Mont Royal Resources (MRZ) 주식 개요Mont Royal Resources Limited는 캐나다에서 광물 자산 개발 및 탐사 사업을 하고 있습니다. 자세히 보기MRZ 펀더멘털 분석스노우플레이크 점수가치 평가2/6미래 성장0/6과거 실적0/6재무 건전성5/6배당0/6위험 분석지난 5년간 매년 수익이 56.8% 감소했습니다.수익이 USD$1m 미만입니다(A$37K)cash runway 경력이 1년 미만입니다.의미 있는 시가총액이 없습니다(A$39M)모든 위험 점검 보기MRZ Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair ValueAU$Current PriceAU$0.204.0k% 고평가 내재 할인율Est. Revenue$PastFuture-33m2m2016201920222025202620282031Revenue AU$403.3kEarnings AU$54.1kAdvancedSet Fair ValueView all narrativesMont Royal Resources Limited 경쟁사Everest MetalsSymbol: ASX:EMCMarket cap: AU$28.3mHaranga ResourcesSymbol: ASX:HARMarket cap: AU$49.0mEV ResourcesSymbol: ASX:EVRMarket cap: AU$24.3mVital MetalsSymbol: ASX:VMLMarket cap: AU$34.7m가격 이력 및 성과Mont Royal Resources 주가의 최고가, 최저가 및 변동 요약과거 주가현재 주가AU$0.2052주 최고가AU$0.4052주 최저가AU$0.15베타01개월 변동7.89%3개월 변동10.81%1년 변동n/a3년 변동n/a5년 변동n/aIPO 이후 변동400.00%최근 뉴스 및 업데이트New Risk • Mar 15New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$6.6m 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$6.6m free cash flow). Earnings have declined by 57% per year over the past 5 years. Revenue is less than US$1m (AU$37k revenue, or US$26k). Minor Risk Market cap is less than US$100m (AU$40.4m market cap, or US$28.3m).공시 • Nov 14Mont Royal Outlines Multi-Pronged Work Program Following Successful ASX Re-listingMont Royal shares re-commenced trading on 5th November following the Company's transformational merger with TSXV-listed Commerce Resources. Mont Royal is focused on advancing the 100%-owned Ashram Rare Earth and Fluorspar Deposit in Quebec, Canada. Ashram is one of the largest monazite-dominant carbonatite-hosted Rare Earth Elements ("REE") deposits in North America, with a Tier-1 NI 43-101 Mineral Resource comprising: Indicated: 73.2Mt @ 1.89% Total Rare Earth Oxide (TREO) & 6.6% Fluorspar (CaF2). Inferred: 131.1Mt @ 1.91% TREO & 4.0% CaF2. Ashram is an advanced, large-scale asset with significant development work already completed and over AUD 50 million invested historically. The merger with Commerce Resources has created a dual-listed, Canadian-focused critical minerals developer focused on unlocking the significant value of the Ashram Project. The Ashram Project is one of the largest undeveloped monazite-hosted rare earth deposits in North America, offering a unique opportunity to advance a new, large-scale source of critical rare earth supply at a time of growing Western demand and strategic focus on supply chain independence. Near-term Objectives and Key Value Drivers for CY 2025/2026. Road Access and engagement with Provincial and Federal Government: Mont Royal continues to work closely with Provincial and Federal Government Governments and their agencies to secure infrastructure support for an access road commitment for the Ashram Project. A recently completed road option study by Mont Royal has identified three potential access routes. This document is now complete and will shortly be tabled to form the basis of ongoing discussions with local indigenous groups and communities along with Provincial and Federal Government groups and agencies. When an optimal route is selected, additional and ongoing design work will be supported by a recent $2.6 million road research grant from Natural Resources Canada. Collaboration with Key Stakeholder/First Nations groups in the Nunavik region. Metallurgical Test work: Metallurgical test work and optimisation programs are scheduled to re-commence shortly. A significant amount of work on the flowsheet has already been completed in recent years achieving good recoveries for both the monazite concentrate generated via flotation and the Mixed Rare Earth Oxide (MREO) product generated at the following hydrometallurgical (sulphation bake) stage. This new work program intends to leverage off the previous work and continue to optimise flowsheets in preparation for the upcoming Pre-Feasibility programme, scheduled to start in second half 2026. Flotation Concentrate: A one-tonne bulk sample has been flown to Perth, Western