Recent Insider Transactions • Jun 02
Non-Executive Director recently bought AU$83k worth of stock On the 29th of May, John Hodder bought around 12m shares on-market at roughly AU$0.007 per share. This transaction amounted to 2.3% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Announcement • Apr 22
Genmin Limited, Annual General Meeting, May 28, 2026 Genmin Limited, Annual General Meeting, May 28, 2026. New Risk • Mar 31
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. 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 (22% average weekly change). Earnings have declined by 33% per year over the past 5 years. Shareholders have been substantially diluted in the past year (290% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Market cap is less than US$100m (AU$20.7m market cap, or US$14.2m). New Risk • Dec 21
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 290% 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 (22% average weekly change). Earnings have declined by 33% per year over the past 5 years. Shareholders have been substantially diluted in the past year (290% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$27.7m market cap, or US$18.3m). Announcement • Dec 18
Genmin Limited has completed a Follow-on Equity Offering in the amount of AUD 25.7 million. Genmin Limited has completed a Follow-on Equity Offering in the amount of AUD 25.7 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 131,942,915
Price\Range: AUD 0.01
Discount Per Security: AUD 0.0006
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,438,057,085
Price\Range: AUD 0.01
Discount Per Security: AUD 0.0006
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Nov 26
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 19% 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 Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings have declined by 33% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$10.2m market cap, or US$6.62m). Minor Risk Shareholders have been diluted in the past year (19% increase in shares outstanding). Announcement • Nov 18
Genmin Limited has filed a Follow-on Equity Offering in the amount of AUD 17.4 million. Genmin Limited has filed a Follow-on Equity Offering in the amount of AUD 17.4 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 132,000,000
Price\Range: AUD 0.01
Discount Per Security: AUD 0.0006
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,608,000,000
Price\Range: AUD 0.01
Discount Per Security: AUD 0.0006
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Nov 17
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$10.6m (US$6.94m) 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 Less than 1 year of cash runway based on free cash flow trend (-US$9.9m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 33% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$10.6m market cap, or US$6.94m). Board Change • Nov 12
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 Director Pietro Amico was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Oct 23
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 14% 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 (-US$9.9m free cash flow). Earnings have declined by 33% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (AU$20.4m market cap, or US$13.3m). New Risk • Sep 13
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: -US$9.9m 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 (-US$9.9m free cash flow). Earnings have declined by 33% per year over the past 5 years. Revenue is less than US$1m (US$6.0k revenue). Minor Risks Shareholders have been diluted in the past year (29% increase in shares outstanding). Market cap is less than US$100m (AU$17.7m market cap, or US$11.8m). Announcement • Jun 03
Genmin Limited announced that it expects to receive AUD 4.6296 million in funding from ID Advisors LLC Genmin Limited announced that it has entered into a non-binding term sheet with ID Advisors LLC to issue unsecured redeemable convertible notes for gross proceeds of AUD 4,629,600 on June 2, 2025. The company will issue a total of 3,000,000 notes and 115,758,605 unlisted options to the noteholder, in two tranches. The issue of the notes and options under the second tranche would be subject to receipt of company shareholder approval for the purposes of ASX listing rule 7.1. The notes have a face value of AUD 1.5432 per note and will be convertible into fully paid ordinary share at conversion price of AUD 0.040. The note will mature on June 30, 2027. The company will issue 1,500,000 notes