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Minerals 260 Limited
(Sydney:MI6)
Minerals 260 Limited (MI6) vs. iShares MSCI Australia ETF (EWA)
Minerals 260 Limited Business Overview & Revenue Model
Minerals 260 Limited Financial Statement Overview
| Breakdown | ||||
| Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | Gross Profit |
| -155.14K | -55.67K | -1.69K | 0.00 | 0.00 | EBIT |
| -8.30M | -13.91M | -88.65M | -1.12K | -308.59K | EBITDA |
| -8.14M | -13.85M | -88.58M | 12.36K | 0.00 | Net Income Common Stockholders |
| -7.71M | -13.11M | -88.59M | -1.12K | -308.59K |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 11.10M | 17.08M | 23.47M | 27.78M | 0.00 | Total Assets |
| 12.05M | 17.52M | 23.73M | 27.78M | 0.00 | Total Debt |
| 624.38K | 96.76K | 0.00 | 1.12K | 299.44K | Net Debt |
| -10.48M | -16.98M | -23.47M | -27.78M | 299.44K | Total Liabilities |
| 1.18M | 911.75K | 569.29K | 47.04K | 327.97K | Stockholders Equity |
| 10.87M | 16.61M | 23.16M | 27.73M | -327.97K |
| Cash Flow | Free Cash Flow | |||
| -5.92M | -6.34M | -5.18M | 0.00 | 0.00 | Operating Cash Flow |
| -5.82M | -5.83M | -5.08M | 0.00 | 0.00 | Investing Cash Flow |
| -100.40K | -508.98K | -102.03K | 0.00 | 0.00 | Financing Cash Flow |
| -57.49K | -50.88K | 28.65M | 0.00 | 0.00 |
Minerals 260 Limited Technical Analysis
Minerals 260 Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $2.02B | -1.14 | -21.36% | 3.64% | 2.88% | -30.57% | |
35 Underperform | ― | -46.62% | ― | ― | 63.07% | ||
| $2.82B | 22.94 | -1.04% | ― | ― | ― | ||
| $123.92M | ― | -21.25% | ― | ― | ― | ||
| $127.49M | ― | -17.81% | ― | ― | ― | ||
| $183.57M | ― | -4.75% | ― | ― | ― | ||
| €891.56M | ― | -6.32% | ― | ― | ― |
Minerals 260 Limited Corporate Events
Minerals 260 Limited has completed the acquisition of the Bullabulling Gold Project from Norton Gold Fields, a subsidiary of Zijin Mining Group, for $166.5 million. The company also raised $220 million to fund an extensive drilling campaign and other studies at the Bullabulling site, which is one of Australia’s largest open-pittable gold resources. This acquisition and capital raising position Minerals 260 as a significant player in the gold project development sector, with the potential to enhance its market presence and operational capabilities.
Minerals 260 Limited, listed on the Australian Securities Exchange under the ticker MI6, has announced that Samuel Terry Asset Management Pty Ltd has become a substantial holder in the company. Samuel Terry now holds a 5.59% voting power in Minerals 260 Limited, having acquired 120,189,653 fully paid ordinary shares. This development indicates a significant investment by Samuel Terry Asset Management, potentially impacting the company’s market dynamics and signaling confidence in its future prospects.
Minerals 260 Limited has announced a change in the director’s interest, specifically for Director Timothy R B Goyder. The notice details the acquisition of 25 million fully paid ordinary shares by Mr. Goyder, with transactions occurring on April 10 and 11, 2025. This change in interest reflects a significant increase in Mr. Goyder’s holdings, potentially indicating confidence in the company’s future prospects and operations. The acquisition was made at a price of approximately $0.115 per share, suggesting a strategic investment move that could impact the company’s market positioning and stakeholder interests.
Franklin Resources, Inc. and its affiliates have become substantial holders in Minerals 260 Limited, acquiring a 5.81% voting power through 125,000,000 ordinary shares. This acquisition marks a significant investment in Minerals 260 Limited, potentially impacting the company’s shareholder structure and influencing future corporate decisions.
Minerals 260 Limited presented at the Resources Rising Stars Conference, highlighting the Bullabulling Gold Project as one of Australia’s largest near-term gold projects. The announcement underscores the company’s strategic positioning in a world-class mining region, potentially impacting its operational growth and stakeholder interests.
Minerals 260 Limited, a company listed on the Australian Securities Exchange (ASX) under the ticker MI6, will have its trading suspension lifted as it has met the necessary compliance requirements set by the ASX. This reinstatement to quotation is set to take effect from the start of trading on April 10, 2025, signaling a positive development for the company and its stakeholders as it resumes normal trading operations.
Minerals 260 Limited, a company involved in mineral exploration, has completed the acquisition of assets from Norton, involving a cash payment and issuance of shares. The company has raised $220 million through its public offer, which will be used for exploration activities, acquisition costs, and general corporate purposes, particularly focusing on the Bullabulling Gold Project.
