New Risk • Aug 10
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 13% 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 Earnings have declined by 16% per year over the past 5 years. Shareholders have been substantially diluted in the past year (52% increase in shares outstanding). Revenue is less than US$1m (US$15k revenue). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (AU$52.9m market cap, or US$37.4m). Tillkännagivande • Aug 01
Flagship Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 2.7 million. Flagship Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 2.7 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 7,000,000
Price\Range: AUD 0.25
Discount Per Security: AUD 0.015
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 3,000,000
Price\Range: AUD 0.25
Discount Per Security: AUD 0.015
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 800,000
Price\Range: AUD 0.25
Discount Per Security: AUD 0.015
Transaction Features: Subsequent Direct Listing Tillkännagivande • Jun 19
Flagship Minerals Limited (ASX:FLG) entered into a binding Option Agreement to acquire Whipsaw Copper Project in British Columbia from Mr Kerry Martin and Davcha Pty Ltd for AUD 6.5 million. Flagship Minerals Limited (ASX:FLG) entered into a binding Option Agreement to acquire Whipsaw Copper Project in British Columbia from Mr Kerry Martin and Davcha Pty Ltd for AUD 6.5 million on June 17, 2026. The total option fee payable is AUD 6.5 million, including the above AUD 0.35 million in HOA and Option Agreement fees paid on the 14th of April and 17th of June respectively, and the AUD 0.5 million payable in shares. The remaining AUD 5.65 million is payable over the following 24 months in near equal semi-annual payments, with AUD 3.65 million payable in cash and AUD 2.0 million payable in Flagship shares or the shares in the Company that lists on the ASX should that path be chosen and approved by shareholders and meet regulatory requirements. Upon payment of the remaining AUD 5.65 million, 100% of the Whipsaw Copper Project. Tillkännagivande • May 20
Flagship Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 2.915 million. Flagship Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 2.915 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 7,000,000
Price\Range: AUD 0.25
Discount Per Security: AUD 0.015
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 3,000,000
Price\Range: AUD 0.25
Discount Per Security: AUD 0.015
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,660,000
Price\Range: AUD 0.25
Discount Per Security: AUD 0.015
Transaction Features: Subsequent Direct Listing 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. 5 non-independent directors. Non-Executive Director John Zhang was the last director to join the board, commencing their role in 2026. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • May 06
Flagship Minerals Limited, Annual General Meeting, May 29, 2026 Flagship Minerals Limited, Annual General Meeting, May 29, 2026. Location: the commons, level m, 388 george street, sydney nsw 2000 Australia 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. 5 non-independent directors. Non-Executive Director John Zhang was the last director to join the board, commencing their role in 2026. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • Jan 02
Xinhai Nominates Zhongyi (John) Zhang, as Key Representative to Represent on Flagship's Board of Directors, Formal Appointment Effective Later January, 2026 Flagship Minerals Limited announced that along with this approval, Xinhai has nominated Zhongyi (John) Zhang, a key representative and one of Xinhai's major shareholders, to represent it on Flagship's Board of Directors, with formal appointment to take place later in January, 2026. Mr. Zhang will bring a range of expertise to Flagship, which will facilitate an accelerated feasibility program during 2026. Mr. Zhang has a Bachelor and Master degree of Mathematics from the University of Oxford and is an Industry MBA Mentor at the University of International Business and Economics in China. Mr. Zhang's has substantial experience in mining and processing technologies, EPC, and investment, and has played a key role in developing Xinhai's services business in 102 countries and Xinhai's resources business in 7 countries. The Xinhai due diligence delegation of five was led by Qingmin Wang, Vice President and Mineral Processing Engineer. The visit began with a visit to Flagship's core shed located in Copiapo, followed by a field trip to the Pantanillo Gold Project and surrounding areas to consider the geology, topography, access and infrastructure. These considerations were key in Xinhai's final investment committee approval. In addition to Mr. Wang, Xinhai's representatives included Qingbao Ma, Director of Xinhai's Geological Exploration Department and Geological Engineer; Ruiqing Gong, Director of Xinhai's Mining Engineering Department and Mining Engineer; Zhenhua Gao, Deputy Director of Xinhai's Engineering Office and Plot Plan Engineer; and Haoyu Li, Project Manager. 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. 4 non-independent directors. Non-Executive Director Frank Chanyapoon was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • Oct 03
Flagship Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 4 million. Flagship Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 4 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 15,000,000
Price\Range: AUD 0.1
Discount Per Security: AUD 0.006
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 25,000,000
Price\Range: AUD 0.1
Discount Per Security: AUD 0.006
Transaction Features: Subsequent Direct Listing Tillkännagivande • Jun 30
Flagship Minerals Limited, Annual General Meeting, Jul 23, 2025 Flagship Minerals Limited, Annual General Meeting, Jul 23, 2025. Location: the commons, level m, 388 george street, sydney nsw 2000 Australia Tillkännagivande • May 30