Australia for additional flotation test work at Auralia labs. The test work is expected to yield around 30kg of monazite and fluorspar flotation concentrates and builds on the excellent work completed to date at SGS Lakefield. The additional work will look to: Build on and potentially improve the current flotation kinetics for REE flotation in the concentrate flowsheet; and Further develop the current Fluorspar flowsheet with the initial aim of producing a metallurgical-grade fluorspar concentrate (+60% CaF2) for potential incorporation into the initial Stage 1 development flowsheet. Hydrometallurgical (Sulphation bake) A small sample of existing flotation concentrate will be sent to ANSTO labs in Sydney, New South Wales for hydrometallurgical sighter test work. In addition to improving standard flowsheet results, work will also commence with emerging and alternative downstream processing technology groups. If successful, these alternative processing technologies could potentially replace the existing hydrometallurgical flowsheet. A small portion of flotation concentrate will be set aside for two separate technology groups for test work programs with results due in the first half of 2026.분석 기사 • Nov 12Here's Why Mont Royal Resources (ASX:MRZ) Can Afford Some DebtLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Board Change • Nov 06Less than half of directors are independentThere are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. 1 independent director (4 non-independent directors). Chairman Ian Graham is the most experienced director on the board, commencing their role in 2009. Independent Director Adam Ritchie was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors.더 많은 업데이트 보기Recent updatesNew Risk • Mar 15New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$6.6m 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$6.6m free cash flow). Earnings have declined by 57% per year over the past 5 years. Revenue is less than US$1m (AU$37k revenue, or US$26k). Minor Risk Market cap is less than US$100m (AU$40.4m market cap, or US$28.3m).공시 • Nov 14Mont Royal Outlines Multi-Pronged Work Program Following Successful ASX Re-listingMont Royal shares re-commenced trading on 5th November following the Company's transformational merger with TSXV-listed Commerce Resources. Mont Royal is focused on advancing the 100%-owned Ashram Rare Earth and Fluorspar Deposit in Quebec, Canada. Ashram is one of the largest monazite-dominant carbonatite-hosted Rare Earth Elements ("REE") deposits in North America, with a Tier-1 NI 43-101 Mineral Resource comprising: Indicated: 73.2Mt @ 1.89% Total Rare Earth Oxide (TREO) & 6.6% Fluorspar (CaF2). Inferred: 131.1Mt @ 1.91% TREO & 4.0% CaF2. Ashram is an advanced, large-scale asset with significant development work already completed and over AUD 50 million invested historically. The merger with Commerce Resources has created a dual-listed, Canadian-focused critical minerals developer focused on unlocking the significant value of the Ashram Project. The Ashram Project is one of the largest undeveloped monazite-hosted rare earth deposits in North America, offering a unique opportunity to advance a new, large-scale source of critical rare earth supply at a time of growing Western demand and strategic focus on supply chain independence. Near-term Objectives and Key Value Drivers for CY 2025/2026. Road Access and engagement with Provincial and Federal Government: Mont Royal continues to work closely with Provincial and Federal Government Governments and their agencies to secure infrastructure support for an access road commitment for the Ashram Project. A recently completed road option study by Mont Royal has identified three potential access routes. This document is now complete and will shortly be tabled to form the basis of ongoing discussions with local indigenous groups and communities along with Provincial and Federal Government groups and agencies. When an optimal route is selected, additional and ongoing design work will be supported by