New Risk • May 23
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 40% 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 Earnings have declined by 18% per year over the past 5 years. Shareholders have been substantially diluted in the past year (40% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (17% average weekly change). Market cap is less than US$100m (AU$60.4m market cap, or US$43.1m). Board Change • May 20
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. 3 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Non-Executive Director Trevor Matthews was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • May 05
Resource Minerals International Ltd has filed a Follow-on Equity Offering in the amount of AUD 3.5 million. Resource Minerals International Ltd has filed a Follow-on Equity Offering in the amount of AUD 3.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 87,500,000
Price\Range: AUD 0.04
Transaction Features: Subsequent Direct Listing Announcement • Sep 29
Resource Minerals International Ltd, Annual General Meeting, Nov 25, 2025 Resource Minerals International Ltd, Annual General Meeting, Nov 25, 2025. Board Change • Aug 18
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. 3 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Non-Executive Director Trevor Matthews was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • May 22
Resource Mining Corporation Limited has filed a Follow-on Equity Offering in the amount of AUD 2 million. Resource Mining Corporation 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: 95,238,095
Price\Range: AUD 0.021
Transaction Features: Subsequent Direct Listing Announcement • Oct 04
Resource Mining Corporation Limited, Annual General Meeting, Nov 28, 2024 Resource Mining Corporation Limited, Annual General Meeting, Nov 28, 2024. 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 51% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$8.48m market cap, or US$5.86m). 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). Announcement • Apr 24
Resource Mining Corporation Limited has completed a Follow-on Equity Offering in the amount of AUD 1 million. Resource Mining Corporation Limited has completed a Follow-on Equity Offering in the amount of AUD 1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 50,000,000
Price\Range: AUD 0.02
Transaction Features: Subsequent Direct Listing Announcement • Apr 18
Resource Mining Corporation Limited has filed a Follow-on Equity Offering in the amount of AUD 1 million. Resource Mining Corporation Limited has filed a Follow-on Equity Offering in the amount of AUD 1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 50,000,000
Price\Range: AUD 0.02
Transaction Features: Subsequent Direct Listing Announcement • Apr 03
Resource Mining Corporation Limited SHS to be Deleted from OTC Equity Resource Mining Corporation Limited SHS (Australia) will be deleted from OTC Equity effective April 02, 2024, due to inactive security. New Risk • Jan 30
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$13.5m (US$8.90m) 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$2.9m free cash flow). Less than 1 year of cash runway based on free cash flow trend (-AU$2.9m free cash flow). Shares are highly illiquid. Shares are highly illiquid. Earnings have declined by 48% per year over the past 5 years. Earnings have declined by 48% per year over the past 5 years. Revenue is less than US$1m. Revenue is less than US$1m. Market cap is less than US$10m (AU$13.5m market cap, or US$8.90m). Minor Risks Shareholders have been diluted in the past year (7.0% increase in shares outstanding). Shareholders have been diluted in the past year (7.0% increase in shares outstanding). Board Change • Jan 17
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 Director Trevor Matthews is the most experienced director on the board, commencing their role in 2021. 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. Board Change • Dec 27
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 Director Trevor Matthews is the most experienced director on the board, commencing their role in 2021. 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. Board Change • Dec 04
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 Director Trevor Matthews is the most experienced director on the board, commencing their role in 2021. 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 • Oct 28
Resource Mining Corporation Limited, Annual General Meeting, Nov 28, 2023 Resource Mining Corporation Limited, Annual General Meeting, Nov 28, 2023, at 10:00 W. Australia Standard Time. Location: Level 5, 191 St Georges Terrace, Perth Western Australia Australia Agenda: To receive and consider the annual financial report of the Company for the financial year ended 30 June 2023 together with the declaration of the Directors, the Directors' report, the Remuneration Report and the auditor's report; to consider Adoption of Remuneration Report; to consider Re-election of Director - David Round; to consider Ratification of issue of Placement Shares in August; to consider Approval of 7.1A Mandate; to consider Approval of New Plan; to consider Approval of potential termination benefits under the New Plan; and to consider Renewal of Proportional Takeover Bid Approval Provisions in Constitution. Announcement • Sep 05
