# LML: FY26 Annual Report Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03144547 Publisher: asx Original announcement: 2026-09-27T23:20:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-29T18:54:29.883Z Atlas analysis updated: 2026-09-29T18:54:29.883Z - Company: Lincoln Minerals Limited - Ticker: LML - Exchange: ASX - Region: South Australia - Primary commodity: Copper - Secondary commodities: Lead, Zinc, Silver, Graphite, Magnetite, Uranium - Document categories: Resource update, Drill results, Capital raise - Extracted: 2026-09-29 18:54:30 UTC Narrative sentiment: 0.10 · Bullish ## Minestarters Atlas summary Lincoln Minerals Limited's FY26 Annual Report highlights a strategic shift towards copper exploration, with recent air core drilling at the Minbrie Copper Project validating its geological model. The company secured A$5.351 million through capital raises to fund ongoing operations and planned follow-up drilling. Despite these advancements, the report discloses a net loss of A$2.198 million and a material uncertainty regarding its ability to continue as a going concern, while its graphite and magnetite resource estimates remained unchanged. Reasoning: Lincoln Minerals Limited's FY26 Annual Report indicates a mixed performance. While the company successfully raised capital and reported positive early-stage drill results validating its copper exploration model, it also recorded a net loss and faces a material uncertainty regarding its going concern status. The resource updates for other commodities showed no material changes, suggesting a focused but financially challenging period. - Positive factor: Successful capital raises provide funding for ongoing operations and exploration. - Positive factor: Positive, albeit early-stage, drill results at Minbrie validate the geological model for copper. - Positive factor: Active exploration program is underway with plans for follow-up diamond drilling. - Positive factor: New CEO with extensive mining industry experience appointed to lead the company. - Negative factor: The company reported a net loss for the financial year. - Negative factor: A material uncertainty regarding the company's ability to continue as a going concern was noted by auditors. - Negative factor: A cyber fraud incident resulted in a significant financial loss, though a settlement is expected. - Negative factor: Mineral resource estimates for graphite and magnetite were re-stated with no material changes, indicating low progress on these assets. - Negative factor: Drill results are reported as 'apparent width' only, which may overstate true thickness. Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 51 ## Classification and evidence **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: The drill intercept for hole BUDD192 is explicitly stated as a historical result from February 2025, re-released in this annual report. Evidence · text > 29.5m @ 0.8% Cu, 7.5% Pb, 1.9% Zn and 9g/t Ag in hole BUDD192 \(apparent width\)1. Importantly, our review demonstrated ~1.7km of strike at Eagle Ridge remains untested, and large portions of the broader corridor have never been drilled for copper. **Apparent Width Only** Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Why it applies: The drill intercept for hole BUDD192 is explicitly stated as 'apparent width', with no true width provided. Evidence · text > 29.5m @ 0.8% Cu, 7.5% Pb, 1.9% Zn and 9g/t Ag in hole BUDD192 \(apparent width\) **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: The historical drill intercept for BUDD192 reports significant grades of lead and zinc alongside copper, which can be penalty elements in copper concentrates. Evidence · text > 29.5m @ 0.8% Cu, 7.5% Pb, 1.9% Zn and 9g/t Ag in hole BUDD192 \(apparent width\) **Apparent Width Only** Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Why it applies: The drill intercept for hole MBAC022 is explicitly stated as 'apparent width', with no true width provided. Evidence · text > 6m at 0.26% Pb and 0.22% Zn from 90m \(MBAC022, apparent width\) **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The Mineral Resource Statement explicitly states that the information is based upon information compiled by a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves \(the JORC Code\). Evidence · text > The information in this document that relates to Mineral Resources is based upon information compiled by Mr Shane O’Connell who is a Member of the Australasian Institute of Mining and Metallurgy. Mr O’Connell is a consultant to Lincoln Minerals Limited and has sufficient experience relevant to the style of mineralisation, the type of deposit under consideration and to the activity undertaken to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves \(the JORC Code\). **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 Mineral Resource Statement explicitly states that the information is compiled by Mr Shane O’Connell, who qualifies as a Competent Person under the JORC Code. Evidence · text > The information in this document that relates to Mineral Resources is based upon information compiled by Mr Shane O’Connell who is a Member of the Australasian Institute of Mining and Metallurgy. Mr O’Connell is a consultant to Lincoln Minerals Limited and has sufficient experience relevant to the style of mineralisation, the type of deposit under consideration and to the activity undertaken to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves \(the JORC Code\). **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: The document explicitly states that 'In the year ended June 30, 2026, there have been no changes to the Company’s Mineral Resources,' indicating the estimates are not new. Evidence · text > In the year ended June 30, 2026, there have been no changes to the Company’s Mineral Resources. **All Inferred** Polarity: negative Definition: 100% of resource is Inferred category — very early stage, no engineering confidence. Why it applies: The Bald Hill magnetite resource is entirely classified as Inferred, indicating low geological confidence. Evidence · table > Inferred Context: 289.4 **All Inferred** Polarity: negative Definition: 100% of resource is Inferred category — very early stage, no engineering confidence. Why it applies: The Iron Mount magnetite resource is entirely classified