a recent $2.6 million road research grant from Natural Resources Canada. Collaboration with Key Stakeholder/First Nations groups in the Nunavik region. Metallurgical Test work: Metallurgical test work and optimisation programs are scheduled to re-commence shortly. A significant amount of work on the flowsheet has already been completed in recent years achieving good recoveries for both the monazite concentrate generated via flotation and the Mixed Rare Earth Oxide (MREO) product generated at the following hydrometallurgical (sulphation bake) stage. This new work program intends to leverage off the previous work and continue to optimise flowsheets in preparation for the upcoming Pre-Feasibility programme, scheduled to start in second half 2026. Flotation Concentrate: A one-tonne bulk sample has been flown to Perth, Western Australia for additional flotation test work at Auralia labs. The test work is expected to yield around 30kg of monazite and fluorspar flotation concentrates and builds on the excellent work completed to date at SGS Lakefield. The additional work will look to: Build on and potentially improve the current flotation kinetics for REE flotation in the concentrate flowsheet; and Further develop the current Fluorspar flowsheet with the initial aim of producing a metallurgical-grade fluorspar concentrate (+60% CaF2) for potential incorporation into the initial Stage 1 development flowsheet. Hydrometallurgical (Sulphation bake) A small sample of existing flotation concentrate will be sent to ANSTO labs in Sydney, New South Wales for hydrometallurgical sighter test work. In addition to improving standard flowsheet results, work will also commence with emerging and alternative downstream processing technology groups. If successful, these alternative processing technologies could potentially replace the existing hydrometallurgical flowsheet. A small portion of flotation concentrate will be set aside for two separate technology groups for test work programs with results due in the first half of 2026.분석 기사 • Nov 12Here's Why Mont Royal Resources (ASX:MRZ) Can Afford Some DebtLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Board Change • Nov 06Less than half of directors are independentThere are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. 1 independent director (4 non-independent directors). Chairman Ian Graham is the most experienced director on the board, commencing their role in 2009. Independent Director Adam Ritchie was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors.주주 수익률MRZAU Metals and MiningAU 시장7D-2.4%-5.9%-0.4%1Yn/a51.6%2.9%전체 주주 수익률 보기수익률 대 산업: MRZ의 Australian Metals and Mining 산업 대비 성과를 판단하기에 데이터가 부족합니다.수익률 대 시장: MRZ의 Australian 시장 대비 성과를 판단하기에 데이터가 부족합니다.주가 변동성Is MRZ's price volatile compared to industry and market?MRZ volatilityMRZ Average Weekly Movement11.1%Metals and Mining Industry Average Movement12.2%Market Average Movement10.5%10% most volatile stocks in AU Market17.5%10% least volatile stocks in AU Market4.4%안정적인 주가: MRZ는 지난 3개월 동안 Australian 시장에 비해 주가 변동성이 크지 않았습니다.시간에 따른 변동성: MRZ의 주간 변동성(11%)은 지난 1년 동안 안정적이었습니다.회사 소개설립직원 수CEO웹사이트n/an/aNick Holthousewww.montroyalres.com몽 로얄 리소스는 캐나다에서 광물 자산을 개발 및 탐사하는 회사입니다. 주요 자산으로는 캐나다 퀘벡에 위치한 아슈람 희토류 및 형석 광산의 지분 100%가 있습니다. 몽 로얄 리소스는 호주 시드니에 본사를 두고 있습니다.더 보기Mont Royal Resources Limited 기초 지표 요약Mont Royal Resources의 순이익과 매출은 시가총액과 어떻게 비교됩니까?MRZ 기초 통계시가총액AU$39.46m순이익 (TTM)-AU$6.78m매출 (TTM)AU$36.70k1,075x주가매출비율(P/S)-5.8x주가수익비율(P/E)MRZ는 고평가되어 있습니까?공정 가치 및 평가 분석 보기순이익 및 매출최근 실적 보고서(TTM)의 주요 수익성 지표MRZ 손익계산서 (TTM)매출AU$36.70k매출원가AU$0총이익AU$36.70k기타 비용AU$6.82m순이익-AU$6.78m최근 보고된 실적Jan 31, 2026다음 실적 발표일해당 없음주당순이익(EPS)-0.035총이익률100.00%순이익률-18,478.29%부채/자본 비율0%MRZ의 장기 실적은 어땠습니까?과거 실적 및 비교 보기View Valuation기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/22 03:45종가2026/05/22 00:00수익2026/01/31연간 수익2025/10/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Mont Royal Resources Limited는 1명의 분석가가 다루고 있습니다. 이 중 0명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Siddharth RajeevFundamental Research Corp.
