Announcement • Apr 24
Strata Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.575523 million. Strata Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.575523 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 78,776,159
Price\Range: AUD 0.02
Discount Per Security: AUD 0.0012
Transaction Features: Subsequent Direct Listing Announcement • Apr 10
Strata Minerals Limited (ASX:SMX) completed the acquisition of P39/6345 for for AUD 0.1 million. Strata Minerals Limited (ASX:SMX) entered into binding Heads of Agreement to acquire P39/6345 for AUD 0.1 million on April 8, 2026. A cash consideration of AUD 0.04 million will be paid by Strata Minerals Limited. The consideration consists of 0.02 million in common equity of Strata Minerals Limited. Strata Minerals Limited will pay an earnout/contingent payment of AUD 0.04 million cash. As part of consideration, AUD 0.08 million is paid towards assets of P39/6345. The acquisition is subject to standard conditions precedent for an agreement of this nature.
Strata Minerals Limited (ASX:SMX) completed the acquisition of P39/6345 on April 9, 2026.Strata Minerals Limited (ASX: SMX, “Strata” or “the Company”) advises that it has completed the issue of 1,214,694 fully paid ordinary shares in the Company (“Shares”) as part of the consideration in respect of the acquisition of tenement P39/6345. Announcement • Apr 09
Strata Minerals Limited (ASX:SMX) entered into binding Heads of Agreement to acquire P39/6345 for AUD 0.1 million. Strata Minerals Limited (ASX:SMX) entered into binding Heads of Agreement to acquire P39/6345 for AUD 0.1 million on April 8, 2026. A cash consideration of AUD 0.04 million will be paid by Strata Minerals Limited. The consideration consists of 0.02 million in common equity of Strata Minerals Limited. Strata Minerals Limited will pay an earnout/contingent payment of AUD 0.04 million cash. As part of consideration, AUD 0.08 million is paid towards assets of P39/6345. The acquisition is subject to standard conditions precedent for an agreement of this nature. New Risk • Mar 12
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$3.1m 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$3.1m free cash flow). Earnings have declined by 8.3% per year over the past 5 years. Shareholders have been substantially diluted in the past year (37% increase in shares outstanding). Revenue is less than US$1m (AU$109k revenue, or US$78k). Market cap is less than US$10m (AU$7.68m market cap, or US$5.48m). Minor Risk Share price has been volatile over the past 3 months (16% average weekly change). New Risk • Feb 17
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 18% 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 Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 17% per year over the past 5 years. Shareholders have been substantially diluted in the past year (71% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$7.81m market cap, or US$5.53m). Announcement • Dec 13
Strata Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.175 million. Strata Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.175 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 55,250,000
Price\Range: AUD 0.02
Security Name: Ordinary Share
Security Type: Common Stock
Securities Offered: 3,500,000
Price\Range: AUD 0.02
Transaction Features: Subsequent Direct Listing New Risk • Oct 23
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 35% 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$2.2m free cash flow). Earnings have declined by 17% per year over the past 5 years. Shareholders have been substantially diluted in the past year (35% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$5.66m market cap, or US$3.67m). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Significant insider selling over the past 3 months (AU$205k sold). Announcement • Sep 24
Strata Minerals Limited, Annual General Meeting, Nov 20, 2025 Strata Minerals Limited, Annual General Meeting, Nov 20, 2025. Location: at the office of bdo on level 9, mia yellagonga tower 2, 5 spring street, wa 6000., perth Australia New Risk • Sep 17
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$2.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.2m free cash flow). Earnings have declined by 17% per year over the past 5 years. Shareholders have been substantially diluted in the past year (30% increase in shares outstanding). Revenue is less than US$1m (AU$22k revenue, or US$15k). Market cap is less than US$10m (AU$4.65m market cap, or US$3.11m). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Significant insider selling over the past 3 months (AU$205k sold). Announcement • Jun 30
Strata Minerals Limited Formalizes its Successful Application for Western Australian State Government Grant of Up to $200,000 for Exploration Drilling at its Penny South Gold Project, Western Australia Strata Minerals Limited advised that it has formalised its successful application for a Western Australian State Government grant of up to $200,000 for exploration drilling at its Penny South Gold Project, Western Australia. The grant was offered following a competitive application process under Round 31 of the WA Government's Exploration Incentive Scheme ("EIS Grant"). The EIS Grant is managed by the Geological Survey of Western Australia and the Resources Strategy Division of the Department of Energy, Mines, Industry Regulation and Safety ("DEMIRS") to stimulate exploration leading to discoveries. Applications are assessed by an expert panel of officers, moderated by independent industry representatives nominated by the Director General, DEMIRS. The scheme preferentially funds applications of high quality, technically and economically sound proposals that promote new exploration concepts and exploration technologies. Round 31 co-funding grantees were offered to 49 applicants. The EIS Grant will reimburse Strata up to 50% of direct drilling costs and 50% of drill mobilisation costs, to a combined maximum amount of $200,000. The EIS Grant is specific to the Company's Penny South Project. Strata Minerals has secured a government co-funded exploration drilling grant for a "Deep Drill Program" at the Penny South Gold Project with the following specifications: Mineral exploration 1 or 2 drill holes (max) Each hole must have a planned end of hole depth of 600 m or greater Drill type must be diamond drilling The hole/s may include a precollar (e.g., RC or similar). Diamond drilling is selected for its ability to provide high-quality core samples, enabling detailed geological analysis to assess the potential for economic gold mineralisation at depth. The grant offers up to $200,000 for a drilling program to be completed between 1 June 2025 and 31 May 2026, and refund amount is the sum of up to 50% direct drilling costs and up to 50% mobilisation costs. The Company is finalising plans for the next phase of drilling at Penny South, inclusive of a deeper EIS co- funded hole, which will target deeper extensions of mineralised zones identified in the recent maiden RC drilling program. Drilling activities are expected to commence in Third Quarter 2025, with further details to be provided in an upcoming update. Announcement • Apr 09