as Inferred, indicating low geological confidence. Evidence · table > Inferred Context: 135 **All Inferred** Polarity: negative Definition: 100% of resource is Inferred category — very early stage, no engineering confidence. Why it applies: The Rifle Range magnetite resource is entirely classified as Inferred, indicating low geological confidence. Evidence · table > Inferred Context: 3.5 **Going Concern Uncertainty** Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Why it applies: The auditor's report highlights a material uncertainty related to going concern due to a net loss of $2,198,849 and net cash outflow from operating and investing activities of $1,783,155. Evidence · text > We draw attention to Note 2 in the financial statements, which indicates that the Group incurred a net loss of $2,198,849 during the year ended 30 June 2026 and a net cash outflow from operating and investing activities of $1,783,155. As stated in Note 2, these events or conditions, along with other matters as set forth in Note 2, indicate that a material uncertainty exists that may cast significant doubt on the Group’s ability to continue as a going concern. **Fraud Incident** Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Why it applies: The company identified a loss of $121,772 due to a phishing scam, which is a negative event impacting financial security. Evidence · text > During the year the Company identified two bank transactions to incorrect bank details as a result of a phishing scam resulting in a loss of $121,772 net of recoveries. ## Extracted facts Stored fact records: 51. Some facts used in scoring do not have a stored record. ## Drill Results (16) ### BUDD192 [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-drill-facts-0) Minbrie · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: BUDD192 - Project: Minbrie - Commodity: copper - Region: australia\_sa - Reported Region: australia\_sa - Ticker: LML #### Geometry - Grade: 0.8 - Grade Unit: % - Intercept: 29.5 m #### Classification - Sample Type: drill #### Location - Location: Eagle Ridge prospect - Loc. Source: document #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-02-12T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This historical copper intercept is high-grade and indicates significant mineralization, but its novelty is low as it's a re-statement and reported as apparent width only. The presence of other base metals could imply processing challenges. - Positive factor: High-grade copper intercept. - Negative factor: Result is historical and re-stated. - Negative factor: Reported as apparent width only. - Negative factor: Polymetallic nature with lead and zinc may indicate processing complexities or penalty elements. Evidence · text > 29.5m @ 0.8% Cu, 7.5% Pb, 1.9% Zn and 9g/t Ag in hole BUDD192 \(apparent width\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### BUDD192 [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-drill-facts-1) Minbrie · lead Historical result Needs review: historical\_restatement #### Identity - Hole ID: BUDD192 - Project: Minbrie - Commodity: lead - Region: australia\_sa - Reported Region: australia\_sa - Ticker: LML #### Geometry - Grade: 7.5 - Grade Unit: % - Intercept: 29.5 m #### Classification - Sample Type: drill #### Location - Location: Eagle Ridge prospect - Loc. Source: document #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-02-12T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This historical lead intercept is high-grade and indicates significant mineralization, but its novelty is low as it's a re-statement and reported as apparent width only. The presence of other base metals could imply processing challenges. - Positive factor: High-grade lead intercept. - Negative factor: Result is historical and re-stated. - Negative factor: Reported as apparent width only. - Negative factor: Polymetallic nature with other base metals may indicate processing complexities or penalty elements. Evidence · text > 29.5m @ 0.8% Cu, 7.5% Pb, 1.9% Zn and 9g/t Ag in hole BUDD192 \(apparent width\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### BUDD192 [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-drill-facts-2) Minbrie · zinc Historical result Needs review: historical\_restatement #### Identity - Hole ID: BUDD192 - Project: Minbrie - Commodity: zinc - Region: australia\_sa - Reported Region: australia\_sa - Ticker: LML #### Geometry - Grade: 1.9 - Grade Unit: % - Intercept: 29.5 m #### Classification - Sample Type: drill #### Location - Location: Eagle Ridge prospect - Loc. Source: document #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-02-12T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This historical zinc intercept is high-grade and indicates significant mineralization, but its novelty is low as it's a re-statement and reported as apparent width only. The presence of other base metals could imply processing challenges. - Positive factor: High-grade zinc intercept. - Negative factor: Result is historical and re-stated. - Negative factor: Reported as apparent width only. - Negative factor: Polymetallic nature with other base metals may indicate processing complexities or penalty elements. Evidence · text > 29.5m @ 0.8% Cu, 7.5% Pb, 1.9% Zn and 9g/t Ag in hole BUDD192 \(apparent width\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### BUDD192 [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-drill-facts-3) Minbrie · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: BUDD192 - Project: Minbrie - Commodity: silver - Region: australia\_sa - Reported Region: australia\_sa - Ticker: LML #### Geometry - Grade: 9 - Grade Unit: g/t - Intercept: 29.5 m #### Classification - Sample Type: drill #### Location - Location: Eagle Ridge prospect - Loc. Source: document #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-02-12T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This historical silver intercept adds value to the polymetallic mineralization, but its novelty is low as it's a re-statement and reported as apparent width only. The presence of other base metals could imply processing challenges. - Positive factor: Silver intercept adds value to the polymetallic mineralization. - Negative factor: Result is historical and re-stated. - Negative factor: Reported as apparent