Board Change • May 12
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 Director Garry Stock was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 09
Mineral Road Discovery Inc. announced that it expects to receive CAD 0.36 million in funding Mineral Road Discovery Inc. announces a non-brokered private placement of up to 6,000,000 units at a price
of CAD 0.06 per unit for gross proceeds of CAD 360,000 on April 8, 2026. Each unit consists of one common share and one warrant, each warrant entitling the holder to purchase one common share at a price of CAD 0.08 for a period of three years from closing. The Private Placement is subject to approval by the Canadian Securities Exchange and all securities issued will be subject to a four-month hold period. Announcement • Feb 20
Mineral Road Discovery Inc. Announces Resignation of Harry Nijjar as Chief Financial Officer, Effective February 12, 2026 Mineral Road Discovery Inc. announced that effective February 12, 2026, Mr. Harry Nijjar has resigned his position as Chief Financial Officer of the Company to focus on other projects. New Risk • Jan 21
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 22% 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 39% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$5.18m market cap, or US$3.74m). Minor Risk Shareholders have been diluted in the past year (22% increase in shares outstanding). Announcement • Dec 23
Mineral Road Discovery Inc. (CNSX:ROAD) agreed to acquire an additional 6.20% stake in Golcap Resources Corp. (CNSX:GCP) for CAD 0.45 million. Mineral Road Discovery Inc. (CNSX:ROAD) agreed to acquire an additional 6.20% stake in Golcap Resources Corp. (CNSX:GCP) for CAD 0.45 million on December 22, 2025. Upon completion, Mineral Road Discovery Inc. will own 37.24% stake in Golcap Resources Corp. Board Change • Aug 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 Director Garry Stock was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jul 28
Mineral Road Discovery Inc., Annual General Meeting, Sep 19, 2025 Mineral Road Discovery Inc., Annual General Meeting, Sep 19, 2025. Board Change • Apr 02
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 Director Garry Stock was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Feb 26
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 Director Garry Stock was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Dec 21
Mineral Road Discovery Inc. announced that it has received CAD 0.635 million in funding On December 19, 2024, Mineral Road Discovery Inc., closed the transaction. The company issued 5,291,667 flow through common shares at a price of CAD 0.12 per share for the gross proceeds of CAD 635,000.04. The Company paid CAD 38,100 in commission in connection with the offering. Announcement • Dec 13
Mineral Road Discovery Inc. announced that it expects to receive CAD 0.636 million in funding Mineral Road Discovery Inc. announced a non-brokered private placement of up to 5,300,000 flow-through common shares at a price of CAD 0.12 per share for the gross proceeds of CAD 636,000 on December 12, 2024. Finder’s fees may be payable to eligible finders upon completion of the Offering. Announcement • Dec 05
NewPeak Metals Limited (ASX:NPM) agreed to acquire AusVan Battery Metals PTY LTD from Mineral Road Discovery Inc. (CNSX:ROAD), Mammoth Resources Pty Ltd and others. NewPeak Metals Limited (ASX:NPM) agreed to acquire AusVan Battery Metals PTY LTD from Mineral Road Discovery Inc. (CNSX:ROAD) and Mammoth Resources Pty Ltd on December 4, 2024. The consideration consists of 303.03 million common equity of NewPeak Metals Limited to be issued for common equity of AusVan Battery Metals PTY LTD. As part of consideration, an undisclosed value is paid towards common equity of AusVan Battery Metals PTY LTD.
Both NewPeak and AusVan conducting, and being satisfied in all respects with the results of their respective legal, financial and technical due diligence investigations in relation to each other, the Proposed Transaction, and the Tenements NewPeak and AusVan obtaining all relevant authorisations and third-party approvals and consents to the Proposed Transaction in accordance with all applicable regulatory requirements
The expected completion of the transaction is February 10, 2025. An independent expert has been engaged by NewPeak to opine as to whether or not the Proposed Transaction is fair and reasonable to NewPeak shareholders. Board Change • Nov 22
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 Director Garry Stock was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 06
Mineral Road Discovery Inc. (CNSX:ROAD) agreed to acquire an additional unknown minority stake in Golcap Resources Corp. (CNSX:GCP) from 1459988 B.C. Ltd. Mineral Road Discovery Inc. (CNSX:ROAD) agreed to acquire an additional unknown minority stake in Golcap Resources Corp. (CNSX:GCP) from 1459988 B.C. Ltd. on November 1, 2024. The consideration consists of 6.25 million common equity of Mineral Road Discovery Inc. to be issued for common equity of Golcap Resources Corp. As part of consideration, an undisclosed value is paid towards common equity of Golcap Resources Corp.
