New Risk • May 27
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 Earnings have declined by 18% per year over the past 5 years. Shareholders have been substantially diluted in the past year (40% 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$71.6m market cap, or US$51.1m). New Risk • May 23
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 40% 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 Earnings have declined by 18% per year over the past 5 years. Shareholders have been substantially diluted in the past year (40% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$60.4m market cap, or US$43.1m). Announcement • May 05
Resource Minerals International Ltd has filed a Follow-on Equity Offering in the amount of AUD 3.5 million. Resource Minerals International Ltd has filed a Follow-on Equity Offering in the amount of AUD 3.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 87,500,000
Price\Range: AUD 0.04
Transaction Features: Subsequent Direct Listing New Risk • Mar 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$2.5m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.5m free cash flow). Earnings have declined by 18% per year over the past 5 years. Shareholders have been substantially diluted in the past year (31% increase in shares outstanding). Revenue is less than US$1m (AU$704 revenue, or US$492). Minor Risk Market cap is less than US$100m (AU$25.6m market cap, or US$17.9m). Board Change • Jan 05
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Non-Executive Director Trevor Matthews was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Dec 27
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 31% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 28% per year over the past 5 years. Shareholders have been substantially diluted in the past year (31% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$22.2m market cap, or US$14.9m). Announcement • Sep 29
Resource Minerals International Ltd, Annual General Meeting, Nov 25, 2025 Resource Minerals International Ltd, Annual General Meeting, Nov 25, 2025. New Risk • Aug 08
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 18% 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 (45% average weekly change). Earnings have declined by 37% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$13.8m market cap, or US$9.01m). Minor Risk Shareholders have been diluted in the past year (18% increase in shares outstanding). Announcement • May 22
Resource Mining Corporation Limited has filed a Follow-on Equity Offering in the amount of AUD 2 million. Resource Mining Corporation 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: 95,238,095
Price\Range: AUD 0.021
Transaction Features: Subsequent Direct Listing Announcement • Oct 04
Resource Mining Corporation Limited, Annual General Meeting, Nov 28, 2024 Resource Mining Corporation Limited, Annual General Meeting, Nov 28, 2024. New Risk • Sep 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 51% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$8.48m market cap, or US$5.88m). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Shareholders have been diluted in the past year (18% increase in shares outstanding). Announcement • Apr 24
Resource Mining Corporation Limited has completed a Follow-on Equity Offering in the amount of AUD 1 million. Resource Mining Corporation Limited has completed a Follow-on Equity Offering in the amount of AUD 1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 50,000,000
Price\Range: AUD 0.02
Transaction Features: Subsequent Direct Listing Announcement • Apr 18
Resource Mining Corporation Limited has filed a Follow-on Equity Offering in the amount of AUD 1 million. Resource Mining Corporation Limited has filed a Follow-on Equity Offering in the amount of AUD 1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 50,000,000
Price\Range: AUD 0.02
Transaction Features: Subsequent Direct Listing Announcement • Apr 03
Resource Mining Corporation Limited SHS to be Deleted from OTC Equity Resource Mining Corporation Limited SHS (Australia) will be deleted from OTC Equity effective April 02, 2024, due to inactive security. New Risk • Jan 30
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$13.5m (US$8.90m) 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 (-AU$2.9m free cash flow). Less than 1 year of cash runway based on free cash flow trend (-AU$2.9m free cash flow). Earnings have declined by 48% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$13.5m market cap, or US$8.90m). Minor Risks Shareholders have been diluted in the past year (7.0% increase in shares outstanding). Shareholders have been diluted in the past year (7.0% increase in shares outstanding). Board Change • Jan 12
