Annuncio • Apr 16
Midas Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 28.000001 million. Midas Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 28.000001 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 37,333,334
Price\Range: AUD 0.75
Discount Per Security: AUD 0.0375
Transaction Features: Subsequent Direct Listing Annuncio • Mar 31
Midas Minerals Limited, Annual General Meeting, May 27, 2026 Midas Minerals Limited, Annual General Meeting, May 27, 2026. New Risk • Mar 28
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$4.9m 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$4.9m free cash flow). Earnings have declined by 37% per year over the past 5 years. Shareholders have been substantially diluted in the past year (64% increase in shares outstanding). Revenue is less than US$1m (AU$186k revenue, or US$128k). New Risk • Mar 23
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$140.4m (US$98.3m) This is considered a minor 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 Earnings have declined by 48% per year over the past 5 years. Shareholders have been substantially diluted in the past year (64% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$140.4m market cap, or US$98.3m). Recent Insider Transactions Derivative • Nov 15
Independent Non-Executive Director exercised options and sold AU$142k worth of stock On the 13th of November, Michael Wilson exercised options to acquire 400k shares at no cost and sold these for an average price of AU$0.35 per share. This trade did not impact their existing holding. Since December 2024, Michael's direct individual holding has increased from 1.50m shares to 1.77m. Company insiders have collectively bought AU$49k more than they sold, via options and on-market transactions, in the last 12 months. Annuncio • Sep 19
Midas Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 11.5 million. Midas Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 11.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 31,026,082
Price\Range: AUD 0.37
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 55,000
Price\Range: AUD 0.37
Transaction Features: Subsequent Direct Listing Annuncio • Jul 16
Midas Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 6.5 million. Midas Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 6.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 31,019,918
Price\Range: AUD 0.15
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 12,313,415
Price\Range: AUD 0.15
Transaction Features: Subsequent Direct Listing New Risk • May 29
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 50% 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 (22% average weekly change). Earnings have declined by 53% per year over the past 5 years. Shareholders have been substantially diluted in the past year (50% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$39.6m market cap, or US$25.5m). Annuncio • May 20
Midas Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 6.5 million. Midas Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 6.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 31,019,918
Price\Range: AUD 0.15
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 12,313,415
Price\Range: AUD 0.15
Transaction Features: Subsequent Direct Listing New Risk • Apr 08
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$16.1m (US$9.75m) 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 (19% average weekly change). Earnings have declined by 53% per year over the past 5 years. Shareholders have been substantially diluted in the past year (43% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$16.1m market cap, or US$9.75m). Annuncio • Mar 26
Midas Minerals Limited, Annual General Meeting, May 26, 2025 Midas Minerals Limited, Annual General Meeting, May 26, 2025. New Risk • Mar 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 19% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 64% per year over the past 5 years. Shareholders have been substantially diluted in the past year (41% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$15.9m market cap, or US$9.90m). New Risk • Jan 17
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 41% 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 Earnings have declined by 64% per year over the past 5 years. Shareholders have been substantially diluted in the past year (41% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$9.16m market cap, or US$5.68m). Annuncio • Jan 16
Midas Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 1.6 million. Midas Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 1.6 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 18,200,000
Price\Range: AUD 0.08
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,800,000
Price\Range: AUD 0.08
Transaction Features: Subsequent Direct Listing Annuncio • Nov 01
Midas Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.6 million. Midas Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.6 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 18,200,000
Price\Range: AUD 0.08
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,800,000
Price\Range: AUD 0.08
Transaction Features: Subsequent Direct Listing Annuncio • Oct 18
Midas Minerals Ltd Appoints Marie Forsyth as Company Secretary Midas Minerals Ltd. announced that Marie Forsyth has been appointed as a Company Secretary effective 18 October 2024, joining existing Company Secretary Ms. Maddison Cramer. Ms. Forsyth is a corporate lawyer with mining and native title legal experience. Marie also holds a metallurgy degree from the Western Australian School of Mines and has practical knowledge in mining operations and metallurgical laboratories across a wide range of mineral commodities. She is currently a company secretary at Riedel Resources Limited and Energy Transition Minerals Ltd. Prior to this, Marie was a solicitor at Steinepreis Paganin Lawyers and Mining Access Legal. Going forward, Ms Forsyth will be jointly responsible for communication with the ASX in relation to listing rule matters, pursuant to ASX Listing Rule 12.6. New Risk • Sep 11
