New Risk • Jan 03
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 37% 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 Less than 1 year of cash runway based on free cash flow trend (-AU$5.3m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 35% per year over the past 5 years. Shareholders have been substantially diluted in the past year (37% increase in shares outstanding). Revenue is less than US$1m (AU$30k revenue, or US$20k). Minor Risk Market cap is less than US$100m (AU$46.0m market cap, or US$30.8m). Recent Insider Transactions Derivative • Dec 24
Non-Executive Director exercised options to buy AU$219k worth of stock. On the 23rd of December, Derong Qiu exercised options to buy 10m shares at a strike price of around AU$0.015, costing a total of AU$150k. This transaction amounted to 5.1% of their direct individual holding at the time of the trade. Since June 2025, Derong's direct individual holding has increased from 195.03m shares to 256.36m. Company insiders have collectively bought AU$209k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Oct 06
Cauldron Energy Limited, Annual General Meeting, Nov 27, 2025 Cauldron Energy Limited, Annual General Meeting, Nov 27, 2025. Reported Earnings • Oct 01
Full year 2025 earnings released Full year 2025 results: Net loss: AU$5.36m (loss widened 13% from FY 2024). New Risk • Sep 29
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. 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 (25% average weekly change). Earnings have declined by 35% per year over the past 5 years. Shareholders have been substantially diluted in the past year (45% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Market cap is less than US$100m (AU$34.0m market cap, or US$22.3m). New Risk • Jul 02
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 46% 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 (24% average weekly change). Earnings have declined by 35% per year over the past 5 years. Shareholders have been substantially diluted in the past year (46% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$16.1m market cap, or US$10.6m). New Risk • Jun 20
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 46% 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 (23% average weekly change). Earnings have declined by 35% per year over the past 5 years. Shareholders have been substantially diluted in the past year (46% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$17.9m market cap, or US$11.6m). Announcement • May 26
Cauldron Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 1.948539 million. Cauldron Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 1.948539 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 324,756,580
Price\Range: AUD 0.006
Transaction Features: Rights Offering Reported Earnings • Mar 19
First half 2025 earnings released: AU$0.003 loss per share (vs AU$0.003 loss in 1H 2024) First half 2025 results: AU$0.003 loss per share (in line with 1H 2024). Net loss: AU$4.37m (loss widened 106% from 1H 2024). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. 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$6.3m 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$6.3m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 35% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$11.7m market cap, or US$7.35m). Minor Risk Shareholders have been diluted in the past year (21% increase in shares outstanding). New Risk • Mar 05
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 17% 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 Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 19% per year over the past 5 years. Revenue is less than US$1m (AU$43k revenue, or US$27k). Market cap is less than US$10m (AU$13.2m market cap, or US$8.26m). Minor Risk Shareholders have been diluted in the past year (21% increase in shares outstanding). New Risk • Feb 03
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$16.1m (US$9.88m) This is considered a major 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: Major Risks Earnings have declined by 19% per year over the past 5 years. Revenue is less than US$1m (AU$43k revenue, or US$27k). Market cap is less than US$10m (AU$16.1m market cap, or US$9.88m). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (27% increase in shares outstanding). New Risk • Dec 19
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.8m (US$9.27m) This is considered a major 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: Major Risks Earnings have declined by 19% per year over the past 5 years. Revenue is less than US$1m (AU$43k revenue, or US$27k). Market cap is less than US$10m (AU$14.8m market cap, or US$9.27m). Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Shareholders have been diluted in the past year (19% increase in shares outstanding). Announcement • Dec 02
Cauldron Energy Limited Appoints Mr. Michael Wells as A Non-Executive Director Cauldron Energy Limited announced the appointment of Mr. Michael Wells as a Non-Executive director with immediate effect following shareholder approval for Mr. Wells' appointment at the Company's 2024 Annual General Meeting. Mr. Wells was nominated as a non-executive Director by Parle Investments Pty Limited, Cauldron's largest shareholder, and the resolution received strong support with 99.60% of votes cast in support. Mr. Wells has had a long and successful business career and worked closely with Mr. Anthony Parle, of Parle Investments Pty Ltd, for approximately twenty years until 2021 and was centrally involved in the growth of businesses owned by Mr. Parle which included numerous capital investment projects. Reported Earnings • Sep 28
Full year 2024 earnings released: AU$0.004 loss per share (vs AU$0.003 loss in FY 2023) Full year 2024 results: AU$0.004 loss per share (further deteriorated from AU$0.003 loss in FY 2023). Net loss: AU$4.73m (loss widened 102% from FY 2023). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. New Risk • Sep 11
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 23% 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 Share price has been highly volatile over the past 3 months (23% average weekly change). Revenue is less than US$1m (AU$337k revenue, or US$225k). Minor Risks Shareholders have been diluted in the past year (29% increase in shares outstanding). Market cap is less than US$100m (AU$25.8m market cap, or US$17.2m). Reported Earnings • Mar 17
First half 2024 earnings released: AU$0.002 loss per share (vs AU$0.003 loss in 1H 2023) First half 2024 results: AU$0.002 loss per share. Net loss: AU$2.12m (loss widened 32% from 1H 2023). Announcement • Feb 21
Cauldron Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 2.025 million. Cauldron Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 2.025 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 45,000,000
Price\Range: AUD 0.045
Transaction Features: Subsequent Direct Listing Announcement • Feb 08
Cauldron Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 2.025 million. Cauldron Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 2.025 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 45,000,000
Price\Range: AUD 0.045
Transaction Features: Subsequent Direct Listing Announcement • Nov 03
Cauldron Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 1.427353 million. Cauldron Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 1.427353 million.
