Board Change • Feb 04
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. MD & Chairman Russell Bradford 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. Tillkännagivande • Jan 30
Torque Metals Limited (ASX:TOR) entered into a binding scheme implementation deed to acquire Aston Minerals Limited (ASX:ASO) in a merger of equals transaction for AUD 21.5 billion. Torque Metals Limited (ASX:TOR) entered into a binding scheme implementation deed to acquire Aston Minerals Limited (ASX:ASO) in a merger of equals transaction for AUD 21.5 billion on January 28, 2025. As part of the deal, Torque Metals Limited will offer 1 Torque share for every 5.2 Aston Minerals Limited shares, representing an offer price of AUD 0.01 per Aston Minerals Limited share. Upon implementation of the Scheme, existing shareholders of Torque Metals Limited and Aston Minerals Limited will hold approximately 50% and 50% of the combined entity.Aston Minerals Limited has agreed to provide Torque Metals Limited with a working capital facility of up to A$1.2 million to assist with costs incurred by Torque in connection with the Proposed Merger. Tolga Kumova and Evan Cranston will be joining the Board of Torque, with Cristian Moreno and Andrew Woskett to remain in their respective roles of Managing Director and Chairman. The transaction is subject to ASIC and ASX approvals, approval of offer by target shareholders, consummation of private placement, Independent Expert Report, and subject to court approval. The expected completion of the transaction is late April 2025. The Board of Directors of Aston Minerals Limited unanimously recommend that all shareholders and option holders vote in favour of the offer. Euroz Securities Limited acted as financial advisor for Torque Metals Limited. Allion Legal acted as legal advisor for Torque Metals Limited. Steinepreis Paganin. Automic Pty Ltd acted as legal advisor for Aston Minerals Limited. acted as a registrar to Aston Minerals Limited. New Risk • Oct 16
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$13.0m (US$8.65m) 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$7.1m free cash flow). Earnings have declined by 20% per year over the past 5 years. Revenue is less than US$1m (AU$158k revenue, or US$105k). Market cap is less than US$10m (AU$13.0m market cap, or US$8.65m). Minor Risk Share price has been volatile over the past 3 months (16% average weekly change). Tillkännagivande • Oct 14
Aston Minerals Limited Evaluates Potential Extensions to High Grade Hangingwall and Edleston East Gold Targets Aston Minerals Limited announced the Company has appointed external consultants to conduct a structural targeting analysis program of the high grade gold mineralisation potential of the Edleston Gold Project. The initial focus of the program is the evaluation of the High Grade Hangingwall and Edleston East Targets. Both of these targets have substantial high grade gold intersected. The Edleston Project is located approximately 60km via road to the south of Timmins, Ontario. Both towns of Kirkland Lake and Timmins are significant former and current producers, with all required services and skilled labour available to support exploration and development of the Project. Edleston is located within the Abitibi Greenstone Belt of Archean metavolcanic and metasedimentary assemblages which have been steeply folded with the axes trending in a general east-west direction. These have been intruded mainly by large granitic bodies and by masses of mafic and ultramafic rocks and well as several ages of younger dolerite dykes. The Abitibi Greenstone Belt extends from north-eastern Ontario and northern Quebec for over 800km. Regionally the Project is located within the western extension of the Cadillac-Larder Fault Zone along which a number of major gold deposits and mines are located. The occurrence of a Timiskaming conglomerate, similar to that occurring at Kirkland Lake, at several places within the eastern extent of the Project supports this view. The host lithology is an altered and sheared ultramafic that exhibits extensive silicification and contains abundant quartz-carbonate veins, veinlets and fracture fill. This host unit extends over 10km to the east of the drilled area. Mineralisation is broadly distributed throughout this lithology as pyrite in ranges of 3 to 5% with trace chalcopyrite and occasional visible gold. Intercalated volcanic and metasedimentary units lie to the north and south of the Edleston mineralised zone. Tillkännagivande • Oct 08
Aston Minerals Limited, Annual General Meeting, Nov 26, 2024 Aston Minerals Limited, Annual General Meeting, Nov 26, 2024. Reported Earnings • Oct 02