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$3.1m 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$3.1m free cash flow). Earnings have declined by 64% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$6.72m market cap, or US$4.47m). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (19% increase in shares outstanding). New Risk • Jun 25
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 13% 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 Earnings have declined by 42% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$7.73m market cap, or US$5.14m). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (28% increase in shares outstanding). New Risk • Jun 01
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 55% 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 Earnings have declined by 42% per year over the past 5 years. Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$6.70m market cap, or US$4.45m). Annuncio • Apr 24
Midas Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.131665 million. Midas Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.131665 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 14,101,043
Price\Range: AUD 0.07
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,065,600
Price\Range: AUD 0.07
Transaction Features: Subsequent Direct Listing Annuncio • Mar 21
Midas Minerals Limited, Annual General Meeting, May 21, 2024 Midas Minerals Limited, Annual General Meeting, May 21, 2024. Agenda: To consider election and re-election of director. New Risk • Feb 17
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. 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$3.9m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 26% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$7.81m market cap, or US$5.10m). Minor Risk Shareholders have been diluted in the past year (30% increase in shares outstanding). New Risk • Aug 09
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 13% 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$3.5m free cash flow). Earnings have declined by 9.4% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (28% increase in shares outstanding). Market cap is less than US$100m (AU$33.3m market cap, or US$21.8m). Annuncio • Jan 17
Midas Minerals Ltd Announces Lithium-Gold Target Zones over 20Km Strike At Newington, Wa Midas Minerals Ltd. announced assay results for the remaining 1,372 auger geochemical samples taken in late 2022 from its Newington Lithium-Gold Project in WA'sGoldfields region. Geochemical sampling, in conjunction with previously announced geochemical data, rock chip sampling and limited RC drilling, has further defined areas most prospective for lithium, with priority target zones extending over a combined 20km of strike. At least 174 of the recent auger geochemical results are considered anomalous in lithium, caesium, tantalum (LCT) or related indicator elements. Midas is awaiting results for a further 50 pegmatite samples.In results for 76 non-lithium rock chip samples collected during pegmatite prospecting in 2022, a total of 21 samples assayed at greater than 0.1g/t gold and 11 assayed at between 0.5g/t and 7.7g/t gold,. Several groups of undrilled gold-bearing historic workings were discovered southeast ofthe Newfield Mine; Midas will add these targets near historic workings to its priority list of areas for drilling. Annuncio • Dec 15
Midas Minerals Ltd Advises Receiving Initial Surface Geochemical Results from the Lake Seabrook Project Midas Minerals Ltd. advise it has received initial surface geochemical results from the Lake Seabrook Project, 1 located 33km northeast of Southern Cross in WA's Goldfields region. Midas has completed initial auger geochemical sampling to further test areas where prior exploration had indicated anomalous lithium (Li), tantalum (Ta), tin (Sn), caesium (Cs), niobium (Nb), bismuth (Bi) and molybdenum (Mo) were identified in clusters considered to be indicative of the potential for lithium bearing pegmatites. The Company has identified several areas of anomalous Bi-Mo; Sn +/-Li, Nb; and Ta +/- Li, Cs, Sn, indicating fractionation of the granite and pegmatite in these areas. Midas will undertake further mapping and geochemical sampling to define and prioritize potential drill targets. The project comprises two exploration license’s totaling 94.3km2, located about 80km southeast of Midas' Newington Project. The Lake Seabrook Project area is dominated by post-tectonic granite and pegmatite with some remnant rafts of mafic rocks. Annuncio • Nov 16
