Board Change • May 20
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 Scott Huffadine was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • May 01
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 Scott Huffadine was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jan 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 Non-Executive Chairman Scott Huffadine was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • Nov 25
Kingfisher Mining Limited has completed a Follow-on Equity Offering in the amount of AUD 1.3343 million. Kingfisher Mining Limited has completed a Follow-on Equity Offering in the amount of AUD 1.3343 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 19,305,435
Price\Range: AUD 0.04
Discount Per Security: AUD 0.0024
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 14,052,066
Price\Range: AUD 0.04
Discount Per Security: AUD 0.0024
Security Features: Attached Options
Transaction Features: Rights Offering Tillkännagivande • Aug 27
Kingfisher Mining Limited, Annual General Meeting, Oct 13, 2025 Kingfisher Mining Limited, Annual General Meeting, Oct 13, 2025. Tillkännagivande • Aug 06
Kingfisher Mining Limited has completed a Follow-on Equity Offering in the amount of AUD 0.52 million. Kingfisher Mining Limited has completed a Follow-on Equity Offering in the amount of AUD 0.52 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 13,000,000
Price\Range: AUD 0.04
Discount Per Security: AUD 0.0024
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Tillkännagivande • Aug 22
Kingfisher Mining Limited, Annual General Meeting, Oct 17, 2024 Kingfisher Mining Limited, Annual General Meeting, Oct 17, 2024. Tillkännagivande • May 29
Kingfisher Mining Limited Announces Board and Management Changes Kingfisher Mining Limited advised Mr. James Farrell has tendered his resignation as Executive Director effective immediately with his last day with the Company being the 27 June 2024. Mr. Stephen Brockhurst will be appointed to the Board as Non-Executive Director. The Board would like to acknowledge Mr. Farrell's efforts in leading the Company since its IPO, with a number of new REE discoveries being made on the Company's Gascoyne tenure. Mr. Stephen Brockhurst currently holds the position of Company Secretary for Kingfisher Mining Limited. Mr. Brockhurst has over 20 years' experience in the finance and corporate advisory industry and has been responsible for a number of IPO's. Mr. Brockhurst is currently a director of Locksley Resources Limited and Company Secretary of several ASX listed companies. The Board will continue to oversee the Company's activities with the on ground exploration efforts capably led by the Company's Exploration Manager, Matthew Roach. Board Change • Apr 30
Insufficient new directors 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. Executive Director & CEO James Farrell was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Feb 06
Black Cat (Paulsens) Pty Ltd completed the acquisition of Five tenements in Ashburton Basin from Kingfisher Mining Limited (ASX:KFM). Black Cat (Paulsens) Pty Ltd entered into binding heads of agreement to acquire Five tenements in Ashburton Basin from Kingfisher Mining Limited (ASX:KFM) on December 4, 2023. The transaction is expected to close in January 2024.Black Cat (Paulsens) Pty Ltd completed the acquisition of Five tenements in Ashburton Basin from Kingfisher Mining Limited (ASX:KFM) on February 6, 2024. Board Change • Oct 11
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 Scott Huffadine was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Sep 29
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: -AU$3.2m 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 (-AU$3.2m free cash flow). Earnings have declined by 49% per year over the past 5 years. Revenue is less than US$1m (AU$67k revenue, or US$43k). Market cap is less than US$10m (AU$9.94m market cap, or US$6.38m). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (2.8% increase in shares outstanding). New Risk • Sep 25
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 Risks Earnings have declined by 49% per year over the past 5 years. Revenue is less than US$1m (AU$16k revenue, or US$10k). Market cap is less than US$10m (AU$9.94m market cap, or US$6.40m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (2.8% increase in shares outstanding). Tillkännagivande • Sep 19
Kingfisher Mining Limited, Annual General Meeting, Nov 13, 2023 Kingfisher Mining Limited, Annual General Meeting, Nov 13, 2023. Agenda: To consider the election of Directors. New Risk • Sep 09
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 Risks Earnings have declined by 49% per year over the past 5 years. Revenue is less than US$1m (AU$16k revenue, or US$10k). Market cap is less than US$10m (AU$10.7m market cap, or US$6.85m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (27% increase in shares outstanding). New Risk • Aug 08