Full year 2024 earnings released: AU$0.005 loss per share (vs AU$0.023 loss in FY 2023) Full year 2024 results: AU$0.005 loss per share (improved from AU$0.023 loss in FY 2023). Net loss: AU$5.89m (loss narrowed 77% from FY 2023). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 51% per year, which means it is significantly lagging earnings. 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 Less than 1 year of cash runway based on free cash flow trend (-AU$9.8m free cash flow). Earnings have declined by 32% per year over the past 5 years. Revenue is less than US$1m (AU$113k revenue, or US$78k). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (AU$18.1m market cap, or US$12.5m). New Risk • Jun 13
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.2m (US$9.47m) 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$9.8m free cash flow). Earnings have declined by 32% per year over the past 5 years. Revenue is less than US$1m (AU$113k revenue, or US$75k). Market cap is less than US$10m (AU$14.2m market cap, or US$9.47m). Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Shareholders have been diluted in the past year (16% increase in shares outstanding). New Risk • Apr 17
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$15.5m (US$9.98m) 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$9.8m free cash flow). Earnings have declined by 32% per year over the past 5 years. Revenue is less than US$1m (AU$113k revenue, or US$73k). Market cap is less than US$10m (AU$15.5m market cap, or US$9.98m). Minor Risks Share price has been volatile over the past 3 months (17% average weekly change). Shareholders have been diluted in the past year (16% increase in shares outstanding). New Risk • Mar 27
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. 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$9.8m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 32% per year over the past 5 years. Revenue is less than US$1m (AU$113k revenue, or US$74k). Minor Risks Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (AU$16.8m market cap, or US$11.0m). Reported Earnings • Mar 17
First half 2024 earnings released: AU$0.003 loss per share (vs AU$0.011 loss in 1H 2023) First half 2024 results: AU$0.003 loss per share (improved from AU$0.011 loss in 1H 2023). Net loss: AU$4.20m (loss narrowed 65% from 1H 2023). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 43% per year, which means it is significantly lagging earnings. Tillkännagivande • Oct 05
Aston Minerals Limited, Annual General Meeting, Nov 29, 2023 Aston Minerals Limited, Annual General Meeting, Nov 29, 2023, at 14:30 W. Australia Standard Time. Agenda: To consider the election of directors. Reported Earnings • Sep 30
Full year 2023 earnings released: AU$0.023 loss per share (vs AU$0.025 loss in FY 2022) Full year 2023 results: AU$0.023 loss per share. Net loss: AU$25.5m (loss widened 3.1% from FY 2022). New Risk • Aug 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. 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$26m free cash flow). Earnings have declined by 31% per year over the past 5 years. Revenue is less than US$1m (AU$61k revenue, or US$40k). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (AU$61.2m market cap, or US$39.6m). New Risk • Aug 01
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% 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 Less than 1 year of cash runway based on free cash flow trend (-AU$26m free cash flow). Earnings have declined by 31% per year over the past 5 years. Revenue is less than US$1m (AU$61k revenue, or US$41k). Minor Risks Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (AU$63.8m market cap, or US$42.8m). Reported Earnings • Mar 17
First half 2023 earnings released: AU$0.011 loss per share (vs AU$0.012 loss in 1H 2022) First half 2023 results: AU$0.011 loss per share. Net loss: AU$12.0m (loss widened 7.8% from 1H 2022). Tillkännagivande • Jan 19
Aston Minerals Limited Announces Maiden Gold Mineral Resource of 1.5 Moz Au at Edleston Aston Minerals Limited announced the delineation of a maiden Mineral Resource Estimate across the Edleston Main and Sirola Gold Prospects. The Mineral Resource represents the culmination of a substantial exploration program undertaken by Aston between February 2021 through to December 2022 aiming to infill and extend mineralisation at Edleston Main. In addition, exploratory drilling completed at the Sirola Prospect targeted the along strike extension of the Edleston Main trend which had only undergone limited exploration prior to Aston's involvement. Sirola is considered to be a significant discovery based on its scale and the fact that it is open along strike to east and west. The Mineral Resource Estimation was undertaken by Cube Consulting, a Perth based independent geological and mining engineering consulting firm. The Edleston Project is located approximately 60km via road to the south of Timmins, Ontario, Canada. The towns of Timmins and Kirkland Lake are located close by and host significant