Strata Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 1.6 million. Strata Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 1.6 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 42,703,766
Price\Range: AUD 0.03
Discount Per Security: AUD 0.0018
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,629,567
Price\Range: AUD 0.03
Discount Per Security: AUD 0.0018
Transaction Features: Subsequent Direct Listing Announcement • Mar 27
Strata Minerals Limited Announces the Completion of Its Maiden Rc Drilling Program At the Penny South Gold Project in Western Australia Strata Minerals Limited announced the completion of its maiden RC drilling program at the Penny South Gold Project in Western Australia. The campaign, consisting of 12 holes drilled in total for approximately 2,583 metres, finished within the scheduled timeframe and was carried out safely and efficiently as part of the Company's drill-for-equity agreement with Topdrill. The other priority area (Target 3) targeted down-dip extensions of shallow gold anomalies identified in historical drilling. Announcement • Feb 12
Strata Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.6 million. Strata Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.6 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 42,703,766
Price\Range: AUD 0.03
Discount Per Security: AUD 0.0018
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,629,567
Price\Range: AUD 0.03
Discount Per Security: AUD 0.0018
Transaction Features: Subsequent Direct Listing New Risk • Jan 08
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 18% 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 Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 25% per year over the past 5 years. Shareholders have been substantially diluted in the past year (117% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$4.96m market cap, or US$3.08m). Announcement • Dec 19
Strata Minerals Limited Announces Change of Company Secretary Strata Minerals Limited announced the appointment of Sarah Hobson as Joint Company Secretary. Sarah is a CPA and Corporate Advisor at Automic Group with significant experience in corporate financial management and financial reporting services. The Company also announced that Tom O'Rourke has resigned as Joint Company Secretary. Steven Wood continues to act as Joint Company Secretary of Strata Minerals Limited. Announcement • Sep 28
NickelX Limited (ASX:NKL) completed the acquisition of Penny South Gold projects from Aurum Resources Limited (ASX:AUE) for AUD 1.12 million. NickelX Limited (ASX:NKL) agreed to acquire Penny South Gold projects from Aurum Resources Limited (ASX:AUE) for AUD 1.12 million on August 30, 2024. A cash consideration of AUD 0.06 million will be paid by NickelX Limited. The consideration consists of 3 million common equity of NickelX Limited at a deemed price of AUD 0.00000002 million per share, to be issued for assets of Penny South Gold projects. NickelX Limited will pay an earnout/contingent payment of AUD 1 million cash. As part of consideration, AUD 0.06 million is paid towards assets of Penny South Gold projects. NickelX Limited (ASX:NKL) will also assume an existing 1% royalty on the Penny South Project tenement. As of September 26, 2024, the Company issued 3,000,000 Shares in respect of the Penny South Gold Project.
The transaction is subject to approval of offer by acquirer shareholders and third party approval needed. On September 12, 2024, the issue of the consideration shares was approved by shareholders of NickelX Limited (ASX:NKL). .
NickelX Limited (ASX:NKL) completed the acquisition of Penny South Gold projects from Aurum Resources Limited (ASX:AUE) on September 27, 2024. New Risk • Sep 18
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 117% 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 25% per year over the past 5 years. Shareholders have been substantially diluted in the past year (117% increase in shares outstanding). Revenue is less than US$1m (AU$68k revenue, or US$46k). Market cap is less than US$10m (AU$4.88m market cap, or US$3.30m). Announcement • Sep 17
NickelX Limited, Annual General Meeting, Nov 07, 2024 NickelX Limited, Annual General Meeting, Nov 07, 2024. Location: at 191 st georges terrace, perth wa 6000 Australia New Risk • Sep 16
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 (22% 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$2.45m market cap, or US$1.65m). 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 • Aug 30
NickelX Limited (ASX:NKL) agreed to acquire Penny South Gold projects from Aurum Resources Limited (ASX:AUE) for AUD 1.12 million. NickelX Limited (ASX:NKL) agreed to acquire Penny South Gold projects from Aurum Resources Limited (ASX:AUE) for AUD 1.12 million on August 30, 2024. A cash consideration of AUD 0.06 million will be paid by NickelX Limited. The consideration consists of 3 million common equity of NickelX Limited to be issued for assets of Penny South Gold projects. NickelX Limited will pay an earnout/contingent payment of AUD 1 million cash. As part of consideration, AUD 0.06 million is paid towards assets of Penny South Gold projects.
The transaction is subject to approval of offer by acquirer shareholders and third party approval needed. New Risk • Aug 09
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 (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$2.25m market cap, or US$1.48m). Minor Risk Shareholders have been diluted in the past year (18% increase in shares outstanding). Announcement • Jul 18
NickelX Limited has filed a Follow-on Equity Offering in the amount of AUD 2 million. NickelX 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: 14,453,790
Price\Range: AUD 0.02
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 85,546,210
Price\Range: AUD 0.02
Transaction Features: Subsequent Direct Listing New Risk • Mar 02
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$2.3m 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$2.3m free cash flow). 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 (AU$37k revenue, or US$24k). Market cap is less than US$10m (AU$3.07m market cap, or US$2.01m). New Risk • Jan 26
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 17% 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 Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 44% per year over the past 5 years. Earnings have declined by 44% per year over the past 5 years. Revenue is less than US$1m. Revenue is less than US$1m. Market cap is less than US$10m (AU$3.51m market cap, or US$2.31m). Market cap is less than US$10m (AU$3.51m market cap, or US$2.31m). Announcement • Oct 21
NickelX Limited, Annual General Meeting, Nov 29, 2023 NickelX Limited, Annual General Meeting, Nov 29, 2023, at 11:00 W. Australia Standard Time. Location: Level 3, Read Buildings, 16 Milligan Street 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 Director's report, the Remuneration Report and the auditor's report; to consider the adoption of the Remuneration report; to consider election of Richard Monti as director; to consider the re-election of Oliver Kreuzer as director; to consider the ratification of prior issue of shares; and to consider such other matters. New Risk • Aug 12
