# OCT: Full Year Statutory Accounts Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/oct-full-year-statutory-accounts--566066fe-6471-4310-af9c-5ebc737feff0 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03145439 Publisher: asx Original announcement: 2026-09-29T06:40:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-29T15:12:10.442Z Atlas analysis updated: 2026-09-29T15:12:10.442Z - Company: Octava Minerals Limited - Ticker: OCT - Exchange: ASX - Region: Western Australia - Primary commodity: Rare earth elements - Secondary commodities: Lithium, Vanadium, Copper, Zinc, Silver, Tin, Indium, Antimony, Nickel, Platinum, Fluorspar - Document categories: Drill results, Capital raise, Agreement transaction, Other, Metallurgy - Extracted: 2026-09-29 15:12:11 UTC Narrative sentiment: -0.20 · Bearish ## Minestarters Atlas summary Octava Minerals Ltd reported a net loss of $2.65 million for the year ended June 30, 2026, with cash and cash equivalents decreasing to $356,007. The company wrote off $1.73 million in exploration expenditure for the Yallalong and Federation projects, leading to an auditor's note on going concern uncertainty. Post-period, Octava announced a capital raise of up to $2.3 million and a binding agreement for a fluorspar project acquisition in Argentina, while also highlighting positive bioleaching results from its Byro Critical Minerals Project. Reasoning: Octava Minerals reported a substantial financial loss and auditor-flagged going concern uncertainty, exacerbated by project write-offs. However, the company completed a key acquisition, highlighted positive metallurgical results for its principal project, and announced a significant post-period capital raise and a new acquisition, indicating ongoing efforts to fund and advance its critical minerals portfolio. - Positive factor: Acquisition of Byro Critical Minerals Project completed - Positive factor: Positive bioleaching testwork results for Byro - Positive factor: Significant capital raise announced post-period - Positive factor: Potential new acquisition in Argentina diversifies commodity portfolio - Positive factor: R&D tax incentive refund received - Negative factor: Significant net loss for the year - Negative factor: Cash and cash equivalents decreased substantially - Negative factor: Exploration and evaluation expenditure written off for two projects - Negative factor: Auditor's report highlights material uncertainty related to going concern - Negative factor: Federation project option not exercised, costs written off - Negative factor: Share price decline Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 27 ## Classification and evidence **Going Concern** Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Why it applies: The auditor's report explicitly highlights a 'Material Uncertainty Related to Going Concern' in Note 2\(f\) due to the company's net loss and cash outflows. Evidence · text > Material Uncertainty Related to Going Concern We draw attention to Note 2\(f\) in the financial report, which indicates that a material uncertainty exists that may cast significant doubt on the Group’s ability to continue as a going concern. **Stale Data Re-release** Polarity: negative Story-specific tag Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: The document summarizes bioleaching testwork results for Byro that were 'announced on 21 August 2025 and 2 October 2025 respectively', indicating these are not new assays. Evidence · text > Bioleaching testwork on Byro black shale material was completed during the year by two independent groups, BiotaTec in Europe and CSIRO in Australia, with results announced on 21 August 2025 and 2 October 2025 respectively. **Stale Data Re-release** Polarity: negative Story-specific tag Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: The document summarizes maiden exploration drilling program results for Byro, explicitly stating 'refer ASX announcement dated 14 July 2026', indicating these are not new assays. Evidence · text > Significant three metre intervals returned grades of up to 628 ppm TREO, 368 ppm Li₂O and 507 ppm V₂O₅ \(refer ASX announcement dated 14 July 2026\). **Stale Data Re-release** Polarity: negative Story-specific tag Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: The document summarizes drilling results for the Federation Project, explicitly stating 'refer ASX announcements dated 5 November 2025, 25 November 2025 and 29 April 2026', indicating these are not new assays. Evidence · text > Significant intercepts reported included 15.6 metres at 0.53% copper... \(refer ASX announcements dated 5 November 2025, 25 November 2025 and 29 April 2026\). ## Extracted facts Stored fact records: 24. Some facts used in scoring do not have a stored record. ## Drill Results (18) ### Fact 1 [Link to this fact](https://atlas-staging.minestarters.com/news/oct-full-year-statutory-accounts--566066fe-6471-4310-af9c-5ebc737feff0#fact-drill-facts-6) Byro Critical Minerals · treo Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Byro Critical Minerals - Commodity: treo - Region: australia\_wa - Reported Region: australia\_wa - Ticker: OCT #### Geometry - Grade: 628 - Grade Unit: ppm - Intercept: 3 m #### Classification - Program: exploration - Sample Type: drill #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-07-14T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Maiden drilling at Byro returned significant grades for TREO, indicating prospectivity, but these results were previously announced. - Positive factor: Significant grade for TREO - Positive factor: From maiden exploration drilling program - Negative factor: Results are historical, previously announced - Negative factor: Only 'three metre intervals' mentioned, no specific hole IDs Evidence · text > Significant three metre intervals returned grades of up to 628 ppm TREO #### 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 ### Fact 2 [Link to this fact](https://atlas-staging.minestarters.com/news/oct-full-year-statutory-accounts--566066fe-6471-4310-af9c-5ebc737feff0#fact-drill-facts-7) Byro Critical Minerals · lithium Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Byro Critical Minerals - Commodity: lithium - Region: australia\_wa - Reported Region: australia\_wa - Ticker: OCT #### Geometry - Grade: 368 - Grade Unit: ppm Li₂O - Intercept: 3 m #### Classification - Program: exploration - Sample Type: drill #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-07-14T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Maiden drilling at Byro returned significant grades for lithium, indicating prospectivity, but these results were previously announced. - Positive factor: Significant grade for lithium - Positive factor: From maiden exploration drilling program - Negative factor: Results are historical, previously announced - Negative factor: Only 'three metre intervals' mentioned, no specific hole IDs Evidence · text > 368 ppm Li₂O #### 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 ### Fact 3 [Link to this fact](https://atlas-staging.minestarters.com/news/oct-full-year-statutory-accounts--566066fe-6471-4310-af9c-5ebc737feff0#fact-drill-facts-8) Byro Critical Minerals · vanadium Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Byro Critical Minerals - Commodity: vanadium - Region: australia\_wa - Reported Region: australia\_wa - Ticker: OCT #### Geometry - Grade: 507 - Grade Unit: ppm V₂O₅ - Intercept: 3 m #### Classification - Program: exploration - Sample Type: drill #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-07-14T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Maiden drilling at Byro returned significant grades for vanadium, indicating prospectivity, but these results were previously announced. - Positive factor: Significant grade for vanadium - Positive factor: From maiden exploration drilling program - Negative factor: Results are historical, previously announced - Negative factor: Only 'three metre intervals' mentioned, no specific hole IDs Evidence · text > 507 ppm V₂O₅ #### 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 ### OFD005 [Link to this fact](https://atlas-staging.minestarters.com/news/oct-full-year-statutory-accounts--566066fe-6471-4310-af9c-5ebc737feff0#fact-drill-facts-9) Federation · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: OFD005 - Project: Federation - Commodity: copper - Region: australia\_tas - Reported Region: australia\_tas - Ticker: OCT #### Geometry - Grade: 0.53 - Grade Unit: % - Intercept: 15.6 m - From: 126.4 m - To: 142 m - Intercept Depth: 126.4 m #### Classification - Program: exploration - Sample Type: drill - Group ID: OFD005:126.4-142 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-11-05T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Drilling at Federation returned a significant copper intercept, but the company decided not to proceed with the project acquisition. - Positive factor: Significant intercept length and grade for copper - Negative factor: Results are