Security Name: Ordinay Shares
Security Type: Common Stock
Securities Offered: 158,594,777
Price\Range: AUD 0.009
Discount Per Security: AUD 0.00054
Transaction Features: Rights Offering Announcement • Oct 17
Cauldron Energy Limited, Annual General Meeting, Nov 30, 2023 Cauldron Energy Limited, Annual General Meeting, Nov 30, 2023, at 10:00 W. Australia Standard Time. Agenda: To consider the election of Directors. Announcement • Oct 13
Currawong Resources Pty Ltd completed the acquisition of a 51% stake in the Blackwood Gold Project from Cauldron Energy Limited (ASX:CXU) Currawong Resources Pty Ltd agreed to acquire 51% stake in Blackwood Gold Project from Cauldron Energy Limited (ASX:CXU) for AUD 0.3 million on September 5, 2023. There are no proposed changes to the board or senior management personnel as a consequence of this transaction. The acquisition is to the following condition precedent: both parties obtaining all shareholder and regulatory approvals required to perform their obligations under the agreement, and Cauldron and Blackwood entering into a termination agreement to terminate the Joint Venture Agreement. The transaction is expected to be concluded by no later than September 25, 2023.Currawong Resources Pty Ltd completed the acquisition of 51% stake in Blackwood Gold Project from Cauldron Energy Limited (ASX:CXU) on October 11, 2023. Reported Earnings • Sep 30
Full year 2023 earnings released: AU$0.003 loss per share (vs AU$0.004 loss in FY 2022) Full year 2023 results: AU$0.003 loss per share. Net loss: AU$2.34m (loss widened 26% from FY 2022). Announcement • Sep 06
Currawong Resources Pty Ltd agreed to acquire 51% stake in Blackwood Gold Project from Cauldron Energy Limited (ASX:CXU) for AUD 0.3 million. Currawong Resources Pty Ltd agreed to acquire 51% stake in Blackwood Gold Project from Cauldron Energy Limited (ASX:CXU) for AUD 0.3 million on September 5, 2023. There are no proposed changes to the board or senior management personnel as a consequence of this transaction. The acquisition is to the following condition precedent: both parties obtaining all shareholder and regulatory approvals required to perform their obligations under the agreement, and Cauldron and Blackwood entering into a termination agreement to terminate the Joint Venture Agreement. The transaction is expected to be concluded by no later than September 25, 2023. Reported Earnings • Mar 17
First half 2023 earnings released: AU$0.003 loss per share (vs AU$0.001 loss in 1H 2022) First half 2023 results: AU$0.003 loss per share (further deteriorated from AU$0.001 loss in 1H 2022). Net loss: AU$1.61m (loss widened 175% from 1H 2022). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Announcement • Dec 02
Cauldron Energy Limited Appoints Jonathan Fisher as Chief Executive Officer Cauldron Energy Limited announced the appointment of Mr. Jonathan Fisher as Chief Executive Officer effective immediately. Mr. Fisher holds degrees in Law, Finance and Commerce (University of Western Australia and Macquarie University), and has 20 years' experience in the resources and corporate industries. Most recently, Mr. Fisher was Chief Financial Officer at TNG Ltd. and led their project financing and government liaison teams. He was responsible for delivery of $800M in conditional financing support for TNG's Mt Peake project in the NT. Prior to that Jonathan was Chief Financial Officer for five years for Tellus Holdings Ltd, a hazardous waste management company with customers ranging from mining, oil & gas, utility and heavy industry sectors. This included securing $160M pre-development and then development financing for the Sandy Ridge facility in Western Australia, and liaison with a number of different West Australian state and Federal government departments to deliver the holistic financial assurance and insurance framework for the project. In the iron ore sector, Mr. Fisher was General Manager Corporate Finance for Atlas Iron for circa 4 years during the period 2012 to 2015 where he was responsible for all corporate treasury operations, debt capital for project development, and various other commercial responsibilities. Other roles have included corporate advisory at PricewaterhouseCoopers, Rothschild (London- based), and Poynton and Partners. Of particular relevance, Jonathan was a member of the Natural Resources, Utilities and Infrastructure team at Rothschild where he was involved in corporate advisory roles in the nuclear energy sector across Europe. Mr. Fisher is a Graduate of the Australian Institute of Company Directors (GAICD). Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Chengchong Zhou was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 20
Cauldron Energy Limited, Annual General Meeting, Nov 29, 2022 Cauldron Energy Limited, Annual General Meeting, Nov 29, 2022, at 10:00 W. Australia Standard Time. Location: Unit 2, 420 Bagot Road, Subiaco Western Australia Australia Agenda: To consider the election of the directors. Reported Earnings • Oct 04
Full year 2022 earnings released: AU$0.004 loss per share (vs AU$0.002 loss in FY 2021) Full year 2022 results: AU$0.004 loss per share (further deteriorated from AU$0.002 loss in FY 2021). Net loss: AU$1.85m (loss widened 177% from FY 2021). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Sep 07
Cauldron Energy Limited Announces Management Changes Cauldron Energy Limited announced the appointment of Michael Fry as a Director in replacement of Simon Youds, who has resigned with immediate effect. Cauldron thanks Mr. Youds for his service to the Company over the past several years. Mr. Fry is an experienced public company director and senior executive who has been involved in the mineral resources mining and exploration industries for overtwenty years, and is the current Chief Financial Officer and Company Secretary of Cauldron. Announcement • Aug 13
