New Risk • Jun 26
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 Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 28% per year over the past 5 years. Revenue is less than US$1m (AU$20k revenue, or US$14k). Minor Risks Shareholders have been diluted in the past year (25% increase in shares outstanding). Market cap is less than US$100m (AU$17.5m market cap, or US$12.1m). Board Change • May 20
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. Non-Executive Director Dave Chapman was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • May 01
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. Non-Executive Director Dave Chapman was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Mar 05
Taruga Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 1.5 million. Taruga Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 1.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 90,000,000
Price\Range: AUD 0.01
Discount Per Security: AUD 0.0006
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 60,000,000
Price\Range: AUD 0.01
Discount Per Security: AUD 0.0002
Transaction Features: Subsequent Direct Listing Board Change • Dec 24
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. Non-Executive Director Dave Chapman was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Dec 16
Taruga Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.5 million. Taruga Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 90,000,000
Price\Range: AUD 0.01
Discount Per Security: AUD 0.0006
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 60,000,000
Price\Range: AUD 0.01
Discount Per Security: AUD 0.0002
Transaction Features: Subsequent Direct Listing Tillkännagivande • Sep 11
Taruga Minerals Limited, Annual General Meeting, Nov 28, 2025 Taruga Minerals Limited, Annual General Meeting, Nov 28, 2025. Tillkännagivande • May 01
Taruga Minerals Limited (ASX:TAR) has exercised its option to acquire Thowagee Project of Western Silver Pty Ltd for AUD 0.09 million. Taruga Minerals Limited (ASX:TAR) has exercised its option to acquire Thowagee Project of Western Silver Pty Ltd for AUD 0.09 million on May 1, 2025. The consideration consists of common equity of Taruga Minerals Limited having a value of AUD 0.09 million to be issued for assets of Thowagee Project of Western Silver Pty Ltd. As part of consideration, AUD 0.09 million is paid towards assets of Thowagee Project of Western Silver Pty Ltd. Tillkännagivande • Mar 27
Taruga Minerals Limited Commences Exploration at Thowagee Gascoyne WA Taruga has commenced initial exploration activities to understand the mineralisation and potential on the Thowagee Project, a part of the Northern Gascoyne licence application package. Taruga's initial field reconnaissance has identified several historical workings that extend further than historical reporting suggested. Ongoing activities are focussed on a review of the Thowagee workings, including sampling the mineralisation and rock types to verify historically reported grades. Adjacent to the Thowagee mine a focus is on identifying and sampling gossans, their location and extent which is only noted in historical reporting without further details. Other activities include the use of geophysical datasets and in field mapping to trace out the host shear extents and mineralisation potential. Available data sets include radiometrics, VTEM, magnetics, mapped outcrop geology and interpreted bedrock maps. This exploration program is part of Taruga's executed Option Agreement with Western Silver Pty Ltd, providing the right to acquire 100% of E 08/3245 (Thowagee) by paying $15,000 (paid) for an exclusive 6-month option and with the right to exercise the option and acquire 100% of Thowagee by issuing Taruga shares to the value of $85,000 (based on the 14-day VWAP prior to Settlement). Thowagee compliments Taruga's three adjacent exploration licence applications whilst providing a granted licence with significant historical workings in which to launch broader exploration investigations. Historical exploration had a focus on base and precious metals (but no drilling) and uranium. Thowagee - Historical Workings: The Thowagee Pb-Ag-(Zn-Cu) mine has been described as two lines of narrow lenticular quartz veins occurring in mica chlorite schist of the Morrissey Metamorphic Suite (Leake Springs Metamorphics), within a broader area of the Moorarie Supersuite granitoid rocks. At Thowagee mine, one shear/vein trends north-northeast and the other north-northwest, having been worked in various pits and trenches. A total of 15.2 t of lead and 5,878.4 g of silver were reported to have been extracted from these veins in 1956. Sampling of the Thowagee mineralisation shows a polymetallic assemblage including significant elevations in economic precious and base metals including lead, zinc, gold, silver and copper. Initial reconnaissance has confirmed numerous historical workings extending further than expected from historical reporting along the two distinct mineralised trends with historical workings extending over 200m along each north-northeast and north-northwest trend. Further south the Thowagee Bore (MINDEX Site Code S0024122) is reported to be galena dominant and include lead, silver, copper and zinc. The location and historical production has not been verified. Board Change • Dec 24
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 Chairman Paul Cronin was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Tillkännagivande • Oct 28
Taruga Minerals Limited has announced a Derivatives Offering in the amount of AUD 0.176507 million. Taruga Minerals Limited has announced a Derivatives Offering in the amount of AUD 0.176507 million.