historical, previously announced - Negative factor: Company resolved not to proceed with project acquisition Evidence · text > 15.6 metres at 0.53% copper #### 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 ### OFD005 [Link to this fact](https://atlas-staging.minestarters.com/news/oct-full-year-statutory-accounts--566066fe-6471-4310-af9c-5ebc737feff0#fact-drill-facts-10) Federation · indium Historical result Needs review: historical\_restatement #### Identity - Hole ID: OFD005 - Project: Federation - Commodity: indium - Region: australia\_tas - Reported Region: australia\_tas - Ticker: OCT #### Geometry - Grade: 204.7 - Grade Unit: ppm - Intercept: 15.6 m - From: 126.4 m - To: 142 m - Intercept Depth: 126.4 m #### Classification - Program: exploration - Sample Type: drill - Group ID: OFD005:126.4-142 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-11-05T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Drilling at Federation returned a significant indium intercept, but the company decided not to proceed with the project acquisition. - Positive factor: Significant intercept length and grade for indium - Negative factor: Results are historical, previously announced - Negative factor: Company resolved not to proceed with project acquisition Evidence · text > 204.7 ppm indium #### 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 ### OFD005 [Link to this fact](https://atlas-staging.minestarters.com/news/oct-full-year-statutory-accounts--566066fe-6471-4310-af9c-5ebc737feff0#fact-drill-facts-11) Federation · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: OFD005 - Project: Federation - Commodity: silver - Region: australia\_tas - Reported Region: australia\_tas - Ticker: OCT #### Geometry - Grade: 59.6 - Grade Unit: ppm - Intercept: 15.6 m - From: 126.4 m - To: 142 m - Intercept Depth: 126.4 m #### Classification - Program: exploration - Sample Type: drill - Group ID: OFD005:126.4-142 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-11-05T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Drilling at Federation returned a significant silver intercept, but the company decided not to proceed with the project acquisition. - Positive factor: Significant intercept length and grade for silver - Negative factor: Results are historical, previously announced - Negative factor: Company resolved not to proceed with project acquisition Evidence · text > 59.6 ppm silver #### 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 ### OFD005 [Link to this fact](https://atlas-staging.minestarters.com/news/oct-full-year-statutory-accounts--566066fe-6471-4310-af9c-5ebc737feff0#fact-drill-facts-12) Federation · tin Historical result Needs review: historical\_restatement #### Identity - Hole ID: OFD005 - Project: Federation - Commodity: tin - Region: australia\_tas - Reported Region: australia\_tas - Ticker: OCT #### Geometry - Grade: 0.4 - Grade Unit: % - Intercept: 15.6 m - From: 126.4 m - To: 142 m - Intercept Depth: 126.4 m #### Classification - Program: exploration - Sample Type: drill - Group ID: OFD005:126.4-142 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-11-05T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Drilling at Federation returned a significant tin intercept, but the company decided not to proceed with the project acquisition. - Positive factor: Significant intercept length and grade for tin - Negative factor: Results are historical, previously announced - Negative factor: Company resolved not to proceed with project acquisition Evidence · text > 0.40% tin #### 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 ### OFD005 [Link to this fact](https://atlas-staging.minestarters.com/news/oct-full-year-statutory-accounts--566066fe-6471-4310-af9c-5ebc737feff0#fact-drill-facts-13) Federation · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: OFD005 - Project: Federation - Commodity: copper - Region: australia\_tas - Reported Region: australia\_tas - Ticker: OCT #### Geometry - Grade: 0.79 - Grade Unit: % - Intercept: 6 m - From: 130 m - To: 136 m - Intercept Depth: 130 m #### Classification - Program: exploration - Sample Type: drill - Group ID: OFD005:130-136 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-11-05T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Drilling at Federation returned a higher-grade copper sub-intercept, but the company decided not to proceed with the project acquisition. - Positive factor: Higher-grade sub-intercept for copper - Negative factor: Results are