New Risk • Jul 29
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$13.7m (US$9.46m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.1m free cash flow). Earnings have declined by 58% per year over the past 5 years. Shareholders have been substantially diluted in the past year (136% increase in shares outstanding). Revenue is less than US$1m (AU$22k revenue, or US$15k). Market cap is less than US$10m (AU$13.7m market cap, or US$9.46m). Minor Risk Share price has been volatile over the past 3 months (15% average weekly change). Recent Insider Transactions • Jul 05
Non-Executive Independent Director recently bought AU$109k worth of stock On the 29th of June, Mark Tomlinson bought around 2m shares on-market at roughly AU$0.068 per share. This transaction amounted to 54% 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$561k more in shares than they have sold in the last 12 months. New Risk • Jun 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 15% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.1m free cash flow). Earnings have declined by 58% per year over the past 5 years. Shareholders have been substantially diluted in the past year (136% increase in shares outstanding). Revenue is less than US$1m (AU$22k revenue, or US$15k). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (AU$19.5m market cap, or US$13.4m). Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Non-Executive Independent Director Mark Tomlinson was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • May 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.1m free cash flow). Earnings have declined by 58% per year over the past 5 years. Shareholders have been substantially diluted in the past year (136% increase in shares outstanding). Revenue is less than US$1m (AU$22k revenue, or US$16k). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (AU$14.5m market cap, or US$10.5m). Board Change • May 01
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Non-Executive Independent Director Mark Tomlinson was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Nov 28
BOA Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 3.75 million. BOA Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 3.75 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 150,000,000
Price\Range: AUD 0.025
Discount Per Security: AUD 0.0015
Transaction Features: Subsequent Direct Listing Ankündigung • Nov 27
BOA Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 3.75 million. BOA Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 3.75 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 150,000,000
Price\Range: AUD 0.025
Discount Per Security: AUD 0.0015
Transaction Features: Subsequent Direct Listing Ankündigung • Nov 26
BOA Resources Limited (ASX:BOA) agreed to acquire 49% stake in Stanifer Pty Ltd from Core Value Australia NL for AUD 0.59 million. BOA Resources Limited (ASX:BOA) agreed to acquire 49% stake in Stanifer Pty Ltd from Core Value Australia NL for AUD 0.59 million on November 25, 2025. The consideration consists of 17.27 million common equity of BOA Resources Limited to be issued for common equity of Stanifer Pty Ltd. As part of consideration, an undisclosed value is paid towards common equity of Stanifer Pty Ltd. BOA will fund the first AUD 500,000 of expenditure, in exchange for an exclusive option to acquire the remaining 51% of the issued capital of Stanifer for an additional 17,269,399 BOA shares. Ankündigung • Oct 28
BOA Resources Limited, Annual General Meeting, Nov 27, 2025 BOA Resources Limited, Annual General Meeting, Nov 27, 2025. Location: port phillip room, business centre and member lounge, australian institute of company directors, level 26-27, 367 collins street, melbourne, vic 3000 Australia Ankündigung • Oct 30
Boadicea Resources Ltd, Annual General Meeting, Nov 29, 2024 Boadicea Resources Ltd, Annual General Meeting, Nov 29, 2024. Location: port phillip room, business centre and member lounge, australian institute of company directors, level 26-27, 367 collins street, melbourne, vic 3000 Australia Ankündigung • Oct 29
Boadicea Resources Ltd Appoints MARK TOMLINSON as Director Boadicea Resources Ltd. appointed MARK TOMLINSON as Director, effective 29 October 2024. New Risk • Sep 27
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$1.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.8m free cash flow). Shares are highly illiquid. Earnings have declined by 33% per year over the past 5 years. Revenue is less than US$1m (AU$259k revenue, or US$178k). Market cap is less than US$10m (AU$2.47m market cap, or US$1.70m). Ankündigung • Mar 07
Trigg Minerals Limited (ASX:TMG) completed the acquisition of 90% stake in Four new tenements in northern Queensland from Boadicea Resources Ltd (ASX:BOA). Trigg Minerals Limited (ASX:TMG) entered into a binding term sheet to acquire 90% stake in Four new tenements in northern Queensland from Boadicea Resources Ltd (ASX:BOA) for AUD 0.32 million on November 28, 2023. Trigg Minerals Limited will pay for AUD 20,000 in cash and issue for AUD 300,000 in TMG shares to BOA as consideration for the 90% interests in the licenses. The transaction is subject to certain conditions precedent, including regulatory consents or approvals (if any), due diligence. Completion of the transaction is expected to occur in late February 2024.