as well as 28,939,651 unlisted A options with an exercise price of AUD 0.060 and expiring 2 years after the date of their issue and 28,939,651 unlisted B options with an exercise price of AUD 0.080 and expiring two years after the date of their issue for gross proceeds of AUD 2,314,800 in its first tranche and will issue 1,500,000 notes as well as 28,939,651 A options and 28,939,651 B options for gross proceeds of AUD 2,314,800 in its second tranche. The company must redeem all of the notes that have not been converted on the maturity date by paying the outstanding amount attributable to the notes to the noteholder. The note will accrue interest at the rate of 12% per annum. Interest on overdue amounts will accrue at 2% per annum. The transaction has been approved by the board of the company. New Risk • Apr 08
New major risk - Revenue and earnings growth Earnings have declined by 38% 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 Less than 1 year of cash runway based on free cash flow trend (-US$12m free cash flow). Earnings have declined by 38% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (29% increase in shares outstanding). Market cap is less than US$100m (AU$31.9m market cap, or US$19.3m). New Risk • Apr 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 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 Risk Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (29% increase in shares outstanding). Market cap is less than US$100m (AU$39.0m market cap, or US$24.4m). Announcement • Mar 17
Genmin Limited, Annual General Meeting, May 29, 2025 Genmin Limited, Annual General Meeting, May 29, 2025. New Risk • Feb 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 11% 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 Shareholders have been substantially diluted in the past year (79% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (AU$26.6m market cap, or US$16.9m). Announcement • Jan 31
Genmin Limited Announces Resignation of Michael Arnett as Non-Executive Director Genmin Limited (Genmin or the Company) announces that Mr. Michael Arnett has resigned as non-executive director of the Company, effective immediately. Mr. Arnett has been a member of the Board since the Company's admission to the Australian Securities Exchange (ASX) in 2021. In this time, Mr. Arnett has served as Chair of the Board, non-executive director, and served on all of the Board's sub-committees. Following the recent leadership changes, the Board has determined that its composition is appropriate and will not seek to appoint a replacement director. Announcement • Dec 02
Genmin Limited has completed a Follow-on Equity Offering in the amount of AUD 10 million. Genmin Limited has completed a Follow-on Equity Offering in the amount of AUD 10 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 170,000,000
Price\Range: AUD 0.05
Discount Per Security: AUD 0.003
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 30,000,000
Price\Range: AUD 0.05
Discount Per Security: AUD 0.003
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing 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: -US$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 (-US$12m free cash flow). Shareholders have been substantially diluted in the past year (52% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (AU$44.6m market cap, or US$29.9m). Price Target Changed • Sep 10
Price target decreased by 81% to AU$0.09 Down from AU$0.48, the current price target is provided by 1 analyst. New target price is 22% above last closing price of AU$0.074. Stock is down 59% over the past year. The company is forecast to post a net loss per share of US$0.01 next year compared to a net loss per share of US$0.029 last year. Recent Insider Transactions Derivative • Aug 27
Non-Executive Director exercised options to buy AU$32k worth of stock. On the 26th of August, Giuseppe Ariti exercised options to buy 340k shares at a strike price of around AU$0.20, costing a total of AU$68k. This transaction amounted to 1.7% of their direct individual holding at the time of the trade. Since December 2023, Giuseppe's direct individual holding has increased from 19.16m shares to 20.18m. Company insiders have collectively bought AU$101k more than they sold, via options and on-market transactions, in the last 12 months. New Risk • Apr 18
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: US$13m Forecast net loss in 2 years: US$8.6m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Shareholders have been substantially diluted in the past year (52% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$8.6m net loss in 2 years). Market cap is less than US$100m (AU$64.4m market cap, or US$41.5m). New Risk • Apr 02
