New Risk • Apr 28
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 14% 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 48% per year over the past 5 years. Shareholders have been substantially diluted in the past year (81% increase in shares outstanding). Revenue is less than US$1m (AU$68k revenue, or US$49k). Market cap is less than US$10m (AU$6.00m market cap, or US$4.31m). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Reported Earnings • Mar 17
First half 2026 earnings released: AU$0.062 loss per share (vs AU$0.046 loss in 1H 2025) First half 2026 results: AU$0.062 loss per share (further deteriorated from AU$0.046 loss in 1H 2025). Net loss: AU$6.84m (loss widened 76% from 1H 2025). New Risk • Nov 08
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 41% This is considered a major 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 Revenue has declined by 77% over the past year. Shareholders have been substantially diluted in the past year (41% increase in shares outstanding). Revenue is less than US$1m (AU$98k revenue, or US$63k). Market cap is less than US$10m (AU$4.00m market cap, or US$2.60m). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Duyuru • Oct 09
Summit Minerals Limited, Annual General Meeting, Nov 28, 2025 Summit Minerals Limited, Annual General Meeting, Nov 28, 2025. Location: suite 38, 460 stirling highway, peppermint grove wa 6011, Australia Reported Earnings • Sep 30
Full year 2025 earnings released: AU$5.73 loss per share (vs AU$0.088 loss in FY 2024) Full year 2025 results: AU$5.73 loss per share (further deteriorated from AU$0.088 loss in FY 2024). Net loss: AU$4.90m (loss widened 1.7% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 39% per year whereas the company’s share price has fallen by 36% per year. New Risk • Sep 29
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. 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 has declined by 43% over the past year. Revenue is less than US$1m (AU$188k revenue, or US$124k). Market cap is less than US$10m (AU$4.10m market cap, or US$2.70m). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Share price has been volatile over the past 3 months (18% average weekly change). Shareholders have been diluted in the past year (27% increase in shares outstanding). New Risk • Sep 25
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 28% 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 Revenue has declined by 43% over the past year. Revenue is less than US$1m (AU$188k revenue, or US$124k). Market cap is less than US$10m (AU$3.88m market cap, or US$2.56m). Minor Risks Share price has been volatile over the past 3 months (18% average weekly change). Shareholders have been diluted in the past year (28% increase in shares outstanding). New Risk • Jul 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 19% 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 (19% average weekly change). Revenue has declined by 43% over the past year. Revenue is less than US$1m (AU$188k revenue, or US$123k). Market cap is less than US$10m (AU$3.54m market cap, or US$2.31m). Minor Risk Less than 1 year of cash runway based on current free cash flow (-AU$4.1m). Duyuru • Mar 21
Summit Minerals Limited Appoints Mr. Tim Morrison as Non-Executive Director Summit Minerals Limited announced appointment of Mr. Tim Morrison as Non-Executive Director, effective immediately. Tim Morrison brings more than twenty years' experience in the financial markets, with a proven track record across private venture fund management and public listed markets. Over the course of his career, he has played a key role in raising significant capital for both listed and unlisted companies across various sectors. Mr. Morrison's expertise in capital markets has supported numerous successful business listings on the ASX and other exchanges globally. Mr. Morrison has also been actively involved in company and project development, guiding businesses through critical growth stages, from concept and feasibility studies through to development. His experience spans the full development cycle, enabling companies to successfully transition from early-stage exploration to production and long-term value creation. In addition, Mr. Morrison brings extensive experience in securing mine development finance, positioning him as a valuable asset to Summit Minerals as the Company continues to advance its growth and development strategy at its portfolio of projects in demand-driven commodities. Reported Earnings • Mar 18
First half 2025 earnings released: AU$0.047 loss per share (vs AU$0.028 loss in 1H 2024) First half 2025 results: AU$0.047 loss per share (further deteriorated from AU$0.028 loss in 1H 2024). Net loss: AU$3.89m (loss widened 225% from 1H 2024). New Risk • Mar 14