Flagship Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.249449 million. Flagship Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.249449 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 20,824,156
Price\Range: AUD 0.06
Discount Per Security: AUD 0.0036
Transaction Features: Subsequent Direct Listing Tillkännagivande • Aug 23
Pan Asia Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 0.761 million. Pan Asia Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 0.761 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 7,097,222
Price\Range: AUD 0.072
Discount Per Security: AUD 0.00432
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 3,472,222
Price\Range: AUD 0.072
Transaction Features: Subsequent Direct Listing New Risk • Jul 17
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.2m (US$9.55m) 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 Shares are highly illiquid. Earnings have declined by 36% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$14.2m market cap, or US$9.55m). Minor Risk Shareholders have been diluted in the past year (18% increase in shares outstanding). Board Change • Jul 09
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. 4 experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Tillkännagivande • Jun 28
Pan Asia Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 0.2 million. Pan Asia Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 0.2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,538,462
Price\Range: AUD 0.13
Discount Per Security: AUD 0.00195
Transaction Features: Subsequent Direct Listing Tillkännagivande • May 16
Pan Asia Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.215 million. Pan Asia Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.215 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 8,076,924
Price\Range: AUD 0.13
Discount Per Security: AUD 0.0078
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,269,230
Price\Range: AUD 0.13
Discount Per Security: AUD 0.0078
Transaction Features: Subsequent Direct Listing Tillkännagivande • Apr 11
Pan Asia Metals Limited, Annual General Meeting, May 06, 2024 Pan Asia Metals Limited, Annual General Meeting, May 06, 2024, at 16:00 E. Australia Standard Time. Location: Sir Warwick Fairfax Room, Radisson Blu Plaza Hotel, 27 O'Connell Street Sydney Nsw 2000 Australia Agenda: To receive and consider the Annual Report of the Company and its controlled entities for the financial year ended 31 December 2023 which includes the Financial Report and the Directors' and Independent Auditor's Reports; to re-elect Mr. David Docherty; to re-appoint auditor; to ratify director's emoluments for 2023; to approve issue of convertible note to Mr. Thanasak Chanyapoon; to issue new shares; and to consider and approve other matters of business. Tillkännagivande • Mar 29
Pan Asia Metals Limited announced that it expects to receive AUD 0.894619 million in funding Pan Asia Metals Limited announced a private placement of unsecured convertible notes for the gross proceeds of AUD 894,619 on March 28, 2024. The notes will have a coupon rate of 16% and will be convertible at a conversion price of AUD 0.15 per share.
On the same day, the company announced that it has issued convertible note for the gross proceeds of AUD 852,219 in its first tranche closing. Tillkännagivande • Jul 29
Pan Asia Metals Limited (ASX:PAM) entered into binding Memorandums of Understanding to acquire a portion of the Pink Li Project and the Hilix Li Project from Thomas Eggers for $4.6 million. Pan Asia Metals Limited (ASX:PAM) entered into binding memorandums of understanding to acquire a portion of the Pink Li Project and the Hilix Li Project from Thomas Eggers for $4.6 million on July 28, 2023. As per the memorandums of understanding, Pan Asia Metals will pay $0.11 million on signing to Thomas Eggers with due diligence to be completed by September 30, 2023. Pan Asia Metals will pay exclusivity payment of $0.01 million, at end of first year will pay $0.05 million, at end of second year will pay $0.15 million, at end of year third will pay $0.3 million, at end of fourth year will pay $1 million, will pay for exploitation permit $3 million. Tillkännagivande • Jun 05
Pan Asia Metals Limited, Annual General Meeting, Jun 28, 2023 Pan Asia Metals Limited, Annual General Meeting, Jun 28, 2023, at 16:30 E. Australia Standard Time. Location: Sir Warwick Fairfax Room 27 O'Connell Street Sydney NSW 2000 Sydney Nsw 2000 New South Wales Australia Agenda: To receive and consider the Annual Report of the Company and its controlled entities for the financial year ended 31 December 2022 which includes the Financial Report and the Directors' and Independent Auditor's Reports; to consider RE-ELECTION OF MR. DAVID HOBBY; to consider RE-ELECTION OF MR. THANASAK CHANYAPOON; to consider RATIFICATION OF DIRECTORS' EMOLUMENTS FOR 2022; to consider RE-APPOINTMENT OF AUDITOR; to consider RATIFICATION OF PRIOR ISSUE (LR 7.1) | CAPITAL RAISE; to consider RATIFICATION OF PRIOR ISSUE (LR 7.1) | CAPITAL RAISE; to consider RATIFICATION OF PRIOR ISSUE (LR 7.1) | GOLDEN DRAGON CAPITAL; to consider AUTHORITY TO ALLOT AND ISSUE SHARES;and to consider ISSUE OF NEW SHARES | DAVID DOCHERT. Tillkännagivande • Feb 17
Pan Asia Metals Limited Announces Company Secretary Changes Pan Asia Metals Limited announced the appointment of Ms. Elissa Hansen as Australian Company Secretary following the resignation of Mr. Wayne Kernaghan as Australian Company Secretary. Elissa is a Chartered Secretary with over 20 years' of experience and brings best practice governanceadvice, ensuring compliance with the Listing Rules and other relevant legislation. She is a Fellow of the Governance Institute of Australia, a Graduate Member of the Australian Institute of Company Directors and has a Bachelor of Commerce and a Graduate Diploma in Applied Corporate Governance. Elissa's appointment is effective immediately. Tillkännagivande • Jan 19