The Acquisition Agreement is subject to approval by the CSE. The ROAD Shares issued upon closing of the Acquisition Agreement will be subject to a four month hold period in accordance with applicable securities laws. Announcement • Sep 17
Mineral Road Discovery Inc. announced that it expects to receive CAD 0.3 million in funding Mineral Road Discovery Inc announced a non-brokered private placement of up to 4,000,000 shares at a price of CAD 0.075 per share for proceeds of CAD 300,000 on September 16, 2024. The Private Placement is subject to approval by the Canadian Securities Exchange (the “CSE”). All shares issued upon closing of the Private Placement will be subject to a four month hold period in accordance with applicable securities laws. Announcement • Sep 10
Mineral Road Discovery Inc. announced that it has received CAD 0.5725 million in funding On September 9, 2024. the company closed the transaction. it has increased and closed the final tranche of its non-brokered private placement and has raised an additional CAD 7,500 through the issuance of 150,000 common shares at a price of CAD 0.05 per share. Total raised to date pursuant to this Offering is CAD 572,500. Announcement • Aug 16
Crest Resources Inc. announced that it has received CAD 0.565 million in funding On August 15, 2024 the company announced that it has issued 2,900,000 common shares at a price of CAD 0.05 per share for the gross proceeds of CAD 145,000 in the second and final tranche. All shares issued are subject to a four month hold period expiring December 16, 2024. Total raised to date pursuant to this Offering is CAD 565,000. Insiders participated in the Offering for CAD 40,000. Announcement • Jul 27
Crest Resources Inc. announced that it expects to receive CAD 0.5 million in funding Crest Resources Inc. announced a non-brokered private placement of up to 10,000,000 common shares at a price of CAD 0.05 per share for gross proceeds of CAD 500,000 on July 26, 2024. The private placement is subject to approval by the Canadian Securities Exchange. All shares issued upon closing of the private placement will be subject to a four-month hold period, in accordance with applicable securities laws. Board Change • Jul 09
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, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Director Garry Stock is the most experienced director on the board, commencing their role in 2020. 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 30
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, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Director Garry Stock is the most experienced director on the board, commencing their role in 2020. 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 03
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, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Director Garry Stock is the most experienced director on the board, commencing their role in 2020. 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 • Mar 07
Crest Resources Inc. announced that it has received CAD 0.32 million in funding On March 6, 2024, Crest Resources Inc. closed the transaction. The company issued 1,900,000 units at a price of CAD 0.04 per unit for a gross proceeds CAD 76,000 in its final tranche. Each unit consists of one common share and one warrant, each warrant entitling the holder to purchase one common share at a price of CAD 0.05 for a period of five years expiring March 6, 2029. All securities issued are subject to a four month hold period expiring July 7, 2024. Emma Fairhurst, the Company’s Chairperson and Director, acquired 200,000 units. As a result, she now owns, directly and indirectly, 39.31% of the outstanding shares of the Company or 52.03% assuming exercise of all warrants held by Fairhurst and is a “control person” as that term is defined under securities legislation. Recent Insider Transactions • Feb 02
Executive Chairperson recently bought CA$160k worth of stock On the 31st of January, Emma Fairhurst bought around 4m shares on-market at roughly CA$0.04 per share. This transaction amounted to 48% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Emma's only on-market trade for the last 12 months. Board Change • Jan 30
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, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Director Garry Stock is the most experienced director on the board, commencing their role in 2020. 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 • Jan 23
Crest Resources Inc. announced that it expects to receive CAD 0.2 million in funding Crest Resources Inc. announced a non-brokered private placement of up to 5,000,000 units at a price of CAD 0.04 per unit for proceeds of CAD 200,000 on January 22, 2024. Each unit consists of one common share and one warrant, with each warrant entitling the holder to purchase one common share at a price of CAD 0.05 for a period of five years from closing. The private placement is subject to approval by the Canadian Securities Exchange. Board Change • Dec 05
