Board Change • May 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. Non-Executive Independent Director Brett Grosvenor was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Jan 12
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 9.5% per year over the past 5 years. Revenue is less than US$1m (AU$12k revenue, or US$7.7k). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (27% increase in shares outstanding). Market cap is less than US$100m (AU$46.2m market cap, or US$31.0m). Board Change • Dec 24
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. Non-Executive Independent Director Brett Grosvenor was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 08
Firebird Metals Limited, Annual General Meeting, Nov 26, 2025 Firebird Metals Limited, Annual General Meeting, Nov 26, 2025. Announcement • Sep 30
Firebird Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 6 million. Firebird Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 6 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 21,333,333
Price\Range: AUD 0.15
Discount Per Security: AUD 0.009
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 14,766,667
Price\Range: AUD 0.15
Discount Per Security: AUD 0.009
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 3,900,000
Price\Range: AUD 0.15
Discount Per Security: AUD 0.009
Transaction Features: Subsequent Direct Listing Board Change • Aug 18
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Non-Executive Director Brett Grosvenor was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. New Risk • Oct 28
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.9m (US$9.88m) 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 Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 15% per year over the past 5 years. Shareholders have been substantially diluted in the past year (54% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$14.9m market cap, or US$9.88m). Announcement • Oct 08
Firebird Metals Limited, Annual General Meeting, Nov 26, 2024 Firebird Metals Limited, Annual General Meeting, Nov 26, 2024. New Risk • Sep 28
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$3.9m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.9m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 15% per year over the past 5 years. Shareholders have been substantially diluted in the past year (95% increase in shares outstanding). Revenue is less than US$1m (AU$458k revenue, or US$316k). Minor Risk Market cap is less than US$100m (AU$17.8m market cap, or US$12.3m). New Risk • Sep 25
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 3.6% per year over the past 5 years. Shareholders have been substantially diluted in the past year (95% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$19.9m market cap, or US$13.7m). New Risk • Aug 14
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.2m (US$9.43m) 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 Earnings have declined by 3.6% per year over the past 5 years. Shareholders have been substantially diluted in the past year (95% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$14.2m market cap, or US$9.43m). Minor Risk Share price has been volatile over the past 3 months (16% average weekly change). New Risk • Aug 06
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 3.6% per year over the past 5 years. Shareholders have been substantially diluted in the past year (95% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$15.7m market cap, or US$10.2m). Announcement • Jun 13
Firebird Metals Limited Announces Change of Company Secretary Firebird Metals Limited announced that Ms Oonagh Malone has been appointed Company Secretary with effect from June 10, 2024. Ms Malone has over 15 years' experience working with ASX-listed resources companies as a company secretary and non-executive director. Ms Malone will be the person responsible for communications with the ASX in relation to Listing Rule matters under Listing Rule 12.6. As part of this change, Mr. Alex Neuling has stepped down from his role as Company Secretary. The Board thanks Mr. Neuling for his contributions to the Company since its listing on the ASX and wishes him well for his future endeavours. New Risk • Mar 16
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$2.0m 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$2.0m free cash flow). Earnings have declined by 3.6% per year over the past 5 years. Shareholders have been substantially diluted in the past year (95% increase in shares outstanding). Revenue is less than US$1m (AU$364k revenue, or US$239k). Minor Risk Market cap is less than US$100m (AU$17.1m market cap, or US$11.2m). New Risk • Jan 23
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.2m (US$9.35m) 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 Earnings have declined by 2.6% per year over the past 5 years. Shareholders have been substantially diluted in the past year (98% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$14.2m market cap, or US$9.35m). Announcement • Dec 28
Firebird Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 8 million. Firebird Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 8 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 18,040,000
Price\Range: AUD 0.125
Discount Per Security: AUD 0.0075
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 42,760,000
Price\Range: AUD 0.125
Discount Per Security: AUD 0.0075
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 3,200,000
Price\Range: AUD 0.125
Discount Per Security: AUD 0.0075
Transaction Features: Subsequent Direct Listing New Risk • Dec 09
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 93% 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$2.3m free cash flow). Earnings have declined by 2.6% per year over the past 5 years. Shareholders have been substantially diluted in the past year (93% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$21.6m market cap, or US$14.2m). Announcement • Oct 14
