Announcement • Aug 14
DMC Mining Limited has withdrawn its Follow-on Equity Offering in the amount of AUD 5.5 million. DMC Mining Limited has withdrawn its Follow-on Equity Offering in the amount of AUD 5.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 110,000,000
Price\Range: AUD 0.05
Discount Per Security: AUD 0.003
Transaction Features: Subsequent Direct Listing Announcement • Sep 26
DMC Mining Limited, Annual General Meeting, Nov 22, 2024 DMC Mining Limited, Annual General Meeting, Nov 22, 2024. Announcement • Aug 23
DMC Mining Limited Announces Directors Appointments DMC Mining Limited announced that at its General Meeting of Shareholders held on 23 August 2024, the shareholders approved Appointment of Director Michael Minosora, Appointment of Director Sam Randazzo, 9 Appointment of Director Dr Andrew Wilde. Announcement • Jun 27
DMC Mining Limited has filed a Follow-on Equity Offering in the amount of AUD 5.5 million. DMC Mining Limited has filed a Follow-on Equity Offering in the amount of AUD 5.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 110,000,000
Price\Range: AUD 0.05
Discount Per Security: AUD 0.003
Transaction Features: Subsequent Direct Listing Announcement • Nov 22
DMC Mining Limited Announces Board Changes DMC Mining Limited announced the appointment of Mr. Andrew Dawes as Non-Executive Director (Technical) of the company. Mr. Dawes has over 14 years of experience as a geologist in mining, exploration, and resource estimation and is a member of the AusIMM. His extensive practical experience includes projects in copper, gold, coal, cobalt, silver, PGEs, lithium, zinc, chromite and tungsten in both open pit and underground mining. Andrew's background is focused on developing the true value of an orebody via sound orebody knowledge exploration and evaluation. Mr. Dawes experience through the mining project cycle includes early- stage target generation, green and brownfields exploration, project studies, development execution, mining, reconciliation, and closure planning. His exploration experience includes all facets of mineral and coal exploration and has provided a strong basis for project evaluation. Mr. Bruce Franzen has resigned on November 22, 2023 as a Non-Executive Director of the Company following the nomination and election of Mr. Dawes at the Annual General Meeting. Mr. Franzen remains in the roles of Company Secretary and Chief Financial Officer. Announcement • Sep 27
DMC Mining Limited, Annual General Meeting, Nov 22, 2023 DMC Mining Limited, Annual General Meeting, Nov 22, 2023. Board Change • Sep 22
No independent directors There are 3 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: 3 new directors. No experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Company Secretary & Non-Executive Director Bruce Roberts Franzen is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. New Risk • Sep 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$2.2m 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$2.2m free cash flow). Revenue has declined by 86% over the past year. Revenue is less than US$1m (AU$20k revenue, or US$13k). Market cap is less than US$10m (AU$2.87m market cap, or US$1.84m). New Risk • Sep 10
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. 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 Revenue is less than US$1m (AU$142k revenue, or US$90k). Market cap is less than US$10m (AU$2.87m market cap, or US$1.83m). Minor Risk Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Announcement • Jan 25
DMC Mining Limited Updates the Market on Exploration Results for the Ravensthorpe Nickel Project DMC Mining Limited updated the market on exploration results for the Ravensthorpe Nickel Project (RNP). Results of recent MLEM and FLEM surveys following up the RAV 9 and RAV 11 Xcite airborne EM targets have delineated high-priority conductivity anomalies associated with what are interpreted to be buried komatiite volcanic sequences. 3 high-priority electromagnetic (EM) conductivity targets have been identified, one at RAV 9 and two at RAV 11. The conductors are associated with magnetic anomalies and indications from surficial geology and geochemistry interpreted to represent buried komatiite lava sequences. Results from the MLEM and FLEM surveys will be followed up by diamond drilling to test the anomalies for potential nickel sulphide mineralisation as soon as permitting is in place. Vortex Geophysics were contracted to complete the ground EM surveys at the RNP. Ground EM follow- up on Xcite airborne AEM priority anomalies RAV 9 and RAV 11 comprised: RAV 9: a single line of MLEM and three lines of FLEM oriented north-south across the Xcite EM anomaly. RAV 11: 12 lines of FLEM oriented east-west across the Xcite EM anomaly (Figure 2b). Surface geochemistry conducted over the target areas returned high values for nickel and cobalt consistent with buried ultramafic lithologies but remain inconclusive as to sulphide