# NME: Annual Report to shareholders

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a

Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03145691

Publisher: asx

Original announcement: 2026-09-29T22:15:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: 2026-09-29T23:34:13.874Z

Atlas analysis updated: 2026-09-29T23:34:13.874Z

- Company: Nex Metals Explorations Ltd.

- Ticker: NME

- Exchange: ASX

- Region: Western Australia

- Primary commodity: Gold

- Secondary commodities: Copper, Nickel, Tungsten

- Document categories: Metallurgy, Agreement transaction, Other

- Extracted: 2026-09-29 23:34:14 UTC

Narrative sentiment: -0.20 · Bearish

## Minestarters Atlas summary

Nex Metals Explorations Ltd. reported a profit after tax of $557,633 for the year ended June 30, 2026, a significant improvement from the previous year's loss. The company completed the divestment of its Arika Resources JV interest, receiving approximately $0.5 million net cash and extinguishing funding obligations. Metallurgical test work on the Kookynie Gold Tailings Project showed improved gold recovery of 71% with light grinding and CIL, and identified scheelite as a potential byproduct. However, the auditors highlighted a material uncertainty regarding the company's ability to continue as a going concern due to net liabilities and reliance on related-party financial support.

Reasoning: The company reported a profit and made strategic moves like divesting a JV interest and expanding its land position, which are positive. However, the auditor's emphasis on a material uncertainty regarding going concern due to net liabilities and reliance on related-party financial support casts a significant shadow over the financial health and future operations. Metallurgical results show improvement but are not exceptional.

- Positive factor: Reported a profit after tax for the year, reversing previous losses.

- Positive factor: Divestment of Arika JV provided net cash and extinguished funding obligations.

- Positive factor: Metallurgical test work showed improved gold recovery with grinding and CIL.

- Positive factor: Expanded land position in Western Australia through a new joint venture and tenement applications.

- Positive factor: Identified scheelite as a potential byproduct from tailings.

- Negative factor: Auditors highlighted a material uncertainty regarding the company's ability to continue as a going concern.

- Negative factor: The company has net liabilities and net current liabilities.

- Negative factor: Significant reliance on directors and related parties for financial support and deferral of debt repayments.

- Negative factor: Metallurgical recoveries, even after improvement, are still moderate \(71% for gold\).

- Negative factor: Historical exploration results for new projects are not independently validated.

Low confidence — this extraction should be reviewed alongside the original source.

Facts used in scoring: 33

## Classification and evidence

**Low Recovery**

Polarity: negative

Definition: Recovery below the weak band for the commodity and processing route.

Why it applies: The highest gold recovery achieved was 71% with light grind and CIL, which is below the strong/exceptional bands for CIL processing.

Evidence · table

> 71%

Context: P80 106 μm

**Recovery Improving**

Polarity: positive

Definition: Recovery improved versus a like-for-like prior test program on the same domain and route.

Why it applies: Gold recovery increased from 52% \(direct cyanidation\) to 71% \(light grind + CIL\), representing a 19-percentage-point increase.

Evidence · text

> The 71% result represents a 19-percentage-point increase, or approximately 37% more gold recovered relative to the initial direct-cyanidation test under the specific laboratory conditions tested.

**Bench Scale Only**

Polarity: negative

Definition: Only preliminary bench tests completed — no locked-cycle or pilot work.

Why it applies: The metallurgical test work described is laboratory-scale, not pilot or locked-cycle scale.

Evidence · text

> Kookynie Tailings - laboratory-scale gold recovery progression.

**QP/CP Signed**

Polarity: positive

Story-specific tag

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: Exploration results are reviewed by Mr Jason N Livingstone, a Member of the Australasian Institute of Mining and Metallurgy \(AusIMM\).

Evidence · text

> The information in this report that relates to Exploration Results is based on, and fairly represents, information and supporting documentation prepared and/or reviewed by Mr Jason N Livingstone, a Member of the Australasian Institute of Mining and Metallurgy \(AusIMM\).

**QA/QC Disclosed**

Polarity: positive

Story-specific tag

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: The document states that exploration results are reviewed by a Competent Person and metallurgical test work had applicable Competent Person statements.