width only. - Negative factor: Polymetallic nature with other base metals may indicate processing complexities or penalty elements. Evidence · text > 29.5m @ 0.8% Cu, 7.5% Pb, 1.9% Zn and 9g/t Ag in hole BUDD192 \(apparent width\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### MBAC022 [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-drill-facts-4) Minbrie · lead #### Identity - Hole ID: MBAC022 - Project: Minbrie - Commodity: lead - Region: australia\_sa - Reported Region: australia\_sa - Ticker: LML #### Geometry - Grade: 0.26 - Grade Unit: % - Intercept: 6 m - From: 90 m - To: 96 m - Intercept Depth: 90 m #### Classification - Sample Type: drill - Group ID: MBAC022:90-96 #### Location - Location: Eagle Ridge - Loc. Source: document #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This new lead intercept confirms the up-dip continuity of mineralization and validates the geological model, which is positive for exploration. However, the grade is relatively low and it's reported as apparent width. - Positive factor: New drill result confirms mineralization continues up-dip. - Positive factor: Validates the geological model for the project. - Negative factor: Grade is relatively low. - Negative factor: Reported as apparent width only. Evidence · text > 6m at 0.26% Pb and 0.22% Zn from 90m \(MBAC022, apparent width\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### MBAC022 [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-drill-facts-5) Minbrie · zinc #### Identity - Hole ID: MBAC022 - Project: Minbrie - Commodity: zinc - Region: australia\_sa - Reported Region: australia\_sa - Ticker: LML #### Geometry - Grade: 0.22 - Grade Unit: % - Intercept: 6 m - From: 90 m - To: 96 m - Intercept Depth: 90 m #### Classification - Sample Type: drill - Group ID: MBAC022:90-96 #### Location - Location: Eagle Ridge - Loc. Source: document #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This new zinc intercept confirms the up-dip continuity of mineralization and validates the geological model, which is positive for exploration. However, the grade is relatively low and it's reported as apparent width. - Positive factor: New drill result confirms mineralization continues up-dip. - Positive factor: Validates the geological model for the project. - Negative factor: Grade is relatively low. - Negative factor: Reported as apparent width only. Evidence · text > 6m at 0.26% Pb and 0.22% Zn from 90m \(MBAC022, apparent width\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 7 [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-drill-facts-41) Needs review: drill\_no\_hole\_id #### Identity - Region: australia\_sa - Reported Region: australia\_sa - Ticker: LML #### Classification - Sample Type: drill #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: The successful renounceable Entitlement Issue raised a substantial amount of capital, providing crucial funding for the company's activities. - Positive factor: Successful capital raise provides significant funding for company operations. - Positive factor: Issue price of $0.005 per share indicates market confidence. Evidence · text > In September 2025 Lincoln completed a renounceable Entitlement Issue, raising $1,501,000 \(before costs\). #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 8 [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-drill-facts-42) Needs review: drill\_no\_hole\_id #### Identity - Region: australia\_sa - Reported Region: australia\_sa - Ticker: LML #### Classification - Sample Type: drill #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: The Follow-On placement successfully raised additional capital, contributing to the company's funding needs. - Positive factor: Successful capital raise provides additional funding for company operations. - Positive factor: Follow-On placement on the same terms as the Entitlement Issue indicates consistent market interest. Evidence · text > A further $750,000 was raised in a Follow‑On placement on the same terms as the Entitlement Issue. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 9 [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-drill-facts-43) Needs review: drill\_no\_hole\_id #### Identity - Region: australia\_sa - Reported Region: australia\_sa - Ticker: LML #### Classification - Sample Type: drill #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: The first tranche of the strategic placement secured significant funding from a strategic investor at an improved share price, demonstrating increased investor confidence. - Positive factor: Binding commitment from a strategic investor provides strong financial backing. - Positive factor: Placement at A$0.012 per share indicates a higher valuation compared to previous raises. Evidence · text > Tranche 1 83.3 million New Shares were issued to raise A$1 million \(before costs\) using Lincoln’s placement capacity under ASX Listing Rule 7.1. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 10 [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-drill-facts-44) Needs review: drill\_no\_hole\_id #### Identity - Region: australia\_sa - Reported Region: australia\_sa - Ticker: LML #### Classification - Sample Type: drill #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: The approval and completion of the second tranche of the strategic placement secured significant additional funding, crucial for advancing the Minbrie Copper Project. - Positive factor: Shareholder approval for the second tranche of the strategic placement ensures substantial funding. - Positive factor: The placement includes free attaching options, providing additional incentive for investors. Evidence · text > Tranche 2 At an extraordinary general meeting held on 10 July 2026, shareholders approved the issue of 175 million New Shares and 129.2 million Attaching Options to raise A$2.1 million \(before costs\). #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 11 [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-drill-facts-45) Needs review: drill\_no\_hole\_id #### Identity - Region: australia\_sa - Reported Region: australia\_sa - Ticker: LML #### Classification - Sample Type: drill #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: The company's cash and cash equivalents increased significantly, providing a stronger financial position