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 52% 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 Shares are highly illiquid. Shareholders have been substantially diluted in the past year (52% increase in shares outstanding). Revenue is less than US$1m (US$10k revenue). Minor Risk Market cap is less than US$100m (AU$66.5m market cap, or US$43.2m). Board Change • Apr 02
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. 2 highly experienced directors. Independent Non-Executive Chairman Michael Arnett was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Mar 19
Genmin Limited, Annual General Meeting, May 30, 2024 Genmin Limited, Annual General Meeting, May 30, 2024. Agenda: To consider the re-election and appointment of directors. Announcement • Feb 07
Genmin Limited has filed a Follow-on Equity Offering in the amount of AUD 28.271943 million. Genmin Limited has filed a Follow-on Equity Offering in the amount of AUD 28.271943 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 150,511,078
Price\Range: AUD 0.1
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 44,320,000
Price\Range: AUD 0.1
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 87,888,350
Price\Range: AUD 0.1
Security Features: Attached Options
Transaction Features: Rights Offering; Subsequent Direct Listing Announcement • Jan 22
Genmin Limited Announces Chief Financial Officer Changes Genmin Limited announced the appointment of Mr. Ben Bussell, Director and CEO of Minerva Corporate, as Chief Financial Officer of the Company. Mr. Bussell is a Senior Accountant with over 20 years' experience in public accounting, corporate accounting and taxation. He acts as CFO of several ASX-listed and private entities, primarily focused on the preparation of general and special purpose financial reports and managing all aspects of their independent audit and reporting to stakeholders. Ben is a member of the Governance Institute of Australia. Former CFO, Ms. Salina Michels has completed her fixed term tenure with the Company. New Risk • Jun 28
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 14% 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 (-US$21m free cash flow). Earnings have declined by 22% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (11% increase in shares outstanding). Market cap is less than US$100m (AU$74.5m market cap, or US$49.8m). Price Target Changed • Nov 22
Price target increased to AU$0.50 Up from AU$0.45, the current price target is an average from 2 analysts. New target price is 138% above last closing price of AU$0.21. Stock is up 31% over the past year. The company is forecast to post a net loss per share of US$0.017 next year compared to a net loss per share of US$0.01 last year. Announcement • Nov 04
Genmin Limited Appoints Dennis Wilkins as Company Secretary Genmin Limited announced the appointment of Mr. Dennis Wilkins as Company Secretary, effective 2 November 2022. Dennis is the founder and Principal of DWCorporate Pty Ltd. (DWCorporate), a corporate advisory firm servicing the resources industry. He is a highly experienced company secretary with a strong background in mining and exploration.As the Principal of DWCorporate, Dennis has been providing commercial, strategic, and corporate governance services to international exchange listed entities for 21 years.He is supported by a team at DWCorporate, drawing on comprehensive knowledge of all aspects of company secretarial and governance matters, including the Corporations Act and ASX.Dennis replaces Mr. Leonard Math who has resigned to pursue other interests. Recent Insider Transactions Derivative • Aug 06
MD, CEO & Director exercised options to buy AU$1.2m worth of stock. On the 4th of August, Giuseppe Ariti exercised options to buy 5m shares at a strike price of around AU$0.04, costing a total of AU$192k. This transaction amounted to 33% of their direct individual holding at the time of the trade. Since September 2021, Giuseppe's direct individual holding has increased from 14.24m shares to 14.36m. Company insiders have collectively bought AU$197k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Jun 16