Trigg Minerals Limited (ASX:TMG) completed the acquisition of 90% stake in Four new tenements in northern Queensland from Boadicea Resources Ltd (ASX:BOA) on March 7, 2024. The transfer of ownership of the Tenements is subject to final approval by the Queensland Government Department of Resources. In the interim, the companies have executed a deed under which Trigg will assume the operating rights and expenditure commitments for the Tenements on behalf of Boadicea. Ankündigung • Nov 02
Boadicea Resources Ltd Announces Executive Changes The Board of Boadicea Resources Ltd. advised Domenic De Marco and Jon Reynolds have transitioned to retirement effective immediate. The Board has also elected Cath Norman as Chair of the Company for the period up to theconclusion of the AGM to be held on 28 November 2023. At the first Board meeting following the AGM, the Board will elect an ongoing Chair. Ankündigung • Oct 27
Boadicea Resources Ltd Appoints Cath Norman as Managing Director, Effective November 1, 2023 Resource industry leading figure Cath Norman has been appointed to the Boadicea Board to lead the company's next phase of growth. The Boadicea Board has conducted an extensive executive search process since the announcements of the pending retirements of Non-Executive Chairman Domenic De Marco and Managing Director Jon Reynolds, to find key talent to lead the next phase of the company's growth and create shareholder wealth. The board directed Graeme Purcell and James Barrie to lead this project, which focused on targeted skills and attributes to identify shortlisted candidates, including: Exploration background; Stakeholder engagement/communication and professional networks; Proven ability to review, implement and deliver on strategic priorities; corporate activities, including business turnaround, capital management and M&A; Drive financial growth while unlocking Boadicea's exploration potential; Diversity for the board and strong personal attributes. Cath Norman is a geophysicist with more than 30 years' experience in the minerals and oil and gas exploration industry, having held executive positions in Australia and the UK, as well as operating in Europe, Africa, the Middle East and Australia. A highly experienced executive, Cath also brings experience in asset capture and monetization, capital markets, finance, joint ventures, ESG and ASX listed company management to the board of Boadicea. She has an outstanding pedigree of exploration success having led ASX-listed FAR Ltd.'s successful exploration and oil discovery offshore Senegal, West Africa. The company's oil discovery was named the world's largest oil discovery for 2014. She was Managing Director from 2011 to 2022. More recently Cath Norman led ASX-listed graphite miner Lincoln Minerals Limited out of long-term suspension from the ASX, a position she held until July 2023. Cath is a member of the Australian Institute of Company Directors and various other professional organisations. The Boadicea Board has resolved to make this appointment effective from the date of the next Board meeting, which is scheduled for 1 November 2023, recognising the importance of a handover period prior to the 2023 AGM. As the newly appointed Managing Director, Cath Norman will present to shareholders the vision and direction for the company at next month's AGM. Details of the material terms of Ms. Norman's employment: Appointment: Ms. Norman has been appointed as Managing Director, commencing 26 October 2023. Term: The appointment is ongoing with no fixed term. The new Boadicea Board, effective 1 November 2023, will be Cath Norman, James Barrie and Graeme Purcell. Ankündigung • Oct 14
Boadicea Resources Ltd, Annual General Meeting, Nov 28, 2023 Boadicea Resources Ltd, Annual General Meeting, Nov 28, 2023, at 14:01 AUS Eastern Standard Time. New Risk • Sep 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$2.1m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.1m free cash flow). Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 4.4% per year over the past 5 years. Shareholders have been substantially diluted in the past year (66% increase in shares outstanding). Revenue is less than US$1m (AU$62k revenue, or US$40k). Market cap is less than US$10m (AU$5.16m market cap, or US$3.33m). New Risk • Sep 20
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 Share price has been highly volatile over the past 3 months (23% average weekly change). Shareholders have been substantially diluted in the past year (66% increase in shares outstanding). Revenue is less than US$1m (AU$599 revenue, or US$387). Market cap is less than US$10m (AU$4.91m market cap, or US$3.17m). Minor Risk Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). New Risk • Sep 03
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 Share price has been highly volatile over the past 3 months (20% average weekly change). Shareholders have been substantially diluted in the past year (66% increase in shares outstanding). Revenue is less than US$1m (AU$599 revenue, or US$386). Market cap is less than US$10m (AU$4.13m market cap, or US$2.66m). Minor Risk Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Ankündigung • Aug 11
Boadicea Resources Ltd Announces Resignation of Jonathan Reynolds as Managing Director Boadicea Resources Ltd. announced that Mr. Jonathan Reynolds has tendered his resignation as Managing Director following his decision to retire due to number of unforeseen personal factors. Jon's resignation will become effective once a new executive appointment has been made. New Risk • Jul 14
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 58% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Shareholders have been substantially diluted in the past year (58% increase in shares outstanding). Revenue is less than US$1m (AU$599 revenue, or US$412). Market cap is less than US$10m (AU$5.05m market cap, or US$3.47m). Ankündigung • Jun 10