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. 1 independent director (3 non-independent directors). Independent Non-Executive Director Trevor Matthews is the most experienced director on the board, commencing their role in 2021. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. New Risk • Nov 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 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.9m free cash flow). Earnings have declined by 48% 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 (13% average weekly change). Shareholders have been diluted in the past year (7.0% increase in shares outstanding). Market cap is less than US$100m (AU$16.9m market cap, or US$11.2m). Announcement • Oct 28
Resource Mining Corporation Limited, Annual General Meeting, Nov 28, 2023 Resource Mining Corporation Limited, Annual General Meeting, Nov 28, 2023, at 10:00 W. Australia Standard Time. Location: Level 5, 191 St Georges Terrace, Perth Western Australia Australia Agenda: To receive and consider the annual financial report of the Company for the financial year ended 30 June 2023 together with the declaration of the Directors, the Directors' report, the Remuneration Report and the auditor's report; to consider Adoption of Remuneration Report; to consider Re-election of Director - David Round; to consider Ratification of issue of Placement Shares in August; to consider Approval of 7.1A Mandate; to consider Approval of New Plan; to consider Approval of potential termination benefits under the New Plan; and to consider Renewal of Proportional Takeover Bid Approval Provisions in Constitution. Announcement • Sep 05
Resource Mining Corporation Limited Announces Resignation of Deborah Ho as Joint Company Secretary Resource Mining Corporation Limited announced that Ms. Deborah Ho has resigned as joint Company Secretary, effective 31 August 2023. Announcement • Jul 28
Resource Mining Corporation Limited Announces Executive Changes Resource Mining Corporation Limited announced that Mr. Andrew Nesbitt and the company have mutually agreed to separate and Andrew's engagement as Chief Executive Officer will cease effective immediately. Executive Chairman, Mr. Asimwe Kabunga, will be responsible for the day-to-day operations of the company. New Risk • Jul 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.4m free cash flow). Earnings have declined by 11% 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 (13% average weekly change). Shareholders have been diluted in the past year (26% increase in shares outstanding). Market cap is less than US$100m (AU$23.7m market cap, or US$15.9m). Announcement • Feb 09
Resource Mining Corporation Limited Announces Tanzanian Nickel Exploration Activities to Commence Resource Mining Corporation Limited announced that the Company has been awarded four (4) exploration permits by the United Republic of Tanzania's Ministry of Minerals' Mining Commission, covering key prospects in Tanzania previously explored by BHP/Albidon. These permits had been applied for in 2021 by Massive Nickel Tanzania Limited, and subsequent to the acquisition by Resource Mining Corporation, the permits have been awarded to the Company. deposits, and the Tanzanian government's pro-business approach and support for building a mineral extractive industry in the country. The permits will allow RMC to carry out exploration activities in these areas, including geophysical and geochemical surveys, drilling and other fieldwork, to further assess the potential of these prospects. The permits are across the four districts and their location and include:Mbinga and Nyasa, Mpanda and Urban, Uvinza and Ngara. Announcement • Jan 26
Resource Mining Corporation Limited Appoints Kellie Davis as Joint Company Secretary, Effective January 26, 20203 Resource Mining Corporation Limited announced the appointment of Mrs. Kellie Davis as joint Company Secretary, effective 26 January 2023. Mrs. Davis has over 20 years' experience in accounting and ASX compliance, predominantly in the resource sector. Beginning her career in Audit with Ernst &Young, she worked for as a Financial Accountant and provided company secretarial services for a number of listed ASX companies in the exploration and resources sectors. Mrs. Davis has a Bachelor of Commerce (Accounting and Finance) Degree and is a Chartered Accountants Australia & New Zealand member. Mrs. Davis is part of the team at Ventnor Compliance which provides company secretarial and governance services. Announcement • Dec 14