Evidence · text

> The information in this report that relates to Exploration Results is based on, and fairly represents, information and supporting documentation prepared and/or reviewed by Mr Jason N Livingstone, a Member of the Australasian Institute of Mining and Metallurgy \(AusIMM\).

**Mill Route**

Polarity: neutral

Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\).

Why it applies: the document describes a mill\_cil route \("CIL"\)

**Gravity Route**

Polarity: neutral

Definition: Gravity separation forms a material part of the flowsheet.

Why it applies: the document describes a gravity route \("gravity"\)

**Multi-Domain Tested**

Polarity: positive

Definition: Variability across ore domains \(oxide, transition, fresh\) has been addressed.

Why it applies: 2 distinct composites were tested

## Extracted facts

Stored fact records: 32. Some facts used in scoring do not have a stored record.

## Metallurgical Results (32)

### cyanidation

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-0)

Kookynie Gold Tailings Project · gold

#### Identity

- Project: Kookynie Gold Tailings Project
- Commodity: gold
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: NME

#### Test Work

- Test Type: cyanidation
- Processing Route: direct cyanidation
- Sample: Raw / unground tailings

#### Recovery

- Recovery: 52 %
- Recovery Basis: actual\_test
- Head Grade: 0.94
- Head Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: This is a baseline recovery for direct cyanidation, which is moderate but provides a starting point for optimization.

- Negative factor: Recovery is moderate for direct cyanidation.

Evidence · table

> 52%

Context: Raw / unground

#### Tags used in scoring

**Low Recovery**

Polarity: negative

Definition: Recovery below the weak band for the commodity and processing route.

Why it applies: 52% is below the weak band \(80%\)

### carbon-in-leach

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-1)

Kookynie Gold Tailings Project · gold

#### Identity

- Project: Kookynie Gold Tailings Project
- Commodity: gold
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: NME

#### Test Work

- Test Type: carbon-in-leach
- Processing Route: carbon-in-leach \(CIL\)
- Sample: Raw / unground tailings

#### Recovery

- Recovery: 59 %
- Recovery Basis: actual\_test
- Head Grade: 0.94
- Head Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The CIL process showed an improvement in gold recovery over direct cyanidation, indicating a more effective processing route, though the recovery is still moderate.

- Positive factor: Improved recovery compared to direct cyanidation.

- Negative factor: Recovery is still moderate for CIL.

Evidence · table

> 59%

Context: Raw / unground

#### Tags used in scoring

**Mill Route**

Polarity: neutral

Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\).

Why it applies: processing\_route matches the mill\_cil signal

**Low Recovery**

Polarity: negative

Definition: Recovery below the weak band for the commodity and processing route.

Why it applies: 59% is below the weak band \(80%\)

### carbon-in-leach

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-2)

Kookynie Gold Tailings Project · gold

#### Identity

- Project: Kookynie Gold Tailings Project
- Commodity: gold
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: NME

#### Test Work

- Test Type: carbon-in-leach
- Processing Route: light grind + carbon-in-leach \(CIL\)
- Sample: Lightly ground tailings to P80 106 μm
- Grind P80: 106 µm

#### Recovery

- Recovery: 71 %
- Recovery Basis: actual\_test
- Head Grade: 0.94
- Head Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: Achieving 71% gold recovery with light grinding and CIL is a material improvement, demonstrating a viable processing pathway for the tailings, although further optimization may be needed.

- Positive factor: Significant improvement in gold recovery with grinding and CIL.

- Positive factor: Represents a 19-percentage-point increase over direct cyanidation.

- Negative factor: Recovery is still below strong/exceptional thresholds for CIL.

Evidence · table

> 71%

Context: P80 106 μm

#### Tags used in scoring

**Mill Route**

Polarity: neutral

Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\).

Why it applies: processing\_route matches the mill\_cil signal

**Low Recovery**

Polarity: negative

Definition: Recovery below the weak band for the commodity and processing route.

Why it applies: 71% is below the weak band \(80%\)

### Fact 4

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-3)

Kookynie Gold Tailings Project · gold

#### Identity

- Project: Kookynie Gold Tailings Project
- Commodity: gold
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: NME

#### Recovery

- Head Grade: 0.94
- Head Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The head grade provides context for the metallurgical test work results.