Genmin Limited Reports Update to the Detrital Iron Deposit Mineral Resource Estimate for the Bandjougoy Prospect Genmin Limited reported an update to the Detrital Iron Deposit (DID) Mineral Resource Estimate (MRE) for the Bandjougoy prospect (DID MRE) at its 100% owned Baniaka iron ore project (Baniaka), located in the Republic of Gabon, central West Africa. The DID MRE has resulted in a new global Mineral Resource Statement for Baniaka (Global MRS). The Bandjougoy DID Resource update was informed by Auger and diamond drilling and has resulted in 100% of the DID MRE now being classified as Indicated. An additional 1.5 million tonnes (Mt) were added to the DID MRE, with iron grade improving marginally from 48.7% to 48.8% Fe. The Bandjougoy Indicated DID MRE now stands at 19.9Mt grading 48.8% Fe. The DID MRE was completed by independent consultants Golder Associates Pty Ltd. (Golder) and is reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (2012 Edition) (JORC Code). This DID MRE is based on assay results and geological information from 291 Auger drillholes for a total 3,761m (including 57 newly reported holes for 815m), and 35 diamond core drillhole intervals in the DID domain for a total of 291m. Results from the Auger drilling are also reported in this announcement. Results from the 2021 diamond drilling were reported in the Company's ASX announcements dated 23 November 2021, 24 February 2022, and 25 May 2022. Baniaka is divided into 12 major prospects at different levels of maturity. The Baniaka Preliminary Feasibility (PFS) includes Soft Oxide mineral resources from the Bandjougoy and Tsengué prospects and DID mineral resources from Bingamba North, Tsengué, Bandjougoy and Flouflou prospects (collectively PFS Prospects). Although the principal objective of the infill drilling campaign was the classification upgrade in accordance with the JORC Code, an additional 1.5Mt or 8% by tonnage was added to the Resource inventory in comparison to the prior DID MRE reported to the ASX on 21 July 2021. The increase in tonnage is coincident with the area of thickened primary BIF noted in diamond drilling and associated magnetic response between 320 000mE and 321 600mE.The Company has previously reported the results of pilot scale metallurgical test work (Announcement), completed by independent, Bond Engineering at its Klerksdorp facility in South Africa. The results of three (3) tonnage scale DID samples (MIN06039, andjougoy; REM05647, Bingamba North; and REM05645, Bingamba North), were included in the Announcement. The results of the pilot scale test work for all three (3) DID samples for Lump and Fines products ranged between 63.6% to 65.4% Fe product grades, with mass yields within the range of 55.5% to 65.3%. For the Bandjougoy DID sample (MIN06039), Lump iron grade and mass yield were 64.8% and 27.7% respectively. Similarly for Fines, iron grade and mass yield were 65.2% and 37.6% respectively. Announcement • May 26
Genmin Limited Reports Significant Increase to the Mineral Resource Estimate (MRE) for Its 100% Owned Baniaka Iron Ore Project Genmin Limited reported a significant increase to the Mineral Resource Estimate (MRE) for its 100% owned Baniaka iron ore project (Baniaka), located in the Republic of Gabon, Central West Africa. The 168% increase of the Baniaka MRE to 700 million tonnes (Mt) results from the inclusion of a Maiden, Inferred Oxide and Primary MRE for the Bandjougoy prospect. The MRE was completed by independent consultants Golder Associates Pty Ltd. (Golder) and is reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (2012 Edition) (JORC Code). The MRE is based on Oxide and Primary banded iron formation (BIF) assay results from an additional 43 holes for 4,280m of diamond drilling completed in the Bandjougoy prospect area. Baniaka is divided into 12 major prospects at different levels of maturity. The Baniaka Preliminary Feasibility (PFS) includes Soft Oxide mineral resources from the Bandjougoy and Tsengué prospects and detrital iron deposits (DID) mineral resources from Bingamba North, Tsengué, Bandjougoy and Flouflou prospects (collectively PFS Prospects). The MRE reported in this announcement includes results for the final 12 diamond holes at Bandjougoy from the 2021 drilling program, totalling 1,376m of drilling. Significant Oxide intersections were: 50.4m at 46.8% Fe from 12.5m in BWDD027B; 68.0m at 45.7% Fe from 9.0m in BWDD028A; 56.1m at 48.2% Fe from 6.9m in BWDD029; 59.3m at 45.4% Fe from 13.7m in BWDD032; 65.7m at 50.0% Fe from 4.0m in BWDD033; and 48.6m at 46.2% Fe from 7.8m in BWDD037. Significant DID intersections were: 12.5m at 51.3% Fe from 0.0m in BWDD027B; 9.0m at 54.0% Fe from 0.0m in BWDD028A; 6.9m at 53.9% Fe from 0.0m in BWDD029; 13.0m at 52.2% Fe from 0.0m in BWDD031; 11.7m at 51.9% Fe from 2.0m in BWDD032; 13.5m at 54.0% Fe from 0.7m in BWDD0034; 11.0m at 56.8% Fe from 0.0m in BWDD035A; and 6.8m at 55.1% Fe from 1.3m in BWDD036. Significant Primary intersections were: 50.5m at 33.5% Fe from 77.0m in BWDD028A; 105.3m at 32.8% Fe from 63.0m in BWDD029; 45.5m at 35.9% Fe from 56.0m in BWDD030; and 87.2m at 32.6% Fe from 77.3m in BWDD038. Breakeven Date Change • Apr 27