Security Name: Loyalty Options
Security Type: Equity Option
Securities Offered: 176,506,696
Price\Range: AUD 0.001
Transaction Features: Rights Offering Tillkännagivande • Oct 21
Taruga Minerals Limited Announces Board Changes Taruga Minerals Limited effective October 21, 2024, Mr. Paul Cronin has accepted the appointment to transition from Non-Executive Director to Non-Executive Chairman of the Company. Mr. Cronin is the Co-founder and former Managing Director of Adriatic Metals PLC, which he led from incorporation in 2017 to a current $1bn plus market capitalisation, as a polymetallic miner with operations in Bosnia & Herzegovina and Serbia. Mr. Cronin has over 20 years of experience in corporate finance, investment banking, funds management, and commodity trading. Mr. Cronin was Vice President of RMB Resources, the resource investment arm of First Rand Bank, and has a B.Com and MBA from the Queensland University of Technology. Mr. Gary Steinepreis, who has been with the Company since 2016, has advised of his intention not to seek re-election as a director at Taruga's upcoming Annual General Meeting. Reported Earnings • Oct 02
Full year 2024 earnings released: AU$0.015 loss per share (vs AU$0.001 loss in FY 2023) Full year 2024 results: AU$0.015 loss per share (further deteriorated from AU$0.001 loss in FY 2023). Net loss: AU$10.3m (loss widened AU$9.33m from FY 2023). Over the last 3 years on average, earnings per share has fallen by 45% per year whereas the company’s share price has fallen by 41% per year. New Risk • Oct 02
New major risk - Revenue and earnings growth Earnings have declined by 24% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. 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$890k free cash flow). Earnings have declined by 24% per year over the past 5 years. Revenue is less than US$1m (AU$83k revenue, or US$57k). Market cap is less than US$10m (AU$7.06m market cap, or US$4.86m). New Risk • Oct 01
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 Revenue is less than US$1m (AU$74k revenue, or US$52k). Market cap is less than US$10m (AU$7.06m market cap, or US$4.89m). Minor Risk Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Tillkännagivande • Sep 21
Taruga Minerals Limited, Annual General Meeting, Nov 22, 2024 Taruga Minerals Limited, Annual General Meeting, Nov 22, 2024. Board Change • Apr 18
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Director Dave Chapman was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 20
First half 2024 earnings released: EPS: AU$0 (vs AU$0.001 loss in 1H 2023) First half 2024 results: EPS: AU$0 (improved from AU$0.001 loss in 1H 2023). Net loss: AU$380.8k (loss narrowed 44% from 1H 2023). Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 49% per year, which means it is significantly lagging earnings. Board Change • Feb 23
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 David Chapman was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 29
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 David Chapman was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 01
Full year 2023 earnings released: AU$0.001 loss per share (vs AU$0.003 loss in FY 2022) Full year 2023 results: AU$0.001 loss per share (improved from AU$0.003 loss in FY 2022). Net loss: AU$964.2k (loss narrowed 27% from FY 2022). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 47% per year, which means it is significantly lagging earnings. Tillkännagivande • Sep 26
Taruga Minerals Limited, Annual General Meeting, Nov 29, 2023 Taruga Minerals Limited, Annual General Meeting, Nov 29, 2023, at 10:01 W. Australia Standard Time. Location: Ascent Capital, Level 1, 33 Ord Street West Perth Western Australia Australia Reported Earnings • Mar 16
First half 2023 earnings released: AU$0.001 loss per share (vs AU$0.001 loss in 1H 2022) First half 2023 results: AU$0.001 loss per share (in line with 1H 2022). Net loss: AU$677.6k (loss widened 77% from 1H 2022). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Feb 15
Taruga Minerals Limited Announces Resignation of Thomas Line as CEO Thomas Line, Taruga's CEO, has tendered his resignation. Thomas will work out his 3 month notice period focusing on the key strategic priorities being Flinders and the REE metallurgical testwork at Mt Craig. Board Change • Nov 17
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 David Chapman was the last director to join the board, commencing their role in 2021. 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$0.002 loss per share (vs AU$0.004 loss in FY 2021) Full year 2022 results: AU$0.002 loss per share (improved from AU$0.004 loss in FY 2021). Net loss: AU$1.32m (loss narrowed 33% from FY 2021). 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 1% per year, which means it is significantly lagging earnings. Buying Opportunity • May 07
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 57%. The fair value is estimated to be AU$0.021, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 102%. 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. 4 non-independent directors. Non-Executive Director David Chapman was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 30
Full year 2021 earnings released: AU$0.004 loss per share (vs AU$0.006 loss in FY 2020) Full year 2021 results: Net loss: AU$1.96m (loss widened 30% from FY 2020). Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Jun 17
Non-Executive Director recently bought AU$60k worth of stock On the 10th of June, Paul Cronin bought around 1m shares on-market at roughly AU$0.06 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$127k more in shares than they have sold in the last 12 months. Executive Departure • Mar 30
Non-Executive Director has left the company On the 23rd of March, Mark Gasson's tenure as Non-Executive Director ended after 3.1 years in the role. As of December 2020, Mark personally held 17.00m shares (AU$901k worth at the time). A total of 4 executives have left over the last 12 months. Executive Departure • Mar 23
Non-Executive Director has left the company On the 22nd of March, Mark Gasson's tenure as Non-Executive Director ended after 3.1 years in the role. As of December 2020, Mark personally held 17.00m shares (AU$901k worth at the time). A total of 4 executives have left over the last 12 months. Reported Earnings • Sep 30
Full year earnings released - AU$0.0062 loss per share Over the last 12 months the company has reported total losses of AU$1.51m, with losses narrowing by 48% from the prior year. 
