New Risk • Apr 27
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 German stocks, typically moving 8.6% 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 Risk Earnings have declined by 2.1% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (129% cash payout ratio). Share price has been volatile over the past 3 months (8.6% average weekly change). Market cap is less than US$100m (€82.8m market cap, or US$97.0m). Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to €1.22, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 17x in the Metals and Mining industry in Europe. Total returns to shareholders of 64% over the past three years. New Risk • Mar 12
New major risk - Revenue and earnings growth Earnings have declined by 2.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.1% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (129% cash payout ratio). Market cap is less than US$100m (€85.7m market cap, or US$98.7m). Reported Earnings • Mar 12
First half 2026 earnings released: EPS: AU$0.18 (vs AU$0.14 in 1H 2025) First half 2026 results: EPS: AU$0.18 (up from AU$0.14 in 1H 2025). Revenue: AU$26.6m (up 2.3% from 1H 2025). Net income: AU$10.3m (up 26% from 1H 2025). Profit margin: 39% (up from 31% in 1H 2025). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 17% per year. New Risk • Mar 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €84.8m (US$98.5m) 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: Minor Risks Dividend is not well covered by cash flows (95% cash payout ratio). Market cap is less than US$100m (€84.8m market cap, or US$98.5m). Board Change • Nov 17
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Alternate Director Lyndall Vaughan was the last director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. 공지 • Oct 07
Rand Mining Limited, Annual General Meeting, Nov 28, 2025 Rand Mining Limited, Annual General Meeting, Nov 28, 2025. Location: at the plaza hotel, 45 egan street, kalgoorlie, western australia, Australia 공지 • Oct 08
Rand Mining Limited, Annual General Meeting, Nov 29, 2024 Rand Mining Limited, Annual General Meeting, Nov 29, 2024. Location: at the plaza hotel, 45 egan street, kalgoorlie, western australia, Australia 공지 • Oct 27
Rand Mining Limited Declares Dividend, Payable on 30 November 2023 Rand Mining Limited resolved to pay a dividend of 10 cents per share, fully franked at the company tax rate of 30%. The key dates are as follows: Ex-dividend Date 1 November 2023, Record Date 2 November 2023, Payment Date 30 November 2023. 공지 • Sep 14
Rand Mining Limited, Annual General Meeting, Nov 24, 2023 Rand Mining Limited, Annual General Meeting, Nov 24, 2023, at 10:00 W. Australia Standard Time. Location: The Plaza Hotel, 45 Egan Street, Kalgoorlie Western Australia Australia Reported Earnings • Mar 10
First half 2023 earnings released: EPS: AU$0.11 (vs AU$0.13 in 1H 2022) First half 2023 results: EPS: AU$0.11 (down from AU$0.13 in 1H 2022). Revenue: AU$18.3m (down 9.6% from 1H 2022). Net income: AU$6.51m (down 12% from 1H 2022). Profit margin: 36% (down from 37% in 1H 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Board Change • Jan 21
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. No experienced directors. 3 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Gordon Sklenka was the last director to join the board, commencing their role in 2004. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 3 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Gordon Sklenka was the last director to join the board, commencing their role in 2004. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Buying Opportunity • Oct 28
Now 31% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be €1.15, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.9% over the last 3 years. Earnings per share has declined by 26%. Reported Earnings • Sep 21
Full year 2022 earnings released: EPS: AU$0.19 (vs AU$0.26 in FY 2021) Full year 2022 results: EPS: AU$0.19 (down from AU$0.26 in FY 2021). Revenue: AU$32.1m (down 26% from FY 2021). Net income: AU$10.7m (down 30% from FY 2021). Profit margin: 33% (down from 35% in FY 2021). The decrease in margin was driven by lower revenue. Production and reserves: Gold Production: 7.049 troy koz (13.02 troy koz in FY 2021) Proved and probable reserves (ore): 0.436 Mt (0.439 Mt in FY 2021) Number of mines: 1 (1 in FY 2021) Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improved over the past week After last week's 18% share price gain to €1.08, the stock trades at a trailing P/E ratio of 5.9x. Average trailing P/E is 4x in the Metals and Mining industry in Germany. Total loss to shareholders of 34% over the past three years. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improved over the past week After last week's 20% share price gain to €1.07, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 4x in the Metals and Mining industry in Germany. Total loss to shareholders of 35% over the past three years. Board Change • Apr 27
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. No experienced directors. 3 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Gordon Sklenka was the last director to join the board, commencing their role in 2004. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Mar 10
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: AU$0.13 (down from AU$0.14 in 1H 2021). Revenue: AU$20.2m (down 18% from 1H 2021). Net income: AU$7.39m (down 11% from 1H 2021). Profit margin: 37% (up from 34% in 1H 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment improved over the past week After last week's 21% share price gain to €1.01, the stock trades at a trailing P/E ratio of 5.2x. Average trailing P/E is 9x in the Metals and Mining industry in Europe. Total loss to shareholders of 9.8% over the past three years. Reported Earnings • Sep 18
Full year 2021 earnings released: EPS AU$0.26 (vs AU$0.026 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: AU$43.3m (up AU$40.5m from FY 2020). Net income: AU$15.2m (up AU$16.7m from FY 2020). Profit margin: 35% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 43 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 11
First half 2021 earnings released: EPS AU$0.14 (vs AU$0.032 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: AU$24.6m (up AU$24.4m from 1H 2020). Net income: AU$8.26m (up AU$10.2m from 1H 2020). Profit margin: 34% (up from net loss in 1H 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 25
New 90-day low: €0.98 The company is down 14% from its price of €1.14 on 27 November 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 59% over the same period. Is New 90 Day High Low • Feb 09
New 90-day low: €1.01 The company is down 27% from its price of €1.39 on 10 November 2020. The German market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 57% over the same period. Is New 90 Day High Low • Jan 04
New 90-day low: €1.04 The company is down 5.0% from its price of €1.10 on 06 October 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 45% over the same period. Is New 90 Day High Low • Dec 04
New 90-day low: €1.07 The company is down 12% from its price of €1.21 on 04 September 2020. The German market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 5.0% over the same period. Reported Earnings • Sep 20
Full year earnings released - €0.026 loss per share Over the last 12 months the company has reported total losses of AU$1.54m, with earnings decreasing by AU$68.5m from the prior year.