historical, previously announced - Negative factor: Company resolved not to proceed with project acquisition Evidence · text > 6 metres at 0.79% copper #### 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 ### OFD005 [Link to this fact](https://atlas-staging.minestarters.com/news/oct-full-year-statutory-accounts--566066fe-6471-4310-af9c-5ebc737feff0#fact-drill-facts-14) Federation · indium Historical result Needs review: historical\_restatement #### Identity - Hole ID: OFD005 - Project: Federation - Commodity: indium - Region: australia\_tas - Reported Region: australia\_tas - Ticker: OCT #### Geometry - Grade: 336.7 - Grade Unit: ppm - Intercept: 6 m - From: 130 m - To: 136 m - Intercept Depth: 130 m #### Classification - Program: exploration - Sample Type: drill - Group ID: OFD005:130-136 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-11-05T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Drilling at Federation returned a higher-grade indium sub-intercept, but the company decided not to proceed with the project acquisition. - Positive factor: Higher-grade sub-intercept for indium - Negative factor: Results are historical, previously announced - Negative factor: Company resolved not to proceed with project acquisition Evidence · text > 336.7 ppm indium #### 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 ### OFD005 [Link to this fact](https://atlas-staging.minestarters.com/news/oct-full-year-statutory-accounts--566066fe-6471-4310-af9c-5ebc737feff0#fact-drill-facts-15) Federation · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: OFD005 - Project: Federation - Commodity: silver - Region: australia\_tas - Reported Region: australia\_tas - Ticker: OCT #### Geometry - Grade: 93.9 - Grade Unit: ppm - Intercept: 6 m - From: 130 m - To: 136 m - Intercept Depth: 130 m #### Classification - Program: exploration - Sample Type: drill - Group ID: OFD005:130-136 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-11-05T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Drilling at Federation returned a higher-grade silver sub-intercept, but the company decided not to proceed with the project acquisition. - Positive factor: Higher-grade sub-intercept for silver - Negative factor: Results are historical, previously announced - Negative factor: Company resolved not to proceed with project acquisition Evidence · text > 93.9 ppm silver #### 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 ### OFD005 [Link to this fact](https://atlas-staging.minestarters.com/news/oct-full-year-statutory-accounts--566066fe-6471-4310-af9c-5ebc737feff0#fact-drill-facts-16) Federation · tin Historical result Needs review: historical\_restatement #### Identity - Hole ID: OFD005 - Project: Federation - Commodity: tin - Region: australia\_tas - Reported Region: australia\_tas - Ticker: OCT #### Geometry - Grade: 0.59 - Grade Unit: % - Intercept: 6 m - From: 130 m - To: 136 m - Intercept Depth: 130 m #### Classification - Program: exploration - Sample Type: drill - Group ID: OFD005:130-136 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-11-05T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Drilling at Federation returned a higher-grade tin sub-intercept, but the company decided not to proceed with the project acquisition. - Positive factor: Higher-grade sub-intercept for tin - Negative factor: Results are historical, previously announced - Negative factor: Company resolved not to proceed with project acquisition Evidence · text > 0.59% tin #### 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 ### OFD003 [Link to this fact](https://atlas-staging.minestarters.com/news/oct-full-year-statutory-accounts--566066fe-6471-4310-af9c-5ebc737feff0#fact-drill-facts-17) Federation · antimony Historical result Needs review: historical\_restatement #### Identity - Hole ID: OFD003 - Project: Federation - Commodity: antimony - Region: australia\_tas - Reported Region: australia\_tas - Ticker: OCT #### Geometry - Grade: 1.85 - Grade Unit: % - Intercept: 2 m - From: 137 m - To: 139 m - Intercept Depth: 137 m #### Classification - Program: exploration - Sample Type: drill - Group ID: OFD003:137-139 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-11-05T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Drilling at Federation identified a previously unrecognised antimony lode with significant grades, but the company decided not to proceed with the project acquisition. - Positive factor: Significant grade for antimony - Positive factor: Identified