potential. This is not seen as a negative as nickel sulphide systems are often closed geochemically and entirely contained within the target ultramafic host with little to no wall rock leakage or "halo" of the target metals. Unless intersected by the weathering profile, such buried sulphide systems may be geochemically blind to surface sampling and not return anomalous metal values in geochemical data. At RAV 9, initial survey design was to collect multiple inside transmitter loop, MLEM traverses over the anomaly in a north south orientation. For technical and logistical reasons, the survey designed was converted to FLEM after the completion of line 240320e which was affected by Induced Polarisation (IP) effects. However, despite this the MLEM recorded a significant late time anomaly. Follow-up with FLEM delineated a discrete conductor beneath Line 240350e with further potential conductors apparent in the late time Channel 30 response trending towards the east. At RAV 11, twelve lines of east-west oriented FLEM were read over the original AEM Xcite anomaly from two transmitter loops. The survey data recorded a strong anomaly with the response observable past at very late read time over multiple lines. Modelling and processing of the of FLEM survey data has defined three discrete conductors, two of which are highly conductive and represent priority 1 targets. The third is of moderate to low conductance and isn't considered a high priority for immediate follow-up work. The best conducting anomaly (S1) correlates with the boundary of the modelled westerly dipping magnetic body interpreted to represent buried komatiite volcanics. The other good conductor (N1) appears to be slightly displaced from the modelled magnetic body. The EM plates will be tested with diamond drilling. Planning is underway for a program of holes to test the anomalies once appropriate permitting has been completed. Borehole EM will be conducted once drilling is completed, as well as extension of the FLEM to the east of the current RAV 9 FLEM survey. The Ravensthorpe Nickel Project (DMC 100%, EL 74/669) is located in a highly prospective geological setting for nickel sulphide deposits. The Project has at least 15km strike length of the Bandalup ultramafic rock, the target host rocks that are prospective for Kambalda-style nickel sulphide deposits. The Project is very well serviced by roads, power, and other necessary mining infrastructure. Announcement • Dec 20
DMC Mining Limited Uncovers Lithium Potential Within Fraser Range Projects DMC Mining Limited update the market on a review the Company has recently completed. The review included historical open-source exploration data (WAMEX) and satellite spectral image processing for Li (Lithium) targeting within the Fraser Range tenement package (tenements). The area surrounding the tenement package to the south show several Li occurrences giving credence of the potential for the area. Historical exploration over the area has been strongly focused on gold, however some available datasets did include multi-element geochemistry data to support DMC's observations that geological units within the Fraser Range tenement package could have potential to host pegmatites. This is supported with pegmatite observations on geological maps/drill logs surrounding the DMC tenements but also suggests cover could be masking outcrop observations more regionally. Over 31,000 historical geochemical data points were reviewed from the region to develop a detailed understanding of some of the geochemical relationships. These sample points covered all key geological units, contacts, and structures however only approximately 20% of these points fall within the DMC tenement package. Given the sparse geochemical data, spectral processing over the tenements was completed tounderstand if there is a spatial relationship between spectral responses and known surrounding Li occurrences. Sentinel-2 unmixing VNIR/SWIR imagery was used in multivariate analysis to classify each pixel and weight its Li potential given the spectral responses relative to these known surrounding occurrences. These classification methods incorporate the top 16 unmixed endmembers to known mineral absorption wavelength libraries from the United States Geological Survey. The classes are defined at a pixel scale and 10m pixel resolution is available from the Sentinel-2 satellite. Announcement • Nov 25