Pan Asia Metals Limited Announces Reung Kiet Lithium Project Metallurgical Test-Work Results Pan Asia Metals Limited provided initial metallurgical testwork results for flotation recovery of lithium mica concentrates using representative sample from the Reung Kiet lithium prospect. The Reung Kiet Lithium Project (RKLP) is one of PAM's key assets. RKLP is a hard rock lithium project with lithium hosted in lepidolite/mica rich pegmatites chiefly composed of quartz, albite, lepidolite and muscovite, with minor cassiterite and tantalite as well as other accessory minerals. Previous open pit mining extracting tin from the weathered pegmatites was conducted into the early 1970's. PAM's objective has been to continue drilling with the aim of increasing and upgrading the existing Mineral Resource, which will then be used as part of a Pre-Feasibility Study that will consider various options to determine the technical and economic viability of the project including the LCE production profile as well as associated by-products. PAM is focusing on lepidolite as a source of lithium as peer group studies indicate that lithium carbonate and lithium hydroxide projects using lepidolite as their plant feedstock have the potential to be placed near the bottom of the cost curve. Lepidolite has also been demonstrated to have a lower carbon emission intensity than other lithium sources. The RK Prospect was a relatively large open cut tin mine. The old pit is about 500m long and up to 125m wide. Mining of the weathered pegmatites extended up to 30m below surface, to the top of hard rock. Pan Asia has identified a prospective zone at least 1km long, reporting an Inferred Mineral Resource estimate. The Mineral Resource is based upon the first 46 holes drilled at Reung Kiet. Ongoing drilling has seen the completion of an additional 54 holes, most of which will be included in the Mineral Resource update which aims to increase the Mineral Resource tonnage and upgrade portions of the Mineral Resource from Inferred to Indicated and possibly Measured classification. The testwork was conducted on two separate composites comprised of fresh and weathered mineralisation derived from laboratory `coarse crush rejects' (100% <3.35mm) from ½ HQ sized drill core selected from drillholes (orange drill collars). The fresh composite sample weighed approximately 125kg and was derived from 278 individual samples from 16 holes. This sample returned a head assay of 0.62% Li2O. The oxide composite weighed approximately 100kg, derived from 133 individual samples from 11 holes. It returned a head assay of 0.77% Li2O. The samples were selected to represent mineralisation throughout the deposit and reflect what are considered to be mineable widths in a potential open cut mine. Therefore, the samples contain both internal and external dilution predominantly composed of low-grade siltstone. The samples were delivered to the technology division of Beijing General Research Institute of Mining & Metallurgy (BGRIMM) in China. BGRIMM has particular experience and expertise regarding metallurgical aspects of lithium mica `lepidolite' deposits in China. The testwork was overseen by Dr. Evan Kirby of Metallurgical Management Services, a metallurgist with over 45 years experience in minerals testing and feasibility work, including several assignments with BGRIMM. China is the only jurisdiction where lithium chemicals are being commercially produced from lepidolite `ores'. The Hard Rock LCE Cost Curve below uses data compiled by Wood Mackenzie (Asia Pacific) Pte. Ltd. (WM) for Tianqi Lithium Corporation. It demonstrates the cost competitiveness of lepidolite as a source of LCE and that China produced approximately 50,000t of LCE from lepidolite in 2021, representing about 18% of global hard-rock LCE production. Benchmark Intelligence recently stated. BGRIMM carried out extensive process mineralogy and beneficiation research andtestwork on the samples provided by PAM. The research included ICP spectrometry, chemical composition analysis, mineral composition and relative content determination, characteristics and grain size of the main lithium minerals, study of the occurrence state of lithium, study on the association and separation characteristics of main lithium minerals in different grinding products, analysis of mineralogy factors influencing lithium recovery. Beneficiation research and testwork included acid-base process scheme comparisontests, flotation tests using different grind sizes, contrast tests for desliming and notdesliming, and different desliming quantities, type and amount of reagents/conditioning tests, type and amount of collector tests, flotation time tests, flotation tests for the regrinding fineness, tests for cleaning conditions, rougher concentrate screening analysis, classification and separation test for rougher concentrate, several open circuit process comparison tests and closed circuit tests. The technical means and instruments used in this study included chemical analysis, optical microscopy, scanning electron microscopy, electron micro-probe analysis, Advanced Mineral Identification and Characterization System (AMICS) and other applicable measures. Board Change • Dec 29
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. 4 non-independent directors. Independent Non-Executive Director Supriya Sen was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Nov 16
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. 4 non-independent directors. Independent Non-Executive Director Supriya Sen was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 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. 6 non-independent directors. Non-Executive Director Roger Jackson 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. 
