notice - Andrew Stewart
Director Andrew Stewart acquired an indirect interest in 4,250,000 Performance Rights expiring 17/06/29, issued for nil consideration on 17 June 2026 through A L Stewart Family Pty Ltd. The rights were issued as approved by shareholders on 25 May 2026 on terms disclosed in the Notice of Meeting dated 23 April 2026. Following the change, he holds 101,856 ordinary shares directly, with 2,475,000 ordinary shares, 750,000 Class A and 750,000 Class B Performance Rights held indirectly.
CorporateApplication for quotation of securities - WTM
71,788 fully paid ordinary shares have been applied for quotation on the ASX, issued on 15 June 2026 for non-cash consideration under a placement or other issue previously notified in an Appendix 3B announced on 2 June 2026, at an estimated value of A$0.696495236 per security. Following quotation, Waratah Minerals will have 387,752,326 quoted ordinary shares on issue, plus unquoted options and 15,500,000 performance rights.
NewsExplorers Podcast: Waratah targets major gold growth at Spur and Consols
A podcast interview with executive chairman Andrew Stewart covers the Spur and Consols gold discovery in the Macquarie Arc, New South Wales, where recent drilling has continued to expand mineralisation and identify new high-grade zones. Waratah has 10 drill rigs turning and more than $60 million in cash, running one of the largest exploration programmes on Australia's east coast as it works towards an initial mineral resource. The podcast was developed in collaboration with Waratah, a Stockhead advertiser.
CorporateExceptional Results Demonstrate Scale Upside at Spur Project
Results from an 80,000m growth and extensional drilling program at the Spur and Consols Gold Zones, Spur Gold Project, New South Wales, include SPD036 at Consols with 26.8m @ 1.58 g/t Au from 540.2m, 51m @ 1.5 g/t Au from 629m (including 9m @ 6.17 g/t Au) and 3.82m @ 16.34 g/t Au from 706.18m, drilled 100m beneath SPD019. SPD031 extended mineralisation 160m up dip, returning 42m @ 1.08 g/t Au from 457m. At Spur, SPD054A returned 31m @ 1.69 g/t Au from 86m and SPD045 37m @ 1.33 g/t Au from 39m.
NewsWaratah Consolidates Spur Gold District
A binding option deed has been executed giving Waratah Minerals the right to acquire 100% of the shares in M.N.I. Mining Pty Ltd, sole owner of the Goldenclad Mining Leases ML960, ML1092 and GL3694, located 1.6km along strike from the Spur and Consols gold discoveries in the East Lachlan region of New South Wales. Total payments of up to $1.2 million cover a 24-month option ($100,000 initial fee), $500,000 on exercise, a $500,000 bonus on a proved 20,000oz JORC reserve, a $400,000 exploration commitment and a 1.5% NSR. Drilling is planned for Q3 2026.
AcquisitionProposed issue of securities - WTM
A maximum of 359,712 ordinary fully paid shares are proposed to be issued as part consideration for the acquisition of the Goldenclad mining leases ML960, ML1092 and GL 3694, with a proposed issue date of 29/6/2028. The shares are non-cash consideration with an estimated AUD equivalent of $250,000, with the final number based on the five-day VWAP up to the issue date; the indicated number uses the prior closing price of $0.695 per share. Security holder approval will be sought where the company lacks sufficient Listing Rule 7.1 capacity.
FinancingInitial Director's Interest Notice - Johan van Vuuren
Johan van Vuuren was appointed a director of Waratah Minerals Limited on 26 May 2026. He holds no securities as registered holder, and holds an indirect interest in 29,000 ordinary fully paid shares held by Citicorp Nominees Pty Ltd as nominee and custodian. No director's interests in contracts were disclosed.
CorporateAppointment of Johan Van Vuuren as Non-executive Director
Johan Van Vuuren has been appointed an independent Non-Executive Director of Waratah Minerals, effective immediately. He was most recently Senior Vice President Corporate Development at Tadawul-listed Saudi Arabian Mining Company (Maaden), and has previously held roles including Group Chief Strategy & Transformation Officer and Group CFO at Middle East Paper Company. Waratah's flagship asset is the Spur Gold and Copper Project in the East Lachlan region of New South Wales.
ManagementChair's Address to Shareholders
Addresses and a presentation delivered at the 2026 Annual General Meeting by Executive Chairman Dr Andrew Stewart and Managing Director Peter Duerden outline the company's focus on the 100%-owned Spur Gold Project in the Macquarie Arc, western New South Wales, with more than 50,000 metres drilled over 18 months and an 80,000-metre growth and discovery program underway in 2026 using 10 rigs. A maiden Mineral Resource Estimate for Spur is targeted for the first quarter of calendar 2027. Over $86 million was raised in the past 12 months, with cash of $60 million at 18 May 2026.
CorporateResults of Annual General Meeting
All resolutions considered at Waratah Minerals' Annual General Meeting, held on 25 May 2026, are reported in an attached report setting out poll voting results and proxy votes, as required by ASX Listing Rule 3.13.2 and Section 251AA of the Corporations Act 2001 (Cth). The release was authorised by the Company Secretary.
CorporateInvestor Presentation
An investor presentation for the Spur gold-copper project in NSW outlines an 80,000-metre drilling program in 2026 with 10 rigs active, following 149 holes and about 53,500m drilled to date, including 23 intercepts exceeding 100 gram-metres. Top results include SPRCD062 with 208.7m @ 1.17 g/t Au from 514m and SPD027 with 117m @ 2.01 g/t Au from 661m at Consols. Cash at bank was $60M at 18 May 2026, including a $48 million placement, with a $262M market capitalisation.
CorporateChange in substantial holding
Substantial holders Gladstone Mining (WA) Pty Ltd and Stuart Tonkin SMSF Pty Ltd increased their holding in Waratah Minerals to 33,000,000 ordinary shares, with voting power moving from 9.51% to 8.51% following a change on 15/05/2026. Changes since the 01/12/2025 notice comprised on-market purchases between 19/01/2026 and 12/05/2026, an internal transfer of 3,750,000 shares on 26/03/2026, and a share placement of 1,612,904 shares at $0.62 per share on 14/05/2026 for $1,000,000.48.
CorporateApplication for quotation of securities - WTM
77,419,355 ordinary fully paid shares were issued on 14 May 2026 at A$0.62 per share, under a placement previously announced on 7 May 2026, and have been applied for quotation on the ASX. No further issues remain to complete the transaction. Following quotation, Waratah Minerals will have 387,680,538 quoted ordinary shares on issue, plus unquoted options and 15,500,000 performance rights.
NewsNotice under section 708A(5)(e) of the Corporations Act 2001
77,419,355 fully paid ordinary shares were issued on 14 May 2026 at $0.62 per share to professional and sophisticated investors under a private placement arranged by Bell Potter Securities Limited. Waratah Minerals issued the shares without disclosure under Part 6D.2 and has given notice under section 708A(5)(e) of the Corporations Act 2001 (Cth), confirming compliance with Chapter 2M and sections 674 and 674A and that no excluded information is required to be disclosed.
Corporate$48m placement to fund aggressive drilling program at Spur
Firm commitments for A$48.0 million (before costs) have been received via a placement of approximately 77.4 million new shares at A$0.62 each, a 12.1% discount to the 4 May 2026 close of A$0.705, with Bell Potter as Sole Lead Manager and Bookrunner. Settlement is anticipated on 13 May 2026 and allotment on 14 May 2026. Funds will support extensional, resource and exploration drilling at the 100%-owned Spur Gold Project, metallurgical test work and working capital, with a maiden Mineral Resource Estimate due Q1 CY2027 and 10 rigs on site.
FinancingProposed issue of securities - WTM
A placement of 77,419,355 fully paid ordinary shares at A$0.62 per share is proposed, with an issue date of 14 May 2026. The shares will be issued without security holder approval using 46,393,237 under listing rule 7.1 and 31,026,118 under rule 7.1A, with Bell Potter Securities Limited as lead manager for a fee of 5% of placement proceeds. Proceeds are for extensional and resource drilling at the Spur and Consols gold zones, exploration drilling at Gazzards, Alpine and Ironclad, metallurgical test work, geochemistry, geophysics and working capital.
FinancingRIU Resources Roundup Investor Presentation
An investor presentation for the RIU Resources Roundup covers the Spur Gold-Copper Project in NSW, where SPD027 returned 117m @ 2.01 g/t Au from 661m, including 7m @ 26.54 g/t Au from 698m, and SPD038 returned 80m @ 1.75 g/t Au from 0m, including 10m @ 8.29 g/t Au from 69m. The Consols Zone now measures more than 300m east-west, 400m north-south and 600m vertically. An 80,000m drilling program is underway in 2026 with 10 rigs active, following 149 holes for about 53,500m to date. Cash at bank was $22.5M at 31 March 2026.
CorporateDrilling Returns second 200 gram-metre Intercept at Consols
Assay results from five diamond drill holes at the 100%-owned Spur Gold Project (EL5238/GL5828) in New South Wales include SPD027 at Consols, which returned 117m @ 2.01 g/t Au from 661m, including 7m @ 26.54 g/t Au from 698m and 1m @ 120 g/t Au from 701m, plus 14m @ 2.35 g/t Au from 612m. The intercept sits 100m downdip of existing drilling, extending the Consols Zone to over 300m east-west, 400m north-south and 600m vertically. At Spur, SPD038 returned 80m @ 1.75 g/t Au from surface, including 10m @ 8.29 g/t Au from 69m.
Drill resultsQuarterly Activities/Appendix 5B Cash Flow Report
Ten drill rigs completed 26 holes for 14,822m at the 100%-owned Spur Gold Project in New South Wales during the March 2026 quarter, part of an 80,000m program. Results included 80m @ 1.78g/t Au from 271m at Consols and 6m @ 24.56g/t Au from 329m at Spur, with early test work indicating gold recoveries of 90-97%. Waratah signed a binding agreement to acquire the Ironclad Mining Lease (GL5828) for A$1 million cash and held $22.4 million at 31 March 2026.
CorporateChange of Director's Interest Notice - Naomi Scott
Director Naomi Scott's holdings changed on 22 April 2026 through the cancellation of 66,667 unlisted options exercisable at $1.20 (WTMAAA) and 66,667 unlisted options exercisable at $1.65 (WTMAAB), both expiring 31/03/26, following the expiry of the exercise period without exercise. No consideration was paid. She retains 486,933 ordinary shares and 750,000 Class B Performance Rights.
CorporateNotice of Annual General Meeting/Proxy Form
An annual general meeting will be held at 11:00am (AEST) on Monday 25 May 2026 at Level 41, 161 Castlereagh Street, Sydney NSW 2000, with eligibility to vote set at 7pm (AEST) on 23 May 2026. Resolutions cover adoption of the remuneration report for the year ended 31 December 2025, re-election of Dr Andrew Stewart, issue of 11,250,000 performance rights to directors Peter Duerden (3,500,000), Andrew Stewart (4,250,000), Darryl Clark (1,000,000) and Naomi Scott (2,500,000), approval of the Listing Rule 7.1A 10% placement mandate, and re-adoption of the Employee Securities Incentive Plan covering up to 10,000,000 securities.
CorporateNotification of cessation of securities - WTM
166,668 unquoted options exercisable at $1.20 and 166,668 unquoted options exercisable at $1.65, both with a 31 March 2026 expiry, ceased on 22 April 2026 following expiry without exercise or conversion, with no consideration paid. Issued capital now comprises 310,261,183 quoted ordinary fully paid shares plus unquoted securities including 15,500,000 performance rights, 23,600,000 options at $0.16 and 7,977,000 options at $0.08, both expiring 19 December 2028.
CorporateHigh-Grade Gold Mineralisation Continues to Grow at Consols
Assay results from seven diamond drill holes at the 100%-owned Spur Gold Project (EL5238) in New South Wales include SPD025 at Consols returning 54m @ 1.88 g/t Au from 446m, including 10m @ 7.89 g/t Au from 486m, plus 89m @ 0.63 g/t Au from 518m and 40m @ 1.42 g/t Au from 767m, extending the broad high-grade zone 75m west. At Spur, SPD033 returned 8m @ 7 g/t Au from 91m, including 1m @ 42.39 g/t Au. Drilling continues with 10 rigs onsite.
Drill resultsInvestor Presentation
An investor presentation was released for the Spur Gold-Copper Project in NSW, covering 100% ownership of a ~100 square kilometre district-scale position, with 134 holes for about 53,500m drilled to date and top intercepts including 208.7m @ 1.17 g/t Au from 514m (SPRCD062, Consols) and 104m @ 1.53 g/t Au from 112m (SPRC007, Spur). An 80,000-metre drilling program with 10 active rigs is underway in 2026. Geometallurgical work indicated gold recoveries of 90-97% by gravity and conventional leaching. Cash at bank was $28.6M at 31 December 2025, with a market capitalisation of $235M at a share price of $0.76 on 14 April 2026.
CorporateChange in substantial holding
The Bank of Nova Scotia and its controlled entities, including 1832 Asset Management L.P., reduced their holding in Waratah Minerals from 30,593,653 shares (9.86%) to 30,500,180 shares (9.83%), based on 310,261,183 shares outstanding. The change occurred on 9 April 2026 and followed on-market ASX trades: increases of 181,140 shares at AUD 0.6795 on 30 March and 188,250 shares at AUD 0.6864 on 31 March, and a decrease of 462,863 shares at AUD 0.6769 on 9 April.
CorporateChange in substantial holding
The Bank of Nova Scotia and its controlled entities, including 1832 Asset Management L.P., increased their holding in Waratah Minerals from 28,138,043 shares (9.10%) to 30,593,653 shares (9.86%), based on 310,261,183 shares outstanding, with the change occurring on March 30, 2026. The increase came from on-market purchases on the ASX of 1,825,000 shares at AUD 0.7911 on March 6, 497,618 shares at AUD 0.6777 on March 26 and 132,992 shares at AUD 0.6729 on March 27, 2026.
CorporateAGM Date Listing Rule 3.13.1
The 2026 Annual General Meeting will be held on Monday, 25 May 2026, disclosed under ASX Listing Rule 3.13.1. Nominations from persons wishing to be considered for election as a director close on 10 April 2026. Further details will be provided in the Notice of Meeting to be released to ASX and sent to shareholders.
CorporateConsols High-Grade Gold Mineralisation and System Expansion
Assay results from five diamond drill holes at the 100%-owned Spur Gold Project (EL5238) in New South Wales include SPD025, with partial results to 387m, returning 80m at 1.78g/t Au from 271m, including 11m at 7.32g/t Au from 290m, and SPD019w returning 72.5m at 1.58g/t Au from 431m, including 3.5m at 7.97g/t Au from 480.5m. SPD015 returned 5m at 10.93g/t Au from 854m, and Spur hole SPD028 returned 41m at 0.96g/t Au from 271m. Nine rigs are active and approvals were received for 150 additional drill sites.
Drill resultsNotice Under Section 708A(5)(e) of the Corporations Act
1,000,000 fully paid ordinary shares were issued on 20 March 2026 at $0.16 per share upon the exercise of options by Waratah Minerals Limited (ASX: WTM). The shares will be offered without disclosure under Part 6D.2 of the Corporations Act, with the notice given under section 708A(5)(e). The Company states it has complied with Chapter 2M and sections 674 and 674A, and that there is no excluded information to disclose.
CorporateNotification regarding unquoted securities - WTM
2,350,000 unquoted performance rights (WTMAAG) were issued on 19 February 2026 to non-KMP employees under the Employee Securities Incentive Plan approved by shareholders on 31 May 2023, using the Listing Rule 7.2 exception 13. Following the issue, Waratah Minerals has 310,261,183 quoted ordinary shares and 15,500,000 performance rights on issue, along with various unquoted options.
NewsCorporate Governance Statement & Appendix 4G
Corporate Governance Statement and Appendix 4G lodged for the period ended 31 December 2025, accurate as at 25 March 2026 and approved by the Board. Non-conformances disclosed include no measurable gender diversity objectives, only two of four directors independent (Darryl Clarke and Naomi Scott), a non-independent Executive Chair, no separate anti-bribery and corruption policy, no internal audit function, and audit, risk, remuneration and nomination committees that do not meet membership composition requirements.
CorporateChange of Registered Office
Waratah Minerals' registered office changes effective 25 March 2026 to c/- MUFG Corporate Governance, Liberty Place Level 41, 161 Castlereagh Street, Sydney NSW 2000. Its principal place of business changes the same date to Building D, 5-7 Edward Street, Orange, NSW 2800. Telephone numbers and email addresses remain unchanged.
CorporateApplication for quotation of securities - WTM
1,000,000 ordinary fully paid shares will be quoted on the ASX following the exercise of options expiring 19 December 2028 at $0.16 each, issued 17 July 2025, for cash consideration of AUD 0.16 per security, with an issue date of 20 March 2026. Following quotation, Waratah Minerals will have 310,261,183 ordinary shares on issue, with 23,600,000 options exercisable at $0.16 remaining unquoted.
NewsChange in substantial holding
The Bank of Nova Scotia and its controlled entities, including 1832 Asset Management L.P., increased their holding in Waratah Minerals from 24,257,243 shares (7.84%) to 28,138,043 shares (9.10%), based on 309,261,183 shares outstanding, with the change occurring on 5 March 2026. The increase came from 355,800 shares acquired at AUD 0.6059 under a private placement on 5 February 2026 and on-market ASX purchases between 6 February and 5 March 2026 at prices from AUD 0.5880 to AUD 0.7165.
CorporateCeasing to be a substantial holder
Regal Partners Funds Management Pty Ltd and its associates ceased to be a substantial holder in Waratah Minerals Ltd on 4 March 2026. The Form 605 lists a series of on-market buys and sells since the previous notice dated 7 May 2025, including final sales on 4 March 2026 of 65,112 and 89,487 ordinary shares for $45,370.04 and $64,242.72.
CorporateDrilling Expands Spur and Consols Gold Systems
Assay results from six diamond holes at the 100%-owned Spur Gold Project (EL5238) in New South Wales include SPD019, drilled 80m east of previous drilling at Consols, returning 74m at 1.6g/t Au from 453m, including 27m at 2.35g/t Au from 475m, plus 18.15m at 2.9g/t Au from 597.85m and 12m at 3.25g/t Au from 892m. SPD014 extended shallow mineralisation 150m southwest of SPRCD062 with 38.4m at 1.41g/t Au from 237m. At Spur, SPD026 returned 227m at 0.62g/t Au from 136m and 36.35m at 2.32g/t Au from 447.35m. Seven rigs are active.
Drill resultsInvestor Presentation - RIU Explorers Conference
An investor presentation for the RIU Explorers Conference outlines the Spur Gold-Copper Project in NSW, where 24,523m of RC and diamond drilling was completed in 2025, including a best intercept of 208.7m @ 1.17 g/t Au from 514m (including 89m @ 1.96 g/t Au from 614m) at Consols. An 80,000m drilling program is underway in 2026 with 7 rigs active, and the company reports cash of $28.6M at 31 December 2025, 309M shares on issue and a $191M market capitalisation. It also notes the acquisition of 100% of Mining Lease GL5828 (Ironclad) along strike from Spur and Consols, and geometallurgical gold recoveries of 90-97%.