Cauldron Energy Limited Announces Another High-Grade Intersection At Blackwood Cauldron Energy Limited reported a second intersection of high-grade gold in its current diamond drill program at the Blackwood Gold Project in Victoria. The results from drill hole BKD015 show excellent correlation with results from recent hole BKD014, confirming the westerly dipping, southerly plunging orientation of gold-bearing shoots, which have developed from multiple phases of structural deformation and corresponding injections of gold-rich fluids into the structurally-related dilution zones. Drilling is continuing to target the Annie Laurie reef from the underground drill access in the Tyrconnel Adit. Holes BKD015 and BKD014 were positioned either side of the Western Leader Rise to target a zone of high-grade gold sampled in the 1980's. The results validate the previous results of 2.45m grading 31.3 g/t Au from face sampling. The excellent correlation between Cauldron's drilling and previous underground sampling gives the Company confidence in using these results to guide its exploration program. Hole BKD015 was drilled from the same underground platform as hole BKD014 but targeted the southern side of the Western Leader Rise and tested the southerly plunge of the high-grade gold shoot previously sampled in the Rise in 1986. BKD014 tested the northern extension of the same high-grade gold shoot. The position of the high-grade mineralisation intersected in both drillholes shows excellent correlation with previous face sampling of 2.45m grading 31.3 g/t Au in the Western Leader Rise, situated approximately 12m vertically below the level of the Tyrconnel Adit and approximately 70m below ground surface. Geologically, the BKD015 intercept is hosted within a similar zone of broken quartz to that observed in BKD014, containing moderate amounts of sulphide (pyrite, chalcopyrite and galena), in the same structurally complex sequence of folded sandstones, siltstones and graphitic shales. Results from hole BKD015 were: 0.8m @ 19.2 g/t Au from 20.20 21.00m downhole, including 0.30m @ 27.0 g/t Au from 20.20m. Results from hole BKD013 were also received but did not return any significant gold intersections. Although the target ore shoot was intersected, geological logging of the core indicated a fault gouge interval at the target depth, likely representing an offset of the target ore shoot. Cauldron aims to expand and demonstrate the full potential of the Blackwood Goldfield over time, with the drill campaign at the Eastern Reefs being just the first step of the work program. Historic production at Blackwood totalled more than 200,000 ounces of gold from a number of shafts with extensive underground workings limited to above the water table in most areas. Therefore, the potential for defining a multi-million ounce gold endowment at depth at Blackwood is very good. Announcement • Aug 02
Cauldron Energy Reports the Intersection of High-Grade Gold in Its Current Diamond Drill Program At the Blackwood Gold Project in Victoria Cauldron Energy reported the intersection of high-grade gold in its current diamond drill program at the Blackwood Gold Project in Victoria. The gold lodes are contained in a westerly dipping geological sequence, with south plunging gold-bearing shoots developed as a result of structural deformation and subsequent injection of gold into structurally-related dilution zones. Drilling is targeting the Annie Laurie reef using underground drill access from the Tyrconnel Adit. The Annie Laurie reef is part of the Eastern Reefs system, with the potentially larger Western Reefs system still to be explored. The drilling program at Annie Laurie is designed to aid understanding of the nuggety and narrow-vein nature of gold in these types of gold lode systems, which is critical for future resource definition. Accessible from the 800m long Tyrconnel Adit, the Annie Laurie lode is the first to be drill tested by Cauldron. Previous underground sampling of the old workings had identified high grade intervals along the old levels and inter-level rises, which has guided Cauldron's interpretation of potentially high-grade plunging shoots. After establishing underground access and sourcing a suitable drilling rig, early challenges were encountered with poor core recoveries, labour shortages (due to COVID) and holes not being able to reach the target. After some perseverance, and using various drilling additives, core recoveries have been improved to 95-100% giving the Company the confidence to continue with the drilling program. Initial holes either did not reach the intended target or intersected marginal low-grade positions on the high-grade gold shoots (i.e., holes BKD001-BKD010). Hole BKD011 intersected a rise that connects the sub-level workings with the Tyrconnel Adit. Its location was not precisely known before. Drilling was able to continue through the rise and intersected low-grade gold mineralisation on the footwall side, 0.35m @ 1.06 g/t Au. Hole BKD012 intersected the target but missed the high-grade gold shoot. Holes BKD013 to BKD015appear to have intersected the quartz-bearing high-grade gold shoot. Samples from BKD013 and BKD015 are at the Bureau Veritas laboratory and assay results are pending. Results from hole BKD014 are: 0.6m @ 20.1 g/t Au from 20.8 - 21.4m downhole. The mineralisation is hosted by broken quartz veining (which caused early drill recovery problems) within a structurally complex sequence of folded sandstones, siltstones and graphitic shales. Sulphides (mainly pyrite) are often enriched in and around the gold lodes. The hole BKD014 intercept is situated 70m below surface. Drilling is continuing with BKD016 currently in progress. The Company wishes to acknowledge Bureau Veritas, who have turned around gold assays in a very short time to enable the Company to react to results and plan drilling accordingly. Cauldron's ongoing program of drilling at Blackwood will aim to expand and demonstrate the full potential of the goldfield over time, with the drill campaign at the Eastern Reefs being just the first step of the work program. Historic production at Blackwood was undertaken from a number of shafts with extensive underground workings limited to above the water table in most areas. Therefore, the potential for defining a multi-million ounce gold endowment at Blackwood is very good. Announcement • May 31