Midas Minerals Ltd Confirms Lithium in Pegmatite Drilling At Newington Midas Minerals Ltd. announced assay results from initial scout reverse circulation (RC) drilling at its Newington Lithium-Gold Project, north of Southern Cross, in WA's Goldfields region. Midas completed 63 RC holes for 2,980m, with 54 holes intercepting pegmatites; 19 of which were moderately to highly fractionated. This was particularly evident west of the Copperhead Shear, where nine holes were highly fractionated and six were moderately fractionated. Midas is planning more drilling to test these emerging areas of fractionated pegmatites at Newington, which is expected to commence as early as possible during the March Quarter, 2023. Drilling was successful in defining the strike, dip and variability of mineralogy of numerous pegmatites over ~8km strike at Newington. The pegmatites show excellent strike persistence and true widths, mostly ranging from 10m to 30m wide, with gentle (low angle) easterly dips. Logging and analysis of pegmatite intercepts have provided significant clarification on mineralisation and fractionation, including the following observations: Pegmatites at Newington can be classified by (potassium to rubidium) K/Rb 1 ratios and caesium (Cs), lithium (Li), tantalum (Ta), and tin (Sn) grades. West of the Copperhead shear zone, pegmatites exhibit internal zonation and medium to high fractionation with strongly anomalous lithium. To date, the lithium appears to be mostly associated with lepidolite and zinnwaldite (lithium micas). Pegmatite samples collected from east of the Copperhead shear zone were mostly unfractionated to weakly fractionated containing some anomalous Ta, Sn, Cs and bismuth (Bi) but only low lithium grades. This suggests a clear vector west toward increasing Lithium content. Several drill holes completed near Mt Correll returned several narrow, though fractionated, pegmatites containing elevated Ta, Cs, Li. Mt Correll granite intercepted in drilling contained anomalous lithium and low Mg/Li ratios, typical of a fertile granite. Ongoing rock chip sampling (171 new assays) indicates zones of increased fractionation over large areas. Regional auger drilling has discovered numerous unclassified pegmatites with 989 auger samples collected. Assays are pending.Based on revised pegmatite mapping and classification of the fractionation and lithium potential, Midas has refined target areas using the vectors from this work and has submitted a Program of Works for deeper RC drilling to the west and north of areas drilled during this maiden program. Board Change • Nov 16
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 Chairman Sara Kelly was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Oct 25
Midas Minerals Ltd Midas Defines Strong Platinum Group Anomalies At Challa Project, Mt Magnet in Western Australia Midas Minerals Ltd. announced results of ongoing geochemical sampling at its Challa Project, located 70km east of Mt Magnet in Western Australia. Midas' results from 609 composite soil samples from 1,221 sample points has confirmed there are two strongly anomalous, parallel PGE zones each extending for at least 10km strike and likely 15km strike based on prior exploration. Sampling has also identified parallel co-incident gold and copper anomalism. Very limited prior rock chip sampling returned up to 3.45g/t 4PGE from the southern PGE target zone and a copper-silver gossan rock chip from within the northern PGE anomaly, previously reported by Midas, returned 16.1% copper, 566g/t silver, 0.4g/t Au and 0.13g/t 2PGE. Limited prior drilling returned up to 1.63g/t PGE. Prior non-systematic exploration in the 1980s reported anomalous platinum, palladium and rhodium over parts of the very large Windimurra Igneous Complex (WIC) extending over 17km strike. Ongoing exploration by Midas at Challa has identified strong PGE and base metal geochemical anomalies and VTEM geophysical anomalies. Midas is continuing its sampling program and intends to assimilate all the results to define and prioritise drill targets at Challa. Annuncio • Oct 20
Midas Minerals Ltd Appoints Carl Travaglini as Chief Financial Officer Midas Minerals Ltd. announced the appointment of Mr. Carl Travaglini (CA, ACG (CS)) as Chief Financial Officer of the company, effective from October 20, 2022. Mr. Travaglini is a Chartered Accountant and Chartered Company Secretary with over 14 years' experience in the resources sector having served in various finance and company secretarial roles in Australia, Canada and Africa. Before joining the company, Mr. Travaglini worked for and assisted a number of publicly-listed lithium and gold companies through exploration, project development and production phases. Prior to this Mr. Travaglini worked in assurance services for the mining resources sector. Mr. Travaglini brings extensive experience in financial reporting, corporate governance and risk management. Annuncio • Sep 07
Midas Minerals Ltd Defines 8Km of Pegmatites in Drilling At Newington Lithium-Gold Project, WA Midas Minerals Ltd. announced the completion of reverse circulation (RC) drilling at its Newington Lithium-Gold Project, north of Southern Cross, in WA's Goldfields region. Midas completed 63 generally shallow RC holes for 2,980m, and was successful in defining the strike, dip and variability of mineralogy of pegmatites over ~8km strike of the Kawana East prospect. The pegmatites show excellent strike persistence and true widths generally ranging from 10m to 30m, with gentle (low angle) easterly dips. Lithium micas (lepidolite and zinnwaldite) were visually confirmed in several holes, however analysis is required to determine if other lithium silicates, such as spodumene or petalite, are present. Midas has submitted ~800 samples for lithium analysis and ~80 composite samples for gold and nickel analysis. Annuncio • Sep 01
Midas Minerals Ltd Announces Change of Company Secretary Midas Minerals Limited announced the appointment of Ms Maddison Cramer as Company Secretary of Midas, effective 1 September 2022. Ms Cramer is a corporate lawyer with experience in both the listed and unlisted space, advising entities across a variety of different sectors, but with a focus on mining and resources. Ms Cramer is currently Joint Company Secretary of AuTECO Minerals Limited and previously has acted as Joint Company Secretary atASX300 Bellevue Gold Limited. Prior to this, she was an Associate at Bellanhouse Legal and HWL Ebsworth Lawyers. Ms Cramer specialises in corporate and commercial transactions, including capital raisings,IPOs and backdoor listings, and corporate governance issues. Midas advises that Jessamyn Lyons has resigned as Company Secretary effective 1 September 2022. Annuncio • Aug 16