New major risk - Revenue and earnings growth Revenue has declined by 43% over the past year. 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 revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue 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 Share price has been highly volatile over the past 3 months (17% average weekly change). Revenue has declined by 43% over the past year. Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Revenue is less than US$1m (AU$188k revenue, or US$118k). Market cap is less than US$10m (AU$5.14m market cap, or US$3.23m). Minor Risk Less than 1 year of cash runway based on current free cash flow (-AU$4.1m). New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 49% This is considered a major 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 (17% average weekly change). Shareholders have been substantially diluted in the past year (49% increase in shares outstanding). Revenue is less than US$1m (AU$418k revenue, or US$261k). Market cap is less than US$10m (AU$12.1m market cap, or US$7.53m). Duyuru • Jan 02
Summit Minerals Limited Appoints Peter Allen as Director Summit Minerals Limited announced the appointment of Peter Allen as Director, effective 31 December 2024. Board Change • Nov 01
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Chairman Peretz Schapiro is the most experienced director on the board, commencing their role in 2022. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. New Risk • Oct 28
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.8m (US$9.81m) 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 Revenue is less than US$1m (AU$418k revenue, or US$276k). Market cap is less than US$10m (AU$14.8m market cap, or US$9.81m). Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Shareholders have been diluted in the past year (47% increase in shares outstanding). Duyuru • Oct 03
Summit Minerals Limited Announces the Appointment of Jamie Wright as Non-Executive Director Summit Minerals Limited announced that after an extensive recruitment process with the assistance of Gerald Daniels International, the appointment of Mr. Jamie Wright as a Non-Executive Director, effective immediately. Mr. Wright brings a wealth of experience in the minerals sector, having held key positions at notable companies including being the Managing Director of Global Lithium Resources Limited where he led the company through an IPO and a period of substantial growth. Mr. Wright has a track record in corporate governance and strategic management, with extensive expertise in resource exploration and development. Mr. Wright has extensive executive and Board experience across a range of critical minerals. Mr. Wright also has substantial banking and finance experience advising companies in the mining and other sectors. He has led business turnarounds, been responsible for project development and assisted companies with corporate initiatives and funding. Mr. Wright provides strategy advice through his business RJW Capital and is a Director of Cherish Metals, a Director of Community Living Options and is the Chair of the Governing Council of the Australian Science and Mathematics School. Mr. Wright has a Bachelor of Engineering, Bachelor of Applied Geology, a Graduate Diploma in Applied Finance and is a member of both the AusIMM and the AICD. Duyuru • Oct 02
Summit Minerals Limited, Annual General Meeting, Nov 27, 2024 Summit Minerals Limited, Annual General Meeting, Nov 27, 2024. Reported Earnings • Sep 28
Full year 2024 earnings released: AU$0.088 loss per share (vs AU$0.03 loss in FY 2023) Full year 2024 results: AU$0.088 loss per share (further deteriorated from AU$0.03 loss in FY 2023). Net loss: AU$4.82m (loss widened 403% from FY 2023). Duyuru • Sep 27
Summit Minerals Limited Appoints Leonard Math as Chief Financial Officer Summit Minerals Limited announce the appointment of Mr. Leonard Math as the Company's Chief Financial Officer. Mr. Math is a Chartered Accountant with more than 15 years of resources industry experience. He previously worked as an auditor at Deloitte and is experienced with public company responsibilities including ASX and ASIC compliance, control and implementation of corporate governance, statutory financial reporting and shareholder relations.
Mr Math has held multiple Director, CFO and Company Secretary roles for ASX listed companies. Duyuru • Sep 23
Summit Minerals Limited (ASX:SUM) executed a binding heads of agreement to acquire tenement 848158/2010 from RTB Geologia e Mineracao Ltda. Summit Minerals Limited (ASX:SUM) executed a binding heads of agreement to acquire tenement 848158/2010 from RTB Geologia e Mineracao Ltda on September 23, 2024. A cash consideration of AUD 0.05 million will be paid by Summit Minerals Limited. The consideration consists of 0.8 million common equity of Summit Minerals Limited to be issued for assets of tenement 848158/2010. As part of consideration, AUD 0.05 million is paid towards assets of tenement 848158/2010. Half of the fully paid ordinary shares (0.4 million) will be escrowed for 6 months from completion date. The completion of the acquisition is conditional upon the satisfaction of the application being
granted on or before 31 December 2024. Board Change • Jun 30
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Chairman Peretz Schapiro is the most experienced director on the board, commencing their role in 2022. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions Derivative • Jun 29
MD & Director exercised options to buy AU$170k worth of stock. On the 25th of June, Jiahe He exercised options to buy 500k shares at a strike price of around AU$0.22, costing a total of AU$110k. This transaction amounted to 353% of their direct individual holding at the time of the trade. Since March 2024, Jiahe has owned 141.55k shares directly. Company insiders have collectively bought AU$148k more than they sold, via options and on-market transactions, in the last 12 months. Duyuru • May 28
