Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Donald Stephens was the last independent director to join the board, commencing their role in 2003. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • May 01
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Donald Stephens was the last independent director to join the board, commencing their role in 2003. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Dec 25
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 27% This is considered a minor 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 Earnings have declined by 70% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (27% increase in shares outstanding). Market cap is less than US$100m (AU$110.2m market cap, or US$73.8m). Board Change • Dec 24
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Donald Stephens was the last independent director to join the board, commencing their role in 2003. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Dec 02
PTR Minerals Ltd has filed a Follow-on Equity Offering in the amount of AUD 12 million. PTR Minerals Ltd has filed a Follow-on Equity Offering in the amount of AUD 12 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 48,000,000
Price\Range: AUD 0.25
Discount Per Security: AUD 0.015
Transaction Features: Subsequent Direct Listing Announcement • Sep 19
Petratherm Limited, Annual General Meeting, Nov 06, 2025 Petratherm Limited, Annual General Meeting, Nov 06, 2025. Board Change • Aug 18
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Donald Stephens was the last independent director to join the board, commencing their role in 2003. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 07
Petratherm Limited has completed a Follow-on Equity Offering in the amount of AUD 8.1 million. Petratherm Limited has completed a Follow-on Equity Offering in the amount of AUD 8.1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 35,818,181
Price\Range: AUD 0.22
Discount Per Security: AUD 0.0132
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,000,000
Price\Range: AUD 0.22
Discount Per Security: AUD 0.0132
Transaction Features: Subsequent Direct Listing Announcement • Oct 18
Petratherm Limited, Annual General Meeting, Nov 21, 2024 Petratherm Limited, Annual General Meeting, Nov 21, 2024. Location: hlb mann judd, level 1, 169 fullarton road, dulwich sa 5065, Australia Announcement • Oct 17
Petratherm Limited has completed a Follow-on Equity Offering in the amount of AUD 1.300686 million. Petratherm Limited has completed a Follow-on Equity Offering in the amount of AUD 1.300686 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 37,162,450
Price\Range: AUD 0.035 New Risk • Sep 30
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. Earnings have declined by 11% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$13.0m market cap, or US$9.05m). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Shareholders have been diluted in the past year (18% increase in shares outstanding). New Risk • Sep 24
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 18% This is considered a minor 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 Shares are highly illiquid. Earnings have declined by 11% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$12.0m market cap, or US$8.21m). Minor Risk Shareholders have been diluted in the past year (18% increase in shares outstanding). New Risk • Mar 16
New major risk - Revenue and earnings growth Earnings have declined by 11% 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 Less than 1 year of cash runway based on free cash flow trend (-AU$2.6m free cash flow). Shares are highly illiquid. Earnings have declined by 11% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$4.50m market cap, or US$2.95m). New Risk • Sep 29
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$2.3m 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$2.3m free cash flow). Shares are highly illiquid. Revenue is less than US$1m (AU$89k revenue, or US$57k). Market cap is less than US$10m (AU$11.5m market cap, or US$7.36m). Announcement • Sep 26
Petratherm Limited, Annual General Meeting, Nov 14, 2023 Petratherm Limited, Annual General Meeting, Nov 14, 2023. New Risk • Jul 22
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.6m (US$9.83m) 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). Revenue is less than US$1m (AU$276 revenue, or US$186). Market cap is less than US$10m (AU$14.6m market cap, or US$9.83m). Announcement • Feb 16
Petratherm Limited Reports Rare Earth Drill Results from the Meteor Prospect Petratherm Limited reported rare earth (REE) drill results from the Meteor Prospect, located in the Comet Project Area of the Northern Gawler Craton of South Australia. Drilling was undertaken in December 2022 over the central portion of the prospect and comprised infill grid drilling to 100metre spacing. 47 vertical air-core holes were drilled through the clay weathering profile with an average hole depth of 26 metres. A continuous blanket of high-grade, >1000 ppm Total Rare Earth Oxide (TREO), mineralisation starting from shallow depths (3-6 metres), and over substantial vertical thicknesses downhole (up to 38 metres) has been defined. In all, 43 drill holes from the current program at the Meteor Prospect (91% of holes drilled) returned significant mineralised REE intercepts. Mineralisation has proven to be highly continuous and several zones contain adjacent drill holes assaying >1000 ppm TREO intervals over thicknesses greater than 20 metres. Three metre composite drill samples were assayed and grades up to 2,829 ppm TREO were reported. Meteor contains good concentrations of high-value magnet rare earths (MREO) averaging 26% of TREO (Table 1), with a highest MREO composite sample returning 746 ppm. Across the prospect the average MREO drill intercept grade is 242 ppm. The drill results presented are 3 metre composite samples from the 100-metre spaced air core drilling program. West-East and North-South cross-sections over the Meteor Prospect show an upper high-grade (1,000 to 2,800 ppm TREO) zone of enrichment within the saprolite clay. This is surrounded by a broader mineralised envelope ranging between 500 to 1000 ppm TREO which often extends below the high-grade pod into the saprolite zone. Announcement • Jan 17
