New Risk • Mar 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$4.5m 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$4.5m free cash flow). Shareholders have been substantially diluted in the past year (38% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (18% average weekly change). Market cap is less than US$100m (AU$23.8m market cap, or US$16.9m). New Risk • Dec 22
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 31% 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 Shareholders have been substantially diluted in the past year (31% increase in shares outstanding). Revenue is less than US$1m (AU$77k revenue, or US$51k). Minor Risk Market cap is less than US$100m (AU$17.3m market cap, or US$11.4m). New Risk • Oct 13
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.9m (US$9.74m) 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 Share price has been highly volatile over the past 3 months (27% average weekly change). Shareholders have been substantially diluted in the past year (31% increase in shares outstanding). Revenue is less than US$1m (AU$77k revenue, or US$50k). Market cap is less than US$10m (AU$14.9m market cap, or US$9.74m). Announcement • Oct 03
Altamin Limited, Annual General Meeting, Nov 28, 2025 Altamin Limited, Annual General Meeting, Nov 28, 2025. 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 (27% average weekly change). Shareholders have been substantially diluted in the past year (31% increase in shares outstanding). Revenue is less than US$1m (AU$153k revenue, or US$101k). 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$19.5m market cap, or US$12.8m). Announcement • Sep 23
Altamin Limited has filed a Follow-on Equity Offering in the amount of AUD 6.463158 million. Altamin Limited has filed a Follow-on Equity Offering in the amount of AUD 6.463158 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 137,065,485
Price\Range: AUD 0.025
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 121,460,818
Price\Range: AUD 0.025
Transaction Features: Rights Offering New Risk • Sep 03
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 19% 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 (19% average weekly change). Shareholders have been substantially diluted in the past year (31% increase in shares outstanding). Revenue is less than US$1m (AU$153k revenue, or US$100k). Market cap is less than US$10m (AU$12.1m market cap, or US$7.88m). Board Change • May 01
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. 1 experienced director. 2 highly experienced directors. 1 independent director (2 non-independent directors). Non-Independent Non-Executive Director Marcello Cardaci was the last independent director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 34% 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 (18% average weekly change). Earnings have declined by 2.5% per year over the past 5 years. Shareholders have been substantially diluted in the past year (34% increase in shares outstanding). Revenue is less than US$1m (AU$151k revenue, or US$94k). Market cap is less than US$10m (AU$14.4m market cap, or US$8.95m). Announcement • Nov 20
Altamin Limited has completed a Follow-on Equity Offering in the amount of AUD 3.255693 million. Altamin Limited has completed a Follow-on Equity Offering in the amount of AUD 3.255693 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 87,843,312
Price\Range: AUD 0.024
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 47,810,546
Price\Range: AUD 0.024
Transaction Features: Rights Offering Announcement • Nov 01
Altamin Limited has filed a Follow-on Equity Offering in the amount of AUD 8.425901 million. Altamin Limited has filed a Follow-on Equity Offering in the amount of AUD 8.425901 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 87,843,312
Price\Range: AUD 0.024
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 263,235,916
Price\Range: AUD 0.024
Transaction Features: Rights Offering Announcement • Sep 30
Altamin Limited, Annual General Meeting, Nov 22, 2024 Altamin Limited, Annual General Meeting, Nov 22, 2024. New Risk • Sep 28
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. 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 Earnings have declined by 6.2% per year over the past 5 years. Revenue is less than US$1m (AU$155k revenue, or US$107k). Market cap is less than US$10m (AU$13.2m market cap, or US$9.09m). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Share price has been volatile over the past 3 months (17% average weekly change). Shareholders have been diluted in the past year (12% increase in shares outstanding). Announcement • Feb 09
Altamin Limited has completed a Follow-on Equity Offering in the amount of AUD 2.356614 million. Altamin Limited has completed a Follow-on Equity Offering in the amount of AUD 2.356614 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 36,405,188
Price\Range: AUD 0.05
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,727,094
Price\Range: AUD 0.05
Transaction Features: Rights Offering Announcement • Jan 08
Altamin Limited, Annual General Meeting, Feb 08, 2024 Altamin Limited, Annual General Meeting, Feb 08, 2024, at 15:00 W. Australia Standard Time. Location: 9 Bowman Street, Level 3, Suite 3.5, South Perth 6151, Western Australia South Perth Western Australia Australia Agenda: To consider issue of shortfall shares to VBS exchange PTY limited ; and to consider other matters if any. New Risk • Dec 24
