New Risk • Mar 30
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 Negative equity (-AU$12m). Earnings have declined by 50% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 10x increase in shares outstanding). Revenue is less than US$1m (AU$1.8k revenue, or US$1.2k). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (AU$43.0m market cap, or US$29.5m). Announcement • Mar 11
Rapid Critical Metals Limited, Annual General Meeting, May 25, 2026 Rapid Critical Metals Limited, Annual General Meeting, May 25, 2026. Announcement • Nov 29
Rapid Critical Metals Limited (ASX:RCM) completed the acquisition of Webbs Consol Silver Project in northeast New South Wales, comprising EL 8933 and EL 9454. from Lode Resources Ltd (ASX:LDR). Rapid Critical Metals Limited (ASX:RCM) agreed to acquire Webbs Consol Silver Project in northeast New South Wales, comprising EL 8933 and EL 9454. from Lode Resources Ltd (ASX:LDR) for AUD 7.3 million on September 1, 2025. A cash consideration of AUD 3 million will be paid by Rapid Critical Metals Limited. The consideration consists of 115 million common equity of Rapid Critical Metals Limited to be issued for assets of Webbs Consol Silver Project in northeast New South Wales, comprising EL 8933 and EL 9454. Rapid Critical Metals Limited will pay an earnout/contingent payment of AUD 0.75 million cash. As part of consideration, AUD 3.75 million is paid towards assets of Webbs Consol Silver Project in northeast New South Wales, comprising EL 8933 and EL 9454.
The transaction is subject to approval of offer by Rapid Critical shareholders, consummation of due diligence investigation and execution of definitive transaction documentation
Blue Ocean Equities Limited acted as financial advisor for Lode Resources Ltd. Thomson Geer acted as legal advisor for Lode Resources Ltd.
Rapid Critical Metals Limited (ASX:RCM) completed the acquisition of Webbs Consol Silver Project in northeast New South Wales, comprising EL 8933 and EL 9454. from Lode Resources Ltd (ASX:LDR) on November 28, 2025 . Announcement • Sep 17
Rapid Critical Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 14 million. Rapid Critical Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 14 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 159,703,756
Price\Range: AUD 0.035
Discount Per Security: AUD 0.0021
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 240,296,244
Price\Range: AUD 0.035
Discount Per Security: AUD 0.0021
Transaction Features: Subsequent Direct Listing Announcement • Jul 02
IRIS Metals Limited (ASX:IR1) entered into a binding sale purchase agreement to acquire 93 federal mining claims in Tin Mountain property in South Dakota from Rapid Critical Metals Limited (ASX:RCM) for $0.85 million. IRIS Metals Limited (ASX:IR1) entered into a binding sale purchase agreement to acquire 93 federal mining claims in Tin Mountain property in South Dakota from Rapid Critical Metals Limited (ASX:RCM) for $0.85 million on July 1, 2025. The consideration includes: a share issuance of $550,000 payable in IR1 shares, subject to shareholder approval at the Annual General Meeting scheduled for August 29, 2025; a cash payment of $300,000 to the original claim vendor, F3 Gold LLC, completed on June 30, 2025; and a retention by F3 Gold LLC of a 2% gross revenue royalty on future production from the 93 claims. Upon shareholder approval and share issuance, IRIS will control 100% of the TME property. 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 Risks Share price has been highly volatile over the past 3 months (41% average weekly change). Negative equity (-AU$13m). Earnings have declined by 66% per year over the past 5 years. Shareholders have been substantially diluted in the past year (499% increase in shares outstanding). Revenue is less than US$1m (AU$5.9k revenue, or US$3.7k). Market cap is less than US$10m (AU$4.36m market cap, or US$2.74m). Minor Risk Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Announcement • Mar 07