Resource Mining Corporation Limited Appoints Andrew Nesbitt to the Role of Chief Executive Officer, Effective 16 January 2023 Resource Mining Corporation Limited announced the appointment of Andrew Nesbitt to the role of chief executive officer commencing 16 January 2023. Andrew is a qualified mining engineer and is currently a consultant to RiverFort Global Capital Ltd. and a Director of AIM listed RiverFort Global Capital Plc. He holds a BSc (Eng) Mining and an MBA and has over 25 years of experience in the natural resources sector. He has held various production and technical roles with both De Beers and Goldfields and has carried out a number of feasibility studies across the world with the leading technical consulting group SRK. As CEO for Resource Mining Corporation, Andrew will be fully leveraging this rich set of experiences to progress exploration and enhance the value of the company's exciting project portfolio covering Tanzania and Finland, as well as managing funding programs and overseeing the listed company. Board Change • Nov 16
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. 1 independent director (3 non-independent directors). Independent Non-Executive Director Trevor Matthews is the most experienced director on the board, commencing their role in 2021. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Nov 10
Resource Mining Corporation Limited (ASX:RMI) executed a Binding Term Sheet to acquire Element92 Pte Ltd from Ropa Investments (Gibraltar) Limited. Resource Mining Corporation Limited (ASX:RMI) executed a Binding Term Sheet to acquire Element92 Pte Ltd from Ropa Investments (Gibraltar) Limited on November 9, 2022. Under the terms of transaction, 40,000,000 RMI Shares is paid in tranches of 30 million RMI Shares on the conversion of the first ‘Exploration Reservation’ to ‘Exploration Licence’ by May 2024 and 10 million RMI Shares on the date that is three months after the date of issue of the 30 million RMI Shares. The transaction is subject to shareholder and/or regulatory approvals. Announcement • Oct 12
Resource Mining Corporation Limited, Annual General Meeting, Nov 29, 2022 Resource Mining Corporation Limited, Annual General Meeting, Nov 29, 2022. Announcement • Sep 07
Resource Mining Corporation Limited Provides an Update on the Due Diligence Activities Being Undertaken At the 3 Projects in Finland Resource Mining Corporation Limited provided an update on the due diligence activities being undertaken at the 3 projects in Finland currently under Option: the Ruossakero Nickel Project in Northern Finland, the Kola Lithium Project in Central Finland and the Hirvikallio Lithium Project in Southern Finland. The company has also reached agreement with the vendor of the three projects to extend the exclusive Option Period to 15 November 2022. In July 2022, the Company purchased the full exploration data file for the Target Projects from the Geological Survey of Finland (GTK) and commissioned Skapto, specialists in geology and geophysics, to conduct a detailed review of this data. An initial report has been prepared for the Company and is under review by the Board. In order to further assess the Target Projects, the Company proposes to conduct field exploration guided by the results of the Skapto Report, which will be funded by the Company. The Target Projects areas are currently covered by 2-year "exploration reservations", valid till May 2024, held by Element92 - the target acquisition vehicle. These reservations allow completion of initial, non-invasive prospecting work, including mapping, outcrop sampling, soil sampling, and geophysics (drilling, pitting, or trenching are not currently allowed). Element92, as the reservation owner, has the exclusive right to convert these exploration reservations into an exploration license. The Hirvikallio Lithium Project is located on a 165 km2 exploration reservation in Southern Finland and the Kola Lithium Project on a 101 km2 exploration reservation in Central Finland. The Hirvikallio Lithium reservation is located in the Somero-Tammela area, Southern Finland. The Finnish Geological Survey GTK considers it one of the most promising lithium pegmatite provinces in Finland. It is within a geological setting that has known Li bearing pegmatites and does support significant more opportunity for discovery. The Hirvikallio reservation contains highly enriched lithium areas and a prospectivity analysis completed by GTK. The Kola Lithium reservation is located in the Kaustinen district. The geology of the Keliber Oy lithium project extends into the Kola reservation. According to GTK data, abundant spodumene-containing pegmatite boulders were observed in the reservation area, especially directly south of the major Syväjärvi and Rapasaari deposits of Keliber. The review of the GTK observations confirms the lithium exploration potential of the Kola reservation