Minerals 260 Limited, an entity involved in the mining sector, has released a report detailing the top 20 holders of its ordinary fully paid shares. The report highlights that HSBC Custody Nominees (Australia) Limited holds the largest share at 19.43%, followed by J P Morgan Nominees Australia Pty Limited and Citicorp Nominees Pty Limited with 13.29% and 9.74% respectively. This distribution of shares among major financial institutions and individuals indicates a diverse shareholder base, potentially impacting the company’s strategic decisions and market perception.
Minerals 260 Limited’s recent holdings report reveals that a small percentage of its issued capital is held by shareholders with unmarketable holdings, amounting to 0.18%. The majority of the company’s shares, 96.46%, are held by those with holdings above 100,000 units, indicating a concentration of ownership among larger shareholders.
Minerals 260 Limited has implemented a Securities Trading Policy to guide its directors, officers, employees, consultants, and contractors in dealing with company securities. The policy aims to prevent insider trading and ensure high standards of corporate conduct, thereby maintaining market confidence. The policy outlines specific periods, known as Black-out Periods, during which designated persons are prohibited from dealing in company securities to prevent misuse of unpublished information that could affect the securities’ value. This move is expected to bolster the company’s reputation and align with legal obligations under the Corporations Act and ASX Listing Rules.
Minerals 260 Limited has released its interim financial report for the half-year ended 30 June 2024. The report includes key financial statements such as the consolidated statement of profit or loss, financial position, changes in equity, and cash flows, along with notes and declarations from directors and auditors. This release provides stakeholders with insights into the company’s financial health and operational performance over the past six months, which could influence investor confidence and strategic decisions.
Minerals 260 Limited has released its annual report for the year ending December 31, 2023. The report includes detailed financial statements and declarations, providing insights into the company’s financial performance and position. This release is crucial for stakeholders to assess the company’s operational efficiency and financial health over the past year.
Minerals 260 Limited has submitted an application for admission to the official list of ASX Limited, following the guidelines set by the JORC Code. The company has ensured that its exploration targets, results, and resource estimates are prepared by competent professionals and are reported in compliance with industry standards, which is crucial for maintaining transparency and credibility in its operations.
Minerals 260 Limited has submitted the necessary documentation to support its application for admission to the official list of ASX Limited as an ASX Listing. This move marks a significant step in the company’s growth strategy, potentially enhancing its visibility and credibility in the mineral exploration industry, and providing new opportunities for investment and expansion.
Minerals 260 Limited has applied for admission to the official list of ASX Limited, seeking to list 2,150,666,666 fully paid ordinary shares. This move is likely to enhance the company’s visibility and access to capital markets, potentially strengthening its position in the mining industry and providing new opportunities for growth and investment.
Minerals 260 Limited is set to have its securities reinstated for quotation on the ASX following compliance with listing rules, after raising A$220 million through a significant share issue. This reinstatement is anticipated to enhance the company’s market presence and provide opportunities for stakeholders, as it continues its exploration activities.
Minerals 260 Limited has announced a significant change in the interests of its substantial holder, Timothy R. B. Goyder. This change is primarily due to the acquisition of fully paid ordinary shares through a public offer, resulting in a dilution of voting power from 13.32% to 6.10%. This development indicates a strategic move by the company to raise capital and potentially expand its operations, which could impact its market positioning and stakeholder interests.
Minerals 260 Limited has completed the acquisition of the Bullabulling Gold Project in Western Australia, marking a significant milestone for the company. With a planned 80,000m drilling program set to commence on April 16, the company aims to expand its resource base and enhance its position in the gold sector, while its shares are expected to recommence trading on the ASX on April 10.
Minerals 260 Limited announced a change in the director’s interest, with Stacey Apostolou acquiring indirect interests through Apostman Holdings Pty Ltd and Apostman Superannuation Pty Ltd. This acquisition includes 750,000 unlisted options at $0.19, 3,000,000 unlisted options at $0.18, and 1,000,000 fully paid ordinary shares. The transaction signifies a strategic move in the company’s governance and financial structuring, potentially impacting its market positioning and shareholder value.
Minerals 260 Limited announced a change in the director’s interest, with Luke Charles McFadyen acquiring additional securities through Yarlie Capital Pty Ltd, as trustee for The McFadyen Family Trust. This acquisition includes 9,000,000 unlisted options and 1,000,000 fully paid ordinary shares, reflecting a strategic move to strengthen the director’s stake in the company. The acquisition was part of the Employee Securities Incentive Plan and a Public Offer, both approved by shareholders, indicating a positive response from stakeholders and potentially enhancing the company’s market position.
Minerals 260 Limited has announced a significant change in the interests of its director, Timothy R B Goyder. The change involves the acquisition of 5,000,000 unlisted options and 91,666,666 fully paid ordinary shares under direct interest, as well as 8,333,334 fully paid ordinary shares under indirect interest. This development may impact the company’s operational dynamics and could influence its market positioning, reflecting a strategic move by the director to consolidate his stake in the company.