Firebird Metals Limited, Annual General Meeting, Nov 29, 2023 Firebird Metals Limited, Annual General Meeting, Nov 29, 2023. Board Change • Oct 06
No independent directors There are 5 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: 5 new directors. No experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). CFO, Finance Director & Executive Director Wei Li 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 board continuity. Lack of experienced directors. Announcement • Sep 18
Reach Resources Limited (ASX:RR1) entered into a binding tenement sale agreement to acquire Ashburton prospect (Tenement E09/2543) from Firebird Metals Limited (ASX:FRB) for AUD 0.11 million. Reach Resources Limited (ASX:RR1) entered into a binding tenement sale agreement to acquire Ashburton prospect (Tenement E09/2543) from Firebird Metals Limited (ASX:FRB) for AUD 0.11 million on September 15, 2023. The consideration is payable via the issue of ordinary shares in Reach Resources. The transaction is expected to complete 5 days after the date the tenement sale agreement was signed. Board Change • Jun 27
No independent directors There are 5 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: 5 new directors. No experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). CFO, Finance Director & Executive Director Wei Li 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 board continuity. Lack of experienced directors. Announcement • Jan 31
Firebird Metals Limited Provides an Update on East of Newman in the Eastern Pilbara Region of Western Australia Firebird Metals Limited announced excellent results from a high-purity manganese sulphate monohydrate (HPMSM) test work program, completed on manganese ore from the Company's Oakover Project, located 85km East of Newman in the Eastern Pilbara region of Western Australia. The Company's maiden HPMSM metallurgical flowsheet development program has delivered impressive results from hydrometallurgical test work and importantly, confirmed that Oakover manganese ore can be processed into battery grade HPMSM for the burgeoning battery industry. Leaching test work feed material was generated from diamond drill core from all Oakover manganese ore domains of the Sixty Sixer, Jay-Eye and Karen deposits. Multiple scouting leaching tests were completed on Oakover Mn feed, which had been crushed, screened and scrubbed, but not beneficiated further (ore sorted/DMS) and then ground to below 0.5 mm prior to leaching. The most recent scoping test program utilised combined selected pregnant leach solutions (PLS) obtained from the earlier leaching test work on Oakover ore. The PLS was subjected to a sequence of typical impurity removal steps, followed by crystallisation of crude manganese sulphate. The crude manganese sulphate was then redissolved and recrystallised and washed to produce HPMSM crystals. High precision trace element analyses for typical impurity elements was conducted to determine impurity levels in the crystals and estimate the overall purity of >99.8% manganese sulphate monohydrate by difference. Levels of individual impurity elements listed in the Manganese Sulphate for Battery Materials Specification (HG/T 4823-2015) were all within specified limits. Importantly, hydrometallurgical test work success is the first major step required for developing a process for production of HPMSM for the Battery Industry. Firebird will now prioritise ongoing process flowsheet development and optimisation studies to further enhance process design and product quality, along with completion of a high-purity manganese sulphate scoping study. The importance of manganese within the lithium-ion battery sector for use in electric vehicles continues to grow. Manganese is an important element within the battery cathode industry and in particular, plays a critical role in NMC (Nickel, Manganese, Cobalt) batteries. It is estimated around 90kg of Manganese is used per average electric car (CPM Group). Electric vehicle and battery cathode manufacturers have expressed a desire to increase manganese content to improve battery and electric vehicle cost competitiveness, while maintaining energy density. The growing electrical vehicle market and battery cathode changes will lead to greater demand and growth for HPSMM. Board Change • Jan 09
No independent directors There are 5 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: 5 new directors. No experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). CFO, Finance Director & Executive Director Wei Li 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 board continuity. Lack of experienced directors. Board Change • Nov 16
No independent directors There are 5 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: 5 new directors. No experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). CFO, Finance Director & Executive Director Wei Li 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 board continuity. Lack of experienced directors. Board Change • Apr 28
No independent directors There are 5 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: 5 new directors. No experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). CFO, Finance Director & Executive Director Wei Li 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 board continuity. Lack of experienced directors. Recent Insider Transactions • Mar 26
Insider recently bought AU$235k worth of stock On the 23rd of March, Tolga Kumova bought around 605k shares on-market at roughly AU$0.39 per share. In the last 3 months, they made an even bigger purchase worth AU$986k. Insiders have collectively bought AU$1.2m more in shares than they have sold in the last 12 months.