Rapid Lithium Limited, Annual General Meeting, May 28, 2025 Rapid Lithium Limited, Annual General Meeting, May 28, 2025. Announcement • Feb 27
Rapid Lithium Limited has completed a Follow-on Equity Offering in the amount of AUD 1.903861 million. Rapid Lithium Limited has completed a Follow-on Equity Offering in the amount of AUD 1.903861 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 250,000,000
Price\Range: AUD 0.004
Discount Per Security: AUD 0.00024
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 13,465,156
Price\Range: AUD 0.004
Discount Per Security: AUD 0.00024
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 201,534,995
Price\Range: AUD 0.004
Discount Per Security: AUD 0.00024
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,965,005
Price\Range: AUD 0.004
Transaction Features: Rights Offering Announcement • Dec 13
Rapid Lithium Limited has filed a Follow-on Equity Offering in the amount of AUD 2 million. Rapid Lithium Limited has filed a Follow-on Equity Offering in the amount of AUD 2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 250,000,000
Price\Range: AUD 0.004
Discount Per Security: AUD 0.00024
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 250,000,000
Price\Range: AUD 0.004
Security Features: Attached Options
Transaction Features: Regulation S; Rights Offering Announcement • Nov 08
Rapid Lithium Limited (ASX:RLL) agreed to acquire New Energy Metals (US) Inc. from Patriot Lithium Limited (ASX:PAT) for approximately $0.4 million. Rapid Lithium Limited (ASX:RLL) has signed a binding agreement to acquire New Energy Metals (US) Inc. from Patriot Lithium Limited (ASX:PAT) for approximately $0.4 million on November 7, 2024. The deal is subject to approval from the Rapid Lithium Limited (ASX:RLL) shareholders, regulatory approvals, third party approval and due diligence requirements. The consideration for the transaction is 59.3 million of fully paid ordinary shares in Rapid Lithium, that will be subject to voluntary escrow restrictions for a period of 12 months from their date of issue. Announcement • Nov 05
Armada Metals Limited (ASX:AMM) completed the acquisition of Midwest Lithium Limited. Armada Metals Limited (ASX:AMM) agreed to acquire Midwest Lithium Limited for approximately AUD 4.5 million on May 27, 2024. Armada Metals Limited (ASX:AMM) entered into a long form share purchase agreement to acquire Midwest Lithium Limited from Rodrigo Pasqua, Barry Junor, James Clark and others for AUD 4.8 million on August 19, 2024. On completion, Midwest shareholders will hold 50% of the enlarged post capital raising, issued share capital of Armada. Armada will issue approximately 343 million fully paid ordinary shares in itself to Midwest securityholders, equivalent to 50% of its enlarged capital on completion.
The transaction is subject to satisfaction of certain conditions, including equity raising, shareholder approval of Armada, execution of long form agreements and the completion of satisfactory legal, financial, tax and technical due diligence by Armada. As per the announcement dated July 19, 2024 Armada is pleased to confirm that Armada and Midwest have agreed to extend the mutual exclusivity arrangements under the Term Sheet to July 31, 2024. Armada has also successfully completed a conditional institutional placement and has received firm commitments raising AUD 1.35 million in additional funds. Out of these funds Armada will use AUD 1.07 million for midwest project exploration and tenement acquisition. Following completion of the Transaction and subject to shareholder approval, Armada Metals Limited proposes to change its name to "Rapid Lithium Limited". The transaction is expected to close in early October 2024. Baker McKenzie is acting as legal adviser to Armada Metals. Armada and Midwest have satisfied the condition precedent "Amendment to Agreements" on September 3, 2024. Armada Metals Limited's shareholders approved the transaction at the Company's Extraordinary General Meeting on October 17, 2024.