for future operations. - Positive factor: Increased cash balance compared to the previous year, indicating improved liquidity. Evidence · table > 1,648,132 Context: Cash and cash equivalents #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 12 [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-drill-facts-46) Needs review: drill\_no\_hole\_id #### Identity - Region: australia\_sa - Reported Region: australia\_sa - Ticker: LML #### Classification - Sample Type: drill #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: The company reported a substantial net loss, which is a negative financial indicator and contributes to the overall going concern uncertainty. - Negative factor: Significant net loss for the financial year, impacting profitability. - Negative factor: Contributes to the material uncertainty regarding going concern. Evidence · table > \(2,198,849\) Context: Loss after income tax expense for the year #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 13 [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-drill-facts-47) Needs review: drill\_no\_hole\_id #### Identity - Region: australia\_sa - Reported Region: australia\_sa - Ticker: LML #### Classification - Sample Type: drill #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: The company experienced a significant net cash outflow from operating activities, highlighting ongoing operational costs not covered by revenue. - Negative factor: Continued negative cash flow from operating activities, indicating reliance on financing for day-to-day operations. Evidence · table > \(1,084,273\) Context: Net cash used in operating activities #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 14 [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-drill-facts-48) Needs review: drill\_no\_hole\_id #### Identity - Region: australia\_sa - Reported Region: australia\_sa - Ticker: LML #### Classification - Sample Type: drill #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: The company had a net cash outflow from investing activities, mainly driven by exploration and evaluation expenditures, which is typical for an exploration company but contributes to overall cash burn. - Negative factor: Negative cash flow from investing activities, primarily due to exploration and evaluation payments. Evidence · table > \(698,882\) Context: Net cash used in investing activities #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 15 [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-drill-facts-49) Needs review: drill\_no\_hole\_id #### Identity - Region: australia\_sa - Reported Region: australia\_sa - Ticker: LML #### Classification - Sample Type: drill #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: The company generated substantial positive cash flow from financing activities, demonstrating its ability to raise capital to fund its operations and exploration programs. - Positive factor: Significant positive cash flow from financing activities, primarily from share issues, indicating successful capital raises. Evidence · table > 2,810,095 Context: Net cash from financing activities #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 16 [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-drill-facts-50) Needs review: drill\_no\_hole\_id #### Identity - Region: australia\_sa - Reported Region: australia\_sa - Ticker: LML #### Classification - Sample Type: drill #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: A cyber fraud incident resulted in a financial loss, highlighting a security breach, although a settlement is expected to recover the funds. - Positive factor: Company has executed a Deed of Settlement and Release to recover the funds. - Negative factor: Loss incurred due to a cyber fraud incident, indicating a security vulnerability. Evidence · text > During the year the Company identified two bank transactions to incorrect bank details as a result of a phishing scam resulting in a loss of $121,772 net of recoveries. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ## Resource Estimates (35) ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-6) Kookaburra Graphite Project · graphite Historical result Needs review: historical\_restatement #### Identity - Project: Kookaburra Graphite Project - Commodity: graphite - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:e08d5688c2fab05b087f - Deposit or zone: Kookaburra Gully #### Resource Data - Category: measured - Tonnes: 1000000 - Grade: 11.77 - Grade Unit: %TGC - Contained Metal: 118 - Contained Unit: kt - Cutoff Grade: 2 - Cutoff Unit: %TGC #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-04-16T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This is a high-confidence Measured resource for graphite, but its novelty is low as no changes were reported for the current financial year. - Positive factor: High-confidence Measured resource category. - Positive factor: JORC compliant and QP signed. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. Evidence · table > 11.77 Context: 1.00 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-7) Kookaburra Graphite Project · graphite Historical result Needs review: historical\_restatement #### Identity - Project: Kookaburra Graphite Project - Commodity: graphite - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:36f9b229d7b71fc7f39e - Deposit or zone: Kookaburra Gully #### Resource Data - Category: indicated - Tonnes: 1440000 - Grade: 11.73 - Grade Unit: %TGC - Contained Metal: 169 - Contained Unit: kt - Cutoff Grade: 2 - Cutoff Unit: %TGC #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-04-16T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Indicated resource for graphite provides reasonable confidence, but its novelty is low as no changes were reported for the current financial year. - Positive factor: Indicated resource category provides reasonable geological confidence. - Positive factor: JORC compliant and QP signed. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. Evidence · table > 11.73 Context: 1.44 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-8) Kookaburra Graphite Project · graphite Historical result Needs review: historical\_restatement #### Identity - Project: Kookaburra Graphite Project - Commodity: graphite - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:d37d3a479b0585989c8d - Deposit or zone: Kookaburra Gully #### Resource Data - Category: inferred - Tonnes: 1070000 - Grade: 11.66 - Grade Unit: %TGC - Contained Metal: 125 - Contained Unit: kt - Cutoff Grade: 2 - Cutoff Unit: %TGC #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-04-16T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Inferred resource for graphite is speculative, and its novelty is low as no changes were reported for the current financial year. - Positive factor: JORC compliant and QP signed. - Negative factor: Inferred resource category is speculative with limited geological confidence. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. Evidence · table > 11.66 Context: 1.07 #### 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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-9) Kookaburra Graphite Project · graphite Historical result Needs review: historical\_restatement #### Identity - Project: Kookaburra Graphite Project - Commodity: graphite - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:587d55c30473d9f52015 - Deposit or zone: Koppio #### Resource Data - Category: indicated - Tonnes: 2840000 - Grade: 7.53 - Grade Unit: %TGC - Contained Metal: 214 - Contained Unit: kt - Cutoff Grade: 2 - Cutoff Unit: %TGC #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-04-16T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Indicated resource for graphite provides reasonable confidence, but its novelty is low as no changes were reported for the current financial year. - Positive factor: Indicated resource category provides reasonable geological confidence. - Positive factor: JORC compliant and QP signed. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. Evidence · table > 7.53 Context: 2.84 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-10) Kookaburra Graphite Project · graphite Historical result Needs review: historical\_restatement #### Identity - Project: Kookaburra Graphite Project - Commodity: graphite - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:6b081998ce398da4588a - Deposit or zone: Koppio #### Resource Data - Category: inferred - Tonnes: 790000 - Grade: 6.72 - Grade Unit: %TGC - Contained Metal: 53 - Contained Unit: kt - Cutoff Grade: 2 - Cutoff Unit: %TGC #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-04-16T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Inferred resource for graphite is speculative, and its novelty is low as no changes were reported for the current financial year. - Positive factor: JORC compliant and QP signed. - Negative factor: Inferred resource category is speculative with limited geological confidence. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. Evidence · table > 6.72 Context: 0.79 #### 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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-11) Kookaburra Graphite Project · graphite Historical result Needs review: historical\_restatement #### Identity - Project: Kookaburra Graphite Project - Commodity: graphite - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:711e53d9deae47f0011a - Deposit or zone: Kookaburra Gully Extended #### Resource Data - Category: indicated - Tonnes: 580000 - Grade: 7.73 - Grade Unit: %TGC - Contained Metal: 45 - Contained Unit: kt - Cutoff Grade: 2 - Cutoff Unit: %TGC #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-04-16T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Indicated resource for graphite provides reasonable confidence, but its novelty is low as no changes were reported for the current financial year. - Positive factor: Indicated resource category provides reasonable geological confidence. - Positive factor: JORC compliant and QP signed. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. Evidence · table > 7.73 Context: 0.58 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-12) Kookaburra Graphite Project · graphite Historical result Needs review: historical\_restatement #### Identity - Project: Kookaburra Graphite Project - Commodity: graphite - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:991b7c8e082beaa536db - Deposit or zone: Kookaburra Gully Extended #### Resource Data - Category: inferred - Tonnes: 5120000 - Grade: 4.86 - Grade Unit: %TGC - Contained Metal: 249 - Contained Unit: kt - Cutoff Grade: 2 - Cutoff Unit: %TGC #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-04-16T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Inferred resource for graphite is speculative, and its novelty is low as no changes were reported for the current financial year. - Positive factor: JORC compliant and QP signed. - Negative factor: Inferred resource category is speculative with limited geological confidence. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. Evidence · table > 4.86 Context: 5.12 #### 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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-13) Eyre Magnetite Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: iron\_ore - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:cccc8dbb72b0f80462e2 - Deposit or zone: Koppio #### Resource Data - Category: measured - Tonnes: 10800000 - Grade: 22.7 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This is a high-confidence Measured resource for iron, but its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: High-confidence Measured resource category. - Positive factor: JORC compliant and QP signed. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 22.7 Context: 10.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-14) Eyre Magnetite Project · silicon\_dioxide Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: silicon\_dioxide - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:cccc8dbb72b0f80462e2 - Deposit or zone: Koppio #### Resource Data - Category: measured - Tonnes: 10800000 - Grade: 52.3 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This is a high-confidence Measured resource for silicon dioxide, but its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: High-confidence Measured resource category. - Positive factor: JORC compliant and QP signed. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 52.3 Context: 10.