Midas Minerals Ltd Commenced At Its Newington Lithium-Gold Project, North of Southern Cross, in WA's Goldfields Region Midas Minerals Ltd. announced reverse circulation (RC) drilling has commenced at its Newington Lithium-Gold Project, north of Southern Cross, in WA's Goldfields region. The aim of the initial 2,500m program is to obtain an understanding of the variability of pegmatite mineralogy, size and orientation at intervals over about 8km strike of the Kawana East pegmatite belt. Annuncio • Aug 08
Midas Minerals Ltd Announces High-Grade Lithium Results At Midas Newington Project WA Midas Minerals Ltd. announced further results from ongoing mapping and rock chip sampling at its Newington Lithium-Gold Project in WA's Goldfields region. Midas has received assay results for an additional 56 rock chip samples taken over about 10km strike of the Kawana and Mt Correll pegmatite swarms. Of the samples assayed, 33 (approximately 60%), contained anomalous lithium (Li), tantalum (Ta), tin (Sn) or caesium (Cs). Peak values 1 included 3.62% Li2O, 335ppm Ta2O5, 208ppm SnO2 and 0.54% Cs2O from an apparent siliceous lepidolite. Another sample of weathered pegmatite located 460m south returned 1.32% Li2O, showing consistency with prior sampling. Pegmatite mapping and sampling is being ramped up in sub-crop areas and auger drilling is being undertaken on the most prospective soil covered corridors. Midas is preparing reverse circulation (RC) drill sites at intervals over about 8km strike of the Kawana East pegmatite belt. This drilling will assist in obtaining an initial understanding of variability of the orientation, size and mineralogy of the pegmatites. Subject to weather, drilling is expected to commence within two weeks. Annuncio • Jul 29
Midas Minerals Ltd Announces Initial Results of Ongoing Auger Geochemistry At Its Newington Lithium-Gold Project in WA's Goldfields Region Midas Minerals Ltd. announced initial results of ongoing auger geochemistry at its Newington Lithium-Gold Project in WA's Goldfields region. Midas has received assay results for the first 412 auger geochemical samples over a strike of 2km of the Kawana East pegmatite belt which extends for at least 9km. Sampling was undertaken at 40m intervals on lines spaced at 80m. Numerous samples contain elevated lithium (Li), tantalum (Ta), tin (Sn), caesium (Cs), niobium (Nb), beryllium (Be) and rubidium (Rb). Peak values included 495ppm Li2O, 327ppm Ta2O5, 422ppm Nb2O5, 713ppm BeO and 1,126ppm Rb which are exceptionally high for geochemical samples. The numerous anomalous values is due to the large number of small to very large pegmatites and pegmatoid outcrops and logged in shallow auger holes. Midas is preparing reverse circulation (RC) drill sites at intervals over about 8km strike of the Kawana East pegmatite belt to obtain an understanding of variability of the orientation, size and mineralogy of the pegmatites. Drilling is expected to commence in August 2022. Exploration and geological detail: Kawana East Pegmatite Belt: The Kawana area at Newington covers 30km2. Midas' initial systematic work has commenced on the 8km2 eastern pegmatite belt that follows the Copperhead fault over at least 9km strike. The northern section of the belt has been subject to limited LCT geochemistry and resulted in the discovery of significant lithium mineralisation, with rock-chip sample results up to 1.3% Li2O from a highly weathered LCT pegmatite. More recent mapping has identified hundreds of pegmatite outcrops and systematic auger drilling commenced in the south and is working north. To date, Midas has reported assays for 412 auger geochemical samples covering 2km strike on a 40m by 80m grid. Of the 147 samples that were considered anomalous, 38 are considered highly anomalous, 72 were anomalous for multiple elements, whilst 37 were anomalous for a single element. A further 25 samples were anomalous in Be, Nb or Rb and are indicative of less fractionated pegmatites. Sufficient outcrops and geochemical results are at hand to provide focus for Midas' initial drilling at Newington. The aim is to drill 50 RC holes over 8km strike to gain an understanding of the variability of the mineralization and fractionation of the pegmatite belt to locate the areas most prospective for lithium LCT pegmatites. Next steps: Systematic auger geochemistry will continue to follow areas highlighted by ongoing reconnaissance rock chip sampling and mapping. RC drilling is expected to commence in August to provide valuable insight in the subsurface pegmatite mineralogy. Annuncio • Jul 20
Midas Minerals Ltd Announces Results of Reverse Circulation Drilling At Weebo Project in Western Australia's Goldfields Region Midas Minerals Ltd. announced results of reverse circulation drilling at its Weebo Project in Western Australia's Goldfields region. The 24-hole program totaling 4,236m comprised: 16 holes on the Scone Stone and Ockerburry Prospects, located 21-28km along strike and to the north of Northern Star Resources Thunderbox mine. Intercepts at Scone Stone included: 3m @ 15.6g/t gold from 69m, including 1m @ 45.3g/t gold from 69m in hole MDRC0029 9m @ 4.6g/t gold from 64m, including 1m @ 28.2g/t gold from 65m, and 20m @ 0.7g/t gold from 79m in hole MDRC0030. Four exploration holes at the Otto and Otto North prospects located 5-11km north of NST's Otto Bore gold mine. The most significant intercept at the Otto prospect was 6m at 2.4g/t gold from 162m including 1m at 8.6g/t gold from 165m in hole