Summit Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 2 million. Summit Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,810,811
Price\Range: AUD 0.185
Discount Per Security: AUD 0.0111
Transaction Features: Subsequent Direct Listing Reported Earnings • Mar 18
First half 2024 earnings released: EPS: AU$0 (vs AU$0.013 loss in 1H 2023) First half 2024 results: EPS: AU$0. Net loss: AU$1.20m (loss widened 162% from 1H 2023). New Risk • Mar 15
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$2.8m 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$2.8m free cash flow). Shareholders have been substantially diluted in the past year (66% increase in shares outstanding). Revenue is less than US$1m (AU$331k revenue, or US$218k). Market cap is less than US$10m (AU$3.70m market cap, or US$2.44m). Minor Risks Less than 3 years of financial data is available. Share price has been volatile over the past 3 months (13% average weekly change). New Risk • Nov 02
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 66% This is considered a major 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 Shareholders have been substantially diluted in the past year (66% increase in shares outstanding). Revenue is less than US$1m (AU$66k revenue, or US$42k). Market cap is less than US$10m (AU$5.44m market cap, or US$3.48m). Minor Risks Less than 3 years of financial data is available. Share price has been volatile over the past 3 months (13% average weekly change). Duyuru • Oct 13
Summit Minerals Limited Appoints Jiahe He as Chief Executive Officer Summit Minerals Limited announced the appointment of highly experienced mining executive and experienced Lithium and battery metals industry professional, Mr. Jiahe "Gower" He as Chief Executive Officer ("CEO"). Gower is a highly respected and experienced mining executive and a certified CPA with over 20 years' experience in the resources sector. He has held various senior positions at Mitsui & Co (Australia) for over 16 years, overseeing Mitsui's strategic trade and investment activities across a variety of commodities including Lithium, Nickel, and other battery related minerals. At Mitsui, Gower led the West Australian Metals and Minerals unit, managing stakeholder engagements at various levels within the mining industry, both domestically and internationally. During his time, he engaged in various trade and investment activities with Australian lithium miners, as well as, Chinese converters and various downstream players and OEMs in China, Japan, Korea, Europe, and the US, who are involved in the Electric Vehicle (EV) value chain. Subsequent to Mitsui, Gower was an Executive Director of Delta Lithium. During a time, which saw the transformation of the company from a junior gold explorer to a recognised Australian Lithium player. Prior to joining Summit, Gower was CEO of Equinox Resources (EQN), and expanded his exposure to the EV industry in Canada. New Risk • Sep 29
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended June 2022. This is considered a major 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. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported June 2022 fiscal period end). Negative equity (-AU$180k). Shareholders have been substantially diluted in the past year (66% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$6.65m market cap, or US$4.30m). Minor Risk Share price has been volatile over the past 3 months (13% average weekly change). New Risk • Sep 26
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 66% This is considered a major 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 Negative equity (-AU$180k). Shareholders have been substantially diluted in the past year (66% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$8.10m market cap, or US$5.20m). Minor Risks Latest financial reports are more than 6 months old (reported June 2022 fiscal period end). Share price has been volatile over the past 3 months (13% average weekly change). Duyuru • Aug 08
Summit Minerals Limited, Annual General Meeting, Sep 07, 2023 Summit Minerals Limited, Annual General Meeting, Sep 07, 2023, at 10:00 W. Australia Standard Time. Location: Level 1, 389 Oxford Street Mount Hawthorn Western Australia Australia Agenda: To consider Ratification of Prior Issue of Shares Listing Rule 7.1; to consider Ratification of Prior Issue of Shares Listing Rule 7.1A; to consider Approval to Issue Shares; and to consider Approval to Issue Shares and Options in Consideration for an Acquisition. Duyuru • Feb 04
Summit Minerals Limited Commences Flying High-Resolution Aeromagnetic Survey over the Phillips River Project Located Near Ravensthorpe, WA Summit Minerals Limited announced that it has commenced flying a high-resolution aeromagnetic survey over the Phillips River Project located near Ravensthorpe, WA. MagSpec is collecting aeromagnetic and radiometric data over similar rocks to Allkem's nearby Mt Cattlin lithium operations. The survey will provide Summit with detailed aeromagnetic data over the Annabelle Volcanics and the Manyutup Tonalite, refining potential for Li, REE, and copper-gold targets and future drilling programs. The program involves flying 50m spaced lines at a flying height of 30m for 1,387 total line kilometres. The acquisition phase of the survey has already commenced and will take approximately three days to complete. The survey will cover an area measuring about 11km north-south and 6km east-west. Summit anticipates receiving the collected data in mid- February 2023. Duyuru • Jan 23
