Announcement • Jul 19
Group 6 Metals Limited, Annual General Meeting, Aug 20, 2025 Group 6 Metals Limited, Annual General Meeting, Aug 20, 2025. Announcement • Jul 03
Group 6 Metals Limited Auditor Raises 'Going Concern' Doubt Group 6 Metals Limited filed its Annual on Jul 01, 2025 for the period ending Jun 30, 2024. In this report its auditor, KPMG LLP - Klynveld Peat Marwick Goerdeler, gave an unqualified opinion expressing doubt that the company can continue as a going concern. Announcement • Dec 19
Group 6 Metals Limited Announces Company Secretary Changes Group 6 Metals Limited announced that Andrew Bickley has been appointed as Company Secretary, effective immediately. Mr. Bickley has more than 15 years of experience as a company secretary and governance professional for Australian and global organisations, having worked for listed companies, professional services firms and statutory agencies. He holds a Bachelor of Laws from the University of Essex and is a Fellow of both the Governance Institute of Australia and the Institute of Chartered Secretaries and Administrators. Mr. Bickley is also joint Company Secretary of Andean Silver Limited. Ms. Megan McPherson has notified the Board of her resignation as Company Secretary. Announcement • Nov 01
Group 6 Metals Limited, Annual General Meeting, Nov 29, 2024 Group 6 Metals Limited, Annual General Meeting, Nov 29, 2024. Location: at the company`s brisbane office, suite 7c, level 7, 157, ann street brisbane qld 4000, Australia New Risk • Oct 01
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: Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Share price has been volatile over the past 3 months (15% average weekly change). Revenue is less than US$5m (AU$3.9m revenue, or US$2.7m). Market cap is less than US$100m (AU$25.1m market cap, or US$17.4m). Buy Or Sell Opportunity • Aug 26
Now 24% overvalued Over the last 90 days, the stock has fallen 14% to AU$0.03. The fair value is estimated to be AU$0.024, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 162% over the last 3 years. Earnings per share has declined by 23%. Buy Or Sell Opportunity • Jul 22
Now 25% overvalued Over the last 90 days, the stock has fallen 40% to AU$0.032. The fair value is estimated to be AU$0.026, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 162% over the last 3 years. Earnings per share has declined by 23%. New Risk • May 20
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 Risk Less than 1 year of cash runway based on free cash flow trend (-AU$61m free cash flow). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (29% increase in shares outstanding). Revenue is less than US$5m (AU$3.9m revenue, or US$2.6m). Market cap is less than US$100m (AU$40.2m market cap, or US$26.9m). New Risk • Oct 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 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$74m free cash flow). Earnings have declined by 51% per year over the past 5 years. Shareholders have been substantially diluted in the past year (59% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (AU$95.3m market cap, or US$60.5m). Announcement • Sep 29
Group 6 Metals Limited, Annual General Meeting, Nov 16, 2023 Group 6 Metals Limited, Annual General Meeting, Nov 16, 2023. Announcement • Aug 04
Group 6 Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 4.311705 million. Group 6 Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 4.311705 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 21,428,571
Price\Range: AUD 0.14
Discount Per Security: AUD 0.0084
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 5,154,382
Price\Range: AUD 0.14
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 3,500,000
Price\Range: AUD 0.14
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 714,940
Price\Range: AUD 0.14 New Risk • Jun 29
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 54% 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$67m free cash flow). Earnings have declined by 50% 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. Minor Risk Market cap is less than US$100m (AU$116.7m market cap, or US$77.4m). Announcement • May 12
Group 6 Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 21.974999 million. Group 6 Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 21.974999 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 156,964,280
Price\Range: AUD 0.14
Discount Per Security: AUD 0.0084
Transaction Features: Reserved Share Offering; Subsequent Direct Listing Announcement • Feb 20
Group 6 Metals Limited Appoints Michael Zannes as CFO, Effective 6 March 2023 Group 6 Metals Limited announced that Michael Zannes will be joining the Company in a full-time capacity as Chief Financial Officer, effective 6 March 2023. Michael is a Certified Public Accountant, with more than 20 years' experience in the mining industry. He has developed an extensive background and knowledge through managing operational and corporate finance functions within resource companies, both in Australia and internationally. Thisincludes C-suite experience in the areas of financial reporting and analysis, tax, treasury, systems design and implementation, purchasing and logistics and business improvement. Michael previously held the role of Chief Financial Officer with Andromeda Metals Ltd. having been with Andromeda since June 2020 and was a key member of Andromeda's Executive Committee during this time. He also previously held various commercial roles with New Gold Inc., an international mining organisation listed on the Toronto and New York stock exchanges, which included Company Director and Secretary for New Gold's Australian divisions. He also held the role of General Manager of Australian operations for Peak Gold Mines based in Cobar, NSW, which was sold by New Gold Inc. to Aurelia Metals Limited in 2018. Michael spent almost 5 years from 2009 working with Whitehaven Coal Ltd. as Divisional Commercial Manager, where he established the commercial and financial functions for Whitehaven open-cut operations and which included greenfield development sites. In addition, he previously worked with Xstrata Copper in business development establishing finance and commercial functions for the project development division. With the creation of this sole CFO role, Megan McPherson will continue with Group 6 Metals as Company Secretary with her focus now directed towards the area of corporate governance and shareholder relations, functions which demand closer attention as Group 6 Metals nears production at its wholly-owned Dolphin Tungsten Mine, located on King Island, Tasmania. Announcement • Jan 17
