# 1MC: Full Year Statutory Accounts Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/1mc-full-year-statutory-accounts--cad96ce7-9af4-4cc4-b1fc-d86702fb242b Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03142384 Publisher: asx Original announcement: 2026-09-22T08:45:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-22T09:03:45.534Z Atlas analysis updated: 2026-09-22T09:03:45.534Z - Company: Morella Corporation Limited - Ticker: 1MC - Exchange: ASX - Region: Western Australia - Primary commodity: Rubidium - Secondary commodities: Lithium - Document categories: Resource update, Other - Extracted: 2026-09-22 09:03:46 UTC Narrative sentiment: 0.10 · Bullish ## Minestarters Atlas summary Morella Corporation Limited's full-year statutory accounts for 2026 report a net loss of $6.23 million, with a focus on mineral exploration. Subsequent to the financial year, the company announced a maiden Inferred Mineral Resource Estimate for its Mt Edon Critical Minerals Project in Western Australia. The estimate comprises 5.44 million tonnes at 0.16% Rb₂O and 0.07% Li₂O, providing a foundation for further technical evaluation. Reasoning: The announcement of a maiden Inferred Mineral Resource Estimate for the Mt Edon Critical Minerals Project is a positive step for the company, establishing a baseline for future evaluation. However, the 100% Inferred classification and the early stage of metallurgical assessment limit the immediate materiality and confidence in the estimate. The contained lithium is also very low. - Positive factor: Maiden Mineral Resource Estimate announced, establishing a baseline for project evaluation. - Positive factor: JORC Code \(2012\) compliant and signed off by Competent Persons, indicating a high reporting standard. - Positive factor: Cut-off grade and metal equivalent assumptions are disclosed, providing transparency. - Negative factor: The entire resource is classified as Inferred, representing the lowest confidence category. - Negative factor: Further studies are required to assess processing pathways and commercial viability, indicating early project stage. - Negative factor: The contained lithium tonnage and grade are very low compared to typical thresholds, suggesting limited economic significance for lithium at this stage. Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 6 ## Classification and evidence **Maiden Resource** Polarity: neutral Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. Why it applies: The document explicitly states 'On 17 September 2026, Morella Corporation Limited announced a maiden Mineral Resource Estimate for the Mt Edon Critical Minerals Project'. Evidence · text > On 17 September 2026, Morella Corporation Limited announced a maiden Mineral Resource Estimate for the Mt Edon Critical Minerals Project **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The Mineral Resource Estimate is classified as 'Inferred' for all reported categories. Evidence · text > The Inferred Mineral Resource, reported in accordance with the JORC Code \(2012\), comprises 5.44 million tonnes at 0.16% Rb₂O **All Inferred** Polarity: negative Definition: 100% of resource is Inferred category — very early stage, no engineering confidence. Why it applies: The entire Mineral Resource Estimate for the Mt Edon Critical Minerals Project is classified as Inferred, with no Measured or Indicated categories. Evidence · text > The Inferred Mineral Resource, reported in accordance with the JORC Code \(2012\), comprises 5.44 million tonnes at 0.16% Rb₂O **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The Mineral Resource Estimate is explicitly stated to be 'reported in accordance with the JORC Code \(2012\)'. Evidence · text > The Inferred Mineral Resource, reported in accordance with the JORC Code \(2012\) **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The report includes a Competent Persons Statement naming Julian Aldridge and Susan Havlin, who are Members of the AusIMM, as responsible for the MRE. Evidence · text > The information in this report that relates to the MREs for Sophie and Miles & June deposit was prepared by Mr Julian Aldridge and reviewed by Ms Susan Havlin, both employees of Snowden Optiro. Mr Aldridge is a Member of the Australian Institute of Mining and Metallurgy and Ms Havlin is a Member and Chartered Professional of the Australian Institute of Mining and Metallurgy **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The document clearly states the cut-off grade used for the resource estimate as '0.10% Rb2O'. Evidence · text > at a cut-off grade of 0.10% Rb₂O **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: The document states the estimate 'provides a foundation for further technical evaluation' and 'Further studies are required to assess processing pathways and commercial viability', indicating an early-stage study focus. Evidence · text > The estimate provides a foundation for further technical evaluation of the project. Further exploration and metallurgical work will be prioritised having regard to available funding and joint venture approvals. Further studies are required to assess processing pathways and commercial viability. **Deleterious Elements Present** Polarity: negative Story-specific tag Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: The MRE notes state 'MREs are reported above a Rb cut-off grade of 0.10 % Rb2O within optimised open-pit shells based on an assumed Rb2CO3 price of US$400/kg', implying a focus on rubidium carbonate, which can be a processing consideration. Evidence · text > MREs are reported above a Rb cut-off grade of 0.10 % Rb2O within optimised open-pit shells based on an assumed Rb2CO3 price of US$400/kg. ## Extracted facts Stored fact records: 6. Some facts used in scoring do not have a stored record. ## Resource Estimates (6) ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/1mc-full-year-statutory-accounts--cad96ce7-9af4-4cc4-b1fc-d86702fb242b#fact-resource-facts-0) Mt Edon Critical Minerals Project · rubidium #### Identity - Project: Mt Edon Critical Minerals Project - Commodity: rubidium - Region: australia\_wa - Reported Region: Western Australia - Ticker: 1MC #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Julian Aldridge, Susan Havlin - Resource group id: resource:36283fc52ee0a6d96a05 - Deposit or zone: Sophie - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 4500000 - Grade: 0.16 - Grade Unit: % - Contained Metal: 7100 - Contained Unit: t - Cutoff Grade: 0.1 - Cutoff Unit: % Rb2O #### Prior Estimate - Resource Date: 2026-09-17 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This is a maiden Inferred Resource for rubidium at the Sophie prospect, which is a positive initial step, but the 100% Inferred classification limits its current confidence and economic certainty. - Positive factor: Maiden Inferred Resource for rubidium at Sophie prospect, establishing initial scale. - Positive factor: JORC compliant and QP signed, providing credibility. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Further studies are required to assess processing pathways and commercial viability. Evidence · table > 0.16 Context: 4.50 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/1mc-full-year-statutory-accounts--cad96ce7-9af4-4cc4-b1fc-d86702fb242b#fact-resource-facts-1) Mt Edon Critical Minerals Project · lithium #### Identity - Project: Mt Edon Critical Minerals Project - Commodity: lithium - Region: australia\_wa - Reported Region: Western Australia - Ticker: 1MC #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Julian Aldridge, Susan Havlin - Resource group id: resource:36283fc52ee0a6d96a05 - Deposit or zone: Sophie - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 4500000 - Grade: 0.07 - Grade Unit: % - Contained Metal: 3100 - Contained Unit: t - Cutoff Grade: 0.1 - Cutoff Unit: % Rb2O #### Prior Estimate - Resource Date: 2026-09-17 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This is a maiden Inferred Resource for lithium, but the very low grade and 100% Inferred classification suggest limited immediate economic significance and high uncertainty. - Positive factor: Maiden Inferred Resource for lithium at Sophie prospect, providing initial data. - Positive factor: JORC compliant and QP signed. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Lithium grade \(0.07% Li2O\) is very low, below typical economic thresholds. - Negative factor: Further studies are required to assess processing pathways and commercial viability. Evidence · table > 0.07 Context: 4.50 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/1mc-full-year-statutory-accounts--cad96ce7-9af4-4cc4-b1fc-d86702fb242b#fact-resource-facts-2) Mt Edon Critical Minerals Project · rubidium #### Identity - Project: Mt Edon Critical Minerals Project - Commodity: rubidium - Region: australia\_wa - Reported Region: Western Australia - Ticker: 1MC #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Julian Aldridge, Susan Havlin - Resource group id: resource:3683ec49ed6f46ba1158 - Deposit or zone: Miles & June - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 940000 - Grade: 0.13 - Grade Unit: % - Contained Metal: 1200 - Contained Unit: t - Cutoff Grade: 0.1 - Cutoff Unit: % Rb2O #### Prior Estimate - Resource Date: 2026-09-17 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This is a maiden Inferred Resource for rubidium at the Miles & June prospect, adding to the project's overall resource, but the 100% Inferred classification limits its current confidence. - Positive factor: Maiden Inferred Resource for rubidium at Miles & June prospect, contributing to overall project scale. - Positive factor: JORC compliant and QP signed. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Further studies are required to assess processing pathways and commercial viability. Evidence · table > 0.13 Context: 0.94 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/1mc-full-year-statutory-accounts--cad96ce7-9af4-4cc4-b1fc-d86702fb242b#fact-resource-facts-3) Mt Edon Critical Minerals Project · lithium #### Identity - Project: Mt Edon Critical Minerals Project - Commodity: lithium - Region: australia\_wa - Reported Region: Western Australia - Ticker: 1MC #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Julian Aldridge, Susan Havlin - Resource group id: resource:3683ec49ed6f46ba1158 - Deposit or zone: Miles & June - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 940000 - Grade: 0.05 - Grade Unit: % - Contained Metal: 470 - Contained Unit: t - Cutoff Grade: 0.1 - Cutoff Unit: % Rb2O #### Prior Estimate - Resource Date: 2026-09-17 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This is a maiden Inferred Resource for lithium, but the very low grade and 100% Inferred classification suggest limited immediate economic significance and high uncertainty. - Positive factor: Maiden Inferred Resource for lithium at Miles & June prospect. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Lithium grade \(0.05% Li2O\) is very low, below typical economic thresholds. - Negative factor: Further studies are required to assess processing pathways and commercial viability. Evidence · table > 0.05 Context: 0.94 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/1mc-full-year-statutory-accounts--cad96ce7-9af4-4cc4-b1fc-d86702fb242b#fact-resource-facts-4) Mt Edon Critical Minerals Project · rubidium #### Identity - Project: Mt Edon Critical Minerals Project - Commodity: rubidium - Region: australia\_wa - Reported Region: Western Australia - Ticker: 1MC #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Julian Aldridge, Susan Havlin - Resource group id: resource:87c6b50d2dff20bd2083 - Deposit or zone: Total - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 5440000 - Grade: 0.16 - Grade Unit: % - Contained Metal: 8300 - Contained Unit: t - Cutoff Grade: 0.1 - Cutoff Unit: % Rb2O #### Prior Estimate - Resource Date: 2026-09-17 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This is the total maiden Inferred Resource for rubidium, representing a significant initial step for the project, but the 100% Inferred classification limits its current confidence and economic certainty. - Positive factor: Maiden Inferred Resource for rubidium, establishing initial project scale. - Positive factor: JORC compliant and QP signed, providing credibility. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Further studies are required to assess processing pathways and commercial viability. Evidence · table > 0.16 Context: 5.44 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/1mc-full-year-statutory-accounts--cad96ce7-9af4-4cc4-b1fc-d86702fb242b#fact-resource-facts-5) Mt Edon Critical Minerals Project · lithium #### Identity - Project: Mt Edon Critical Minerals Project - Commodity: lithium - Region: australia\_wa - Reported Region: Western Australia - Ticker: 1MC #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Julian Aldridge, Susan Havlin - Resource group id: resource:87c6b50d2dff20bd2083 - Deposit or zone: Total - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 5440000 - Grade: 0.07 - Grade Unit: % - Contained Metal: 3600 - Contained Unit: t - Cutoff Grade: 0.1 - Cutoff Unit: % Rb2O #### Prior Estimate - Resource Date: 2026-09-17 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This is the total maiden Inferred Resource for lithium, but the very low grade and 100% Inferred classification suggest limited immediate economic significance and high uncertainty. - Positive factor: Maiden Inferred Resource for lithium, providing initial data for the project. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Lithium grade \(0.07% Li2O\) is very low, below typical economic thresholds. - Negative factor: Further studies are required to assess processing pathways and commercial viability. Evidence · table > 0.07 Context: 5.44 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.