a previously unrecognised lode - Negative factor: Results are historical, previously announced - Negative factor: Company resolved not to proceed with project acquisition Evidence · text > 2 metres at 1.85% antimony #### 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 ### OFD003 [Link to this fact](https://atlas-staging.minestarters.com/news/oct-full-year-statutory-accounts--566066fe-6471-4310-af9c-5ebc737feff0#fact-drill-facts-18) Federation · lead Historical result Needs review: historical\_restatement #### Identity - Hole ID: OFD003 - Project: Federation - Commodity: lead - Region: australia\_tas - Reported Region: australia\_tas - Ticker: OCT #### Geometry - Grade: 2.38 - Grade Unit: % - Intercept: 2 m - From: 137 m - To: 139 m - Intercept Depth: 137 m #### Classification - Program: exploration - Sample Type: drill - Group ID: OFD003:137-139 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-11-05T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Drilling at Federation identified a previously unrecognised lead lode with significant grades, but the company decided not to proceed with the project acquisition. - Positive factor: Significant grade for lead - Positive factor: Identified a previously unrecognised lode - Negative factor: Results are historical, previously announced - Negative factor: Company resolved not to proceed with project acquisition Evidence · text > 2.38% lead #### 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 ### OFD003 [Link to this fact](https://atlas-staging.minestarters.com/news/oct-full-year-statutory-accounts--566066fe-6471-4310-af9c-5ebc737feff0#fact-drill-facts-19) Federation · zinc Historical result Needs review: historical\_restatement #### Identity - Hole ID: OFD003 - Project: Federation - Commodity: zinc - Region: australia\_tas - Reported Region: australia\_tas - Ticker: OCT #### Geometry - Grade: 7.95 - Grade Unit: % - Intercept: 2 m - From: 137 m - To: 139 m - Intercept Depth: 137 m #### Classification - Program: exploration - Sample Type: drill - Group ID: OFD003:137-139 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-11-05T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Drilling at Federation identified a previously unrecognised zinc lode with significant grades, but the company decided not to proceed with the project acquisition. - Positive factor: Significant grade for zinc - Positive factor: Identified a previously unrecognised lode - Negative factor: Results are historical, previously announced - Negative factor: Company resolved not to proceed with project acquisition Evidence · text > 7.95% zinc #### 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 ### OFD006 [Link to this fact](https://atlas-staging.minestarters.com/news/oct-full-year-statutory-accounts--566066fe-6471-4310-af9c-5ebc737feff0#fact-drill-facts-20) Federation · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: OFD006 - Project: Federation - Commodity: copper - Region: australia\_tas - Reported Region: australia\_tas - Ticker: OCT #### Geometry - Grade: 0.86 - Grade Unit: % - Intercept: 1.65 m - From: 138.35 m - To: 140 m - Intercept Depth: 138.35 m #### Classification - Program: exploration - Sample Type: drill - Group ID: OFD006:138.35-140 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-11-05T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Drilling at Federation returned a significant copper intercept, but the company decided not to proceed with the project acquisition. - Positive factor: Significant grade for copper - Negative factor: Results are historical, previously announced - Negative factor: Company resolved not to proceed with project acquisition Evidence · text > 1.65 metres at 0.86% copper #### 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 ### OFD006 [Link to this fact](https://atlas-staging.minestarters.com/news/oct-full-year-statutory-accounts--566066fe-6471-4310-af9c-5ebc737feff0#fact-drill-facts-21) Federation · indium Historical result Needs review: historical\_restatement #### Identity - Hole ID: OFD006 - Project: Federation - Commodity: indium - Region: australia\_tas - Reported Region: australia\_tas - Ticker: OCT #### Geometry - Grade: 336.9 - Grade Unit: ppm - Intercept: 1.65 m - From: 138.35 m - To: 140 m - Intercept Depth: 138.35 m #### Classification - Program: exploration - Sample Type: drill - Group ID: OFD006:138.35-140 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-11-05T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Drilling