MDRC0044. Midas also completed three holes targeting nickel and one gold exploration hole drilled on the Warrida Well Nickel Prospect. Each of the three nickel exploration holes were terminated prior to target depths. However, two of the holes intercepted ultramafic. The single gold exploration hole intercepted weakly anomalous gold mineralisation. Midas completed downhole electromagnetics on one hole at each of the Scone Stone and Otto prospects. DHEM on hole MDRC0044 at Otto identified an anomaly characteristic of a conductor sitting below the drillhole. Scone Stone Prospect: Initial drilling by Midas in 2021 returned significant gold mineralisation in RC drilling. Follow-up drilling with a deeper penetrating drill rig was therefore warranted. Scone Stone comprises a 1,200m long zone of gold mineralisation that is associated with variable albite, silica and haematite alteration, arsenopyrite and pyrrhotite hosted by faults and breccias within a 200m wide, leucocratic fine grained felsic unit. The strength of alteration and sulphide mineralisation are both highly encouraging with some similarities to the Thunderbox deposit located 27km to the south. Recent drilling comprised nine holes for 1,802m. Three holes returned significant gold intercepts. From the relatively wide-spaced drilling completed to date, it appears a core zone of 300m by 100m contains most of the significant intercepts and represents a resource target. The controls on mineralisation are not currently well understood, however there appears to some degree of supergene enrichment providing enhanced grade and widths of mineralisation within the broader weathering transition zone. Ockerburry Trend Initial drilling by Midas in 2021 returned significant low-grade gold mineralisation in air-core drilling extending for about 4km along the regional Ockerburry shear. Limited deeper RC drilling comprising seven holes for 1,120m has returned similar low-grade mineralisation over down hole intervals ranging from 8m to 22m. Mineralisation is hosted within intensely sheared mafic rocks with silica and hematite alteration with minor quartz veining and sulphides. Further work is warranted to locate, splays to, or dilatational zones within the shear zone that may have focused higher grade gold mineralisation. Otto Prospect Midas completed three RC holes on one section to obtain an understanding of the geology related to a zone of gold mineralisation intercepted by limited prior drilling below 80m of Permian cover. The geology below the Permian cover is dominated by a strongly sheared mafic schist. Hole MDRC0044 intercepted a 13m interval containing quartz veining, haematite alteration and variable pyrite and minor pyrrhotite with a 6m interval averaging 2.4g/t Au. The gold mineralised zone appears to have a westerly or sub-vertical dip. DHEM of hole MDRC044 has identified an anomaly characteristic of a conductor sitting below the drillhole. However, preliminary modelling has not been able to position a conductor model plate or determine its size. Further work is being done on attempting to refine the DHEM models. Warrida Nickel Prospect: Midas attempted three RC holes to test a large prospective ultramafic unit, all three holes were terminated prior to target depth however two intercepted and ended in the ultramafic. The bottom of the deepest hole, MDRC0032, intercepted the upper 77m of the channelised ultramafic flow unit which is estimated to range from 200m to 400m in true width, over 1.7km strike. Hole MDRC0032 returned low nickel values with a 12m interval averaging 0.10% Ni from 115m. Hole MDRC0033 intercepted 18m, 5m and 19m grading 0.16% Ni, 0.16% Ni and 0.14% Ni respectively between surface and 62m within variably weathered ultramafic. Midas completed four lines of moving loop EM over the widest portion of ultramafic unit to supplement a previously acquired dataset. The data is currently being processed. At completion of processing of the MLEM, Midas plans to drill a diamond hole or tail to test the footwall of the ultramafic. NEXT STEPS Midas will undertake further drilling in areas of significant mineralisation at the Scone and Otto prospects, as well as initial drilling of several of the strongest gold geochemical anomalies identified in early 2022. After recent MLEM data from Warrida and Try Again Bore ultramafic targets is modelled, Midas will plan core drilling, including one hole at Try Again, to be completed as part of the WA State Government's Exploration Incentive Scheme co-funding agreement. Annuncio • Jul 03
Midas Minerals Ltd Announces Board Changes Midas Minerals Ltd. appointed Mark Calderwood as director effective 1 July 2022. 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. Non-Executive Director Mick Wilson 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. Annuncio • Apr 07
Midas Minerals Limited, Annual General Meeting, May 30, 2022 Midas Minerals Limited, Annual General Meeting, May 30, 2022. Annuncio • Mar 23
Midas Minerals Limited Recommences Gold and Nickel Drilling At Weebo Midas Minerals Ltd. announced the commencement of deeper RC drilling at its Weebo Project (Weebo) in Western Australia's Goldfields region. Drilling will test gold mineralisation at depth on the Scone Stone and Ockerburry Prospects, located 21-28km along strike and to the north of Northern Star Resources' Thunderbox mine, and the Otto Prospect located 5km north of NST's Otto Bore gold deposit. Initial 2021 drilling returned significant gold mineralisation in the air-core and shallow RC drilling. Midas has planned 20 RC holes to test this gold mineralisation. In addition, the Company will drill four holes into the Warrida Well Nickel Prospect comprising strong geochemical and geophysical anomalies over a prospective ultramafic unit. Midas plans to case these initial holes to allow for downhole electromagnetics. A geophysical method that has a proven track record for vectoring toward nickel-bearing sulphide accumulations. Midas expects the first assay results from the Weebo drill program in the June 2022 quarter. Annuncio • Feb 08