CorporateStrategic Acquisition expands Spur Gold Project
A binding agreement has been executed to acquire 100% of the Ironclad Mining Lease (GL5828) for A$1 million cash, including a A$100,000 exclusivity fee, with the balance payable on satisfaction of extension and transfer conditions. The lease sits 1.4km along strike from the Spur and Consols gold discoveries at the Spur Gold Project in New South Wales, and produced 172kg of gold at between 30g/t and 61g/t Au plus 10.7 tonnes of copper between 1875 and 1890. Historical drilling includes JG123, 34m @ 1.04g/t Au from 8m. Drill planning and permitting have commenced, targeting drilling at priority targets in Q2 2026.
AcquisitionHigh Gold Recoveries at Spur Zone - Geometallurgical Results
Initial geometallurgical test work on samples from the Spur Zone at the Spur Project (EL5238) in New South Wales returned gold recoveries of over 90% (90-97%) by combined gravity and conventional cyanide leaching, with gravity recovery of 15-45% (average 33.6%) and cyanidation recovery of a further 51-74% (average 60%). Gold grains up to 688 µm were confirmed across 177 grains detected by micro-XRF in 18 samples, with 0.6% of gold locked in silicates. Gold deportment work is underway at the Consols Zone, and seven rigs are drilling an 80,000m program.
Study resultsInvestor Presentation - Precious & Base Metal Conference
An investor presentation for the Eastern Seaboard Precious & Base Metals Conference was released, covering the Spur Gold-Copper Project in the Macquarie Arc, NSW. Recent drilling returned 42m @ 2.95g/t Au from 262m including 12m @ 9.73g/t Au from 287m at Consols (SPD015) and 6m @ 24.56g/t Au from 329m including 1m @ 146g/t Au from 333m at Spur (SPD021). An 80,000-metre drilling program is underway in 2026 with 7 rigs active, and the company held $29M cash at 31 December 2025.
CorporateDrilling returns high-grade gold hits from Consol & Spurs
Drilling at the 100%-owned Spur Gold Project (EL5238) in New South Wales returned 42m @ 2.95g/t Au from 262m in SPD015, including 12m @ 9.73 g/t Au from 287m, plus 35m @ 1.75 g/t Au from 452m; assays are partial to 494m with the hole still in progress and remaining results expected in late February. SPD011 returned 40m @ 1.16g/t Au from 766m. At Spur, SPD021 returned 6m @ 24.56 g/t Au from 329m, including 1m @ 146 g/t Au. Seven rigs are active.
Drill resultsChange in substantial holding
The Bank of Nova Scotia and its controlled entities, including 1832 Asset Management L.P., increased their holding in Waratah Minerals from 17,256,936 shares (6.80%) to 24,257,243 shares (7.84%), based on 309,261,183 shares outstanding. Changes included 5,248,807 shares acquired via a private placement at AUD 0.5750 on October 13, 2025, and on-market ASX purchases in January 2026 at prices between AUD 0.5811 and AUD 0.6195. The notice is dated January 29, 2026.
CorporateQuarterly Activities Report - December 2025
Drilling at the 100%-owned Spur gold-copper project in New South Wales during the December 2025 quarter returned 7m @ 6.5 g/t Au from 287m (SPD006), 12m @ 4.65 g/t Au from 355.4m (SPD008), 86m @ 1.36 g/t Au from 123m (SPD007) and, at the Consols Zone, 71m @ 1.65 g/t Au from 582m (SPD009). Seven diamond rigs are operating ahead of an 80,000m 2026 program. Cash and listed investments were $28.6 million at 31 December 2025, with exploration spend of $3.7m.
CorporateAppendix 5B Cash Flow Report - December 2025
Cash and cash equivalents stood at $28.632 million at 31 December 2025, up from $16.098 million at the start of the quarter, following $18.069 million in proceeds from equity issues less $1.076 million in related transaction costs. Operating cash outflows were $4.250 million for the quarter, including $3.749 million on exploration and evaluation and $0.639 million on administration and corporate costs. Estimated quarters of funding available was 6.7. Payments to related parties totalled $179,000.
Corporate80,000m drilling commences at Spur Gold Project
An 80,000-metre growth and discovery drilling program is underway at the 100%-owned Spur Gold Project (EL5238) in New South Wales, with seven diamond rigs operating. About 40,000m is planned at the Consols Zone, using 100m to 150m step-out holes from SPRCD062 (208.7m @ 1.17 g/t Au from 514m), and about 40,000m of definition drilling at the Spur Zone testing mineralisation to 400m depth. Regional soil sampling and a Sub-Audio Magnetotellurics survey are underway, with RC drilling scheduled at Alpine and Gazzard's.
Drill results
202582 releases
Drilling continues to extend gold mineralisation at Spur
New assay results from two diamond holes at the Spur Zone, Spur Project (EL5238) in New South Wales, include SPD013 with 11m @ 2.86g/t Au from 33m, 7.5m @ 6.24g/t Au from 63m, 15.1m @ 0.82g/t from 395m (including 7.1m @ 1.18g/t Au from 403m) and 13m @ 1.29g/t Au from 461m (including 2.9m @ 3.14g/t from 464m). SPD012 returned 8m @ 2.66g/t Au from 270.8m. Six rigs are active, two at Spur and four at Consols, with four holes pending assays and six underway.
Drill resultsBoard Restructure to accelerate Spur Project
Dr. Andrew Stewart will transition to Executive Chair of Waratah Minerals from 1 January 2026, employed full-time for remuneration of A$200,000 including superannuation, with participation in the Company's short-term and long-term incentive schemes and a 6 months' notice period. Peter Duerden remains Managing Director, continuing exploration at the Spur Gold and Copper Project. The changes follow 2025 drilling that extended high-grade gold mineralisation at the Spur Zone and included drilling at the Consols Zone.
ManagementWaratah appoints MUFG Corporate Governance
MUFG Corporate Governance Pty Ltd has been appointed to provide Waratah Minerals' full suite of governance and company secretarial services. Bill Hundy has been appointed Company Secretary and will be the person responsible for communication with ASX on listing rule matters under Listing Rule 12.6. Richard Willson has resigned as Company Secretary effective today and will remain engaged as a corporate advisor during a transition period.
ManagementChange in Substantial Holding - Gladstone Mining
Gladstone Mining (WA) Pty Ltd and Stuart Tonkin SMSF Pty Ltd lifted their combined holding in Waratah Minerals to 29,400,000 ordinary shares, or 9.51% voting power, as at 1 December 2025, up from 8.40% on 13 August 2025 and 13,286,316 shares (9.89%) in the prior notice dated 8 December 2023. The increase came via on-market purchases, option exercises and placements at $0.25, $0.275 and $0.575 per share, including a $84,150.00 purchase of 150,000 shares on 1 December 2025.
CorporateDrilling Extends Gold Mineralisation at Spur and Consols
Three diamond holes at the Spur Gold Project (EL5238) in New South Wales returned gold intercepts, including 71m at 1.65 g/t Au from 582m and 25m at 2.27 g/t Au from 628m in Consols extensional hole SPD009, 42m at 0.79 g/t Au from 574m in SPRCD080w, and 107.4m at 0.67 g/t Au from 198m in Spur infill hole SPD010. Waratah has expanded to five drill rigs and switched to PhotonAssay, and received a $250,000 NSW government co-contribution grant toward 2,000m of drilling at Consols and Breccia West.
Drill resultsResponse to ASX Price Query
Waratah Minerals responded to an ASX price query dated 11 November 2025 regarding the move in its share price from an opening price of $0.715 to an intraday low of $0.59 and increased trading volumes between 7 and 11 November 2025. The company said it held incomplete exploration results from its Spur Gold-Copper Project, requested a trading halt and released verified results concurrently with the response. Assays for drill holes SPD011, SPD012 and SPD013 are expected in about 4 weeks.
NewsPrecious Metals Summit Zurich Presentation
An investor presentation released for the Precious Metals Summit Zurich outlines drilling at the 100%-owned Spur Gold-Copper Project in the East Lachlan/Macquarie Arc, NSW, including 208.7m @ 1.17 g/t Au from 514m (including 89m @ 1.96 g/t Au from 614m and 38m @ 3.61 g/t Au from 665m) at the Consols Zone, 11m @ 10.82 g/t Au from 154m in SPRC002, and 196m @ 0.54% CuEq from 1m in BZD001. Waratah lists 309M shares on issue, a $0.70 share price at 10 November 2025, $216M market capitalisation and $34M cash at 1 October 2025.
CorporateCapital Structure Clarification
An administrative error on 16 October 2025 saw 2,166,668 WTMAAC Options held by two Directors converted to shares, when only 1,083,334 should have been converted under the terms of issue. The Company determined the additional issue is void and has asked its share registry to void 1,083,334 shares and reinstate 1,083,334 WTMAAC Options. Ordinary fully paid shares on issue now total 309,261,183, with 1,083,334 WTMAAC Options outstanding.
CorporateApplication for quotation of securities - WTM - Amended
Quotation was sought for 1,083,334 ordinary shares issued on 16/10/2025 on exercise of 1,083,334 WTMAAC options held under an employee incentive scheme, including 583,334 exercised by Peter Duerden and 500,000 by Dr Darryl Clark. The announcement amends a previous notice dated 16/10/2025 to correct the number of shares. Not all options of that type have been exercised.
FinancingChange of Director's Interest Notice - P Duerden - Amended
Director Peter Duerden acquired 583,334 ordinary shares on 16 October 2025 through the exercise of 583,334 ZEPO Options held by Duerden Investments Pty Limited, for nil consideration. Following the change, his indirect holdings comprise 7,419,739 ordinary shares and 583,334 ZEPO Options via Duerden Investments, 128,206 ordinary shares via the Gondwana Super Fund, plus 2,500,000 Class A and 2,500,000 Class B Performance Rights. The notice is an amended Appendix 3Y; the last notice was 13 August 2025.
CorporateChange of Director's Interest Notice - D Clark - Amended
Director Darryl Clark exercised 500,000 ZEPO Options for nil consideration on 16 October 2025, acquiring 500,000 ordinary shares in Waratah Minerals. His direct holding after the change is 3,632,554 ordinary shares, 500,000 ZEPO Options, 1,500,000 Class A Performance Rights and 1,500,000 Class B Performance Rights. The amended Appendix 3Y notes the trade did not occur in a closed period; the previous notice was dated 13 August 2025.
CorporateNotification of cessation of securities - WTM
2,333,336 unquoted options (WTMAZ, expiring 22-Oct-2025, nil exercise price) ceased on 30 October 2025 due to expiry without exercise or conversion, with no consideration paid. Following the cessation, Waratah Minerals has 310,344,517 quoted ordinary fully paid shares on issue, plus unquoted securities including 13,150,000 performance rights and options expiring between 31-Mar-2026 and 19-Dec-2028.
CorporateQuarterly Cashflow Report - September 2025
Cash and cash equivalents stood at $16.098 million at 30 September 2025, up from $7.543 million at the start of the quarter, after $12.169 million net cash from financing activities including $11.931 million from equity issues and $0.864 million from option exercises. Operating activities used $3.377 million during the quarter, including $2.755 million on exploration and evaluation and $0.690 million on administration and corporate costs. Estimated funding available is 4.76 quarters, with payments to related parties of $147,000.
CorporateQuarterly Activities Report - September 2025
Extensional drilling at the Spur Gold Corridor, Spur Project (EL5238) in New South Wales, returned 208.7m @ 1.17 g/t Au from 514m in SPRCD062, including 89m @ 1.96 g/t Au from 614m and 38m @ 3.61 g/t Au from 665m, extending the corridor 500m along strike to over 1.5km. Other results included 9m @ 5.59 g/t Au from 183m (SPRC079) and 93m @ 0.51 g/t Au from 288m (SPRC080). A$30 million was raised at A$0.575 per share, with A$16.1 million cash at 30 September 2025 and two additional rigs due by the December quarter.
CorporateApplication for quotation of securities - WTM
2,166,668 ordinary fully paid shares will be quoted on the ASX following the exercise of all WTMAAC zero exercise price options expiring 31 January 2027, issued under an employee incentive scheme, with an issue date of 16 October 2025. The options were exercised by key management personnel Peter Duerden (1,166,668) and Darryl Clark (1,000,000), with the consideration valued at an estimated $0.80 per security. Following quotation, WTM will have 278,470,602 ordinary shares on issue.
NewsNotice Under Section 708A(5) of the Corporations Act
2,166,668 fully paid ordinary shares were issued at an issue price of $Nil per share upon the exercise of options. Waratah Minerals gave notice under section 708A(5)(e) of the Corporations Act that the shares were issued without disclosure under Part 6D.2, and that it has complied with Chapter 2M and sections 674 and 674A, with no excluded information to be disclosed.
CorporateChange of Director's Interest Notice - Peter Duerden
Director Peter Duerden acquired an indirect interest in 1,166,668 ordinary shares of Waratah Minerals on 16 October 2025 through the exercise of options at nil consideration, with 1,666,668 ZEPO Options disposed of. Duerden Investments Pty Limited now holds 8,003,073 ordinary shares, 2,500,000 Class A Performance Rights and 2,500,000 Class B Performance Rights, with a further 128,206 ordinary shares held via P B & EL Duerden Gondwana S/F Account.
CorporateChange of Director's Interest Notice - Darryl Clark
Director Darryl Clark exercised 1,000,000 ZEPO Options for nil consideration on 16 October 2025, acquiring 1,000,000 ordinary shares in Waratah Minerals. His direct holding rose from 3,132,554 to 4,132,554 ordinary shares, and he continues to hold 1,500,000 Class A and 1,500,000 Class B Performance Rights.
CorporateDrilling Extends Gold Mineralisation at Spur
Four diamond holes at the Spur Zone, part of the Spur Project (EL5238) in the East Lachlan region of New South Wales, returned 7m at 6.5 g/t Au from 287m including 3.3m at 13.39 g/t (SPD006), 12m at 4.65 g/t from 355.4m (SPD008), 101m at 0.75 g/t from 195m (SPD004) and 86m at 1.36 g/t from 123m including 1m at 40.9 g/t (SPD007). SPD006 and SPD008 extended mineralisation 150m down plunge. Two holes at the Consols Zone are near completion with results expected this month; three rigs are active and two more arrive within a fortnight.
Drill resultsInvestor Presentation - Australian Gold Conference
An investor presentation released for the Australian Gold Conference covers the Spur Gold-Copper Project in the Macquarie Arc, NSW, 100% owned, highlighting previously reported drill results including 11m @ 10.82 g/t Au from 154m (SPRC002), 89m @ 1.73 g/t Au and 0.08% Cu from 115m (SPRC007), 196m @ 0.54% CuEq from 1m (BZD001), and 208.7m @ 1.17 g/t Au from 514m including 38m @ 3.61 g/t Au from 665m (SPRCD062). Waratah reports 308M shares on issue, a $212M market capitalisation at $0.69 (13 Oct 2025) and $34M cash at 1 October 2025, with drilling, metallurgical testwork and target definition planned through the March quarter.
CorporateNotice of General Meeting - Clarification
A clarification was issued to the Notice of General Meeting dated 10 September 2025, correcting item 4.1 on page 10 of the Explanatory Statement for Resolutions 4, 5, 6 and 7. The total number of Performance Rights to be issued, subject to shareholder approval, to Mr Peter Duerden, Dr Andrew Stewart, Dr Darryl Clark and Ms Naomi Scott is 8 million, not 13.95 million. No resolutions changed and the Proxy Form remains unchanged.
CorporateApplication for quotation of securities - WTM
3,000,000 ordinary fully paid shares will be quoted on the ASX from 11 September 2025, issued on exercise of options expiring 19 December 2028 at an exercise price of AUD 0.16 per security. Following quotation, Waratah Minerals will have 276,303,934 ordinary shares on issue, with 24,600,000 of the $0.16 options remaining unexercised.
NewsNotice Under Section 708A(5) of the Corporations Act
3,000,000 fully paid ordinary shares have been issued by Waratah Minerals upon the exercise of options at an issue price of $0.16 per share. The shares were issued without disclosure under Part 6D.2 of the Corporations Act, with the Company giving notice under section 708A(5)(e) confirming compliance with Chapter 2M and sections 674 and 674A.
CorporateInvestor Presentation
A September 2025 investor presentation was released for the Spur Gold-Copper Project in the Macquarie Arc, NSW, citing drill results including 208.7m @ 1.17 g/t Au from 514m (including 38m @ 3.61 g/t Au from 665m) in SPRCD062 at the Consols Zone, 11m @ 10.82 g/t Au from 154m in SPRC002, and 84m @ 0.62% CuEq from 29m in BZD001 at Breccia West. Corporate details include 273M shares on issue, a $0.72 share price (3 Sep 2025), $196M market capitalisation and $16.5M cash at bank at 1 September 2025.
CorporateConsols drilling extends Spur Gold Corridor
Reverse circulation drilling at the Consols Zone of the Spur Project (EL5238) in the East Lachlan region of New South Wales extended mineralisation 160m south and 160m north-northwest of SPRCD062. SPRC079 returned 9m @ 5.59g/t Au from 183m, including 3m @ 16.21g/t Au, and SPRC080 returned 93m @ 0.51g/t Au from 288m, including 10m @ 1.84g/t Au from 318m. At the Spur Zone, SPRCD037 returned 18m @ 1.65g/t Au from 435m and 8m @ 2.87g/t Au from 487m. Two additional rigs arrive within three weeks.
Drill resultsNotice of General Meeting and Proxy Form
A general meeting will be held at 10:30am (AEDT) on 9 October 2025 at PKF, Level 8, 1 O'Connell Street, Sydney NSW 2000, with a record date of 12pm (AEDT) on 7 October 2025. Shareholders will vote on ratification of 20,300,000 Tranche 1 Placement Shares and 30,458,100 May Placement Shares, approval to issue 31,873,914 Tranche 2 Placement Shares at $0.575 to raise $18,327,500 before costs, and the issue of 13,950,000 performance rights to four directors.
Corporate2025 Half Year Financial Statements
A loss of $5,754,659 was reported for the half year ended 30 June 2025 (30 June 2024: $5,429,115), with exploration and evaluation costs of $4,320,499 and cash of $7,542,812 at period end. Drilling at the Spur gold-copper project (EL5238, NSW) totalled 76 RC holes for 18,852m, with results including 50m @ 1.96 g/t Au from 160m and 197m @ 0.54% CuEq from 1m at Breccia West. A May placement raised $8,375,978 at $0.275, followed by $30 million commitments at $0.575 announced 13 August 2025.
CorporateBecoming a substantial holder
The Bank of Nova Scotia and its controlling entities became a substantial holder in Waratah Minerals on 20 August 2025, with a relevant interest in 17,256,936 common shares, or 6.80% of the 253,786,179 shares outstanding. The interest is held through 1832 Asset Management L.P., which acquired shares between May 13, 2025 and Aug 18, 2025 at prices from AUD 0.2750 to AUD 0.6292, including 8,664,236 shares at AUD 0.5750 on Aug 18, 2025.
CorporateApplication for quotation of securities - WTM
20,300,000 ordinary fully paid shares were issued on 21 August 2025 at A$0.575 per share under a placement previously notified to ASX in an Appendix 3B dated 13 August 2025, and have been applied for quotation. A second tranche of 31.9 million new shares to raise approximately A$18.3 million remains subject to shareholder approval. Following quotation, WTM will have 273,303,934 ordinary shares on issue.
NewsNotice Under Section 708A(5) of the Corporations Act
20,300,000 fully paid ordinary shares have been issued at $0.575 per share by Waratah Minerals Limited. The shares were issued without disclosure under Part 6D.2 of the Corporations Act, and the Company has given notice under section 708A(5)(e) confirming compliance with Chapter 2M and sections 674 and 674A, and that there is no excluded information to disclose.