Cauldron Energy Limited Announces Board Changes Cauldron Energy Limited announced the appointment of Ian Mulholland as a Non-Executive director and Chairman with immediate effect. Current Chairman Simon Youds will continue in the capacity of Executive Director. Mr. Mulholland has had a long and distinguished career holding senior technical and executive roles for over 30 years. Most notably, Mr. Mulholland was Chief Geologist of Summit Resources during which time Summit completed a resource upgrade on the Valhalla uranium deposit and acquired a portfolio of uranium projects; ultimately being taken over by ASX-listed Paladin Resources for $44 million. Subsequently, Mr. Mulholland was Exploration Manager at Anaconda Nickel during the period that Anaconda grew its lateritic nickel ore resource from 300 million tonnes to over 1.3 billion tonnes; and Technical Director of Conquest Mining during the period in which Conquest acquired the Carlton silver-gold project with Conquest subsequently merging with Evolution Mining for a $320 million valuation. Most recently, Mr. Mulholland was founding Managing Director of ASX-listed Rox Resources for 15 years. Since retiring from Rox Resources in April 2019, Mr. Mulholland has operated a highly successful geological and mining personal consultancy. Mr. Mulholland holds a Bachelor of Science with Honours from the University of Sydney, a Master of Science from James Cook University, a Diploma of Science Education with Honours from Edith Cowan University and has completed numerous professional development courses. He also holds or has held numerous professional memberships including being a Fellow of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists, and Society of Economic Geologists and a Member of the Australian Institute of Company Directors. Current Non-Executive director and former Chief Executive Officer, Mr. Jess Oram, has elected to resign as a Director effective immediately. Mr. Oram was appointed General Manager - Exploration of PaladinEnergy in July 2021 but agreed to remain on the Cauldron Board to assist the Company with its transition, and to mentor the geological team. Announcement • May 18
Cauldron Energy Limited Provides an Update the Market on Its Progression of the Phase 2 Diamond Drill Program in the Tyrconnel Adit At Its Prospective Blackwood Gold Joint Venture Project Cauldron Energy Limited provided update the market on its progression of the Phase 2 diamond drill program in the Tyrconnel Adit (or the Adit) at its prospective Blackwood Gold Joint Venture Project. Over the past several months, Cauldron has trialled a number of conventional drilling systems from smaller to larger diameter holes in an attempt to improve core recovery at Blackwood. The initial drill contractor used LTK48 (35mm core) conventional diamond drilling but only achieved recoveries of up to 60%, which risked missing the discrete target ore zones. The current boom in the Victorian gold industry has resulted in difficulties sourcing experienced diamond drill operators, consequently delaying the completion of the planned contract metres. Cauldron has also experienced similar challenges in sourcing personnel and also long lead times on equipment, again delaying drilling operations at the Tyrconnel. Subsequent in-house drilling using the larger diameter LTK60 (45mm core) conventional system, readily available over the 2021 Christmas period, similarly suffered from insufficient core recoveries and hole collapses in the sheared target areas. The current drill program, which commenced over Easter 2022, utilises a triple tube NQ3 system that has proven successful and provided the required core recoveries from the target areas being drilled. It has involved sourcing experienced pneumatic diamond drillers and modifying the existing Kempe drill rig to fit the larger diameter coring bits and barrel (for an outer hole diameter of 75mm). Again, lingering supply effects from the COVID pandemic have impacted the program which, in addition to personnel availability issues, has prevented continuity of drilling until now. Thanks to the various inputs from external drilling advisors Stephen Poke, E-Drill Australia (Tasmania), and Tony Collins at East West Drilling & Mining Supplies (Victoria), Cauldron have now successfully found the right drilling personnel and the right diamond coring system, returning more than 90% core recoveries. This system is enabling Cauldron to continue operating in a manner that minimises environmental and community impacts for all current and future operations. Sample recovery is vital in this geological environment because of the narrow-vein style, high-grade but highly faulted and sheared nature of the reefs. Cauldron's work on the structural setting has shown that there are multiple cross-cutting faults throughout the tightly folded rock sequence in this part of the Blackwood Gold Project. Drilling into such structurally complex areas is often difficult and can miss these narrow targets if the incorrect sample recovery system is used. Achieving more than 90% sample recovery is, therefore, critical to enabling the successful definition of these discrete, narrow, high-grade ore zones as reported historically within the region. The current recoveries now allow the geology team to confidently target these historical high grade zones. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Chengchong Zhou was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Mar 06
Cauldron Energy Limited Announces Blackwood Update Cauldron Energy Limited announced the commencement of drilling from within the recently cleared underground platform in the Tyrconnel Adit (or the Adit) at its prospective Blackwood Gold Joint Venture Project. Highlights: Cauldron has commenced the much-awaited second phase of underground drilling, with holes targeting historical high-grade zones of the interpreted south-plunging Western Leader Reef. Drilling follows recent geochemical mapping of the Tyrconnel Adit, with gold found in channel samples from the Western Leader. Recent systematic channel sampling confirmed geochemical pathfinder vectors within an alteration halo of increasing arsenic (As), antimony (Sb) and silver (Ag)) associations with mineralised structures. New geochemical and structural understanding now allows significantly improved criteria for drill testing of Blackwood's narrow, high-grade gold vein systems. Announcement • Feb 22