Summit Minerals Limited Announces Some Preliminary Observations from Its Maiden Field Investigations At the Munga Creek Group Summit Minerals Limited announce some preliminary observations from its maiden field investigations at the Munga Creek Group in the Windfall Antimony Project, near Kempsey, NSW. Summit completed early-stage exploration activities, including surface prospecting, soil and rock chip sampling, and assays across the historical workings to best define targets for an upcoming drilling campaign. The Munga Creek Group was last operational in 1974, producing over 1100t of antimony metal. Based on new geological understanding, the Company has re-entered the field to test the identified locally mineralised veins and their extensions beneath recent cover using UltraFine+TM soils. Additionally, the company is considering various geophysical approaches to promote targeting and help overcome the heavy scrub, which makes exploration and visualisation of outcrops difficult. Also, the company has expanded its focus to the Pinnacles and Tooroka Groups and anticipates completing similar exploration soon. Summit considers the Windfall licence area highly prospective for structurally controlled antimony mineralisation. Antimony occurrences in the Munga Creek area are mostly aligned along northerly trends. However, northeast of Munga Creek, some occurrences exhibited an east-west orientation. All are vein-type occurrences of quartz and stibnite, with breccia features commonly observed. Pyrite and pyrrhotite can accompany the stibnite mineralisation. The vein distribution is invariably controlled by significant fault zones and fracture systems that have accommodated hydrothermal solutions. The source for the mineralisation remains unidentified, and the host rock is mainly silicified siltstone. Except for the Munga Creek Mine, the known veins remain relatively underexplored, with several new veins identified east of the historical workings offering further potential to the project. Duyuru • Dec 20
Summit Minerals Limited has completed a Derivatives Offering in the amount of AUD 0.087009 million. Summit Minerals Limited has completed a Derivatives Offering in the amount of AUD 0.087009 million.
Security Name: Options
Security Type: Equity Option
Securities Offered: 13,954,271
Price\Range: AUD 0.005
Security Name: Options
Security Type: Equity Option
Securities Offered: 3,447,492
Price\Range: AUD 0.005
Transaction Features: Rights Offering Duyuru • Dec 12
Summit Minerals Limited Commences Drilling at Stallion REE Project Summit Minerals Limited announced that following a delay due to unseasonal rainfall, it has commenced reverse circulation drilling of previously intersected rare-earth mineralisation (REE) at its wholly owned Stallion Project, east of Kalgoorlie. The drilling program has three objectives: to confirm the previously drilled intersections featuring CeO2+La2O3+Sc2O3+Y2O3 enrichment; to assess the total rare earth oxide (TREO) tenor by analysing samples for the full complement of REE, and to identify shallower REE mineralisation marginal to the channel. The target is regolith-hosted REO mineralisation, potentially associated with an ion-adsorption deposit (IAD) resulting from weathering rare-earth-rich host rocks and forming clays. The REEs are weakly adsorbed onto the clay minerals. Essentially, the IAD model is derived from the weathering of REE- enriched granite, like that found at Stallion. Historically, Manhattan Corporation (MHC) drilled 78 drill holes for 6,552 metres at Stallion pre-2011. MHC, during exploration for uranium, intersected anomalous REE mineralisation in a weathered granite underlying a deep channel. The returned assays show grades up to 2,666ppm (0.26%) in only four of the 17 rare earth elements. The remaining 13 rare earth elements, including the high- demand HREEs, were not assayed. Background Information: Manhattan Corporation developed 78 drill holes for 6,552 metres at Stallion pre-2011, with over 1,000 drill samples submitted for multi-element analysis. The Stallion drilling systematically tested a uranium mineralised palaeochannel target on 400m by 100m drill centres over 8 kilometres of strike. MHC sampling was restricted to radioactive intervals defined by scintillometer readings exceeding 300cps, resulting in most holes remaining substantially under-sampled with almost no sampling occurring within the palaeochannel. The drilled anomalous intersections lie mostly in the weathered granite beneath the channel. Duyuru • Dec 03