area with target generation relying mostly on geological observations and geochemistry. Geophyical surveys are less effective because of the low geophysical contrast between pegmatites and the surrounding host rocks. However, geophysics could assist in detecting structures that are related to pegmatite emplacement, and some pegmatites, depending on the composition, will give a weak EM, and/or radiometric U signal. A total of 18 target areas have been defined within the Hirvikallio and Kola Lithium Projects based upon the review of the GTK data. Within the 18 target zones, 42 sub-targets were able to be defined from information that provided more specific exploration potential. The Ruossakero Nickel Project (named after the deposit it contains) is 283.72km² in size and is situated on the north western edge of Finland, near the Swedish border. The Ruossakero nickel sulphide deposits are hosted by Archean aged komatiitic ultramafic bodies and are considered to be of the `Contact-type' Ni-Cu-PGE mineralisation. The largest of the occurrences is 4 km in length and 0.1 to 1.5 km in width. The thickness is at least 400 m. The Ruossakero Nickel Project is at the basal contact zone of an NW-trending komatiitic cumulate sequence. There are currently two principal bodies defined: the Main Body and the smaller Eastern Body. The area has seen the interest and exploration work of GTK in the 1980's as well as Outokumpu, Anglo American, and Dragon Mining. Review has confirmed drilling by previous holders had intersected: 14m @ 1.03% Ni, 240ppm Co; 30m@ 0.64% Ni, 433ppm Co; 16m @ 0.92% Ni, 244ppm Co. Announcement • Jul 12
Resource Mining Corporation Limited Completes Maiden KNP Nickel Drilling Program Resource Mining Corporation Limited announced that it has completed its maiden RC drilling program at its Kabulwanyele Project. The completed program comprised 19 holes for a total of 799m drilled. Geological logging of the RC chips has identified a lateritic profile comprising intercepts of ferruginous layers, saprolite (highly weathered rocks), saprolitic rocks (moderately weathered rocks) and fresh rock. The thickness of the ferruginous layer combined with saprolite /saprolitic rock layers ranges between 5m to 50m. Most of the holes ended in fresh rock. The drill holes to the north have generally not ended in fresh rock due to groundwater inundation that the RC rig is unable to clear through increased air pressure so those holes have ended predominantly in saprolitic rock. The samples collected from the drilling program have been dispatched to Nesch Mintek Mwanza for preparation before being shipped to the ALS Chemex South Africa for analysis. The assay results are expected in the next two months. A gravity survey program has been proposed to determine the size and characteristics of the deeply buried mafic-ulframafic inlier that has been weathered to form the identified nickel laterite anomalies. The program will commence in the next two weeks. The Gravity survey has the potential to define further targets associated with primary magmatic sulphide mineralization, these can be followed up by a ground Electromagnetic (EM) survey that would aid in the identification of any conducting sulphide layers that may exist at depth. Any combination of targets identified by the Gravity and EM surveys would then be drill tested using deeper diamond drilling. Kabulwanyele is a lateritic occurrence overlying a mafic-ultramafic layered intrusion. The nature of the exploration to date confirms the potential for both lateritic nickel zones as well as an underlying nickel-enriched source within the mafic-ultramafic inlier. The Project is located in the Mpanda District of Tanzania, approximately 35km from the eastern shore of Lake Tanganyika, with the area forming part of the western limb of the East African Rift systems. As background, in 2021 the Company conducted a sampling program that included a systematic collection of 254 soil samples and 19 rock chip samples from all tenements at the Project. All samples collected from this anomaly returned grades equal to, or exceeding, 500ppm Ni and 200ppm Co, with grades of up to 1.27% Ni tested in a rock sample, and up to 0.85% Ni in soils 1. Kabulwanyele is a lateritic occurrence overlying a mafic-ultramafic layered intrusion. The nature of the mineralisation present confirms the potential for both a possible lateritic nickel zone as well as an underlying nickel-enriched source within the serpentinite. Evidence for sulphide mineralization is supported by gossan-type box work structures seen within the ultramafic rock units. Announcement • Jun 28
