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. 3 non-independent directors. Non-Executive Director Julian Stephens 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 • Feb 18
Viking Mines Limited has completed a Follow-on Equity Offering in the amount of AUD 4.495693 million. Viking Mines Limited has completed a Follow-on Equity Offering in the amount of AUD 4.495693 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 339,938,637
Price\Range: AUD 0.005
Discount Per Security: AUD 0.00035
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 559,200,001
Price\Range: AUD 0.005
Discount Per Security: AUD 0.00035
Transaction Features: Subsequent Direct Listing Tillkännagivande • Dec 17
Viking Mines Limited (ASX:VKA) entered into a binding terms sheet to acquire Six tungsten projects located in the Tier 1 jurisdiction of Nevada from BLK Group LLC for $2.3 million. Viking Mines Limited (ASX:VKA) entered into a binding terms sheet to acquire Six tungsten projects located in the Tier 1 jurisdiction of Nevada from BLK Group LLC for $2.3 million on December 16, 2025. The transaction will be financed through private placement of $4.3 million. The transaction is subject to approval by regulatory board / committee and consummation of due diligence investigation. Tillkännagivande • Dec 16
Viking Mines Limited has filed a Follow-on Equity Offering in the amount of AUD 4.295693 million. Viking Mines Limited has filed a Follow-on Equity Offering in the amount of AUD 4.295693 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 339,938,637
Price\Range: AUD 0.005
Discount Per Security: AUD 0.00035
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 519,200,001
Price\Range: AUD 0.005
Discount Per Security: AUD 0.00035
Transaction Features: Subsequent Direct Listing Tillkännagivande • Sep 22
Viking Mines Limited, Annual General Meeting, Nov 12, 2025 Viking Mines Limited, Annual General Meeting, Nov 12, 2025. Location: at 15-17 old aberdeen place, west perth wa 6005 Australia Tillkännagivande • Mar 12
Viking Mines Limited Board Changes Viking Mines Ltd. announced the appointment of Dr. Julian Stephens to its Board of Directors, as Non-Executive Director, effective 11 March 2025. Viking further wishes to advise that Mr. Michael Cox will step down as a Non-Executive Director, effective 31 March 2025. Dr. Stephens is a seasoned professional in the field of mineral resource discovery and strategic exploration, with more than 25 years of extensive industry experience. He has a track record of proven leadership and exploration success, demonstrated in his term as Managing Director at Sovereign Metals Limited. He led the team that discovered the world's largest rutile deposit at Kasiya in Malawi and helped secure a strategic investment of approximately $40 million from Rio Tinto. Dr. Stephens conducted his PhD on RIRG Systems (reduced intrusion-related gold) and has substantial experience in Archaean and Paleoproterozoic greenstone-hosted gold exploration, including in the broader Davyhurst-Riverina area. His impressive career is marked by considerable contributions to the discovery and development of multiple mineral deposits worldwide, showcasing his strategic and effective leadership in exploration and project management. Dr. Stephens is a member of the Australian Institute of Geoscientists and continues to contribute to the industry in his other current role as a Non-Executive Director of Sovereign Metals Limited. Board Change • Dec 30
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 Non-Executive Director Michael Cox was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • Nov 28
Viking Mines Limited has completed a Follow-on Equity Offering in the amount of AUD 2.39 million. Viking Mines Limited has completed a Follow-on Equity Offering in the amount of AUD 2.39 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 265,555,556
Price\Range: AUD 0.009
Discount Per Security: AUD 0.00054
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Tillkännagivande • Nov 18
Viking Mines Limited has filed a Follow-on Equity Offering in the amount of AUD 2.39 million. Viking Mines Limited has filed a Follow-on Equity Offering in the amount of AUD 2.39 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 265,555,556
Price\Range: AUD 0.009
Discount Per Security: AUD 0.00054
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Oct 03
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.6% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (67% average weekly change). Revenue is less than US$1m (AU$148k revenue, or US$101k). Market cap is less than US$10m (€5.93m market cap, or US$6.55m). Minor Risk Shareholders have been diluted in the past year (3.6% increase in shares outstanding). Tillkännagivande • Sep 24
Viking Mines Limited, Annual General Meeting, Nov 13, 2024 Viking Mines Limited, Annual General Meeting, Nov 13, 2024. Location: at 15-17 old aberdeen place, west perth wa 6005 Australia Reported Earnings • Mar 13
First half 2024 earnings released: AU$0.002 loss per share (vs AU$0 in 1H 2023) First half 2024 results: AU$0.002 loss per share (further deteriorated from AU$0 in 1H 2023). Revenue: AU$51.7k (up AU$48.2k from 1H 2023). Net loss: AU$1.79m (loss widened 181% from 1H 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 59% per year, which means it is significantly lagging earnings. Tillkännagivande • Oct 05