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$12.9m (US$8.46m) 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 Earnings have declined by 49% per year over the past 5 years. Revenue is less than US$1m (AU$16k revenue, or US$11k). Market cap is less than US$10m (AU$12.9m market cap, or US$8.46m). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (27% increase in shares outstanding). New Risk • Jun 28
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 16% 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 Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 49% per year over the past 5 years. Revenue is less than US$1m (AU$16k revenue, or US$11k). Minor Risks Shareholders have been diluted in the past year (27% increase in shares outstanding). Market cap is less than US$100m (AU$18.0m market cap, or US$12.0m). Tillkännagivande • Feb 07
Kingfisher Mining Limited Announces the Drill Results from MW2 At its 100% Owned Projects in the Gascoyne Mineral Field in Western Australia Kingfisher Mining Limited announced the drill results from MW2 at its 100% owned projects in the Gascoyne Mineral Field in Western Australia. The results confirm the discovery of new high grade continuous REE mineralisation at MW2. MW2 Drilling Results: The latest drilling program at MW2 was designed to target REE mineralisation identified by the Company from its on- going surface mapping and sampling. The mineralisation targeted in the current program is located 500m northwest of Kingfisher's initial discovery drilling in the MW2 area, where previously reported high grade results have included 5m at 3.45% TREO, including 3m at 5.21% TREO as well as 12m at 1.12% TREO, with 4m at 1.84% TREO. The drilling at MW2 was completed in November and December 2022, with the program concluding with 37 drill holes for approximately 4,225m. All of the assay results from the latest drilling have now been received, with numerous significant results confirming the discovery of new high grade REE mineralisation at MW2. Significant results include: MWRC067: 5m at 2.63% TREO and 0.54% Nd2O3 + Pr6O11 from 124m, including 3m at 4.11% TREO and 0.85% Nd2O3 + Pr6O11 from 124m. The interval also Includes 1m at 6.70% TREO and 1.39% Nd2O3 + Pr6O11 from 125m. MWRC035: 4m at 3.24% TREO and 0.54% Nd2O3 + Pr6O11 from 46m. The interval also Includes 1m at 5.25% TREO and 0.84% Nd2O3 + Pr6O11 from 47m. MWRC068: 5m at 1.54% TREO and 0.30% Nd2O3 + Pr6O11 from 75m, including 1m at 4.42% TREO and 0.84% Nd2O3 + Pr6O11 from 77m. MWRC059: 4m at 1.90% TREO and 0.34% Nd2O3 + Pr6O11 from 65m, including 3m at 2.42% TREO and 0.43% Nd2O3 + Pr6O11 from 65m. MWRC033: 3m at 2.52% TREO and 0.41% Nd2O3 + Pr6O11 from 46m. The interval also Includes 1m at 5.38% TREO and 0.88% Nd2O3 + Pr6O11 from 46m. MWRC067: 6m at 0.98% TREO and 0.17% Nd2O3 + Pr6O11 from 89m, including 1m at 2.10% TREO and 0.36% Nd2O3 + Pr6O11 from 89m. MWRC049: 9m at 0.66% TREO and 0.11% Nd2O3 + Pr6O11 from 38m, including 1m at 2.22% TREO and 0.34% Nd2O3 + Pr6O11 from 44m. MWRC063: 8m at 0.56% TREO and 0.10% Nd2O3 + Pr6O11 from 32m, including 1m at 2.25% TREO and 0.41% Nd2O3 + Pr6O11 from 38m. MWRC041: 4m at 1.07% TREO and 0.17% Nd2O3 + Pr6O11 from 93m, including 1m at 2.03% TREO and 0.33% Nd2O3 + Pr6O11 from 94m. MWRC048: 5m at 0.83% TREO and 0.14% Nd2O3 + Pr6O11 from 104m. MWRC054: 6m at 0.62% TREO and 0.11% Nd2O3 + Pr6O11 from 88m. MWRC037: 4m at 0.93% TREO and 0.17% Nd2O3 + Pr6O11 from 36m. MWRC037: 5m at 0.74% TREO and 0.13% Nd2O3 + Pr6O11 from 69m, including 1m at 2.31% TREO and 0.4% Nd2O3 + Pr6O11 from 70m. MWRC056: 3m at 1.22% TREO and 0.20% Nd2O3 + Pr6O11 from 50m. MWRC034: 4m at 0.85% TREO and 0.15% Nd2O3 + Pr6O11 from 12m. MWRC062: 1m at 3.34% TREO and 0.71% Nd2O3 + Pr6O11 from 108m. MWRC039: 4m at 0.76% TREO and 0.13% Nd2O3 + Pr6O11 from 16m. MWRC060: 2m at 1.51% TREO and 0.30% Nd2O3 + Pr6O11 from 103m, including 1m at 2.73% TREO and 0.54% Nd2O3 + Pr6 O11 from 103m. The intersections from MW2 are comparable to results reported by Hastings Technology Metals from the Bald Hill deposit which makes up over half of the mineral resources of Hasting's world-class Yangibana Project. The MW2 mineralisation occurs in five separate lodes, with high REE grades distributed across the entire strike length of the mineralisation drilled in the current program. The high grade REE mineralisation outcrops at surface, with the deepest mineralisation so far being intersected at a vertical depth of approximately 115m. In addition, the highest grade mineralisation remains open along strike and at depth. The mineralisation also consists dominantly of monazite, an important host globally for the magnet REEs, neodymium and praseodymium and is also low in thorium, with thorium typically being less than 200ppm for the reported mineralisation intervals. The mineralisation occurs within very broad zones of well-developed fenite alteration, the alteration is