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 16% 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 Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 58% per year over the past 5 years. Revenue is less than US$1m (AU$101k revenue, or US$65k). Market cap is less than US$10m (AU$7.09m market cap, or US$4.60m). Minor Risk Shareholders have been diluted in the past year (26% increase in shares outstanding). Announcement • Feb 15
NickelX Limited Defines Significant Ni-Cu-PGE Targets at Dalwallinu Project Seeking Julimar Style Ni-Cu-PGE NickelX Limited announced that it has completed, and processed data from, a detailed close spaced drone Magnetic Survey over the Dalwallinu project, refining targets where the Company is seeking Julimar Style Nickel-Copper-PGE mineralisation. The detailed magnetic survey covered the entire Barra Barra mafic ultra- mafic intrusive target with 50m spaced flight lines. Nickel X to commence a detailed infill soil sampling programs on 50m x 50m grids to refine and to extend selected targets (current survey completed on 100m x 200m grid). Previous surface geochemistry sampling recorded some of the Western Yilgarn PGE recordings (73.7ppb Pt & Pb with a 5km +10ppb Pt & Pb north-south strike) and 466ppm Ni and 843ppm Cu. The Dalwallinu project covers 86km2 of the entire Barra Barra Greenstone Belt, 150km NE of Julimar, is on accessible private farmland, containing sealed road frontage and where native title has been extinguished. Ground geophysics (electromagnetics (EM)) to commence over targets and planning of a maiden drill program to test priority EM and geochemistry target. Discussions with private landowners underway such that the next stage of work programs seeking Julimar style of Nickel-Copper-PGE mineralisation can commence. Dalwallinu Nickel Copper Pge Project: The Company contracted SensorEM to carry out a drone airborne magnetic survey over the entire Dalwallinu project tenement E70/5398. The survey was flown on 50m spaced lines, oriented east-west at a sensor height of 40m above ground. In all 771 line-kilometres of magnetic data was obtained over the project. The new magnetic data represents a far superior product to the previous regional magnetic data for target delineation on the project. Preliminary interpretation of the new magnetic data indicates that the Barra Barra Greenstone Belt intrusive targeted for Ni-Cu-PGE mineralisation represents a folded tabular body, either originally a dyke or a sill. The body appears to be tightly folded, with a western antiformal structure plunging steeply to the north in the west of the tenement, and a shallowly north plunging synformal structure in the east of the project. Overlaying the previously reported auger geochemistry data on the new magnetic data highlights an apparent intrusive body horizon just outboard and bordering the main folded magnetic strata, that is anomalous for Ni-Cu-PGE. This may represent a sill- like body lying structurally below and folded with the magnetic strata. Four areas are highlighted with anomalous metal values in the auger geochemistry data. These areas represent priority targets for follow-up exploration, as does investigation of the margins of the antiform folded magnetic body in the west of the project. Planning is currently underway to infill auger geochemistry over these four priority areas, with follow up ground electromagnetic surveys to follow. The results of the infill geochemistry and EM will be targeted with a maiden drilling program once appropriate permitting is in place. Dalwallinu Nickel Copper Pge Project: The Dalwallinu Nickel Project (E70/5398) covers 86km2 of the underexplored Barra Barra Greenstone belt in the emerging West Yilgarn, which is host to several recent Nickel-Copper- PGE discoveries including the world class Julimar Nickel-Copper-PGE discovery. Recent geochemical and geophysical work programs, evaluated by the Company have identified priority Nickel-Copper-PGE targets over a strike length of 6km, with more detailed geochemical, geophysical and drilling work planned. Announcement • Nov 18
NickelX Limited Commences Exploration at the Dalwallinu Project NickelX Limited has commenced exploration activities at the Dalwallinu Nickel Project, seeking Julimar style mineralisation in the emerging W Yilgarn following the completion of the Tenement Sale Agreement. Sensorem Pty Ltd. has been engaged by The Company and has commenced a low-level drone magnetometer survey of the entire project area at 50m line spacing. The magnetic survey will help constrain the magmatic stratigraphy of the target intrusive prospective for nickel-copper-PGE mineralisation. It is anticipated that the results of the magnetic survey will be available by the end of November. Geochemical, geophysical and field work programs have been planned and are being organised covering the high priority D1 target and the priority D2-D12 targets over a strike length of 6km of the Barra Barra greenstone belt where mafic and ultramafic units have been identified. The Dalwallinu Nickel Project (E70/5398) covers 86km2 of the underexplored Barra Barra Greenstone belt in the emerging West Yilgarn Nickel-Copper-PGE Province, which is host to a number of recent Nickel-Copper-PGE discoveries including the world class Julimar Nickel- Copper-PGE deposit. The Dalwallinu Nickel Project is located 208km NE of Perth and 1km off the Great Northern Highway, WA. Recent geochemical and geophysical work programs evaluated by the Company have identified approximately 12 priority Nickel-Copper-PGE targets over a strike length of 6km, with more detailed geochemical, geophysical and drilling work being organised. Evaluation of existing geochemical datasets has identified and prioritised the D1 Target as high priority, where previous surface samples returned highly anomalous assays including 362-674 ppm Ni, 201-349 ppm Cu and numerous +49 ppb Pd/Pt, and where the company is organising an infill soil sampling program. Evaluation of existing geophysical datasets supports the high priority D1 Target where the geochemical anomaly is coincident with a strong magnetic feature identified from publicly available geophysical datasets, and where the company is undertaking a close spaced drone magnetic survey. The high priority D1 Target is 1 of 12 priority targets identified over a strike length of 6km of the Barra Barra greenstone belt and where mafic and ultramafic units have been identified, representing an exciting underexplored Nickel-Copper-PGE project. Field exploration and drill hole siting is also being organised at Dalwallinu, which sits on accessible private farmland, containing sealed road frontage, where native title is extinguished, only 208km NE of Perth and 1km off the Great Northern Highway, WA. 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 Jonathan Downes 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
