Board Change • May 01
No independent directors There are 4 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: 4 new directors. No experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). MD & Director Simon Rushton is the most experienced director on the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Board Change • Dec 31
No independent directors There are 4 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: 4 new directors. 1 experienced director. No highly experienced directors. No independent directors (5 non-independent directors). MD & Director Simon Rushton is the most experienced director on the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Announcement • Oct 08
Macro Metals Limited, Annual General Meeting, Nov 27, 2025 Macro Metals Limited, Annual General Meeting, Nov 27, 2025. Location: frasers kings park, 60 fraser avenue, perth western australia Australia Board Change • Aug 18
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). Technical Director & Non-Executive Director Robert Jewson is the most experienced director on the board, commencing their role in 2024. 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 • Aug 05
Macro Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 2 million. Macro Metals 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: 241,282,857
Price\Range: AUD 0.007
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 44,431,428
Price\Range: AUD 0.007
Transaction Features: Subsequent Direct Listing Board Change • Feb 04
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). Technical Director & Non-Executive Director Robert Jewson is the most experienced director on the board, commencing their role in 2024. 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. New Risk • Jan 11
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 51% 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 (28% average weekly change). Earnings have declined by 23% per year over the past 5 years. Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$56.1m market cap, or US$34.5m). Board Change • Dec 24
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). Technical Director & Non-Executive Director Robert Jewson is the most experienced director on the board, commencing their role in 2024. 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 • Dec 02
Macro Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 4.025674 million. Macro Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 4.025674 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 402,567,436
Price\Range: AUD 0.01
Transaction Features: Subsequent Direct Listing Announcement • Nov 25
Macro Metals Limited (ASX:M4M) agreed to acquire 80% stake in Tenements of WA Limestone Pty Ltd. Macro Metals Limited (ASX:M4M) agreed to acquire 80% stake in Tenements of WA Limestone Pty Ltd on November 25, 2024.
The expected completion of the transaction is on or before December 15, 2024. Announcement • Oct 08
Macro Metals Limited, Annual General Meeting, Nov 26, 2024 Macro Metals Limited, Annual General Meeting, Nov 26, 2024. New Risk • Sep 28
New major risk - Revenue and earnings growth Earnings have declined by 23% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 23% per year over the past 5 years. Shareholders have been substantially diluted in the past year (82% increase in shares outstanding). Revenue is less than US$1m (AU$18k revenue, or US$12k). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (AU$83.4m market cap, or US$57.6m). Recent Insider Transactions • Mar 20
Non-Executive Director recently bought AU$324k worth of stock On the 19th of March, Tolga Kumova bought around 65m shares on-market at roughly AU$0.005 per share. This transaction amounted to 31% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$442k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Mar 13
Insider recently bought AU$70k worth of stock On the 6th of March, Tolga Kumova bought around 16m shares on-market at roughly AU$0.0045 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$118k more in shares than they have sold in the last 12 months. Announcement • Feb 12
Macro Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 3.3 million. Macro Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 3.3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 480,000,000
Price\Range: AUD 0.004
Discount Per Security: AUD 0.00024
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 345,000,000
Price\Range: AUD 0.004
Discount Per Security: AUD 0.00024
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Jan 16