specifically associated with the intrusion of carbonatites. The scale and intensity of the fenite alteration is highly encouraging from an exploration perspective, providing evidence of the presence of a large-scale mineral system within the Company's 54km long Chalba target corridor. The fenites also have highly anomalous REEs, with drill hole MWRC037 intersecting 62m at 0.29% TREO. MW2 On-going Exploration: The latest MW2 drilling program builds on the Company's developing geological understanding of the REE mineralisation at Mick Well and along the entire length of the Company's 54km Chalba REE mineralisation corridor. The mineralisation intersected in drilling at MW2 occurs dominantly as veins within faults and shears. The Company interprets the source of the vein mineralisation to be the intrusion of carbonatite pipes or plugs; an interpretation that is consistent with the carbonatite mineralisation exploration model. 2022 Gascoyne Exploration Program: Kingfisher carried out extensive and targeted exploration programs for its projects during 2022. The Company's exploration work is cost-effective and is aiming to develop and test drill targets from ground-based mapping and rock sampling. The Company is also simultaneously developing a pipeline of exploration opportunities at its Gascoyne REE projects through integrating tenement-scale airborne geophysical surveys with geological knowledge from the Company's breakthrough discovery at Mick Well. The geophysical survey from the 54km Chalba corridor is an important part of this generative work. Planning is well advanced for the Company's exploration activities for 2023 at its Gascoyne projects. It is envisaged the 2023 exploration activities will include drilling at MW2, MW7, MW8 as well as substantial project generation work at KF3 as well as the CH1 to CH10 targets along the 54km Chalba target corridor and the LK1 to LK7 targets along the 30km Lockier target corridor. The 2023 exploration activities are also likely to include airborne geophysics across the Mooloo project. The Company's exploration plans for 2023 will be announced shortly. Tillkännagivande • Jan 24
Kingfisher Mining Limited Receives New Rock Chip Results from the High Grade Ree Mineralisation Kingfisher Mining Limited announced that it has received new rock chip results from the high grade REE mineralisation discoveries at its 100% owned projects in the Gascoyne Mineral Field in Western Australia, further expanding the mineralisation strike at MW2 and MW7 and discovering further high grade mineralisation at the Kingfisher Prospect approximately 15km east of MW2. High grade REE mineralisation has been discovered at the new KF3 target, with a single sample consisting dominantly of monazite returning 32.16% TREO with 5.25% Nd2O3 + Pr6O11. The sample was collected as part of the Company's regional geological mapping and is associated with a distinct magnetic feature and a broad area of fenite alteration (the alteration associated with the intrusion of carbonatites) that extends over a strike of 5km and is more than 500m in width. Follow-up mapping focused on delineating the mineralisation will be completed as a high priority when fieldwork recommences this Quarter. On-going mapping at MW2 has led to the discovery of additional high grade outcropping monazite-rich mineralisation. The newly identified mineralisation lies along strike from the mineralisation in a 300m wide zone targeted by recent drilling, with the latest mapping extending the strike of the zone by 500m to be more than 2km. New high grade results from the strike extensions to MW2 include: Geological mapping has identified two additional monazite-bearing lodes at MW7, increasing the cumulative strike length of the outcrop at the target by 500m to more than 1500m. The latest results from rock chip sampling of the high grade mineralisation at MW7 include: 14.60% TREO with 2.41% Nd2O3 + Pr6O11 (MWGS1443), 12.10% TREO with 2.04% Nd2O3 + Pr6O11 (MWGS1445), 11.68% TREO with 1.83% Nd2O3 + Pr6O11 (MWGS1587), 9.59% TREO with 1.62% Nd2O3 + Pr6O11 (MWGS1448), 6.79% TREO with 1.14% Nd2O3 + Pr6O11 (MWGS1526), 5.66% TREO with 0.95% Nd2O3 + Pr6O11 (MWGS1585), 5.09% TREO with 0.95% Nd2O3 + Pr6O11 (MWGS1447), 2.81% TREO with 0.45% Nd2O3 + Pr6O11 (MWGS1586). MW7 is now drill ready, and design work is already underway for the maiden drilling program at the prospect which is expected to commence in mid-April 2023. The current mapping and rock chipping work is targeting a large number of laterally-extensive high priority targets in a broad area that extends 10km west-northwest from MW2 (Figure 3). The targets in this area are also associated withcarbonatite complexes as well as high thorium and magnetic responses - similar to what is seen from the newly identified outcropping mineralisation at MW2. Significantly, all of these targets within this 10km long area also lie within Kingfisher's target corridor, the Chalba Shear Zone, which extends for 54km across the Company's Gascoyne tenure. Tillkännagivande • Jan 19