CorporateApplication for quotation of securities - WTM
1,100,000 ordinary fully paid shares will be quoted on the ASX following the exercise of options expiring 19 December 2028 at $0.16, with the shares issued on 19 August 2025 for cash consideration of AUD 0.16 per security. Following quotation, quoted ordinary shares will total 253,003,934, with 27,600,000 of the $0.16 options remaining on issue.
NewsNotice Under Section 708A(5) of the Corporations Act
1,100,000 fully paid ordinary shares have been issued by Waratah Minerals Limited (ASX:WTM) on the exercise of options at an issue price of $0.16 per share. The shares were issued without disclosure under Part 6D.2 of the Corporations Act, with the Company giving notice under section 708A(5)(e) that it has complied with Chapter 2M and sections 674 and 674A and has no excluded information to disclose.
CorporateChange of Director's Interest Notice - Andrew Stewart
Director Andrew Stewart acquired 26,856 ordinary shares in Waratah Minerals Limited via an on-market purchase on 15 August 2025 at $0.735. His direct holding increased to 101,856 ordinary shares, while his indirect interest through A L Stewart Family Pty Ltd remained at 2,475,000 ordinary shares, 750,000 Class A Performance Rights and 750,000 Class B Performance Rights. The trade did not occur during a closed period.
CorporateA$30m Placement to Accelerate Drilling at the Spur Project
Firm commitments have been received to raise A$30 million before costs via a placement of approximately 52.2 million new shares at A$0.575 each, a 7.1% premium to the 5-day VWAP of A$0.537 and 16.1% premium to the 30-day VWAP of A$0.495. The placement has two tranches: about A$11.7 million (20.3 million shares) settling 20 August 2025, and about A$18.3 million (31.9 million shares) subject to shareholder approval at an EGM in late September 2025. Funds will support extensional and resource drilling, metallurgical test work and geochemistry/geophysics at the Spur Gold-Copper Project, where three rigs are on site. Bell Potter acted as Sole Lead Manager and Bookrunner.
FinancingProposed issue of securities - WTM
A placement of up to 52,173,914 ordinary shares at A$0.575 per share, with a proposed issue date of 21/8/2025. Of these, 20,300,000 shares will be issued under the company's additional 10% placement capacity under listing rule 7.1A, while shareholder approval will be sought for 31,873,914 shares, with determination estimated by 30/9/2025. Proceeds will fund extensional and resource drilling at the Spur Gold Corridor, initial metallurgical test work, target definition geochemistry and geophysics, and working capital. Bell Potter Securities Limited is lead manager, receiving 5% of placement proceeds.
FinancingApplication for quotation of securities - WTM
17,091,668 ordinary fully paid shares will be quoted on the ASX with an issue date of 13 August 2025, comprising 666,668 shares from the exercise of employee options expiring 31 January 2027 and 16,425,000 shares from the conversion of employee performance rights, each valued at an estimated $0.575 per security. Holdings include 9,000,000 performance rights converted by Peter Duerden and 2,475,000 each by Andrew Stewart and Darryl Clark. Total quoted shares will be 250,603,934.
NewsNotice Under Section 708A(5) of the Corporations Act
18,391,668 fully paid ordinary shares have been issued by Waratah Minerals Limited on exercise of options at an issue price of $0.16 per share and on conversion of performance rights at $Nil per share. The shares were issued without disclosure under Part 6D.2, and the company has given notice under section 708A(5)(e) of the Corporations Act confirming compliance with Chapter 2M and sections 674 and 674A, with no excluded information to disclose.
CorporateChange of Director's Interest Notice - Andrew Stewart
Director Andrew Stewart's interests changed on 13 August 2025, with A L Stewart Family Pty Ltd acquiring 2,475,000 ordinary shares in Waratah Minerals Limited on the exercise of performance rights for nil consideration. The exercise disposed of 825,000 performance rights at each of $0.375, $0.4375 and $0.50. Holdings after the change are 75,000 ordinary shares held directly, plus 2,475,000 ordinary shares, 750,000 Class A and 750,000 Class B performance rights held indirectly.
CorporateChange of Director's Interest Notice - Darryl Clark
Director Darryl Clark acquired 2,475,000 ordinary shares in Waratah Minerals on 13 August 2025 upon the exercise of performance rights, with 825,000 rights each at $0.375, $0.4375 and $0.50 disposed of for nil consideration. His direct holding after the change is 3,132,554 ordinary shares, 1,000,000 ZEPO options, 1,500,000 Class A performance rights and 1,500,000 Class B performance rights.
CorporateChange of Director's Interest Notice - Peter Duerden
Director Peter Duerden acquired an indirect interest in 9,666,668 ordinary shares on 13 August 2025 through Duerden Investments Pty Limited, following the exercise of 666,668 ZEPO options and 9,000,000 performance rights ($0.375, $0.4375 and $0.50 tranches) for nil consideration. A total of 4,350,000 ordinary shares were sold on-market at $0.575 per share to meet tax obligations, leaving 6,836,405 ordinary shares, 1,166,668 ZEPO options and 5,000,000 Class A and B performance rights held.
CorporateMultiple zones of high-grade gold extend Spur Gold Corridor
Extensional drilling at the Spur Gold Corridor, Spur Project (EL5238) in New South Wales returned 208.7m @ 1.17 g/t Au from 514m in SPRCD062, including 89m @ 1.96 g/t Au from 614m and 38m @ 3.61 g/t Au from 665m, with visible gold logged at multiple depths and screen fire assays pending. The result extends the corridor 500m northeast across the Essex Fault to more than 1.5km along strike. Other holes returned 27m @ 1.03 g/t Au from 165m (SPRC078), 28m @ 0.88 g/t Au from 160m (SPRC077) and 21m @ 0.73 g/t Au from 133m (SPRC076). An additional 60 drill holes are planned.
Drill resultsInvestor Presentation - Diggers and Dealers
An investor presentation dated August 2025 for the Diggers and Dealers conference sets out corporate and exploration details for the 100%-owned Spur Gold-Copper Project in the Macquarie Arc. Corporate figures include 234M shares on issue, a share price of $0.30 (1 August 2025), $70.0M market capitalisation and $7.5M cash at bank at 30 June 2025. Drill results cited include SPRCD062 with 208.7m at 1.17 g/t Au from 514m, including 38m at 3.61 g/t Au from 665m, and BZD001 with 84m at 0.62% CuEq from 29m.
CorporateQuarterly Cashflow Report - June 2025
Cash and cash equivalents stood at A$7.543 million at 30 June 2025, up from A$2.436 million at the start of the quarter. Net cash used in operating activities was A$2.772 million for the quarter, including A$2.316 million on exploration and evaluation and A$477,000 on administration and corporate costs. Financing activities provided A$7.926 million, comprising A$8.376 million from equity issues and A$114,000 from option exercises, less A$552,000 of transaction costs. Estimated funding available is 2.72 quarters.
CorporateQuarterly Activities Report - June 2025
RC and diamond drilling at the Spur Gold Corridor, Spur Project (EL5238) in New South Wales, extended gold mineralisation 100m downdip at the Spur Zone, with SPRCD050 returning 77m @ 1.31 g/t Au from 310m including 8m @ 3.19 g/t Au, SPRC064 returning 56m @ 1.63 g/t Au from 252m, and SPRC062 returning 11m @ 1.49 g/t Au from 90m north of the Essex Fault. At Breccia West, BZD002 returned 33m @ 0.18% CuEq from 546m. Waratah raised $8.4m at $0.275 per share and held A$7.5 million cash at 30 June 2025, with EL5238 renewed to 20 February 2031.
CorporateNoosa Mining Investor Conference Presentation
## Spur Gold -Copper Project ## Regional Geophysical Response <!-- image --> ## Geophysical Signature - Elevated magnetic signature - Coincident low and inverted gravity anomaly - Similar 'buried bodies' seen across district <!-- image --> <!-- image --> <!-- image --> M M ## Spur Gold -Copper Project ## District Scale Targeting <!-- image --> Passive Seismic Survey - Defining basement architecture W <!-- image --> ## Spur Gold -Copper Project ## Newmont Investing in Cadia -Spur District <!-- image --> - Newmont acquisition of Golden Cross Resources Pty Ltd, ~10km east of Waratah's Spur Project - Reported historic drill results with epithermal-porphyry association - Historic results reported
CorporateNotification regarding unquoted securities - WTM
750,000 unquoted performance rights (ASX code WTMAAG) were issued on 18 June 2025 under the employee incentive scheme to key management personnel Naomi Scott, as approved by shareholders at the 2025 AGM held on 28 May 2025. Following the issue, Waratah Minerals has 233,512,266 quoted ordinary shares and 29,575,000 performance rights on issue.
CorporateChange of Director's Interest Notice - Naomi Scott
Director Naomi Scott acquired 750,000 Class B Performance Rights on 18 June 2025, issued for nil consideration as approved by shareholders at Waratah Minerals' 2025 AGM. Following the change, her direct holdings comprise 486,933 ordinary shares, 66,667 unlisted options exercisable at $1.20 expiring 31/03/26, 66,667 unlisted options at $1.64 expiring 31/03/26, and the 750,000 Class B Performance Rights. No securities were disposed of.
CorporateDrilling Success Continues at Spur
Final assays from expansion drilling at the Spur Zone within the greater-than-1km Spur Gold Corridor at the Spur Project (EL5238) in New South Wales returned 77m @ 1.31 g/t Au from 310m in SPRCD050, 56m @ 1.63 g/t Au from 252m in SPRC064, 63m @ 0.69 g/t Au from 327m in SPRCD053, and 11m @ 1.49 g/t Au from 90m in SPRC062 northeast of the Essex fault. At Breccia West, BZD002 returned 419m @ 45 ppm Mo from 34m and 33m @ 0.18% CuEq from 546m. A total of 76 holes for 18,852m have been completed since mid-2024, with 60 further holes planned.
Drill resultsCeasing to be a Substantial Holder - Yanbulla Mining Pty Ltd
Yanbulla Mining Pty Ltd ceased to be a substantial holder in Waratah Minerals Limited on 20/05/2025, following a series of on-market share disposals between 3/03/2025 and 19/05/2025. The disposals included 1,400,000 shares for $498,502.40 on 15/05/2025 and 500,000 shares for $156,000.00 on 19/05/2025. The previous substantial holder notice was dated 06/05/2024 and given to the company on 08/05/2024.
CorporateChange in substantial holding - Farjoy Pty Ltd
Farjoy Pty Ltd's voting power in Waratah Minerals moved from 16,738,062 shares (8.86%) to 18,306,604 shares (7.84%), with the change taking effect on 20/05/25. The changes comprised a purchase of 300,000 shares for $89,116.22 on 26/09/24, a placement of 1,268,542 shares for $317,135.50 on 30/09/24, and dilution from a placement on 20/05/25. The previous notice was dated 25/09/24.
CorporateThird Rig Mobilised to Spur Gold-Copper Project
A third drill rig (second diamond rig) has been mobilised to the wholly owned Spur Gold-Copper Project (EL5238) in New South Wales, 5km west of Newmont's Cadia Valley Project. The third diamond hole, BZD003, has commenced at Breccia West, targeting a magnetic anomaly interpreted as the down-dip projection of mineralised magmatic-hydrothermal breccia. RC and diamond drilling continues to test extensions of shallow epithermal gold mineralisation along the >1km Spur Gold Corridor.
Drill resultsApplication for quotation of securities - WTM
30,458,100 ordinary fully paid shares were issued on 20 May 2025 at AUD 0.275 per security under a placement previously notified to ASX in an Appendix 3B on 12 May 2025, and have been applied for quotation. Following quotation, Waratah Minerals will have 233,512,266 quoted ordinary shares on issue, plus unquoted options and 28,825,000 performance rights. No further issues remain to complete the transaction.
NewsNotice Under Section 708A(5) of the Corporations Act
30,458,100 fully paid ordinary shares have been issued at $0.275 per share by Waratah Minerals Limited (ASX:WTM). The shares were issued without disclosure under Part 6D.2 of the Corporations Act, and the Company has given notice under section 708A(5)(e) confirming compliance with Chapter 2M and sections 674 and 674A, and that there is no excluded information to be disclosed.
Corporate$8.4m equity raising to accelerate drilling at Spur
Firm commitments have been received to raise approximately $8.4 million before costs through a placement of 30.5 million new fully paid ordinary shares at A$0.275 each, a 10% discount to the 7 May 2025 close of $0.305. Proceeds are allocated to A$5.0m extension RC drilling and A$1.5m extension diamond drilling at the Spur Gold-Copper Project in the Lachlan Fold Belt, A$1.0m diamond drilling at Breccia West, A$0.5m geochemistry and geophysics, and A$0.4m working capital and placement costs. Settlement is scheduled for 19 May 2025.
FinancingProposed issue of securities - WTM
A placement of 30,458,125 fully paid ordinary shares at AUD 0.275 per share is proposed, with an issue date of 20/5/2025, using the company's 15% placement capacity under listing rule 7.1 without security holder approval. Bell Potter Securities, Morgans Corporate and Blue Ocean Equities acted as Joint Lead Managers for a fee of 6% of placement proceeds. Funds will support exploration at the Spur Project, targeting gold-copper epithermal-porphyry mineralisation at Spur and Spur South, plus working capital.
FinancingRIU Investor Presentation - Updated
An updated RIU investor presentation for the 100%-owned Spur gold-copper project in the Macquarie Arc, Lachlan Fold Belt, NSW, reiterates results including 196m @ 0.54% CuEq, 0.35% Cu, 0.23g/t Au from 1m (including 84m @ 0.62% CuEq from 29m) at Breccia West, 89m @ 1.73g/t Au from 115m and 11m @ 10.82g/t Au from 154m. Next steps are a 600m RC/DDH test of the Breccia West porphyry core target and drilling to extend the Spur Gold Corridor to 2km. Cash was A$2.4M at 31 March 2025, with a A$47.7M market capitalisation.
CorporateChange in substantial holding
Regal Funds Management Pty Limited and its associates reduced their holding in Waratah Minerals to 11,066,965 ordinary shares, or 5.45% voting power, from 13,703,619 shares and 6.79% previously. The change in interests occurred on 7 May 2025, following a series of buys and sells between 17 October 2024 and 7 May 2025. The percentage is based on 203,054,166 shares on issue as disclosed by the company on 14 April 2025.
CorporateRIU Resources Roundup Investor Presentation
An investor presentation delivered at the Sydney Resources Round-Up on 6 May 2025 covers the 100%-owned Spur gold-copper project in the Lachlan Fold Belt, NSW, citing results including 11m @ 10.82 g/t Au from 154m (SPRC002), 89m @ 1.73 g/t Au, 0.08% Cu from 115m (SPRC007), and 196m @ 0.54% CuEq, 0.35% Cu, 0.23 g/t Au from 1m (BZD001), including 84m @ 0.62% CuEq from 29m. Next steps include a 600m RC/DDH at the Breccia West porphyry core target and drilling to extend the Spur Gold Corridor to 2km. Cash was $2.4M at 31 March 2025.
CorporatePorphyry Copper-Gold intersected at Breccia West
Maiden drilling at the Breccia West porphyry target, Spur Gold-Copper Project (EL5238), New South Wales, intersected porphyry copper-gold mineralisation, with BZD001 returning 196m @ 0.54% CuEq (0.35% Cu, 0.23g/t Au, 74.55ppm Mo) from 1m, including 84m @ 0.62% CuEq from 29m and 12m @ 1.03% CuEq from 185m, plus 135m @ 0.41% CuEq from 244m. BZD002 assays are pending, expected late May 2025. Spur RC results include SPRC050 with 74m @ 1.34g/t Au from 310m and SPRC065 with 77m @ 0.80g/t Au from 53m.
Drill resultsQuarterly Cashflow Report - March 2025
Cash and cash equivalents stood at $2.436 million at 31 March 2025, down from $4.234 million at the start of the quarter. Net cash used in operating activities was $1.757 million, including $1.493 million on exploration and evaluation and $319,000 on administration and corporate costs. Estimated quarters of funding available is 1.38; the company said drilling will continue at the Spur Project and it intends to raise additional funds as required. Payments to related parties totalled $137,000.
CorporateQuarterly Activities Report - March 2025
Step-out RC drilling at the Spur gold-copper project (EL5238) in New South Wales extended shallow epithermal gold mineralisation along a 2km corridor, with SPRC063 returning 50m @ 1.96 g/t Au from 160m including 8m @ 7.87 g/t Au from 202m, SPRC050 returning 74m @ 1.34 g/t Au from 310m to end of hole, and SPRC036 returning 251m @ 0.54 g/t Au from 0m. A total of 66 RC holes for 15,832m were completed and diamond drilling began at Breccia West. Cash at 31 March 2025 was $2.4m, with quarterly exploration expenditure of $1.6m; EL5238 was renewed to 20 February 2031.
CorporateDrilling Extends Spur Gold Corridor
Step-out RC drilling at the Spur Gold-Copper Project (EL5238) in New South Wales returned 74m @ 1.34 g/t Au from 310m to end of hole in SPRC050, including 50m @ 1.56 g/t Au from 310m and 5m @ 2.44 g/t Au from 379m, extending mineralisation 100m downdip at the Spur Zone. SPRC064 returned 30m @ 1.57 g/t Au from 252m and 24m @ 1.01 g/t Au from 68m. Diamond tails are underway; 66 RC holes for 15,832m are complete and the program has been extended by 40 holes.
Drill resultsNotice of Annual General Meeting and Proxy Form
Notice of an Annual General Meeting to be held at 10:00am (AEST) on 28 May 2025 at PKF, Level 8, 1 O'Connell Street, Sydney NSW 2000, with eligibility to vote set at 3pm (AEST) on 26 May 2025. Resolutions cover adoption of the Remuneration Report for the year ended 31 December 2024, election of Ms Naomi Scott, re-election of Dr Darryl Clark, issue of up to 750,000 Performance Rights to Ms Naomi Scott, and approval of the Listing Rule 7.1A additional 10% placement capacity.
CorporateApplication for quotation of securities - WTM
666,667 ordinary fully paid shares have been issued at AUD 0.171 each on 11 April 2025 following the exercise of options expiring 24 April 2025, and quotation on ASX has been applied for. All options of that class have now been exercised. Following quotation, Waratah Minerals will have 203,054,166 quoted ordinary shares on issue.
NewsNotice under section 708A(5)(e) of the Corporations Act 2001
666,667 fully paid ordinary shares were issued at $0.171 per share on the exercise of options. Waratah Minerals Limited gave notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) that the shares were issued without disclosure under Part 6D.2 and that it has complied with Chapter 2M and sections 674 and 674A, with no excluded information to be disclosed.
CorporateDrilling Extends High-Grade Gold Mineralisation at Spur
Drilling at the Spur Gold-Copper Project (EL5238), New South Wales, returned 50m @ 1.96 g/t Au from 160m in SPRC063, including 23m @ 3.48 g/t Au from 187m and 8m @ 7.87 g/t Au from 202m. Other holes returned 4m @ 4.62 g/t Au from 90m and 5m @ 2.50 g/t Au from 158m at Spur South, 7m @ 3.04 g/t Au from 131m at Dalcoath North, and 11m @ 1.49 g/t Au from 90m at Essex East. Diamond drilling continues at Breccia West.
