New Risk • Jun 09
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$13.9m (US$9.81m) 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 35% per year over the past 5 years. Shareholders have been substantially diluted in the past year (44% increase in shares outstanding). Revenue is less than US$1m (AU$81k revenue, or US$57k). Market cap is less than US$10m (AU$13.9m market cap, or US$9.81m). Board Change • Jun 06
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (3 non-independent directors). Non-Executive Director Haidong Chi is the most experienced director on the board, commencing their role in 2022. Independent Non-Executive Chair Peter Francis Ledwidge was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Feb 02
MetalsGrove Mining Limited has completed a Follow-on Equity Offering in the amount of AUD 2.702 million. MetalsGrove Mining Limited has completed a Follow-on Equity Offering in the amount of AUD 2.702 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 26,355,000
Price\Range: AUD 0.06
Discount Per Security: AUD 0.0036
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 18,678,330
Price\Range: AUD 0.06
Transaction Features: Subsequent Direct Listing Announcement • Dec 12
MetalsGrove Mining Limited has filed a Follow-on Equity Offering in the amount of AUD 2.702 million. MetalsGrove Mining Limited has filed a Follow-on Equity Offering in the amount of AUD 2.702 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 26,355,000
Price\Range: AUD 0.06
Discount Per Security: AUD 0.0036
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 18,678,330
Price\Range: AUD 0.06
Transaction Features: Subsequent Direct Listing Announcement • Sep 19
MetalsGrove Mining Limited, Annual General Meeting, Nov 19, 2025 MetalsGrove Mining Limited, Annual General Meeting, Nov 19, 2025. Announcement • Jul 17
An undisclosed buyer completed the acquisition of an unknown minority stake in MetalsGrove Mining Limited (ASX:MGA) from Catalina Resources Ltd (ASX:CTN) for AUD 0.24 million. An undisclosed buyer acquired an unknown minority stake in MetalsGrove Mining Limited (ASX:MGA) from Catalina Resources Ltd (ASX:CTN) for AUD 0.24 million on July 17, 2025. The proceeds from the sale will strengthen Catalina’s cash position and will be used to advance ongoing exploration initiatives.
An undisclosed buyer completed the acquisition of an unknown minority stake in MetalsGrove Mining Limited (ASX:MGA) from Catalina Resources Ltd (ASX:CTN) on July 17, 2025. Announcement • Apr 11
MetalsGrove Mining Limited Announces Resignation of John Reynolds as Alternate Director, Effective 10 April 2025 MetalsGrove Mining Limited announced that Mr. John Reynolds has resigned as Alternate Director to Haidong Chi, effective 10 April 2025. 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$2.5m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.5m free cash flow). Shares are highly illiquid. Revenue has declined by 34% over the past year. Shareholders have been substantially diluted in the past year (100% increase in shares outstanding). Revenue is less than US$1m (AU$50k revenue, or US$34k). Market cap is less than US$10m (AU$10.5m market cap, or US$7.11m). Announcement • Sep 16
MetalsGrove Mining Limited, Annual General Meeting, Nov 12, 2024 MetalsGrove Mining Limited, Annual General Meeting, Nov 12, 2024. Announcement • Sep 05
MetalsGrove Mining Limited Appoints Mr. Luke Huang as Non-Executive Director MetalsGrove Mining Limited announced that Mr. Luke Huang has been appointed as a Non-Executive Director of the company, effective 4 September 2024. Luke Huang is an accomplished Investment Director with extensive experience in Australia's resource operation and investment industry. Mr. Huang has a solid background in economics and finance, demonstrated by his leadership as the Managing Director at Au Xingao Investment, where he successfully resolved high- stakes litigation and secured significant assets for his company. Mr. Huang holds a Chartered Financial Analyst qualification and is proficient in financial analysis, portfolio management, and risk measurement. His career is marked by his ability to build and manage efficient teams, his strategic oversight of resource portfolios, and his fluency in both English and Chinese, enabling effective communication in diverse business environments. Board Change • May 13
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. 4 non-independent directors. Independent Non-Executive Chairman Richard Beazley 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 • May 01
MetalsGrove Mining Limited has filed a Follow-on Equity Offering in the amount of AUD 2.1084 million. MetalsGrove Mining Limited has filed a Follow-on Equity Offering in the amount of AUD 2.1084 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 52,710,000
Price\Range: AUD 0.04
Transaction Features: Rights Offering Board Change • Mar 25
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 Richard Beazley 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. Board Change • Feb 23
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 Richard Beazley 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. Board Change • Feb 01
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 Richard Beazley 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. Board Change • Dec 11
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 Richard Beazley 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. Board Change • Oct 03
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 Richard Beazley 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 • Sep 29
MetalsGrove Mining Limited, Annual General Meeting, Nov 28, 2023 MetalsGrove Mining Limited, Annual General Meeting, Nov 28, 2023. Agenda: To consider re-election and appointment of directors. Board Change • Aug 03
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 Richard Beazley 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. Board Change • Jul 17
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 Richard Beazley 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. Board Change • May 15
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 Richard Beazley 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. Board Change • Apr 13
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 Richard Beazley 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. Board Change • Mar 01
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 Richard Beazley 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 • Jan 24
MetalsGrove Mining Limited Receives Results from Heritage Survey at the Arunta Project, Located 110Km North of Alice Springs MetalsGrove Mining Limited announced that it has received the results from a recently completed Heritage Survey (Survey) at the Arunta Project, located110km north of Alice Springs. The Survey was undertaken by members of the Aboriginal Areas Protection Authority (AAPA) and covered the area comprising the Bruce (EL31225), Box Hole (EL32419) and Edwards Creek (EL32420) tenements. At the Bruce Prospect, a program of approximately 3,000 meters RC drilling is proposed to test the bedrock conductor at Whistleduck, Plenty River and Whitehorse historical pegmatite mines in three different stages. At the Box Hole and Edwards Creek another 3,000 meters RC drilling is proposed to test the known exploration drilling targets. The Arunta Project ~300 km by road from Alice Springs and 13 km north of the Plenty Highway. Bruce Prospect (EL 31225): The Bruce Prospect is located within the Central Desert Region of the Northern Territory and covers an area of approximately 17,722 ha and the maximum distance across the project is about 25 km eastwest and 10 km northsouth. The nearest historical mine is the inactive Harts Range garnet mine (approximately 80 km to the west-southwest) while the Molyhil tungsten- molybdenum project (Thor Mining PLC) is approximately 10 km to the northeast. Edwards Creek Prospect (EL 32420): The Edwards Creek polymetallic (copper-lead-zinc-gold) prospect comprises a single granted mineral exploration licence (EL32420), located approximately85 km north-northeast of Alice Springs, NT. The tenement covers an area of approximately 7,568 ha. Box Hole Prospect (EL32419): The Box Hole zinc-lead, REE prospect comprises a single granted mineral exploration licence (EL32419), located approximated 340 km northeast of AliceSprings, NT. The tenement covers an area of approximately 12,765 ha. Board Change • Jan 14
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 Richard Beazley 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.