Kingfisher Mining Limited Announces Large-Scale REE Targets Identified at Arthur River Kingfisher Mining Limited announced that it has received the results from its recent tenement-scale magnetics and radiometrics airborne geophysics surveys at its 100% owned Lockier shear projects in the Gascoyne Mineral Field in Western Australia. The latest results are from the Arthur River project area, which is located 30km southwest of Mick Well, where a significant amount of geophysical targets have also been identified and geological mapping has delineated strike lengths of more than 5km of outcropping high grade Rare Earth Elements (REE) mineralisation and where drilling has returned results of 5m at 3.45% TREO (Total Rare Earth Oxides), including 3m at 5.21% TREO at MW2. Airborne geophysics are highly effective tools for the identification of carbonatite intrusions and associated mineralisation. The carbonatite intrusion model has a central carbonatite pipe which is comprised of multiple phases of carbonatite intrusion that is surrounded by ring dykes which form around and radial dykes which radiate out from the central intrusion. The carbonatite exploration model envisages alteration of the host country rock into which the carbonatites intrude, with development of Sodic (Na) and Potassic (K) fenites around the intrusions which often hosts the REE mineralisation. Each part of the carbonatite system has characteristics which can be detected by geophysics, for example: Thorium associated with the REE mineralisation is apparent in the radiometrics. Potassium fenites, the alteration which forms around carbonatites intrusions, is also apparent in the radiometrics. Ferrocarbonatites have high iron content and can appear as magnetic highs in the geophysics. Aster can detect various minerals and elements, including carbonates, ferrous and ferric iron as well as alumina and magnesium and can assist with of carbonatites and associated alteration. The combination of these geophysical responses to the carbonatite geology make it a very powerful combination of tools for early stage targeting and project generation. Including the very large (approximately 9km) target area, there are seven large-scale high priority target areas that have been identified from the interpretation of the geophysics surveys, with each target selected from a combination of magnetic, potassium and thorium features. Tens of other smaller circular features have also been identified in the magnetic data; each of these high magnetic features, particularly where clustered or where co-located with high thorium responses are of interest to the Company for future project generation work. All of the prioritised targets cover a substantial area, with the smallest LK3 being more than 2.2km long and 1km wide. The largest target, LK1, is particularly significant, and is more than 9km long and more than 6.5km wide. LK1 is also comprised of multiple circular features which are defined by the magnetics and thorium, with the ring-shaped thorium feature having a diameter of 1.7km. High priority targets LK1, LK2, LK3, LK4 and LK7 have already been selected for surface mapping and sampling due to the presence of interpreted carbonates and circular or oval-shaped features which are indicative of intrusion pipes. The identification of the targets from geophysics is an important early part of the discovery process, with all of the targets to be ranked and included in the Company's project generation activities in 2023 and beyond. The targets identified from the recently completed geophysics surveys have extended the Company's target corridor along the Lockier Shear Zone by 12km to a total strike length of 30km. This builds significantly on the previously announced strike length of 18km at the Mooloo Project for the Lockier target corridor; a zone which is located approximately 20km south of the parallel Chalba target corridor. Gascoyne Exploration Program: Kingfisher carried out extensive and targeted exploration programs for its Gascoyne projects during 2022. The Company's exploration work is cost-effective and is aiming to develop and test drill targets from ground-based mapping and rock sampling. The Company is also simultaneously developing a pipeline of exploration opportunities through integrating tenement-scale airborne geophysical surveys with geological knowledge from the Company's breakthrough REE discovery at Mick Well. The geophysical survey from the 54km Chalba corridor is an important part of this generative work. Planning is well advanced for the Company's exploration activities for 2023 at its Gascoyne projects. It is envisaged the 2023 exploration activities will include drilling at MW2, MW7, MW8 as well as substantial project generation work at the CH1 to CH10 targets along the 54km Chalba target corridor and the LK1 to LK7 targets along the 30km Lockier target corridor. The 2023 exploration activities are also likely to include airborne geophysics across the Mooloo project. The Company's exploration plans for 2023 will be announced shortly. Tillkännagivande • Jan 11
