New Risk • 23h
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 129% 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 (32% average weekly change). Earnings have declined by 53% per year over the past 5 years. Shareholders have been substantially diluted in the past year (129% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$11.1m market cap, or US$7.96m). Announcement • Aug 26
Piche Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 0.728324 million. Piche Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 0.728324 million.
Security Name: Ordinary Share
Security Type: Common Stock
Securities Offered: 40,462,426
Price\Range: AUD 0.018
Discount Per Security: AUD 0.00108
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Jul 26
Piche Resources Limited Announces Board Changes Piche Resources Limited announced a 1 for 1 non-renounceable pro-rata entitlement offer of new fully paid ordinary shares in the Company to raise approximately $2.5 million (before costs) (Entitlement Offer). Upon successful completion of the Entitlement Offer, Gerard O'Donovan will be appointed to the Company's board of directors as a Non-Executive Director. Mr. O'Donovan is a resource executive who has over 18 years of experience in managing exploration, mining development projects & operations across various commodities including copper, silver, gold, lithium and iron ore. Mr. O'Donovan is currently the Managing Director and CEO of Kaoko Metals Limited. Mr. O'Donovan was previously Executive Director of Sun Silver Limited and the Non-Executive Chair of Black Bear Minerals (formerly James Bay Minerals Ltd). He was the project manager of Pilbara Minerals Ltd.'s Pilgangoora Project and successfully lead the development, and bringing into operation of the Pilgangoora lithium-tantalum Stage 1 mine and processing facility. Mr. O'Donovan was also the CEO of ASX listed Battery Age Minerals Ltd. nd has worked with Atlas Iron, Fortescue Metals Group, Australian Premium Iron JV, and Rio Tinto's Winu Copper Gold Project. Mr. O'Donovan holds a Bachelor of Engineering (Civil & Structural, Honours) and has also carried out further studies in the fields of Sustainability, Circular Economy & Social Governance. The Company also advises that Clark Beyer has resigned as a Non-Executive Director of the Company, effective immediately. 