Forecast to breakeven in 2024 The analyst covering Genmin expects the company to break even for the first time. New forecast suggests the company will make a profit of US$73.9m in 2024. Average annual earnings growth of 101% is required to achieve expected profit on schedule. Announcement • Apr 26
Genmin Limited, Annual General Meeting, May 26, 2022 Genmin Limited, Annual General Meeting, May 26, 2022, at 15:00 W. Australia Standard Time. Agenda: To consider financial reports; to consider re-election of Director Salvatore Pietro Amico; to consider remuneration report; to consider approval of grant of Performance Rights to Giuseppe Vince Ariti; to consider approval of grant of Performance Rights to Salvatore Pietro Amico; and to consider approval of Additional 10% Placement Capacity. Announcement • Apr 09
Genmin Limited Announces Changes in Company Secretary African iron ore explorer and developer, Genmin Limited announce the appointment of Mr. Leonard Math as Company Secretary, effective 8 April 2022.Mr Math is a Chartered Accountant with more than 15 years' resources industry experience. He previously worked as an auditor at Deloitte and is experienced with public company responsibilities including ASX and ASIC compliance, corporate governance, statutory financial reporting and investor relations. Mrs. Lucy Rowe has resigned as Company Secretary. Breakeven Date Change • Apr 07
Forecast to breakeven in 2024 The analyst covering Genmin expects the company to break even for the first time. New forecast suggests the company will make a profit of US$73.9m in 2024. Average annual earnings growth of 101% is required to achieve expected profit on schedule. Breakeven Date Change • Apr 01
Forecast to breakeven in 2024 The analyst covering Genmin expects the company to break even for the first time. New forecast suggests the company will make a profit of US$73.9m in 2024. Average annual earnings growth of 101% is required to achieve expected profit on schedule. Announcement • Feb 25
Genmin Limited Reports Eight Diamond Drill Holes Representing Three Drill Sections from Diamond Drilling Program at its 100% Owned Baniaka Iron Ore Project Genmin Limited reported the results of a further eight (8) diamond drill holes representing three (3) drill sections from the recently completed diamond drilling program at its 100% owned Baniaka Iron Ore Project (Baniaka), located in the Republic of Gabon, Central West Africa. Highlights: Diamond drilling Oxide Mineral Resource growth program comprising 26 holes for approximately 2,930mcompleted in late 2021 at the Bandjougoy prospect; First six (6) diamond drill holes representing two (2) sections reported in November 2021 confirming scale andsuitability for shallow, open pit mining; Diamond drill results reported in this announcement represent the next eight (8) holes over three (3) sections foran interpreted strike extent of 800m. With this announcement, 14 of 26 diamond drill holes now reported, resultsof the remaining 12 holes expected in the coming weeks; These new drill results show a significant thickening of iron mineralisation to the west, continuity over the drill-tested 3km of the modelled 4.4km strike extent, and continues to validate Bandjougoy's suitable geometry forthe potential development of a large-scale open pit mining operation; Bandjougoy, with a strike length of 4.4km, is the single largest target for Oxide mineralisation at Baniaka withoutan Oxide Mineral Resource; it has an in-situ Oxide Exploration Target of 67-124 million tonnes at 35-49% Fe. Earlier pilot scale metallurgical test work results reported in September 2021 on bulk Bandjougoy Detrital Ironand Soft Oxide samples returned Lump, Fines and Pellet Feed products between 62 and 65% Fe. The drill results substantiate Genmin' s strategy to centre mine infrastructure adjacent Bandjougoy the BaniakaPreliminary Feasibility Study, scheduled for completion second quarter 2022. Breakeven Date Change • Dec 31
Forecast to breakeven in 2024 The analyst covering Genmin expects the company to break even for the first time. New forecast suggests the company will make a profit of US$73.9m in 2024. Average annual earnings growth of 91% is required to achieve expected profit on schedule. Announcement • Nov 24
