Annonce • Dec 22
SunMirror AG, Annual General Meeting, Dec 20, 2023 SunMirror AG, Annual General Meeting, Dec 20, 2023. Agenda: To consider report, the annual financial statements and the consolidated financial statements for the financial year from July 1, 2022 - June 30, 2023, as well as the carrying forward of the net annual loss to the new account; to consider and approve the proposed compensation of the Board of Directors and the Executive Board, and the compensation report for the financial year from July 1, 2022 - June 30, 2023; and to transact such other business matters. Annonce • Oct 06
Sunmirror Ag Provides Exploration Update - Moolyella and Kingston Keith Exploration Licences SunMirror AG provided further news on its exploration activities in Western Australia. Moolyella E 45/5573 - licence area 92 km2: Just under 3,500 soil samples collected in the month of June-July by Terra Search Pty Ltd. All samples sent off for geochemical analysis at Nagrom Labs with lithium in soil grades returned ranging up to 460 ppm (parts per million) lithium (Li) with the mean at 107 ppm and the standard deviation at 60 ppm. Follow up field visit scheduled for the second week of October to 'ground truth' these high-grade zones with the intention of identifying suitable sites for drilling. Proposed drill hole locations will subsequently be reviewed during a Heritage site visit prior to a submission to the authorities of a Plan of Work (POW) consisting of up to 5,000 metres of reverse circulation (RC) drilling scheduled for second quarter of 2024. Kingston Keith E 53/1953 - licence area 152 km2: Structural study completed by Southern Geoscience Consultants focused on identifying key structural, lithological and alteration features that could represent prospective lithium and gold targets within the licence area. Geological database over the entire licence area purchased from SensOre (a specialist minerals targeting company optimising discoveries through AI-enhance exploration) including a proprietary Artificial Intelligence (AI) Lithium Fertility Index study, which identified 3 'fertility' target areas within the middle part of the licence. The soil sampling campaign recently undertaken at Moolyella licence in June/July 2023 by Terra Search Pty Ltd., took full advantage of the insight provided by SGC's lithostructural study, which itself was enhanced by reprocessing the original MagSpec aeromagnetic and radiometric data collected earlier in the year. These results lay the foundations for a reverse-circulation drill program of up to 5,000 meters, which anticipate starting sometime in second quarter of 2024. As a next step will consult with the local Nyamal Aboriginal Corporation to take on board any 'heritage' consideration prior to confirming exact drill locations for Plan of Work (POW). A lithostructural study of the aeromagnetic results was then completed by Southern Geoscience consultants ("SGC", a specialist group of geoscientists focused on providing the higher quality integrated geophysical solutions to the resource industry) in May 2023, followed by the soil sampling campaign that is the subject of this current release. Current Update - Moolyella exploration licence (E 45/5573) (92 km2) These targets will be the subject of a preliminary drill program, the first step towards defining a potential inferred resource on the property. Of the 3252 soil samples collected and analysed, 533 samples reported values greater than 167 ppm lithium (the mean + 1 standard deviation) and out of these 148 samples reported values greater than 227 ppm (the mean + 2 standard deviation) as per below: The location of these sample areas reporting lithium values > 167 ppm will be where the Company plans to carry out its first drill program (currently scheduled to start sometime in second quarter of 2024). The proposed drill hole locations will, however, be 'ground truthed' during a field visit in October 2023 to ensure they are not located in any 'heritage' or 'environmentally sensitive' areas before a Plan of Work (consisting of a drill program of up to 5.000 metres of reverse-circulation drilling) is submitted to the Western Australia Department of Mines. Once a JORC (Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves 'the JORC Code' is a professional code of practice that sets minimum standards for Public Reporting of minerals Exploration Results, Mineral Resources and ore Reserves) compliant resource has been modelled, a detailed Feasibility Study would follow to determine the economic viability to establishing a mining operation (or not). This study has now been completed and the results reviewed along with licence-wide historical exploration data (compcompcompared to be reviewed along with licence-wide Historical exploration data (composed drill hole locations) consisting of up to 3,000 metres) drilling scheduled for the second week of the first quarter of 2024. New Risk • Aug 30
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended June 2022. This is considered a major 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. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported June 2022 fiscal period end). Share price has been highly volatile over the past 3 months (40% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (€7.38m market cap, or US$8.06m). New Risk • Jul 14
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.83m (US$9.93m) 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 Share price has been highly volatile over the past 3 months (45% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (€8.83m market cap, or US$9.93m). Minor Risks Latest financial reports are more than 6 months old (reported June 2022 fiscal period end). Shareholders have been diluted in the past year (17% increase in shares outstanding). Breakeven Date Change • Dec 30
Forecast to breakeven in 2025 The 2 analysts covering SunMirror expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 51% per year to 2024. The company is expected to make a profit of US$1.29m in 2025. Average annual earnings growth of 77% is required to achieve expected profit on schedule. Price Target Changed • Nov 17
Price target decreased to €87.70 Down from €150, the current price target is provided by 1 analyst. New target price is 1,988% above last closing price of €4.20. Stock is down 97% over the past year. The company posted a net loss per share of US$1.83 last year. Board Change • Nov 17
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. Director Laurent Quelin was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Jul 06
Price target decreased to €87.70 Down from €156, the current price target is an average from 2 analysts. New target price is 518% above last closing price of €14.20. Stock is down 90% over the past year. The company posted a net loss per share of US$1.83 last year. Breakeven Date Change • May 20
Forecast breakeven date pushed back to 2024 The 2 analysts covering SunMirror previously expected the company to break even in 2023. New consensus forecast suggests losses will reduce by 29% per year to 2023. The company is expected to make a profit of US$5.49m in 2024. Average annual earnings growth of 65% is required to achieve expected profit on schedule. Price Target Changed • Apr 27
Price target increased to €195 Up from €174, the current price target is provided by 1 analyst. New target price is 64% above last closing price of €119. Stock is down 25% over the past year. The company is forecast to post a net loss per share of US$5.68 next year compared to a net loss per share of US$1.83 last year. 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. 4 non-independent directors. Chairman & CEO Heinz Kubli 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. Is New 90 Day High Low • Feb 05
New 90-day high: €120 The company is up 67% from its price of €72.00 on 06 November 2020. The German market is up 14% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Metals and Mining industry, which is also up 67% over the same period. Is New 90 Day High Low • Jan 04
New 90-day high: €110 The company is up 61% from its price of €68.50 on 06 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 45% over the same period.