Announcement • Apr 08
Octava Minerals Limited (ASX:OCT) completed the acquisition of Byro Mining Pty Ltd. Octava Minerals Limited (ASX:OCT) signed a binding conditional agreement to acquire Byro Mining Pty Ltd for AUD 0.55 million on January 24, 2024. As part of the consideration, Octava Minerals Limited shall issue 8.51 in shares and 2 million in performance rights subject to the publication of a scoping study, or equivalent higher-level study on the Tenements. All Shares under the transaction are to be subject to mandatory ASX escrow. The transaction is subject to due diligence, Octava and Byro each obtaining all necessary board, shareholder and regulatory approvals. The transaction received approval from the shareholders of Octava Minerals Limited.
As of January 28, 2026 Octava Minerals Ltd. has agreed with the vendors to vary the terms of its Agreement for the acquisition of the Byro REE Project. (the Byro Agreement). Under the terms of the agreement the parties have agreed to extend 24 month sunset clause by which time the conditions precedent to 31 March 2026. The parties have agreed to issue Performance Rights instead of the granting of a right to 2,000,000 shares, with the Performance Rights having the same study publication milestone for conversion to shares.
Octava Minerals Limited (ASX:OCT) completed the acquisition of Byro Mining Pty Ltd on April 7, 2026. New Risk • Mar 16
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 18% 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$1.9m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 20% per year over the past 5 years. Shareholders have been substantially diluted in the past year (82% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$4.55m market cap, or US$3.18m). New Risk • Mar 14
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$1.9m 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$1.9m free cash flow). Earnings have declined by 20% per year over the past 5 years. Shareholders have been substantially diluted in the past year (82% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$4.55m market cap, or US$3.18m). Minor Risk Share price has been volatile over the past 3 months (17% average weekly change). 