Genmin Limited Announces Drill Results Confirm Scale and Resource Growth Potential Earlier Pilot Scale Test Work Delivered 62 - 65% Fe Product Grades Genmin Limited announced the results of the first two (2) drill sections from its recently completed diamond drilling program at the Bandjougoy prospect at its 100% owned Baniaka Iron Ore Project (Baniaka) located in the Republic of Gabon, Central West Africa. Drilling intersected oxidised iron mineralisation (Oxide) beneath the Detrital Iron Deposit (DID) mineralisation at Bandjougoy. Oxide iron mineralisation comprises both Soft Oxide and Intact Oxide material types. DID and Soft Oxide are the primary targets to support a mining operation at Baniaka. In-situ iron grades from Oxide mineralisation reported in the first two completed sections are in line with the feed grades for bulk Soft Oxide metallurgical samples from Bandjougoy. Sample MIN06039 graded 48% Fe as reported on 15 September 2021 and sample MIN6030 graded 35.3% Fe as reported on 29 October 2021. Both samples achieved +62% Fe product grades during pilot scale test work. The 2021 diamond drilling at Bandjougoy builds on 12 diamond drill holes completed on the prospect in 2018. These new holes were drilled on 400m and 800m spaced sections and confirmed Oxide and Primary mineralisation on the eastern part of Bandjougoy (significant intercepts were reported in the Company's Prospectus dated 9 February 2021. The 2021 diamond drilling program at Bandjougoy comprises approximately 3,000m for 25 holes. The drill results reported in this announcement represent the first six (6) of these 25 holes with assays received from ALS laboratories at Loughrea, Ireland, and Johannesburg, South Africa. The holes targeted the downdip extension of iron mineralisation on existing section BJ323000E and tested the possibility of deeper oxidation and iron enrichment along an interpreted structure on newly reported section BJ322200E. All six (6) holes for a total of 522.5m drilling were successful in intercepting Oxide and/or Primary mineralisation at downhole depths that were forecast during drill planning. Genmin has previously reported pilot scale metallurgical test work on bulk samples (1-2 tonnes), by Bond Equipment in Klerksdorp, South Africa. The bulk samples were from Baniaka and included DID and Soft Oxide samples from Bandjougoy. The Soft Oxide sits immediately below the DID in the geological profile and is typically finer than the DID with more material reporting to be -1mm size fraction. Consequently, Lump and Fines yields are lower than achieved with DID feed, but an additional Pellet Feed product (-0.5+0.05mm) is produced. The iron grades for both Lump and Fines products from Soft Oxide sample MIN06035 (head grade 48% Fe) was 62.3%, with an overall mass yield of 45%. For Soft Oxide sample MIN06030 (head grade 35.3% Fe), the Pellet Feed size fraction (73% of the sample massafter scrubbing), was subject to a single stage spiral rougher test and produced a concentrate before cleaning of 62.5% Fe at a mass yield of 41%. With a subsequent spiral cleaning stage to follow the rougher stage, the Fe grade is expected to further increase, through the removal of misplaced, liberated gangue. Drilling also confirmed the shallow northerly dip of the Banded Iron Formation (BIF) hosting the iron mineralisation, and a true BIF thickness of 55 60m in this part of Bandjougoy. Drill hole BWDD017 intersected a fault zone, which is interpreted as a subvertical reverse fault. This isnoteworthy in the presence of oxidised BIF at greater depth than expected, which is interpreted to represent deeperoxidation along the structure. Oxide mineralisation is encountered to vertical depths of up to 40m below surface on section BJ323000E, and up to 55m below surface along the interpreted fault on section BJ322200E. Announcement • Sep 15