Evidence · text

> Two approximately 50 kg bulk samples returned head grades of 0.94 g/t Au and 0.96 g/t Au.

### Fact 5

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-4)

Kookynie Gold Tailings Project · tungsten

#### Identity

- Project: Kookynie Gold Tailings Project
- Commodity: tungsten
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: NME

#### Recovery

- Head Grade: 0.063
- Head Grade Unit: % WO3

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The identification of scheelite and its reporting to gravity concentrate suggests potential for byproduct recovery, enhancing project economics.

- Positive factor: Identification of scheelite as a potential byproduct adds value to the project.

Evidence · text

> Sample CAC069 returned 0.05% W, equivalent to 0.063% WO3.

### Fact 6

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-5)

Yundamindra and Kookynie Gold Projects

#### Identity

- Project: Yundamindra and Kookynie Gold Projects
- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The divestment generated cash, eliminated funding obligations, and maintained exposure, significantly de-risking the company's financial position.

- Positive factor: Provided net cash consideration of $0.5 million.

- Positive factor: Extinguished outstanding JV funding obligations.

- Positive factor: Retained indirect project exposure through equity in Arika.

Evidence · text

> net cash consideration of approximately $0.5 million and retaining indirect exposure through an Arika shareholding.

### Fact 7

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-6)

Western Australian Gold Joint Venture

#### Identity

- Project: Western Australian Gold Joint Venture
- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The formation of the JV with WTAC is highly positive, securing funding and operational leadership for NME while expanding its exploration opportunities in Western Australia.

- Positive factor: Secured a joint venture partner \(WTAC\) for gold exploration and mining.

- Positive factor: WTAC provides 100% of JV funding as an unsecured loan, reducing NME's financial burden.

- Positive factor: NME retains 40% interest and leads operational execution.

Evidence · text

> WTAC to own 60% and NME to own 40% of the JV company

### Fact 8

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-7)

West Point Gold-Copper Project · gold

#### Identity

- Project: West Point Gold-Copper Project
- Commodity: gold
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The application for a new tenement with historical gold-copper mineralization is a positive step for exploration, though the historical data requires validation.

- Positive factor: Application for a new exploration tenement expands the project portfolio.

- Positive factor: Historical exploration identified anomalous gold-copper mineralisation.

- Negative factor: Historical exploration results have not been independently validated.

Evidence · text

> application for ELA52/2564 covering the West Point Gold-Copper Project

### Fact 9

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-8)

East Scotia Gold Project · gold

#### Identity

- Project: East Scotia Gold Project
- Commodity: gold
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The application for new tenements expands the company's land position in a prospective gold region, indicating future exploration potential.

- Positive factor: Expansion of the East Scotia Gold Project through new tenement applications.

- Negative factor: Applications are pending grant and do not yet confer exploration rights.

Evidence · table

> 190.2

Context: E29/1349

### Fact 10

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-9)

East Scotia Gold Project · gold

#### Identity

- Project: East Scotia Gold Project
- Commodity: gold
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The application for new tenements expands the company's land position in a prospective gold region, indicating future exploration potential.

- Positive factor: Expansion of the East Scotia Gold Project through new tenement applications.

- Negative factor: Applications are pending grant and do not yet confer exploration rights.

Evidence · table

> 207.8

Context: E29/1350

### Fact 11

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-10)

East Scotia Gold Project · gold

#### Identity

- Project: East Scotia Gold Project
- Commodity: gold
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The application for new tenements expands the company's land position in a prospective gold region, indicating future exploration potential.

- Positive factor: Expansion of the East Scotia Gold Project through new tenement applications.

- Negative factor: Applications are pending grant and do not yet confer exploration rights.

Evidence · table

> 208.7

Context: E29/1351

### Fact 12

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-11)

East Scotia Gold Project · gold

#### Identity

- Project: East Scotia Gold Project
- Commodity: gold
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The application for new tenements expands the company's land position in a prospective gold region, indicating future exploration potential.

- Positive factor: Expansion of the East Scotia Gold Project through new tenement applications.

- Negative factor: Applications are pending grant and do not yet confer exploration rights.