at Federation returned a significant indium intercept, but the company decided not to proceed with the project acquisition. - Positive factor: Significant grade for indium - Negative factor: Results are historical, previously announced - Negative factor: Company resolved not to proceed with project acquisition Evidence · text > 336.9 ppm indium #### 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 ### OFD006 [Link to this fact](https://atlas-staging.minestarters.com/news/oct-full-year-statutory-accounts--566066fe-6471-4310-af9c-5ebc737feff0#fact-drill-facts-22) Federation · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: OFD006 - Project: Federation - Commodity: silver - Region: australia\_tas - Reported Region: australia\_tas - Ticker: OCT #### Geometry - Grade: 97.9 - Grade Unit: ppm - Intercept: 1.65 m - From: 138.35 m - To: 140 m - Intercept Depth: 138.35 m #### Classification - Program: exploration - Sample Type: drill - Group ID: OFD006:138.35-140 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-11-05T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Drilling at Federation returned a significant silver intercept, but the company decided not to proceed with the project acquisition. - Positive factor: Significant grade for silver - Negative factor: Results are historical, previously announced - Negative factor: Company resolved not to proceed with project acquisition Evidence · text > 97.9 ppm silver #### 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 ### OFD006 [Link to this fact](https://atlas-staging.minestarters.com/news/oct-full-year-statutory-accounts--566066fe-6471-4310-af9c-5ebc737feff0#fact-drill-facts-23) Federation · tin Historical result Needs review: historical\_restatement #### Identity - Hole ID: OFD006 - Project: Federation - Commodity: tin - Region: australia\_tas - Reported Region: australia\_tas - Ticker: OCT #### Geometry - Grade: 0.76 - Grade Unit: % - Intercept: 1.65 m - From: 138.35 m - To: 140 m - Intercept Depth: 138.35 m #### Classification - Program: exploration - Sample Type: drill - Group ID: OFD006:138.35-140 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-11-05T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Drilling at Federation returned a significant tin intercept, but the company decided not to proceed with the project acquisition. - Positive factor: Significant grade for tin - Negative factor: Results are historical, previously announced - Negative factor: Company resolved not to proceed with project acquisition Evidence · text > 0.76% tin #### 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 ## Metallurgical Results (6) ### bioleaching [Link to this fact](https://atlas-staging.minestarters.com/news/oct-full-year-statutory-accounts--566066fe-6471-4310-af9c-5ebc737feff0#fact-metallurgical-facts-0) Byro Critical Minerals Project · neodymium Historical result Needs review: historical\_restatement #### Identity - Project: Byro Critical Minerals Project - Commodity: neodymium - Region: australia\_wa - Reported Region: Western Australia - Ticker: OCT #### Test Work - Program Status: completed - Test Type: bioleaching - Processing Route: bioleaching #### Recovery - Recovery: 75 % - Recovery Basis: actual\_test #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-08-21T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Bioleaching testwork returned a strong recovery for neodymium, indicating potential for cost-effective processing, though these results were previously announced. - Positive factor: High recovery for a critical mineral - Positive factor: Bioleaching offers potential for reduced energy, reagent, and operating costs - Negative factor: Results are historical, previously announced Evidence · text > approximately 75% neodymium ### bioleaching [Link to this fact](https://atlas-staging.minestarters.com/news/oct-full-year-statutory-accounts--566066fe-6471-4310-af9c-5ebc737feff0#fact-metallurgical-facts-1) Byro Critical Minerals Project · praseodymium Historical result Needs review: historical\_restatement #### Identity - Project: Byro Critical Minerals Project - Commodity: praseodymium - Region: australia\_wa - Reported Region: Western Australia - Ticker: OCT #### Test Work - Program Status: completed - Test Type: bioleaching - Processing Route: bioleaching #### Recovery - Recovery: 69 % - Recovery Basis: actual\_test #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-08-21T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Bioleaching testwork