New Risk • Mar 15New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$6.6m 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$6.6m free cash flow). Earnings have declined by 57% per year over the past 5 years. Revenue is less than US$1m (AU$37k revenue, or US$26k). Minor Risk Market cap is less than US$100m (AU$40.4m market cap, or US$28.3m).
공시 • Nov 14Mont Royal Outlines Multi-Pronged Work Program Following Successful ASX Re-listingMont Royal shares re-commenced trading on 5th November following the Company's transformational merger with TSXV-listed Commerce Resources. Mont Royal is focused on advancing the 100%-owned Ashram Rare Earth and Fluorspar Deposit in Quebec, Canada. Ashram is one of the largest monazite-dominant carbonatite-hosted Rare Earth Elements ("REE") deposits in North America, with a Tier-1 NI 43-101 Mineral Resource comprising: Indicated: 73.2Mt @ 1.89% Total Rare Earth Oxide (TREO) & 6.6% Fluorspar (CaF2). Inferred: 131.1Mt @ 1.91% TREO & 4.0% CaF2. Ashram is an advanced, large-scale asset with significant development work already completed and over AUD 50 million invested historically. The merger with Commerce Resources has created a dual-listed, Canadian-focused critical minerals developer focused on unlocking the significant value of the Ashram Project. The Ashram Project is one of the largest undeveloped monazite-hosted rare earth deposits in North America, offering a unique opportunity to advance a new, large-scale source of critical rare earth supply at a time of growing Western demand and strategic focus on supply chain independence. Near-term Objectives and Key Value Drivers for CY 2025/2026. Road Access and engagement with Provincial and Federal Government: Mont Royal continues to work closely with Provincial and Federal Government Governments and their agencies to secure infrastructure support for an access road commitment for the Ashram Project. A recently completed road option study by Mont Royal has identified three potential access routes. This document is now complete and will shortly be tabled to form the basis of ongoing discussions with local indigenous groups and communities along with Provincial and Federal Government groups and agencies. When an optimal route is selected, additional and ongoing design work will be supported by a recent $2.6 million road research grant from Natural Resources Canada. Collaboration with Key Stakeholder/First Nations groups in the Nunavik region. Metallurgical Test work: Metallurgical test work and optimisation programs are scheduled to re-commence shortly. A significant amount of work on the flowsheet has already been completed in recent years achieving good recoveries for both the monazite concentrate generated via flotation and the Mixed Rare Earth Oxide (MREO) product generated at the following hydrometallurgical (sulphation bake) stage. This new work program intends to leverage off the previous work and continue to optimise flowsheets in preparation for the upcoming Pre-Feasibility programme, scheduled to start in second half 2026. Flotation Concentrate: A one-tonne bulk sample has been flown to Perth, Western Australia for additional flotation test work at Auralia labs. The test work is expected to yield around 30kg of monazite and fluorspar flotation concentrates and builds on the excellent work completed to date at SGS Lakefield. The additional work will look to: Build on and potentially improve the current flotation kinetics for REE flotation in the concentrate flowsheet; and Further develop the current Fluorspar flowsheet with the initial aim of producing a metallurgical-grade fluorspar concentrate (+60% CaF2) for potential incorporation into the initial Stage 1 development flowsheet. Hydrometallurgical (Sulphation bake) A small sample of existing flotation concentrate will be sent to ANSTO labs in Sydney, New South Wales for hydrometallurgical sighter test work. In addition to improving standard flowsheet results, work will also commence with emerging and alternative downstream processing technology groups. If successful, these alternative processing technologies could potentially replace the existing hydrometallurgical flowsheet. A small portion of flotation concentrate will be set aside for two separate technology groups for test work programs with results due in the first half of 2026.
분석 기사 • Nov 12Here's Why Mont Royal Resources (ASX:MRZ) Can Afford Some DebtLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Board Change • Nov 06Less than half of directors are independentThere are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. 1 independent director (4 non-independent directors). Chairman Ian Graham is the most experienced director on the board, commencing their role in 2009. Independent Director Adam Ritchie was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors.