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 9.3% 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 Earnings have declined by 11% per year over the past 5 years. Revenue is less than US$1m (AU$80k revenue, or US$54k). Minor Risks Shareholders have been diluted in the past year (9.3% increase in shares outstanding). Market cap is less than US$100m (AU$22.3m market cap, or US$15.1m). New Risk • Dec 08
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 Earnings have declined by 11% per year over the past 5 years. Revenue is less than US$1m (AU$80k revenue, or US$53k). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (AU$19.2m market cap, or US$12.7m). Announcement • Nov 15
Altamin Limited has filed a Follow-on Equity Offering in the amount of AUD 2.44823 million. Altamin Limited has filed a Follow-on Equity Offering in the amount of AUD 2.44823 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 48,964,594
Price\Range: AUD 0.05
Transaction Features: Rights Offering Announcement • Oct 05
Altamin Limited, Annual General Meeting, Nov 30, 2023 Altamin Limited, Annual General Meeting, Nov 30, 2023, at 15:00 W. Australia Standard Time. Announcement • Dec 09
Altamin Limited Announces Punta Corna Exploration Licence (EL) in Piedmont, Northern Italy Renewed with an Approved Exploration Drilling Program Altamin Limited announced that the Punta Corna Exploration Licence (EL) in Piedmont, northern Italy has been renewed with an approved exploration drilling program. The licence area has also been expanded by 30% to extend the boundaries south and west to include mapped extensions of the mineralised veins. The EL grants the right to explore for cobalt, nickel, copper, silver and associated metals and importantly provides the necessary permission for the Company to commence drilling. Drilling has been authorised for three main target areas within the EL, both at the highest and lowest elevations on the EL area, to help facilitate drilling year-round, weather permitting. Drill Areas 1 and 2 are at high altitude and can be accessed in the summer months. The EL grants permission for an exploration camp to be setup at these higher altitude drilling areas. Drill Area 3 is at the base elevation situated adjacent to a year-round paved road and focuses on an historically copper-silver rich mining area dating from the medieval period. Together the Punta Corna EL (2,184 hectares) and Balme EL (1,550 hectares) comprise a total project area of over 3,700 hectares with significant potential for further mineral discoveries. The Punta Corna EL is renewed for a three-year period running continuously from the EL's expiration in December 2020 until 20 December 2023, with the intervening two years having been focused on obtaining the positive environmental impact assessment (EIA) decree. Now both licences can be renewed upon application and review solely by the Regional Government of Piedmont as they have already received a positive EIA for the foreseeable drilling and work programs, valid until July 2027. The Punta Corna Project area is located near the northern Italian town of Usseglio, approximately 1.5 hours from the city of Turin. Punta Corna was an important source of cobalt in the 18th Century but was mined at what today would be considered an artisanal scale due to the limited technology available. Recent geological fieldwork conducted by Altamin has demonstrated very similar mineralisation to the Bou Azzer mine in Morocco, currently the world's highest-grade cobalt mine. Exploring for cobalt, nickel, copper, and silver is in alignment with Altamin's strategy to leverage its unique exposure to Italy's underexplored mineral potential, by identifying and securing projects prospective for base and battery metals with potential for commercialisation and value accretion. 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. 2 experienced directors. 2 highly experienced directors. No independent directors (4 non-independent directors). MD & Director Geraint Harris was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Sep 30
Altamin Limited, Annual General Meeting, Nov 28, 2022 Altamin Limited, Annual General Meeting, Nov 28, 2022, at 15:00 W. Australia Standard Time. Announcement • Jun 10
Altamin Provides Update on the Latest Progress with Respect to the Permitting of Its Gorno Zinc Project in Lombardy Province Altamin is providing an update on the latest progress with respect to the permitting of its Gorno Zinc Project in Lombardy province, and its Punta Corna Project in Piedmont, Italy. Following the statutory review of the Company's application for renewal and extension of the Gorno Project's Monica Mining Licence (MML), the Ministry of Ecological Transition and the Ministry of Culture have published online a negative Decree in relation to the environmental impact assessment, or EIA. Whilst the Company is still reviewing the details of the Decree, this will likely result in the MML renewal application lapsing and substantive project tenure being retained under the existing Cime Exploration Licence (Cime EL). Preliminary analysis indicates that the negative Decree arises partly because of opinions raised by stakeholders in relation to the Project's configuration and production rate, which was materially changed from the initial renewal submitted in 2019 to reflect the Scoping Study completed in 2021. The initial application was lodged at the time to prevent the existing MML from expiring and therefore prior to the