Evidence · table

> 131.2

Context: E29/1352

### Fact 13

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-12)

Keith–Kilkenny Trend · gold

#### Identity

- Project: Keith–Kilkenny Trend
- Commodity: gold
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The application for new tenements expands the company's land position in a prospective gold region, indicating future exploration potential.

- Positive factor: Expansion of land position in the Keith–Kilkenny Trend through new tenement applications.

- Negative factor: Applications are pending grant and do not yet confer exploration rights.

Evidence · table

> 20.7

Context: E28/3619

### Fact 14

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-13)

Keith–Kilkenny Trend · gold

#### Identity

- Project: Keith–Kilkenny Trend
- Commodity: gold
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The application for new tenements expands the company's land position in a prospective gold region, indicating future exploration potential.

- Positive factor: Expansion of land position in the Keith–Kilkenny Trend through new tenement applications.

- Negative factor: Applications are pending grant and do not yet confer exploration rights.

Evidence · table

> 43.1

Context: E28/3620

### Fact 15

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-14)

Keith–Kilkenny Trend · gold

#### Identity

- Project: Keith–Kilkenny Trend
- Commodity: gold
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The application for new tenements expands the company's land position in a prospective gold region, indicating future exploration potential.

- Positive factor: Expansion of land position in the Keith–Kilkenny Trend through new tenement applications.

- Negative factor: Applications are pending grant and do not yet confer exploration rights.

Evidence · table

> 207.2

Context: E28/3621

### Fact 16

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-15)

Keith–Kilkenny Trend · gold

#### Identity

- Project: Keith–Kilkenny Trend
- Commodity: gold
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The application for new tenements expands the company's land position in a prospective gold region, indicating future exploration potential.

- Positive factor: Expansion of land position in the Keith–Kilkenny Trend through new tenement applications.

- Negative factor: Applications are pending grant and do not yet confer exploration rights.

Evidence · table

> 207.3

Context: E28/3622

### Fact 17

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-16)

Keith–Kilkenny Trend · gold

#### Identity

- Project: Keith–Kilkenny Trend
- Commodity: gold
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The application for new tenements expands the company's land position in a prospective gold region, indicating future exploration potential.

- Positive factor: Expansion of land position in the Keith–Kilkenny Trend through new tenement applications.

- Negative factor: Applications are pending grant and do not yet confer exploration rights.

Evidence · table

> 195.9

Context: E31/1478

### Fact 18

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-17)

Keith–Kilkenny Trend · gold

#### Identity

- Project: Keith–Kilkenny Trend
- Commodity: gold
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The application for new tenements expands the company's land position in a prospective gold region, indicating future exploration potential.

- Positive factor: Expansion of land position in the Keith–Kilkenny Trend through new tenement applications.

- Negative factor: Applications are pending grant and do not yet confer exploration rights.

Evidence · table

> 207.6

Context: E28/3623

### Fact 19

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-18)

Keith–Kilkenny Trend · gold

#### Identity

- Project: Keith–Kilkenny Trend
- Commodity: gold
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The application for new tenements expands the company's land position in a prospective gold region, indicating future exploration potential.

- Positive factor: Expansion of land position in the Keith–Kilkenny Trend through new tenement applications.

- Negative factor: Applications are pending grant and do not yet confer exploration rights.

Evidence · table

> 208.1

Context: E31/1472

### Fact 20

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-19)

Keith–Kilkenny Trend · gold

#### Identity

- Project: Keith–Kilkenny Trend
- Commodity: gold
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The application for new tenements expands the company's land position in a prospective gold region, indicating future exploration potential.

- Positive factor: Expansion of land position in the Keith–Kilkenny Trend through new tenement applications.

- Negative factor: Applications are pending grant and do not yet confer exploration rights.

Evidence · table

> 208.4

Context: E31/1474

### Fact 21

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-20)

Keith–Kilkenny Trend · gold

#### Identity

- Project: Keith–Kilkenny Trend
- Commodity: gold
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The application for new tenements expands the company's land position in a prospective gold region, indicating future exploration potential.

- Positive factor: Expansion of land position in the Keith–Kilkenny Trend through new tenement applications.

- Negative factor: Applications are pending grant and do not yet confer exploration rights.

