New Risk • Mar 03
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 3.4% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Announcement • Oct 23
Tribeca Global Natural Resources Limited, Annual General Meeting, Nov 21, 2025 Tribeca Global Natural Resources Limited, Annual General Meeting, Nov 21, 2025. Location: clifton events solutions, level 13, 60 margaret street, sydney nsw 2000 Australia Announcement • Aug 27
Tribeca Global Natural Resources Limited announces Annual dividend, payable on October 03, 2025 Tribeca Global Natural Resources Limited announced Annual dividend of AUD 0.0500 per share payable on October 03, 2025, ex-date on September 02, 2025 and record date on September 03, 2025. New Risk • Aug 27
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 3.2% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (AU$122.1m market cap, or US$79.2m). Announcement • Oct 22
Tribeca Global Natural Resources Limited, Annual General Meeting, Nov 22, 2024 Tribeca Global Natural Resources Limited, Annual General Meeting, Nov 22, 2024. Location: the executive centre, level 26, 1 bligh street, sydney nsw 2000, Australia Board Change • Sep 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. Independent Non-Executive Director Nick Myers was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. New Risk • Feb 28
New major risk - Revenue and earnings growth Earnings have declined by 0.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 0.1% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (28% increase in shares outstanding). Market cap is less than US$100m (AU$112.3m market cap, or US$73.5m). Announcement • Nov 15
Tribeca Global Natural Resources Announces Retirement of Ben Cleary and Todd Warren as Members of Board Tribeca Global Natural Resources announced that Mr. Ben Cleary and Mr. Todd Warren have stepped down from the Board of TGF as non-executive non-independent directors, effective November 14, 2023. Mr. Cleary and Mr. Warren will continue to lead the portfolio management team of the investment manager and concentrate on managing TGF's investment strategy and delivering investment returns. They will continue to maintain close collaboration with the Board, providing regular reports on investment strategy, management, and implementation. Following Mr. Cleary's and Mr. Warren's retirements, the Board is composed of three non-executive independent directors. Announcement • Oct 19
Tribeca Global Natural Resources Limited, Annual General Meeting, Nov 17, 2023 Tribeca Global Natural Resources Limited, Annual General Meeting, Nov 17, 2023, at 14:00 AUS Eastern Standard Time. Location: The Executive Centre, Level 26, 1 Bligh Street Sydney New South Wales Australia Agenda: To receive and consider the Financial Statements, Director's Report and Auditor's Report of the Company for the financial year ended 30 June 2023; to consider the Adoption of Remuneration Report; to consider and Re-election of Director Rebecca O'Dwyer; and to consider other matter also. Recent Insider Transactions • Aug 31
Non-Independent Director recently bought AU$128k worth of stock On the 29th of August, Benjamin Cleary bought around 75k shares on-market at roughly AU$1.70 per share. This transaction amounted to 2.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$236k more in shares than they have sold in the last 12 months. Announcement • Aug 29
Tribeca Global Natural Resources Limited Announces Dividend for the Six Months Ended June 30, 2023, Payable on September 22 2023 Tribeca Global Natural Resources Limited announced a dividend of AUD 0.05 per share for the six months ended June 30, 2023 compared to INR 2 per share paid a year ago. Dividend is payable on September 22, 2023. Record date is September 8, 2023. Ex-dividend date is September 7, 2023. New Risk • Aug 24
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (28% increase in shares outstanding). Market cap is less than US$100m (AU$134.4m market cap, or US$87.0m). Announcement • Oct 21
Tribeca Global Natural Resources Limited, Annual General Meeting, Nov 25, 2022 Tribeca Global Natural Resources Limited, Annual General Meeting, Nov 25, 2022, at 14:00 AUS Eastern Standard Time. Location: The Executive Centre, Level 26, 1 Bligh Street Sydney New South Wales Australia Agenda: To adoption of Remuneration Report; to consider re-election of Director - Bruce Loveday; and to consider re-election of Director Todd Warren. Recent Insider Transactions • Sep 06
Non-Independent Director recently bought AU$55k worth of stock On the 2nd of September, Benjamin Cleary bought around 26k shares on-market at roughly AU$2.15 per share. This transaction amounted to 1.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$1.3m more in shares than they have sold in the last 12 months. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment deteriorated over the past week After last week's 18% share price decline to AU$2.08, the stock trades at a trailing P/E ratio of 2.5x. Average trailing P/E is 15x in the Capital Markets industry in Australia. Total returns to shareholders of 3.5% over the past three years. Recent Insider Transactions • Mar 04
