Buy Or Sell Opportunity • Jul 06
Now 28% overvalued Over the last 90 days, the stock has fallen 9.0% to AU$5.25. The fair value is estimated to be AU$4.11, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 92%. Board Change • May 20
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. 3 non-independent directors. Finance Manager & Non-Executive Alternate Director Lyndall Vaughan was the last director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • May 01
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. 3 non-independent directors. Finance Manager & Non-Executive Alternate Director Lyndall Vaughan was the last director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 24
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. 3 non-independent directors. Finance Manager & Non-Executive Alternate Director Lyndall Vaughan was the last director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 28
Tribune Resources Limited Announces Resignation of Stephen Buckley as Company Secretary, with Effect from 30 November 2025 Tribune Resources Limited advised that Stephen Buckley has resigned his position as Company Secretary with effect from the end of day on 30 November 2025. The Board thanks Stephen for the past seven years and wishes him all the best with his future endeavours. Announcement • Oct 06
Tribune Resources Limited, Annual General Meeting, Nov 28, 2025 Tribune Resources Limited, Annual General Meeting, Nov 28, 2025. Location: the plaza hotel, 45 egan street, kalgoorlie, wa Australia Board Change • Aug 18
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. 3 non-independent directors. Finance Manager & Non-Executive Alternate Director Lyndall Vaughan was the last director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Nov 11
Upcoming dividend of AU$0.20 per share Eligible shareholders must have bought the stock before 18 November 2024. Payment date: 16 December 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.1%. Lower than top quartile of Australian dividend payers (6.0%). Lower than average of industry peers (5.3%). Announcement • Oct 07
Tribune Resources Limited, Annual General Meeting, Nov 29, 2024 Tribune Resources Limited, Annual General Meeting, Nov 29, 2024. Location: at the plaza hotel, 45 egan street, kalgoorlie, western australia., Australia Reported Earnings • Sep 28
Full year 2024 earnings released: EPS: AU$0.083 (vs AU$0.01 in FY 2023) Full year 2024 results: EPS: AU$0.083 (up from AU$0.01 in FY 2023). Revenue: AU$107.9m (up 17% from FY 2023). Net income: AU$4.33m (up AU$3.81m from FY 2023). Profit margin: 4.0% (up from 0.6% in FY 2023). The increase in margin was driven by higher revenue. Production and reserves: Gold Production: 56.717 troy koz Proved and probable reserves (ore): 1.881 Mt (1.532 Mt in FY 2023) Number of mines: 3 (3 in FY 2023) Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 97 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to AU$3.90, the stock trades at a trailing P/E ratio of 29x. Average trailing P/E is 14x in the Metals and Mining industry in Australia. Total returns to shareholders of 26% over the past year. Reported Earnings • Mar 16
First half 2024 earnings released: EPS: AU$0.21 (vs AU$0.089 in 1H 2023) First half 2024 results: EPS: AU$0.21 (up from AU$0.089 in 1H 2023). Revenue: AU$63.4m (up 22% from 1H 2023). Net income: AU$11.1m (up 138% from 1H 2023). Profit margin: 18% (up from 8.9% in 1H 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. New Risk • Nov 22
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$149.5m (US$98.2m) This is considered a minor 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 Risk Earnings have declined by 32% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (349% payout ratio). Profit margins are more than 30% lower than last year (0.6% net profit margin). Market cap is less than US$100m (AU$149.5m market cap, or US$98.2m). Announcement • Oct 27
Tribune Resources Limited Declares Fully Franked Dividend, Payable on 30 November 2023 Tribune Resources Limited announced the payment of a dividend to shareholders. The Board has resolved to pay a dividend of 20 cents per share, fully franked at the company tax rate of 30%. Ex-dividend Date is 1 November 2023. Record Date is 2 November 2023. Payment Date is 30 November 2023. Buying Opportunity • Oct 27
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 7.4%. The fair value is estimated to be AU$3.90, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 25% over the last 3 years. Earnings per share has declined by 79%. Buying Opportunity • Oct 04
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 3.2%. The fair value is estimated to be AU$3.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 25% over the last 3 years. Earnings per share has declined by 79%. Announcement • Oct 02