Macro Metals Limited Announces That Heritage Survey Clearances Have Been Received for the Priority Drill Targets At the Mogul Vms Project in the Pilbara Region of Western Australia Macro Metals Limited announced that heritage survey clearances have been received for the priority drill targets at the Mogul VMS Project in the Pilbara region of Western Australia. The Mogul VMS Project is a Cu-Pb-Zn-Ag-Au project 60km east of Nullagine in Western Australia on tenement E46/1399. The project was acquired by Macro Metals in 2022 and hosts a cluster of gossans including the Mogul and CEC gossan which were discovered in the 1970's and return highly anomalous Copper results of up to 36% Cu and 11% Zn (WAMEX a6531). Diamond drilling undertaken by Carpentaria Exploration in 1975 return 3.65m @ 3.9 % Cu and 3.12 % Zn from 12.75 -16.4 m and 0.4m @ 4.35 % Cu and 9.45 % Zn from 12 -16m (WAMEX a6531). A subsequent 8-hole RC drill program by Peninsular Gold beneath the CEC gossan in 1997 returned best copper results of 4m @ 3.11 % Cu and 1.47 % Zn from 12 -16m and best Zinc results of 4m @ 9.52 % Zn from 40-44m (WAMEX a50290). The prospect geology consists of steeply dipping anticlinal belt of Archean greenstones, metasediments and volcanics, surrounded by younger Archean greywackes, shales, conglomerates, and tuffs. The project is cut by a regional North-South faults with multiple gossans being mapped along the Western strike of the fault. The occurrence of multiple gossans being mapped along the strike of the regional North-South fault also points to the potential for multiple clusters of mineralisation, as seen at prominent VMS deposits such as Golden Grove. Upon acquisition of the project, Macro commissioned an I.P. survey which highlighted two priority exploration targets, with one anomaly down dip from the previously announced high-grade surface mineralisation and drilling. Encouragingly, this historic drilling did not reach the deeper basement responses which the company intends to test using the $180,000 of EIS co-funding, in addition to testing a second, larger I.P. response associated with a resistive zone, lying west of the previously defined Mogul mineralisation. New Risk • Nov 21
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 51% 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 (39% average weekly change). Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$9.87m market cap, or US$6.48m). Announcement • Nov 21
Macro Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 3.35 million. Macro Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 3.35 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 480,000,000
Price\Range: AUD 0.004
Discount Per Security: AUD 0.00024
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 357,500,000
Price\Range: AUD 0.004
Discount Per Security: AUD 0.00024
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Nov 15
Macro Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 3.35 million. Macro Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 3.35 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 480,000,000
Price\Range: AUD 0.004
Discount Per Security: AUD 0.00024
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 357,500,000
Price\Range: AUD 0.004
Discount Per Security: AUD 0.00024
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Sep 28
Macro Metals Limited, Annual General Meeting, Nov 17, 2023 Macro Metals Limited, Annual General Meeting, Nov 17, 2023. New Risk • Sep 25
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. 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 Less than 1 year of cash runway based on free cash flow trend (-AU$2.3m free cash flow). Shares are highly illiquid. Earnings have declined by 1.3% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$5.96m market cap, or US$3.84m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (23% increase in shares outstanding). New Risk • Sep 10
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. 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 Less than 1 year of cash runway based on free cash flow trend (-AU$2.3m free cash flow). Shares are highly illiquid. Earnings have declined by 1.3% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$6.96m market cap, or US$4.44m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (23% increase in shares outstanding). Board Change • May 19
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. 2 non-independent directors. Independent Non-Executive Chairman Peter Huljich 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. Recent Insider Transactions • Dec 07
Insider recently sold AU$51k worth of stock On the 2nd of December, Peter Gianni sold around 6m shares on-market at roughly AU$0.0082 per share. This transaction amounted to 8.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of AU$6.6k more than they bought in the last 12 months. Board Change • Nov 18
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. 2 non-independent directors. Independent Non-Executive Chairman Peter Huljich 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. Reported Earnings • Oct 01
Full year 2022 earnings released: AU$0.003 loss per share (vs AU$0.003 loss in FY 2021) Full year 2022 results: AU$0.003 loss per share (in line with FY 2021). Net loss: AU$3.15m (loss widened 15% from FY 2021). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 57% per year, which means it is significantly lagging earnings. Board Change • Apr 28
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). Independent Non-Executive Director Peter Huljich is the most experienced director on the board, commencing their role in 2019. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Mar 18
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: AU$0.002 loss per share (vs AU$0.002 loss in 1H 2021). Net loss: AU$1.54m (loss widened 25% from 1H 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 50% per year, which means it is significantly lagging earnings. 