NickelX Limited Intersects Significant Massive Sulphides At Cosmos South NickelX Limited reported that a maiden diamond drilling program which commenced recently has been completed, with the first hole at the Cosmos South Project, within the prolific nickel and gold producing Wiluna Greenstone Belt, WA, where the Company is seeking buried channelised komatiite volcanic rocks prospective for nickel sulphide mineralisation. Diamond drill hole NKLCSDD001 encountered multiple horizons of stringer, vein, semi-massive and massive breccia sulphide up to 20m core width between downhole depths from 334m to 487m. The first hole was completed at 492.5m in mafic volcanic sediments. The sulphides encountered comprise pyrrhotite-marcasite/pyrite and lesser chalcopyrite as breccia matrix surrounding lithic fragments contained within quartz veins and broad zones of massive sulphide and quartz-breccia hosted within ultramafic and mafic volcanics and volcanogenic sediments. Portable XRF did not detect nickel in the sulphide assemblages. However, the host geology and sulphide composition and sulphide-quartz breccia matrix habit encountered are similar to descriptions of the nearby Bellevue Gold Mine host geology and mineralisation. The sulphide bearing intervals will be assayed for gold. The massive sulphide intersected is likely the source of the highly conductive electromagnetic response targeted at the CS1 Target and may account for the magnetic anomaly due to the massive pyrrhotite content. The Cosmos South Project is located 10km south of the world-class high-grade Cosmos Nickel operations (IGO Limited), 20km north of the world class Leinster Nickel operations (BHP - Nickel West), and 6km E of the Bellevue Gold Mine (Bellevue Gold Ltd) within the prolific Wiluna Greenstone Belt (WGB), WA. Cosmos South M36/580 is situated within a highly endowed nickel and gold rich region of the Wiluna Greenstone Belt (WGB). The WGB hosts world class nickel deposits of the Leinster Nickel Operations, Mt Keith, Yakabindie, Honeymoon Well and Cosmos as well as gold deposits at Bellevue Gold. Announcement • Oct 27
Nickel X Limited Commences Drilling at Cosmos South Nickel Project Nickel X Limited reported that a maiden 1,500m diamond drilling works program has commenced at the Cosmos South Nickel Project within the prolific Nickel producing Wiluna Greenstone Belt, WA, where the company is seeking buried channelised komatiite volcanic rocks prospective for nickel sulphide mineralisation. The Cosmos South Nickel Project is located 10km S of the world-class high-grade Cosmos Nickel operations (IGO Limited) and 20km N of the world class Leinster Nickel operations (BHP Nickel West), within the prolific Nickel producing Wiluna Greenstone Belt (WGB), WA. Cosmos South M36/580 is situated within a highly endowed nickel rich region of the Wiluna Greenstone Belt (WGB). The WGB hosts world class nickel deposits of the Leinster Nickel Operations, Mt Keith, Yakabindie, Honeymoon Well and Cosmos. Announcement • Oct 25
NickelX Limited Appoints Richard Monti as Non-Executive Director NickelX Limited reported that Mr. Richard Monti will join the board of directors as a Non-Executive Director, with the appointment date effective after the Company's Annual General Meeting (AGM) to be held on the 24 November 2022. Richard Monti is a geologist with a successful career of over 35 years in the international mineral resource industry resulting in broad industry knowledge and strong strategic planning capabilities. He has first-hand working knowledge of all aspects of the industry from project generation, exploration, resource, feasibility, construction, operations, finance, marketing and divestment. Mr. Monti has worked in diverse countries with exposure to most commodities including base metals, nickel, iron ore, coal, industrial minerals, potash and gold. He also has over 60 director-years' experience on 15 ASX and TSX-listed mining and exploration companies from micro-caps through to mid-size miners and has built and managed teams of up to 70 personnel. He worked for a number of international and Australian companies including Anaconda Nickel, RTZ Exploration, the North Group and the Normandy Group.During a 7-year term at Anaconda Nickel, he held general manager positions in technical, commercial and marketing fields. Mr. Monti was a principal of corporate advisory firm, Ventnor Capital, from 2005 to 2010 and isthe principal of Terracognita which supplies advice to resource industry companies. He has proven experience and understanding of equity capital markets, debt funding and has strong relationships with broking and banking houses in Australia and Canada. Announcement • Oct 24
NickelX Limited, Annual General Meeting, Nov 24, 2022 NickelX Limited, Annual General Meeting, Nov 24, 2022, at 13:00 W. Australia Standard Time. Location: 945 Wellington Street WEST PERTH WA 6005 West Perth Western Australia Australia Agenda: To receive and consider the annual financial report of the Company for the financial year ended 30 June 2022 together with the declaration of the Directors, the Director's report, the Remuneration Report and the auditor's report; to consider ADOPTION OF REMUNERATION REPORT; to consider RE-ELECTION OF DIRECTOR MR KRISTIN BUTERA; to consider APPROVAL OF 7.1A MANDATE; to consider RATIFICATION OF PRIOR ISSUE OF OPTIONS LISTING RULE 7.1; to consider RATIFICATION OF PRIOR ISSUE OF SHARES LISTING RULE 7.1; and to consider other matters. Announcement • Oct 20
NickelX Limited Receives Exploration Incentive Scheme Drilling Grant Awarded for the Biranup Gold Project NickelX Limited reported that it has been awarded an Exploration Incentive Scheme (EIS) grant of up to AUD 180,000 by the WA Government, in support of four diamond drill holes at the Company's 100% owned Biranup Gold Project, located in the world class Albany Fraser Oregen, WA. The Black Dragon and Red Dragon gold targets, within the Biranup Gold Project, are located ~30km NE of the Tier 1 Tropicana gold operations and ~35km SW of the emerging Hercules gold discovery, that is spatially coincident with the Black Dragon shear zone, as well as a >250km-structural feature in gravity data that also passes through Tropicana. Black Dragon is marked by an area of sub-cropping basement surrounded and elsewhere covered by colluvium and wind-blow sand. Gold mineralisation at Black Dragon is associated with quartz veining, hematite breccia, iron-rich sheared basement schist and gneiss and sericite-altered granite with disseminated pyrite. Individual veins are 0.3 to 5.0m-wide and can be traced at surface for 10 to 30m along strike. Multiple mineralised veins have been recorded, dominantly striking ENE-WSW and N-S. Their dips are unknown. The limited historical drilling has thus far failed to explain the surface gold- silver-tellurium anomalism or provide information about the orientation, structural controls on, genesis, or source for the mineralisation. The Company's planned holes at the Black Dragon Target will test a coincident IP resistivity and surface geochemical anomaly over an area of 10km × 3km. No diamond drilling has ever been completed in this area. The Company's planned drill holes at the Red Dragon Target will test the down-dip extension of known gold mineralised shear zone that dips gently to the south-east. Historical drilling stopped too short to intersect significant mineralisation. Announcement • Oct 06