Genmin Limited Announces Initial Results of the Pilot Plant Metallurgical Test Work Program Being Conducted at Bond Equipment in Klerksdorp, South Africa Genmin Limited provided update the market on the initial results of the pilot plant metallurgical test work program being conducted at Bond Equipment in Klerksdorp, South Africa. The bulk samples are from the company's 100% owned Baniaka Iron Ore Project in the Republic of Gabon, central West Africa. Genmin has previously advised that pilot scale metallurgical test work had commenced at independent, specialist mineral processing and engineering firm Bond. This large-scale pilot test work builds on previous laboratory scale test work carried out at the ALS Metallurgy Iron Ore Technical Centre in Perth, Western Australia. Bulk samples for the program are representative of both detrital iron deposits (DID) (DID and Hybrid) and Oxide mineralisation from within the Mineral Resource envelope at Baniaka and are comprised of 13 samples for a combined wet weight of approximately 22.4 tonnes. The purpose of the test work is to develop engineering level process design criteria, confirm product yields and grade/quality, and provide large (>500kg) product samples for Value-in-Use (VIU) test work. Announcement • Jul 22
Genmin Limited Reports Updated Detrital Iron Deposits Mineral Resource Estimate Genmin Limited reported an updated Detrital Iron Deposits Mineral Resource Estimate (MRE) completed by independent mining consultants Golder Associates Pty Ltd. (Golder), at the Company's 100% owned Baniaka Iron Ore Project (Baniaka), located in the Republic of Gabon, central West Africa. Baniaka is comprised of 12 major prospects of varying maturity. The updated DID MRE relates only to the Tsengué and Bandjougoy prospects. This DID MRE is based on geological information and assay data from 118 shallow, infill Auger holes at the Tsengué and Bandjougoy prospects for a total advance of 1,464m (Infill Auger Drilling). In line with the Company's expectations, minor variations in tonnage and grade for the Tsengué and
Bandjougoy prospects are noted between the updated July 2021 MRE in comparison to the April 2020 MRE. This is a result of the inclusion of the Infill Auger Drilling information. Total tonnage has increased from 60.5 million tonnes (Mt) to 63.1Mt (+4.3%), in-situ iron grade has reduced marginally from 47.2% to 46.6% (-1.3%), with overall contained metal increasing 3.2%. Laboratory scale metallurgical test work on DID has shown with washing, screening and where necessary dense media separation, Lump and Fines iron ore products are produced at indicative iron grades of 60-64% Fe with mass yields between 51-67%. Announcement • Jul 06
Genmin Limited Commences Diamond Drilling At Baniaka Genmin Limited advised the market that extension diamond drilling commenced on 30 June 2021 and separately, it has signed a drill contract with FFA Gabon (FFA) for an initial 10,000m reverse circulation (RC) infill program, both in respect of its Baniaka Iron Ore Project (Baniaka) located in the Republic of Gabon, central West Africa. The objective of the diamond and infill reverse circulation drilling is to upgrade existing Inferred Mineral Resources at the Bingamba North prospect and the estimation of a maiden mineral resource at the Bandjougoy prospect to achieve Indicated and/or Measured Mineral Resource classifications in support of the Baniaka Preliminary Feasibility Study. Genmin has previously advised the market of the scheduled commencement of diamond drilling at the Bandjougoy prospect at Baniaka. Bandjougoy is the single large Oxide drill target at Baniaka in a central location, which does not have a mineral resource. Diamond drilling commenced on Wednesday 30 June 2021 using global drilling contractor Boart Longyear Limited. Boart Longyear was established in 1890 to service the then rapidly expanding domestic iron ore and steel industry in the USA and has since grown into a global enterprise with extensive experience in drilling iron ore assets in West Africa. The Company is pleased to have appointed Boart Longyear, an industry leader, in this role. The core drill in operation at Baniaka is a track mounted Boart Longyear LF90 equipped with PQ3, HQ3 and NQ3 drill strings with triple tube core barrels to optimise the recovery of friable oxidised material. All diamond holes will be drilled inclined, with core to be oriented using Boart Longyear's proprietary TruCore orientation tool. All core holes will be surveyed with a REFLEX GYRO downhole survey tool, to deliver accurate downhole survey in magnetic rock types as are encountered at Baniaka. Separately, the Company has now signed a contract with FFA for an initial 10,000m of RC drilling to complete an infill program at the Bandjougoy and Bingamba North prospects. FFA, whilst domiciled in Gabon, is part of the diversified French group, Groupe Duval and its mineral drilling division is part of the water and geotechnical drilling business unit. All RC drilling will be completed using an Atlas Copco drill, using blade or hammer bits dependent on ground conditions, with a 900 cfm compressor supported by an external booster. All RC holes will also be surveyed using the REFLEX GYRO tool to ensure accurate downhole survey in the potentially magnetic oxide lithologies. With diamond drilling already underway, RC drilling is scheduled to commence during August 2021, with the program expected to take three (3) months to complete. Announcement • Jun 01