significant 2021 Gorno Mineral Resource update and Scoping Study. Certain technical aspects in the MML renewal application were not yet sufficiently detailed or the impacts analysed to a level that would ordinarily be addressed in a Definitive Feasibility Study (DFS). These requirements include more detailed visual impact, traffic and noise assessment; the water cycle of the project being assessed through the creation of a detailed hydrogeological model and for underground blasting to be assessed to determine if there will be material surface impacts. The Company can now assess the Decree's feedback in detail, to determine the specific outputs required of the DFS to feed into a new mining licence (ML) application. Any new ML application will therefore be tailored to address feedback gained from the regulators, other stakeholders and the multiple public meetings held during the MML process. The overall impact to the DFS and permitting schedule and therefore final investment decision still needs to be analysed in detail, but initial estimates indicate the delay would be not less than 6 months and not more than 18 months. Announcement • Jun 07
Altamin Limited Announces the Lodgment of Two Further Exploration Licence (El) Applications in the Lazio Region of Central Italy Altamin Limited announce the lodgment of two further exploration licence (EL) applications in the Lazio region of central Italy. The new EL applications are located to the west and southeast of Lake Bolsena, in the province of Viterbo about 80km north of Rome. The areas under both of the EL applications contain high salinity brines with a correspondingly high mineral content. Historical drilling results indicate they are prospective for geothermal power generation, for which the underlying reservoirs have so far remained unexploited. The limited historical sample data reviewed by Altamin to date confirms the potential for lithium content in the brines. If found to be present in sufficient concentration, this could provide an opportunity to commercially extract the lithium for sale to EV customers in the EU as well as the production of geothermal energy for local consumption. The next step is for the Lazio regional government to evaluate the Environmental Impact Assessment (EIS) of the proposed EL work programs. The work programs are similar to those for the Campagnano EL and Galeria EL applications lodged by the Company, both of which have received exemptions from EIS assessment by the Lazio authorities. If the ELs are granted, Altamin will immediately commence a desk-top study involving collection and review of all historical data collected during well construction and subsequent analysis of brine compositions. Exploitation of high-temperature geothermal waters for electricity production is a mature and well understood industry in Italy. The geothermal systems of Tuscany and Lazio are amongst Italy's most prospective areas for commercial energy production. Announcement • May 04
VBS Exchange Pty. Ltd. made an offer to acquire remaining 80% stake in Altamin Limited (ASX : AZI) for AUD 29.9 million. VBS Exchange Pty. Ltd. made an offer to acquire remaining 80% stake in Altamin Limited (ASX : AZI) for AUD 29.9 million on May 3, 2022. The purchase price is AUD 0.095 cash per share. The VBS Exchange currently owns 77,269,650 shares, representing approximately 19.73% of the shares in Altamin. The consideration will be funded by VBS Exchange from its available internal cash reserves of AUD 30 million. Upon completion, VBS Exchange intends to replace the Altamin board with their nominees. The offer is not subject to any minimum acceptance conditions and is only conditional on there being no prescribed occurrences happening in respect of Altamin before the offer closes. Upon acquisition of 90% stake VBS Exchange would proceed with compulsory acquisition on same terms as the offer. Adam Brooks and Emma Cook of Thomson Geer Lawyers acted as legal advisors and Equion capital acted as financial advisor of VBS Exchange. Announcement • Apr 27
Altamin Limited Provides an Update on Recent Work and Activities at the Gorno Zinc Project Altamin Limited provided an update on recent work and activities at the Gorno Zinc Project, and to report the final assay results from the exploration activities completed in the 2021 campaign. Gorno Technical Update: Edilmac srl, Alta's Italian drilling and mining contractor, remobilised to site in early March and will complete pad preparation, ventilation, power and water installations for drilling to restart in early May 2022. The first phase of diamond drilling totals will take place in Forcella West, of approximately 2,500m with later follow-up drilling moving into the northern areas of the mine. These programs are planned to be completed within 2022 and comprise infill drilling intended to upgrade the category of the Mineral Resource Estimate (MRE) ahead of the Definitive Feasibility Study (DFS), and step-out drilling to increase the MRE. In late February 2022, a comprehensive metallurgical test work program commenced with the Wardell Armstrong International (WAI) laboratory in Cornwall, United Kingdom. The drill-core samples for this work were selected to be representative of all styles of mineralisation at high, medium and low grades. The purpose of the test work is to provide base data for the DFS, evaluate simplify and optimise the reagent scheme to potentially increase lead/silver recovery, optimise concentrate