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, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Director Garry Stock is the most experienced director on the board, commencing their role in 2020. 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 • Nov 23
Crest Resources Inc. announced that it expects to receive CAD 0.195 million in funding Crest Resources Inc. announced a non-brokered private placement of up to 6,500,000 units at a price of CAD 0.03 per unit for the gross proceeds of up to CAD 195,000 on November 22, 2023. Each unit consists of one common share and one warrant, each warrant entitling the holder to purchase one common share at a price of CAD 0.05 for a period of five years from closing. The transaction is subject to the approval by the Canadian Securities Exchange. New Risk • Nov 01
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: -CA$976k 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 (-CA$976k free cash flow). Shares are highly illiquid. Earnings have declined by 58% per year over the past 5 years. Shareholders have been substantially diluted in the past year (57% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$592.7k market cap, or US$427.0k). New Risk • Oct 25
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 57% 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 Shares are highly illiquid. Earnings have declined by 45% per year over the past 5 years. Shareholders have been substantially diluted in the past year (57% increase in shares outstanding). Revenue is less than US$1m (CA$53k revenue, or US$39k). Market cap is less than US$10m (CA$592.7k market cap, or US$431.6k). Announcement • Oct 05
Crest Resources Inc. Announces Appointment of Harry Nijjar as Chief Financial Officer Crest Resources Inc. announced that effective September 29, 2023, Mr. Harry Nijjar was appointed as Chief Financial Officer of the Company. Mr. Nijjar is currently a Managing Director with Malaspina Consultants Inc. and provides CFO and strategic financial advisory services to his clients across many industries. As CFO of Crest Mr. Nijjar will be responsible for the financial reporting and other administrative functions. Mr. Nijjar is currently also CFO of Los Andes Copper Ltd., Playgon Games Inc., Oberon Uranium Corp. and Marvel Biosciences Corp. Mr. Nijjar holds a CPA CMA designation from the Chartered Professional Accountants of British Columbia and a B.Com from the University of British Columbia. Reported Earnings • Sep 30
Full year 2023 earnings released: CA$0.26 loss per share (vs CA$0.16 profit in FY 2022) Full year 2023 results: CA$0.26 loss per share (down from CA$0.16 profit in FY 2022). Net loss: CA$9.37m (down 336% from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 38 percentage points per year, which is a significant difference in performance. Board Change • Aug 25
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, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Director Garry Stock is the most experienced director on the board, commencing their role in 2020. 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 • Aug 23
Crest Resources Inc. announced that it has received CAD 0.310975 million in funding On August 22, 2023, Crest Resources Inc. closed the transaction. The company amended the terms of the transaction and issued 8,885,000 units at a price of CAD 0.035 per unit for the gross proceeds of CAD 310,975. Each unit consists of one common share and one warrant, each warrant entitling the holder to purchase one common share at a price of CAD 0.05 for a period of five years expiring August 22, 2028. Announcement • Aug 11
Crest Resources Inc. announced that it expects to receive $0.35 million in funding Crest Resources Inc. announced a non-brokered private placement of up to 10,000,000 units at a price of CAD 0.035 per unit for gross proceeds of CAD 350,000 on August 10, 2023. Each unit consists of one common share and one warrant, each warrant entitling the holder to purchase one common share at a price of CAD 0.05 for a period of five years from closing. The transaction is subject to approval by the Canadian Securities Exchange. Finder’s fees may be payable in accordance with the policies of the CSE and all securities issued will be subject to a hold period of four months and one day in accordance with applicable securities laws. 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, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Director Garry Stock is the most experienced director on the board, commencing their role in 2020. 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 • Jun 06
