New Risk • May 27
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 52% 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 Share price has been highly volatile over the past 3 months (49% average weekly change). Earnings have declined by 2.9% per year over the past 5 years. Shareholders have been substantially diluted in the past year (52% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Significant insider selling over the past 3 months (€347k sold). Market cap is less than US$100m (€78.2m market cap, or US$91.0m). Ankündigung • May 22
CuFe Ltd has completed a Follow-on Equity Offering in the amount of AUD 15.351988 million. CuFe Ltd has completed a Follow-on Equity Offering in the amount of AUD 15.351988 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 307,039,759
Price\Range: AUD 0.05
Transaction Features: Subsequent Direct Listing 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. 3 non-independent directors. Independent Non-Executive Director David Palmer was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • May 19
CuFe Ltd has filed a Follow-on Equity Offering in the amount of AUD 15.351988 million. CuFe Ltd has filed a Follow-on Equity Offering in the amount of AUD 15.351988 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 307,039,759
Price\Range: AUD 0.05
Transaction Features: Subsequent Direct Listing Ankündigung • Oct 21
CuFe Ltd has completed a Follow-on Equity Offering in the amount of AUD 5.4 million. CuFe Ltd has completed a Follow-on Equity Offering in the amount of AUD 5.4 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 317,647,059
Price\Range: AUD 0.017
Discount Per Security: AUD 0.00102
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Ankündigung • Oct 15
CuFe Ltd has filed a Follow-on Equity Offering in the amount of AUD 5.399995 million. CuFe Ltd has filed a Follow-on Equity Offering in the amount of AUD 5.399995 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 317,646,765
Price\Range: AUD 0.017
Discount Per Security: AUD 0.00102
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Ankündigung • Oct 07
CuFe Ltd, Annual General Meeting, Nov 26, 2025 CuFe Ltd, Annual General Meeting, Nov 26, 2025. Board Change • Aug 18
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 David Palmer was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Mar 25
The Tennant Creek Alliance, Comprising Tennant Minerals Limited , Cufe Ltd and Emmerson Resources Ltd Provides an Update on the Alliance Activities in Tennant Creek, Barkly Region, Northern Territory The Tennant Creek Alliance, comprising Tennant Minerals Limited (TMS), CuFe Ltd. (CUF) and Emmerson Resources Ltd. (ERM) ("the Companies" & "the Alliance") provided an update on the Alliance activities in Tennant Creek, Barkly Region, Northern Territory. Since formation of the Alliance in October 2024, the Companies have been collaborating to evaluate the viability of a multi-user facility for processing of copper-gold-critical mineral resources from the Companies tenure in the region. The stated objectives of the Alliance includes, the joint evaluation by completion of a scoping study, to be followed by a pre- feasibility study (PFS), of processing options including a multi-user facility based in the Tennant Creek region. The Alliance technical teams have been active, with the following activities underway and/or complete using a combination of in-house technical teams and external consultants. The work streams include; Resource updates for: CUF- Orlando and Gecko deposits. Initial mineralisation models of: Bluebird deposit (TMS). Hermitage and Jasper Hills deposits (ERM). Option analysis for process plant location. Underground and open pit optimisations, mine design and scheduling. Metallurgical test work review and modelling, process plant flow sheet design and sizing. Logistical network evaluation and optimisation. Operational and capital cost estimates. Consolidation of shared resources across the assets to reduce both operational and capital costs Current gold and copper prices, as well as rises in the price of the critical minerals including bismuth and cobalt, combined with global demand trends, strongly support the ongoing evaluation of a shared processing facility model. The "stronger together" concept behind the Alliance is expected to allow the re-establishment of copper mining and processing in the region. This will be of immediate benefit to the Alliance stakeholders, the Barkly region and the Northern Territory. The Alliance reported that it has recently received a letter of support for its activities from the Mines Minister of the Northern Territory. The letter from Minister Maley indicates the Northern Territory Government's understanding of the potential of the project for delivering economic benefits to the region and to Australia. Ankündigung • Jan 21