Kingfisher Mining Limited Provides an Update on Gascoyne Mineral Field in Western Australia Kingfisher Mining Limited announced that it has received the results from its recent tenement-scale magnetics and radiometrics airborne geophysics surveys at its 100% owned projects in the Gascoyne Mineral Field in Western Australia. Numerous high-quality targets have been revealed across the survey area, which covered the Company's 54km target corridor. The survey adds another leg in discovery journey which has led to the identification of numerous additional potential carbonatite intrusions along the 54km Chalba mineralised corridor. This is an enormously encouraging early development in the project generation, expanding footprint beyond the Mick Well area, where the company made first breakthrough high grade REE discovery only 12 months ago. All of the selected targets have geophysical responses similar to Mick Well, where the company have so far identified more than 5km of outcropping high grade REE mineralisation strike, delineated by surface samples and drill results which includes 5m at 3.45% TREO. Airborne geophysics are highly effective tools for the identification of carbonatite intrusions and associated mineralisation. The carbonatite intrusion model has a central carbonatite pipe which is comprised of multiple phases of carbonatite intrusion that is surrounded by ring dykes which form around and radial dykes which radiate out from the central intrusion. The carbonatite exploration model envisages alteration of the host country rock into which the carbonatites intrude, with development of Sodic (Na) and Potassic (K) fenites around the intrusions which often hosts the REE mineralisation. Each part of the carbonatite system has characteristics which can be detected by geophysics, such as high iron content in ferrocarbonatites which is apparent in the magnetics or potassium fenite alteration and thorium associated with the mineralisation which are apparent in the radiometrics. The combination of these geophysical responses to the carbonatite geology make it a very powerful tool for early stage targeting and project generation. Ten high priority target areas have been identified from the interpretation of the geophysics surveys, with each target selected from a combination of magnetic, potassium and thorium features. The target areas are spaced along the entire length of the 54km Chalba target corridor and are large scale, ranging in size from 0.7km2 to 18km2. A significant new large-scale target has been delineated at Kingfisher South (C H1 0), where geological mapping has already confirmed the presence of ferrocarbonatite intrusions. The target includes a central area defined by a distinct circular magnetic feature with a diameter of approximately 2km which is surrounded by an area of high thorium and potassium which extends over a length of more than 6km along the Chalba target corridor. High priority targets C H2, CH5, CH6 and CH8 have already been selected for immediate surface mapping and sampling due to the presence of interpreted carbonates and circular or oval-shaped features which are indicative of intrusion pipes. The identification of the targets from geophysics is an important early part of the discovery process, with all of the targets to be ranked and included in the Company's project generation activities in 2023 and beyond. Kingfisher carried out extensive and targeted exploration programs for its Gascoyne projects during 2022. The Company's exploration work is cost-effective and is aiming to develop and test drill targets from ground-based mapping and rock sampling. The Company is also simultaneously developing a pipeline of exploration opportunities through integrating tenement-scale airborne geophysical surveys with geological knowledge from the Company's breakthrough REE discovery at Mick Well. The geophysical survey from the 54km Chalba corridor is an important part of this generative work. Planning is well advanced for the Company's exploration activities for 2023 at its Gascoyne projects. It is envisaged the 2023 exploration activities will include drilling at MW2, MW7, MW8 as well as substantial project generation work across the 54km target corridor, including the C H1 to CH 10 targets as well as the Arthur River and Mooloo projects. The 2023 exploration activities are also likely to include airborne geophysics across the Mooloo project. The Company's exploration plans for 2023 will be announced shortly. Board Change • Nov 23
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 Director Scott Huffadine was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