NickelX to Commence Exploration Dalwallinu Ni-Cu-PGE Project NickelX Limited reported that the Company is set to commence exploration activities at the Dalwallinu Nickel Project, seeking Julimar style mineralisation in the emerging W Yilgarn following the completion of the Tenement Sale Agreement. The Dalwallinu Nickel Project covers 86km2 of the underexplored Barra Barra Greenstone belt in the emerging West Yilgarn Nickel Province, which is host to a number of recent Nickel- Copper-PGE discoveries including the Julimar Nickel-Copper-PGE discovery. Geochemical, geophysical and field work programs have been planned and being organised covering the high priority D1 target and the priority D2-D12 targets over a strike length of 6km of the Barra Barra greenstone belt where mafic and ultramafic units have been identified. Dalwallinu Nickel Project Summary: The Dalwallinu Nickel Project (E70/5398) covers 86km2 of the underexplored Barra Barra Greenstone belt in the emerging West Yilgarn Nickel-Copper-PGE Province, which is host to a number of recent Nickel-Copper-PGE discoveries including the world class Julimar Nickel- Copper-PGE discovery. The Dalwallinu Nickel Project is located 208km NE of Perth and 1km off the Great Northern Highway, WA. Recent geochemical and geophysical work programs, evaluated by the Company have identified approximately 12 priority Nickel-Copper-PGE targets over a strike length of 6km, with more detailed geochemical, geophysical and drilling work being organised. Announcement • Aug 30
NickelX Progresses Drilling Permitting for Cosmos South Nickel X Limited reported that the Company has signed a Land Access and Mineral Exploration Deed of Agreement with the Tjiwarl (Aboriginal Corporation) RNTBC, and is currently organising a Heritage Survey, booked for early September, prior to a 1,500m drilling program, at the Cosmos South Nickel Project. The Company was recently awarded a co-funded drilling grant of up to AUD 180,000 under the WA Government Exploration Incentive Scheme (EIS) and is negotiating a drilling contract with DDH1 Drilling, who are active in the Wiluna Greenstone Belt. Drilling at Cosmos South is planned to commence in the September Quarter.The Cosmos South Nickel Project is located ~10km South of the world-class Cosmos Nickel operations (IGO Limited) and ~20km North of the world class Leinster Nickel operations (BHP Nickel West), within the prolific nickel producing Wiluna Greenstone Belt (WGB), in the Tier 1 mining province of Western Australia. Cosmos South M36/580 is situated within a highly endowed nickel rich region of the Wiluna Greenstone Belt (WGB). The WGB hosts world class nickel deposits of the Leinster Nickel Operations, Mt Keith, Yakabindie, Honeymoon Well and Cosmos. Announcement • Jul 07
Nickel X Limited Magnetic Survey to Extend Targets At Cosmos South Nickel X Limited reported that a second and follow up magnetic survey across the southern portion of the Cosmos South Nickel Project has been successfully completed to enhance existing prominent magnetic features consistent with buried channelised komatiite volcanic rocks prospective for nickel sulphide mineralisation. Nickel X contracted Drone Geoscience Pty Ltd. to undertake a Drone Magnetic survey over the southern portion of M36/580, and Southern Geoscience Consultants Pty Ltd. to process the data with a view to map further the ultramafic rocks and identify drill targets at the CS2 target. Data processing is underway including integration of data received from the initial survey over the northern portion of M36/580 The Cosmos South Nickel Project is located 10km S of the world-class high-grade Cosmos Nickel operations (IGO Limited) and 20km N of the world class Leinster Nickel operations (BHP Nickel West), within the prolific Wiluna Greenstone Belt (WGB), WA. Cosmos South Nickel Project Summary: Cosmos South M36/580 is situated within a highly endowed nickel rich region of the Wiluna Greenstone Belt (WGB). The WGB hosts world class nickel deposits of the Leinster Nickel Operations, Mt Keith, Yakabindie, Honeymoon Well and Cosmos. The Cosmos South project is covered by recent transported cover sequences associated with the Lake Miranda drainage system. Mapping of subsurface lithology is dependent on interpretation of geophysical data. Completed Magnetic Surveys at the CS1 and CS2 Targets, Cosmos South Nickel Project: Existing airborne magnetic survey data at Cosmos South was not considered optimal for use in drill targeting at CS2. The recent Drone Magnetics survey was completed on 25 m spaced east-west traverses at a height of approximately 30m above ground, offering significantly better data resolution and importantly integration with the recent survey undertaken over the CS1 Target. The survey objective of the Drone Magnetics was to better define the magnetic characteristics of the strata and to better map subsurface structure (faults, etc) and lithology based on the results. The resolution of the existing magnetic data was insufficient to map local variations in the interpreted buried komatiite volcanic lithologies that may represent channelized environments within the larger komatiite sequence. Such channelised volcanic flows are critical to formation of nickel sulphide deposits. NEXT STEPS: Data has been received over the CS2 Target and processing is underway including the integration of data received from CS1 Target survey, to better define the magnetic characteristics of the strata and to better map subsurface structure and lithology based on the results. Results and drill hole planning for CS2 is anticipated to be complete within the coming weeks. Additionally, the company is currently in the process of obtaining the required access agreements, permits and contractor engagement to drill test the CS1 target identified. Four drill holes are planned (in two sets of two drill holes) to test the near-surface and down dip extension of the conductivity and magnetic features identified. Announcement • Jun 07