CuFe Ltd Appoints David Palmer as A Non-Executive Director with Effect from 1 February 2025 CuFe Ltd. announced the appointment of David Palmer as a Non-Executive Director with effect from 1 February 2025. Mr. Palmer is a geologist and company director with more than 38 years' experience in the global exploration industry, the majority of his career has been with Rio Tinto Exploration focused on copper/gold, base metals, industrial minerals, uranium, iron ore, and diamonds throughout Australia and the Asia/Pacific. Mr. Palmer is a member of AusIMM and the AICD. Amongst other senior positions, Mr. Palmer led the business development, mineral title and indigenous engagement functions and was part of the management team that discovered the world-class Winu Cu-Au deposit. David holds a Bachelor of Science (First Class Honours) from the University of Newcastle. Upon Mr. Palmer's appointment Mr. Nicholas Sage will resign from the CuFe Board, also with effect from 1 February 2025. Buy Or Sell Opportunity • Oct 25
Now 71% undervalued after recent price drop Over the last 90 days, the stock has fallen 86% to €0.0005. The fair value is estimated to be €0.0017, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 71% over the last 3 years. Earnings per share has declined by 60%. Ankündigung • Oct 09
CuFe Ltd, Annual General Meeting, Nov 27, 2024 CuFe Ltd, Annual General Meeting, Nov 27, 2024. Buy Or Sell Opportunity • Oct 04
Now 73% undervalued after recent price drop Over the last 90 days, the stock has fallen 73% to €0.002. The fair value is estimated to be €0.0073, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 71% over the last 3 years. Earnings per share has declined by 60%. Reported Earnings • Oct 01
Full year 2024 earnings released: AU$0.012 loss per share (vs AU$0.012 loss in FY 2023) Full year 2024 results: AU$0.012 loss per share (in line with FY 2023). Revenue: AU$96.1m (up 175% from FY 2023). Net loss: AU$13.6m (loss widened 22% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 60% per year whereas the company’s share price has fallen by 62% per year. Ankündigung • Jul 18
CuFe Ltd (ASX:CUF) entered into a binding agreement to acquire Exploration application E80/6052 in West Arunta Niobium province from Territory Prospecting Pty Ltd for AUD 0.08 million. CuFe Ltd (ASX:CUF) entered into a binding agreement to acquire Exploration application E80/6052 in West Arunta Niobium province from Territory Prospecting Pty Ltd for AUD 0.08 million on July 17, 2024. The consideration consists of upfront cash component of AUD 0.01 million, issue of 1.56 million common equity of CuFe Ltd having a value of AUD 0.025 and a further cash payment of AUD 0.05 million upon the grant of the tenure or the execution of heritage agreement. Ankündigung • May 25
CuFe Ltd has completed a Follow-on Equity Offering in the amount of AUD 3 million. CuFe Ltd has completed a Follow-on Equity Offering in the amount of AUD 3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 187,500,000
Price\Range: AUD 0.016
Discount Per Security: AUD 0.00096
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Ankündigung • May 20
CuFe Ltd has filed a Follow-on Equity Offering in the amount of AUD 3 million. CuFe Ltd has filed a Follow-on Equity Offering in the amount of AUD 3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 187,500,000
Price\Range: AUD 0.016
Discount Per Security: AUD 0.00096
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Buy Or Sell Opportunity • Mar 28
Now 86% undervalued after recent price drop Over the last 90 days, the stock has fallen 50% to €0.0005. The fair value is estimated to be €0.0036, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 83% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Mar 20
First half 2024 earnings released: AU$0.006 loss per share (vs AU$0.007 loss in 1H 2023) First half 2024 results: AU$0.006 loss per share (improved from AU$0.007 loss in 1H 2023). Revenue: AU$49.7m (up 197% from 1H 2023). Net loss: AU$6.94m (flat on 1H 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. New Risk • Mar 04
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.95m (US$9.72m) 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$8.3m free cash flow). Share price has been highly volatile over the past 3 months (288% average daily change). Earnings have declined by 44% per year over the past 5 years. Market cap is less than US$10m (€8.95m market cap, or US$9.72m). Minor Risk Shareholders have been diluted in the past year (19% increase in shares outstanding). Ankündigung • Oct 24