Armada Metals Limited (ASX:AMM) completed the acquisition of Midwest Lithium Limited on November 4, 2024. New Risk • Oct 31
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 65% 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 (34% average weekly change). Negative equity (-AU$13m). Earnings have declined by 66% per year over the past 5 years. Shareholders have been substantially diluted in the past year (65% increase in shares outstanding). Revenue is less than US$1m (AU$5.9k revenue, or US$3.9k). Market cap is less than US$10m (AU$3.09m market cap, or US$2.03m). New Risk • Sep 14
New major risk - Negative shareholders equity The company has negative equity. Total equity: -AU$13m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Negative equity (-AU$13m). Earnings have declined by 66% per year over the past 5 years. Shareholders have been substantially diluted in the past year (100% increase in shares outstanding). Revenue is less than US$1m (AU$5.9k revenue, or US$4.0k). Market cap is less than US$10m (AU$1.87m market cap, or US$1.25m). Announcement • Aug 23
Armada Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 1.35 million. Armada Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 1.35 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 135,000,000
Price\Range: AUD 0.01
Discount Per Security: AUD 0.00065
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • May 28
Armada Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 5 million. Armada Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Security Name: Ordinary Shares
Security Type: Common Stock
Transaction Features: Subsequent Direct Listing Board Change • May 15
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non-Executive Chairman Rick Anthon was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 05
Armada Metals Limited, Annual General Meeting, May 28, 2024 Armada Metals Limited, Annual General Meeting, May 28, 2024, at 16:30 E. Australia Standard Time. Announcement • Nov 25
Armada Metals Limited (ASX:AMM) signed a letter of intent to acquire LITHIUM EXPLORATION PROJECTS IN BRAZIL from ANTARES MINERAIS ENERGÉTICOS LTDA. Armada Metals Limited (ASX:AMM) signed a letter of intent to acquire LITHIUM EXPLORATION PROJECTS IN BRAZIL from ANTARES MINERAIS ENERGÉTICOS LTDA for AUD on November 23, 2023. New Risk • Sep 29
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 58% 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 Less than 1 year of cash runway based on free cash flow trend (-AU$4.6m free cash flow). Share price has been highly volatile over the past 3 months (22% average weekly change). Shareholders have been substantially diluted in the past year (58% increase in shares outstanding). Revenue is less than US$1m (AU$11k revenue, or US$7.2k). Market cap is less than US$10m (AU$4.26m market cap, or US$2.75m). New Risk • Jul 21
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 Less than 1 year of cash runway based on free cash flow trend (-AU$6.1m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Revenue is less than US$1m (AU$3.8k revenue, or US$2.6k). Market cap is less than US$10m (AU$4.68m market cap, or US$3.16m). Announcement • Feb 02
Armada Metals Limited Announces New Targets Identified at the Nyanga Project in Gabon Armada Metals Limited announced that preliminary modelling of the MobileMT datasets has identified multiple preliminary targets which are consistent with the Company's regional mapping of the Nyanga Project intrusions. These new targets will be used to design future ground-based NSAMT surveys at the Nyanga Magmatic Ni-Cu Project, Gabon. The MobileMT survey directly measures resistivities and was designed to detect the potential for apparent conductors. The lowest resistivity values, ranging between 100-400 ohm-m, are considered significant by the technical team. Further comprehensive data analysis will continue over the coming weeks. The preliminary interpretations and targeting will be reviewed using the company's magmatic sulphide targeting toolkit to complete detailed regional target selection including the prioritisation of target areas. The targets will be assessed and ranked based on the company's extensive geophysical, rock, and geochemical datasets. A series of ground NSAMT surveys will be completed on individual prioritised targets resulting from the more detailed MobileMT data interpretation ahead of drilling testing. Drilling will be focused on testing the Company's higher priority modelled NSAMT targets for the potential occurrence of accumulated magmatic sulphides and Ni-Cu mineralisation. Drilling is expected to commence during the 2023 field season after the heavy rains. Announcement • Jan 10