Drill resultsSecond Rig Commences Drilling at Spur Gold-Copper Project
Diamond drilling has commenced at the Breccia West Prospect at the Spur Gold-Copper Project (EL5238) in central western New South Wales, with roughly 1,000m of oriented diamond core planned to test porphyry copper-gold-molybdenum mineralisation on the western margin of the main intrusive complex. Historic drilling at Breccia West returned 108m @ 0.52% Cu, 0.22g/t Au from 0m to end of hole in C-3. RC drilling continues along the >1km Dalcoath-Spur-Essex trend testing shallow epithermal gold extensions.
Drill resultsInvestor Presentation
<!-- image --> ## Central Cobar Gold - Copper Project ## Emerging Gold-Copper Fields <!-- image --> ## Central Cobar Basin W Prospective for the range of Cobar-style deposits <!-- image --> ## Strategic Land Position W Consolidated position along the Rookery Fault Zone, host to CSA Mine (>2Mt Cu, >25Moz Ag 1 ) <!-- image --> ## Drill Ready Targets W Coincident structure and geochemistry - Wagga Tank prospect - 8m @ 3.42g/t Au from 12m (RC44) - Anomalous gold in soils over 1.4km strike - Coincident magnetic anomaly + interpreted fault <!-- image --> <!-- image --> <!-- image --> W <!-- image --> ## Corporate Overview 202M Shares on Issue (ASX Code: WTM) 12.83% Board and Management (full
CorporateQuarterly Cashflow Report - December 2024
Cash and cash equivalents stood at A$4.234 million at 31 December 2024, up from A$4.007 million at the start of the quarter. Net cash used in operating activities was A$2.011 million for the quarter, including A$1.631 million on exploration and evaluation and A$417,000 on administration and corporate costs. Financing activities provided A$2.314 million, including A$2.497 million from issues of equity securities, with estimated funding available of 2.1 quarters.
CorporateQuarterly Activities Report - December 2024
RC drilling at the Spur Gold-Copper Project (EL5238) in central western New South Wales totalled 16 holes for 4,794m during the December 2024 quarter, taking the program to 11,589m. Results included 70m @ 1.00 g/t Au from 119m (SPRC028) at Dalcoath, 251m @ 0.54 g/t Au from 0m (SPRC036) at Spur-Thistle and 115m @ 0.43 g/t Au from 2m (SPRC033) at Essex. Cash was A$4.2 million at 31 December 2024, with exploration spend of $1.6m. Dr Andrew Stewart was appointed Non-Executive Chairman and Naomi Scott a Non-Executive Director.
CorporateDrilling Extends Gold Zones at Spur Project
Step-out RC drilling at the Spur Gold-Copper Project (EL5238), New South Wales, returned 251m @ 0.54 g/t Au from 0m including 83m @ 0.84 g/t Au from 168m at Thistle (SPRC036), 115m @ 0.43 g/t Au from 2m at Essex, and 75m @ 0.16 g/t Au, 0.04% Cu, 37.58ppm Mo from 118m at Dalcoath. Gold zones now extend over a >1km trend. A total of 49 RC holes for 11,589m are complete, with 7 results pending and 20 additional holes added. A second rig mobilises mid-February 2025 to drill the Breccia West porphyry target.
Drill results
202477 releases
Upcoming Release of Shares from Voluntary Escrow
15 million fully paid ordinary shares will be released from voluntary escrow on 19 December 2024, under ASX Listing Rule 3.10A. The escrow related to the acquisition of the Spur project, which completed on 19 December 2023. No securities remain escrowed following the release.
CorporateApplication for quotation of securities - WTM
250,000 ordinary fully paid shares will be quoted on the ASX following the exercise of options expiring 19-Dec-2028 at $0.08 each, with an issue date of 5 December 2024. The shares were issued for cash consideration of AUD 0.08 per security. Following quotation, Waratah Minerals will have 202,387,499 quoted ordinary shares on issue, with 7,977,000 of the $0.08 options remaining unquoted.
NewsNotice Under Section 708A(5) of the Corporations Act
250,000 fully paid ordinary shares were issued at $0.08 per share on the exercise of options. Waratah Minerals Limited issued the shares without disclosure under Part 6D.2 and gave notice under section 708A(5)(e) of the Corporations Act, confirming compliance with Chapter 2M and sections 674 and 674A, with no excluded information to disclose. The notice was authorised by Company Secretary Richard Willson.
CorporateDrilling Extends Dalcoath Gold Zone at Spur Project
Step-out RC drilling has extended gold mineralisation at the Dalcoath Zone of the Spur Project (EL5238) in the Lachlan Fold Belt, New South Wales, with SPRC028 returning 70m @ 1.00 g/t Au from 119m, including 6m @ 2.59 g/t Au from 126m, and 10m @ 1.64 g/t Au from 78m, including 1m @ 14.4 g/t Au from 80m. SPRC026 returned 104m @ 0.16 g/t Au, 0.07% Cu, 27.96ppm Mo from 189m. Forty RC holes totalling 9,238m are complete, results are pending for 10 holes, and the program has been extended by 12 holes.
Drill resultsApplication for quotation of securities - WTM
333,334 ordinary fully paid shares will be quoted on the ASX from 19 November 2024, issued on exercise of options expiring 24 April 2025 at $0.171 each, for cash consideration in Australian dollars. Following quotation, Waratah Minerals will have 202,137,499 quoted ordinary shares on issue, with 666,667 of the $0.171 options remaining unexercised.
NewsNotice under section 708A(5)(e) of the Corporations Act 2001
333,334 fully paid ordinary shares were issued at $0.171 per share on the exercise of options. Waratah Minerals Limited gave notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) that the shares were issued without disclosure under Part 6D.2, and that it has complied with Chapter 2M and sections 674 and 674A, with no excluded information to be disclosed. The notice was authorised by Company Secretary Richard Willson.
CorporateInitial Director's Interest Notice - Naomi Scott - Updated
Naomi Scott was appointed a director of Waratah Minerals Limited on 4 November 2024. She holds 486,933 ordinary shares, 66,667 unlisted options exercisable at $1.20 expiring 31/03/26, and 66,667 unlisted options exercisable at $1.64 expiring 31/03/26, all as registered holder. She has no indirect securities interests and no relevant contract interests.
CorporateInitial Director's Interest Notice - Naomi Scott
Naomi Scott was appointed a director of Waratah Minerals Limited on 4 November 2024. She holds 9,153 ordinary shares as registered holder, with no indirect securities interests and no relevant contract interests.
CorporateQuarterly Cashflow Report - September 2024
Cash and cash equivalents stood at $4.007 million at 30 September 2024, up from $2.631 million at the prior quarter end. Net cash used in operating activities was $1.289 million for the quarter, including $987,000 on exploration and evaluation and $325,000 on administration and corporate costs, while financing activities provided $2.671 million. Estimated quarters of funding available was 3.1; after quarter end the company received the balance of $2.44 million from the Tranche 2 placement.
CorporateQuarterly Activities Report - September 2024
Twelve RC drillholes totalling 3,310m were completed at the Spur gold-copper project (EL5238) in New South Wales during the September 2024 quarter, taking the program to 30 holes for 6,244m. Results included 20m @ 3.00 g/t Au from 171m (including 6m @ 7.46 g/t Au, 0.11% Cu) in SPRC022, 42m @ 1.66 g/t Au from 242m in SPRC023, and 46m @ 1.72 g/t Au, 0.08% Cu from 9m at Spur South. Cash and listed investments were $4.8m at quarter end, following a $5 million two-tranche placement.
CorporateChange in substantial holding
Regal Funds Management Pty Limited and its associates increased their holding in Waratah Minerals from 10,234,373 ordinary shares (5.42%) to 13,703,619 shares (6.79%), based on 201,804,165 shares on issue as disclosed on 02-10-2024. The change occurred on 2/10/2024 through on-market purchases between 27/09/2024 and 2/10/2024, including 2,350,309 shares for $587,577 on 2/10/2024.
CorporateAppendix 3G - Further Information
Clarification was provided regarding the Appendix 3G dated 1 October 2024 relating to the issue of 16,425,000 Performance Rights, comprising three classes of 5,475,000 rights each at $0.375, $0.4375 and $0.50, all expiring 01-10-2027. Of each class, 4,650,000 were approved by shareholders at the meeting held 27 September 2024, and 825,000 were issued under the Employee Securities Incentive Plan approved at the Annual General Meeting on 31 May 2023.
NewsApplication for quotation of securities - WTM
12,700,000 ordinary fully paid shares were issued on 2 October 2024 at AUD 0.25 per security for cash consideration, under a placement previously notified to ASX in an Appendix 3B dated 6 August 2024. No further issues remain to complete the transaction. Following quotation, Waratah Minerals will have 201,531,165 quoted ordinary shares on issue, plus unquoted options and 12,400,000 performance rights.
NewsNotice under section 708A(5)(e) of the Corporations Act 2001
12,700,000 fully paid ordinary shares were issued at $0.25 per share, along with 16,425,000 performance rights, without disclosure under Part 6D.2 of the Corporations Act. Waratah Minerals Limited gave notice under section 708A(5)(e) confirming compliance with Chapter 2M and sections 674 and 674A, and that there is no excluded information to be disclosed.
CorporateApplication for quotation of securities - WTM
273,000 ordinary fully paid shares will be quoted on the ASX from 1 October 2024, issued on exercise of options expiring 19 December 2028 at AUD 0.08 each, for cash consideration. Following quotation, Waratah Minerals will have 189,104,165 quoted ordinary shares on issue. A further 8,227,000 of the $0.08 options remain unexercised, alongside other unquoted options and 12,400,000 performance rights.
FinancingNotification regarding unquoted securities - WTM
16,425,000 unquoted performance rights were issued on 1 October 2024 in three new classes of 5,475,000 each, at $0.375, $0.4375 and $0.50, all expiring 1 October 2027. The rights were issued for non-cash consideration and were approved by shareholders at the meeting held 27 September 2024. Waratah Minerals has 188,831,165 ordinary fully paid shares quoted on ASX.
CorporateChange of Director's Interest Notice - Peter Duerden
Director Peter Duerden acquired an indirect interest in 9,000,000 performance rights on 1 October 2024, comprising 3,000,000 each at $0.375, $0.4375 and $0.50, held through Duerden Investments Pty Limited, for nil consideration. The rights were issued as approved by shareholders at the September 2024 EGM. His holdings after the change include 1,647,943 ordinary shares, 1,833,336 ZEPO options and 2,500,000 each of Class A and Class B performance rights.
CorporateChange of Director's Interest Notice - Darryl Clark
Director Darryl Clark acquired 2,475,000 performance rights on 1 October 2024, comprising 825,000 at $0.375, 825,000 at $0.4375 and 825,000 at $0.50, issued for nil consideration as approved by shareholders at the September 2024 EGM. His direct holding after the change is 657,554 ordinary shares, 1,000,000 ZEPO options, 1,500,000 Class A performance rights, 1,500,000 Class B performance rights and the new 2,475,000 performance rights.
CorporateChange of Director's Interest Notice - Andrew Stewart
Director Andrew Stewart acquired 2,475,000 performance rights on 1 October 2024 through A L Stewart Family Pty Ltd, comprising 825,000 each at exercise prices of $0.375, $0.4375 and $0.50, for nil consideration. The rights were issued as approved by shareholders at the September 2024 EGM. His holdings after the change are 75,000 ordinary shares directly, plus 750,000 Class A and 750,000 Class B performance rights and the new rights held indirectly.
CorporateBecoming a substantial holder
Regal Funds Management Pty Ltd and Regal Partners Limited became a substantial holder in Waratah Minerals on 26 September 2024, with a relevant interest in 10,234,373 ordinary shares, or 5.42% voting power. The percentage is based on 188,831,165 shares on issue as disclosed by the company on 10 September 2024. The interest was built through on-market purchases between 8 August and 26 September 2024.
CorporateInvestor Presentation
An investor presentation dated 27 September 2024 covers the Spur epithermal-porphyry gold-copper project in the East Lachlan, New South Wales, located 5 km west of the Cadia Valley Project. Drill results cited include 89m @ 1.73g/t Au, 0.08% Cu from 115m (SPRC007), 11m @ 10.82g/t Au, 0.12% Cu from 154m (SPRC002), 86m @ 1.56g/t Au, 536ppm Cu from 85m (SD010) and 17m @ 3.27g/t Au, 0.18% Cu from 32m (SPRC011). Waratah lists 189M shares, a $58M market capitalisation and $6.5M cash, with ambient noise tomography extending target margins over more than 10km of strike.
CorporateChange in substantial holding - Farjoy Pty Ltd
Farjoy Pty Ltd increased its holding in Waratah Minerals from 14,038,062 ordinary shares (7.49%) to 16,738,062 shares (8.86%), with the change taking effect on 25 September 2024. The increase came from on-market purchases of 200,000 shares for $69,070.78 on 16/09/24, 200,000 for $70,231.00 on 18/09/24, 1,400,000 for $466,714.49 on 24/09/24 and 900,000 for $266,014.96 on 25/09/24.
CorporateSpur Project Drilling Update
20m at 3.00 g/t Au from 171m, including 6m at 7.46 g/t Au and 0.11% Cu from 185m, was returned in SPRC022 at the Spur gold-copper project (EL5238) in the Lachlan Fold Belt, New South Wales. SPRC023 returned 94m at 0.71 g/t Au from 138m and 42m at 1.66 g/t Au from 242m, while SPRC021 at Essex returned 28m at 0.99 g/t Au from 153m. Thirty RC holes totalling 6,244m are complete; gravity geophysics has commenced and drilling has been extended.
Drill resultsAddendum to Notice of Meeting
An addendum has been issued to the notice of general meeting released on 27 August 2024, for the meeting to be held at 10.00am (AEST) on 27 September 2024 in Sydney. Corrections include a reference to the 6 August 2024 announcement, Tranche 1 Placement Shares issued 13 August 2024, and Performance Rights milestones of 5-day VWAPs of $0.375, $0.4375 and $0.50 per Share against the $0.25 placement price. Conversion of Performance Rights would issue 13,950,000 Shares, diluting existing holders by 7.45%. All Resolutions remain unchanged.
CorporateApplication for quotation of securities - WTM
1,000,000 ordinary fully paid shares will be quoted on the ASX following the exercise of options expiring 19 December 2028 at an exercise price of AUD 0.08, with an issue date of 10 September 2024. Following quotation, quoted ordinary shares on issue total 188,831,165, with 8,500,000 of the $0.08 options remaining unquoted.
NewsApplication for quotation of securities - WTM
Quotation is sought for 500,000 ordinary fully paid shares issued on 6 September 2024 on exercise of options expiring 19 December 2028 at an exercise price of AUD 0.08 each. The new shares rank equally with existing quoted shares. Following quotation, Waratah Minerals will have 187,831,165 ordinary shares on issue, with 9,500,000 of the $0.08 options remaining unexercised.
NewsInvestor Technical Presentation
A technical presentation released on the Spur Project in the Cargo District, East Lachlan, NSW, outlines a wallrock epithermal-porphyry gold-copper targeting strategy 5 km west of the Cadia Valley project. Previously reported drill results include 89m @ 1.73g/t Au, 0.08% Cu from 115m (SPRC007), 11m @ 10.82g/t Au, 0.12% Cu from 154m (SPRC002) and 71.9m @ 1.23g/t Au, 0.1% Cu from 21.1m (SPD003). Ambient Noise Tomography defined intrusive-porphyry target margins over more than 10km of strike to beyond 1km depth.
CorporateInvestor Presentation
An investor presentation released for the Crown Barangaroo, Sydney conference (26-28 August) covers the Spur epithermal-porphyry gold-copper project in the East Lachlan, NSW, located 5 km west of the Cadia Valley Project. Drill results cited include 89m @ 1.73g/t Au, 0.08% Cu from 115m (SPRC007), 11m @ 10.82g/t Au, 0.12% Cu from 154m (SPRC002) and 46m @ 1.72g/t Au, 0.08% Cu from 9m (SPRC011). Capital structure shows 187M shares, $0.42 share price at 23 August 2024, $78M market capitalisation and $7M cash.
CorporateNotice of General Meeting and Proxy Form
A general meeting will be held at 10:00am AEST on 27 September 2024 at Level 38, Tower Three, International Towers Sydney, 300 Barangaroo Avenue, Sydney, with a record date of 5.00pm AEST on 25 September 2024. Shareholders will vote on ratification of the May 2024 placement of 30,000,000 shares at $0.10 to raise $3,000,000, ratification of 7,300,000 Tranche 1 shares issued at $0.25 on 13 August, and approval to issue 12,700,000 Tranche 2 shares at $0.25 to raise $3,175,000. Also proposed is the issue of 13,950,000 performance rights to directors Peter Duerden, Darryl Clark and Andrew Stewart.
CorporateFY24 Half Year Financial Statements
an audit, we have not become aware of any matter that makes us believe that the Condensed Interim Financial Report of Waratah Minerals Limited does not comply with the Corporations Act 2001 , including: The Condensed Interim Financial Report comprises: - Condensed consolidated statement of financial position as at 30 June 2024 - Condensed consolidated statement of profit or loss and other comprehensive income, Condensed consolidated statement of changes in equity and Condensed consolidated statement of cash flows for the half-year ended on that date - Notes 1 to 8 comprising material accounting policies and other explanatory information - Directors' Declaration.
CorporateChange in substantial holding - Farjoy Pty Ltd
Farjoy Pty Ltd increased its holding in Waratah Minerals to 14,038,062 ordinary shares, or 7.49% voting power, from 9,106,604 shares (5.08%) in its previous notice dated 02/05/24. The change occurred on 13/08/24 through a placement of 931,458 shares for $232,834.60 and a purchase of 4,000,000 shares for $1,203,960.
CorporateCeasing to be a Substantial Holder - Lotaka
Lotaka Pty Ltd ceased to be a substantial holder in Waratah Minerals Limited on 13 August 2024. The change followed an on-market disposal of 9,632,266 ordinary shares on 13 August 2024 for consideration of $2,889,680. The previous substantial holding notice was dated and given to the company on 10 July 2024.
CorporateApplication for quotation of securities - WTM
7,300,000 ordinary fully paid shares were issued on 13 August 2024 at AUD 0.25 per security for cash consideration, under a placement previously notified to ASX in an Appendix 3B dated 6 August 2024. Following quotation, Waratah Minerals will have 187,331,165 quoted ordinary shares on issue, plus unquoted options and 12,400,000 performance rights. No further issues remain to complete the transaction.
NewsNotice under section 708A(5)(e) of the Corporations Act 2001
7,300,000 fully paid ordinary shares were issued at $0.25 per share without disclosure under Part 6D.2 of the Corporations Act. Waratah Minerals gave notice under section 708A(5)(e) that it has complied with Chapter 2M and sections 674 and 674A, and that there is no excluded information to be disclosed.
News$5m Placement to accelerate drilling at the Spur Project
Firm commitments have been received to raise $5 million before costs through a two-tranche placement of 20 million new fully paid ordinary shares at $0.25 each, a 7.4% discount to the 1 August 2024 close of $0.27. The first tranche of about $1.8 million uses existing ASX Listing Rule 7.1 and 7.1A capacity, with the roughly $3.2 million second tranche subject to shareholder approval at a 23 September 2024 meeting. Proceeds will fund RC and diamond drilling, geophysics and geochemistry at the Spur Project, and working capital.
FinancingProposed issue of securities - WTM
A proposed placement of 12,700,000 ordinary fully paid shares at AUD 0.25 per share, with an issue date of 1/10/2024, is subject to security holder approval at a meeting proposed for 23/9/2024. Morgans Corporate Limited, Foster Stockbroking Pty Limited and Bell Potter Securities Limited acted as Joint Lead Managers for a 6% fee. Proceeds will fund RC and diamond drilling, target definition geophysics and geochemistry, and general working capital.