Evidence · table

> 208.6

Context: E31/1475

### Fact 22

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-21)

Keith–Kilkenny Trend · gold

#### Identity

- Project: Keith–Kilkenny Trend
- Commodity: gold
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The application for new tenements expands the company's land position in a prospective gold region, indicating future exploration potential.

- Positive factor: Expansion of land position in the Keith–Kilkenny Trend through new tenement applications.

- Negative factor: Applications are pending grant and do not yet confer exploration rights.

Evidence · table

> 207.8

Context: E31/1476

### Fact 23

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-22)

Keith–Kilkenny Trend · gold

#### Identity

- Project: Keith–Kilkenny Trend
- Commodity: gold
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The application for new tenements expands the company's land position in a prospective gold region, indicating future exploration potential.

- Positive factor: Expansion of land position in the Keith–Kilkenny Trend through new tenement applications.

- Negative factor: Applications are pending grant and do not yet confer exploration rights.

Evidence · table

> 20.9

Context: E31/1477

### Fact 24

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-23)

Keith–Kilkenny Trend · gold

#### Identity

- Project: Keith–Kilkenny Trend
- Commodity: gold
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The application for new tenements expands the company's land position in a prospective gold region, indicating future exploration potential.

- Positive factor: Expansion of land position in the Keith–Kilkenny Trend through new tenement applications.

- Negative factor: Applications are pending grant and do not yet confer exploration rights.

Evidence · table

> 211.0

Context: E31/1473

### Fact 25

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-25)

#### Identity

- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: Reporting a profit after tax is a highly material positive development, indicating improved financial performance for the year.

- Positive factor: Significant turnaround from a loss in the previous year to a profit.

Evidence · text

> The profit after taxation of the consolidated entity for the year ended 30 June 2026 was $557,633

### Fact 26

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-26)

#### Identity

- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The substantial loss in the prior year highlights the financial challenges the company faced, making the current year's profit more significant.

- Negative factor: Significant loss reported in the previous year.

Evidence · text

> \(2025: loss of $1,844,575\)

### Fact 27

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-27)

#### Identity

- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: Despite a decrease, the presence of net liabilities and the auditor's going concern warning are highly material negative indicators of financial health.

- Positive factor: Decrease in net liabilities compared to the previous year.

- Negative factor: The company still has net liabilities, indicating financial weakness.

- Negative factor: Auditors highlighted a material uncertainty regarding going concern due to net liabilities.

Evidence · text

> The consolidated entity had net liabilities of $471,232 as at 30 June 2026

### Fact 28

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-28)

#### Identity

- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The substantial net liabilities in the prior year underscore the financial challenges the company has been addressing.

- Negative factor: Significant net liabilities in the previous year.

Evidence · text

> from net liabilities of $1,427,257 at 30 June 2025.

### Fact 29

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-29)

#### Identity

- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: An increase in cash and cash equivalents provides some liquidity, which is a positive for operations, especially given the net liabilities.

- Positive factor: Increased cash and cash equivalents compared to the previous year.

Evidence · text

> Cash and cash equivalents 21a\) 422,452

### Fact 30

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-30)

#### Identity

- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The substantial financial asset, primarily Arika shares, represents a valuable holding that could be used to fund future commitments.

- Positive factor: Significant financial asset holding \(Arika shares\) provides potential future liquidity.

Evidence · text

> Financial asset 5 1,274,823

### Fact 31

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-31)

#### Identity

- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The unlisted options represent potential future dilution if exercised, but also potential capital inflow for the company.

Evidence · text

> Unlisted Options 4,000,000 4 17th September 2027

### Fact 32

[Link to this fact](https://atlas-staging.minestarters.com/news/nme-annual-report-to-shareholders--39a054e4-1dfd-4ab0-a758-147c39ae727a#fact-metallurgical-facts-32)

#### Identity

- Ticker: NME

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: The disclosure of a qualified person for exploration results enhances the credibility and reliability of the reported information.

- Positive factor: Exploration results are reviewed by a qualified and competent person \(Jason N Livingstone\).

Evidence · text

> The information in this report that relates to Exploration Results is based on, and fairly represents, information and supporting documentation prepared and/or reviewed by Mr Jason N Livingstone, a Member of the Australasian Institute of Mining and Metallurgy \(AusIMM\).

## 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.