Resource Mining Corporation Limited Announces Maiden Nickel Drilling Program Commences Resource Mining Corporation Limited announced that the Company has commenced its maiden drilling program at its Kabulwanyele Nickel Project in Tanzania. The program is comprised of 18 RC holes for a total of 1,000m that are testing a 2 km strike anomaly identified from previous soil and rock sampling program. The holes have been designed to provide geological data that will assist the Company in understanding the genetic model for mineralisation. Previous sampling program at Kabulwanyele reported very encouraging results including soil samples of up to 0.85% Ni and rock samples reported up to 1.27% Ni, with all samples returning grades equal to or exceeding 500ppm Ni and 200ppm Co1. The Project is located in the Mpanda District of Tanzania, approximately 35km from the eastern shore of Lake Tanganyika, with the area forming part of the western limb of the East African Rift systems. In 2021 the Company conducted a sampling program that included a systematic collection of 254 soil samples and 19 rock chip samples from all tenements at the Project. This program delivered highly encouraging nickel and cobalt results and delineated a Nickel-Cobalt anomaly with a strike length of 2km, which is broadly coincident with a historically mapped nickel laterite. Kabulwanyele is a lateritic occurrence overlying a mafic-ultramafic layered intrusion. Thenature of the mineralisation present confirms the potential for both a possible lateritic nickel zones as well as an underlying nickel-enriched source within the serpentinite. Evidence for sulphide mineralization is supported by gossan-type box work structures seen within the serpentinite rock units and further field mapping will be used to define the extent of this gossanic feature. Announcement • Jun 25
Resource Mining Corporation Limited has completed a Follow-on Equity Offering in the amount of AUD 1.2 million. Resource Mining Corporation Limited has completed a Follow-on Equity Offering in the amount of AUD 1.2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,000,000
Price\Range: AUD 0.12
Discount Per Security: AUD 0
Transaction Features: Subsequent Direct Listing Announcement • Jun 24
Resource Mining Corporation Limited Announces Due Diligence Commencing of Finland Nickel and Lithium Projects Resource Mining Corporation Limited announced the Company is proceeding with the evaluation of the 3 Finland projects exploration potential as part of the due diligence program to be undertaken during the Exclusive Option period. As previously announced, RMC has secured an exclusive option to acquire 3 projects in Finland: the Ruossakero Nickel Project in Northern Finland, the Kola Lithium Project in Central Finland and the Hirvikallio Nickel Project in Southern Finland (together, the "Target Projects"). The Target Project's areas are currently covered by 2-year "exploration reservations", valid till May 2024. These reservations allow completion of initial, non-invasive prospecting work, including mapping, outcrop sampling, soil sampling, and geophysics (drilling, pitting, or trenching are not allowed until conversion into exploration licence). The exclusive option secured by the Company is a four month option to acquire Element92 Pte Ltd, a Singaporean domiciled entity, which is indirectly the sole legal and beneficial owner of the Target Projects through its own wholly owned Finnish subsidiary. As the reservation owner, it has the exclusive right to convert these exploration reservations into an exploration license. During the term of the Option, the Company is conducting due diligence to assess the Target Projects (and their holding company), as well as negotiating the terms of the acquisition should the Company elect to proceed. Historical work confirmed the presence of Nickel (Ruossakero) and Lithium (Kola and Hirvikallio) in the reservation areas. As a result of this past exploration work by private companies and by the Finnish Geological Survey (GTK), extensive geological, geochemical and geophysical datasets are available. To evaluate the Target Projects in detail, the Company is undertaking the following program at its own expense to further its due diligence investigations: Acquire and process all relevant existing datasets from GTK. Complete a general survey of the full project areas to obtain a better understanding of the local geology, to verify and correct existing geological maps and to sample relevant outcrops. Complete a detailed survey of the areas with known mineralisation, including detailed geological and structural mapping and sampling of existing pits and trenches and outcrop. Complete a detailed survey of potential new targets identified during the general area survey. Consider a geochemical