DMC Mining Limited Updates the Market on Exploration Results Received from Its Gibb River Cu Project 1 (Project) (In Application) in the East Kimberley Region of Western Australia DMC Mining Limited updated the market on exploration results received from its Gibb River Cu Project 1 (Project) (in application) in the East Kimberley region of Western Australia. Rock chip and soil results received are from an initial field reconnaissance trip conducted in July 2022 which aimed to investigate and test historic reports of copper anomalism at the geological contact of the Middle and Lower Members of the Pentecost Sandstone Formation (Pkpm and Pkpl respectively). A total of 27 rock and 11 soil samples were collected during the reconnaissance trip. Anomalous results received are detailed below in Figure 1 below. Work conducted focused on the accessible portion of the DMC tenement package along the Gibb River-Wyndham Road section within E 80/5781 (Refer Figure 2). This is a location where historical 1970's drilling was completed, intersecting up to 2,244 ppm Cu (Refer Figure 1). The initial samples across the Middle and Lower Pentecost formations confirms the prospective horizon, and the surface geochemistry associated with this horizon. This is the same anomalism as detected by Durack Mines prior to their drilling campaign in 1971 (Refer Figure 3). Comparing the geochemical results with the GSWA interpreted bedrock geology (1:500k scale) and 1:250k geological map sheets for the project, It becomes very apparent that the anomalism is trending along the Pkpl Pkpm contact with grades increasing to the east (Figure 1 and Figure 4). This is an easy geological contact to recognise in the field as it forms a low-level ridge, as seen in Figure 4. DMC has recently updated the market on sampling of legacy Exploration Incentive Scheme (EIS) funded drillhole KCDD19001. Logging confirmed the presence of sulphide minerals hosted in veins and fractures of the Carson Volcanic unit. Sampling of the Carson Volcanic Unit and contact with the Warton Sandstone has been completed, and samples have been received by the laboratory. Results are expected late January 2023 and the market will be updated at this stage. The Company will also take steps to progress the application through to granting. The Company confirms that it is not aware of any new information or data that materially affects the information included in this document and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. Board Change • Nov 16
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. 3 non-independent directors. Executive Chairman David Sumich was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Sep 30
DMC Mining Limited, Annual General Meeting, Nov 25, 2022 DMC Mining Limited, Annual General Meeting, Nov 25, 2022. Announcement • Jul 26
DMC Mining Limited Provides Update on Exploration Planning for Fraser Range Project and Ravensthorpe Nickel Project DMC Mining Limited provided update the market on exploration planning for the Fraser Range Project (FRP) and the Ravensthorpe Nickel Project (RNP). Contractors have been engaged to commence surveys over a number of high priority target areas consistent with potential for buried nickel-copper-cobalt mineralisation. The surveys are expected to commence in the second week of August. Results from the geochemical and ground geochemical surveys conducted will then be followed up by diamond drilling to test the anomalies for potential nickel sulphide mineralisation. Technical Summary: Planning is underway to start field work on the ground in early August to test the priority targets identified on the FRP and the RNP. A program of geochemical sampling and ground EM geophysics will test the anomalies and advance the targets to drill testing. The company has engaged contractors to carry out the work programs as detailed below as soon as feasible, with field work slated to commence in the second week of August. On the FRP, soil geochemistry will consist of infill survey on a 200m x 200m grid. The surveys will first cover the 3 priority target areas C2, C3 and D10 (Figures 1 and 2). Other areas will also be surveyed in areas where past work only gave poor data quality unsuitable for targeting or in areas where previous sampling was in media, mainly calcrete, poorly suited to nickel sulphide exploration. The limited sparse effective previous soil geochemistry in these regions does indicate trace element anomalism in areas consistent with potential for buried mafic-ultramfic intrusive complexes and associated potential for nickel sulphide. In all some 3,197 sample points are planned. Gyro Drilling has been contracted to carry out the soil sampling program, and samples will be sent for geochemical analysis to Bureau Veritas in Perth. Simultaneous to the soil sampling program, ground geophysics will be conducted over the priority targets identified. DMC has tendered the geophysical program and is in the process of finalising the contractor engagement to conduct the work alongside the geochemical sampling program. The geophysical survey will consist of (in order of survey priority): Target C2 - MLEM across the target. 200m loops, 100m station spacing over 10 lines at 1.8km long for 18 line km of survey. Target C3 - Fixed loop electromagnetics (FLEM) due to space restrictions on the tenement boundary preventing use of MLEM. 3 800m x 800m transmitter loops, 100m spaced receiver startions on 100-200m spaced lines approximately 1-1.5 km long for 24 line km in total. Target D10 - FLEM due to space restrictions on the tenement boundary preventing use of MLEM. 2 750m x 500m transmitter loops, 100m spaced receiver stations on 100-200m spaced lines 1-1.5km long for 18 line km total. Target C4 - MLEM across the target. 