economics, and to conduct variability testing on the various mineralisation styles identified. Edilmac successfully mined and crushed approximately 18 tonnes of fresh black shale and limestone hosted mineralisation for additional ore sorting test work at the Tomra Sorting Solution facility in Germany, with results expected during third quarter. Great care was taken to ensure material handling from face to sorter closely replicates the anticipated production conditions. The on-site technical team capability has been strengthened by the appointment of Mr. Marco Milani as Senior Project Manager. Marco is an Italian Mining Engineer with over 40 years of mining and project construction experience both in Italy and abroad. He will be leading and supporting the team at the Gorno Project and will also have special responsibility for several in-country technical projects contributing to the Gorno DFS. Drilling and Channel Sample Results - Ponente and Pian Bracca North: Final assay results from the 2021 exploration campaign returned encouraging results from a number of locations outside of the current MRE. Drill hole POD46 and channel sample CACH04 confirm and extend new occurrences of Pian Bracca thrust style mineralisation, extending the mineralisation some 350m north from the high-grade Pian Bracca Corridor. This delivers a completely new target with mineralisation now potentially extending north and east towards sulphide mineralisation observed in the historical stopes of Malanotte. Planning work has started to open the nearby Cascine portal to allow efficient mobile equipment access to the extensive historical development in this area. Once completed, this will facilitate underground drilling across a broad new front called the Northern Extension Target. In Ponente, immediately below the current MRE lenses of thick mineralisation were intersected by drilling and channel sampling. Channel sampling has also stepped-out and returned high- grade assays to the south-east, which significantly extends the mineralisation outside of the current MRE. These results confirm the presence of several stacked lenses of high-grade mineralisation at Ponente, and this will now be a target for step-out drilling and MRE growth. Highlighted mineral intervals, aggregated mineral widths. The orientation of the mineralisation is thought to be generally dipping to the south-east at approximately 5- 10 degrees, with slight undulation caused by mineralised structures. Some intersections may be biased and true width for these intersections will be confirmed once collar surveys, hole deviation surveys and geological modelling is finalised. Sections provided in the text show reasonably accurate depictions of the attitude of the mineralised horizons, and the angles of drill hole intercepts. Board Change • Apr 27
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. MD & Director Geraint Harris was the last director to join the board, commencing their role in 2019. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Feb 15
Altamin Limited Announces New Lithium in Brine Geothermal Applications ALTAMIN Limited announced that it has lodged applications for two exploration licences (ELs) in the Lazio administrative region of central Italy. The ELs are highly prospective for lithium in geothermal brines and are located at Cesano, about 50km north of Rome. Exploitation of high-temperature geothermal waters for electricity production is a mature and well understood industry in Italy which started at the beginning of the 20th century in Tuscany, to the north of the ELs under application. The geothermal systems of Tuscany and Lazio are amongst Italy's most prospective and from the mid-1970s through to the 1990s more than 800 geothermal wells were drilled mainly in the southern part of Tuscany and northern part of Lazio, including in the Els under application. The average depth of the wells is far below potable water sources, at about 2,000m, and in some cases over 4,000m and this historical drilling is expected to provide an important source of information for project evaluation. In the location of the EL applications the reservoirs are dominated with high salinity brines and the reservoirs remain unexploited for geothermal power with the historical data indicating an immediate opportunity for lithium. Brines in the Cesano area contain significant and elevated lithium values, and early studies conducted in the 1990s suggest the potential feasibility of lithium recovery from these fluids. Test Well Cesano C1 yielded brines from a depth of 1,390m with a lithium content of 350 mg/l and 380 mg/l. For comparison, this exceeds the average 200 mg/l lithium concentrations of the brines of the Salton Sea geothermal field in California which is regarded as the most significant lithium brine resource in the USA. Geothermal lithium is the focus of Alta's proposed exploration in the Cesano district within the following two ELs: The Campagnano EL, of about 1,200 hectares, includes one test well and lies contiguous to, and immediately north and east of an EL granted to Vulcan Energy Resources. Vulcan's core focus is to produce lithium from geothermal brines in the Upper Rhine Valley of Germany and their recently granted EL highlights a new prospective venture into Italy; and The Galeria EL, of about 2,040 hectares, covers an area some 10km to the south of Campagnano, and includes one geothermal well and two test wells. If successfully granted the EL's initial