| SHARE CAPITAL |
The Company has authorised share capital of 500,000,000 shares with a par value of $0.001 per share. | | | 30 June
2026
No of
shares | | | 30 June
2026
$ | | | Opening balance | | | 104,790,304 | | | | 197,732,356 | | | Issue of shares suppliers (i) | | | 500,000 | | | | 6,541,000 | | | Issue of shares PIPE (i) | | | 14,030,301 | | | | 110,004,997 | | | Issue of shares GEM settlement | | | 4,153,686 | | | | 40,000,000 | | | Issue of shares vesting of RSU’s | | | 2,535,000 | | | | 8,632,900 | | | Issue of shares acquisition of copper (note 11) | | | 2,000,000 | | | | 15,800,000 | | | Issue of shares Tanbreez acquisition (i) | | | 14,500,000 | | | | 165,010,000 | | | Issue of shares 60 North Greenland ApS acquisition (note 32) | | | 150,262 | | | | 2,000,000 | | | Issue of shares exercise of warrants | | | 3,337,709 | | | | 64,856,655 | | | Issue of shares exercise of warrants (cashless) | | | 873,942 | | | | 22,196,803 | | | Capital raising costs - Cash | | | - | | | | (3,000,000 | ) | | Total share capital | | | 146,871,204 | | | | 629,774,711 | | | | | 30 June
2025
No of
shares | | | 30 June
2025
$ | | | Opening balance | | | 80,994,098 | | | | 51,508,320 | | | Issue of shares Tanbreez acquisition | | | 8,395,523 | | | | 90,000,000 | | | Issue of shares suppliers | | | 950,365 | | | | 1,997,000 | | | Issue of shares PIPE | | | 4,910,000 | | | | 24,550,000 | | | Issue of shares Directors | | | 560,310 | | | | 1,297,099 | | | Issue of shares vesting of RSU’s | | | 2,380,008 | | | | 24,438,104 | | | Issue of shares Tanbreez make good provisions | | | 5,000,000 | | | | 6,850,000 | | | Issue of shares upon conversion of warrants | | | 1,600,000 | | | | 2,000,000 | | | Issue of warrants PIPE (Investors) | | | - | | | | (3,104,593 | ) | | Issue of warrants PIPE (Brokers) | | | - | | | | (160,574 | ) | | Capital raising costs - Cash | | | - | | | | (1,643,000 | ) | | Total share capital | | | 104,790,304 | | | | 197,732,356 | | | | (i) | During the year ended 30 June 2026, the following shares were issued: | | | § | 500,000 shares to Mathew August for the provision of marketing related services to the Company comprising: | | | o | 100,000 shares issued on 22 October 2025. The fair value of these shares on the issue date was $15.05 which resulted in a loss in the extinguishment of liabilities of $326,000 | | | o | 400,000 shares issued on 2 February 2026. The fair value of these shares on the issue date was $12.59 which resulted in a loss in the extinguishment of liabilities of $1,844,000 | | | § | 14,030,301 shares to participants in the PIPE raising funds of $110,004,980 (before expenses) | | | § | 4,153,686 shares to GEM in respect to the GEM settlement (note 16) | | | § | 2,535,000 shares issued upon the vesting of RSU’s | | | § | On 16 December 2025, the Company issued 2,000,000 ordinary shares for the acquisition of ultra-high-grade copper powder inventory. Due to the highly specialised nature of the inventory and the fact that there is no observable market for ultra-high-grade copper powder and significant variations in pricing based on known market transactions, the Company has determined the cost of the inventory based on the fair value of the shares issued to the seller. Consequently, the cost of the ultra-high-grade copper powder is $15,800,000 being 2,000,000 shares at $7.90 per share, being the fair value of the shares as at the date of acquisition (note 6) | | | § | 14,500,000 shares issued upon the stage 2 acquisition of Tanbreez (note 31) | | | § | 150,262 shares issued upon the 70% acquisition of 60 North Greenland ApS acquisition (note 32) | | | § | 3,337,709 shares upon the exercise of options comprising | | | o | 3,315,000 shares upon the exercise of 3,315,000 unlisted warrants ($7.00 each expiring 7 February 2029) | | | o | 12,709 shares upon the exercise of 12,709 listed warrants ($11.50 each expiring 27 February 2029) | | | o | 10,000 shares upon the exercise of 10,000 unlisted warrants ($7.00 each expiring 6 October 2031) | | | § | 873,942 shares upon the exercise of options utilising the cashless facility comprising: | | | o | 38,468 shares issued upon the exercise of 50,100 warrants ($7.00 each expiring 7 February 2029) | | | o | 835,474 shares issued upon the exercise of 1,000,000 warrants ($5.00 each expiring 18 June 2029) | Terms and conditions of contributed equity Fully paid ordinary shares have the right to receive dividends as declared and, in the event of winding up the Company, to participate in the proceeds from sale of all surplus assets in proportion to the number of paid up shares held. Fully paid ordinary shares entitle their holder to one vote, either in person or by proxy, at any shareholders’ meeting of the Company. At 30 June 2026, all shares on issue in the Company are fully paid.
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