New Risk • Jun 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$114.3m (US$79.9m) 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 Earnings have declined by 23% per year over the past 5 years. Revenue is less than US$1m (K3.5m revenue, or US$793k). Minor Risk Market cap is less than US$100m (AU$114.3m market cap, or US$79.9m). Board Change • May 21
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. 3 experienced directors. 1 highly experienced director. 1 independent director (3 non-independent directors). Independent Non-Executive Director Maryanne Hasola was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • May 06
Bougainville Copper Limited, Annual General Meeting, May 21, 2026 Bougainville Copper Limited, Annual General Meeting, May 21, 2026. Location: grand papua hotel, mary street, port, moresby, papua new guinea, Australia Reported Earnings • Mar 04
Full year 2025 earnings released: K0.04 loss per share (vs K0.033 loss in FY 2024) Full year 2025 results: K0.04 loss per share (further deteriorated from K0.033 loss in FY 2024). Net loss: K16.0m (loss widened 20% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Board Change • Mar 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Independent Non-Executive Director Maryanne Hasola was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Aug 31
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: -K15m 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 (-K15m free cash flow). Earnings have declined by 16% per year over the past 5 years. Revenue is less than US$1m (K3.3m revenue, or US$789k). Minor Risk Share price has been volatile over the past 3 months (15% average weekly change). Announcement • Jun 26
Autonomous Bougainville Government and people of Bougainville acquired an additional 36.45% stake in Bougainville Copper Limited (ASX:BOC) from Papua New Guinea. Autonomous Bougainville Government and people of Bougainville acquired an additional 36.45% stake in Bougainville Copper Limited (ASX:BOC) from Papua New Guinea on June 26, 2025. After completion of transaction, Autonomous Bougainville Government and people of Bougainville now holds 72.9% stake in Bougainville Copper Limited. The remaining 27.2% share continues to be held by public and institutional investors.
Autonomous Bougainville Government and people of Bougainville completed the acquisition of an additional 36.45% stake in Bougainville Copper Limited (ASX:BOC) from Papua New Guinea on June 26, 2025. New Risk • May 21
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 Risks Earnings have declined by 8.2% per year over the past 5 years. Revenue is less than US$1m (K3.4m revenue, or US$844k). Minor Risk Share price has been volatile over the past 3 months (13% average weekly change). Announcement • Apr 24
Bougainville Copper Limited, Annual General Meeting, May 08, 2025 Bougainville Copper Limited, Annual General Meeting, May 08, 2025. Location: grand papua hotel, mary street, port moresby, papua new guinea, Papua New Guinea Reported Earnings • Mar 01
Full year 2024 earnings released: K0.033 loss per share (vs K0.021 loss in FY 2023) Full year 2024 results: K0.033 loss per share (further deteriorated from K0.021 loss in FY 2023). Net loss: K13.4m (loss widened 62% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Announcement • Jan 14
Bougainville Copper Limited Appoints Johnny Patterson Auna as Chief Executive Officer Bougainville Copper Limited announce the appointment of Mr. Johnny Patterson Auna as Chief Executive Officer (CEO). Mr. Auna, who his Bougainvillean, joined BOC in March 2024 as Chief Financial Officer and Company Secretary. He has also been serving in the role of Acting CEO since July 2024, following the resignation of the late David Osikore. Mr. Auna is a highly regarded executive with more than 30 years' experience in finance and accounting, strategic planning, senior management, and corporate operations in both the private and public sectors in PNG and Australia. He has also served on several boards as both a director and chairman and is a certified practising accountant. Prior to joining BOC, Mr. Auna served as Secretary of the Department of Treasury and Finance with the Autonomous Bougainville Government (ABG). He takes on the CEO role at a pivotal time for BOC as the company moves to a more active operational phase. In February 2024 Bougainville Copper was granted a five-year extension of its EL01 exploration licence in the Panguna mine project area. Mr. Auna's local knowledge and connections across government and the broader community will be invaluable to project advancement. He will continue to act as Chief Financial Officer and Company Secretary until a new appointment for these positions is made. New Risk • Jan 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$156.4m (US$98.2m) 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 Earnings have declined by 1.5% per year over the past 5 years. Revenue is less than US$1m (K3.4m revenue, or US$848k). Minor Risk Market cap is less than US$100m (AU$156.4m market cap, or US$98.2m). New Risk • Aug 31