work program will be to obtain and assess the historical geological and technical data from the geothermal wells on the property, including well C-16. Also, to assess the feasibility of resampling and full analysis of the geothermal brines from existing well-holes. Lithium is included, along with cobalt, in the list of 30 critical materials prepared by the European Union for their economic importance and supply risk. Lithium-rich geothermal brines represent an untapped potential resource that can potentially be developed into a valuable supply in Europe. The production techniques for extraction of lithium from geothermal brines are evolving towards commercialisation and the high geothermal gradients present on the ELs under application could assist in meeting some or all of the energy requirements for this process. Application for these prospective lithium in brine licences is in alignment with Alta's strategy to identify and secure value accretive projects for commercialisation by leveraging its unique exposure to the underexplored mineral potential in Italy. If approved, these lithium ELs will take their place in Alta's growing pipeline of base and battery metals projects strategically situated in the heart of Western Europe close to prospective partners, financiers and within easy logistical reach of the downstream consumer market. Announcement • Nov 24
Alta Zinc Limited Announces the Results of A Scoping Study for the Gorno Project Alta Zinc Limited announced the results of a Scoping Study (Study) for the Gorno Project (Gorno Project or the Project) Bergamo, Italy, which has been completed by CSA Global Consultants (CSA) with the assistance of a highly experienced and reputable specialist independent consultants. The Study presents an initial evaluation of the financial viability of the Gorno Project and demonstrates strong production metrics and robust economics. It provides confirmation that the Gorno Project is commercially viable and recommends proceeding to the next stage of feasibility studies. In accordance with the recommendations, the company plans to commence metallurgical test work in early 2022 in parallel with ongoing exploration and resource drilling as part of a Definitive Feasibility Study (DFS) with results expected by the end of calendar year 2022. The current study indicates that pre-development work will start in 2022 with a construction decision mid-2023 and first production early in H2 2024. These timings will be further evaluated and refined in the upcoming DFS. The study is based on the Mineral Resource Estimate (MRE) of 7.79Mt at 6.8% Zn, 1.8% Pb and 32g/t Ag as announced to the ASX on 15 November 2021. The Study delivered the following key results: LOM production target is indicated to be of the order of 6.04Mt at 7.1% Zn, 1.9% Pb and 31g/t Ag recovering 396,000t Zn, 81,800t Pb and 3.4Moz Ag (comprising of 77% Indicated Mineral Resources and 23% Inferred Mineral Resources); LOM concentrate production of zinc: 630,000 dmt (63% Zn) and lead: 108,000 dmt Pb/Ag concentrate (76% Pb and 740g/t Ag); Annual mine production rate of 0.8Mt pa and processing rate of 0.52Mt pa; Mine life of 9 years (plus a 15 to 18 months construction period) averaging USD 67 million of annual free cash-flow during peak production (years 2026 to 2031). Among the lowest projected cost for global primary Zinc producers: Cash cost mining, processing, G&A, transport, TC/RC, royalty of USD 0.54/lb Zn equivalent (Co-product convention); AISC mining, processing, G&A, transport, TC/RC, royalty, sustaining capex of USD 0.60/lb Zn equivalent (Co-product convention). Zinc metallurgical recovery of 93% (including ore sorter) with 80% of revenues from payable Zinc; Estimated initial capital cost, USD 114 million (±35% accuracy) and LOM sustaining capital cost of USD 42 million; Substantially de-risked initial underground capital includes 3,800m of re-used historical development, 890m of existing development being enlarged, 2,880m of new development and 400m of raise-boring; Includes all new processing equipment, underground crusher and conveyors, ore sorters, waste and concentrate loading facilities, train haulage, all surface and underground infrastructure; Re-use of an existing modern factory building and infrastructure to house the processing plant and no surface tailings disposal or waste dumps required; Sustaining capital estimated at USD 42 million (8% of operating cost). Positive financial metrics in the range of: Post Tax Net Present Value (NPV8) of approximately USD 211 million; Post-Tax Internal Rate of Return (IRR) of approximately 50%; Payback period of approximately 3.5 years from final investment decision and approximately 2.5 years from first concentrate production Significant expansion and upside potential beyond Scoping Study: Ongoing exploration drilling will run in conjunction with the DFS, targeting further resources definition and growth expected from the defined Exploration Target estimated as an additional 17.4Mt to 22Mt at grades ranging between 8.5 and 10.4% Zn, 1.9 and 2.4% Pb and 19 and 23g/t Ag from exploration to be undertaken in conjunction with next stage of study. Announcement • Jul 15