Crest Resources Inc. Appoints Ms. Emma Fairhurst as Interim CFO Crest Resources Inc. announced that effective June 5, 2023, Ms. Emma Fairhurst, the Company's Chairperson and director, is appointed as interim CFO while the Company seeks to identify a permanent CFO. Mr. Alan Tam has resigned his position as CFO effective May 31, 2023. The Company wishes to thank Mr. Tam for his contributions to the Company and wishes him success on his new endeavours. Board Change • May 26
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, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Director Garry Stock is the most experienced director on the board, commencing their role in 2020. 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. Reported Earnings • Apr 29
Third quarter 2023 earnings released: CA$0.005 loss per share (vs CA$0.077 loss in 3Q 2022) Third quarter 2023 results: CA$0.005 loss per share (improved from CA$0.077 loss in 3Q 2022). Net loss: CA$497.4k (loss narrowed 73% from 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 41 percentage points per year, which is a significant difference in performance. Announcement • Jan 21
Crest Resources Inc. announced that it has received CAD 0.7145 million in funding Crest Resources Inc. announced that it has completed a non-brokered private placement of 28,580,000 units at a price of CAD 0.025 per unit for gross proceeds of up to CAD 714,500 on January 20, 2023. Each unit consists of one common share and one common share warrant. Each whole warrant will entitle the holder to purchase one common share at an exercise price of CAD 0.05 per share at any time within 5 years expiring January 19, 2028. All securities to be issued in the transaction will be subject to a 4 month hold period expiring May 20, 2023. The transaction included participation from Emma Fairhurst for 7,500,000 units. Reported Earnings • Dec 23
Full year 2022 earnings released: EPS: CA$0.052 (vs CA$0.052 in FY 2021) Full year 2022 results: EPS: CA$0.052 (in line with FY 2021). Net income: CA$3.98m (up 43% from FY 2021). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent There are 6 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: 6 new directors. No experienced directors. No highly experienced directors. 1 independent director (3 non-independent directors). Independent Director Garry Stock is the most experienced director on the board, commencing their role in 2020. 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 board continuity. Lack of experienced directors. Announcement • Sep 28
Crest Resources Inc. Announces Resignation of Jonas Lauren Norr as Director Crest Resources Inc. announced that effective September 25, 2022, Mr. Jonas Lauren Norr has resigned as director. Announcement • Jul 08
Crest Resources Inc. (CNSX:CRES) acquired a 7% stake in OCP Holdings Ltd. for CAD 0.1 million from Garry Stock and 0744350 BC Ltd. Crest Resources Inc. (CNSX:CRES) acquired a 7% stake in OCP Holdings Ltd. for CAD 0.1 million from Garry Stock and 0744350 BC Ltd. on July 7, 2022. The 2.1 million OCP shares were acquired for consideration of 2,688,000 common shares of the Company at a deemed price of $0.10 per share. Together with shares previously purchased, the Company now owns a total of 12,666,667 shares representing 43% of the issued and outstanding shares of OCP. Both Jason Cubitt and Garry Stock, directors of the Company, have abstained from voting on the transaction. The Crest Shares are subject to a statutory four month hold period expiring November 7, 2022.
Crest Resources Inc. (CNSX:CRES) completed the acquisition of a 7% stake in OCP Holdings Ltd. from Garry Stock and 0744350 BC Ltd. on July 7, 2022. Announcement • Jun 03
Crest Resources Inc. announced that it expects to receive CAD 1 million in funding Crest Resources Inc. closed a non-brokered private placement of maximum 20,000,000 units at a price of CAD 0.05 per unit for gross proceeds of CAD 1,000,000 on June 2, 2022. Each Unit consists of one common share and one common share purchase warrant. Each warrant is exercisable to acquire one common share at a price of CAD 0.06 for a period of 60 months after the closing of the offering. All securities issued will be subject to a four month hold period from the date of closing of the offering. In addition to the four month hold, the common shares will also be subject to a further resale restriction expiring thirty months from the date of provided that, if at any time after the expiry of the four month hold, the 10 day volume weighted average price of the common shares of the company, is equal to or greater than CAD 0.25, the 30 month restriction shall expire. Reported Earnings • May 02
Third quarter 2022 earnings released: CA$0.026 loss per share (vs CA$0.034 profit in 3Q 2021) Third quarter 2022 results: CA$0.026 loss per share (down from CA$0.034 profit in 3Q 2021). Net loss: CA$1.86m (down 214% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. 