Group 6 Metals Limited Provides Dolphin Tungsten Mine Update Group 6 Metals Limited provided an update regarding construction activities at the Company's wholly owned Dolphin Tungsten Mine, located on King Island, Tasmania. Construction of the processing plant for the DTM continues to progress well against schedule for completion, commissioning and first production of concentrates in early 2023. The Company has been advised by its lead engineering, procurement, and construction (EPC) contractor, Gekko Systems Pty Ltd, of constraints that have caused higher than expected costs in execution of the EPC contract. These constraints relate to project-specific and market conditions impacting logistics, materials and installation costs, including inflation, shipping and transport, foreign currency exchange rates and labour constraints. The Company has been advised by its lead engineering, procurement, and construction (EPC) contractor, Gekko Systems Pty Ltd, of constraints that have caused higher than expected costs in execution of the EPC contract. These constraints relate to project-specific and market conditions impacting logistics, materials and installation costs, including inflation, shipping and transport, foreign currency exchange rates and labour constraints. In the meantime, Group 6 Metals and Gekko are taking joint action to mitigate these anticipated cost increases while optimising the safety, schedule and successful re-development of the DTM. The parties are also in discussions regarding options to limit the impact of these anticipated cost increases on the Company's cashflow while the plant is being commissioned and ramping up to nameplate production. While these newly anticipated construction costs are unfortunate, in today's high inflationary environment for construction projects they are difficult to mitigate against. The Company remains committed to the successful completion and commissioning of the Dolphin Tungsten Mine which has an initial 14-year mine life underpinned by Reserves, with significant regional exploration upside which the Company will restart drilling on next week. In light of the above, the Company has elected to extend the closing date for the SPP until the 1st February 2023 which will afford shareholders who have made an application for shares under the SPP time to amend or withdraw their application. A supplementary prospectus for the SPP will also be released by the Company in the coming days. Announcement • Jan 04
Group 6 Metals Limited Provides an Update on the Regional Exploration Activities Surrounding the Company's Wholly Owned Dolphin Tungsten Mine, Located on King Island, Tasmania Group 6 Metals Limited provided an update on the regional exploration activities surrounding the Company's wholly owned Dolphin Tungsten Mine ("DTM"), located on King Island, Tasmania. Group 6 Metals has mobilised an exploration drill rig to King Island to conduct a drill program comprising 3 diamond core holes to test the western margin of the Grassy Granite, south of the Investigator 21 Prospect and 1 drillhole as a step-out to the north of the Investigator 21 project. Drilling is to commence in mid-January. The planned program comprises up to 1,000m of diamond core drilling. It is estimated that the program will take approximately 6 weeks to complete. Assay results are expected to take a further six weeks following completion of drilling. The primary objective of the drilling is to intersect the Upper Grassy Group formation which hosts the tungsten resources at Dolphin and Bold Head. An additional drillhole is targeting an extension of previously encountered mineralisation as a northerly extension of the Investigator 21 project. The Company drilled Investigator 21 Prospect in the first half of 2018 and successfully defined scheelite bearing skarn mineralisation in three of four holes completed with the following high grade intersections; KI060 103.2 106.3 3.0m @ 0.5% WO3; 181.5 184.4 2.6m @ 0.5% WO3. KI062 90.4 93.0 3.0m @ 0.4% WO3; 103.2 106.5 3.3m @ 1.7% WO3. The Investigator 21 Prospect is located 6km west of the DTM and has similar geology to both it and the Bold Head Resource. It is one of several priority target areas identified by the Company on its 100% owned Exploration Licence EL 19/2001 which covers approximately 63km2. The previously identified high-grade mineralisation highlights the prospectivity of the tenement, with one hole intersecting 3.3m at 1.7% WO3. The intersection is geologically significant as it confirms the high-grade tenor of mineralisation at three separate locations on the periphery of the Grassy Granodiorite (DTM, Bold Head and Investigator) which upgrades the overall exploration potential of this large, mineralised intrusion. Based on regional geological mapping the metamorphic aureole for scheelite skarn mineralization has a strike distance of at least 9km with limited exploration drilling having been undertaken to date. Pending the success of this and future drilling campaigns, the company would seek to delineate an economic reserve which would extend the life of mine well beyond the currently 14 years. 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 Director Greg Hancock was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
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. 1 experienced director. 2 highly experienced directors. 1 independent director (2 non-independent directors). Independent Non-Executive Director Greg Hancock was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Recent Insider Transactions • Feb 13
Insider recently sold AU$321k worth of stock On the 8th of February, Catherine Morritt sold around 1m shares on-market at roughly AU$0.26 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Is New 90 Day High Low • Feb 04
New 90-day high: AU$0.24 The company is up 133% from its price of AU$0.10 on 06 November 2020. The Australian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 21% over the same period. 