Alta Zinc Limited Announces Major Mineral Resource Upgrade At Gorno Alta Zinc Limited announced the updated Mineral Resource estimate (MRE), for its Gorno zinc-lead-silver deposit in the northern Italian Province of Bergamo. The deposit is approximately a 3-hour drive from the main Port of Genoa, and a 1-hour drive from Bergamo International Airport (Figure 2). The MRE was completed by CSA Global Pty Ltd. (CSA Global) in Perth, Australia. HIGHLIGHTS: The total Mineral Resource tonnage has increased by a factor of 2.4x and the zinc grade has increased by 40% compared to the previous (2017) MRE, leading to more than 3.3x the amount of zinc metal contained, of which more than 60% is in the Indicated category; The recent exploration program of 85 diamond core holes (totalling 6,231m) and 34 channel samples were completed from underground workings in 15 months, adding an additional 4.5Mt (> 1% Zn COG) of Mineral Resources. This equates to 721 tonnes per metre drilled and almost 4x the tonnage yield of the 2017 MRE (188t/m) and this is a consequence of Alta's improved knowledge of the deposit's geology leading to effective target selection and efficient drilling from pre-existing underground development; The updated MRE will significantly underpin future mining and metallurgical studies, to fast-track the feasibility study and development of the Gorno Project as one of Europe's premier zinc-lead-silver deposits; Gorno's mineralisation remains open in all directions outside of the MRE with numerous step-out targets remaining to be drill tested from current underground development. The large-scale potential of Gorno will be outlined in a dedicated Exploration Target announcement in due course; Drilling remains on-going, focussing on mineralisation outside of the updated MRE, and results will be released as assays become available. Announcement • Jun 22
Alta Zinc Limited Announces Results of Nine Drill Holes POD15 to POD25 and PBD52, and Five Channel Samples (PBSCH01-03 and CACH01-02) Alta Zinc Limited announced the results of nine drill holes POD15 to POD25 and PBD52, and five channel samples (PBSCH01-03 and CACH01-02) which returned multiple intersections of high-grade zinc, lead and silver mineralisation, and extended the known mineralisation at the Ponente West, Ponente Central and Pian Bracca South areas of the Gorno Mine. At the Ponente West area drill results extended the mineralisation a further 180m north and 90m east. More new mineralisation has also been discovered another 260m to the east where channel sampling returned high-grade mineralisation from the Ponente Central area. Additionally, at Pian Bracca South drilling and channel sampling has extended the mineralisation a distance of 90m north towards the Pian Bracca Central corridor. Geological and structural mapping of Pian Bracca South has shown there is a significant mineral enrichment in a N-S direction that is controlled by several faults lying between Pian Bracca and Pian Bracca South, a distance of over 100m. However, as existing development did not provide optimal locations for drilling, channel sampling at three accessible sites was undertaken, all of which returned the following significant results; 2.4m at 26.8% Zn and 6.5% Pb (33.5% Zn+Pb) and 65g/t Ag, (PBSCH01), 2.4m at 21.0% Zn and 6.6% Pb (27.6% Zn+Pb) and 67g/t Ag, (PBSCH02) and 2.6m at 20.0% Zn and 5.0% Pb (24.9% Zn+Pb) and 65g/t Ag, (PBSCH03). Significant mineralisation is clearly visible in many other sidewalls which are currently inaccessible to sample for safety reasons, and these sites will be made accessible and sampled in due course. In Pian Bracca Central, drill hole PBD52 was set-up to cross an untested E-W fault on the southern edge of the corridor, resulting in an unexpected extension of mineralisation to the south returning the following results; 4.8m at 3.1% Zn and 0.7% Pb (3.8% Zn+Pb) from 25.6m, including 1.4m at 5.5% Zn and 1.9% Pb (7.3% Zn+Pb). Announcement • Mar 15
Alta Zinc Limited Expands Exploration Pipeline into Copper & Manganese Alta Zinc Limited announce that it has lodged applications for two exploration licences (ELs) encompassing two of the most commercially significant copper mining districts in Italy. Both licences contain multiple high-grade copper mines that produced a significant portion of Italy's copper and manganese up to the early 1970s. None of the mines or the ELs have been subjected to modern exploration prior to closure. Significant exploration potential exists to expand existing deposits laterally and at depth, and to discover new deposits as shown by analogous Volcanogenic Massive Sulphide (VMS) deposits mined in recent years. This will initially be through the application of low-cost exploration techniques. Most of the mines closed between the 1940s and early 1970s at a time when commodity prices were low and exploration was not deemed a priority. They were largely exploited from underground and at relatively shallow depths focussing on the high-grade mineralisation which outcropped at surface. There is nominally from 10m to 100m of sedimentary cover over most of the target areas, which would have presented exploration difficulties for techniques available at the time. However, this presents highly prospective target areas for the modern exploration techniques that Alta will apply. The mines were typified by their unusually high copper grades, for example within the ELs the average grade mined at Libiola was ca 7% Cu and at the Corchia Mine ca 3-5% Cu. The Monte Bianco EL also contains the old Gambetesa mine which was, at the time, the largest manganese mine in Europe and operated from 1939 to 1971, with mined grades of 28-30% Mn to produce around 50,000t of manganese metal per annum. The ELs are located close to existing infrastructure (roads, centres of population, water and power) and within easy logistical reach of the hub port of Genoa. The EL application areas and the location of the old mines are shown in Figures 3 and 4. The ELs offer year-round exploration access over an extensive historical mining footprint in gently undulating relief below 1,000m level. Hosted within ophiolite country rocks the mineralisation in the VMS systems consists largely of chalcopyrite with associated oxidised copper species, sphalerite, cobalt and gold. This suite of metals is completely aligned to Alta's strategy of becoming an Italian focused base and battery metals explorer and producer, with the location of these ELs relative to existing projects and port of Genoa offering tremendous logistical advantages. Announcement • Feb 22