Genmin Limited Announces Drilling Scheduled to Commence at Baniaka in June Genmin Limited announced that it has executed a contract with Boart Longyear for an initial 2,000m of diamond drilling at its Baniaka iron ore project, located in Gabon, central West Africa (Baniaka). The diamond drilling will be undertaken at the Bandjougoy prospect. The diamond drilling, which is expected to commence in late June and take two (2) months to complete, will target shallow, Oxide iron mineralisation sitting below the surficial detrital iron deposits in the central and western portions of the Bandjougoy prospect. Historically 12 diamond holes for 1,186m have been drilled by the Company at Bandjougoy on four, 400m and 800m spaced sections. This drilling confirmed the presence of Oxide and Primary iron mineralisation in the eastern portion of the prospect. Bandjougoy is the single largest Oxide drill target at Baniaka in a central location, which sits outside the current Oxide Mineral Resource Area. The diamond drilling, together with infill Reverse Circulation (RC) drilling, will support the estimation of Indicated and/or Measured Mineral Resources at Bandjougoy as part of the Baniaka preliminary feasibility study. The Company undertook a tendering process and selected Boart Longyear Gabon based on rig suitability, track record, expediency and footprint in Gabon. The Company is also at draft contract stage with an international contractor for approximately 10,000m of RC drilling to complete infill drilling at the Bandjougoy, Tsengué and Bingamba North prospects. Announcement • May 06
Genmin Limited Commences Baniaka Detrital Iron Deposit Resource Update Genmin Limited (Genmin or Company) announced that it has appointed independent, global mining consultancy Golder Associates (Golder) to update the Detrital Iron Deposit (DID) mineral resource estimate at the Tsengué and Bandjougoy prospects at its Baniaka iron ore project, located in Gabon, central West Africa. Collectively, Tsengué and Bandjougoy prospects account for approximately 50% of the currently defined 60Mt DID mineral resource. All of Bandjougoy and 30% of Tsengué respectively are currently classified as Inferred. Assay data from 118 shallow, infill Auger holes historically drilled by Genmin at the Tsengué and Bandjougoy prospects for a total advance of 1,464m (Infill Drilling) has now been validated and entered into the geological database. Preliminary geological logging from the Infill Drilling was used to inform Baniaka's 2019 DID mineral resource estimate but the assay data was not available and, consequently, not included in the geological database at that time. The Infill Drilling is on 200m line spacing and is expected to increase resource classification to Indicated at Tsengué, and for approximately 40% of Bandjougoy prospects. No increase in resource tonnage or grade is anticipated, but rather an increase in geological confidence (continuity) enabling the reclassification of the DID mineral resource from Inferred to Indicated. The conversion of Inferred Mineral Resources at Baniaka to Indicated and/or Measured is a key objective of Genmin's broader infill drilling program. Indicated and Measured Mineral Resources with consideration of Modifying Factors enables the determination of Proven and Probable Ore Reserves respectively, which will form the foundation of the Baniaka Preliminary Feasibility Study (PFS). The PFS is expected to be completed in first quarter of 2022. Golder is scheduled to complete the interim resource update for the end of the June 2021 quarter. Reporting criteria for the Infill Drilling is set out in the attached JORC Code Table 1 Checklist of Assessment and Reporting Criteria, including two appendices listing all drill collars and one metre assay results. Announcement • Mar 11
Genmin Limited Announces Executive Changes Genmin has appointed Michael Arnett as its Independent Chairman, who replaces John Hodder as Chairman. Mr. Arnett has more than 20 years' experience in the resources industry, particularly in corporate and legal matters, and has been the Chairman of mining and civil contractor NRW Holdings Limited for the past five years, having served on NRW's Board since 2007.