NickelX Limited Expands Gold Footprint Along Strike from Tropicana NickelX Limited reported that it has expanded its gold footprint along strike from the world class Tropicana Gold operations by lodging a further 42km2 of Exploration License Applications (ELA's) adjoining the company's existing high priority gold targets at Black Dragon and Red Dragon within the Company's 100% owned Biranup Project, located in the Albany Fraser Orogen, WA. The new ELA's and the Black Dragon and Red Dragon gold targets are located ~30km NE of the Tier 1 Tropicana gold operations and ~35km SW of the emerging Hercules gold discovery, that is spatially coincident with the Black Dragon shear zone, as well as a >250km-structural feature in gravity data that also passes through Tropicana. The Black Dragon gold target at the Company's Biranup Project is located in the northern Albany-Fraser Orogen (AFO), ca. 30 km NE of the Tier 1 Tropicana gold operations and 35km SW of the emerging Hercules gold discovery, all of which lie along the interpreted Northern AFO Gold Corridor. The Black Dragon and Red Dragon prospects are situated along the Black Dragon shear zone, a laterally extensive (>100km-long), NNE-SSW to NE-SW striking and ESE-dipping thrust separating the 2,720 to 1,700 Ma Tropicana Zone to the S and the 1,815 to 1,625 Ma Biranup Zone to the N. At the Biranup Project, the Tropicana Zone is represented by the ca. 2,640 Ma Tropicana Gneiss and several intrusive units. The Biranup Zone is mainly comprised of the 1,815 to 1,800 Ma Black Dragon Gneiss and an unnamed metagranitic unit. Black Dragon is marked by an area of sub-cropping basement surrounded and elsewhere covered by colluvium and wind-blow sand. Gold mineralisation at Black Dragon is associated with quartz veining, hematite breccia, iron-rich sheared basement schist and gneiss and sericite-altered granite with disseminated pyrite. Individual veins are 0.3 to 5.0m-wide and can be traced at surface for 10 to 30m along strike. Multiple mineralised veins have been recorded, dominantly striking ENE-WSW and N-S. Their dips are unknown. The limited historical drilling has thus far failed to explain the surface gold-silver-tellurium anomalism or provide information about the orientation, structural controls on, genesis, or source for the mineralisation. Announcement • Apr 27
NickelX Limited Confirms High Priority Drill Targets At Cosmos South NickelX Limited reported that a recent magnetic survey across the Cosmos South Nickel Project has confirmed that very strong conductors defined by MLEM and FLEM surveys are associated with prominent magnetic features consistent with buried channelised komatiite volcanic rocks prospective for nickel sulphide mineralisation. NickelX contracted Drone Geoscience Pty Ltd. to undertake a Drone Magnetic survey in the June Quarter and Southern Geoscience Consultants Pty Ltd. to process the data to further map ultra-mafic rocks and identify drill targets. The Cosmos South Nickel Project is located 10km south of the world-class high-grade Cosmos Nickel operations (Western Areas Limited - IGO Limited) and 20km North of the world class Leinster Nickel operations (BHP - Nickel West), within the prolific Wiluna Greenstone Belt (WGB), WA. Cosmos South M36/580 is situated within a highly endowed nickel rich region of the Wiluna Greenstone Belt (WGB). The WGB hosts world class nickel deposits of the Leinster Nickel Operations, Mt Keith, Yakabindie, Honeymoon Well and Cosmos (Figure 1). The Cosmos South project is covered by recent transported cover sequences associated with the Lake Miranda drainage system. Mapping of subsurface lithology is dependent on interpretation of geophysical data. Existing airborne magnetic survey data at Cosmos South was not optimal for use in targeting, having been acquired at 200 m line spacing at a height of 80 m above ground and flown on a bearing sub-parallel to strata of 160-340 degrees. The recent Drone Magnetics survey (Figure 2) was completed on 25 m spaced east-west traverses at a height of approximately 30m above ground, offering significantly better data resolution. The survey objective of the Drone Magnetics was to better define the magnetic characteristics of the strata associated with the identified MLEM and FLEM conductivity anomaly's and to better map subsurface structure (faults, etc) and lithology based on the results. The resolution of the existing magnetic data was insufficient to map local variations in the interpreted buried komatiite vocanic lithologies that may represent channelised environments within the larger komatiite sequence. Such channelised volcanic flows are critical to formation of nickel sulphide deposits. 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. Independent Non-Executive Chairman Jonathan Downes 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 29
NickelX Commences Exploration at Cosmos South Nickel Project NickelX Limited reported that it has commenced exploration activities at the Cosmos South Nickel Project ("the Project") after receiving overwhelming shareholder support to acquire the Project. Notification to the vendors of the Project that it will exercise the Option and commence exploration activities has been provided. The Cosmos South Nickel Project is located 10km south of the world-class, high-grade Cosmos Nickel operations (Western Areas Limited - IGO Limited) and 20km north of the world class Leinster Nickel operations (BHP - Nickel West), within the prolific Wiluna Greenstone Belt (WGB). Pursuant to the initial Terms Sheet, NickelX agreed to an exclusive option to purchase the Cosmos South Nickel Project and, subject to shareholder approval, exercised the option within the relevant timeframe. According to the exercise of the Option, NickelX will earn a 100% interest in the Project by undertaking exploration expenditure of not less than $500,000 over a 24-month period and making milestone payments of $150,000 in NKL shares 12 months from the date of the Terms Sheet and $150,000 in NKL shares 24 months from the date of the Terms Sheet. NickelX has contracted Drone Geoscience Pty Ltd. to undertake a Drone Magnetic survey in the June Quarter and Southern Geoscience Consultants Pty Ltd. to process the data to further map ultra-mafic rocks and identify drill targets. Cosmos South Nickel Project Summary: Cosmos South M36/580 is situated within the highly endowed nickel rich region of the Agnew-Wiluna Greenstone belt. The belt hosts world class nickel deposits of the Leinster Nickel Operations, Mt Keith, Yakabindie, Honeymoon Well and Cosmos. Announcement • Jan 20
NickelX Limited Defines High-Priority Nickel Targets At Cosmos South NickelX Limited reported that it has completed geophysical data re-processing and defined high priority nickel targets at the Cosmos South Nickel project which is located 10km south of the world-class, high-grade Cosmos nickel operations and 20km North of the world class large scale Leinster nickel operations, within the prolific Wiluna Greenstone Belt. Surface EM data re-processing over the Cosmos South Project has successfully defined a large, highly conductive feature (CS1), modelled at less than 100m from surface. The modelled plate from both MLEM and FLEM data is coincident with magnetic lineaments observed from regional aeromagnetic data over the project location. The EM data suggests the conductor may extend south beyond the limits of the MLEM data coverage. Cosmos South M36/580 is situated within the highly nickel-endowed region of the Agnew-Wiluna Greenstone belt. The belt hosts world class nickel deposits of the Leinster nickel operations, Mt Keith, Yakabindie, Honeymoon Well and Cosmos. The majority of M36/580 is covered by alluvium draining into Lake Miranda as are the Prospero, Tapinos and Anomaly 3 nickel deposits at the nearby Cosmos nickel operations, where the nickel mineralised systems are buried under deep transported material within the Lake Miranda drainage system. The southern portion of the NickelX tenure gently rises southwards where the bedrock is covered by residual laterite material, which is developed over and/or shed