Alta Zinc Limited Announces Drilling Underway at Ponente Alta Zinc Limited announced that its mining contractor, Edilmac Srl, has started drilling at Ponente, a historical production area of the Gorno Zinc Project. This area hosts a significant north-west extension of the Metallifero Formation, which is the primary host to much of the zinc-lead mineralisation that has also been consistently drilled at Pian Bracca. Drilling at Ponente will progress from west to east, exploring a corridor with an 800m strike length and approximately 300m width. Early drilling is following up on high-grade channel samples taken from the area in April 2020. The channel samples1 adjacent to the current drilling returned: 2.8m at 20.1% Zn, 5.3% Pb, 46g/t Ag (POCH08), 2.2m at 28.8% Zn, 3.2% Pb, 39g/t Ag (POCH09) and 2.0m at 14.9% Zn, 1.4% Pb, 21g/t Ag (POCH10). Alta's mining and drilling contractor, Edilmac, in conjunction with its project team have been responsible for all rehabilitation, mobilisation and establishment work and this has been achieved safely, within budget and on schedule. A drilling campaign has been planned at Ponente which targets the well understood Metallifero Formation from the existing underground access. Initially, 25 short diamond drill holes are required to provide maximum information from just a 1000m campaign. Follow-on drilling will be planned on extensional targets once discovered. This highly efficient campaign is possible because the existing access was historically developed for the purposes of exploration and to be close to the known and expected mineralisation. However, full exploration and exploitation were never carried out due to the premature closure of the mine. Initial results from this new campaign are expected by the end of March. Announcement • Feb 08
Alta Zinc Limited Announces the Assay Results of the 2020 Field Campaign at its Punta Corna Alta Zinc Limited announced the assay results of the 2020 field campaign at its Punta Corna (Project), which included detailed mapping and sampling of seven mineralised main veins historically mined for cobalt, nickel, copper and silver. Once the necessary permits and independent sources of funds have been secured, the Company plans to drill test the targets that have been defined. Taking advantage of the topography and repeating parallel vein structures a number of short holes are planned to intersect multiple mineralised veins. Both the main veins and several new, closely spaced, mineralised sub-veins (splays off the San Giovanni Vein) will be targeted. High-grade cobalt, nickel, copper and silver from recent grab sampling program confirms mineralisation over an approximate 2km strike length. The results from recent vein sampling returned: 5.0% Co, 6.5% Ni, 0.3% Cu, 11g/t Ag, and 5.8% Cu, 405g/t Ag, from San Giovanni Vein samples 603 and 499,1.0% Co, 0.4% Ni, 0.2% Cu and 38/t Ag from San Carlo Vein sample 698, 2.2% Cu and 452g/t Ag, 1.2% Cu and 260g/t Ag from Santa Barbara Vein sample 703 and 704,4.5% Cu and 566g/t Ag, from Speranza Vein sample 614; and 10.0% Cu and 964g/t Ag, from Bocca del Prete Vein sample 701. Hydrothermal veins have been defined over a strike length of approximately 3.5km at Punta Corna, of which the Company has only sampled over some 2km of strike length and a vertical range of 1.3km. Announcement • Jan 20
Alta Zinc Limited Announces the Results of Drill Hole PBD36 and PBD37 Alta Zinc Limited announced the results of drill hole PBD36 and PBD37, which returned multiple intersections of zinc, lead and silver mineralisation from either side of a new drill area, named Pian Bracca South. Pian Bracca South represents both a step out into a new prospective area where no historical exploration has taken place, and a link between the mineralised Pian Bracca Central corridor and the Zorzone Mineral Resource, demonstrating the strong continuity of mineralisation at Gorno. These results are indicative of the significant potential of this new and largely untested southern area (`corridor') of mineralisation. Company recent drilling has succeeded in linking the Pian Bracca mineralised corridor in the south-west to the Zorzone Mineral Resource and extending the distinctive high-grade Pian Bracca mineralisation a further 160m to the south of the nearest previously mineralised drill hole (PBD08) in Pian Bracca Central. As in Pian Bracca Central, the zone appears to be structurally controlled and team is updating structural modelling to understand how that affects the occurrence of mineralisation. The Pian Bracca mineralisation style and rock sequence intersected in PBD36 is very distinct and it matches with the intersections of