Summit Minerals Limited Commences Field Activities and Executed Further Land Access Agreements in the Southeast of the Windfall Antimony Project, Near Kempsey Summit Minerals Limited announced that it has commenced field activities and executed further Land Access Agreements in the southeast of the Windfall Antimony Project, near Kempsey. Land access agreements were signed on additional properties that include other workings from the Munga Creek camp, which was last operational in 1974, producing over 1100t of antimony concentrates. Summit will undertake early-stage exploration activities, including surface mapping, soil and rock chip sampling, and assays across the historical workings to best define targets for an upcoming drilling campaign. The expanded access across the brownfield antimony project will support Summit's exploration ambitions to delineate JORC resources within several historical antimony camps captured by the Project, including Pinnacles and Toorooka. Summit Minerals' focus on this antimony project supports the growing awareness of the potential role antimony can play in the next generation of large-capacity stationary batteries. Summit believes the long-term prospects for the antimony market are supported by continuing strength in global antimony prices, the lack of new supply and the change of use case whereby stationary batteries linked to the grid can provide the reliability that solar and wind power cannot. Additional mapping, rock chip and preliminary soil sampling will be conducted over the coming months to identify priority target areas, which are expected to be drill tested next year upon drilling access permissions being received. Duyuru • Dec 01
Summit Minerals Limited Announces Rock Chip Results At Morrissey Lithium and REE Project Summit Minerals Limited has completed a reconnaissance field visit, including an initial program of rock chip sampling to confirm the prospectivity of the Morrissey Lithium and REE project in the central Gascoyne. Elevated copper, with supporting nickel and chromium results, was returned from the ultramafic unit adjacent to the target pegmatite body. Nine samples from the target pegmatite display low tenor results in lithium and total rare earth oxides. Their distribution, with higher TREO values in the south and lithium values in the north, supports the anticipated zonation pattern for this mineralisation style. Alluvial deposits of clay, silt, sand, or gravel associated with the Thirty-Three River, cover potentially more prospective pegmatite north of the current sampling, which will be the focus of the Company's next exploration program. Segue Resources Limited identified the Thirty-Three Supersuite as a fertile parent granite having the potential to generate LCT Pegmatite swarms. These swarms lie adjacent and may include the Morrissey property. Red Dirt Metals Ltd. recently acquired the Malinda Lithium Project, which abuts the Morrissey Project. The Malinda Lithium Project extends over an area with pegmatites and associated minerals and contains historical workings, recording the presence of highly anomalous lithium and tantalum. Summit's field program focused south of the Thirty-three River. Points of interest were interpreted from aerial photography and satellite and magnetic imagery before entering the field. Each point was visited, and a representative rock chip sample was taken, photographed, and submitted for assay at LabWest. The chosen assay stream was MMA-04, which includes microwave, HF/multi-acid digestion and returns 61 elements, including REEs, by ICP- MS/OES. Appropriate detection limits accompany the technique. Of note, an extremely rare, iron-rich pyroxene, Hedenbergite, was sampled in contact with the pegmatite. Contact metamorphic rocks high in iron are the primary geologic setting for hedenbergite. Besides forming in skarns, little is understood about the significance of the mineral at this locality. However, Hedenbergite is known to be associated with metamorphosed sulphide ores at Broken Hill. The elevated base metal results derived from the outcropping, fresh ultramafic rock, supported by hedenbergite, speculatively indicate the presence of a sulphide system. The target pegmatite lies open to the north and south. The more prospective northern end is buried by recent sediments associated with the Thirty-three River and will be the focus of future exploration. Further investigations, including additional chip sampling and soil geochemistry, are justified. Duyuru • Oct 27
Summit Minerals Limited Announces Maiden Drilling Program to Commence, Stallion REE Project Summit Minerals Limited advised of the imminent start of its maiden drilling campaign at the Stallion REE Project, east of Kalgoorlie. The Company has received drilling approval for its high-priority Stallion Project from DMIRS and has completed the site preparatory work. The Stallion Project is prospective for rare earth mineralisation potentially related to `hot' granitic rocks. The project covers parts of the Ponton Creek Palaeodrainage. The drilling program aims to: Validate historical REE drill intercepts in weathered granite beneath the palaeochannel. Confirm the interpreted "hot granites" located on the channel margins as a potentialsource for the REE enrichment. Allow the company to assay samples for the full suite of REEs. Previously sampleswere only assayed for 4 of 17 REEs, delivering grades of up to 2,666ppm pREO(Partial Rare Earth Oxides). Refine exploration strategies for use across the expanded project. Duyuru • Oct 24