FinancingInvestor Presentation
An investor presentation for the Spur epithermal-porphyry gold-copper project in the East Lachlan, NSW, 5km west of the Cadia Valley Project, sets out capital structure of 180M shares, a 0.29cps share price at 26 July 2024, $52M market capitalisation and $2.6M cash at 30 June 2024. Drill results cited include 11m @ 10.82g/t Au from 154m (SPRC002), 89m @ 1.73g/t Au, 0.08% Cu from 115m (SPRC007) and 17m @ 3.27g/t Au, 0.18% Cu from 32m (SPRC011). Ambient Noise Tomography defined intrusive-porphyry target zones over more than 10km of strike.
CorporateNotification of cessation of securities - WTM
1,250,000 unquoted options expiring 31 January 2027 (WTMAAC, nil exercise price) ceased on 29 July 2024 due to the lapse of a conditional right to securities because the conditions were not, or became incapable of being, satisfied. No consideration is being paid for the cessation. Following the change, issued capital comprises 179,364,498 quoted ordinary fully paid shares, 4,083,336 remaining WTMAAC options and various other unquoted options and 12,400,000 performance rights.
CorporateHigh-Grade Results & Drilling Recommences at Spur Project
Eight further RC holes at the Spur gold-copper project (EL5238), Lachlan Fold Belt, New South Wales, returned SPRC011 46m @ 1.72 g/t Au, 0.08% Cu from 9m including 17m @ 3.27 g/t Au, 0.18% Cu from 32m, and SPRC012 82m @ 0.73 g/t Au from 39m. A new zone at Dalcoath West, 400m west of Spur, gave SPRC015 98m @ 0.46 g/t Au from 52m and SPRC016 85m @ 0.49 g/t Au from 75m. Eighteen holes totalling 2934m are complete; a further 12 holes for 3000m have recommenced, with results due from late August 2024.
Drill resultsNotification of cessation of securities - WTM
1,250,000 unquoted options expiring 31-Jan-2027 (WTMAAC, exercise price nil) ceased on 27 July 2024 due to lapse of a conditional right to securities because the conditions were not, or became incapable of being, satisfied. No consideration is being paid for the cessation. Following the change, issued capital comprises 179,364,498 quoted ordinary fully paid shares plus various unquoted options and 12,400,000 performance rights, including 4,083,336 remaining WTMAAC options.
CorporateQuarterly Cashflow Report - June 2024
Cash and cash equivalents stood at A$2.631 million at 30 June 2024, up from A$459,000 at the start of the quarter, after A$3.0 million in proceeds from share issues less A$164,000 of transaction costs. Net cash used in operating activities was A$734,000 for the quarter, including A$376,000 on exploration and evaluation and A$367,000 on administration and corporate costs. Estimated quarters of funding available is 3.5, with payments to related parties of A$119,000 and A$51,000.
CorporateQuarterly Activities Report - June 2024
Maiden RC drilling at the Spur gold-copper project (EL5238) in central western New South Wales returned 11m @ 10.82g/t Au, 0.12% Cu from 154m in SPRC002, including 7m @ 16.78g/t Au, 0.18% Cu, and 89m @ 1.73g/t Au, 0.08% Cu from 115m in SPRC007, including 57m @ 2.50g/t Au, 0.11% Cu. Eighteen holes totalling 2,934m are complete, with results for eight received and drilling to resume in the last week of July. Cash and listed investments stood at $3.6m at 30 June 2024, following a $3 million placement during the quarter.
CorporateApplication for quotation of securities - WTM
An application has been made to quote 666,667 ordinary fully paid shares on the ASX, issued 26 July 2024 following the exercise of options expiring 24 April 2025 at an exercise price of AUD 0.171 each. Following quotation, Waratah Minerals will have 180,031,165 ordinary shares on issue, with 1,000,001 of the $0.171 options remaining unexercised.
NewsChange in substantial holding - Lotaka Pty Ltd
Lotaka Pty Ltd's voting power in Waratah Minerals has fallen from 7.26% to 5.37%, with its holding changing from 9,754,386 to 9,632,266 fully paid ordinary shares. The change followed dilution from share issues, the acquisition of 2,177,880 shares under a placement for $217,788 on 02/05/2024, and on-market disposals between 05/07/2024 and 10/07/2024 totalling 2,300,000 shares for $730,904. The notice was signed by sole director Timothy R B Goyder.
CorporateFurther high-grade results from Spur drilling
Results from six further RC holes at the Spur gold-copper project (EL5238), Lachlan Fold Belt, New South Wales, include SPRC007 with 89m @ 1.73g/t Au, 0.08% Cu from 115m, including 57m @ 2.50g/t Au, 0.11% Cu from 115m, 16m @ 5.59g/t Au, 0.32% Cu from 156m and 9m @ 9.33g/t Au, 0.38% Cu from 163m. Other holes returned 15m @ 1.10g/t Au from 88m (SPRC008) and 24m @ 1.66g/t Au from 49m (SPRC009). Eighteen holes totalling 2934m are complete, with drilling to recommence in early July 2024.
Drill resultsOutstanding Gold Results From Spur East
Assay results from the first two holes of an ongoing 3,000m RC drilling program at the Spur gold-copper project (EL5238) in the Lachlan Fold Belt, New South Wales include 11m @ 10.82g/t Au, 0.12% Cu from 154m in SPRC002, including 7m @ 16.78g/t Au, 0.18% Cu, plus 69m @ 0.49g/t Au from 28m. SPRC001 returned 6m @ 2.54g/t Au from 26m, including 1m @ 13.51g/t Au from 29m. Fourteen holes totalling 2,330m have been completed, with results pending; ground magnetic and gravity surveys are underway.
Drill resultsANT Geophysics Defines Additional at Targets Spur Project
An Ambient Noise Tomography survey at the Spur gold-copper project in the Lachlan Fold Belt, New South Wales, has defined multiple additional large intrusive-porphyry target zones, with the prospective epithermal-porphyry zone now extending over 5km along strike. The survey used 100 geodes spaced 315m apart covering 9km2 over 2 weeks, identifying the Consols, Spur West and Millambri intrusive-porphyry complexes plus the Spur South Fault. High-resolution ground magnetic (100m lines) and gravity (100m stations) surveys are underway, and shallow RC drilling commenced this week.
Drill resultsRC Drilling Commences at Spur Project
Reverse circulation drilling has begun at the Spur gold-copper project (EL5238) in the Lachlan Fold Belt, New South Wales, with a nominal 18 holes for approximately 3,000m targeting down-dip and along-strike extensions of shallow epithermal gold mineralisation, including historic intercepts of 17m @ 5.31g/t Au from 50m, 8m @ 6.90g/t Au from 12m and 44m @ 1.06g/t Au from 153m. Assay results are expected from early July 2024. High-resolution ground magnetic (100m line spacing) and gravity (100m station spacing) surveying starts later this week.
Drill resultsChange in substantial holding - Yanbulla
Yanbulla Mining Pty Ltd's voting power in Waratah Minerals Limited fell from 11.168% to 8.36% following a change on 02/05/2024. The holding remains 15,000,000 fully paid ordinary shares, with the reduction caused by dilution from shares issued by Waratah Minerals. The previous substantial holder notice was given on 19/12/2023.
CorporateNotice of initial substantial holder - Farjoy
Farjoy Pty Ltd became a substantial holder in Waratah Minerals Limited on 02/05/2024, holding 9,106,604 fully paid ordinary shares, or 5.08% voting power. The interest followed the acquisition of 3,500,000 ordinary shares on 02/05/2024 at $0.10 per share.
CorporateApplication for quotation of securities - WTM
30,000,000 ordinary fully paid shares were issued on 2 May 2024 at AUD 0.10 per security for cash consideration, under a placement previously notified to ASX in an Appendix 3B dated 24 April 2024. Quotation of these shares brings total quoted ordinary securities to 179,364,498. No further issues remain to complete the transaction.
NewsNotice under section 708A(5)(e) of the Corporations Act 2001
30,000,000 fully paid ordinary shares have been issued at $0.10 per share, without disclosure under Part 6D.2 of the Corporations Act. The company gave notice under section 708A(5)(e) confirming compliance with Chapter 2M and sections 674 and 674A, and that there is no excluded information to be disclosed.
CorporateChange of Director's Interest Notice - Darryl Clark
Director Darryl Clark acquired 100,000 ordinary shares in Waratah Minerals Limited via an on-market purchase on 24 April 2024 at $0.125 per share. His direct holding increased from 557,554 to 657,554 ordinary shares, alongside 1,000,000 ZEPO options, 1,500,000 Class A performance rights and 1,500,000 Class B performance rights.
CorporateChange of Director's Interest Notice - Andrew Stewart
Director Andrew Stewart acquired 75,000 ordinary shares in Waratah Minerals Limited via an on-market purchase on 24 April 2024 at $0.135. Following the change, Mr Stewart holds 75,000 ordinary shares directly, with A L Stewart Family Pty Ltd continuing to hold 750,000 Class A Performance Rights and 750,000 Class B Performance Rights.
CorporateANT Geophysical Survey Commences at Spur Project
An Ambient Noise Tomography geophysical survey has begun at the Spur Project (EL5238) in the Lachlan Fold Belt, New South Wales, using Fleet Space Technologies' Exosphere technology under a Research and Development arrangement at no cost to Waratah. The survey aims to define epithermal-porphyry targets, porphyry intrusions and alteration zones at the Spur and Spur South Prospects. RC drilling beneath and adjacent to shallow gold mineralisation, including 8m @ 6.9g/t Au (JG91) and 22m @ 1.92g/t Au (SPD001), will start in early May 2024.
Drill resultsQuarterly Cashflow Report - March 2024
Cash and cash equivalents stood at $459,000 at 31 March 2024, down from $1,288,000 at the start of the quarter, after net cash used in operating activities of $849,000, including $570,000 on exploration and evaluation and $235,000 on administration and corporate costs. Estimated quarters of funding available was 0.54. The company noted binding commitments announced on 24 April 2024 to raise $3m before costs via a share placement, plus 6,546,556 unescrowed Tirupati Graphite plc shares. Payments to related parties totalled $119,000.
CorporateQuarterly Activities Report - March 2024
Maiden drilling at the 100%-owned Spur gold-copper project (EL5238) in New South Wales, 5km west of Newmont's Cadia Valley, returned 22m @ 1.92g/t Au from 11m (including 5m @ 6.69g/t Au from 24m) in skarn at Spur East, 71.9m @ 1.23g/t Au, 0.1% Cu from 21.1m in SPD003, and 10m @ 2.40g/t Au from 354m at Spur South. Three diamond holes totalling 1100m were completed, with an expanded RC program due to start in early May 2024. Quarter-end cash and listed investments were $1.2m, rising to $4m after a $3 million placement.
Corporate$3m Placement to Accelerate Activity at the Spur Project
Firm commitments have been received to raise $3 million (before costs) through a placement of approximately 30 million shares at $0.10 each, a 4.8% discount to the $0.105 close on 19 April 2024. Funds will go to RC extensional and exploration drilling, core drilling and target definition geophysics at the Spur Gold-Copper Project, plus working capital. Settlement is expected on 1 May 2024, with Morgans, Foster Stockbroking and Bell Potter as joint lead managers. Geophysics and drilling start late April 2024.
FinancingProposed issue of securities - WTM
A placement of 30,000,000 fully paid ordinary shares at AUD 0.10 per share is proposed, with an issue date of 2 May 2024. The shares will be issued without security holder approval, using 15,063,550 under the 15% capacity in listing rule 7.1 and 14,936,450 under the additional 10% capacity in rule 7.1A. Proceeds will advance the Spur Project and general working capital, with a 6% fee payable to lead managers Morgans Corporate, Foster Stockbroking and Bell Potter Securities.
FinancingReplacement Constitution
A replacement constitution for Waratah Minerals Limited (ACN 152 071 095), adopted under the Corporations Act 2001, has been lodged. The document sets out provisions covering share capital and variation of rights, minimum securities holdings, liens, calls and forfeiture of shares, share transfers and transmission, general meetings and voting procedures, directors' powers and proceedings, accounts and audit, dividends and reserves, capitalisation of profits, bonus share and dividend reinvestment plans, and notices.
CorporateAGM Results of Meeting
All six resolutions put to shareholders at the Annual General Meeting held on Tuesday, 16 April 2024 were passed on a poll. These covered adoption of the remuneration report, the election of Andrew Stewart as a director, ratification of the December 2023 placement and the prior issue of SPP shortfall shares under Listing Rule 7.1, replacement of the constitution, and approval of the 7.1A mandate.
CorporateHigh Grade Epithermal Gold & Porphyry Skarn at Spur Project
Assays from the first 1,100m of the maiden 2,200m drilling program at the Spur gold-copper project (EL5238) in the Lachlan Fold Belt, New South Wales, 5km west of Newmont's Cadia Valley Project, returned 22m @ 1.92g/t Au from 11m (including 5m @ 6.69g/t Au) in skarn at Spur East, 44m @ 1.06g/t Au from 153m in SPD002, and 71.9m @ 1.23g/t Au, 0.1% Cu from 21.1m plus 10m @ 2.40g/t Au from 354m at Spur South in SPD003. Three diamond holes are complete and RC drilling is planned to start in late April 2024.
Drill resultsNotice of Annual General Meeting and Proxy Form
Waratah Minerals will hold its annual general meeting at 10:00am AEST on 16 April 2024 at KPMG Barangaroo, Sydney, with an entitlement date of 14 April 2024. Resolutions cover adoption of the remuneration report, election of Andrew Stewart as a director, ratification of 14,760,000 shares issued at A$0.038 on 8 December 2023 to raise $560,880, ratification of 587,722 SPP shortfall shares issued at $0.0038 on 2 June 2023, replacement of the constitution, and approval of the Listing Rule 7.1A 10% mandate.
CorporateCorporate Governance Statement & Appendix 4G
Waratah Minerals lodged its Appendix 4G and Corporate Governance Statement for the financial year ended 31 December 2023, current as at 13 March 2024 and approved by the Board. The statement, available on the Company's website, reflects the 4th Edition of the ASX Corporate Governance Council Principles and Recommendations and identifies recommendations not followed in full, including those on gender diversity objectives, anti-bribery and corruption policy, audit committee composition and annual risk management framework review.
CorporateInvestor Presentation
An investor presentation covering Waratah Minerals' Spur gold-copper project in the East Lachlan, NSW, located 5km west of the Cadia Valley Project, where an approximately 2,000m core and RC drilling program is underway targeting epithermal-porphyry mineralisation down-dip of historic intercepts including 86m @ 1.56g/t Au, 536ppm Cu from 85m in SD010. Initial drill results are expected mid-late March 2024. The presentation also covers the Stawell gold project (118.9m @ 0.1g/t Au, 11.8ppm Mo from 17.1m) and Azura copper-nickel-gold project. Capital structure at 1 March 2024: 149M shares, 7.1cps, $10.5M market capitalisation, $1.3M cash at 31 December 2023.
CorporateNotification regarding unquoted securities - WTM
500,000 unquoted employee performance rights (ASX code WTMAAG) were issued on 14 February 2024 for non-cash consideration, without security holder approval under the Listing Rule 7.2 exception 13. Following the issue, Waratah Minerals has 149,364,498 quoted ordinary fully paid shares and 12,400,000 performance rights on issue.
NewsChange of Director's Interest Notice - Peter Duerden
Director Peter Duerden acquired an indirect interest in 2,500,000 Class A Performance Rights and 2,500,000 Class B Performance Rights in Waratah Minerals on 24 January 2024, held through Duerden Investments Pty Limited, for nil consideration. The rights were issued as approved by shareholders at the November 2023 EGM. His related holdings also include 1,647,943 ordinary shares and 1,833,336 ZEPO options; no securities were disposed.
CorporateChange of Director's Interest Notice - Andrew Stewart
Director Andrew Stewart acquired an indirect interest in 750,000 Class A Performance Rights and 750,000 Class B Performance Rights in Waratah Minerals Limited on 24 January 2024, held through A L Stewart Family Pty Ltd. The rights were issued for nil consideration, as approved by shareholders at the November 2023 EGM. Stewart held no securities of these classes prior to the change.
CorporateChange of Director's Interest Notice - Darryl Clark
Director Darryl Clark acquired 1,500,000 Class A Performance Rights and 1,500,000 Class B Performance Rights in Waratah Minerals Limited on 24 January 2024, for nil consideration, under an issue approved by shareholders at the November 2023 EGM. His direct holding after the change is 557,554 ordinary shares, 1,000,000 ZEPO options, 1,500,000 Class A Performance Rights and 1,500,000 Class B Performance Rights.
CorporateNotification regarding unquoted securities - WTM
A total of 11,900,000 unquoted performance rights were issued on 25 January 2024, comprising 5,950,000 Class A Performance Rights and 5,950,000 Class B Performance Rights, both in new classes with codes to be confirmed. The rights were issued for non-cash consideration following shareholder approval at the meeting held on 15 December 2023. Waratah Minerals has 149,364,498 quoted ordinary fully paid shares on issue.
NewsQuarterly Activities Report - December 2023
Acquisition of 100% of the Spur gold-copper project (EL5238) in the East Lachlan, New South Wales, via Deep Ore Discovery Pty Ltd was finalised during the December 2023 quarter; historical drilling at Spur returned 86m @ 1.56g/t Au, 536ppm Cu from 85m (SD010), and a maiden 2,200m diamond and RC programme began after quarter end. Diamond drilling at the Frankfurt Prospect, Stawell, Victoria returned 118.9m @ 0.1g/t Au, 11.8ppm Mo from 17.1m. The company changed its name to Waratah Minerals and held $1.3m cash, or $3.1m including listed investments, at 31 December 2023.
CorporateQuarterly Cashflow Report - December 2023
Cash and cash equivalents stood at $1,288,000 at 31 December 2023, up from $738,000 the prior quarter, with net operating cash outflows of $758,000 for the quarter, including $339,000 on exploration and evaluation and $427,000 on administration and corporate costs. Financing activities provided $561,000 from equity issues, and the company disposed of 3,050,000 Tirupati Graphite plc shares for net proceeds of $869K. Estimated funding available is 1.69 quarters.
CorporateDrilling Commences at Spur Project
A maiden 2,200m diamond and RC drilling programme has begun at the Spur gold-copper project (EL5238) in the Lachlan Fold Belt, New South Wales, 5km west of Newmont's Cadia Valley Project. The 12 planned holes target down-dip and down-plunge extensions of shallow historic intercepts including 86m @ 1.56g/t Au, 536ppm Cu from 85m in SD010. First assay results are expected in March 2024. Relogging of historic core indicates intermediate-sulphidation epithermal sulphide stringer mineralisation with proximal porphyry alteration.
Drill resultsChange of Company Name and ASX Code
Battery Minerals Limited has changed its name to Waratah Minerals Limited, following shareholder approval at the General Meeting held on 15 December 2023 and registration of the change by the Australian Securities and Investment Commission. The effective date for the ASX name and code change is 5 January 2024, with trading expected to commence under the code WTM on that date. Drilling at the recently acquired Spur Project in the East Lachlan is planned to start later this month.
Corporate
202380 releases
Receipt of consideration shares in Tirupati Graphite
The final tranche of 6,556,554 consideration shares in Tirupati Graphite plc (LSE:TGR) has been received from the sale of the company's Mozambican graphite projects. The holding makes Battery Minerals Limited (ASX: BAT) a major shareholder in TGR, which has 30,000 tpa of installed graphite capacity producing flake graphite concentrate with up to 97% purity. Material terms of the sale were detailed in the company's 3 April 2023 ASX announcement.