Cauldron Energy Limited Updates the Market the Ongoing Work Program at Its Prospective Blackwood Gold JV Project Cauldron Energy Limited updated the market regarding the ongoing work program at its prospective Blackwood Gold JV Project (Blackwood or the Project). Drilling undertaken in December 20211 consisted of 3 holes (BKD003-5) designed as a fan from inside the Tyrconnel Adit, to test the high-grade Annie Laurie and associated Western Leader Reef, mined in the 1880's. Poor ground and travel constraints prevented the use of optimal collar locations and resulted in the forced abandonment of the holes before reaching target depth. Modelling and historical reports indicated that the drilling should have intersected high grade gold. Instead, drilling intersected multiple voids and incompetent ground in unpredictable places resulting in significant core loss and the failure to reach the predicted depths for intersection of high grade mineralisation. In order to somehow test the sheared reef structures in the target area, sludging or open hole samples were collected with the most significant intersection returning 1m @ 0.86 g/t Au in BKD005 providing an indicator of the concepts being tested. Three holes were drilled for a total of 32 metres through sandstones, highly sheared siltstones, thin black graphitic shales associated with the narrow shears and fractures, and thin quartz stringer veins. However, the intersection of multiple voids and broken, incompetent ground resulted in extremely poor core recovery. Hole BKD005 was drilled the deepest (to 17.70m) before intersecting broken ground associated with the Annie Laurie Reef and potentially extending into the Western Leader Rise before the hole had to be abandoned. Historical documentation and correspondence suggests a geochemical association between Gold, Arsenic and Base Metals which could potentially assist in creating a geochemical vectoring tool. This tool could assist in identifying mineralised structures that, due to their nuggety nature, may have historically returned only weakly anomalous gold values. Previous explorers have focused on selected quartz veining associations for sampling in diamond core drilled from surface. Low grade gold values were ignored rather than being used to interpret vectoring patterns potentially pointing to higher-grade zones. There are currently not enough prospect-scale geochemical data available to fully test this theory, although ongoing data compilations may expose additional datasets. The continued geochemical sampling program will assist in identifying additional pathfinder element associations to better direct exploration to the high-grade gold mineralisation. The elements listed so far now form part of the standard assay suite for the Blackwood Project and the team will continue to develop the 3D geochemical model as exploration advances. Although the drilling failed to reach the expected gold mineralisation, the geochemical patterns recognised in the assay results strongly supports the area chosen for the drilling. Had the historical workings not been intersected, the Phase 1 drillholes should have intersected the anticipated high-grade gold in the hanging wall of the Annie Laurie structure, as originally intended. Despite this frustration, 3D modelling completed with the aid of the Phase 1 results has allowed better design of the Phase 2 drilling. These new holes will target the competent hanging wall or western side of the reef structures from the drill cuddy currently under construction adjacent to and within the Tyrconnel Adit. Drilling from the hanging wall side will give a better indication of the true width of the host mineralised structures, whilst avoiding the historical mined areas. Underground rehabilitation work has continued in order to provide safe access through the historically stopped reef areas above the adit level. A proper drill site or cuddy is now being formed inside the Tyrconnel Adit to allow for multiple drill orientations, or fans, of drillholes. This will allow better targeting of the west-dipping mineralised structures. Thanks to the information gained through the frustrations of Phase 1, the Phase 2 drilling should now also avoid any historical workings and instead intersect the targeted, high-grade, mineralised reef. Ten new holes are planned on a fan design to intersect both the hangingwall and footwall of the Western Leader and associated Annie Laurie Reefs, based on a range of azimuths and dips considered the most optimal for target penetration. As with any exploration program, the final number of holes drilled will depend highly on ground conditions and penetration rates once drilling commences. Announcement • Dec 13
Cauldron Energy Limited Announces Drilling to Recommence at Blackwood Gold Project in Victoria Cauldron Energy Limited provided an update relating to its exploration activities at its prospective Blackwood Gold Project. These activities are centred on the historically worked Eastern Gold Reefs, which are accessed from the Tyrconnel Adit. Previous drilling, channel sampling and mapping have firmed up the potential of this specific target area adjacent to the Annie Laurie Reef. The reef at this level was last mined during the 1860 and early 1890s during the Victorian Gold Rush period which saw intense mining activity in the Barrys Reef area. Highlights: Drilling scheduled to recommence on 23 December 2021. Immediate focus: a fan of five underground drillholes designed to target a potentially high-grade, under explored area adjacent to the Annie Laurie Reef, last mined during the 1860 - 90s. Underground drilling with a Kempe Diamond Drill allows multiple short holes and maximises target structure intersections. Kempe drilling equipment and operators now both available with COVID travel constraints having been lifted. The location of the various known gold reefs in the Blackwood Gold Project overlying regional geology are shown in Figure 2 below and a conceptual long section view of these same reefs with the current interpretation of remaining mineralisation orientation and potential. The northern end of the longsection is the area being targeted through the Tyrconnel Adit. By accessing this Adit underground, the Company is positioning itself on the perfect drill platform approximately 100m below the surface. This location is considered the best place from which to test multiple targets on both the Eastern (Annie Laurie/Grace Edgerton) and Western (Sultan/Mounters) Reef systems. The historically prolific Western Reefscomprise between 6 and 8 gold reefs of significantly high grades, producing incredible financial returns forLondon-based shareholders back in