former and current producers, with required services and skilled labour available to support exploration and development of the Project. The region is globally recognised in terms of large scale open pit and underground operations. The scale of gold mineralisation delineated at Edleston, which represents only 20% of the strike tested to date, justifies a standalone team and focus to advance the Project. The Company is cognisant of the capital and focus required to further advance the gold potential of the Project and on the basis of the outcome of the resource estimate is looking at opportunities to monetise the gold asset. This process may involve a trade sale, spin out into a new listing or farm in by an existing miner. The Company will keep the market informed of the process and provide updates as the process unfolds. In excess of C$10M was spent on primarily geophysical and drilling activities across the Edleston Project by 55 North Mining Inc. (formerly SGX Resources Inc). Due to the lack of outcrop at surface, exploration was largely driven by a combination of detailed magnetics to define the structural and lithological framework. Induced Polarisation (IP) has been utilised effectively to directly target mineralisation. Multiple moderate to strong IP chargeability anomalies paralleling and along strike from Edleston are yet to be drill tested. Predecessors completed a total of 156 diamond drill holes for >46,000m of drilling. The drilling was predominantly on 50m section spacing with holes 50m apart on section and 10 to 100m vertical spacing down dip. Drill core facility and associated drill core diamond drill holes are available on site. Exploration across Edleston Main, Central Zone and Sirola consisted predominantly of drilling with 60 diamond drill holes for 28,360m completed utilised in the Resource Estimate. The Edleston Main and Sirola Gold Mineral Resource has been estimated to have an Indicated Resource of 14.0 million tonnes at 0.9 g/t Au for 400,200 oz Au and Inferred Resource of 34.1 million tonnes at 1.0 g/t Au for 1,099,800 oz Au at 0.4 g/t Au cut off grade. The Indicated and Inferred Resource totals 48.1 million tonnes at 1.0 g/t Au for 1,500,100 oz Au at a cut off grade of 0.4 g/t Au. The Mineral Resource has been reported in accordance with the 2012 Edition of the JORC Code. Cube considers that the data collection techniques are consistent with good industry practice and are suitable for use in the preparation of a MRE to be reported in accordance with the JORC Code. Available quality assurance and quality control (QAQC) data supports the use of the input data provided by Aston. The MRE is considered to have a reasonable prospect for eventual economic extraction (RPEEE) on the following basis: Location of the Project in a favourable mining jurisdiction with an extensive history of large scale open pit and underground mining operations; Proximity to infrastructure including low cost, environmentally responsible hydroelectric power; No known impediments to land access or tenure; and The width, geometry and grade of the MRE is amenable to mining extraction via traditional open pit mining methods. Open pit optimisation is currently underway and further updates will be provided once completed. Board Change • Nov 16
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. MD & Director R. Ginn was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 01
Full year 2022 earnings released: AU$0.025 loss per share (vs AU$0.03 loss in FY 2021) Full year 2022 results: AU$0.025 loss per share (improved from AU$0.03 loss in FY 2021). Net loss: AU$24.7m (loss narrowed 4.6% from FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
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. MD & Director R. Ginn was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 19
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: AU$0.012 loss per share (down from AU$0.01 loss in 1H 2021). Net loss: AU$11.1m (loss widened 47% from 1H 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 155 percentage points per year, which is a significant difference in performance. Reported Earnings • Oct 01
Full year 2021 earnings released: AU$0.03 loss per share (vs AU$0.002 loss in FY 2020) Full year 2021 results: Net loss: AU$25.9m (loss widened AU$24.3m from FY 2020). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 36% per year, which means it is well ahead of earnings. Reported Earnings • Mar 19
First half 2021 earnings released: AU$0.01 loss per share (vs AU$0.001 loss in 1H 2020) First half 2021 results: Net loss: AU$7.55m (loss widened AU$6.60m from 1H 2020). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 01
Full year earnings released - AU$0.0021 loss per share Over the last 12 months the company has reported total losses of AU$1.62m, with losses narrowing by 77% from the prior year. 