off from the subcropping-outcropping Archaean rocks to the south. The latter are host to the nearby Taurus, Sir Samuel and Sir Tristram nickel mineralisation, which are highly anomalous in nickel geochemistry that continues up into the southern area of M36/580. Despite being surrounded by major nickel miners, M36/580 has undergone very limited exploration to date. The areas of outcropping-subcropping bedrock to the south and north of M36/580, on the other hand, have undergone considerable exploration resulting in the discovery of nickel mineralisation to the immediate south at the Taurus, Sir Samuel and Sir Tristram prospects. M36/580 is almost entirely covered by transported alluvial deposits and no systematic drilling has been undertaken on the tenure. Despite poor coverage over this area, the available First Vertical Derivative (1VD) aeromagnetic image indicates that the ultramafic sequences that host nickel mineralization surrounding the tenement extend into M36/580. In particular, the magnetic ultramafic rocks appear to strike through the northern portion of the tenement, which contains the CS1 target. A MLEM survey, completed by Vortex Geophysics at M36/580 prospect in April 2017, was primarily designed to identify massive sulphide targets. A total of 68 stations encompassing a total of 6 line kilometres were completed at the M36/580 Prospect. The data quality is excellent throughout the survey. A significant anomalous response was identified at mid- to late delay times. CS1 is interpreted to consist of multiple large conductors of high to very high modelled conductance ranging from 6,000 to 12,000 Siemens. The time constant is estimated to be around 500ms consistent with massive sulphides conductors. The MLEM survey was followed up by a Fixed Loop EM survey. The CS MLEM conductivity anomaly was confirmed by the follow-up FLEM survey, which revealed a large bedrock conductor with a strike length of 565m and depth extent of 850m (Figure 6). The modelled conductance of the FLEM plate is interpreted to be 11,300 Siemens consistent with the upper conductance range as obtained by the MLEM survey. The depth to the top of the conductor is interpreted to be around 80m below surface, approximately 30m deeper than suggested by the MLEM survey results. The conductive source is interpreted to dip steeply (73 degree) to the west. The estimated time constant of 700ms and modelled conductance of 11,300 Siemens are consistent with a massive sulphides source. All prior drilling on the project is shallower than the interpreted 80m depth to the top of the conductivity anomaly. Contingent upon shareholder approval, NickelX plan to conduct a detailed drone airborne magnetic survey over the entire tenement. This survey will help to better delineate the magnetic strata interpreted to represent continuations of the ultramafic komatiite lithologies that host nickel mineralisation to north and south of M36/580. This information will be critical for drill hole planning, targeting the most promising parts of the interpreted conductor/ultramafic package. A maiden drill program consisting of 4 diamond drill holes is expected to commence in the March Quarter 2022. Announcement • Jun 15
NickelX Limited Commences Diamond Drilling at Fire Dragon NickelX Limited reported that is has contracted DDH1 Limited (DDH1) and secured a diamond drill rig for an early July program at the Fire Dragon Nickel-Copper Target within the Biranup Project, located in the world class Albany Fraser Orogen (AFO). The DDH1 contract includes 2 PHASES of drilling for a total of 6,212m of Diamond and Diamond with RC
pre-collars to test for Nickel-Copper sulphides at Fire Dragon and FD1 based on current data, while a wider PHASE 2 program of Diamond and Diamond with RC pre-collars is planned to test for Nickel-Copper sulphides at Fire Dragon, FD1, FD2, FD4 and Silver Dragon and to test for structural Gold at Black Dragon, will be based on completion of modelling from the recent EM surveys and results from PHASE 1. A diamond rig has been secured for an early July program with Safety Management Systems established and a Program of Works (POW) approved. Refurbishing and clearing of tracks (where warranted) and establishments of drill pads and sumps will get underway shortly in preparation for the drill arrival on site
to commence work. As the approved POW sites fall within areas already cleared for heritage by previous explorers, NKL has received advice that no further heritage clearance work is required at this stage of exploration, enabling drilling to commence immediately. The PHASE 1 4 hole 1,212m diamond drilling program will test for massive sulphides at Fire Dragon and the now enhanced FD1 conductors. The PHASE 1 program is supported by an EIS co-funded drilling grant received from the WA Government. The strategy at Fire Dragon is not only to locate thicker and potentially economic extensions of the nickel-copper bearing sulphide zone intersected by historical drilling but also to better understand the style of this mineralisation (i.e., whether magmatic or hydrothermal, or a tectonothermal modification of either). This will have important implications for Nickel exploration throughout the Biranup project and the AFO. Recent Insider Transactions • Jun 13
Insider recently bought AU$391k worth of stock On the 8th of June, Jason Peterson bought around 3m shares on-market at roughly AU$0.16 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$605k more in shares than they have sold in the last 12 months. Announcement • Jun 03
NickelX Limited Announces Data Review Identifies High-Grade Gold At Black Dragon NickelX Limited reported that it has completed an initial review of the gold prospectivity at the Biranup Project where previous and current work has identified Black Dragon as a high priority gold target, and where exploration works have now been prioritised, planned for the September Quarter 2021. The Black Dragon gold target is located ~30km NE of the Tier 1 Tropicana gold operations and ~35km SW of the emerging Hercules gold discovery, within a ~10km X 3km, NE-SW-striking zone of significant surface gold anomalism that is spatially coincident with the Black Dragon shear zone, as well as a >250km-structural feature in gravity data that also passes through Tropicana. The Black Dragon gold target at the Company's Biranup Project is located in the northern Albany-Fraser Orogen (AFO), ca. 30 km NE of the Tier 1 Tropicana gold operations and 35km SW of the emerging Hercules gold discovery, all of which lie along the interpreted Northern AFO Gold Corridor. The AFO, a ca. 1,200 km-long, arcuate, Neoarchean to Mesoproterozoic fold belt that developed along the southern and southeastern margins of the Archean Yilgarn Craton and upon a Yilgarn-like Archean basement, is divided into a number of fault-bound tectonostratigraphic zones, mainly comprising para-and orthogneisses that have been metamorphosed at amphibolite to granulite facies conditions and intruded by late-tectonic granitoid plutons. The Black Dragon prospect is situated along the Black Dragon shear zone, a laterally extensive (>100km-long), NNE-SSW- to