Summit Minerals Limited, Annual General Meeting, Nov 24, 2022 Summit Minerals Limited, Annual General Meeting, Nov 24, 2022, at 09:30 W. Australia Standard Time. Location: Level 2, 389 Oxford Street, Mount Hawthorn WA 6016 Mount Hawthorn Australia Agenda: To consider adoption of remuneration report; to consider re-election of director; to consider amendment to constitution; to consider adoption of employee securities incentive plan; and to consider other matters if any. Duyuru • Sep 14
Summit Minerals Limited Announces Uranium Mineral Resource Strengthens Stallion Opportunity The Board of Summit Minerals Limited announced that its new application (ELA 28/3241) contains the Stallion Uranium Mineral Resource previously held by Manhattan Corporation Limited. The JORC 2012 Inferred Resource includes an estimated 1,490 tonnes (3.3Mlb) of uranium oxide at a 100ppm U3O8 cut-off (MHC, 2017). The reported Mineral Resource estimate was prepared in accordance with the 2012 JORC Code and was based primarily on MHC's 2010 and 2016 air core and sonic drilling. The historical uranium Mineral Resource extends southwards from the new application and onto the adjacent granted title (E 28/2999). MHC targeted Tertiary palaeochannels within the Gunbarrel Basin that are known to host several uranium deposits and drilled uranium prospects as it sought sand-hosted uranium mineralization. The same drilling also intersected rare-earth enrichment in the granitic bedrock underlying the palaeochannels, forming the exploration focus for Summit at the Stallion Project. Summit Minerals' new application (ELA 28/3241) captures the Stallion uranium Mineral Resource established by Manhattan Corporation Limited (MHC) The historical uranium Mineral Resource includes an estimated Inferred Resource of 3.3Mlb U3O8 captured within the application and adjacent granted title (E 28/2999). Duyuru • Sep 10
Summit Minerals Limited Expands Footprint At the Stallion REE Project The Board of Summit Minerals Limited announced it has applied for an exploration licence that envelops the existing Stallion prospect. The new application captures the extent of the "hot" granites, interpreted as the source rocks for the observed rare-earth enrichment, and grows the project from 19.86km2 to 162.19km2, a change of 142.33km2 (Figure 1). The company has acquired a significant archive of historical exploration data, including drillingresults, to assist with exploration upon the title being granted. Hot granites typically carry a robust radiometric signature as they are enriched in the radioactive metal's uranium, thorium, and potassium and are thus readily identifiable through radiometric imagery. Thus, the relative abundance and distribution of the hot granites and that of uranium, thorium and potassium are captured, which can assist with the identification of the target rocks but can also help with the mapping of their distribution. Uranium and thorium are also commonly associated with rare earth deposits via the phosphate minerals, apatite, and monazite. Summit reported1 that elevated levels of phosphorous coincide with anomalous REEs at Stallion and that the source of phosphorous is thought to be either apatite or monazite. Thorium typically occurs in the resistant mineral monazite and is less mobile than uranium. Thus, thorium forms an excellent and easily recognisable target in REE exploration (Figure 2). Figure 2 illustrates several important features of the Stallion architecture, which promote the Company's view of the larger exploration play at Stallion: Firstly, thorium enrichment occurs on either side of the Stallion palaeochannel; Secondly that the REE enrichment within the Stallion palaeochannel is generally downstream from outcropping "hot" granite; And, lastly, given that radiometrics measure mostly surficial reflectance, outcrop of the potential source rock as reported by Thorium is more widespread than that established by GSWA mapping, increasing the scale of the system significantly within the new application. Looking ahead, SUM will compile the significant archive of historical exploration data, including drilling results, and look for proof of concept in the results from next month's drill program while awaiting the grant of title. Duyuru • Sep 01
Summit Minerals Limited Announces Drilling Preparations Commence At Stallion REE Project Summit Minerals Limited's has commenced site works in preparation for a due diligence RC drilling campaign at the Stallion REE Project, east of Kalgoorlie. The drilling program seeks to confirm anomalous pREO results in cerium, lanthanum, scandium, and yttrium returned in the earlier MHC drilling and assess the total rare-earth oxide (TREO) tenor by analysing samples for the full complement of REE. The field visit will ensure access and site preparations required on the selected traverses to ensure commencement as soon as Mines Department approval is received. The field program includes: Prospecting the interpreted "hot granites" located on the channel margins as a potential source for the REE-enrichment identified beneath the palaeochannel; and, Refining exploration strategies for use across the project. To understand the exploration potential that the Company is targeting, it is important to appreciate the results reflect only four of the 17 available