Resource Mining Corporation Limited Announces Resignation of Deborah Ho as Joint Company Secretary Resource Mining Corporation Limited announced that Ms. Deborah Ho has resigned as joint Company Secretary, effective 31 August 2023. Announcement • Jul 28
Resource Mining Corporation Limited Announces Executive Changes Resource Mining Corporation Limited announced that Mr. Andrew Nesbitt and the company have mutually agreed to separate and Andrew's engagement as Chief Executive Officer will cease effective immediately. Executive Chairman, Mr. Asimwe Kabunga, will be responsible for the day-to-day operations of the company. Board Change • Jul 20
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 Director Trevor Matthews is the most experienced director on the board, commencing their role in 2021. 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 • Feb 09
Resource Mining Corporation Limited Announces Tanzanian Nickel Exploration Activities to Commence Resource Mining Corporation Limited announced that the Company has been awarded four (4) exploration permits by the United Republic of Tanzania's Ministry of Minerals' Mining Commission, covering key prospects in Tanzania previously explored by BHP/Albidon. These permits had been applied for in 2021 by Massive Nickel Tanzania Limited, and subsequent to the acquisition by Resource Mining Corporation, the permits have been awarded to the Company. deposits, and the Tanzanian government's pro-business approach and support for building a mineral extractive industry in the country. The permits will allow RMC to carry out exploration activities in these areas, including geophysical and geochemical surveys, drilling and other fieldwork, to further assess the potential of these prospects. The permits are across the four districts and their location and include:Mbinga and Nyasa, Mpanda and Urban, Uvinza and Ngara. Announcement • Jan 26
Resource Mining Corporation Limited Appoints Kellie Davis as Joint Company Secretary, Effective January 26, 20203 Resource Mining Corporation Limited announced the appointment of Mrs. Kellie Davis as joint Company Secretary, effective 26 January 2023. Mrs. Davis has over 20 years' experience in accounting and ASX compliance, predominantly in the resource sector. Beginning her career in Audit with Ernst &Young, she worked for as a Financial Accountant and provided company secretarial services for a number of listed ASX companies in the exploration and resources sectors. Mrs. Davis has a Bachelor of Commerce (Accounting and Finance) Degree and is a Chartered Accountants Australia & New Zealand member. Mrs. Davis is part of the team at Ventnor Compliance which provides company secretarial and governance services. Board Change • Nov 16
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 Director Trevor Matthews is the most experienced director on the board, commencing their role in 2021. 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. Board Change • Apr 27
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). Interim Chairman Trevor Matthews is the most experienced director on the board, commencing their role in 2021. 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 • 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. 2 non-independent directors. Independent Non-Executive Chairman Bill Mackenzie was the last independent director to join the board, commencing their role in 2008. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jan 07
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 Bill Mackenzie was the last independent director to join the board, commencing their role in 2008. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Executive Departure • Nov 23
Non-Executive Director Chi Zhang has left the company On the 22nd of November, Chi Zhang's tenure as Non-Executive Director ended after 15.6 years in the role. We don't have any record of a personal shareholding under Chi's name. Chi is the only executive to leave the company over the last 12 months. Reported Earnings • Oct 01
Full year 2021 earnings released: AU$0.002 loss per share (vs AU$0.001 loss in FY 2020) Full year 2021 results: Net loss: AU$733.7k (loss widened 73% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Board Change • Sep 21
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. No experienced directors. 3 highly experienced directors. 1 independent director (2 non-independent directors). Independent Non-Executive Chairman Bill Mackenzie was the last independent director to join the board, commencing their role in 2008. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 01
Full year earnings released - AU$0.0014 loss per share Over the last 12 months the company has reported total losses of AU$425.3k, with losses narrowing by 5.2% from the prior year. 