Armada Metals Limited Announces Renewal of Permit G5-150 Armada Metals Limited announced that the renewal of permit G5-150 has been granted by his Excellency Elvis Ossindji, Minister of Mines in Gabon, dated November 29, and received formally by the Company on January 5, 2023. The permit has been renewed for a period of three (3) years until the end of November 2025. In addition, the permit has been reduced from an area of 1497km2 to 1230km2, a reduction of 18%, on which the Company remains in discussion with the Ministry of Mines. The renewal of permit G5-150 allows the Company to continue exploring the northern extension of the 25 km long LMT within which the high priority Libonga North, Central and South exploration targets fall. These targets will remain a focus, alongside other priority targets, in upcoming 2023 exploration programs. Announcement • Dec 01
Armada Metals Limited Announces Commencement of Mobile Mt Survey at the Nyanga Project Armada Metals Limited announced the commencement of a one thousand five hundred line-kilometre (1,500 lkm) airborne survey using the Expert Geophysics Limited's Mobile Magnetotellurics system at its district- scale Nyanga Project in Gabon. Commencing now, the system will be used to rapidly test potential concealed portions of the Libonga-Matchiti Trend (`LMT') and the highly prospective and untested Ngongo-Yoyo Trend (`NYT'). The survey is expected to take until the second half of December to complete, with results from the survey expected in January 2023. The Nyanga Project Background The Company has developed a multi-target exploration pipeline consisting of 18 targets. Advanced exploration has so far been focused on the 25km-Long LMT. Five of these targets are located along the 25km-long LMT. This trend is marked by anomalous copper and nickel in soils along gabbro to peridotite fractionation suite units outcropping at surface. The NYT extends for up to 40km from the LMT in a south-easterly direction. MobileMT Survey Survey Details The MobileMT is the latest innovation in airborne electromagnetics. The MobileMT technology utilises naturally occurring electromagnetic fields in the frequency range of 25 20,000 Hz. The signal/data processing algorithms have been developed from extensive experience within the EGL team. It essentially produces results and depths of investigation comparable to ground AMT methods. The survey system includes a high sensitivity optically pumped airborne magnetometer. Complimentary VLF data will provide near surface electro-magnetic information. The airborne survey system will comprise the following instrumentation: MobileMT (Mobile MagnetoTellurics) towed bird with the 97 m long tow cable Geometrics G822A or Scintrex CB-3 Caesium magnetometer, installed in a separate towed bird EGL PC-104 based data acquisition system EGL GPS navigation computer/pilot steering indicator Smart micro model UMRR-0A radio altimeter, 0 500 m range. Base station and ground support instrumentation will comprise: MobileMT base station, four electric channels for four pairs of electrodes, with data logger - GEM Systems GSM-19 base station magnetometer with data logger - A field data processing workstation and a full suite of software for the quality control and preliminary processing of the airborne geophysical data. Daily quality control of acquired data will be undertaken in the field by EGL's on-site crew. Data will also be transmitted daily to EGL's processing facility in Toronto, Canada. Quality control information may then be confirmed by EGL and relayed back to the field crew on a regular basis. The survey is planned to cover an area of 400km2 on 400m spaced lines and will assess the potential for the accumulation of magmatic sulphides related to the NYT intrusions and provide the ability to assess the deeper, or non-outcropping, parts of the LMT intrusion complex. The purpose of the is to optimise the definition of anomalies of potential importance, by providing direct detection of conductors with a greater depth of investigation to aid in resolving the geological context of the intrusion complexes. The airborne survey will be followed up by ground based NSAMT surveys in advance of the planned 2023 drilling program. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non-Executive Chairman Rick Anthon was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 14