Minerals 260 Limited has announced a change in the director’s interest in securities, specifically involving David Ross Richards. The company disclosed that Mr. Richards acquired 2,000,000 unlisted options with an exercise price of $0.18, expiring on April 3, 2028, and 125,000 fully paid ordinary shares. Additionally, through indirect interest via Dawanda Pty Ltd, 1,250,000 fully paid ordinary shares were acquired. This change reflects an increase in Mr. Richards’ stake in the company, potentially signaling confidence in the company’s future prospects.
Minerals 260 Limited announced a change in the director’s interest, with Emma Josephine Scotney acquiring additional securities through Warialda Pty Ltd as trustee for The Sconti Trust. This acquisition includes 2,000,000 unlisted options and 2,000,000 fully paid ordinary shares, reflecting the company’s strategic move to strengthen its financial position and enhance shareholder value.
Minerals 260 Limited has announced the issuance of unquoted equity securities, specifically unlisted options, as part of an employee incentive scheme. This move involves the issuance of 21,750,000 unlisted options with varying exercise prices and expiration dates, which is likely aimed at motivating and retaining employees, potentially impacting the company’s operational efficiency and market competitiveness.
Minerals 260 Limited has successfully raised $220 million to acquire and advance the Bullabulling Gold Project in Western Australia. The capital raising received strong support from international and domestic institutions, as well as existing shareholders, and will fund the acquisition and development of the project, positioning the company for growth in the gold mining sector.
Minerals 260 Limited has announced a proposed issue of securities, specifically a non-pro rata offer of fully paid ordinary shares. This initiative involves the issuance of a significant number of shares, which are expected to be escrowed for 12 months from the date of issue. The move is aimed at raising capital, potentially enhancing the company’s financial position and market operations.
Minerals 260 Limited announced that all resolutions at their General Meeting of Shareholders were passed by a poll vote. The resolutions included approvals for changes in the scale of activities and the issuance of equity raising shares, which could impact the company’s growth and investment strategies.
Minerals 260 Limited has announced the acquisition of the Bullabulling Gold Project, a significant undeveloped gold deposit in Australia, marking a transformational step for the company. The acquisition is expected to strengthen the company’s position in the gold market, with plans to conduct a major drilling campaign to expand the existing mineral resource and progress towards production. The project has garnered strong market support, and the company is optimistic about its potential, backed by an experienced leadership team.
Minerals 260 Limited has announced changes in its board of directors, with Timothy Goyder appointed as the Non-Executive Chair and Stacey Apostolou joining as a Non-Executive Director. These leadership changes are part of the company’s ongoing efforts to strengthen its governance and strategic direction, potentially impacting its operations and stakeholder relationships positively.
Minerals 260 Limited has announced a Priority Offer for its existing shareholders as part of a public offer to raise up to A$220 million. This initiative is linked to the company’s proposed acquisition of Bullabulling Gold Pty Ltd, which holds the Bullabulling Gold Project. The Priority Offer allows eligible shareholders to participate in the public offer, ensuring a minimum allocation and the opportunity to maintain their percentage ownership. The funds raised will support the exploration and development of the Bullabulling project, aiming to enhance shareholder value by expanding the project’s mineral resources and moving towards production.
Minerals 260 Limited has announced the opening of its Public Offer, aiming to raise up to $220 million through the issuance of new shares. The offer is open to the general public, with a minimum subscription level set at $200 million. Eligible shareholders in Australia and New Zealand have the opportunity to participate in a Priority Offer, ensuring a minimum allocation of shares. This capital raising initiative is expected to support the company’s growth and enhance its market positioning, providing stakeholders with potential investment opportunities.
Minerals 260 Limited has announced an equity raising initiative to support the acquisition and advancement of the Bullabulling Gold Project. This strategic move aims to bolster the company’s operations and enhance its positioning in the mining industry, potentially impacting stakeholders by increasing the company’s resource base and future production capabilities.
Minerals 260 Limited has issued a prospectus for a public offer to raise up to A$220 million by offering shares at A$0.12 each. This initiative is part of the company’s strategy to re-comply with listing rules following a change in its operational scale. The offer is not underwritten and is conditional on certain events, with a minimum subscription target of A$200 million. This move is expected to impact the company’s market positioning by enhancing its financial resources and aligning with regulatory standards, potentially influencing stakeholders’ perceptions and investment decisions.
Minerals 260 Limited has announced a General Meeting of Shareholders scheduled for March 27, 2025, in Perth, Western Australia. Shareholders are encouraged to participate either in person or by proxy, with materials available electronically to streamline communication. This meeting is a significant event for stakeholders, as it provides an opportunity for shareholder engagement and decision-making on company matters.
Minerals 260 Limited announced a correction to a previously filed document regarding unquoted securities. The initial document incorrectly listed the expiry date for 500,000 unlisted options as December 31, 2028, while the correct expiry date is December 31, 2027. This correction ensures accurate information is available to stakeholders, reflecting the company’s commitment to transparency and proper documentation.