New Risk • Jun 10
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$142.1m (US$99.6m) 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: Major Risks Shareholders have been substantially diluted in the past year (33% increase in shares outstanding). Revenue is less than US$1m (AU$197k revenue, or US$138k). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (AU$142.1m market cap, or US$99.6m). Board Change • May 20
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. 4 non-independent directors. Non-Executive Director Simon Hay was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • May 01
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. 4 non-independent directors. Non-Executive Director Simon Hay was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Feb 06
Lotus Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 76.216689 million. Lotus Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 76.216689 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 35,449,623
Price\Range: AUD 2.15
Discount Per Security: AUD 0.09675
Transaction Features: Subsequent Direct Listing Board Change • Dec 24
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. 4 non-independent directors. Non-Executive Director Simon Hay was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Sep 19
Lotus Resources Limited, Annual General Meeting, Nov 18, 2025 Lotus Resources Limited, Annual General Meeting, Nov 18, 2025. Announcement • Sep 04
Lotus Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 65.23 million. Lotus Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 65.23 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 342,105,264
Price\Range: AUD 0.19
Discount Per Security: AUD 0.0095
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,210,526
Price\Range: AUD 0.19
Transaction Features: Subsequent Direct Listing Board Change • Aug 18
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. 3 non-independent directors. Independent Non-Executive Chairman Michael Bowen 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. Announcement • Mar 04
Lotus Resources Limited Completes Board Transition Lotus Resources Limited announced that Grant Davey has informed the Company of his decision to step down from the Board, with his resignation effective 1 April 2025. Additionally, long-standing director Mark Hanlon has advised the Company that he will leave the Board, effective 30 April 2025. His departure marks a planned change in the Company's broader governance and leadership evolution. Following these changes, the Lotus Resources Board will comprise: Michael Bowen -Non-Executive Chairman; Gregory Bitta- Managing Director;Leanne Heywood -Non-Executive Director;Simon Hay -Non-Executive Director. Board Change • Feb 04
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. 4 non-independent directors. Independent Non-Executive Chairman Michael Bowen 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 • Dec 24
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. 4 non-independent directors. Independent Non-Executive Chairman Michael Bowen 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. Announcement • Dec 12
Lotus Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 130 million. Lotus Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 130 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 267,131,151
Price\Range: AUD 0.25
Discount Per Security: AUD 0.0125
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 252,354,145
Price\Range: AUD 0.25
Discount Per Security: AUD 0.011875
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 514,704
Price\Range: AUD 0.25
Discount Per Security: AUD 0.0125
Transaction Features: Subsequent Direct Listing Announcement • Oct 17
Lotus Resources Limited Approves the Appointment of Keith Bowes as Director Lotus Resources Limited approved the appointment of Keith Bowes as Director, at the AGM held on 17 October 2024. New Risk • Sep 25
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 Australian stocks, typically moving 12% 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 Risks Less than 1 year of cash runway based on free cash flow trend (-AU$11m free cash flow). Revenue is less than US$1m (AU$21k revenue, or US$15k). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (36% increase in shares outstanding). Breakeven Date Change • Sep 23
Forecast breakeven date pushed back to 2027 The 4 analysts covering Lotus Resources previously expected the company to break even in 2026. New consensus forecast suggests losses will reduce by 40% per year to 2026. The company is expected to make a profit of AU$270.0m in 2027. Average annual earnings growth of 72% is required to achieve expected profit on schedule. Announcement • Sep 12
Lotus Resources Limited, Annual General Meeting, Oct 17, 2024 Lotus Resources Limited, Annual General Meeting, Oct 17, 2024. Location: at conference suites, level 1, 140 st georges terrace, perth, western australia Australia New Risk • Mar 29
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: AU$3.2m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (AU$102k revenue, or US$67k). Minor Risks Shareholders have been diluted in the past year (36% increase in shares outstanding). Significant insider selling over the past 3 months (AU$3.2m sold). Recent Insider Transactions • Mar 01
MD, CEO & Director recently sold AU$1.8m worth of stock On the 28th of February, Keith Bowes sold around 6m shares on-market at roughly AU$0.30 per share. This transaction amounted to 28% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Keith's only on-market trade for the last 12 months. Announcement • Feb 29
Lotus Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 30 million. Lotus Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 30 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 100,000,000
Price\Range: AUD 0.3
Discount Per Security: AUD 0.015
Transaction Features: Subsequent Direct Listing New Risk • Feb 26
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 Australian stocks, typically moving 13% 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 Revenue is less than US$1m (AU$102k revenue, or US$67k). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (30% increase in shares outstanding). Announcement • Feb 24
Lotus Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 30 million. Lotus Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 30 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 100,000,000
Price\Range: AUD 0.3
Discount Per Security: AUD 0.015
Transaction Features: Subsequent Direct Listing Buy Or Sell Opportunity • Feb 23
Now 32% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to AU$0.25. The fair value is estimated to be AU$0.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Earnings per share has grown by 61%. Revenue is forecast to grow by 74,555% in 2 years. Earnings are forecast to grow by 9.7% in the next 2 years. Buy Or Sell Opportunity • Feb 08
Now 20% undervalued Over the last 90 days, the stock has risen 47% to AU$0.36. The fair value is estimated to be AU$0.46, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Earnings per share has grown by 61%. Revenue is forecast to grow by 74,555% in 2 years. Earnings are forecast to grow by 9.7% in the next 2 years. Breakeven Date Change • Jan 22