NewsApplication for quotation of securities - BAT
15,000,000 ordinary fully paid shares were issued on 19 December 2023 and applied for quotation on ASX. The shares were issued as non-cash consideration for the acquisition of the Spur Project, as announced on 17 October 2023, with an estimated consideration value of A$600,000. Following quotation, Battery Minerals Limited will have 149,364,498 quoted ordinary shares on issue, plus various unquoted options.
NewsNotification regarding unquoted securities - BAT
40,000,000 unlisted options were issued on 19/12/2023 as consideration for the acquisition of the Spur Project, comprising 10,000,000 options exercisable at A$0.08 and 30,000,000 at A$0.16, both expiring 12-12-2028. The acquisition was announced 17-10-2023 and approved by shareholders at the General Meeting held 15-12-2023. Following the issue, Battery Minerals Limited (ASX: BAT) has 134,364,498 quoted ordinary shares on issue.
NewsCompletion of Spur Acquisition
Battery Minerals Limited has completed the acquisition of 100% of the issued share capital of Deep Ore Discovery Pty Ltd, holder of EL5238 comprising the advanced Spur Project in the Lachlan Fold Belt, New South Wales. A 2,000m diamond and RC drilling program is scheduled for the Spur target, expected to commence in January 2024. The Company is implementing a change of name to Waratah Minerals Limited following shareholder approval.
AcquisitionNotice under section 708A(5)(e) of the Corporations Act 2001
15,000,000 fully paid ordinary shares were issued at a deemed issue price of $0.04 per share to Yanbulla Mining Pty Ltd. The shares were issued without disclosure under Part 6D.2 of the Corporations Act, and the company gave notice under section 708A(5)(e) confirming compliance with Chapter 2M and sections 674 and 674A, with no excluded information to be disclosed. The notice was issued by Battery Minerals Limited on 19 December 2023.
CorporateNotice of initial substantial holder - Yanbulla
Yanbulla Mining Pty Ltd became a substantial holder in Battery Minerals Limited on 19 December 2023, holding 15,000,000 fully paid ordinary shares for voting power of 11.16%. The shares were acquired for non-cash consideration, issued as consideration for Battery Minerals Limited acquiring 100% of the issued capital of Deep Ore Discovery Pty Ltd held by Yanbulla Mining Pty Ltd.
CorporateNotice of initial substantial holder - BAT
A Form 603 initial substantial holder notice discloses that Battery Minerals Limited became a substantial holder in itself on 19 December 2023, with a relevant interest in 15,000,000 fully paid ordinary shares representing 11.16% voting power. The interest arises under a voluntary escrow deed over shares issued to Yanbulla Mining Pty Ltd as non-cash consideration for Battery Minerals acquiring 100% of the issued capital of Deep Ore Discovery Pty Ltd. The shares are escrowed for 12 months from settlement.
CorporateResponse to Price Query
Battery Minerals Limited responded to an ASX price query regarding the rise in its share price from a low of $0.038 on 11 December 2023 to an intraday high of $0.14 on 14 December 2023 and the increased trading volume from 12 to 14 December 2023. The company said it is not aware of any undisclosed information, pointing to its 8 December placement at a premium to strategic resources investors and subsequent substantial shareholder notices lodged on 11 and 12 December. It confirmed compliance with Listing Rule 3.1.
NewsChange in Substantial Holding - Gladstone Mining
A Form 604 change of substantial holding notice shows Gladstone Mining (WA) Pty Ltd increased its voting power in Battery Minerals Limited from 5.83% to 9.89%, holding 13,286,316 ordinary fully paid shares as at 08/12/2023. The change followed a 30:1 capital consolidation on 14/06/2023 and the acquisition of 6,760,000 shares under a share placement on 08/12/2023 at $0.038 per share. The notice was signed by director Stuart Tonkin on 11 December 2023.
CorporateNotice of initial substantial holder - Lotaka
Lotaka Pty Ltd became a substantial holder in Battery Minerals Limited on 8 December 2023, holding 9,754,386 fully paid ordinary shares for voting power of 7.26%. The holding comprises 1,754,386 shares acquired on 24/04/2023 for $199,999.99 cash (adjusted for the 20/06/2023 consolidation) and 8,000,000 shares acquired on 08/12/2023 for $304,000.00 cash. The notice was signed by director Timothy R B Goyder.
CorporateNotice under Section 708A(5) of the Corporations Act
14,760,000 ordinary shares were issued on 8 December 2023 by Battery Minerals Limited (ASX:BAT) without disclosure to investors under Part 6D.2 of the Corporations Act. The notice under Section 708A(5)(e)(i) confirms the Company has complied with Chapter 2M and section 674 of the Act, and that there is no excluded information to be disclosed. The release was authorised by Company Secretary Richard Willson.
CorporatePlacement at a Premium to Strategic Resource Investors
A private placement to two strategic investors has raised $560,880 through the issue of 14.76 million fully paid ordinary shares at A$0.038 each, an 8.5% premium to the 7 December 2023 close of $0.035. Proceeds will fund 2,000m of RC and diamond drilling at the Spur Project in Q1 2024, testing down dip/plunge from intercepts including 86m @ 1.56 g/t Au, 536ppm Cu, plus working capital. Shares were issued under existing ASX Listing Rule 7.1 capacity.
FinancingApplication for quotation of securities - BAT
Battery Minerals Limited (ASX: BAT) has applied for quotation of 14,760,000 ordinary fully paid shares issued on 8 December 2023 at AUD 0.038 per security under a share placement, with proceeds for additional working capital. The shares were issued without security holder approval using the company's 15% placement capacity under Listing Rule 7.1. Following quotation, BAT will have 134,364,498 quoted ordinary shares on issue.
NewsReprocessed geophysics upgrades Spur gold target
Reprocessed 2002 Fugro induced polarisation data, including modern 3D inversions, has defined a strongly resistive, southerly plunging anomaly beneath existing mineralisation at the Spur and Spur South prospects, where earlier drilling returned 86m @ 1.56g/t Au, 536ppm Cu in SD010. A 2,000m diamond and RC drilling program at Spur is expected to start in January 2024, subject to completion of the Acquisition. At the Stawell Project in Victoria, Frankfurt returned 118.9m @ 0.1g/t Au, 11.8ppm Mo from 17.1m, including 16.1m @ 0.34g/t Au from 108.4m, with screen-fire re-assays showing an average 220% gold grade increase in the coarse fraction.
Drill resultsAddendum to Notice of Meeting
Two clarifications have been issued to the notice of general meeting and proxy form released to shareholders on 14 November 2023. The correct number of Tranche 1 Options for which approval is sought under Resolution 6 is 10,000,000, and the correct number of Tranche 2 Options under Resolution 7 is 30,000,000. No further changes were made to the Notice.
CorporateNotice of General Meeting and Proxy Form
A general meeting is called for 10:00am AEDT on 15 December 2023 in Sydney, with resolutions including a special resolution to change the company name from Battery Minerals Limited to Waratah Minerals Limited and its ASX ticker to WM1. Shareholders will also vote on issuing 9,500,000 performance rights to directors Peter Duerden (5,000,000), Darryl Clark (3,000,000) and Andrew Stewart (1,500,000). Further resolutions cover issuing 15,000,000 consideration shares at a deemed $0.04, plus Tranche 1 and Tranche 2 options to Yanbulla Mining for the Spur Project acquisition.
CorporateInvestor Presentation
An investor presentation covers the pending acquisition of the Spur Project (EL5238), 14km west of Cadia Valley Operations in the East Lachlan, Molong Belt, NSW, where historic intercepts include 86m @ 1.56g/t Au from 85m (SD010), 67m @ 1.15g/t Au from 0m and 17m @ 5.31g/t Au from 50m; a ~2,000m diamond and RC program is planned down-dip. Other assets include the Stavely-Stawell IRG targets, the Azura copper-nickel project, and an $3.7m holding in Tirupati Graphite (LSE:TGR). Shareholders will vote on the Spur acquisition and a name change to Waratah Minerals (ASX:WM1).
CorporateQuarterly Cashflow Report - September 2023
Cash and cash equivalents stood at $738,000 at 30 September 2023, down from $1,666,000 at the prior quarter end, after net operating outflows of $1,293,000 for the quarter, including $974,000 on exploration and evaluation and $329,000 on administration and corporate costs. Estimated quarters of funding available is 0.57. During the quarter 850,000 Tirupati Graphite plc shares were sold for net proceeds of $411K, with a further 3,050,000 shares sold after quarter end for $869K.
CorporateQuarterly Activities Report - September 2023
Eight diamond holes for 2,138m were completed during the September 2023 quarter at the Stavely-Stawell project in Victoria, testing intrusion-related gold targets at Coxs Find, Coxs Find North, Frankfurt and Cosmopolitan; results included 106.3m @ 0.1g/t Au from 161.1m at Frankfurt and 1m @ 4.5g/t Au from 115.2m at Coxs Find North. Cash at 30 September 2023 was $0.74m, with cash and listed investments of $4.8m after quarter end. Board changes were made, a binding agreement was signed to acquire the Spur Project in the Lachlan Fold Belt, NSW, and a name change to Waratah Minerals Limited is proposed.
CorporateAcquisition of Advanced Gold Project in East Lachlan
Battery Minerals has entered a binding agreement to acquire 100% of Deep Ore Discovery Pty Ltd, holder of EL5238 comprising the Spur Project in the Lachlan Fold Belt, central western New South Wales, 14km west of Newcrest's Cadia Valley Operations. Consideration is 15,000,000 shares at a deemed $0.04, 10,000,000 options at $0.08 and 30,000,000 options at $0.16, plus a 2.5% net smelter royalty. Historic intercepts include 86m at 1.56g/t Au from 85m (SD010). Drilling is expected to start in December 2023, and the company proposes changing its name to Waratah Minerals Limited. Cash is $1.2m.
AcquisitionProposed issue of securities - BAT
Battery Minerals Limited (ASX:BAT) proposes to issue 15,000,000 fully paid ordinary shares, valued at an estimated A$600,000, plus 10,000,000 unlisted options exercisable at $0.08 and 30,000,000 unlisted options exercisable at $0.16, both expiring 12 December 2028, as consideration for the acquisition of the Spur Project announced 17 October 2023. The issue is subject to security holder approval at a meeting proposed for 6 December 2023, with a proposed issue date of 12 December 2023. The shares will be subject to twelve months voluntary escrow from completion.
FinancingFY23 Half Year Financial Statements
_thinkingSummarize half-year results for Battery Minerals (now Waratah Minerals).A net loss of $2,216,976 was reported for the six months to 30 June 2023, versus a restated $3,149,417 a year earlier, with cash of $1,666,069 at period end. The sale of the Mozambique graphite assets (Suni Resources SA) to Tirupati Graphite plc completed on 3 April 2023 for $500,000 cash plus 12,065,500 Tirupati shares. A placement and Share Purchase Plan at $0.0038 raised about $2M, and issued capital was consolidated 1 for 30.
CorporateInitial Directors Interest Notice - Andrew Stewart
Andrew Stewart was appointed a director on 4 September 2023. The Appendix 3X initial director's interest notice, lodged under the entity name Battery Minerals Limited (ABN 152 071 095), records nil securities held as registered holder, nil relevant interests in securities not registered in his name, and no interests in contracts.
CorporateFinal Directors Interest Notice - David Flanagan
David Flanagan ceased to be a director of Battery Minerals Limited on 4 September 2023, with the previous notice dated 1 August 2023. He held no securities as registered holder. Indirect interests at cessation comprised 361,455 ordinary shares held via a superannuation fund and 933,334 ordinary shares plus 1,500,000 unlisted options held as trustee for the Flanagan Family Trust. No interests in contracts were disclosed.
CorporateFinal Directors Interest Notice - Jeff Dowling
Jeff Dowling ceased to be a director of Battery Minerals Limited on 4 September 2023, with the date of his last notice being 1 August 2023. On cessation he held no securities as registered holder, and indirect interests of 608,963 ordinary shares through the Dowling Superannuation Fund, 250,001 ordinary shares personally, and 109,650 ordinary shares plus 1,000,000 unlisted options through Starwood Holdings Pty Ltd as trustee for the JP Dowling Family Trust. He held no interests in contracts.
CorporateInvestor Presentation
An investor presentation dated 30 August 2023 outlines the Stavely-Stawell project in western Victoria, where drilling has confirmed intrusion-related gold and a wide alteration zone at Coxs Find, 15km from the Stawell Gold Mine, with results including 106.3m @ 0.1g/t Au and 5m @ 0.7g/t Au at Frankfurt and 1m @ 4.5g/t Au at Coxs Find; assays at Frankfurt and Cosmopolitan are pending. Phase 2 plans ~1,000m of diamond drilling at Coxs Find and Frankfurt. The presentation also covers the Azura copper-nickel project, with environmental surveys ahead of drilling in early 2024, and a listed holding in Tirupati Graphite (LSE:TGR) valued at $5.5m.
CorporateDrilling confirms potential for significant IRG-style gold
Initial results from a maiden diamond drilling program in the White Rabbit District of the Stavely-Stawell Gold-Copper Project, western Victoria, comprised 8 holes for 2138m and confirmed intrusion-related gold mineralisation. Intercepts included 1m @ 4.5g/t Au from 115.2m and 0.7m @ 2.6g/t Au from 199.2m at Coxs Find North, and 5m @ 0.7g/t Au from 110m plus 106.3m @ 0.1g/t Au from 161.1m at Frankfurt. Screen fire re-assaying returned 10.9g/t Au from the coarse fraction of a 0.4m @ 1.3g/t Au intercept. Remaining assays are expected from early September 2023.
Drill resultsExpiry of Listed Options
A total of 9,149,595 listed options (BATO), exercisable at $3.00 and expiring 31 July 2023, have lapsed unexercised. Battery Minerals Limited now has 119,604,498 fully paid ordinary shares on issue, along with various unquoted options detailed in the updated capital structure.
CorporateChange of Directors Interest Notice
A change of director's interest notice for Battery Minerals Limited reports that 18,334 listed options held indirectly by director Jeff Dowling, exercisable at $3.00 and expiring 31 July 2023 (ASX code: BATO), lapsed on 31 July 2023. Following the change, Dowling's indirect holdings comprise 608,963 ordinary shares, 250,001 ordinary shares, and 109,650 ordinary shares plus 1,000,000 Zepo Options across three entities. The date of his last notice was 18 July 2023.
CorporateQuarterly Cashflow Report
Cash and cash equivalents stood at $1,666,000 at 30 June 2023, up from $676,000 at the start of the quarter, after net operating outflows of $856,000 (including $328,000 on exploration and evaluation and $535,000 on administration and corporate costs) and $1,991,000 net cash from financing, including $2,124,000 from equity issues. Estimated quarters of funding available is 1.95; payments to related parties totalled $153,000. The company also holds 5,518,944 Tirupati Graphite plc shares valued at $3.52m.
CorporateQuarterly Activities Report
Exploration commenced in the White Rabbit District of the Stavely-Stawell Project, Victoria, with 19.4-line kilometres of IP geophysics, 61 aircore holes for 2,771m and diamond drilling underway; diamond drilling at Coxs Find North intersected visible gold and sheeted quartz-sulphide veins, with assays pending. Aircore results at Frankfurt included 27m @ 0.62g/t Au and 8m @ 0.79g/t Au, both to end of hole. The sale of the Montepuez and Balama graphite projects to Tirupati Graphite completed for $500k cash and 12,065,500 TGR shares. Cash at 30 June 2023 was $1.67m.
CorporateApplication for quotation of securities - BAT
Battery Minerals Limited has applied for quotation of 333,334 ordinary fully paid shares (ASX: BAT) issued on 19 July 2023 on the exercise of zero-priced options granted under an employee incentive scheme, with nil cash consideration. All options of that class (BATAY) have now been exercised, leaving none on issue. Following quotation, the company will have 119,604,498 ordinary shares on issue, plus 9,149,595 quoted options expiring 31 July 2023.
NewsApplication for quotation of securities - BAT
Battery Minerals Limited has applied for quotation of 516,668 ordinary fully paid shares (ASX: BAT), issued 18 July 2023 on the exercise of zero-priced options granted under an employee incentive scheme, for nil consideration. The options were exercised by key management personnel David Flanagan (266,667, as trustee for the Flanagan Family Trust) and Jeffrey Dowling (250,001). Following quotation, BAT will have 119,271,164 ordinary fully paid securities on issue.
NewsChange of Directors Interest Notice
A change of director's interest notice for Battery Minerals Limited reports that director David Flanagan converted 266,667 vested zero-priced options into 266,667 fully paid ordinary shares on 18 July 2023, with nil consideration. The interest is held indirectly as trustee for the Flanagan Family Trust, which now holds 933,334 ordinary shares and 1,500,000 unlisted Zepo Options. A separate superannuation fund holding of 361,455 ordinary shares and 47,500 options ($3.00, 31 July 2023) was unchanged.
CorporateNotification of cessation of securities - BAT
109,169 unquoted options under code BATAY (options expiring various dates at various exercise prices) ceased on 16 July 2023 following expiry without exercise or conversion, with no consideration paid. Following the cessation, Battery Minerals Limited has 118,754,496 ordinary fully paid shares and 9,149,595 quoted options expiring 31 July 2023 on issue, plus several classes of unquoted options including 849,997 remaining BATAY options.
CorporateLapse of Unlisted Options
106,669 unlisted options exercisable at $6.00 and 2,500 unlisted options exercisable at $4.50, both expiring 16 July 2023, have lapsed vested and unexercised. Battery Minerals Limited (ASX: BAT) also provided a listing of the unlisted options remaining on issue, including 1,666,668 JLM options at $0.171 expiring 26 April 2025 and various ZEPO and ESOP options.
CorporateAircore Defines Wide Gold Zones in White Rabbit District
Shallow aircore drilling at the Frankfurt Prospect in the White Rabbit District of the Stavely-Stawell Gold-Copper Project, Victoria, returned 61 holes for 2,771 metres, defining an open target zone more than 160m wide with intercepts including 27m @ 0.62g/t Au from 15m to end of hole (23BATAC022), 24m @ 0.21g/t Au from 12m and 17m @ 0.32g/t Au from 9m. Two diamond rigs are testing Intrusion-Related Gold targets, with diamond drilling and IP geophysics results expected from mid-July 2023.
Drill resultsApplication for quotation of securities - BAT
Battery Minerals Limited has applied for quotation of 133,334 ordinary fully paid shares (BAT), issued 4/7/2023 on the exercise of zero-priced options held under an employee incentive scheme, with nil cash consideration and none held by key management personnel. Following quotation, quoted securities will comprise 118,754,496 BAT ordinary shares and 9,149,595 BATO options expiring 31 July 2023, alongside several classes of unquoted options.
NewsCompletion of Unmarketable Share Sale Facility
The Unmarketable Parcel Sale Facility announced on 14 April 2023 has been completed, with 2,537,385 post-Consolidation Shares (76,121,550 pre-Consolidation) sold on behalf of 1,843 shareholders. Participating shareholders will receive $0.0989 per post-Consolidation Share ($0.0033 pre-Consolidation), the average sale price, with no brokerage or other costs, payable on or shortly after Monday, 10 July 2023. A further 299 shareholders holding 419,834 post-Consolidation Shares elected to retain their shares.