the late 1800s gold rush era. Historical reports indicate that the gradesdiscovered during the historical gold rush rivalled the material currently being mined at the undergroundFosterville Gold Mine, approximately 83km to the north-northeast of Blackwood. To date, ground-based operations have involved re-establishing access within the Tyrconnel Adit using modern stabilisation systems3. As previously mentioned, access to the reefs from within the Tyrconnel presents Cauldron with the unique opportunity to test down dip extensions of this highly prolific reef system whichremained poorly explored because of technology, access and finance limitations in past mining eras. In moderntimes, these factors also present operational challenges for testing these targets through surface drilling. TheCompany has been able to circumvent these challenges by drilling below the 100-metre threshold in order to: Achieve the most optimal position from which to test exploration targets, Maintain a closed-circuit system for drilling fluids, Ensuring that there is no disturbance to any surface features or community during operations, Reduce costs and low value drill metres and at the same time increase accuracy & intercept frequency by bringing the target closer to the drill platform. Announcement • Nov 24
Cauldron Energy Limited Announces the Results of Its New Passive Seismic Survey Completed At the Flagstaff Prospect Cauldron Energy Limited announced the results of its new passive seismic survey completed at the Flagstaff Prospect (Flagstaff), within the Yanrey Uranium Project. The Company applied its predictive, system-style exploration model to design the survey. The model was generated from the review of all combined geoscientific datasets between 2015 and 2017. Crucial to this development was the understanding of mineralisation controls in the Bennet Well Uranium Deposit (Bennet Well), comprising a Mineral Resource (JORC 2012) of a total 31 Mlbs (38.9 Mt) at an average grade of 360 ppm eU3O8 (using a 150ppm lower cut-off). The exploration model is important Intellectual Property in the understanding of this style of sandstone-hosted, palaeochannel-type, uranium deposit which is highly amenable for In-situ Recovery (ISR) style mining. The 2021 passive seismic results highlighted multiple new targets over areas of unusual basement complexity. This structural information will assist in further developing the systems-style exploration model. Despite the restrictions put on uranium explorers by the current political climate in Western Australia, the completion of the passive seismic surveys prove that Cauldron is still dedicated to progressing the Yanrey Uranium Project as much as it possibly can. Board Change • Oct 11
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Chenchong Zhou was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 01
Full year 2021 earnings released: AU$0.002 loss per share (vs AU$0.005 loss in FY 2020) Full year 2021 results: Net loss: AU$669.5k (loss narrowed 59% from FY 2020). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Jun 25
Cauldron Energy Limited Receives Consent from Melbourne Water Necessary to Conduct Planned Exploration At the Blackwood Gold Project Cauldron Energy Limited announced that it has received consent from Melbourne Water, the final regulatory step required for the Company to initiate its exploration operations. The Company also has completed a planned executive transition reflecting a move to being more operationally focussed exploration activities. Receipt of Melbourne Water's consent to the Company's application for Minor Works on or near waterways, MWA-1208356, is the final regulatory step required for the exploration operational activities in and around the Tyrconnel portal. The Tyrconnel adit bisects both the Eastern and prolific Western reef systems around 100 m below surface, underneath a cluster of shaft collars installed by historic miners. This provides the geologists the ideal platform to test both the up-dip and down-dip extension of this zone of known high grade gold mineralisation. Compared to drilling from surface, these drillholes are significantly shorter in length, thus reducing cost, and importantly provides no interruption of the enjoyment of the local community living at Barry's Reef. It also demonstrates how mining exploration and potentially mining can proceed in the area providing jobs and enhancing the economy. Announcement • Jun 01
Cauldron Energy Limited (ASX:CXU) completed the acquisition of River Sand Leases located at Carnarvon, Onslow and Derby Rivers in Western Australia from Onslow Resources Pty Limited, Regent Point Pty Ltd, Quarry Park Pty Ltd and Anthony Warren Slater. Cauldron Energy Limited (ASX:CXU) entered into an acquisition agreement to acquire river sand leases located at Carnarvon, Onslow and Derby Rivers in Western Australia from Onslow Resources Pty Limited, Regent Point Pty Ltd, Quarry Park Pty Ltd and Anthony Warren Slater for AUD 1.8 million on December 22, 2020. Under the terms of the acquisition agreement, Cauldron Energy Limited will issue 20 million fully paid ordinary shares, 4 million shares will be issued within 2 business days of Cauldron obtaining shareholder approval on January 29, 2021, 8 million shares will be issued on the transfer of the last Granted Tenements to Cauldron and remaining 8 million shares will be issued on the transfer of the last of the Tenement Applications to Cauldron, production payments of AUD 0.25 million for the Carnarvon tenements upon the entering into of commercial production at Carnarvon, AUD 0.25 million for the Derby tenements upon the entering into of commercial production at Derby and AUD 0.5 million for the Onslow tenements upon the entering into of commercial production at Onslow to be settled in cash or shares (based on an assumed share price of AUD 0.035) by mutual agreement and a royalty equal to AUD 1 per tonne or 2% of sales revenue (calculated based upon FOB prices) where Cauldron elects to undertake a mining operation as defined in the acquisition agreement. On February 01, 2021 the initial shares of 4 million were issued by Cauldron. The acquisition agreement is subject to a number of conditions precedent including shareholder approval of Cauldron Energy. On January 29, 2021 Claudron receive the approval of its shareholders.