Midas Minerals Limited Announces Airborne EM Survey Confirms High Priority Targets At Challa Midas Minerals Ltd. announced geophysical consultant Resource Potentials has completed an assessment of helicopter-borne VTEMTM Max electromagnetic survey data acquired over Midas' Challa Project near Mt Magnet WA in December 2021. The VTEM survey area at Challa covered 136km2 at 200m line spacing. A further 70 line km of infill lines at 100m line spacing was also flown over areas of strong interest. The VTEM survey covered a portion of the northern section of a giant mafic-ultramafic layered intrusion known as the Windimurra Igneous Complex. The survey aimed to identify bedrock conductors that may relate to intrusion related massive sulphide mineralised bodies with the potential to host Ni-Cu-Co-PGE mineralisation. Known sulphide gossan occurrences have been identified in this part of the WIC and often contain anomalous to high grades of base metals and/or precious metals. Analysis of the preliminary VTEM data has identified at least 34 higher priority conductive anomalies occurring as discrete or clusters of mid to late-time responses forming bedrock targets. Some VTEM targets are considered drill ready, and others require ground-based electromagnetic (EM) surveys to refine and define their precise orientation prior to drilling using reverse circulation (RC) or diamond drilling methods. Geophysical consultants Resource Potentials has reviewed the 800 line kilometres of preliminary VTEMTM-Max data and has selected and ranked a large number of bedrock EM anomalies, where the strongest anomalies occur within several clusters to form target areas. The JBE VTEM anomaly cluster contains 15 subtle to strong late-time conductors extending over a strike of 2.7km. Field checking confirmed that the strongest anomalies follow a zone of sub-cropping gabbro sequence (high-MgO content). The JBE cluster is a priority as it includes roughly half of the high ranked VTEM anomalies from the survey. The area has essentially had no prior exploration before the VTEM survey. The JBW VTEM anomaly cluster comprises eight medium ranked mid to late time conductors extending over 2.2km. The lithology in the area comprises a gabbro cumulate sequence. A single historic diamond drill hole intercepted lead-zinc sulphides within a shear zone nearby. The WE VTEM anomaly cluster comprises 14 early to late time conductors over 3.9km. The target area comprises mafic gabbro to ultramafic anorthosite cumulates. Limited historic geochemistry and drilling returned strongly anomalous palladium and platinum in this area. Rock-chip sampling of a small gossan outcrop contained high-grade copper-silver-gold mineralisation and likely represents a structurally controlled sulphide occurrence. The KL VTEM anomaly cluster comprises 16 early to late time conductors identified within a 2.5km radius of the Killarney gold workings. The area is complex geologically and structurally, a number of copper-gold and arsenic-gold gossanous quartz veins and shears have been mined. The most prospective areas are mostly soil covered and initial auger geochemistry results covering the VTEM target area are pending. Midas has identified another 27 VTEM conductor anomalies that justify further assessment, including mapping, geochemistry or ground EM follow up. Assays for Midas' 3,000 auger hole geochemical survey are pending with results expected this month. It is proposed to infill and extend the geochemical survey areas to include these areas returning VTEM anomalies. Midas is also planning ground EM surveying to refine the VTEM anomalous areas, and aims to work up and prioritise several drill targets, testing geochemical and/or geophysical targets with RC drilling as soon as possible. Annuncio • Jan 25
Midas Minerals Limited Announces Gold and Nickel Drill Targets Defined At Weebo Gold Project Midas Minerals Limited announced it has received remaining assay results from its auger geochemical sampling completed in October 2021 and aircore (AC) and reverse circulation (RC) drilling program, completed in November 2021, at its Weebo Gold Project (Weebo) in the Goldfields region of Western Australia. Midas' program was successful in delineating significant gold mineralisation in several areas, all at shallow depths, including previously and current reported intercepts of: Scone Stone Prospect2: 6m @ 1.3g/t gold from 11m and 6m @ 4.4g/t gold from 54m, 3m @ 6.7g/t gold from 43m including 1m @ 18.2g/t gold from 44m and 7m @ 0.7g/t gold from 87m and 29m @ 1.1g/t gold from 98m including 16m @ 1.7g/t gold from 108m. Ockerburry 1 Prospect2: 32m @ 0.7g/t gold from 40m including 6m @ 1.5g/t gold and 14m @ 0.7g/t gold from 52m. 4m @ 0.9g/t gold from 46m and 28m @ 0.6g/t gold from 66m, including 2m @ 3.1g/t gold from 66 and 3m @ 1.5g/t gold from 81m. 2m @ 18.4g/t gold from 8m. 6m @ 0.6g/t gold from 33m and 7m @ 0.9g/t gold from 45m. 4m @ 0.6g/t gold from 44m and 10m @ 0.8g/t gold from 70m including 1m @ 4.7g/t gold from 76m. Otto Prospect: 6m at 0.7g/t gold from MDRC0021 - which only penetrated 11m of basement through transported cover. Geochemical Sampling Wheel of Fortune: Midas has received assays for an additional 477 auger geochemical drill holes completed in the Wheel of Fortune area, selected for sampling based on the existence of historic gold workings and a lack of