Tribune Resources Limited, Annual General Meeting, Nov 24, 2023 Tribune Resources Limited, Annual General Meeting, Nov 24, 2023, at 09:00 W. Australia Standard Time. Location: The Plaza Hotel, 45 Egan Street Kalgoorlie Western Australia Australia Reported Earnings • Oct 01
Full year 2023 earnings released: EPS: AU$0.01 (vs AU$0.034 in FY 2022) Full year 2023 results: EPS: AU$0.01 (down from AU$0.034 in FY 2022). Revenue: AU$92.5m (down 26% from FY 2022). Net income: AU$522.8k (down 71% from FY 2022). Profit margin: 0.6% (down from 1.4% in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance. New Risk • Sep 29
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 Risk Earnings have declined by 20% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Dividend is not well covered by earnings (191% payout ratio). Profit margins are more than 30% lower than last year (5.5% net profit margin). Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to AU$3.42, the stock trades at a trailing P/E ratio of 30.4x. Average trailing P/E is 12x in the Metals and Mining industry in Australia. Total loss to shareholders of 52% over the past three years. Announcement • Aug 14
Tribune Resources Limited Appoints Lyndall Vaughan as Alternate Director to Otakar Demis Tribune Resources Ltd. announced that Mr. Otakar Demis has appointed Ms. Lyndall Vaughan as his Alternate Director for Tribune Resources Limited. Lyndall has a Bachelor of Business (Major in Accounting) and is a CPA. She has worked for both Rand Mining Ltd. and Tribune Resources Ltd. for over 19 years in numerous roles including Office Manager, Accountant, Joint Company Secretary and is currently the Finance Manager of Tribune Resources Ltd. and Rand Mining Ltd. Board Change • Apr 21
No independent 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. No independent directors (3 non-independent directors). Non-Executive Director Gordon Sklenka was the last director to join the board, commencing their role in 2004. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Mar 14
First half 2023 earnings released: EPS: AU$0.089 (vs AU$0.019 in 1H 2022) First half 2023 results: EPS: AU$0.089 (up from AU$0.019 in 1H 2022). Revenue: AU$52.2m (down 31% from 1H 2022). Net income: AU$4.66m (up 379% from 1H 2022). Profit margin: 8.9% (up from 1.3% in 1H 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Board Change • Feb 03
No independent 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. No independent directors (3 non-independent directors). Non-Executive Director Gordon Sklenka was the last director to join the board, commencing their role in 2004. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Dec 29
No independent 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. No independent directors (3 non-independent directors). Non-Executive Director Gordon Sklenka was the last director to join the board, commencing their role in 2004. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Dec 03
No independent 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. No independent directors (3 non-independent directors). Non-Executive Director Gordon Sklenka was the last director to join the board, commencing their role in 2004. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Nov 17
No independent 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. No independent directors (3 non-independent directors). Non-Executive Director Gordon Sklenka was the last director to join the board, commencing their role in 2004. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Oct 08
No independent 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. No independent directors (3 non-independent directors). Non-Executive Director Gordon Sklenka was the last director to join the board, commencing their role in 2004. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • May 31
No independent 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. No independent directors (3 non-independent directors). Non-Executive Director Gordon Sklenka was the last director to join the board, commencing their role in 2004. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Feb 24
No independent 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. No independent directors (3 non-independent directors). Non-Executive Director Gordon Sklenka was the last director to join the board, commencing their role in 2004. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Jan 26
No independent 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. No independent directors (3 non-independent directors). Non-Executive Director Gordon Sklenka was the last director to join the board, commencing their role in 2004. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Sep 14
No independent 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. No independent directors (3 non-independent directors). Non-Executive Director Gordon Sklenka was the last director to join the board, commencing their role in 2004. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. 