NE-SW-striking and ESE-dipping thrust separating the 2,720 to 1,700 Ma Tropicana Zone to the S and the 1,815 to 1,625 Ma Biranup Zone to the N. The Tropicana Zone is represented by the ca. 2,640 Ma Tropicana Gneiss and several intrusive units. The Biranup Zone is mainly comprised of the 1,815 to 1,800 Ma Black Dragon Gneiss and an unnamed metagranitic unit. Black Dragon is marked by an area of subcropping basement surrounded and elsewhere covered by colluvium and wind-blow sand. Gold mineralisation at Black Dragon is associated with quartz veining, hematite breccia, iron-rich sheared basement schist and gneiss and sericite-altered granite with disseminated pyrite. Individual veins are 0.3 to 5.0m-wide and can be traced at surface for 10 to 30m along strike. Multiple mineralised veins have been recorded, dominantly striking ENE-WSW and N-S. Their dips are unknown. The limited historical drilling has thus far failed to explain the surface gold-silver- tellurium anomalism or provide information about the orientation, structural controls on, genesis, or source for the mineralisation. The company has issued a Request For Proposal (RFP) to a number of service providers to conduct a deep seeking induced polarisation (IP) survey at Black Dragon to better identify potential high grade ore shoots at depth where historic gradient array induced polarisation has not adequately tested for chargeability at depth. Additionally, the Company has appointed DDH1 Limited (DDH1) to undertake a reverse circulation and diamond drill program at the Black Dragon target to test the results of the completed IP survey in conjunction with historic surface sampling and drilling results while using more modern sampling and accurate assaying techniques. Announcement • May 26
NickelX Limited Announces EM Surveys Commence At the Fire Dragon Ni-Cu Target NickelX Limited reported that MLEM Surveys have commenced across 4 high priority targets on E39/1828. In addition, the Company has received POW area approvals and appointed DDH1 for a drill program supported by a recently awarded $150,000 EIS grant, at the 100% owned Biranup Project, located in the world class Albany Fraser Orogen, WA. Recent geophysical data re-processing by the Company identified new good quality conductivity anomaly targets including a further 4 high priority AEM targets in the E39/1828 area, which were prioritised for the current close spaced MLEM surveys. The conductive targets FD1 to FD4 satisfy the company's key criteria for the potential discovery of magmatic nickel-copper deposits in the AFO. The MLEM surveys are now underway at targets FD1-4 following efficient mobilisation of Wireline Services Group to site and appropriate safety inductions. The MLEM surveys have been designed to better define 4 high priority targets defined from a SPECTREM AEM survey flown by previous explorers and reprocessed by Southern Geoscience Consultants for the Company. Three 1st order conductivity targets and one 2nd order target will be followed up by MLEM surveys to test the conductivity anomalies and define targets for drill testing. Survey crews are making excellent progress and NKL expects to be in the position to update the market with the MLEM survey results and interpretation in coming weeks. Additionally, the Company has appointed experienced AFO drilling company DDH1 to undertake initial drill programs following the MLEM results and interpretation. The appointment is part of a wider drilling appointment to test targets at Biranup. The initial drill program which is supported by a $150,000 EIS grant from the WA Government, will test targets at Fire Dragon and Silver Dragon defined from reprocessing surface and EM data acquired by previous explorers. In addition, POW area approvals have been granted, covering these targets and the FD1-4 AEM and MLEM target areas, to allow flexibility of drill planning to immediately follow up on all the results of exploration activity upon completion of the MLEM program. Recent Insider Transactions • May 13
Insider recently bought AU$200k worth of stock On the 6th of May, Jason Peterson bought around 2m shares on-market at roughly AU$0.10 per share. 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 • May 08
NickelX Limited (ASX:NKL) completed the acquisition of Biranup Nickel and Gold Project of VRX Silica Limited (ASX:VRX). New Energy Metals Limited entered into a binding term sheet to acquire Biranup Nickel and Gold Project of VRX Silica Limited (ASX:VRX) on June 19, 2020. New Energy Metals Limited entered into a conditional agreement to acquire Biranup Nickel and Gold Project of VRX Silica Limited on July 1, 2020. Under the terms of consideration, New Energy Metals Limited will issue 6.25 million fully paid ordinary shares and cash payment of AUD 0.2 million will be made upon delineation of a JORC compliant inferred resource of no less than 7.5mt at a grade of 2% nickel and 0.5% copper on the land comprising the tenements, AUD 0.2 million at the completion of a feasibility study with respect to the Biranup Project and AUD 0.5 million at the first commercial extraction of any minerals, mineral products, ore or concentrates, in whatever form, from the Biranup Project. New Energy Metals Limited planning an Initial Public Offering and has indicated that it will prioritize applications in the IPO from VRX Silica shareholders. Transaction is subject to due diligence investigations by New Energy Metals Limited, obtaining all necessary board, shareholder, third party and regulatory approvals and conducting the initial public offer by New Energy, including raising necessary capital and receiving ASX conditional approval for listing of its securities on ASX. Transaction is expected to be completed by the end of 2020. As of December 31, 2020, transaction is expected to complete on June 30, 2021.
NickelX Limited (ASX:NKL) completed the acquisition of Biranup Nickel and Gold Project of VRX Silica Limited (ASX:VRX) on May 7, 2021. Announcement • May 07
NickelX Limited (ASX:NKL) entered into an agreement in principle to acquire Ponton Project from Black Dragon Energy (Aus) Pty Ltd for AUD 0.02 million. NickelX Limited (ASX:NKL) entered into an agreement in principle to acquire Ponton Project from Black Dragon Energy (Aus) Pty Ltd for AUD 0.02 million on May 6, 2021. Under the terms, NickelX Limited will pay AUD 0.015 million in cash, issue 0.5 million shares at a price of AUD 0.2 per share and grant to Black Dragon Energy (Aus) Pty Ltd a royalty of 1.5% of the net smelter return on all minerals, mineral products and concentrates produced and sold from the Ponton Project. Black Dragon Energy (Aus) Pty Ltd has agreed to provide the NickelX Limited with full exclusivity over the purchase of the Ponton Project until June 23, 2021 unless further extended by mutual agreement of the parties. The transaction is subject to consummation of due diligence investigation and listing/approval of new shares on stock exchange. The transacton will be settled on that date which is five business days after the satisfaction (or waiver) of the conditions and by no later than the end of the exclusivity period. 