prior exploration. The shallow auger drilling, totalling 881 samples, completed on a nominal 200m by 20m grid was successful in defining strong gold anomalism proximal to and along strike of areas containing historic gold workings. Limited rock chip sampling by Midas also returned significant gold results from several gold workings including 24.0g/t gold, 21.7g/t gold and 3.25g/t gold. The strong gold anomalism and the lack of prior exploration highlights the potential of the 2.4 km of strike, between the Wheel of Fortune South and Wheel of Fortune gold deposits. Geochemical Sampling Sir Samuel: Midas has received assay results for all 1,374 shallow auger drill holes completed on the Sir Samuel Prospect soil grids sampled in the September quarter 2021. The two areas were selected based on gold mineralisation intercepted in very wide-spaced prior RAB drilling completed on an 800m by 100m grid, and coincident lithological/structural targets identified from geophysics. The shallow auger geochemical drilling completed on 200m by 20m and 200m by 40m grids was generally successful in penetrating transported cover or residual regolith with an estimated 90% of samples from insitu clays or saprock. The auger geochemistry assay results have enabled the interpretation of relatively coherent and robust gold anomalies that now represent excellent priority drill targets. Auger drilling has successfully refined the previously poorly defined 1.7km long ultramafic channelised flow unit, which is up to 400m wide, and where multiple A-B flows within the sequence are characterised by important lithological features including ortho-cumulate bases and well-developed spinifex textured flow tops. Prior limited exploration identified a main cut down channel with an apparent strike of at least 500m. This is now a priority nickel-sulphide drill target. Auger drilling and recent geophysics has also successfully extended the ultramafic to a strike of at least 2.6km within the Weebo project. Auger drilling has identified at least two trends of elevated Ni, Cr, PGE and Cu, including one at the base of the overturned south-east plunging channel sequence. Highly anomalous PGE associated with moderately anomalous Mg, Ni and Cu has been defined in a zone parallel to gold anomaly SS3. Platinoids are important pathfinders for the Waterloo deposit located 17km along strike to the south, and in other deposits in the region. Midas has identified a compilation of early and advanced stage gold and nickel drill targets on the Weebo project. The Company is planning a program to follow up the three more advanced gold prospects, Scone Stone, Ockerburry and Otto with a larger capacity RC drill rig, capable of penetrating deeper into bedrock. The Company is also planning to drill additional gold and nickel targets generated from recent geochemical and geophysical surveys. Annuncio • Dec 23
Midas Minerals Limited Drilling At Weebo Returns Shallow High-Grade Gold Midas Minerals Limited announced it has received extensive gold mineralisation including shallow, high-grade gold results from initial assays from its maiden drill programs, completed in November 2021, at the Weebo Gold Project (Weebo) in the Goldfields region of Western Australia. Drilling was focused on gold mineralisation at the Ockerburry, Scone Stone and Otto prospects, testing prospects located along strike and proximal to Northern Star Resources Thunderbox mine and Otto Bore gold deposit. Midas completed 103 AC drill holes totalling 8,237 metres and 22 RC holes totalling 2,559m metres on 30 wide-spaced drill traverses over a total of approximately 7km of strike. The program was completed on time and on budget. Prior drilling1 by previous explorers, mostly completed between 1994 and 2002, predominantly comprised reconnaissance rotary air blast (RAB) and AC drilling and successfully defined anomalous gold mineralisation along significant regional shear zones. Prior RC drilling only amounted to four holes at Ockerburry, 27 holes at Scone Stone and eight holes at Otto prospects. Midas' program was designed to locate areas that demonstrated favourable geological settings, alteration and pervasive anomalous gold mineralisation. Despite ground conditions, the program successfully confirmed that all three areas meet the targeted criteria and remain highly prospective. The program provides Midas with confidence to pinpoint the position, target high-grade zones and vector from associated alteration of prospects, which essentially have had no drilling in the past 20 years. Annuncio • Nov 29
Midas Minerals Limited Completes Drilling At Weebo & Sunset Midas Minerals Ltd. announced it has completed its maiden drill program at Weebo and Sunset projects in the Goldfields region of Western Australia. A total of 172 AC/RC holes for 11,902m were completed on the Weebo and Sunset gold projects. A planned Heli-EM survey (VTEM) at Midas' Challa Project prospective for Gold, Nickel, Copper and PGE is expected to commence in the first week of December 2021. Midas commenced drilling on the Weebo Project at the Ockerburry, Scone Stone, and Otto prospects in late September, testing prospects located along strike and proximal to Northern Star Resources Thunderbox mine and Otto Bore gold deposit. Midas completed a drill program consisting of 103 AC holes totaling 8,237m and 22 RC holes totaling 2,559m. All drill samples have been dispatched to the laboratory for assay and the Company expects results to be returned before the end of the year. A significant number of geochemical samples from programs completed to date are also pending, with those results expected in 4-6 weeks. Sunset is a 1.2km2 lease that hosts historical gold mines and is prospective for