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-15) Eyre Magnetite Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: iron\_ore - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:874f525474559e12daf9 - Deposit or zone: Koppio #### Resource Data - Category: indicated - Tonnes: 106600000 - Grade: 24.3 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Indicated resource for iron provides reasonable confidence, but its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: Indicated resource category provides reasonable geological confidence. - Positive factor: JORC compliant and QP signed. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 24.3 Context: 106.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-16) Eyre Magnetite Project · silicon\_dioxide Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: silicon\_dioxide - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:874f525474559e12daf9 - Deposit or zone: Koppio #### Resource Data - Category: indicated - Tonnes: 106600000 - Grade: 52 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Indicated resource for silicon dioxide provides reasonable confidence, but its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: Indicated resource category provides reasonable geological confidence. - Positive factor: JORC compliant and QP signed. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 52 Context: 106.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-17) Eyre Magnetite Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: iron\_ore - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:cbfb8601cff0b6c428b4 - Deposit or zone: Koppio #### Resource Data - Category: inferred - Tonnes: 99600000 - Grade: 24.5 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Inferred resource for iron is speculative, and its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: JORC compliant and QP signed. - Negative factor: Inferred resource category is speculative with limited geological confidence. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 24.5 Context: 99.6 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-18) Eyre Magnetite Project · silicon\_dioxide Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: silicon\_dioxide - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:cbfb8601cff0b6c428b4 - Deposit or zone: Koppio #### Resource Data - Category: inferred - Tonnes: 99600000 - Grade: 52.3 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Inferred resource for silicon dioxide is speculative, and its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: JORC compliant and QP signed. - Negative factor: Inferred resource category is speculative with limited geological confidence. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 52.3 Context: 99.6 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-19) Eyre Magnetite Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: iron\_ore - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:5040aa810eb52305ffe5 - Deposit or zone: Brennand #### Resource Data - Category: indicated - Tonnes: 155800000 - Grade: 24.2 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Indicated resource for iron provides reasonable confidence, but its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: Indicated resource category provides reasonable geological confidence. - Positive factor: JORC compliant and QP signed. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 24.2 Context: 155.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-20) Eyre Magnetite Project · silicon\_dioxide Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: silicon\_dioxide - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:5040aa810eb52305ffe5 - Deposit or zone: Brennand #### Resource Data - Category: indicated - Tonnes: 155800000 - Grade: 50.8 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Indicated resource for silicon dioxide provides reasonable confidence, but its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: Indicated resource category provides reasonable geological confidence. - Positive factor: JORC compliant and QP signed. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 50.8 Context: 155.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-21) Eyre Magnetite Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: iron\_ore - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:397150ada4cdcffd040f - Deposit or zone: Brennand #### Resource Data - Category: inferred - Tonnes: 110400000 - Grade: 24.4 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Inferred resource for iron is speculative, and its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: JORC compliant and QP signed. - Negative factor: Inferred resource category is speculative with limited geological confidence. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 24.4 Context: 110.4 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-22) Eyre Magnetite Project · silicon\_dioxide Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: silicon\_dioxide - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:397150ada4cdcffd040f - Deposit or zone: Brennand #### Resource Data - Category: inferred - Tonnes: 110400000 - Grade: 50.6 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Inferred resource for silicon dioxide is speculative, and its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: JORC compliant and QP signed. - Negative factor: Inferred resource category is speculative with limited geological confidence. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 50.6 Context: 110.4 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-23) Eyre Magnetite Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: iron\_ore - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:4a53c1d1ea3aa5898ccc - Deposit or zone: Bald Hill #### Resource Data - Category: inferred - Tonnes: 289400000 - Grade: 26.8 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2012-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This resource is entirely Inferred, indicating low confidence, and its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2012. - Positive factor: JORC compliant and QP signed. - Negative factor: Resource is entirely in the Inferred category, indicating low geological confidence. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2012, indicating it is stale. Evidence · table > 26.8 Context: 289.4 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-24) Eyre Magnetite Project · silicon\_dioxide Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: silicon\_dioxide - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:4a53c1d1ea3aa5898ccc - Deposit or zone: Bald Hill #### Resource Data - Category: inferred - Tonnes: 289400000 - Grade: 51 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2012-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This resource is entirely Inferred, indicating low confidence, and its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2012. - Positive factor: JORC compliant and QP signed. - Negative factor: Resource is entirely in the Inferred category, indicating low geological confidence. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2012, indicating it is stale. Evidence · table > 51 Context: 289.4 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-25) Eyre Magnetite Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: iron\_ore - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:7e64519398ca17951395 - Deposit or zone: Kapperna #### Resource Data - Category: indicated - Tonnes: 38500000 - Grade: 29.7 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Indicated resource for iron provides reasonable confidence, but its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: Indicated resource category provides reasonable geological confidence. - Positive factor: JORC compliant and QP signed. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 29.7 Context: 38.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-26) Eyre Magnetite Project · silicon\_dioxide Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: silicon\_dioxide - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:7e64519398ca17951395 - Deposit or zone: Kapperna #### Resource Data - Category: indicated - Tonnes: 38500000 - Grade: 43.1 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Indicated resource for silicon dioxide provides reasonable confidence, but its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: Indicated resource category provides reasonable geological confidence. - Positive factor: JORC compliant and QP signed. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 43.1 Context: 38.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-27) Eyre Magnetite Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: iron\_ore - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:2a1883c20723c0c0311b - Deposit or zone: Kapperna #### Resource Data - Category: inferred - Tonnes: 23300000 - Grade: 29.7 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Inferred resource for iron is speculative, and its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: JORC compliant and QP signed. - Negative factor: Inferred resource category is speculative with limited geological confidence. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 29.7 Context: 23.3 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-28) Eyre Magnetite Project · silicon\_dioxide Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: silicon\_dioxide - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:2a1883c20723c0c0311b - Deposit or zone: Kapperna #### Resource Data - Category: inferred - Tonnes: 23300000 - Grade: 43.8 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Inferred resource for silicon dioxide is speculative, and its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: JORC compliant and QP signed. - Negative factor: Inferred resource category is speculative with limited geological confidence. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 43.8 Context: 23.3 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-29) Eyre Magnetite Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: iron\_ore - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:5d2f1541e6bbcece2628 - Deposit or zone: Iron Mount #### Resource Data - Category: inferred - Tonnes: 135000000 - Grade: 25.5 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This resource is entirely Inferred, indicating low confidence, and its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: JORC compliant and QP signed. - Negative factor: Resource is entirely in the Inferred category, indicating low geological confidence. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 25.5 Context: 135 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-30) Eyre Magnetite Project · silicon\_dioxide Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: silicon\_dioxide - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:5d2f1541e6bbcece2628 - Deposit or zone: Iron Mount #### Resource Data - Category: inferred - Tonnes: 135000000 - Grade: 36.7 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This resource is entirely Inferred, indicating low confidence, and its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: JORC compliant and QP signed. - Negative factor: Resource is entirely in the Inferred category, indicating low geological confidence. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 36.7 Context: 135 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-31) Eyre Magnetite Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: iron\_ore - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:d1990bb18a66119b51ba - Deposit or zone: Carrow #### Resource Data - Category: indicated - Tonnes: 72400000 - Grade: 27.3 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Indicated resource for iron provides reasonable confidence, but its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: Indicated resource category provides reasonable geological confidence. - Positive factor: JORC compliant and QP signed. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 27.3 Context: 72.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-32) Eyre Magnetite Project · silicon\_dioxide Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: silicon\_dioxide - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:d1990bb18a66119b51ba - Deposit or zone: Carrow #### Resource Data - Category: indicated - Tonnes: 72400000 - Grade: 40.1 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Indicated resource for silicon dioxide provides reasonable confidence, but its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: Indicated resource category provides reasonable geological confidence. - Positive factor: JORC compliant and QP signed. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 40.1 Context: 72.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-33) Eyre Magnetite Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: iron\_ore - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:653cfa9511d7383800e9 - Deposit or zone: Carrow #### Resource Data - Category: inferred - Tonnes: 86800000 - Grade: 27.2 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Inferred resource for iron is speculative, and its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: JORC compliant and QP signed. - Negative factor: Inferred resource category is speculative with limited geological confidence. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 27.2 Context: 86.8 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-34) Eyre Magnetite Project · silicon\_dioxide Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: silicon\_dioxide - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:653cfa9511d7383800e9 - Deposit or zone: Carrow #### Resource Data - Category: inferred - Tonnes: 86800000 - Grade: 41.6 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Inferred resource for silicon dioxide is speculative, and its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: JORC compliant and QP signed. - Negative factor: Inferred resource category is speculative with limited geological confidence. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 41.6 Context: 86.8 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-35) Eyre Magnetite Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: iron\_ore - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:b23dca99db7a5d6439b0 - Deposit or zone: Barnes #### Resource Data - Category: indicated - Tonnes: 12300000 - Grade: 26.6 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Indicated resource for iron provides reasonable confidence, but its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: Indicated resource category provides reasonable geological confidence. - Positive factor: JORC compliant and QP signed. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 26.6 Context: 12.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-36) Eyre Magnetite Project · silicon\_dioxide Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: silicon\_dioxide - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:b23dca99db7a5d6439b0 - Deposit or zone: Barnes #### Resource Data - Category: indicated - Tonnes: 12300000 - Grade: 41.1 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Indicated resource for silicon dioxide provides reasonable confidence, but its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: Indicated resource category provides reasonable geological confidence. - Positive factor: JORC compliant and QP signed. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 41.1 Context: 12.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-37) Eyre Magnetite Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: iron\_ore - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:09e1151490cac96bcae1 - Deposit or zone: Barnes #### Resource Data - Category: inferred - Tonnes: 88900000 - Grade: 23.5 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Inferred resource for iron is speculative, and its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: JORC compliant and QP signed. - Negative factor: Inferred resource category is speculative with limited geological confidence. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 23.5 Context: 88.9 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-38) Eyre Magnetite Project · silicon\_dioxide Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: silicon\_dioxide - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:09e1151490cac96bcae1 - Deposit or zone: Barnes #### Resource Data - Category: inferred - Tonnes: 88900000 - Grade: 44.1 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This Inferred resource for silicon dioxide is speculative, and its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: JORC compliant and QP signed. - Negative factor: Inferred resource category is speculative with limited geological confidence. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 44.1 Context: 88.9 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-39) Eyre Magnetite Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: iron\_ore - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:b802c4cd7c8f4ca8c85a - Deposit or zone: Rifle Range #### Resource Data - Category: inferred - Tonnes: 3500000 - Grade: 27.1 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This resource is entirely Inferred, indicating low confidence, and its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: JORC compliant and QP signed. - Negative factor: Resource is entirely in the Inferred category, indicating low geological confidence. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 27.1 Context: 3.5 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/lml-fy26-annual-report--f88e3df1-3ed6-4a36-bed4-a3c7f631cc34#fact-resource-facts-40) Eyre Magnetite Project · silicon\_dioxide Historical result Needs review: historical\_restatement #### Identity - Project: Eyre Magnetite Project - Commodity: silicon\_dioxide - Region: australia\_sa - Reported Region: South Australia - Ticker: LML #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Shane O’Connell - Resource group id: resource:b802c4cd7c8f4ca8c85a - Deposit or zone: Rifle Range #### Resource Data - Category: inferred - Tonnes: 3500000 - Grade: 38.7 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2004-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-27T00:00:00.000Z Reasoning: This resource is entirely Inferred, indicating low confidence, and its novelty is low as no changes were reported for the current financial year, and the estimate is stale from 2004. - Positive factor: JORC compliant and QP signed. - Negative factor: Resource is entirely in the Inferred category, indicating low geological confidence. - Negative factor: No material changes to the resource estimate in the current reporting period, indicating low novelty. - Negative factor: Estimate is from 2004, indicating it is stale. Evidence · table > 38.7 Context: 3.5 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ## 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.