FinancingExpiry of Unlisted Options
200,000 unlisted options exercisable at $3.90 and expiring 30 June 2023 (BATAY) have lapsed on their terms, vested and unexercised. Battery Minerals Limited (ASX: BAT) attached a listing of the unquoted securities still on issue, including JLM options, ZEPO options and ESOP options with expiries ranging from 16 July 2023 to 28 February 2028.
CorporateNotification of cessation of securities - BAT
200,000 unquoted options (ASX code BATAY, expiring various dates at various exercise prices) ceased on 30 June 2023 due to expiry without exercise or conversion, with no consideration paid. Following the cessation, Battery Minerals Limited's issued capital comprises 118,621,162 ordinary fully paid shares, 9,149,595 quoted options expiring 31 July 2023, and several classes of unquoted options including 1,092,500 remaining BATAY options.
CorporateChange of Directors Interest Notice
150,000 unlisted sign-on options exercisable at $3.90 held indirectly by director Jeff Dowling lapsed vested but unexercised on 30 June 2023, per an Appendix 3Y filed by Battery Minerals Limited. His remaining indirect holdings comprise 608,963 ordinary shares and 18,334 options ($3.00, expiring 31 July 2023, ASX code BATO), 250,001 Zepo options, plus 109,650 ordinary shares and 1,000,000 Zepo options. The interests were not traded during a closed period.
CorporateInvestor Presentation
A technical presentation on the Stavely-Stawell project in western Victoria outlines four priority gold prospects in the White Rabbit district, 15km from the Stawell Gold Mine, including Coxs Find rock chips of 430 g/t Au and 174.5 g/t Au and Frankfurt drilling of 8m @ 0.79g/t Au from 27m. Extension AC drilling at Frankfurt and Billygoat (2500m) was completed late-April 2023, with 1300m of diamond drilling and 10km of IP geophysics underway. The presentation also covers the Azura copper-nickel-cobalt-PGE project, with rock chips up to 29.9% Cu and environmental surveys planned ahead of drilling in late 2023, and a listed holding in Tirupati Graphite (LSE:TGR) valued at about $9m.
CorporateSecond Rig Mobilised to White Rabbit District
A second diamond drill rig has been mobilised to the White Rabbit District at the Stavely-Stawell Gold-Copper Project in western Victoria, following identification of intrusion-related gold mineralisation including visible gold in drilling to date. Both rigs will initially target Coxs Find, where IP geophysics defined coincident chargeability and resistivity anomalies below surface gold anomalism of up to 430g/t Au in rockchips. Aircore results are due late June, with diamond drilling and IP results from early July 2023.
Drill resultsInvestor Presentation
An investor presentation covering exploration at the Stavely-Stawell project in western Victoria and the company's listed investment in graphite producer Tirupati Graphite (LSE:TGR), valued at $9.3m. Maiden diamond drilling at Coxs Find in the White Rabbit District, about 15km from the Stawell Gold Mine, intersected quartz-chlorite-carbonate-pyrite veining with visible gold at 200.1m in hole 23BATDD002; 1,300m of diamond drilling and 10km of IP geophysics are underway. Capital structure: 118.6M shares, 10.5cps (14 June 2023), $12.4m market capitalisation.
CorporateCompletion of Capital Consolidation
CorporateUpdate - Consolidation/Split - BAT
A 30-to-1 consolidation of Battery Minerals Limited's securities has been completed, with an effective date of 7 June 2023 and a record date of 13 June 2023. Ordinary fully paid shares reduced from 3,558,587,083 to 118,621,162, with fractions rounded up, and listed and unlisted options and their exercise prices adjusted accordingly. Holding statements are to be sent from 14 June 2023, with normal T+2 trading starting 21 June 2023.
CorporateCompletion of Capital Consolidation Amended
The consolidation of issued capital on a 30-to-1 basis, approved by shareholders at the 31 May 2023 Annual General Meeting, has been implemented by Battery Minerals Limited (ASX: BAT), with normal settlement trading commencing 14 June 2023. Post-consolidation securities include 118,621,162 fully paid ordinary shares and 9,149,595 listed options exercisable at $3.00 expiring 31/07/2023, plus several unlisted option classes. The amended announcement corrects exercise prices for some options that were previously stated incorrectly.
CorporateChange of Directors Interest Notice
A change of director's interest notice for Battery Minerals Limited reports that director Peter Duerden's indirectly held securities were adjusted on 14 June 2023 by a 30 for 1 consolidation of capital, with no securities acquired or disposed. Holdings moved from 3,846,153 ordinary shares to 128,206 shares in one entity, and from 45,592,106 ordinary shares and 55,000,000 Zepo options to 1,519,737 shares and 1,833,336 Zepo options in the other.
CorporateVisible Gold in White Rabbit Maiden Drilling
Maiden diamond drilling at the Coxs Find Prospect in the White Rabbit District of the Stavely-Stawell Project, western Victoria, intersected an intrusive complex with sheeted quartz-sulphide veins and disseminated sulphides consistent with an Intrusion-Related Gold System, with visible gold (pXRF verified) in quartz-sulphide veining at 200.1m in hole 23BATDD002. The 1300m program is testing the Coxs Find, Frankfurt and Cosmopolitan prospects. IP geophysics defined a further target down dip of rockchips up to 430g/t Au. Aircore results are due mid-June and diamond drill assays late-June.
Drill resultsConsolidation/Split - BAT
A 30-to-1 security consolidation for Battery Minerals Limited (ASX: BAT) was approved by security holders on 31/5/2023, with an effective date of 7/6/2023, record date 13/6/2023 and issue date 20/6/2023. Ordinary fully paid shares on issue fall from 3,558,587,083 to an estimated 118,619,569, with listed and unlisted options also consolidated and exercise prices adjusted accordingly; fractions are rounded up to the next whole number. Normal T+2 trading starts 21/6/2023.
CorporateChange in substantial holding
Farjoy Pty Ltd's voting power in Battery Minerals Limited changed on 02/06/2023, with its holding moving from 199,133,245 ordinary shares (9.9%) to 216,764,886 shares (6.09%). The change involved the purchase of 17,631,641 shares for $67,000.24, associated with sub-underwriting the SPP, with the percentage reduction attributed to share dilution. The previous notice was dated 03/12/2020.
CorporateApplication for quotation of securities - BAT
An application has been lodged for quotation of 29,013,159 Battery Minerals Limited (BAT) ordinary fully paid shares, issued 2 June 2023 at AUD 0.0038 per security for cash consideration. The shares relate to a placement previously notified in an Appendix 3B dated 28 April 2023 and were approved by shareholders at the AGM on 31 May 2023. Including other Appendix 2A lodgements on the same date, total BAT securities on issue will be 3,558,587,084.
NewsChange of Directors Interest Notice
Director Peter Duerden acquired an indirect interest in 35,592,106 ordinary shares of Battery Minerals Limited on 2 June 2023, comprising placement shares and shares issued in lieu of directors' fees at $0.0038 per share, following approvals received at the annual general meeting on 31 May 2023. Holdings after the change are 3,846,153 ordinary shares through one entity and 45,592,106 ordinary shares plus 55,000,000 Zepo options through another.
CorporateMaiden Diamond Drilling Program Commences in White Rabbit
Diamond drilling has commenced at the White Rabbit District of the Stavely-Stawell Gold-Copper Project in western Victoria, with 1300m planned to test gold targets at the Coxs Find, Frankfurt and Cosmopolitan Prospects. Drilling begins at Coxs Find, where a discrete strong IP chargeability anomaly sits beneath end-of-hole aircore gold anomalism and rockchips of up to 430g/t Au. Aircore drilling of 59 holes for 2502m has been completed, with results due in early June.
Drill resultsShare Purchase Plan Underwritten
-looking statements and Battery Minerals assumes no obligation to update such information. ## Nerida Schmidt Company Select Tel: +61 411 709 472 Email: info@batteryminerals.com Email: info@batteryminerals.com
FinancingUnmarketable Parcel Share Sale Facility
A share sale facility has been established for holders of Battery Minerals Limited (ASX: BAT) parcels valued at less than $500 at the close of trade on 28 April 2023, being 125,000 shares or less based on the $0.004 share price, equating to 4,167 shares post-consolidation. Shareholders who do not elect to retain their shares by 5:00pm (AWST) on Monday, 26 June 2023 will have them sold with no brokerage cost. A 1 for 30 consolidation, announced 14 April 2023 and subject to shareholder approval, will complete before the facility.
FinancingInvestor Presentation
An investor presentation sets out a gold discovery strategy at the Stavely-Stawell Project in western Victoria and a listed holding of 12,065,500 Tirupati Graphite (LSE:TGR) shares valued at $7.4m. Planned work includes 3,000m of extension aircore drilling at Frankfurt and Billygoat from late-April 2023, 1,500m of diamond drilling at Coxs Find, Frankfurt and Cosmopolitan from mid-May 2023, and 10km of IP geophysics. Capital structure shows 3,357M shares, 0.3cps, $10.1m market capitalisation and $1.8m cash at 1 May 2023.
CorporateNotice of Annual General Meeting/Proxy Form
Battery Minerals Limited (ASX: BAT) will hold its annual general meeting at the KPMG Boardroom, Level 8, 235 St Georges' Terrace, Perth WA at 3.00pm (AWST) on Wednesday, 31 May 2023, with proxies due by 3.00pm (AWST) on Monday, 29 May 2023. The 16 resolutions include adoption of the remuneration report, re-election of Darryl Clark, 10% placement capacity, ratification of prior placement share and option issues, director share and option issues, a 30-to-1 consolidation of shares and options, and adoption of an Employee Securities Incentive Plan.
CorporateSecurity Purchase Plan
_summaryA share purchase plan opened for Battery Minerals Limited shareholders registered in Australia or New Zealand at 13 April 2023, offering up to $30,000 of shares each at $0.0038, a 23.25% discount to the $0.00495 five-day VWAP, to raise a maximum of $500,000. The plan follows a 428,552,632-share placement at $0.0038 to raise $1,628,500, and closes 31 May 2023, with shares to be issued 7 June 2023. Funds will go to Stavely-Stawell Project exploration and working capital.
FinancingProposed issue of securities - BAT
Battery Minerals Limited (ASX: BAT) proposes to issue 29,013,159 fully paid ordinary shares at a deemed value of $0.0038 to extinguish accrued directors' fees owing to Messrs Duerden, Dowling and Clark for the period 1 January to 31 March 2023, plus 180,000,000 incentive options exercisable at 150% of the 5-day VWAP and expiring four years from grant. The proposed issue date is 1 June 2023 and is subject to security holder approval by 31 May 2023.
FinancingQuarterly Cashflow Report
Cash and cash equivalents stood at $676,000 at 31 March 2023, down from $720,000, after net cash used in operating activities of $572,000 for the quarter, including $183,000 on exploration and evaluation, $255,000 on administration and corporate costs and $192,000 on care and maintenance, giving 1.18 quarters of estimated funding. Battery Minerals completed the sale of its Mozambique assets to Tirupati Graphite plc (announced 3 April 2023) and a placement and SPP to raise approximately $2m before fees (announced 14 April 2023).
CorporateQuarterly Activities Report
Sale of the Montepuez and Balama graphite projects in Mozambique to Tirupati Graphite plc (LSE:TGR) completed after quarter end for $500k cash and 12,065,500 TGR ordinary shares, valued at $7.2m. A placement raising about $1.5m was completed, with a proposed Share Purchase Plan to raise a further $0.5m, an unmarketable share sale facility and a 1 for 30 consolidation; cash and listed investments would total $9m. Drilling at Coxs Find and Frankfurt, Stavely-Stawell Project, Victoria, is scheduled for May 2023.
CorporateBecoming a substantial holder
Gladstone Mining (WA) Pty Ltd became a substantial holder in Battery Minerals Limited on 24/04/2023, holding 195,789,474 fully paid ordinary shares, or 5.83% voting power. The notice states that 65,789,474 of those shares were acquired on 26 April 2023 at $0.0038 per share. The shares are registered to Gladstone Mining (WA) Pty Ltd, Stuart Tonkin Invest A/C, and the form was signed by director Stuart Tonkin on 27/04/2023.
CorporateApplication for quotation of securities - BAT
Battery Minerals Limited has applied for quotation of 407,500,000 ordinary fully paid shares (ASX: BAT) issued on 24 April 2023 at AUD 0.0038 per security for cash consideration, under a placement previously notified in an Appendix 3B dated 14 April 2023. Following quotation, issued capital will comprise 3,356,942,345 ordinary shares. Shareholder approval will be sought at the upcoming AGM for 21,052,632 shares to participating directors, with up to 131,578,947 shares to be issued under a proposed SPP.
NewsApplication for quotation of securities - BAT
An application has been lodged for quotation of 14,200,000 ordinary fully paid shares in Battery Minerals Limited (ASX: BAT), issued on 19 April 2023 on exercise of zero-priced options held under an employee incentive scheme, for nil cash consideration. None of the options exercised were held by key management personnel or associates. Following quotation, BAT will have 2,949,442,345 ordinary shares on issue, with 58,775,000 BATAY options remaining.
NewsCapital Raising to fast-track gold discovery strategy
Commitments of approximately $1.55m have been secured through an oversubscribed placement of 407,500,000 shares at $0.0038 per share, with directors subscribing a further $80,000 subject to shareholder approval, and a Share Purchase Plan to raise up to $0.5m on the same terms. Funds will support drilling from late April at the Stawell project in western Victoria, including Cox's Find, where rockchips returned up to 430g/t Au. Shareholders will also vote on a 1 for 30 capital consolidation at the AGM on 31 May 2023, and an unmarketable share sale facility will be implemented.
FinancingProposed issue of securities - BAT
Battery Minerals Limited proposes to issue up to 428,552,632 new ordinary shares at $0.0038 each via a placement, comprising 407,500,000 shares under its 15% capacity with a proposed issue date of 24/4/2023 and 21,052,632 shares to participating directors subject to shareholder approval. A share purchase plan for up to 131,578,947 shares at $0.0038, capped at $500,000 with acceptances from $2,000 to $30,000, opens 1/5/2023 and closes 31/5/2023, with issue on 7/6/2023. Funds are for drill-ready gold targets at Stawell, including Cox's Find, and working capital. Morgans Corporate Limited and Fosters Stockbroking are lead managers on a 6.0% fee plus 50m options.
FinancingAnnual Report to shareholders
2022 annual report for Battery Minerals Limited (ASX: BAT) for the year ended 31 December 2022, reporting a profit after tax of $866,521 (2021: loss of $6,109,524), exploration and evaluation costs of $2,896,721, a $6,079,481 reversal of mine development impairment, and cash and liquid assets of $720k at 31 December 2022. The sale of the Montepuez and Balama graphite projects to Tirupati Graphite for A$9.75 million in shares and A$1.5 million cash remains to be completed, with $500,000 received in January 2023. Exploration at the Stavely-Stawell Project in Victoria included 415 aircore holes for 14,465 metres.
CorporateCorporate Governance Statement
The 2023 Corporate Governance Statement, approved by the Board on 28 March 2023, reports compliance with the 4th edition of the ASX Corporate Governance Council's Principles and Recommendations, with departures disclosed under the if not, why not regime. Non-conformance is reported on gender diversity objectives, anti-bribery and corruption policy, and the absence of separate nomination and audit committees, with the full Board acting as the Audit and Risk Committee. As at 31 December 2022 the Board comprised four directors, only Jeff Dowling independent.
CorporateNotification of cessation of securities - BAT
4,000,000 unquoted options under code BATAY (options expiring various dates at various exercise prices) ceased on 13 March 2023 due to lapse of a conditional right to securities because the conditions were not, or became incapable of being, satisfied. No consideration was paid for the cessation. Battery Minerals Limited now has 2,935,242,345 ordinary fully paid shares and 274,484,066 quoted options expiring 31 July 2023 on issue, plus various unquoted option classes including 68,975,000 remaining BATAY options.
CorporateNotification regarding unquoted securities - BAT
An issue of 4,000,000 unlisted ESOP options was made on 8 March 2023 under the employee share option plan renewed at the May 2021 annual general meeting, exercisable at $0.0086 and expiring 28 February 2028. Of these, 2,000,000 vest one year from grant and 2,000,000 vest two years from grant if the holder remains employed. None were issued to key management personnel, and the issue used the Listing Rule 7.2 exception 13.
NewsNotification of cessation of securities - BAT
27,525,000 unquoted options under code BATAY (option expiring various dates, various exercise prices) ceased on 8 March 2023 due to lapse of a conditional right after conditions were not satisfied, with no consideration paid. Following the cessation, Battery Minerals Limited has 2,935,242,345 ordinary fully paid shares and 274,484,066 quoted options (BATO, expiring 31 July 2023) on issue, plus unquoted options including 72,975,000 remaining BATAY options.
CorporateInvestor Presentation
An investor presentation was released covering the sale of the Mozambique graphite assets to Tirupati Graphite (TGR.LSE) for $11.25m in cash and shares, with a $500k partial payment received and the transaction close to completion. Planning is underway to drill priority gold targets at Coxs Find, part of the Stavely-Stawell project about 10km from the Stawell Gold Mine, in March-April 2023, with infill IP in February-March 2023. At Russells, environmental surveying is scheduled for May 2023.
CorporateDecember 2022 Quarterly Cashflow Report
Cash and cash equivalents stood at $720,000 at 31 December 2022, down from $1,682,000 at the start of the quarter, after net operating cash outflows of $920,000, including $406,000 on exploration and evaluation. Estimated quarters of funding available is 0.78. Completion of the sale of the Mozambique assets to Tirupati Graphite plc, subject to Mozambican government approval, is expected in the March 2023 Quarter for $1.5 million cash plus share consideration of up to $11 million, with $0.5 million received on 27 January 2023.
CorporateDecember 2022 Quarterly Activities Report
Sale of the Montepuez and Balama Graphite Projects in Mozambique to Tirupati Graphite (TGR:LSE) is close to completion, with $500k received in January 2023 as partial consideration; total consideration under the December 2022 Deed of Variation is $9.75M in Tirupati shares and $1.5M cash, with the longstop date extended to 31 March 2023. IP geophysics defined bedrock gold targets beneath rockchip anomalism of up to 430g/t Au at Coxs Find, Stavely-Stawell Project, Victoria, with follow-up IP and drilling planned at Coxs Find and Frankfurt. Cash on hand was $720k at 31 December 2022, with quarterly exploration expenditure of $406,000.
CorporateApplication for quotation of securities - BAT
Battery Minerals Limited has applied for quotation of 10,000,000 ordinary fully paid shares (ASX: BAT), issued 18 January 2023 on the exercise of zero-priced options expiring 31 January 2027, which were issued under shareholder approval received on 28 February 2022. Following quotation, the company will have 2,935,242,345 ordinary shares and 274,484,066 quoted options expiring 31 July 2023 on issue, plus unquoted options including 160,000,000 nil-exercise options expiring 31 January 2027.
NewsChange of Directors Interest Notice
Director Peter Duerden acquired 10,000,000 ordinary shares on 18 January 2023 through the exercise of 10,000,000 zero priced options, which vested on 10 January 2023, for nil consideration. The indirect holdings after the change are 3,846,153 ordinary shares, 10,000,000 ordinary shares and 55,000,000 zepo options. The notice is filed by Battery Minerals Limited (ABN 75 152 071 095) under listing rule 3.19A.2.