intrusion related gold mineralisation. Sunset is located 10km east of the WA Goldfields town of Leonora. Between 1897 and 1906, the mines reportedly produced 690oz of gold from 650 tonnes of material mined. It's unusual setting (hosted in a granitoid intrusive) contains numerous gold mineralised shears and vein sets. Following completion of RC drilling at Weebo, Midas moved the rig to its Sunset Project to drill test this target for the first ever time on record, completing 47 RC holes totaling 1,106m. All samples have been dispatched to the laboratory for assay and the Company expects assays to be returned before the end of the year. Midas has secured access to a helicopter-supported EM survey, the VTEM Max system, for a survey over the northern section of the Challa Project, covering a portion of the giant mafic-ultramafic layered intrusion known as the Windimurra Igneous Complex (WIC)1. The WIC is a geological feature that has the potential to host gold, nickel, copper, and PGE mineralisation. The survey is being undertaken to identify bedrock conductors and offers depth penetration which is a proven modern exploration tool for discovering precious and base metal-rich massive sulphide deposits. The survey is planned to cover an approximate 133km2 portion of the WIC at notionally 200m line spacing, and it is expected to commence in the first week of December with preliminary results expected during the current quarter. To date 2,900 geochemical auger holes were completed, and samples have been submitted for laboratory analysis with results expected in 4-6 weeks. Annuncio • Sep 15
Midas Minerals Limited Announces Drilling to Commence at Weebo Midas Minerals Limited provided an update on its exploration activities across its portfolio of gold and base metal projects in the Goldfields region of Western Australia. Midas will commence AC and RC drilling at its Weebo Gold Project in the coming weeks, targeting gold mineralisation at the Ockerburry, Scone Stone and Otto Prospects, which have been broadly delineated by prior drilling from previous explorers. The Company has also commenced Auger drilling at the Challa Gold, Nickel-Copper-PGE Project to define targets for drill testing in early 2022. Midas has completed gravity (5,675 stations) and airborne magnetic (1,173 line km) surveys at Weebo to supplement acquired open file and multiclient data and the high-quality merged datasets, which have been processed by Geophysics contractor Resource Potentials Pty Ltd. A structural interpretation is currently underway and early review of this data has assisted the Company in locating major shears extending north from Thunderbox-Otto Bore and additional oblique structures, both of which are considered very prospective for gold enrichment. The surveys have also been successful in delineating an additional 16km strike of the Waterloo - Valdez ultramafic stratigraphy extending north from the high-grade Waterloo-Amorac nickel deposits. Waterloo-Amorac was discovered in 2002 as the first significant nickel deposit east of the Perseverance fault, in the Leinster area. Midas has commenced close-spaced Auger drilling in several areas containing gold or nickel mineralisation, with six target areas selected based on limited, but successful, prior exploration. Midas has submitted more than 1200 samples for multi-element analysis to the Laboratory, with initial results expected in mid Fourth Quarter 2021. Midas has planned 120 AC and RC holes targeting gold mineralisation on the Ockerburry, Scone Stone and Otto Prospects, which were broadly delineated by prior Rotary Air Blast (RAB) /AC and limited RC drilling. Drilling is expected to commence in the coming weeks and will assist in confirming the location and tenor of gold mineralisation, particularly in poorly-tested fresh rock. The planned drilling will be undertaken on 30 traverses, with a minimum 160m spaced drill lines over a total of about 7km strike. In June, the Company booked a Helicopter supported EM survey, the VTEM Max system for the north-eastern section of the Company's tenure over the giant mafic-ultramafic layered intrusion known as the Windimurra Igneous Complex (WIC). A geological feature that hosts Mídas' Challa Gold, Nickel-Copper-PGE project. The survey is planned to cover an approximate 133km2 portion of the WIC at 200. Line spacing and is planned to commence in late October or early November 2021. The area has been selected to target: Structurally controlled sulphide Cu-Ag-Au mineralisation (John Bore South); Structurally controlled sulphide Au-Cu, Au-As mineralisation (Killarney); Reef-style PGE sulphide or chromite mineralisation (Wondinong-Killarney); Reef-style or fault breccia hosted Ni-Cu-PGE sulphides (Entire survey area); Structurally controlled Pb-Zn mineralisation (John Bore). Auger drilling has commenced on areas with shallow cover in the Wondinong-Killarney area. An initial program of 2,500 holes is planned, with the intention to infill and extend the program where initial results identify targeted metal anomalism. Approximately 1,200 holes have been completed to date. Midas plans to secure a drilling contractors service for First Quarter 2022, in anticipation of testing bedrock mineralisation associated with geochemical and geophysical anomalies defined over the next three months. Midas has successfully secured the technical services of Industry Professional Mr. Mark Calderwood to lead exploration of mineral assets and assess opportunities for the company's growth. Board Change • Sep 07
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. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Chairman Mark Calderwood was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. 