Boadicea Resources Ltd Announces Board Changes Boadicea Resources Ltd. announced James Barrie has been appointed as a non-executive director on the company's board, effective 9 June 2023. Furthermore, Boadicea has begun its search for a non-executive chairman following Domenic De Marco announcing his forthcoming retirement from the board to be effective at the time of the company's 2023 annual general meeting to be held later this year. James Barrie has been Boadicea company secretary since August 2020 and has been an integral part of the company's delivery of all governance and administrative requirements. His strength and expertise are driven by his extensive career and background across various industry sectors, from start-ups to ASX 20. His knowledge of the mining and resources sector is strengthened by his seven years employed at WMC. Mr. Barrie has been providing the board with independent advice and expertise across various governance and corporate responsibility requirements required of an ASX-listed company. A professional non-executive director and company secretary, Mr. Barrie's skills include corporate governance, share registry, employment plans, treasury, capital management, accounting, commercial analysis, mergers and acquisitions, strategy, stakeholder relations and business development. Non-executive chairman Domenic De Marco has been with Boadicea Resources since the company IPO in October 2012. A director of the Company since June 2017, he was appointed Boadicea chairman in 2021. Mr. De Marco has served the company's interests with great expertise and capability that has seen the company through significant change, especially since April 2020 when the current board and management took the reins. Board Change • May 19
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Director Graeme Purcell was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 20
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Director Graeme Purcell was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 04
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Director Graeme Purcell was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jan 14
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Director Graeme Purcell was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Jan 12
Boadicea Resources Ltd Announces IGO Exploration Activities Update Report IGO's most recent work on Boadicea tenements has detected anomalous intercepts of nickel, copper and cobalt at the Transline tenements in the northern section of the Fraser Range. Furthermore, work at South Plumridge has detected a new conceptual target that will form the focus of further investigative exploration in 2023. IGO completed an extensive exploration program of works in Fourth Quarter CY2022 within the Boadicea tenements which included further aircore drilling, geophysical EM survey and analysis of assays from previous drilling. Completion of 70 aircore holes for 4,268 metres completed in Third Quarter CY2022. Three (3) additional aircore holes ere completed at Ballast Eye in the current quarter. 1,252 assays have been received this quarter for Ballast NE, Ballast Eye, Ballast Central, and Buckbeak targets. Several anomalous intercepts have been detected in air core drilling including o 864ppm Ni in a BOH sample from 22AFAC10443 o 430 ppm Cu from 34-45m (11m) in 22AFAC10400 o 464ppm Co from 10-14m (weathered clays) in 22AFAC10406 IGO geochemical ranking has two moderate-high geochemical scores for intercepts in the Ballast Eye and Ballast NE targets providing support for additional work. Six (6) Moving Loop Electro Magnetic (MLEM) stations were completed on South Plumridge (E28/2937). Results planned for First Quarter CY2023. Planning for a deep diamond drill hole (~>1000m) within Symons Hill (E28/1932) to test the Hercules intrusion continues. Hercules is interpreted to extend within the Symons Hill licence. Drilling is planned to commence in mid CY2023 subject to the completion of land clearing and operational logistics. A total 1,252 assays have been received this quarter for targets Ballast NE (Transline North E28/2849), Ballast Eye, Ballast Central, and Buckbeak all within Transline West 2 (E28/2895), following air core drilling completed in the previous quarter. Several anomalous intercepts have been detected with: 864ppm Ni in a BOH sample from 22AFAC10443, 430ppm Cu from 34-45m (11m) in 22AFAC10400, and 464ppm Co from 10-14m (weathered clays) in 22AFAC10406. Six MLEM stations, part of a wider array, were surveyed within South Plumridge (E28/2937). This survey is testing a target generated through reprocessed Spectrem data, completed in February 2022, and is nearthe interpreted Beacon target. Results of the survey are pending, expected in First Quarter CY2023. Three aircore holes (322m) were drilled this quarter, completing the Ballast Eye target drill program started in Third Quarter CY2023. Ballast Eye is targeting a large interpreted magnetic eye feature proximal to the Mawson and Octagonal prospects, both owned by Legend Mining. Board Change • Dec 14
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Director Graeme Purcell was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Director Graeme Purcell was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 26
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Director Graeme Purcell was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jul 26
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Director Graeme Purcell was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Director Graeme Purcell was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 07
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Director Graeme Purcell was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. 