Cauldron Energy Limited (ASX:CXU) completed the acquisition of River Sand Leases located at Carnarvon, Onslow and Derby Rivers in Western Australia from Onslow Resources Pty Limited, Regent Point Pty Ltd, Quarry Park Pty Ltd and Anthony Warren Slater on June 1, 2021. Under the SPA, the second tranche issue of 8 million fully paid shares was due and payable upon transfer of the granted licenses. CXU has taken ownership of all licenses except mining lease M08/487, which is pending the outcome of a proceedings and will require ministerial approval prior to being transferred. Cauldron and the vendor have agreed to modify the second tranche script payment to issue 4 million shares now and the balance of 4.0 million shares when M08/487 is successfully transferred. Cauldron is now the legal and registered 100% owner of exploration licenses EL08/2328, EL08/2329 and EL08/2462 and miscellaneous license L08/71 all located at the mouth of the Ashburton River, following DMIRS registration of the transfer of ownership to Cauldron. Announcement • Mar 19
Cauldron Energy Limited Receives Approval for High Priority Drilling & Sampling Program Cauldron Energy Limited advised that its program of work to target modelled high-grade plunges below the Sultana, Sultan and North Sultan shafts has been approved by the Victorian Earth Resource Regulation (ERR) department ahead of company expectations. This approved program of work allows access to the 1.5km walk-in level drive directly underneath historically mined areas via the Tyreconnel Adit; which was rehabilitated late in calendar year 2020. The drive crosses at right angles across the Eastern lodes including Annie Laurie and Grace Edgerton systems into and across the Western lode system, hosting Pioneer, Mounters and Sultan shaft etc. This drive also allows physical access to the key northern shaft areas of Pioneer and Mounters which were stopped by lack of pumping technology. Accessing these areas for sampling grows the geological understanding but may also open up the area for potential production without significant time or cost. Announcement • Mar 15
Cauldron Energy Limited Announces That Cauldron Has Received Feedback That Program of Work Accessing the Significant Historical Underground Workings Below the Sultana, Sultan and North Sultan Cauldron Energy Limited (Cauldron or the Company) advised that Cauldron has received feedback that its program of work accessing the significant historical underground workings below the Sultana, Sultan and North Sultan shafts is progressing through the Victorian Earth Resource Regulation (ERR) department's approval system. This program of work with go ahead expected mid-year accesses this unique and extensive 1.5km level drive from the Tyreconnel Adit lying perpendicular across the Eastern lodes including Annie Laurie and Grace Edgerton systems into and across the Western lode system. The ability to access the Tyreconnel drive offers Cauldron the following advantages: a) Ability to isolate activities from the environment and community in the area b) reduces the length of drill holes by approximately 100m - vastly improving cost efficiency per ore-body intersection c) provides direct access to the orebodies allowing channel sampling of the numerous gold reefs that the drive crosses providing information in a cost effective and timely manner. Notably this is an access into numerous orebodies that have not been re-accessed for over 100 years, historical mining in 1860's requiring high mining grades by today's standards and expected to have extensive remanent gold making significant margin at today's gold prices without requiring the capital cost of shaft or decline access. In fact, multiple shaft accesses into the reef systems do exist and can be utilised in future work programs once the high-grade plunges have been targeted by the highly cost-efficient underground diamond drill program. Historical reports indicate that lack of water pumping technology stopped continued down plunge mining of the high-grade shoots providing the Company with a high expectation for the multiple drill targets. The Company's development strategy is to have minimal surface impact and communicate this program with the local community at each step. This low impact approach for both community and environment is crucial as Cauldron's personnel will form an integral part of this community. Cauldron's vision at Blackwood is to combine the best of traditional mining methods used in the Blackwood mines, which in later years used handheld compressed air drilling mining methods in conjunction with modern battery driven transport systems, thereby designing out the typical environmental impacts of mining with hydrocarbons. Announcement • Feb 12