Forecast breakeven date pushed back to 2026 The 2 analysts covering Lotus Resources previously expected the company to break even in 2025. New consensus forecast suggests the company will make a profit of AU$206.4m in 2026. Average annual earnings growth of 86% is required to achieve expected profit on schedule. New Risk • Dec 12
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$8.9m 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$8.9m free cash flow). Revenue is less than US$1m (AU$102k revenue, or US$68k). Minor Risks Shareholders have been diluted in the past year (30% increase in shares outstanding). Significant insider selling over the past 3 months (AU$314k sold). Recent Insider Transactions • Nov 07
Non-Executive Director recently sold AU$314k worth of stock On the 3rd of November, Dixie Marshall sold around 1m shares on-market at roughly AU$0.26 per share. This transaction amounted to 60% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Announcement • Oct 19
Lotus Resources Limited, Annual General Meeting, Nov 28, 2023 Lotus Resources Limited, Annual General Meeting, Nov 28, 2023, at 14:00 W. Australia Standard Time. Location: Level 20, 140 St Georges Terrace, Perth, Western Australia Perth Australia Agenda: To consider the Adoption of Remuneration Report; to consider the Re-election of Director – Michael Bowen; to consider the Issue of Performance Options to Keith Bowes; to consider the Issue of Director Options to Keith Bowes; to consider the Issue of Director Options to Michael Bowen; to consider the Issue of Director Options to Grant Davey; and to consider other matters. New Risk • Oct 18
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.3% 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 Less than 1 year of cash runway based on free cash flow trend (-AU$8.9m free cash flow). Revenue is less than US$1m (AU$102k revenue, or US$65k). Minor Risk Shareholders have been diluted in the past year (2.3% increase in shares outstanding). New Risk • Oct 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.1% 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 Less than 1 year of cash runway based on free cash flow trend (-AU$8.9m free cash flow). Revenue is less than US$1m (AU$102k revenue, or US$65k). Minor Risk Shareholders have been diluted in the past year (2.1% increase in shares outstanding). New Risk • Jul 02
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$12m 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$12m free cash flow). Revenue is less than US$1m (AU$634k revenue, or US$422k). Minor Risk Shareholders have been diluted in the past year (11% increase in shares outstanding). Breakeven Date Change • May 25
Forecast to breakeven in 2025 The 2 analysts covering Lotus Resources expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of AU$71.3m in 2025. Average annual earnings growth of 88% is required to achieve expected profit on schedule. Breakeven Date Change • Mar 15 The 2 analysts covering Lotus Resources previously expected the company to break even in 2025. New consensus forecast suggests losses will reduce by 1.4% per year to 2024. The company is expected to make a profit of AU$71.3m in 2025. Average annual earnings growth of 1.4% is required to achieve expected profit on schedule.
Announcement • Jan 12
Lotus Resources Limited Announces Company Secretary Changes Lotus Resources Limited announced the appointment of Catherine Anderson (B Juris (Hons) LLB (UWA)) as Company Secretary, replacing Mr. Brian Scott. Mr. Scott remains with the Company as Commercial Manager. Board Change • Nov 16
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. 1 experienced director. No highly experienced directors. No independent directors (5 non-independent directors). Non-Executive Director Grant Burnaford Davey is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Breakeven Date Change • Aug 25
Forecast to breakeven in 2025 The 2 analysts covering Lotus Resources expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of AU$51.8m in 2025. Average annual earnings growth of 69% is required to achieve expected profit on schedule. Breakeven Date Change • Jul 01
Forecast to breakeven in 2025 The 2 analysts covering Lotus Resources expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of AU$52.2m in 2025. Average annual earnings growth of 85% is required to achieve expected profit on schedule. Board Change • Apr 27
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. 1 experienced director. No highly experienced directors. No independent directors (5 non-independent directors). Non-Executive Director Grant Burnaford Davey is the most experienced director on the board, commencing their role in 2020. 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 • Apr 27
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. 1 experienced director. No highly experienced directors. No independent directors (5 non-independent directors). Non-Executive Director Grant Burnaford Davey is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Recent Insider Transactions • Apr 20
Non-Executive Director recently sold AU$2.1m worth of stock On the 13th of April, Grant Burnaford Davey sold around 6m shares on-market at roughly AU$0.38 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of AU$5.0m more than they bought in the last 12 months. Recent Insider Transactions • Jan 15
Non-Executive Director recently sold AU$1.3m worth of stock On the 13th of January, Grant Burnaford Davey sold around 5m shares on-market at roughly AU$0.27 per share. In the last 3 months, they made an even bigger sale worth AU$1.7m. Insiders have been net sellers, collectively disposing of AU$2.9m more than they bought in the last 12 months. Recent Insider Transactions • Nov 19
Non-Executive Director recently sold AU$1.7m worth of stock On the 17th of November, Grant Burnaford Davey sold around 5m shares on-market at roughly AU$0.34 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of AU$1.5m more than they bought in the last 12 months. Recent Insider Transactions • May 05
Non-Executive Director recently bought AU$96k worth of stock On the 3rd of May, Grant Burnaford Davey bought around 304k shares on-market at roughly AU$0.32 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$126k more in shares than they have sold in the last 12 months. Reported Earnings • Mar 19
First half 2021 earnings released: AU$0.003 loss per share (vs AU$0.005 loss in 1H 2020) First half 2021 results: Net loss: AU$2.22m (loss widened 108% from 1H 2020). Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has increased by 132% per year, which means it is tracking significantly ahead of earnings growth. Executive Departure • Feb 24
Independent Non-Executive Chairman John Sibley has left the company On the 19th of February, John Sibley's tenure as Independent Non-Executive Chairman ended after less than a year in the role. We don't have any record of a personal shareholding under John's name. A total of 7 executives have left over the last 12 months. Reported Earnings • Oct 02
Full year earnings released - AU$0.046 loss per share Over the last 12 months the company has reported total losses of AU$16.6m, with losses widening by AU$15.7m from the prior year. 