Viking Mines Limited, Annual General Meeting, Nov 22, 2023 Viking Mines Limited, Annual General Meeting, Nov 22, 2023, at 10:00 W. Australia Standard Time. Reported Earnings • Mar 17
First half 2023 earnings released: EPS: AU$0 (vs AU$0.002 in 1H 2022) First half 2023 results: EPS: AU$0 (down from AU$0.002 in 1H 2022). Net loss: AU$638.1k (down 129% from profit in 1H 2022). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Mar 14
Now 40% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €0.0017, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 125% over the last 3 years. Meanwhile, the company has become profitable. Buying Opportunity • Feb 25
Now 26% undervalued Over the last 90 days, the stock is up 200%. The fair value is estimated to be €0.002, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 125% over the last 3 years. Meanwhile, the company has become profitable. Tillkännagivande • Feb 18
Viking Mines Ltd Provides Update on Review of Historical Metallurgical Testwork Completed on the Canegrass Battery Minerals Project Viking Mines Ltd. provide an update on a review of historical metallurgical testwork completed on the Canegrass Battery Minerals Project (‘Canegrass’ or ‘the Project’). Viking has identified three rounds of metallurgical testwork that has been conducted on samples collected from Canegrass. The objectives of the respective programmes have varied over time and not been focussed on producing a concentrate optimised for V2O5 recovery. This presents a unique opportunity for the Project as the true value of the vanadium has not been effectively assessed. Even with the lack of focus however, the results of the testwork completed demonstrate that high V2O5 can be achieved into a magnetic concentrate. Discussion: Maximus Resources Ltd. (‘Maximus’) commissioned ProMet Engineers to review results from Davis Tube Recovery (‘DTR’) tests completed on 15 samples collected from five RC drillholes across the Project tenements. Of the 15 samples tested, eight are from the Alpha domain of the Fold Nose JORC (2012) Inferred Mineral Resource (59Mt at 0.66% V2O52), with the remaining seven samples collected from drillholes located in different parts of the stratigraphy outside of the calculated Mineral Resource. The objective of the testwork was to determine if a magnetite concentrate could be produced for the purpose of direct shipping. As such, the strategy adopted by Maximus appears to have been focussed on producing iron ore, and not vanadium, as the direct shipping of a magnetite concentrate to a blast furnace would likely not receive credits for the vanadium content. Notwithstanding the focus of the testwork and sample selection being on the Iron content, the testwork has proved useful in the context of assessing vanadium recovery. The results presented above are focussed on those from the Alpha Domain of the Fold Nose Mineral Resource. The eight samples that fall in the Alpha domain have demonstrated moderate to high vanadium recoveries, especially given that the samples selected are from the oxidised upper portion of the deposit. This oxide zone would be expected to see lower recoveries than samples collected from fresh rock found below the oxidation profile. This improvement in recovery is evident with the results from four samples in hole MNRC0017 reaching 76.3% vs. a maximum of 63.0% in hole MNRC0016. Most encouraging of all is the grade of the concentrate reaching as high as 1.54% V2O5. This demonstrates that whilst the total recovery is lower in the oxide zone, a suitable concentrate grade can be achieved. Discussion: Flinders Mines Ltd. (‘Flinders’) commissioned WorleyParsons to conduct a range of staged testwork on samples collected from nine RC drillholes from across the project tenure. Important to note is that only one of these drillholes sampled the Alpha Domain of the Fold Nose Mineral Resource as part of the Canegrass Project and is the focus of this discussion. The remainder of the samples are not representative of the mineralisation found at the Fold Nose Mineral Resource and provide regional context but not direct information on the metallurgy of the Project. As with the ProMet testwork, the objective was to produce a magnetite concentrate as a direct shipping product and as such was not optimised for vanadium and unlikely to see any value if shipped to a blast furnace as iron ore. This is especially apparent in the low vanadium head-grades of the samples used from the Fold Nose Mineral Resource. It is unclear why samples below the mineral resource cut-off grade were selected and can only be assumed that the focus was not on vanadium extraction due to the envisaged product being shipped to a blast furnace. The priority appears to be to determine the recovery of iron (as magnetite) and that the substantial value of the vanadium does not seem to have been considered in the selection of the samples. However, even with the sub-optimal sample selection, positive results were received with vanadium recovery up to 86.3%. This has helped to provide insights into the metallurgical characteristics of the VTM mineralisation at the Canegrass Project. The report details Stage 1 involved DTR tests on 25 composite samples, from which two subsequent composites were produced from the one drillhole within the Alpha Domain of the Fold Nose Mineral Resource. The results in the report have been reported by domain and not by individual samples so