Armada Metals Limited Announces Exploration Update - New Drill Targets Identified Armada Metals Limited announced that modelling and a subsequent technical review of Natural Source Audio-Magnetotelluric (`NSAMT') and Company exploration datasets has identified very strong apparent conductors that will be used to drive future drill programs at the Nyanga Project, Gabon. NSAMT directly measures resistivities and the survey was designed to detect the potential for new apparent conductors and provide context to existing conductors associated with the XciteTM airborne electromagnetic survey that was completed in 2021. The lowest resistivity values, ranging between 1-10 ohm-m, are considered significant by the technical team and may be related to magmatic sulphide mineralisation accumulations. MobileMT Survey: A one thousand five hundred line-kilometre (1,500lkm) airborne survey using the Expert Geophysics Limited's (`EGL') Mobile Magnetotellurics (`MobileMT') system is planned. The MobileMT is the latest innovation in airborne electromagnetics. The MobileMT technology utilises naturally occurring electromagnetic fields in the frequency range of 25 20,000 Hz. The signal/data processing algorithms have been developed from extensive experience within the EGL team. It essentially produces results and depths of investigation comparable to ground AMT methods. This is the first deployment of the MobileMT system on the African continent. The system has arrived in Libreville, Gabon and will be mobilised to the Nyanga Project site in the coming days. The system will be used to rapidly test potential concealed portions of the Libonga-Matchiti Trend (`LMT') and the prospective and untested Ngongo-Yoyo Trend `NYT'). The MobileMT survey is expected to commence in the first half of December and take approximately 2-3 weeks to complete. Data will be reviewed using the Company's magmatic sulphide targeting toolkit to enable regional target selection. The anomalies will be assessed and ranked based on the Company's extensive geophysical and geochemical datasets. Ground NSAMT Survey: A more comprehensive series of ground NSAMT surveys will be completed on individual prioritised regional targets, resulting from the Mobile MT survey, ahead of drilling testing. Drilling: Drilling will be focused on testing the Company's highest priority modelled NSAMT conductors for the occurrence of accumulated magmatic sulphides and Ni-Cu mineralisation. Drilling is expected to commence during the 2023 field season after the heavy rains. Announcement • Aug 02
Armada Metals Limited Announces Commencement of Series of Natural Source Audio-Magnetotelluric Surveys over the Libonga-Matchiti Trend At the Nyanga Project in Gabon Armada Metals announced the commencement of a series of Natural Source Audio-Magnetotelluric surveys over the Libonga-Matchiti Trend at the Nyanga Project in Gabon. Geophysical Surveys and Systems cc, South Africa, have been contracted to carry out the surveys and are currently on site. Data collection will be carried out until the end of September, with the final processed results expected towards the end of October 2022. NSAMT systems calculate ground resistivity by measuring the magnitude of naturally occurring electric and magnetic fields. Resistivity values are calculated from these measurements and used to create 2D and 3D images of the subsurface. Magmatic sulphide accumulations are defined by extremely low resistivity values. The survey is designed with a Depth Of Investigation of up to 1,000m below the surface to follow up on targets where magmatic sulphides were encountered during the Phase 1 drilling program. Results will be compared with the XciteTM airborne electromagnetic data and physical property measurements on core from the Phase 1 program, to provide a basis for ranking AMT anomalies to define targets for the next phase of drilling. The surveys will start at the Libonga South target. If successful, the survey will then be moved to other high priority targets along the LMT and then to the high priority regional Ngongo and Yoyo targets. Announcement • Jun 21
Armada Metals Limited Reports Diamond Drilling Intersects Magmatic Sulphides At Nyanga Armada Metals Limited announced that all three targets drilled along the Libonga Matchiti Trend (`LMT') at the Nyanga Project, Gabon, have intersected magmatic sulphides. The Phase 1 diamond drill program is now complete with a total of 3,240m having been drilled in ten drill holes at the Libonga North, Matchiti Central and Libonga South targets. Richard Hornsey, from Richard Hornsey Consulting Ltd. (`RHC'), and Armada's magmatic systems consultant, has been working with the Company's technical team on site to provide expert analysis of the intrusions, magmatic processes and economic potential, using a mineral systems approach that will enable the Company to further develop the current exploration model and search space. Core observations support the 2018 geochemical study completed by RHC (as reported in the Company's Prospectus in December 2021). The LMT is now confirmed to be a complex, dynamic multi-phased magma conduit system, with crustal contamination having caused extensive sulphur saturation. All ten diamond holes have intersected disseminated to strongly disseminated and blebby magmatic sulphide, with a typical magmatic assemblage of pyrrhotite and chalcopyrite (Appendix 4 provides field