New major risk - Revenue and earnings growth Earnings have declined by 1.5% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 1.5% per year over the past 5 years. Revenue is less than US$1m (K3.4m revenue, or US$873k). Announcement • Aug 22
Bougainville Copper Limited Announces Demise of David Miringtoro Osikore, Board Member The Directors Management and Staff of Bougainville Copper Limited are deeply saddened by the passing of esteemed colleague and friend David Miringtoro Osikore. David, who was 63, served on the board of BCL since August 2019 and was appointed as Managing Director and Chief Executive Officer in March 2024. Unfortunately, he had to step down from these positions in July due to health reasons but remained on the board up until the time of his passing on 17 August. David brought invaluable local knowledge to his roles with BCL and more than 30 years' experience in the exploration and mining industries in both PNG and abroad. He commenced his career with the Papua New Guinea Department of Mines, attached to the geological survey division, and went on to work with various exploration and mining companies, including previously with BCL. David played a pivotal role in BCL's engagement efforts with landowners and government and his work was instrumental to the awarding in February of a five-year extension to BCL's EL01 exploration licence for the Panguna project area. As a Bougainvillean, he was proud of the progress BCL was making and was optimistic about the potential of the Panguna project and the opportunities this would afford the people of Bougainville. Board Change • Apr 05
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Maryanne Hasola was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 01
Full year 2023 earnings released: K0.021 loss per share (vs K0.017 loss in FY 2022) Full year 2023 results: K0.021 loss per share (further deteriorated from K0.017 loss in FY 2022). Net loss: K8.28m (loss widened 20% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Announcement • Feb 29
Bougainville Copper Limited, Annual General Meeting, Apr 25, 2024 Bougainville Copper Limited, Annual General Meeting, Apr 25, 2024. Location: Port Moresby Port Moresby Papua New Guinea New Risk • Nov 29
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: Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Revenue is less than US$5m (K4.0m revenue, or US$1.0m). New Risk • Aug 02
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$150.4m (US$98.4m) 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: Minor Risks Revenue is less than US$5m (K4.0m revenue, or US$1.1m). Market cap is less than US$100m (AU$150.4m market cap, or US$98.4m). Reported Earnings • Mar 06
Full year 2022 earnings released: K0.017 loss per share (vs K0.015 loss in FY 2021) Full year 2022 results: K0.017 loss per share (further deteriorated from K0.015 loss in FY 2021). Net loss: K6.88m (loss widened 13% from FY 2021). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 06
Full year 2021 earnings released: K0.015 loss per share (vs K0.016 loss in FY 2020) Full year 2021 results: K0.015 loss per share (up from K0.016 loss in FY 2020). Net loss: K6.10m (loss narrowed 7.2% from FY 2020). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 74% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 01
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: K0.015 loss per share (up from K0.016 loss in FY 2020). Net loss: K6.10m (loss narrowed 7.2% from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 28
Full year 2020 earnings released: K0.016 loss per share (vs K0.021 loss in FY 2019) Full year 2020 results: Net loss: K6.57m (loss narrowed 24% from FY 2019). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Jan 14
New 90-day high: AU$0.34 The company is up 10.0% from its price of AU$0.30 on 16 October 2020. The Australian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 22% over the same period. Is New 90 Day High Low • Oct 16
New 90-day high: AU$0.30 The company is up 22% from its price of AU$0.25 on 17 July 2020. The Australian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 2.0% over the same period.