REEs. The remaining 13 elements were not analysed as part of the historical test work. The true prospectivity will be assessed when the distribution and tenor of all 17 REEs (TREO) are known. Interestingly, elevated levels of phosphorous coincide with anomalous REEs. The source of phosphorous is thought to be the minerals: apatite or monazite. Both represent common mineral phases within altered granite. Monazite, specifically, is a primarily reddish-brown phosphate mineral that contains rare-earth elements. It is also commonly associated with evolved "hot granites", which are also understood to be important source rocks for secondary uranium in unconformity and palaeochannel-hosted deposits. Hot granites typically carry a strong radiometric signature and are thus readily identifiable and can be witnessed cropping out within the tenure north of the palaeochannel. This provides an excellent and recognizable target for exploration. MHC reported poor sample recovery in most holes at Stallion due to high water volumes. They believe the preferential loss of fine material is reflected in lower assay values. To preserve sample integrity and mitigate sample loss due to high water volumes, SUM will contract a dedicated water boring drill outfit with an appropriately sized airpack. The company's objective with its drilling campaign is to verify the existing intercepts and validate the exploration concept that the palaeochannel has developed over a weathered "hot granite". As such, due diligence drilling will commence within the palaeochannel environment to confirm the known mineralisation and then step beyond the channel margins to test the near-surface "hot" granite (the concept). Duyuru • Aug 18
Summit Minerals Limited Announces the Technical Team Has Completed Its Survey of the Bridgetown and Philips River Lithium Projects Summit Minerals Limited announced the technical team has completed its survey of the Bridgetown and Philips River Lithium Projects. All the primary objectives of the survey were achieved, including receiving access permissions for non-ground disturbing activities and the right to negotiate drilling access at The Philips River Projects as well as completing a single line of termite sampling across the key lithium target at Bridgetown. All information generated during the field trip is being reviewed, with a follow-up report expected to be released to the market in the coming weeks. The identified lithium targets within the Phillips River Project lie mainly under crop. Extensions to these targets lie in the adjacent crown land with access from the same property. The Company has sought entry permissions to access the in-paddock targets and the northwest extensions. The permissions support non-ground disturbing activity, such as soil sampling and ground geophysical techniques. A right to negotiate drilling access has been agreed upon for a scheduled drilling program this summer. Unfortunately, road closures following heavy overnight rain restricted further access to the project area. The northern and southern project areas were surveyed utilising the existing road network. Much of the intended first pass exploration, including prospecting and outcrop sampling of the laterite-dominated hinterland, will use the same network. As with Phillips River, the heavy rain had closed many roads, and the ground conditions were considered too wet for soil sampling. Instead of soils, the team sampled termite mounds developed in residually weathered materials. Typically, the mound height is directly proportional to the depth of burrowed materials from the subsurface environment. Fractions of the underlying bedrock, including any mineralisation, will be expressed in the sampled mounds. The north-striking priority lithium target in the southern project was tested by 19 mound samples, each separated Manager, Mark Hill, sampling a by 60m along a 1200m east-west traverse The samples termite mound at Bridgetown were submitted to Labwest in Perth for multielement analysis. The company's objective is to prioritise area selection within each project for near-ter exploration, expanding the targeting footprint based on success. Duyuru • Aug 10
Summit Minerals Limited Commences Exploration on Lithium Projects Summit Minerals Limited announced the technical team has commenced field evaluation of the Bridgetown and Philips River Lithium Projects, respectively, located at Bridgetown and Ravensthorpe in south-western WA. All information generated during the field trip will be reviewed, with a follow-up report expected to be released to the market in the coming weeks. The field program includes: Reviewing the identified targets in each project area, Complete prospecting and outcrop sampling to identify lithium targets, Confirming access and refining exploration strategies for use across each project. The company's objective is to prioritise area selection within each project for near-term exploration, expanding the targeting footprint based on success. Duyuru • Aug 05
Summit Minerals Limited has completed an IPO in the amount of AUD 4.6105 million. Summit Minerals Limited has completed an IPO in the amount of AUD 4.6105 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 23,052,500
Price\Range: AUD 0.2
Discount Per Security: AUD 0.012 