Board Change • May 20
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). Non-Executive Chair Russell Curtin is the most experienced director on the board, commencing their role in 2025. 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 • May 01
Less than half of directors are independent There are 3 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: 3 new directors. No experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Non-Executive Director Russell Curtin is the most experienced director on the board, commencing their role in 2025. Independent Non-Executive Director Sam Brooks 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 • Apr 29
Oceana Metals Limited (ASX:OCN) agreed to acquire Songeo Mineração S/A from JBS Administração Assessoria e Empreendimentos S/A., Songeo Sondagens e Geologia Ltda., TSS Administração e Participações Ltda. and others for $10.3 million. Oceana Metals Limited (ASX:OCN) agreed to acquire Songeo Mineração S/A from JBS Administração Assessoria e Empreendimentos S/A., Songeo Sondagens e Geologia Ltda., TSS Administração e Participações Ltda. and others for $10.3 million on April 28, 2026. A cash consideration of $2.95 million will be paid by Oceana Metals Limited. The consideration consists of 20 million common equity of Oceana Metals Limited to be issued for common equity of Songeo Mineração S/A. Oceana Metals Limited will pay an earnout/contingent payment of $2.25 million cash. As part of consideration, $5.2 million is paid towards common equity of Songeo Mineração S/A.
The transaction is subject to approval of offer by acquirer shareholders, approval by regulatory board / committee and consummation of due diligence investigation.
Experienced REE geologist and mining executive Hamish Halliday has joined the Board as a Non Executive Director, Russell Curtin has been appointed as Non-Executive Chair and Directors Martin
Helean and Sam Brooks have resigned. Brazilian corporate lawyer and mining executive Rodrigo Roso will also join the Board as a non-executive director on completion of the Acquisition. Alexandra Hughes has joined Maddison Cramer as Joint Company Secretary, effective immediately. Announcement • Apr 28
Oceana Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 20 million. Oceana Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 20 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 20,450,591
Price\Range: AUD 0.36
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 33,577,186
Price\Range: AUD 0.36
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,527,778
Price\Range: AUD 0.36
Transaction Features: Subsequent Direct Listing Board Change • Dec 24
Less than half of directors are independent There are 3 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: 3 new directors. No experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Non-Executive Chairman Martin Helean is the most experienced director on the board, commencing their role in 2025. Independent Non-Executive Director Sam Brooks 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 • Oct 10
Oceana Lithium Limited, Annual General Meeting, Nov 13, 2025 Oceana Lithium Limited, Annual General Meeting, Nov 13, 2025. Location: level 2, 8 richardson street, wa 6005, west perth Australia Board Change • Aug 18
No independent directors There are 3 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: 3 new directors. No experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Aidan Platel 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 • Aug 16
Oceana Lithium Limited has completed a Follow-on Equity Offering in the amount of AUD 0.667 million. Oceana Lithium Limited has completed a Follow-on Equity Offering in the amount of AUD 0.667 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 469,565
Price\Range: AUD 0.023
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 28,530,435
Price\Range: AUD 0.023
Discount Per Security: AUD 0.00138
Transaction Features: Subsequent Direct Listing Announcement • May 21
Oceana Lithium Limited has filed a Follow-on Equity Offering in the amount of AUD 0.6778 million. Oceana Lithium Limited has filed a Follow-on Equity Offering in the amount of AUD 0.6778 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 469,565
Price\Range: AUD 0.023
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 29,000,000
Price\Range: AUD 0.023
Discount Per Security: AUD 0.00138
Transaction Features: Subsequent Direct Listing Board Change • Dec 24
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 Qingtao Zeng 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 13
Oceana Lithium Limited has filed a Follow-on Equity Offering in the amount of AUD 1.209971 million. Oceana Lithium Limited has filed a Follow-on Equity Offering in the amount of AUD 1.209971 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 54,998,667
Price\Range: AUD 0.022
Discount Per Security: AUD 0.00132
Transaction Features: Rights Offering 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: Major Risks Shares are highly illiquid. Revenue is less than US$1m (AU$4.7k revenue, or US$3.3k). Market cap is less than US$10m (AU$2.56m market cap, or US$1.77m). Minor Risk Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Announcement • Sep 18
Oceana Lithium Limited, Annual General Meeting, Nov 21, 2024 Oceana Lithium Limited, Annual General Meeting, Nov 21, 2024. Board Change • Sep 10
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, 1 was an independent director. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. 1 independent director (3 non-independent directors). Independent Non-Executive Chairman Qingtao Zeng is the most experienced director on the board, commencing their role in 2022. 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 experienced directors. Announcement • Jul 31
Oceana Lithium Limited Announces Resignation of Caue Araujo as Chief Executive Officer, Effective 10 September 2024 Oceana Lithium Limited announced that Mr. Caue Araujo has tendered his resignation as Chief Executive Officer of the Company to pursue other opportunities. Mr. Araujo will remain in his role until 10 September 2024 and will continue to assist the Company with its ongoing operations during this period. Mr. Araujo's duties will be assumed, in the near term, by the Company's Chairman, Dr. Qingtao Zeng, the rest of the technical team, and the Board of directors. Board Change • Apr 05