there remains some uncertainty around individual sample performance. The Stage 2 testwork involved the combination of the samples used for DTR testwork to produce larger samples for LIMS testwork. NAGROM Testwork (2020): Three samples from two drillholes are selected from north of the Canegrass Project Kinks Inferred Mineral Resource within the fresh rock profile; Wet High Gradient Magnetic Separation (WHGMS) testwork at various grind sizes was completed with follow up mineralogy of the concentrates using INCA Mineralogy tests. A grind size of P100 -1mm was initially used with a low magnetic field strength of 100 Gauss to produce a rougher concentrate; Average of WHGMS results: V2O5 recovery 89.0%; Head (feed) grade of 0.61% V2O5; Concentrate grade of 1.03% V2O5. High recoveries were obtained at a very coarse grind size and low magnetic field strength; Progressive regrinds saw concentrate grade increase whilst recovery decreases; Chalcopyrite (copper sulphide mineral) was identified in the non-magnetic tail confirming presence of this battery mineral. Discussion Flinders commissioned NAGROM laboratories to undertake a series of Wet High Gradient Magnetic Separation (WHGMS) testwork and mineralogical studies on the concentrates to better understand the metallurgical properties of the mineralisation. As with the previous testwork, there appears to be limited thought applied to the appropriate selection of samples. Two drillholes (that are located 180m and 1,400m North of the Kinks Mineral Resource respectively) were used to provide chips for analysis, with no samples from within the current Inferred Mineral Resource areas. That said, the samples do appear to be located from extensions of the known mineralisation and can be considered useful in providing insight into potential vanadium recovery from the Project. The testwork completed a series of WHGMS tests at various grind sizes with a low magnetic field strength to determine the various recoveries at different grind sizes (Appendix 1). Importantly, and noted in the reports, the presence of chalcopyrite (copper sulphide mineral) was identified in the non-magnetic tail. This reaffirms the potential for copper credits at the Project and that further metallurgical testwork to produce a sulphide concentrate is required in future testwork programmes. Buying Opportunity • Jan 07
Now 40% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €0.00084, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 125% over the last 3 years. Meanwhile, the company has become profitable. Buying Opportunity • Dec 14
Now 38% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €0.0016, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 125% over the last 3 years. Meanwhile, the company has become profitable. Buying Opportunity • Nov 26
Now 48% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €0.00095, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 125% over the last 3 years. Meanwhile, the company has become profitable. 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. 2 non-independent directors. Independent Non-Executive Director Michael Cox was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 01
Full year 2022 earnings released: EPS: AU$0.001 (vs AU$0.008 loss in FY 2021) Full year 2022 results: EPS: AU$0.001 (up from AU$0.008 loss in FY 2021). Revenue: AU$4.16m (up AU$4.00m from FY 2021). Net income: AU$1.39m (up AU$6.05m from FY 2021). Profit margin: 33% (up from net loss in FY 2021). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 45% per year, which means it is significantly lagging earnings. Board Change • May 25
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 Michael Cox was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 10
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: AU$0.002 (up from AU$0.002 loss in 1H 2021). Revenue: AU$4.13m (up AU$4.08m from 1H 2021). Net income: AU$2.22m (up AU$2.88m from 1H 2021). Profit margin: 54% (up from net loss in 1H 2021). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Reported Earnings • Oct 04
Full year 2021 earnings released: AU$0.008 loss per share (vs AU$0.002 loss in FY 2020) Full year 2021 results: Net loss: AU$4.66m (loss widened AU$3.95m from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Executive Departure • Aug 04
Executive Chairman of the Board Raymond Whitten has left the company On the 2nd of August, Raymond Whitten's tenure as Executive Chairman of the Board ended after 6.8 years in the role. As of March 2021, Raymond still personally held 2.63m shares (€58k worth at the time). A total of 2 executives have left over the last 12 months. Executive Departure • Apr 24
Non-Executive Director has left the company On the 22nd of April, Charles Thomas' tenure as Non-Executive Director ended after 3.4 years in the role. As of December 2020, Charles personally held 19.38m shares (€252k worth at the time). Charles is the only executive to leave the company over the last 12 months. Reported Earnings • Mar 18
First half 2021 earnings released: AU$0.002 loss per share (vs AU$0.002 loss in 1H 2020) First half 2021 results: Net loss: AU$666.0k (loss widened 16% from 1H 2020). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Oct 01
Full year earnings released - €0.0023 loss per share Over the last 12 months the company has reported total losses of AU$711.0k, with losses widening by 43% from the prior year. 