definitions). The core is currently being processed and sections will be assayed for the normal magmatic suite of elements including nickel, copper, cobalt, and the platinum group elements (PGE) which will also aid the geological understanding and future targeting. Thorough interpretation of all the datasets will be undertaken once the structural data, physical property measurements, detailed core logs, and analyses have been received. This will include reinterpretation of the extensive field mapping and rock sample datasets, applying the detailed understanding from the drill core. The initial proof of concept LMT drill program has now been successfully completed, having achieved the objective of proving that magmatic sulphides, and potential ore-forming processes, are present at the Nyanga Project. In particular, this program provides a comprehensive dataset that will significantly advance the Project from a technical perspective. Further exploration programs will be mobillised soon with focused target drilling planned for later in 2022. Four diamond holes (drilled for 1,501m) have been completed at the Libonga North Target, with 1,358m intersecting multiple intrusive sills BNDD001 and LBNDD002 were reported in the Company's quarterly report. More detailed examination of drill hole LBNDD002 has demonstrated this hole passed through intrusive rocks throughout the entire hole. Previously logged basement lithologies from 201.74m are now interpreted as highly contaminated phlogopite-rich gabbroic sills with a local, and strongly developed, magmatic foliation fabric. Announcement • May 02
Armada Metals Limited, Annual General Meeting, May 31, 2022 Armada Metals Limited, Annual General Meeting, May 31, 2022, at 15:00 AUS Eastern Standard Time. Agenda: To receive and consider the Financial Report, the Directors' Report and Auditor's Report of the Company for the year ended 31 December 2021; to consider the remuneration report; to consider the re-election of directors; to consider the additional 10% placement capacity; and to consider the other matters. Board Change • Apr 27
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. CEO, MD & Director Ross McGowan was the last director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 10
Armada Metals Limited Announces Commencement of Diamond Drilling At Nyanga Project Armada Metals Limited announce the commencement of its first drill program at the Nyanga Project, Gabon, following successful mobilisation of two custom-built lightweight drill rigs to the first target sites. Phase 1 drilling will consist of up to 3,000m of diamond drilling along the high-priority Libonga-Matchiti Trend (LMT), drilling previously untested magmatic Ni-Cu targets. Diamond drilling will be completed by Boart Longyear and is expected to take up to three months to complete. The program is designed to test high-priority electromagnetic conductors, identified by Armada positioned along the 25-kilometer-long prospective strike of the Libonga-Matchiti Trend. Diamond drilling (DD) programs will include appropriate sampling and assaying techniques on diamond drill core with multi-element assay data, and the collection of lithological and structural data for mineralisation vectoring: Libonga North Target: a minimum of six (6) holes are planned between 100m and 400m depth for a total of ~1,500m of drilling. Planned hole depths are modelled from the XciteTM HTDEM and FALCON® AGG data. Matchiti Central Target: a minimum of six (6) holes are planned between 100m and 400m depth for a total of ~1,500m of drilling. Planned hole depths are modelled from the XciteTM HTDEM and GGG data. Announcement • Mar 04
Armada Metals Limited Announces Renewal of Permit G5-555 Armada Metals Limited announced that the renewal of permit G5-555 has been granted by his Excellency Vincent de Paul Massassa, Minister of Oil, Gas, Hydrocarbons and Mines in Gabon, on 14 February 2022 and received formally by the Company on 28 February 2022. The permit has been renewed for a period of three (3) years until February 2025. The renewal of permit G5-555 allows the Company to immediately explore the southern extension of the 25-kilometer (km) long Libonga-Matchiti Trend (`LMT'). The Company's technical team has rapidly modified the Phase 1 drilling program, about to commence, and will now include Matchiti Central, the exploration target along the LMT. Eleven (11) regional targets, outside of the LMT, sit within permit G5-555 and regional programs over these areas will be planned for 2022. As per the Prospectus, the Board will now re-allocate funding to include exploration of G5-555. Board Change • Dec 15
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. was the last director to join the board, commencing their role in . The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 