Petratherm Limited Announces Board and Senior Manager Appointments Petratherm Limited announced the strengthening of the Company's technical and corporate management team with three new appointments. PTR has built an enviable project portfolio in South Australia, focused on copper-gold in the World-Class Olympic Domain and rare earths in the Northern Gawler Craton, where high-grade drill intersections have been uncovered. The appointments aim to significantly bolster PTR's technical and corporate capacity as the Company strives to become one of Australia's best and most dynamic critical mineral explorers. Joining PTRs board as a non-executive Director will be Mr. Simon Taylor, effective 17 January 2023. Mr. Taylor is a resources industry executive with over 30 years' experience in geology, finance and corporate management at CEO and Board levels. His direct operational and capital markets experience spans a wide range of commodities and jurisdictions including Australia, South and North America, Africa, Europe and China. In addition to his experience as a resource professional, he has advised companies at the corporate level on capital management, acquisitions, promotions and strategies to add shareholder value. Mr. Taylor is based in Sydney which will significantly raise PTR's profile and reach into the important eastern seaboard capital markets. Most recently, Mr. Taylor was Managing Director of Oklo Resources Limited when it was acquired by B2Gold Corp. in September 2022. Currently he is a Non-Executive Director of Chesser Resources, Stellar Resources and Black Canyon Resources. Simon is a Member of the Australian Institute of Geoscientists (MAIG) and a graduate of Sydney University. Appointment of Mr. Peter Reid as Chief Executive Officer, effective 10 January 2023. Mr. Reid has been Petratherm's Exploration Manager since August 2018 and has over 30 years' experience in mineral exploration. Mr. Reid has strong exploration and generative credentials, including being a part of the original Minotaur Resources team which discovered the world-class Prominent Hill copper-gold deposit and the later successful IPO spin offs of ASX listed, Mithril Resources Limited and Petratherm Limited. He was the founding CEO of Petratherm Limited following its initial ASX listing in 2004, as a geothermal explorer and developer. In 2011 he received the Australian Geothermal Energy Association Chairman's Award for his services to the Australian Geothermal Industry. He was Chairman of the Australian Geothermal Reporting Code from 2010-14. Board Change • Jan 03
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. No experienced directors. 3 highly experienced directors. Independent Non-Executive Director Donald Stephens was the last director to join the board, commencing their role in 2003. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Nov 17
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. No experienced directors. 3 highly experienced directors. Independent Non-Executive Director Donald Stephens was the last director to join the board, commencing their role in 2003. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 28
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. No experienced directors. 3 highly experienced directors. Independent Non-Executive Director Donald Stephens was the last director to join the board, commencing their role in 2003. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Mar 30
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. No experienced directors. 3 highly experienced directors. Independent Non-Executive Director Donald Stephens was the last director to join the board, commencing their role in 2003. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Feb 08
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. No experienced directors. 3 highly experienced directors. Independent Non-Executive Director Donald Stephens was the last director to join the board, commencing their role in 2003. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jan 05
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. No experienced directors. 3 highly experienced directors. Independent Non-Executive Director Donald Stephens was the last director to join the board, commencing their role in 2003. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Oct 19
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. 1 experienced director. 2 highly experienced directors. Independent Non-Executive Chairman Derek Carter was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 07
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. 1 experienced director. 2 highly experienced directors. Independent Non-Executive Chairman Derek Carter was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.