Independent Non-Executive Director recently bought AU$57k worth of stock On the 3rd of March, Nicholas Myers bought around 20k shares on-market at roughly AU$2.84 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$1.5m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Nov 13
Non-Independent Director recently bought AU$88k worth of stock On the 10th of November, Benjamin Cleary bought around 35k shares on-market at roughly AU$2.51 per share. In the last 3 months, they made an even bigger purchase worth AU$510k. Insiders have collectively bought AU$1.5m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Oct 21
Non-Independent Director recently bought AU$510k worth of stock On the 19th of October, Benjamin Cleary bought around 200k shares on-market at roughly AU$2.55 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$1.2m more in shares than they have sold in the last 12 months. Valuation Update With 7 Day Price Move • Sep 06
Investor sentiment improved over the past week After last week's 19% share price gain to AU$2.41, the stock trades at a trailing P/E ratio of 2.8x. Average trailing P/E is 17x in the Capital Markets industry in Australia. Total returns to shareholders of 93% over the past year. Recent Insider Transactions • Aug 28
Non-Independent Director recently bought AU$82k worth of stock On the 25th of August, Benjamin Cleary bought around 40k shares on-market at roughly AU$2.05 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$502k more in shares than they have sold in the last 12 months. Is New 90 Day High Low • Feb 25
New 90-day high: AU$2.07 The company is up 41% from its price of AU$1.47 on 27 November 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is down 1.0% over the same period. Is New 90 Day High Low • Jan 14
New 90-day high: AU$1.97 The company is up 64% from its price of AU$1.20 on 16 October 2020. The Australian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 2.0% over the same period. Announcement • Jan 04
Tribeca Global Natural Resources Limited Announces Board Changes Tribeca Global Natural Resources Limited announces that it has appointed Ms. Rebecca O'Dwyer as an Independent Non-Executive Director with effect from 4 January 2021. Ms. Judy Mills and Mr. Greg Clarke have resigned as Independent Non-Executive Directors of the Company, effective 1 January 2021. Rebecca has 15 years of financial services experience working in Australia and UK, in addition to four years professional experience as a mining engineer. She worked for eight years as Senior Mining Analyst with Colonial First State Global Asset Management and six years as a sell-side analyst covering resources equities with Morgan Stanley and Investec. Prior to this, she worked for Anglo American as a mining engineer. Is New 90 Day High Low • Dec 21
New 90-day high: AU$1.67 The company is up 39% from its price of AU$1.20 on 22 September 2020. The Australian market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 11% over the same period. Recent Insider Transactions • Dec 19
Non-Independent Director recently bought AU$80k worth of stock On the 14th of December, Benjamin Cleary bought around 50k shares on-market at roughly AU$1.60 per share. In the last 3 months, they made an even bigger purchase worth AU$88k. Insiders have collectively bought AU$529k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Dec 13
Non-Independent Director recently bought AU$88k worth of stock On the 7th of December, Benjamin Cleary bought around 55k shares on-market at roughly AU$1.61 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$449k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Dec 04
Non-Independent Director recently bought AU$75k worth of stock On the 30th of November, Benjamin Cleary bought around 50k shares on-market at roughly AU$1.51 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$361k more in shares than they have sold in the last 12 months. Announcement • Nov 13
Tribeca Global Natural Resources Limited, Annual General Meeting, Dec 18, 2020 Tribeca Global Natural Resources Limited, Annual General Meeting, Dec 18, 2020, at 14:00 AUS Eastern Standard Time. Location: Level 12, 225 George Street, Sydney New South Wales Australia Agenda: To receive and consider the financial statements, director's report and auditor's report of the Company for the financial year ended 30 June 2020; to consider the adoption of remuneration report; to consider the re-election of Director. Is New 90 Day High Low • Nov 09
New 90-day high: AU$1.33 The company is up 3.0% from its price of AU$1.29 on 11 August 2020. The Australian market is also up 3.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. Its price trend is also similar to the Capital Markets industry, which is up 3.0% over the same period. 