Corporate
202241 releases
DOV Paves Way for Completion of Tirupati Transaction
A Deed of Variation has been agreed with Tirupati Graphite plc amending the August 2021 agreements for the sale of the Montepuez and Balama graphite projects in Mozambique. The $2.5M Mozambique capital gains tax assessment will be shared equally, with Battery Minerals' $1.25M share funded by reducing proceeds from $12.5M to $11.25M, leaving total consideration of $9.75M in Tirupati shares and $1.5M cash. Remaining conditions precedent are the CGT payment agreement and a performance bond for Balama.
NewsIP geophysics defines priority high-grade gold targets
An induced polarisation survey at the Stavely-Stawell Gold-Copper Project in western Victoria has defined bedrock chargeability targets beneath rockchip gold anomalism of up to 430g/t Au at the Coxs Find Prospect. Fender Geophysics completed 7 line kilometres using a pole-dipole configuration with 50m and 100m dipoles on 200m spaced lines. The IP survey will be extended over the Frankfurt Prospect, where AC drilling returned 8m @ 0.79g/t Au from 27m to end of hole, with drilling to follow completion of the Mozambique asset sale.
Drill resultsIP geophysics defines high-grade gold targets amended
An induced polarisation survey at the Stavely-Stawell Gold-Copper Project in western Victoria (EL6871) has defined bedrock chargeability targets beneath rockchip gold anomalism of up to 430g/t Au at the Coxs Find Prospect. The survey covered 7 line kilometres using a pole-dipole configuration with 50m and 100m dipoles on 200m spaced lines. Battery Minerals plans to extend the IP survey and drill Coxs Find and Frankfurt, where AC drilling returned 8m @ 0.79g/t Au from 27m to end of hole, after completing the sale of its Mozambique assets.
Drill resultsSeptember 2022 Quarterly Cashflow Report
Cash and cash equivalents stood at $1,682,000 at 30 September 2022, down from $2,584,000 at the start of the quarter, with net cash used in operating activities of $1,233,000 for the quarter, including $584,000 on exploration and evaluation, giving an estimated 1.36 quarters of funding available. The exploration programme at the Stavely Stawell project was concluded during the quarter, with exploration outflows expected below $400,000 per quarter for the next two quarters.
CorporateSeptember 2022 Quarterly Activities Report
IP geophysics commenced at the Coxs Find and Frankfurt prospects at the Stavely-Stawell Project in Victoria to define drill targets beneath rockchip gold anomalism of up to 430g/t Au, with DDH/RC drill planning underway; aircore results were received from 629 holes for 24,436 metres. At the Azura copper-nickel-gold project in WA, heritage clearance is complete and the regulator has requested further environmental permitting before a planned 6 diamond holes for 1,170m. Sale of the Montepuez and Balama graphite projects to Tirupati Graphite for cash and shares is progressing via a Deed of Variation. Cash on hand was $1.7M at 30 September 2022.
CorporateChange of Company Address
Effective 1 November 2022, Battery Minerals Limited (ASX: BAT) has changed the address of its registered office and principal place of business to Unit 1, 72 Kings Park Road, West Perth WA 6005. The company's postal address (PO Box 1622, West Perth WA 6872), telephone number (08) 6148 1000 and email address remain unchanged.
CorporateCompany Secretary Appointment/Resignation
Nerida Schmidt has been appointed Company Secretary of Battery Minerals Limited (ASX: BAT), effective 25 November 2022. She is a Chartered Secretary and Certified Practicing Accountant with 30 years' experience as company secretary of ASX and AIM listed companies. Tony Walsh has resigned as Company Secretary and will leave the Company on 25 November 2022 after 5½ years of service.
ManagementExtension of Longstop Date
The longstop date for Battery Minerals' August 2021 agreements to sell its Mozambique graphite assets (Suni Resources, holding the Montepuez and Balama projects) to Tirupati Graphite has been extended from 30 September 2022 to 31 December 2022 via a Deed of Variation, with four further three-month extensions available at Tirupati's written request. Cash consideration stays at A$1,500,000 and share consideration at A$11,000,000, now priced at 110% of the five-day VWAP prior to completion, with shortened escrow periods. Tirupati will provide a bank guarantee for the Balama Central mining concession.
NewsIP survey commences in areas of strong gold anomalism
An induced polarisation survey has started at the Coxs Find prospect within the Stavely-Stawell Gold-Copper Project in western Victoria, targeting sulphide-hosted gold beneath rockchip results up to 430g/t Au, and will also cover the Frankfurt area where aircore drilling returned 8m @ 0.79g/t Au from 27m to end of hole across a >160m wide zone. Final assays were received from the last 251 holes for 8,755 metres of a 629-hole, 24,436m regional aircore program. At the Azura Copper-Nickel Project, heritage clearance is complete, with the regulator requesting further environmental permitting before drilling of six planned diamond holes for 1,170m.
Drill resultsExtension of Longstop Date
The longstop date in Battery Minerals' August 2021 agreements with Tirupati Graphite plc has been extended from 31 August 2022 to Friday, 30 September 2022. The extension is intended to allow time to obtain all necessary Mozambique government approvals for the sale of the Mozambique graphite projects to Tirupati Graphite, announced on 17 August 2021.
CorporateApplication for quotation of securities - BAT
Battery Minerals Limited applied for quotation of 20,769,228 ordinary fully paid shares (ASX: BAT) issued on 10 August 2022 at AUD 0.0065 per security for cash consideration, completing a placement first notified to the market in an Appendix 3B on 6 June 2022. The issue was approved on a poll by shareholders at a general meeting on 29 July 2022. Following quotation, BAT will have 2,925,242,345 ordinary shares on issue.
NewsJune 2022 Quarterly Cashflow Report
Cash and cash equivalents stood at $2,584,000 at 30 June 2022, after net operating outflows of $1,709,000 for the quarter, including $1,395,000 on exploration and evaluation, and $1,706,000 net from financing activities. Estimated quarters of funding available is 1.51. Following a completed drill programme at the Stavely Stawell project, exploration outflows are expected to be under $900,000 per quarter for the next two quarters, with $250,000 received from the Gabon interest sale, $135,000 due from the placement's second tranche in early August 2022, and $1.5 million expected from the Mozambique asset sale to Tirupati Graphite plc.
CorporateJune 2022 Quarterly Activities Report
Aircore drilling of 318 holes for 10,298 metres was completed at the Stavely-Stawell Project in Victoria during the June 2022 quarter, with 236 holes pending results, targeting Coxs Find, Frying Pan and Nine Mile; rockchips at Coxs Find returned up to 430g/t Au and 174.5g/t Au, and a University of Tasmania petrography study linked gold to primary sulphides. Cash on hand was $2.6M at 30 June 2022, with $250k received from the Kroussou sale and $250k from a Victorian exploration grant. The Mozambique graphite sale to Tirupati Graphite had its long stop date extended to 31 August 2022.
CorporateResults of General Meeting
All seven resolutions put to shareholders of Battery Minerals Limited (ASX: BAT) at the general meeting held at 3.00PM AWST on 29 July 2022 were passed on a poll. The resolutions covered ratification of the Tranche 1 Placement Shares under Listing Rules 7.1 and 7.1A, and the issue of Tranche 2 Placement Shares to David Flanagan, Peter Duerden, Jeff Dowling, Darryl Clark and Tony Walsh.
CorporateNotification of cessation of securities - BAT
A total of 18,000,000 unquoted options (ASX code BATAY) held by Battery Minerals Limited ceased on 21 June 2022, expiring unexercised: 10,000,000 exercisable at 9.4 cents, 5,000,000 at 20 cents and 3,000,000 at 13 cents. No consideration was paid for the cessation. Issued capital now comprises 2,904,473,117 ordinary fully paid shares, 274,484,066 quoted options expiring 31-Jul-2023, and various unquoted option classes including 100,500,000 remaining BATAY options.
CorporateNotice of General Meeting/Proxy Form
A general meeting of Battery Minerals Limited will be held at Ground Floor, 10 Ord Street, West Perth WA 6005 and by webinar on 29 July 2022 at 3.00pm (AWST), with proxy instructions due by 3.00pm (AWST) on 27 July 2022 and the record date set at 5.00pm (AWST) on 27 July 2022. Shareholders will vote on ratifying the prior issue of 44,484,311 and 234,746,457 shares at $0.0065 per share under Listing Rules 7.1 and 7.1A, and on issuing 20,769,232 Tranche 2 placement shares at $0.0065 to directors David Flanagan, Peter Duerden, Jeff Dowling, Darryl Clark and company secretary Tony Walsh.
CorporateApplication for quotation of securities - BAT
An application has been lodged for quotation of 277,777,778 ordinary fully paid BAT shares issued on 27 June 2022, following the Appendix 3B announced 27 June 2022. The shares were issued for non-cash consideration of $1,250,000 paid for tenements, at an estimated value of $0.0045 per security, as detailed in the Notice of AGM for the AGM held on 31 May 2022. Following quotation, BAT will have 2,904,473,117 ordinary fully paid shares on issue.
FinancingProposed issue of securities - BAT
Battery Minerals Limited will issue 277,777,778 fully paid ordinary shares (ASX: BAT) on 27 June 2022 as consideration for the acquisition of tenements, at a deemed consideration of $1.25 million, equating to $0.0045 per share. Shareholders approved the issue at the company's AGM on 31 May 2022. The shares are in an existing quoted class and will rank equally with existing shares; no lead manager, broker or underwriter is involved.
FinancingNotification of cessation of securities - BAT
18,000,000 unquoted options (BATAY, expiring various dates at various exercise prices) ceased on 21 June 2022 due to expiry without exercise or conversion, with no consideration paid. Following the cessation, Battery Minerals Limited has 2,626,695,339 ordinary fully paid shares and 274,484,066 quoted options (BATO, expiring 31 July 2023) on issue, plus unquoted securities including 170,000,000 options expiring 31 January 2027 and a remaining 118,500,000 BATAY options.
CorporateApplication for quotation of securities - BAT
Battery Minerals Limited has applied for quotation of 279,230,768 ordinary fully paid shares (ASX: BAT), issued 10 June 2022 at AUD 0.0065 each for cash consideration, under a placement previously notified to ASX on 6 June 2022. A second tranche of 20,769,232 shares remains subject to shareholder approval at a meeting expected in mid-July 2022. Following quotation, BAT will have 2,626,695,339 ordinary shares on issue.
Financings708A(5)(e) Cleansing Notice
A cleansing notice has been lodged confirming the issue of 279,230,768 fully paid ordinary shares at $0.0065 per share on 24 December 2021 under a placement to sophisticated, professional and institutional investors. The placement comprised 234,746,457 shares issued under the company's 10% capacity under ASX Listing Rule 7.1A and 44,484,311 shares under its 15% capacity under Listing Rule 7.1. The notice states the shares were issued without disclosure under Part 6D.2 of the Corporations Act 2001.
CorporateSecurity Incident in Cabo Delgado province
Reports have been received of an insurgent attack at a mine project site near Ancuabe in Mozambique's Cabo Delgado province, about 200km from Battery Minerals' Balama Project and about 130km from its Montepuez Project. The company's sites were not impacted. Battery considers the event is not a Material Adverse Change under its agreement to sell its Mozambique graphite assets to Tirupati Graphite for $12.5 million in cash and shares, with completion expected by 29 July 2022.
NewsBattery raises $2M to explore Australian Cu-Au projects
Firm commitments for approximately $2 million have been received via a share placement of 300 million shares at 0.65 cents per share, to be issued in two tranches, with Tranche 1 (279,230,769 shares) expected to be issued on or about 10 June 2022 and Tranche 2 (20,769,231 shares) to directors subject to shareholder approval at a meeting expected mid-July 2022. Proceeds will fund exploration at the Stavely Stawell copper-gold project in Victoria and the Russells copper project in the Kimberley, WA, plus working capital. Morgans Corporate and Foster Stockbroking acted as Joint Lead Managers.
FinancingProposed issue of securities - BAT
A placement of 300,000,000 ordinary shares at AUD 0.00650 each is proposed, with a first-tranche issue date of 10 June 2022 using the company's 15% (44,484,312 shares) and additional 10% (234,746,457 shares) placement capacities. Tranche 2, covering 20,769,231 shares for four directors and the company secretary, requires shareholder approval at a meeting expected in mid-July 2022. Funds are for exploration at the Stavely Stawell copper-gold project, drilling at the Russells copper-gold project in the Kimberley, WA, and working capital. Morgans Corporate and Foster Stockbroking acted as Joint Lead Managers for a 6% fee.
FinancingInvestor Presentation June 2022
An investor presentation was released covering the pending A$12.5m cash-and-shares sale of the Mozambique graphite assets to Tirupati Graphite (TGR.LSE), subject to government approval. At the Stavely-Stawell project in Victoria, Cox's Find rock chips of 430 g/t Au and 174.5 g/t Au were reported about 10km from the Stawell Gold Mine, with detailed IP planned for July-August. At Russells, EM conductors and rock chips up to 29.9% Cu support drilling planned for July-August. Cash at 31 March 2022 was $2.6M.
CorporateResults of Annual General Meeting
All six resolutions put to shareholders at the annual general meeting of Battery Minerals Limited (ASX: BAT), held at 3.00PM AWST on 31 May 2022, were passed on a poll. The resolutions covered adoption of the remuneration report, re-election of Mr David Flanagan as a Director, ratification of the issue of Vendor Shares, approval to issue Deferred Consideration Shares, approval of 10% placement capacity, and adoption of a new constitution.
CorporateConstitution approved at Annual General Meeting
Battery Minerals Limited (ABN 75 152 071 095) adopted a new constitution on 31 May 2022, approved by members at the Annual General Meeting. The constitution provides that the replaceable rules in the Corporations Act do not apply to the company, that the company is a public company limited by shares, and permits meetings of members to be held using virtual meeting technology only.
CorporateNotification of cessation of securities - BAT
1,000,000 unlisted incentive options (BATAY), exercisable at 20 cents, expired un-exercised on 22 May 2022, with no consideration paid for the cessation. Following the cessation, Battery Minerals Limited has 2,347,464,571 ordinary fully paid shares and 274,484,066 quoted options expiring 31 July 2023 on issue, plus unquoted options including 170,000,000 expiring 31 January 2027 and 136,500,000 remaining BATAY options.
CorporateMay 2022 Investor Update Presentation
An investor update presentation covering the Stavely-Stawell gold-copper project in Victoria, the Russells copper-nickel-cobalt-PGE project, and the pending sale of Mozambique graphite assets. Highlights include rock chips of 430 g/t Au and 174.5 g/t Au at Coxs Find, about 10 km from the Stawell Gold Mine, and up to 29.9% Cu rock chips at Russells. The Mozambique graphite sale to Tirupati Graphite for A$12.5 million in cash and shares remains pending government approval. Market capitalisation was $21.12 million at 2 May 2022, with $2.6 million cash at 31 March 2022.
CorporateStrong bedrock rockchip gold anomalism confirmed @ Coxs Find
Rockchip sampling at the Coxs Find prospect within the Stavely-Stawell Copper-Gold Project in western Victoria returned 174.5 g/t Au, 68.1 g/t Au and 38.4 g/t Au, verifying historical results up to 430 g/t Au. A University of Tasmania petrography study indicates gold is associated with primary sulphides (galena, sphalerite, chalcopyrite). Detailed IP geophysics is planned for late May 2022, and aircore results were received from 60 holes for 2,549 metres, with 17,036m completed to date.
Drill resultsQuarterly Cash Flow Report
Cash and cash equivalents stood at A$2,589,000 at 31 March 2022, down from A$3,914,000 at the start of the quarter. Net cash used in operating activities was A$1,257,000, including A$721,000 on exploration and evaluation, A$437,000 on administration and corporate costs and A$130,000 on care and maintenance; investing outflows were A$28,000 and financing outflows A$18,000. Estimated quarters of funding available is 2.06, with no financing facilities and A$139,000 paid to related parties as directors' fees.
CorporateQuarterly Activities Report
Aircore drilling of 97 holes for 4,167 metres was completed at the Coxs Find, Frying Pan, White Rabbit and Rutters Track prospects at the Stavely-Stawell copper-gold project in Victoria during the March 2022 quarter, part of an initial 15,000 metre program, with broad copper anomalism defined at the Kent Road Prospect. At the Russells copper-nickel project in Western Australia, VTEM processing identified six high priority targets, with 6 diamond holes for 1,170m planned.
CorporateExtension of Longstop Date
The longstop date under Battery Minerals' August 2021 agreements with Tirupati Graphite plc has been extended from 29 April 2022 to Friday, 29 July 2022, to allow time to obtain Mozambique government approvals for the sale of the Montepuez and Balama Central graphite projects. The sale of Suni Resources SA, announced 17 August 2021, is for total consideration of $12.5 million in cash and shares. Shareholder approval was received on 30 September 2021.
NewsBAT:Agreement to sell remaining interests in KroussouProject
Battery Minerals has signed a Deed of Termination and Release with Trek Metals and Apollo Minerals to sell its remaining interests in the Kroussou zinc-lead project in Gabon to Apollo for AUD$250,000 cash, subject to completion of the Share Sale Deed between Trek and Apollo. The deal extinguishes a US$500,000 Decision to Mine payment owed to Battery Minerals and all residual royalty rights, including a 1% Net Smelter Royalty, giving Apollo 100% of Kroussou.
AcquisitionAON: Apollo Minerals Secures 100% Ownership of Kroussou
Apollo Minerals will move from an 80% interest to 100% ownership of the Kroussou zinc-lead project in Gabon through a share sale deed with Trek Metals and a deed of termination and release with Trek and Battery Minerals. Consideration is 3,000,000 Apollo shares and 1,000,000 unlisted options exercisable at A$0.12 by 30 June 2024 to Trek, plus A$250,000 cash to Battery Minerals, releasing Apollo from a US$500,000 Decision to Mine payment and a 1% Net Smelter Royalty. Completion is subject to shareholder approval and conditions by 30 September 2022. Two diamond rigs are drilling at Dikaki.
AcquisitionNotification regarding unquoted securities - BAT
5,000,000 unquoted ESOP options were issued on 24 March 2022 under Battery Minerals Limited's employee share option plan renewed at the May 2021 annual general meeting. The options are exercisable at 2.5 cents each and expire on 31 March 2027, with 2,500,000 lapsing if the employee leaves within one year of grant and the remaining 2,500,000 lapsing if the employee leaves within two years. Following the issue, the company has 2,347,464,571 ordinary shares on issue.
CorporateAnnual Report to shareholders
The 2021 annual report covers Battery Minerals' shift from Mozambique graphite developer to Australian copper-gold explorer, including the agreed sale of the Montepuez and Balama graphite projects to Tirupati Graphite for $12.5 million ($11 million in shares, $1.5 million cash), expected to complete in the first half of 2022. Exploration at the Stavely-Stawell Project in western Victoria included 212 aircore holes for 9,971m and 3,840 line kilometres of Falcon airborne gravity. The Group reported a loss of $6,109,524 and held cash and liquid assets of $3.9M at 31 December 2021.
CorporateVTEM survey identifies conductors and Cu Ni drill targets
<thinking>Summarize.</thinking>A VTEM airborne survey at the Russells Copper-Nickel Project in WA's East Kimberley identified 32 conductor target areas (6 priority-1, 9 priority-2, 17 priority-3) from 109 EM anomaly picks, flown over 510 line kilometres on 100m spaced lines. A drilling program of 6 diamond holes for 1,170m will test priority conductors and surface copper anomalism, including rock chips up to 29.9% copper at Russells Gossan, starting in the June 2022 quarter after heritage clearance in April-May 2022.
Drill results