200m loops, 100m station spacing over 4 lines at 1.5km long for 6 line km of survey. Target C5 - MLEM across the target. 200m loops, 100m station spacing over 2 lines at 1.5km long for 3 line km of survey. On the RNP, soil geochemistry will consist of 100m x 50m sampling grids over three priority target areas identified from ground reconnaissance follow-up on the results of the 2021 high-resolution helicopter- borne time domain electromagnetic (EM) and magnetic (XciteTM) survey covering all the RNP (Figure 4 and Figure 5). The three priority areas have been chosen where reconnaissance follow-up identified areas of shallow bedrock with abundant ultramafic (peridotite, dunite and spinifex textured komatiite) lithologies consistent with the target nickel sulphide komatiite channel facies host geology. In all some 1,251 sample points are planned. CSA Global Pty Ltd. has been contracted to carry out the soil sampling program, also beginning in second week of August, and samples will be sent for geochemical analysis to Bureau Veritas of Perth. The company is in the process of planning follow-up geophysical surveys over the priority conductivity targets identified at Ravensthorpe, and it is anticipated that the same geophysical contractor will carry out the work following-on from the program at the FRP. Fraser Range Project: The Fraser Range Project is a consolidation of 10 granted tenements (Figure 3) with a combined area of approximately 873km2, - being one of the largest strategic landholdings of held by any junior explorer in the Fraser Range. The tenements comprising the Fraser Range Project is situated within the highly prospective Proterozoic Albany-Fraser Orogen (AFO). The AFO hosts and is prospective for a range of mineral deposit styles, including: magmatic nickel-(copper-cobalt) mineralisation, as exemplified by the Nova nickel-copper cobalt mine; orogenic gold mineralisation; intrusion-related gold mineralisation; and polymetallic sedimentary exhalative and volcanogenic massive sulphide mineralisation. Ravensthorpe Nickel Project: The Ravensthorpe Nickel Project (DMC 100%, EL 74/669) is located in a highly prospective geological setting for nickel sulphide deposits. The Project has at least 15km strike length of the Bandalup ultramafics, the target host rocks that are prospective for Kambalda-style nickel sulphide deposits. The Project is very well serviced by roads, power, and other necessary mining infrastructure. 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. 3 non-independent directors. Executive Chairman David Sumich was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jan 12
DMC Mining Limited Announces Airborne EM Survey Completed At Ravensthorpe Nickel Project DMC Mining Limited announced the completion of a high-resolution helicopter-borne time domain electromagnetic (EM) and magnetic (XciteTM) survey covering all the Ravensthorpe Nickel Project (RNP or the Project). Key Highlights: The 2022 exploration programme at the 100% owned Ravensthorpe Nickel Project began immediately following successful listing on the ASX in late December 2021. A high resolution helicopter-borne electromagnetic (EM) and magnetic survey over the entire 62km2 Ravensthorpe Nickel Project has been completed. A total of 522 line kilometers of data were acquired using line spacings of 100m. Processing of information and results due in coming weeks. The DMC exploration programme has "hit the ground running" at it its 100% owned Ravensthorpe Nickel Project in Western Australia. A total of 522-line kms of data at 100m line spacing was acquired. The survey was completed by NRG Australia, and for the data processing and interpretation, DMC has engaged Resource Potentials Pty Ltd. The Ravensthorpe Nickel Project (DMC 100%, EL 74/669) is located in a highly prospective geological setting for nickel sulphide deposits. The Project has approximately 15km strike length of the Bandalup ultramafics, the target host rocks that are prospective for Kambalda-style komatiitic nickel sulphide deposits. The project is very well serviced by roads, power, and other necessary mining infrastructure. Data processing, modelling, and targeting studies are underway, involving the integration of the new airborne EM data with available historical geophysical, geological and geochemical information. Board Change • Dec 29
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. was the last director to join the board, commencing their role in . The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 22
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Director & Company Secretary Bruce Roberts Franzen is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model.