soil sampling In Hirvikallio It is anticipated that processing purchased data and desktop preparations will take 3 to 4 weeks, and that field work and reporting will take a further 4 to 5 weeks. The widely followed Fraser Mining Institute currently ranks Finland as the 9th most attractive jurisdiction for mining investment, and among the top ten over the last nine surveys. The country boasts a good geological database and ore potential, political stability, high educational level, and high-quality infrastructure. Mining is a key part of the Finnish economy, and the nation is Europe's leading producer of Nickel. The Company will continue to update shareholders as negotiations and due diligence progress. Announcement • Jun 20
Resource Mining Corporation Limited Announces Executive Changes Resource Mining Corporation Limited announced the appointment of Noel O'Brien as a Non-Executive Technical Director of the Company with effect from June 20, 2022. Mr. O'Brien is a highly experienced metallurgist and company executive with broad experience across a distinguished career of over 40 years. Mr. O'Brien has a depth of technical knowledge across metallurgy as well as processing strategy and analysis. Mr. O'Brien has been a Non-Executive Director of Galileo Mining Limited since December 2017, and during his tenure the company's market capitalisation has increased tenfold. Mr. O'Brien also holds a number of advisory roles across other listed and unlisted exploration and mining companies. Separately, the Company notes that Mr. Jason Livingstone, a Non-Executive Director of the Company, has resigned effective today. Mr. Livingstone will however continue to work with the Company as a consultant geologist for the foreseeable future. Announcement • Jun 16
Resource Mining Corporation Limited announced that it expects to receive AUD 1.2 million in funding Resource Mining Corporation Limited. announced a private placement of 10,000,000 fully paid ordinary shares at AUD 0.12 per share for gross proceeds of AUD 1,200,000 on June 16, 2022. The transaction will include participation from existing shareholder and new sophisticated investors. The offering includes 5,000,000 unlisted options, on the basis of one option for every two shares, at an exercise price of AUD 0.15 expiring 36 months after date of issue. The offering is expected to close on or before June 22, 2022. The transaction is subject to approval from the stock exchange. Announcement • Jun 01
Resource Mining Corporation Limited Announces Maiden Nickel Drill Program At Kabulwanyele to Commence Resource Mining Corporation Limited announced the Company is preparing for an 18-hole, 1,000-metre Reverse Circulation (RC) drilling program at the Kabulwanyele Nickel Project The Project is located in the Mpanda District of Tanzania, approximately 35km from the eastern shore of Lake Tanganyika, with the area forming part of the western limb of the East African Rift systems. As background, in 2021 the Company conducted a sampling program that included a systematic collection of 254 soil samples and 19 rock chip samples from all tenements at the Project. This program delivered highly encouraging nickel and cobalt results and delineated a Nickel-Cobalt anomaly with a strike length of 2km as illustrated in Figure 1, which is broadly coincident with a historically mapped nickel laterite. All samples collected from this anomaly returned grades equal to, or exceeding, 500ppm Ni and 200ppm Co, with grades of up to 1.27% Ni tested in a rock sample, and up to 0.85% Ni in soils 2. Kabulwanyele is a lateritic occurrence overlying a mafic-ultramafic layered intrusion. The nature of the mineralisation present confirms the potential for both a possible lateritic nickel zones as well as an underlying nickel-enriched source within the serpentinite. Evidence for sulphide mineralization is supported by gossan-type box work structures seen within the serpentinite rock unitsand further field mapping will be used to define the extent of this gossanic feature. Following the highly encouraging findings from the 2021 field season, the company is now planning a maiden drill program on a systematic grid of 200m by 800m. A total of 18 RC drill holes will be drilled to a depth of 40m, for a total of 720m of total drilling depth, with an additional 280m budgeted for potential deeper drilling at the centre of the laterite body. This program is aimed at testing for the presence of massive sulphides underlying the laterite cover, increasing the geological understanding of the area. The location of the 18 planned holes is displayed. Resource Mining Corporations' in-country geology team has mobilised to site and has started requisite preparations. A