Board Change • May 20
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). Non-Executive Chairman Daniel Raihani is the most experienced director on the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Board Change • Dec 24
No independent directors There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Chairman Daniel Raihani is the most experienced director on the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. 공시 • Nov 06
Middle Island Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 3.4 million. Middle Island Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 3.4 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 193,145,706
Price\Range: AUD 0.017
Discount Per Security: AUD 0.00102
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 6,854,294
Price\Range: AUD 0.017
Discount Per Security: AUD 0.00102
Transaction Features: Subsequent Direct Listing 공시 • Oct 28
Middle Island Resources Limited, Annual General Meeting, Nov 28, 2025 Middle Island Resources Limited, Annual General Meeting, Nov 28, 2025. Location: allendale square, level 1, 77 st georges terrace, perth wa 6000, perth Australia 공시 • Sep 02
Middle Island Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 3.4 million. Middle Island Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 3.4 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 193,145,706
Price\Range: AUD 0.017
Discount Per Security: AUD 0.00102
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 6,854,294
Price\Range: AUD 0.017
Discount Per Security: AUD 0.00102
Transaction Features: Subsequent Direct Listing 공시 • Apr 07
Middle Island Resources Limited Announces Board Changes Middle Island Resources Limited announced that the EGM held on April 7, 2025, approved Election of Mr. Daniel Raihani as a Director. Election of Mr. Bill Richie Yang as a Director. Messrs Peter Thomas and Bruce Stewart each voluntarily resigned as directors of MDI, with agreement that the resignations take effect immediately after the appointment of Messrs Daniel Raihani and Bill Richie Yang to the board. Consequently, Resolutions 3 and 4 (to remove Messrs Thomas and Stewart as directors of the Company) were not considered at the meeting. 공시 • Feb 19
Middle Island Resources Limited Receives Notice from 7 Enterprises Pty Ltd On February 18, 2025, Middle Island Resources Limited announced that advises that it has received the attached notice from 7 Enterprises Pty Ltd under 249D and 203D(1) of the Corporations Act 2001, that the directors of the Company call and arrange to hold a general meeting of the Company as soon as possible, and in any event in accordance with the requirements of the Corporations Act and the Company's constitution, for the purpose of considering the resolutions for the appointment of Daniel Raihani and Bill Richie Yang as a Director and for the removal of Peter Thomas and Bruce Stewart as a Director of the Company. Board Change • Feb 04
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). Non-Executive Director Bruce Stewart was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. 공시 • Oct 31
Middle Island Resources Limited, Annual General Meeting, Nov 29, 2024 Middle Island Resources Limited, Annual General Meeting, Nov 29, 2024. Location: at the celtic club, 48 ord street, west perth, wa., Australia New Risk • Oct 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (29% average weekly change). Earnings have declined by 15% 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 (AU$32k revenue, or US$22k). Market cap is less than US$10m (AU$3.49m market cap, or US$2.42m). Minor Risk Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). New Risk • Nov 26
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 78% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 27% per year over the past 5 years. Shareholders have been substantially diluted in the past year (78% increase in shares outstanding). Revenue is less than US$1m (AU$32k revenue, or US$21k). Market cap is less than US$10m (AU$3.70m market cap, or US$2.44m). 공시 • Nov 02
Middle Island Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 1.054937 million. Middle Island Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 1.054937 million.
Security Name: Ordinary S
Security Type: Common Stock
Securities Offered: 70,329,111
Price\Range: AUD 0.015
Discount Per Security: AUD 0.00015
Transaction Features: Rights Offering 공시 • Nov 01
Middle Island Resources Limited, Annual General Meeting, Nov 30, 2023 Middle Island Resources Limited, Annual General Meeting, Nov 30, 2023, at 13:00 W. Australia Standard Time. Location: at The Celtic Club, 48 Ord Street West Perth Western Australia Australia Agenda: To receive and consider the Financial Report, together with the Directors' Report and the Auditor's Report, for the financial year ended 30 June 2023; to consider and adoption of remuneration report; to consider and re-election of peter thomas as a director; to consider and ratification of issues of shares; and to consider other matter also. New Risk • Sep 30
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$2.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.2m free cash flow). Earnings have declined by 27% per year over the past 5 years. Revenue is less than US$1m (AU$163k revenue, or US$105k). Market cap is less than US$10m (AU$3.38m market cap, or US$2.17m). Minor Risk Shareholders have been diluted in the past year (15% increase in shares outstanding). New Risk • Jul 18
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% 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 Shares are highly illiquid. Earnings have declined by 29% per year over the past 5 years. Revenue is less than US$1m (AU$96k revenue, or US$66k). Market cap is less than US$10m (AU$3.94m market cap, or US$2.69m). Minor Risk Shareholders have been diluted in the past year (15% increase in shares outstanding). 공시 • Jul 17
Middle Island Resources Limited (ASX:MDI) completed the acquisition of East Tennant Project from Strategic Energy Resources Limited (ASX:SER). Middle Island Resources Limited (ASX:MDI) entered into a binding Sale and Purchase Agreement to acquire East Tennant Project from Strategic Energy Resources Limited (ASX:SER) for AUD 0.64 million on May 16, 2023. Middle Island proposes to purchase 100% of SER’s East Tennant Projects for 18,240,000 fully paid ordinary MDI shares at a deemed price of AUD 0.035 per share, this being the closing price of Middle Island Resources on Friday May 12, 2023. The Consideration Shares are to be issued within 5 business days following satisfaction of conditions precedent in the SPA. Completion will be subject to MDI completing due diligence within 60 days and being satisfied with its findings, Statutory consents being received in relation to the transfer of the tenements, Consents required from ASX and No event occurring prior to completion which materially and adversely affects the right or interests proposed to be acquired by MDI under the SPA. MDI shares proposed to be issued to SER will be subject to a voluntary escrow period of a minimum of 12 months from date of completion, or any ASX mandated escrow restrictions if this period exceeds 12 months. It is expected that the transaction will be completed within a period of 90 days from date of execution of the SPA.
Middle Island Resources Limited (ASX:MDI) completed the acquisition of East Tennant Project from Strategic Energy Resources Limited (ASX:SER) on July 17, 2023. SER now holds approximately 14.9% of the shares on issue in MDI. All the conditions of the SPA have been satisfied. 공시 • May 16
Middle Island Resources Limited (ASX:MDI) entered into a binding Sale and Purchase Agreement to acquire East Tennant Project of Strategic Energy Resources for AUD 0.64 million. Middle Island Resources Limited (ASX:MDI) entered into a binding Sale and Purchase Agreement to acquire East Tennant Project of Strategic Energy Resources for AUD 0.64 million on May 16, 2023. Middle Island proposes to purchase 100% of SER’s East Tennant Projects for 18,240,000 fully paid ordinary MDI shares at a deemed price of AUD 0.035 per share, this being the closing price of (ASX:MDI) on Friday May 12, 2023. The Consideration Shares are to be issued within 5 business days following satisfaction of conditions precedent in the SPA. Completion will be subject to MDI completing due diligence within 60 days and being satisfied with its findings, Statutory consents being received in relation to the transfer of the tenements, Consents required from ASX and No event occurring prior to completion which materially and adversely affects the right or interests proposed to be acquired by MDI under the SPA. MDI shares proposed to be issued to SER will be subject to a voluntary escrow period of a minimum of 12 months from date of completion, or any ASX mandated escrow restrictions if this period exceeds 12 months. It is expected that the transaction will be completed within a period of 90 days from date of execution of the SPA. Board Change • May 12
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Bruce Stewart 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. Board Change • Apr 13
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Bruce Stewart 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.