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 Qingtao Zeng was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Feb 14
Oceana Lithium Announces Changes to Board Oceana Lithium announced that Non-Executive Chairman Jerome Vitale and Non-Executive Director Simon Mottram have resigned as directors with immediate effect to focus on their other business commitments. The Board has appointed Oceana's company secretary, Mr. Daniel Smith, as a Non-Executive Director, as well as Mr. Chen Chik (Nicholas) Ong. With Mr. Vitale's departure, Mr. Zeng will assume the role of Non-Executive Chairman.Mr Ong brings 19 years' experience in IPO, listing rules compliance and corporate governance. He is experienced in mining project finance, mining and milling contract negotiations, mine CAPEX & OPEX management, and toll treatment gold reconciliation. Nicholas is a Fellow of the Governance Institute of Australia and holds a Bachelor of Commerce and a Master of Business Administration from the University of Western Australia. Nicholasis currently a director and/or company secretary of several ASX listed companies. The Board thanks both Mr. Vitale and Mr. Mottram for their contribution and valuable insights since the Company's IPO in July 2022 and wishes them well for the future. As announced 6 February 2024, the Company has identified a number of highpriority drill targets at the Company's 100% owned, Solonópole lithium project in Brazil. In response to current market conditions for junior exploration companies, the Board will evaluate a number of potential cost-cutting measures, including the reduction of corporate overheads, to maximise exploration expenditure atSolonópole. The Company ended the December 2023 quarter with approximately $3.3 million in cash and no debt. New Risk • Oct 06
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$13.0m (US$8.31m) 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 Less than 1 year of cash runway based on free cash flow trend (-AU$3.0m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (AU$13.0m market cap, or US$8.31m). Minor Risks Less than 3 years of financial data is available. Shareholders have been diluted in the past year (27% increase in shares outstanding). New Risk • Oct 05
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$3.0m 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$3.0m free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Revenue is less than US$1m. Minor Risks Less than 3 years of financial data is available. Shareholders have been diluted in the past year (27% increase in shares outstanding). Market cap is less than US$100m (AU$17.9m market cap, or US$11.3m). New Risk • Sep 30
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -AU$3.0m This is considered a minor 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 Risk Revenue is less than US$1m (AU$37k revenue, or US$24k). Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$3.0m). Less than 3 years of financial data is available. Share price has been volatile over the past 3 months (16% average weekly change). Shareholders have been diluted in the past year (27% increase in shares outstanding). Market cap is less than US$100m (AU$18.3m market cap, or US$11.8m). Announcement • Sep 23
Oceana Lithium Limited, Annual General Meeting, Nov 28, 2023 Oceana Lithium Limited, Annual General Meeting, Nov 28, 2023, at 11:00 W. Australia Standard Time. Location: 197 St Georges Terrace Perth Western Australia Australia Announcement • Sep 13
Oceana Lithium Limited Announces Appointment of Caue Araujo as Chief Executive Officer Oceana Lithium Limited announced that appointment of Mr. Caue Araujo as Chief Executive Officer, effective from 11 September 2023. Caue is a qualified Australian-Brazilian geologist and an experienced mining industry professional. Following his early training with Vale in Brazil his subsequent roles have included General Manager of SRK Consulting Brazil, Regional Director of Investment and Business Planning at Hatch for Australia and Asia and more recently Global General Manager - Mine Finance with mining industry advisory group Palaris Australia. He has a strong aptitude for the technical and economic evaluation of mineral resource projects, having been involved in the development of numerous projects during his career working with finance providers and equity investors including emerging lithium miners and mine gate concentrate producers. Caue is a member of the Australasian Institute of Mining & Metallurgy, the Australian Institute of Company Directors and has an MBA (Project Management, Business and Finance) from Ibmec University, Brazil. Through his diverse experience, Caue has refined his abilities to lead and manage multi-disciplinary teams. He is well acquainted with the key chemical companies, battery producers and EV manufacturers' supply chain and their requirements to secure environmentally responsible long-term sources of lithium supply. Announcement • Sep 01
Oceana Lithium Limited, Annual General Meeting, Oct 03, 2023 Oceana Lithium Limited, Annual General Meeting, Oct 03, 2023, at 10:00 West Asia Standard Time. Location: level 8, 99 St Georges Terrace Perth, Perth Western Australia Australia Agenda: To consider the ratification of prior issue of shares under the monaro option; to consider ratification of prior issue of shares under the placement; to consider approval to issue attaching options under the placement; to consider the approval of issue placement options - westar capital limited; to consider ratification of prior issue of shares for the solonópole exploration permits; to consider issue of options to director jerome (gino) vitale; to consider the approval of issue securities under the oceana incentive plan ; to consider approval of increase limit under the oceana incentive plan. Announcement • May 05
Oceana Lithium Limited (ASX:OCN) has exercised its option to acquire N Green lithium exploration permits. Oceana Lithium Limited (ASX:OCN) has exercised its option to acquire N Green lithium exploration permits AUD 0.686 million on May 4, 2023. The transaction consideration is AUD 150,000 cash and 1.6m ordinary shares in Oceana, to be voluntarily escrowed for 12 months, and a further AUD 50,000 cash and 600,000 Oceana shares subject to reaching a JORC resource milestone. Board Change • Jul 22
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Director Simon Mottram was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. 