thrust mineralisation drilled at Pian Bracca Central and also layers of mineralization mapped in nearby underground sidewalls of development. Additional drilling is now planned in this area to expand the footprint and enhance the understanding of high-grade mineralisation trends. Unexpectedly, a recent drill hole (PBD33) intersected a post-mineralisation surface zone of infilled material which appears to show erosion of a portion of the upper mineralised lens. Additional drilling is now being undertaken to enhance the understanding of this area before selected intervals of the drill core are sent to the laboratory for analysis. Alta's drilling and mining contractor, Edilmac, has now successfully rehabilitated the access, installed services and established drilling pads in the Ponente area, located 800m to the north west of Pian Bracca. However, given the successful results at Pian Bracca South have delayed the move of the smaller drill rig to commence the Ponente drilling campaign. Plans are now being made to operate both areas simultaneously with the addition of a second small drill rig. It is hoped that by the end of February the Company will be conducting exploration drilling at both the Ponente and Pian Bracca areas simultaneously. Announcement • Nov 30
Alta Zinc Limited Announces Changes to Its Board Alta Zinc Limited announced changes to its board structure that reflect a streamlining of the company's corporate structure and that, combined with the remuneration review, will deliver a 17% reduction of board and executive personnel costs on an annualised basis. This follows an independent review of the company's non-executive and executive remuneration structure by BDO Australia (BDO) which was commissioned to provide an external exercise in relation to Alta's fixed remuneration and incentives. Following the expiry of his Executive Chairman contract, Mr. Burns' role will transition to Non-executive Chairman with effect from 1 December. In this revised capacity Mr. Burns will continue to have an active role in guiding the strategic direction of the company and remains a committed long-term shareholder and a strong supporter and of the company and its management team. As announced on 27 November, Mr. Campbell Olsen resigned from the board following the AGM. Announcement • Nov 27
Alta Zinc Limited Announces Resignation of Campbell Olsen as a Director Alta Zinc Limited announced that Mr. Campbell Olsen has resigned as a director of company following the conclusion of the Annual General Meeting, effective November 27, 2020. Announcement • Sep 24
Alta Zinc Limited's New High-Grade Results Demonstrate Growth At Gorno (Update) Alta Zinc Limited announced the results of sampling from new mineralised areas that significantly expand the exploration footprint at the greater Gorno project. This includes recent sampling that was undertaken at Arera and extensions at Fontanone and the Zorzone resource areas. These results confirm the presence of high-grade sulphide mineralisation throughout the greater Gorno project area and expand the range of new targets for the Company. The analysis of historical drilling data from Fontanone and Zorzone confirms the same stratabound mineralisation style to that identified at Pian Bracca. These zones were previously considered to be discrete pods however, recent structural analysis indicates they occur in a common stratabound horizon which has had only limited historical drilling and therefore retains the potential for more extensive high-grade areas. A revised structural model of the greater Gorno Project extends the cur ent exploration target to now include the Fontanone area, extending for 2.5km of strike length and 750m down-dip, from Pian Bracca. At Fontanone, historical exploration was limited in extent but drilling results to be followed up include: 2.8m at 11.9% Zn and 2.8% Pb (14.7% Zn+Pb) from 20.7m (RP53); 3m at 13.6% Zn and 0.4% Pb (14.0% Zn+Pb) from 20.7m (RP59); and 4.5m at 5.2% Zn and 5.8% Pb (11.0% Zn+Pb) from 20.0m (RP62). High-grade zinc sulphide mineralisation has also been identified at Arera, c. 1.5km east of Pian Bracca. Arera was historically mined principally for zinc oxide mineralisation however massive sulphide mineralisation has now been identified over a 1km sampling length, demonstrating the widespread potential for new primary sulphide mineralisation. Sample results include: 42.1% Zn and 11g/t Ag (AR04) and 16.5% Zn and 9g/t Ag (AR07) from underground sidewalls; 42.8% Zn and 8g/t Ag (AR05) and 34.4% Zn and 2g/t Ag (AR06) from historic `sulphide-waste' dumps; and 33.2% Zn and 4g/t Ag (AR09) and 31.4% Zn and 4g/t Ag (AR10) from surface outcrop samples. Announcement • Sep 03
Alta Zinc Limited has completed a Follow-on Equity Offering in the amount of AUD 2 million. Alta Zinc Limited has completed a Follow-on Equity Offering in the amount of AUD 2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 500,000,000
Price\Range: AUD 0.004
Discount Per Security: AUD 0.00024 Announcement • Aug 28
Alta Zinc Limited announced that it has received AUD 3.562149 million in funding from VBS Exchange Pty. Ltd., RAB Capital Holdings Ltd., Malvasia Pty Ltd, Brevistal Pty Ltd, ASIM Holdings Pty Ltd, and other investors On August 27, 2020, Alta Zinc Limited (ASX:AZI) closed the transaction. The company issued 340,000,000 shares for proceeds of AUD 1,360,000 in its second tranche closing, bringing the total gross proceeds raised in the transaction to AUD 3,562,149. 