bulldozer will be on site shortly to provide access and initiate drill pads preparation. The Company reported that it has appointed local contractor, Amazon Mine Works. Amazon is ready to mobilise as soon as access is complete and sufficient drill pads have been prepared. The Company anticipates drilling will commence in two weeks and will take approximately six weeks to complete. Assay results are likely to take a further 8 weeks to receive. This portfolio comprises five projects. Kabanga North, along strike from Kabanga Nickel which BHP is heavily investing in; Kapalagulu which complements Kabulwanyele; and the Southern projects: Liparamba, Kitai and Mbinga, which were previously held by BHP. The Company has been conducting due diligence on the MNPL project portfolio and looks forward to updating investors on this soon. An Independent Expert report is being prepared and will accompany the notice of meeting the Company will send to Shareholders in connection with seeking the necessary Shareholder approvals. Announcement • May 26
Resource Mining Corporation Limited has completed a Follow-on Equity Offering in the amount of AUD 0.62 million. Resource Mining Corporation Limited has completed a Follow-on Equity Offering in the amount of AUD 0.62 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,000,000
Price\Range: AUD 0.062
Transaction Features: Subsequent Direct Listing Announcement • May 15
Resource Mining Corporation Limited Appoints Asimwe Kabunga as Director Resource Mining Corporation Limited announced the appointment of Asimwe Kabunga as Director. Date of appointment is 9 May 2022. Announcement • May 09
Resource Mining Corporation Limited (ASX:RMI) agreed to acquire Nickel Projects in western Tanzania from Kabunga Holdings Pty Ltd for AUD 3.8 million. Resource Mining Corporation Limited (ASX:RMI) agreed to acquire Nickel Projects in western Tanzania from Kabunga Holdings Pty Ltd for AUD 3.8 million on April 8, 2022. MNTL will enter into a Royalty Deed with the Vendor whereby a 1.5% Net Smelter Return royalty will be paid to the Vendor from future production from the area the subject of the MNTL Projects. Resource Mining Corporation Limited is conducting private placement for AUD 4 million and AUD 1.85 million of that will be used for supporting the acquisition of MNTL Projects. Completion is subject to and conditional upon the satisfaction of various conditions precedent, Acquisition will need to be approved by RMC shareholders, conducting due diligence by June 8, 2022, Third party approval and Prospecting Licences Applications approvals. If any of the above conditions are not satisfied or waived by 8 September 2022, the Acquisition may be terminated. Transaction is expected to complete on or before Early August 2022. Board Change • Apr 27
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). Interim Chairman Trevor Matthews 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. Announcement • Apr 04
Resource Mining Corporation Limited Announces Executive Changes Resource Mining Corporation Limited announced the appointment of highly credentialled resources executive Mr. Jason Livingstone as a non-executive Director on the Board effective immediately, as the Company continues the transition of its board and management team to advance its Tanzanian nickel/cobalt opportunities. Mr. Livingstone commenced his career in Kalgoorlie over 20 years ago. Mr. Livingstone has worked in Australia, Africa, China and Panama, including managing exploration and resource definition programs in Tanzania. His commodity experience includes gold, copper, nickel, lead, zinc, iron ore, graphite and vanadium. He is currently technical director for ASX listed gold company, Metalicity Limited. Coinciding with this appointment, the Company also announced the resignation of chairman Mr. Bill Mackenzie and the appointment of Mr. Trevor Matthews as interim Chairman. Announcement • Nov 30
Resource Mining Corporation Limited announced that it expects to receive AUD 0.5 million in funding Resource Mining Corporation Limited announced a private placement of 31,250,000 common shares at a price of AUD 0.016 per share for gross proceeds of up to AUD 500,000 on November 30, 2021. The transaction includes participation from sophisticated and professional investors. The shares will be issued in two tranches, first tranche of 14,375,000 shares to be issued under existing ASX listing rule 7.1 capacity and second tranche of 16,875,000 shares to be issued upon shareholder approval to be held on or about January 21, 2022. Settlement of the first tranche is anticipated on or before December 9, 2021. Executive Departure • Nov 23