New Risk • Mar 15New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$6.6m 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$6.6m free cash flow). Earnings have declined by 57% per year over the past 5 years. Revenue is less than US$1m (AU$37k revenue, or US$26k). Minor Risk Market cap is less than US$100m (AU$40.4m market cap, or US$28.3m).
공시 • Nov 14Mont Royal Outlines Multi-Pronged Work Program Following Successful ASX Re-listingMont Royal shares re-commenced trading on 5th November following the Company's transformational merger with TSXV-listed Commerce Resources. Mont Royal is focused on advancing the 100%-owned Ashram Rare Earth and Fluorspar Deposit in Quebec, Canada. Ashram is one of the largest monazite-dominant carbonatite-hosted Rare Earth Elements ("REE") deposits in North America, with a Tier-1 NI 43-101 Mineral Resource comprising: Indicated: 73.2Mt @ 1.89% Total Rare Earth Oxide (TREO) & 6.6% Fluorspar (CaF2). Inferred: 131.1Mt @ 1.91% TREO & 4.0% CaF2. Ashram is an advanced, large-scale asset with significant development work already completed and over AUD 50 million invested historically. The merger with Commerce Resources has created a dual-listed, Canadian-focused critical minerals developer focused on unlocking the significant value of the Ashram Project. The Ashram Project is one of the largest undeveloped monazite-hosted rare earth deposits in North America, offering a unique opportunity to advance a new, large-scale source of critical rare earth supply at a time of growing Western demand and strategic focus on supply chain independence. Near-term Objectives and Key Value Drivers for CY 2025/2026. Road Access and engagement with Provincial and Federal Government: Mont Royal continues to work closely with Provincial and Federal Government Governments and their agencies to secure infrastructure support for an access road commitment for the Ashram Project. A recently completed road option study by Mont Royal has identified three potential access routes. This document is now complete and will shortly be tabled to form the basis of ongoing discussions with local indigenous groups and communities along with Provincial and Federal Government groups and agencies. When an optimal route is selected, additional and ongoing design work will be supported by a recent $2.6 million road research grant from Natural Resources Canada. Collaboration with Key Stakeholder/First Nations groups in the Nunavik region. Metallurgical Test work: Metallurgical test work and optimisation programs are scheduled to re-commence shortly. A significant amount of work on the flowsheet has already been completed in recent years achieving good recoveries for both the monazite concentrate generated via flotation and the Mixed Rare Earth Oxide (MREO) product generated at the following hydrometallurgical (sulphation bake) stage. This new work program intends to leverage off the previous work and continue to optimise flowsheets in preparation for the upcoming Pre-Feasibility programme, scheduled to start in second half 2026. Flotation Concentrate: A one-tonne bulk sample has been flown to Perth, Western Australia for additional flotation test work at Auralia labs. The test work is expected to yield around 30kg of monazite and fluorspar flotation concentrates and builds on the excellent work completed to date at SGS Lakefield. The additional work will look to: Build on and potentially improve the current flotation kinetics for REE flotation in the concentrate flowsheet; and Further develop the current Fluorspar flowsheet with the initial aim of producing a metallurgical-grade fluorspar concentrate (+60% CaF2) for potential incorporation into the initial Stage 1 development flowsheet. Hydrometallurgical (Sulphation bake) A small sample of existing flotation concentrate will be sent to ANSTO labs in Sydney, New South Wales for hydrometallurgical sighter test work. In addition to improving standard flowsheet results, work will also commence with emerging and alternative downstream processing technology groups. If successful, these alternative processing technologies could potentially replace the existing hydrometallurgical flowsheet. A small portion of flotation concentrate will be set aside for two separate technology groups for test work programs with results due in the first half of 2026.
분석 기사 • Nov 12Here's Why Mont Royal Resources (ASX:MRZ) Can Afford Some DebtLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Board Change • Nov 06Less than half of directors are independentThere are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. 1 independent director (4 non-independent directors). Chairman Ian Graham is the most experienced director on the board, commencing their role in 2009. Independent Director Adam Ritchie was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors.