New Risk • Jun 01
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 15% 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 High level of non-cash earnings (42% accrual ratio). Revenue is less than US$1m (AU$311k revenue, or US$223k). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (AU$58.3m market cap, or US$41.8m). Tillkännagivande • Jan 07
QGold Pty Ltd cancelled the acquisition of remaining 73.60% stake in Venus Metals Corporation Limited (ASX:VMC) from Helmsmen Limited, Harvest Lane Asset Management Pty Ltd and others. QGold Pty Ltd proposed to acquire remaining 73.60% stake in Venus Metals Corporation Limited (ASX:VMC) from Helmsmen Limited, Harvest Lane Asset Management Pty Ltd and others for approximately AUD 24.5 million on November 24, 2025. A cash consideration valued at AUD 0.17 per share will be paid by QGold Pty Ltd. The Offer price of AUD 0.17 per share represents a Nil Premium to the last closing price of Venus shares, and implies a value of AUD 33.34 million for Venus Metals Corporation Limited. As at the date of this Bidder’s Statement, the Bidder and its Associates have a relevant interest in 51,787,196 Venus Metals Corporation Limited Shares. The Bidder and its Associates’ voting power in Venus Metals Corporation Limited is approximately 26.40% because of their relevant interest in Venus Metals Corporation Limited Shares. The Bidder hereby offers to acquire all Venus Metals Corporation Limited Shares together with rights attaching to them for consideration of $0.17 cash per Venus Metals Corporation Limited Share, on the terms and conditions set out in this Offer. While the Offer is for all Venus Metals Corporation Limited Shares, if a Venus Metals Corporation Limited Shareholder wishes to sell some (and not all) of their Venus Metals Corporation Limited Shares, the Venus Metals Corporation Limited Shareholder is permitted to do so. Shareholders are advised to take no action in relation to the Offer until they receive the Venus directors’ formal recommendation. The Offer will close at the end of trading on January 16, 2026 unless withdrawn or extended. The Bidder has received a chartered accountant’s certificate from Harris Black Chartered Accountants in respect of the Lender (Certificate) confirming the Lender’s ability to fulfil its commitments under the Funding Arrangement. In the Certificate, the Harris Black Chartered Accountants has confirmed that the Lender has access to an amount that is materially in excess to the Total Aggregate Amount (being, $28.87 million plus transaction costs) in immediately available funds. As of December 11, 2025, Venus Metals Corporation Limited board unanimously recommend to reject the Offer and take no action.
Jeremy Leibler of Arnold Bloch Leibler acted as legal advisor for QGold Pty Ltd. Gilbert + Tobin acted as legal advisor to Venus Metals Corporation Limited.
QGold Pty Ltd cancelled the acquisition of remaining 73.60% stake in Venus Metals Corporation Limited (ASX:VMC) from Helmsmen Limited, Harvest Lane Asset Management Pty Ltd and others on January 6, 2026. As of January 6, 2026, Venus Metals Corporation Limited board unanimously recommend to reject the Offer and take no action. Tillkännagivande • Nov 25
QGold Pty Ltd proposed to acquire remaining 73.60% stake in Venus Metals Corporation Limited (ASX:VMC) from Helmsmen Limited and others for approximately AUD 24.5 million. QGold Pty Ltd proposed to acquire remaining 73.60% stake in Venus Metals Corporation Limited (ASX:VMC) from Helmsmen Limited and others for approximately AUD 24.5 million on November 24, 2025. A cash consideration valued at AUD 0.17 per share will be paid by QGold Pty Ltd. The Offer price of AUD 0.17 per share represents a Nil Premium to the last closing price of Venus shares, and implies a value of AUD 33.34 million for Venus Metals Corporation Limited. As at the date of this Bidder’s Statement, the Bidder and its Associates have a relevant interest in 51,787,196 Venus Metals Corporation Limited Shares. The Bidder and its Associates’ voting power in Venus Metals Corporation Limited is approximately 26.40% because of their relevant interest in Venus Metals Corporation Limited Shares. The Bidder hereby offers to acquire all Venus Metals Corporation Limited Shares together with rights attaching to them for consideration of $0.17 cash per Venus Metals Corporation Limited Share, on the terms and conditions set out in this Offer. While the Offer is for all Venus Metals Corporation Limited Shares, if a Venus Metals Corporation Limited Shareholder wishes to sell some (and not all) of their Venus Metals Corporation Limited Shares, the Venus Metals Corporation Limited Shareholder is permitted to do so. Shareholders are advised to take no action in relation to the Offer until they receive the Venus directors’ formal recommendation. The Offer will close at the end of trading (4:00pm, Sydney time) on January 16, 2026 unless withdrawn or extended.
Jeremy Leibler of Arnold Bloch Leibler acted as legal advisor for QGold Pty Ltd. Gilbert + Tobin acted as legal advisor to Venus Metals Corporation Limited. Tillkännagivande • Oct 10
Venus Metals Corporation Limited, Annual General Meeting, Nov 28, 2025 Venus Metals Corporation Limited, Annual General Meeting, Nov 28, 2025. Board Change • Aug 18
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 Chairman of the Board Peter Hawkins 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 • Mar 25
Venus Metals Corporation Limited Provides Sandstone Gold Exploration Update Venus Metals Corporation Limited announced that the Company has completed field work involving mapping, rock chip sampling and preparation for an upcoming reverse circulation (RC) drilling programme and bottle-roll analysis. The Bellchambers gold deposit, owned 90% by Venus comprises a gold deposit totaling 722,000 t @ 1.31 g/t Au (30,500 ounces) located within E57/984, approximately 70 kilometres northeast of the Youanmi Gold Project, being progressed by Rox Resources. Highlights: Encouraging initial results from bottle-roll analysis of composite samples from previous VMC drilling. Results ranged from 86.3 to 92.0% recovery for the oxide samples, 81.9 to 95.6% for the transition and 75 to 90.1% for the fresh samples. Collection of 51 rock chip samples, mapping of the potential strike extensions of Bellchambers. The rock chip sampling returned 5 samples above 0.5 g/t Au with a maximum value of 2.19 g/t Au and highlighted several areas considered prospective for the identification of additional gold mineralisation. Anomalous gold mineralisation identified 1.5 kilometres northeast of the Bellchambers deposit and south - south east of Bellchambers previously described as Georgina-Rainbow trend highlighting the additional potential in this area. Additional work will be focused on understanding the controls on the gold mineralisation and further mapping to identify new target areas. A total of 14-16 reverse circulation holes in and around the Bellchambers deposit is planned to convert inferred and indicated mineralisation to a higher category an additional 26 exploration holes within the tenement area are planned to test for additional gold mineralisation outside of the existing gold resource. The RC drill program of approximately 2000 metres planned for late April is expected to take 2 weeks to complete with assays results due in the following month. Project Background The Sandstone Gold Project lies within tenement E57/984 (125 km2; 90% VMC). The Bellchambers mining area, is located about 23 km southwest of the town of Sandstone and is 70km by road northeast from the Youanmi Gold Project being developed by Rox Resources Ltd. Historical reported gold production from Bellchambers is 3,688 ounces of gold from 5,620 tonnes of ore at an average grade of 21 g/t gold. Gold mineralisation at Bellchambers deposit and the adjacent Range View prospect, is hosted within a northeasterly trending and steeply dipping sequence of sheared sulphide-rich sediments and mafic rocks, interlayered with thin chert and Banded Iron Formation (BIF). The total Indicated and Inferred Resource for Bellchambers is reported at 0.5 gm/t Au and 1.0 gm/t Au cutoffs and is summarised below. An advanced gold prospect named Range View is located approximately 1.1 kilometres northeast and along strike of Bellchambers within a new mining lease application with previous VMC drill results including: BCRC120 11m @ 4.69 g/t Au from 12m Including 1m @ 38.92 g/t Au from 20m. BCRC122 8m @ 1.22 g/t Au from 30m Including 1m @ 4.48 g/t Au from 30m. This is an obvious exploration area along strike from Bellchambers, with clear potential to outline additional gold mineralisation within the mining lease application. A mine gate sale agreement between Venus and Rox Resources Ltd. provides a potential treatment option for the Bellchambers deposit. The samples from BCRC 106 and BCRC107 were compiled into 3 mineralised zones categorised as Oxide, Transition and Fresh and were submitted. Results ranged from 86.to 92.0% recovery for the oxide samples, 81.9 to 95.6% for the transition and 75 to 90.1% for the fresh samples. A large sample from the upcoming drill program will be collected and compiled for a comprehensive metallurgical test program to accurately understand likely recoveries of Bellchambers. Board Change • Feb 04
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. 2 experienced directors. 2 highly experienced directors. Independent Chairman of the Board Peter Hawkins was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Oct 10
Venus Metals Corporation Limited, Annual General Meeting, Nov 28, 2024 Venus Metals Corporation Limited, Annual General Meeting, Nov 28, 2024. Tillkännagivande • Oct 01
Venus Metals Corporation Limited has completed a Follow-on Equity Offering in the amount of AUD 0.416 million. Venus Metals Corporation Limited has completed a Follow-on Equity Offering in the amount of AUD 0.416 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 6,400,000
Price\Range: AUD 0.065
Transaction Features: Subsequent Direct Listing Tillkännagivande • Sep 28
Venus Metals Corporation Limited has filed a Follow-on Equity Offering in the amount of AUD 0.416 million. Venus Metals Corporation Limited has filed a Follow-on Equity Offering in the amount of AUD 0.416 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 6,400,000
Price\Range: AUD 0.065
Transaction Features: Subsequent Direct Listing Reported Earnings • Sep 25
Full year 2024 earnings released: EPS: AU$0.15 (vs AU$0.03 loss in FY 2023) Full year 2024 results: EPS: AU$0.15 (up from AU$0.03 loss in FY 2023). Net income: AU$29.5m (up AU$34.6m from FY 2023). Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Board Change • Sep 09
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. 2 experienced directors. 2 highly experienced directors. Independent Chairman of the Board Peter Hawkins was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Jun 05
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.4m (US$9.58m) 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. High level of non-cash earnings (1,667% accrual ratio). Revenue is less than US$1m (AU$50k revenue, or US$33k). Market cap is less than US$10m (AU$14.4m market cap, or US$9.58m). Minor Risk Shareholders have been diluted in the past year (4.7% increase in shares outstanding). Reported Earnings • Mar 15
First half 2024 earnings released: EPS: AU$0.17 (vs AU$0.019 loss in 1H 2023) First half 2024 results: EPS: AU$0.17 (up from AU$0.019 loss in 1H 2023). Net income: AU$32.4m (up AU$35.5m from 1H 2023). 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 19% per year, which means it is significantly lagging earnings. Board Change • Jan 19
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. 2 experienced directors. 2 highly experienced directors. Independent Chairman of the Board Peter Hawkins was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Sep 28
Venus Metals Corporation Limited, Annual General Meeting, Nov 16, 2023 Venus Metals Corporation Limited, Annual General Meeting, Nov 16, 2023, at 10:00 W. Australia Standard Time. Reported Earnings • Sep 28
Full year 2023 earnings released: AU$0.03 loss per share (vs AU$0.049 loss in FY 2022) Full year 2023 results: AU$0.03 loss per share (improved from AU$0.049 loss in FY 2022). Net loss: AU$5.15m (loss narrowed 30% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 43 percentage points per year, which is a significant difference in performance. Board Change • Sep 18
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. 2 experienced directors. 2 highly experienced directors. Independent Chairman of the Board Peter Hawkins was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Aug 03
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 35% per year over the past 5 years. Revenue is less than US$1m (AU$19k revenue, or US$12k). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (18% increase in shares outstanding). Significant insider selling over the past 3 months (AU$4.4m sold). Market cap is less than US$100m (AU$21.8m market cap, or US$14.3m). New Risk • Jul 10
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: AU$4.4m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 35% per year over the past 5 years. Revenue is less than US$1m (AU$19k revenue, or US$12k). Minor Risks Shareholders have been diluted in the past year (18% increase in shares outstanding). Significant insider selling over the past 3 months (AU$4.4m sold). Market cap is less than US$100m (AU$28.4m market cap, or US$19.0m). Tillkännagivande • May 25
Venus Metals Corporation Limited, Annual General Meeting, Jun 23, 2023 Venus Metals Corporation Limited, Annual General Meeting, Jun 23, 2023, at 09:30 W. Australia Standard Time. Location: Vibe Hotel Subiaco, 9 Alvan Street, Subiaco, Perth Western Australia 6008 Perth Australia Agenda: to consider the Approval for an equal capital reduction and in-specie distribution of Rox Consideration Shares; to consider the Issue of Shares to Mr Peter Hawkins; to approve the Issue of Shares to Mr Matthew Vernon Hogan and Miss Zoe Louise Hogan; to approve the Issue of Shares to Mr Selvakumar Arunachalam; to approve the Issue of Shares to Yafco Pty Ltd; to approve the Ratification of issue of Shares to St Clair; and to consider other matters if any. Reported Earnings • Mar 13
First half 2023 earnings released: AU$0.019 loss per share (vs AU$0.025 loss in 1H 2022) First half 2023 results: AU$0.019 loss per share (improved from AU$0.025 loss in 1H 2022). Net loss: AU$3.14m (loss narrowed 17% from 1H 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Tillkännagivande • Feb 16
Venus Metals Corporation Limited Announces the Start of RC Drilling Program Venus Metals Corporation Limited announce the start of a RC drilling program that will test recently identified lithium (Li) soil and rock chip anomalies for pegmatite-hosted lithium-caesium-tantalum (LCT) mineralization in the bedrock. Three east-northeast trending lithium (Li) anomalies in the northern part of E57/983 were delineated by a geochemical soil survey at a historical beryl occurrence reported in MINEDEX (S0017351). Rock chip samples from sub-cropping pegmatite nearby have up to 2.11% Li2O. The Manindi North Li prospect is located within the granite greenstone contact zone at the Youanmi greenstone belt that is considered prospective for LCT pegmatite mineralisation. Drilling will also test the interpreted down-dip extension of Li-bearing pegmatite at the Central Prospect. Board Change • Jan 10
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. 2 experienced directors. 2 highly experienced directors. Independent Chairman of the Board Peter Hawkins was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Nov 17
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. 2 experienced directors. 2 highly experienced directors. Independent Chairman of the Board Peter Hawkins was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 01
Full year 2022 earnings released: AU$0.049 loss per share (vs AU$0.02 loss in FY 2021) Full year 2022 results: AU$0.049 loss per share (further deteriorated from AU$0.02 loss in FY 2021). Net loss: AU$7.35m (loss widened 144% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Board Change • Sep 06
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. 2 experienced directors. 2 highly experienced directors. Independent Chairman of the Board Peter Hawkins was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Aug 02
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. 2 experienced directors. 2 highly experienced directors. Independent Chairman of the Board Peter Hawkins was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 01
Full year 2021 earnings released: AU$0.02 loss per share (vs AU$0.003 profit in FY 2020) Full year 2021 results: Net loss: AU$3.01m (down AU$3.47m from profit in FY 2020). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 11
First half 2021 earnings released: AU$0.007 loss per share (vs AU$0.013 loss in 1H 2020) First half 2021 results: Net loss: AU$1.13m (loss narrowed 27% from 1H 2020). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.