Non-Executive Director Chi Zhang has left the company On the 22nd of November, Chi Zhang's tenure as Non-Executive Director ended after 15.6 years in the role. We don't have any record of a personal shareholding under Chi's name. Chi is the only executive to leave the company over the last 12 months. Reported Earnings • Oct 01
Full year 2021 earnings released: AU$0.002 loss per share (vs AU$0.001 loss in FY 2020) Full year 2021 results: Net loss: AU$733.7k (loss widened 73% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 49% per year, which means it is well ahead of earnings. Announcement • Jun 08
Resource Mining Corporation Limited Provides Update on Initial Field Program At Its Tanzania Kabulanywele Nickel Project Resource Mining Corporation Limited provided an update on the recently completed initial field program at its Tanzania Kabulanywele Nickel Project located in Mpanda District, Tanzania. The initial exploration program included comprehensive geological mapping of the tenement area in conjunction with systematic soils and rock sampling. Highlights The mapping program has successfully confirmed the presence of previously mapped nickel laterites in the tenement area. Delineated laterite presence in an area; total length of 2km with an average width of 0.8km. The mapping program identified the presence of laterites outside the current tenement boundary. Application has been made for an additional prospecting licence to cover the newly identified laterite extension. A total of 264 soils and rock samples collected from the project area have been submitted to SGS Mwanza for assay sample preparation with final chemical assaying in SGS's outh African laboratories. Chemical assay results are expected to be available within one month. Resource Mining Corporation is pleased to provide the following exploration update on its recently acquired Kabulanywele Nickel Project in Tanzania. The Project is located approximately 35km from the western shore of Lake Tanganyika. The area is part of the western limb of East African Rift systems. RMI'S Tanzanian based exploration team recently completed a comprehensive mapping program in conjunction with a systematic soil and rock sampling program across the Project area. The exploration program conducted concurrently, was completed within the allocated budget and timeframe. Announcement • Feb 13
Resource Mining Corporation Limited (ASX:RMI) completed the acquisition of 74.25% stake in Kabulwanyele Nickel Project from Kabunga Holdings Pty Ltd. Resource Mining Corporation Limited (ASX:RMI) agreed to acquire 74.25% stake in Kabulwanyele Nickel Project from Kabunga Holdings Pty Ltd for approximately TZS 850 million on February 9, 2021. As per the transaction, Resource Mining Corporation Limited will issue 29.6 million shared to Kabunga Holdings Pty Ltd. The transaction is subject to consummation of due diligence investigation and is expected to complete within the next week.
Resource Mining Corporation Limited (ASX:RMI) completed the acquisition of 74.25% stake in Kabulwanyele Nickel Project from Kabunga Holdings Pty Ltd on February 11, 2021. Announcement • Feb 11
Resource Mining Corporation Limited (ASX:RMI) agreed to acquire 74.25% stake in Kabulwanyele Nickel Project from Kabunga Holdings Pty Ltd for approximately TZS 850 million. Resource Mining Corporation Limited (ASX:RMI) agreed to acquire 74.25% stake in Kabulwanyele Nickel Project from Kabunga Holdings Pty Ltd for approximately TZS 850 million on February 9, 2021. As per the transaction, Resource Mining Corporation Limited will issue 29.6 million shared to Kabunga Holdings Pty Ltd. The transaction is subject to consummation of due diligence investigation and is expected to complete within the next week. Announcement • Nov 10
Resource Mining Corporation Limited, Annual General Meeting, Dec 11, 2020 Resource Mining Corporation Limited, Annual General Meeting, Dec 11, 2020, at 10:30 W. Australia Standard Time. Location: BDO, 38 Station Street, Subiaco Western Australia Australia Agenda: To receive and consider the financial report of the company for the year ended 30 June 2020, together with the directors' report and the auditor's report as set out in the annual report; to consider non-binding resolution to adopt remuneration report; to consider re-election of William Mackenzie as a Director; to consider the approval to amend Convertible Notes held by Sinom (Hong Kong) Limited; to consider the approval of 7.1A Mandate; to consider the replacement of constitution; and to consider other business. Reported Earnings • Oct 01
Full year earnings released - AU$0.0014 loss per share Over the last 12 months the company has reported total losses of AU$425.3k, with losses narrowing by 5.2% from the prior year. 