Cauldron Energy Limited Gains Approval to Test High Quality Targets Cauldron Energy Limited announced that its carefully designed drilling proposal has been conditionally approved by Victorian regulators. Earth Resources Regulation (ERR) and the Department of Environment, Land, Water and Planning (DELWP) has approved the low impact surface drilling proposal, subject to a review of the communication plan and the commitment to further engagement with local community which the Company initiated late last year. Cauldron's drilling plan aims to test the highly prospective area around Rogers Big Hill, Eldorado and Homeward Bound. In addition, Cauldron has plans to drill test further high priority targets to the north, near Barry's Reef. Because this work is not defined as low impact exploration the regulatory approval process is lengthy and remains to be finalized. This work proposal involves drilling from underground using platforms established in the Tyreconnel Adit. Cauldron continues to engage with various departments to obtain approval to drill test the lodes comprising Barry's Reef. Cauldron has engaged with drilling contractors suitable to complete the exploration programs. It is noted that drilling activity is currently in very high demand and drilling contractors are in short supply. Cauldron preferably seeks to complete both drilling programs (at Barry's Reef and in the Rogers Big Hill area) concurrently, if the approval for the underground work at Barry's Reef is received soon, but will not delay drill-testing of Rogers Big Hill, Eldorado and Homeward Bound. Announcement • Dec 30
Cauldron Energy Limited, Annual General Meeting, Jan 29, 2021 Cauldron Energy Limited, Annual General Meeting, Jan 29, 2021, at 10:00 W. Australia Standard Time. Location: Unit 47, Level 1, 1008 Wellington Street, West Perth Australia Agenda: To consider ADOPTION OF REMUNERATION REPORT; To consider RE-ELECTION OF DIRECTOR; To consider RATIFICATION OF PRIOR ISSUE OF SHARES; To consider RATIFICATION OF PRIOR ISSUE OF FREE ATTACHING OPTIONS; To consider RATIFICATION OF PRIOR ISSUE OF SHARES AND OPTIONS; To consider INITIAL PAYMENT SHARES; and to consider APPROVAL OF ADDITIONAL 10% PLACEMENT CAPACITY. Announcement • Dec 23
Cauldron Energy Limited (ASX:CXU) entered into an acquisition agreement to acquire river sand leases located at Carnarvon, Onslow and Derby Rivers in Western Australia from Onslow Resources Pty Limited, Regent Point Pty Ltd, Quarry Park Pty Ltd and Anthony Warren Slater for AUD 1.8 million. Cauldron Energy Limited (ASX:CXU) entered into an acquisition agreement to acquire river sand leases located at Carnarvon, Onslow and Derby Rivers in Western Australia from Onslow Resources Pty Limited, Regent Point Pty Ltd, Quarry Park Pty Ltd and Anthony Warren Slater for AUD 1.8 million on December 22, 2020. Under the terms of the acquisition agreement, Cauldron Energy Limited will issue 20 million fully paid ordinary shares, production payments of AUD 0.25 million for the Carnarvon tenements upon the entering into of commercial production at Carnarvon, AUD 0.25 million for the Derby tenements upon the entering into of commercial production at Derby and AUD 0.5 million for the Onslow tenements upon the entering into of commercial production at Onslow to be settled in cash or shares (based on an assumed share price of AUD 0.035) by mutual agreement and a royalty equal to AUD 1 per tonne or 2% of sales revenue (calculated based upon FOB prices) where Cauldron elects to undertake a mining operation as defined in the acquisition agreement. The acquisition agreement is subject to a number of conditions precedent including shareholder approval. Reported Earnings • Oct 01
Full year earnings released - AU$0.0047 loss per share Over the last 12 months the company has reported total losses of AU$1.63m, with losses narrowing by 49% from the prior year. Announcement • Sep 26
Cauldron Energy Limited Hones in on High Quality Exploration Targets Cauldron Energy Limited advised of its progress in identifying prospects of high value with significant potential to expand the existing Mineral Resource at its Blackwood Goldfield project. The results of a project wide and comprehensive data collation, compilation and interpretation of historic data has highlighted the potential of Rogers Big Hill, in the as priority for targeted testing. This prospect provides Cauldron the opportunity to help achieve its twin goals of expanding the Mineral Resource and finding the fastest method to commence underground mine production to generate cashflow. The largely forgotten Blackwood Goldfield has been inactive since the late 1980's, but contains in excess of 250 underground workings, predominantly mined during the Victorian goldrush of the 1850's. Many of the mines were significant operations venturing up to 100 m below surface; the most significant operation, the Sultan Mine, worked to an estimated depth of 230 m before water ingress halted mining. The exploration model built from the data compilation shows the Central area of the tenement as having a geological system like that of the Sultan to the north. Promisingly, there is a parallel stack of reefs which dip west, plunge south. The reefs are open north and south along-strike and open down-plunge towards depth. This Central area is referred to as Rogers Big Hill and comprises three historical mining zones namely; Rogers Big Hill, Eldorado and Homeward Bound. Rogers Big Hill is a high-quality advanced exploration prospect evidenced by its high grade and potential for extension. The potential exists to increase Mineral Resource because the area shows a geological pattern like the Sultan where multiple parallel lodes trend in a corridor toward the north and south, reminiscent of those found elsewhere in the Victorian goldfields. 