CuFe Ltd, Annual General Meeting, Nov 29, 2023 CuFe Ltd, Annual General Meeting, Nov 29, 2023, at 10:00 W. Australia Standard Time. Location: 32 Harrogate Street West Leederville, WA 6007 Perth Australia Agenda: To consider and approve the annual financial report of the Company for the financial year ended 30 June 2023 together with the declaration of the Directors, the Director's report, the Remuneration Report and the Auditor's report; to consider and approve the ADOPTION OF REMUNERATION REPORT; and to consider other matters. Reported Earnings • Sep 29
Full year 2023 earnings released: AU$0.011 loss per share (vs AU$0 in FY 2022) Full year 2023 results: AU$0.011 loss per share (further deteriorated from AU$0 in FY 2022). Revenue: AU$35.0m (up 6.1% from FY 2022). Net loss: AU$11.2m (loss widened AU$11.0m from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 106 percentage points per year, which is a significant difference in performance. New Risk • Aug 09
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.1% This is considered a minor 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 Less than 1 year of cash runway based on free cash flow trend (-AU$8.6m free cash flow). Share price has been highly volatile over the past 3 months (547% average daily change). Earnings have declined by 16% per year over the past 5 years. Market cap is less than US$10m (€8.88m market cap, or US$9.75m). Minor Risk Shareholders have been diluted in the past year (3.1% increase in shares outstanding). Ankündigung • Jul 12
CuFe Ltd (ASX:CUF) entered an agreement to acquire exploration tenements in West Arunta Region and in Tambourah Region from North West Iron Pty Ltd and Redstone Metals Pty Ltd. for AUD 0.51 million. CuFe Ltd (ASX:CUF) entered an agreement to acquire exploration tenements in West Arunta Region and in Tambourah Region from North West Iron Pty Ltd and Redstone Metals Pty Ltd. for AUD 0.51 million on July 11, 2023. Consideration for the acquisition is 30 million shares in CuFe, preserving cash for work in the ground. Completion of the transaction is expected occur within 30 days. Reported Earnings • Mar 17
First half 2023 earnings released: AU$0.007 loss per share (vs AU$0 in 1H 2022) First half 2023 results: AU$0.007 loss per share (further deteriorated from AU$0 in 1H 2022). Revenue: AU$16.7m (up 65% from 1H 2022). Net loss: AU$6.98m (loss widened AU$6.94m from 1H 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 130 percentage points per year, which is a significant difference in performance. Ankündigung • Jan 20
CuFe Ltd Provides Update on Activities at its JWD Iron Ore Project CuFe Ltd. provided an update on activities at its JWD iron ore project. The Company holds a 60% interest in the JWD Project via its subsidiary Wiluna Fe Pty Ltd. as operator of the joint venture (JWD JV). Following improvement in iron ore prices (which are up ~ 50% from when mining activity was suspended) the Company has initiated a restart of mining operations at JWD. Product is expected to be ready for haulage to port by the end of the month. As part of underpinning this restart CuFe has commenced building a hedge book to cover future sales. To date positions have been taken, basis March quotation period, with 10,000 tonnes swapped at USD 120.7 and 20,000 DMT of collars entered with a floor price of USD 110DMT and ceiling price of USD 129.5 DMT, basis 62% Fe. Lump premium is additional to this and remains floating at this stage. In addition to planning the restart of mining the JWD site team has continued to recover high grade material from a waste stockpile on site, crushing and screening it for trucking to port. A further 8-10,000 DMT of this material is expected to be loaded next week on a vessel shared with the neighbouring C4 project. That parcel is subject to a swap contract for February at USD116.50 DMT, basis 62% Fe. The Company is also contributing a parcel of 20,000 DMT of fines product to a joint ship with C4, which will load during February. This material is circa 58% Fe and is being sourced from stockpiles which are economic to export presently given the lower freight rates and grade discounts that apply. To assist in funding the working capital associated with the ramp up of activity the Company has negotiated a USD 2 million prepayment facility with its JWD offtake partner Glencore. The key terms of the facility are outlined in Appendix A to this announcement. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. No independent directors (3 non-independent directors). Executive Director Mark Hancock was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. 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. Executive Director Mark Hancock was the last director to join the board, commencing their role in 2019. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. 