returned a good recovery for praseodymium, indicating potential for cost-effective processing, though these results were previously announced. - Positive factor: Good recovery for a critical mineral - Positive factor: Bioleaching offers potential for reduced energy, reagent, and operating costs - Negative factor: Results are historical, previously announced Evidence · text > 69% praseodymium ### bioleaching [Link to this fact](https://atlas-staging.minestarters.com/news/oct-full-year-statutory-accounts--566066fe-6471-4310-af9c-5ebc737feff0#fact-metallurgical-facts-2) Byro Critical Minerals Project · dysprosium Historical result Needs review: historical\_restatement #### Identity - Project: Byro Critical Minerals Project - Commodity: dysprosium - Region: australia\_wa - Reported Region: Western Australia - Ticker: OCT #### Test Work - Program Status: completed - Test Type: bioleaching - Processing Route: bioleaching #### Recovery - Recovery: 70 % - Recovery Basis: actual\_test #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-08-21T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Bioleaching testwork returned a good recovery for dysprosium, indicating potential for cost-effective processing, though these results were previously announced. - Positive factor: Good recovery for a critical mineral - Positive factor: Bioleaching offers potential for reduced energy, reagent, and operating costs - Negative factor: Results are historical, previously announced Evidence · text > 70% dysprosium ### bioleaching [Link to this fact](https://atlas-staging.minestarters.com/news/oct-full-year-statutory-accounts--566066fe-6471-4310-af9c-5ebc737feff0#fact-metallurgical-facts-3) Byro Critical Minerals Project · lithium Historical result Needs review: historical\_restatement #### Identity - Project: Byro Critical Minerals Project - Commodity: lithium - Region: australia\_wa - Reported Region: Western Australia - Ticker: OCT #### Test Work - Program Status: completed - Test Type: bioleaching - Processing Route: bioleaching #### Recovery - Recovery: 62 % - Recovery Basis: actual\_test #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-08-21T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Bioleaching testwork returned a moderate recovery for lithium, indicating potential for cost-effective processing, though these results were previously announced. - Positive factor: Moderate recovery for a critical mineral - Positive factor: Bioleaching offers potential for reduced energy, reagent, and operating costs - Negative factor: Results are historical, previously announced Evidence · text > 62% lithium #### Tags used in scoring **Low Recovery** Polarity: negative Definition: Recovery below the weak band for the commodity and processing route. Why it applies: 62% is below the weak band \(65%\) ### bioleaching [Link to this fact](https://atlas-staging.minestarters.com/news/oct-full-year-statutory-accounts--566066fe-6471-4310-af9c-5ebc737feff0#fact-metallurgical-facts-4) Byro Critical Minerals Project · vanadium Historical result Needs review: historical\_restatement #### Identity - Project: Byro Critical Minerals Project - Commodity: vanadium - Region: australia\_wa - Reported Region: Western Australia - Ticker: OCT #### Test Work - Program Status: completed - Test Type: bioleaching - Processing Route: bioleaching #### Recovery - Recovery: 43 % - Recovery Basis: actual\_test #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-08-21T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Bioleaching testwork returned a moderate recovery for vanadium, indicating potential for cost-effective processing, though these results were previously announced. - Positive factor: Moderate recovery for a critical mineral - Positive factor: Bioleaching offers potential for reduced energy, reagent, and operating costs - Negative factor: Results are historical, previously announced Evidence · text > 43% vanadium ### bioleaching [Link to this fact](https://atlas-staging.minestarters.com/news/oct-full-year-statutory-accounts--566066fe-6471-4310-af9c-5ebc737feff0#fact-metallurgical-facts-5) Byro Critical Minerals Project · nickel Historical result Needs review: historical\_restatement #### Identity - Project: Byro Critical Minerals Project - Commodity: nickel - Region: australia\_wa - Reported Region: Western Australia - Ticker: OCT #### Test Work - Program Status: completed - Test Type: bioleaching - Processing Route: bioleaching #### Recovery - Recovery: 80 % - Recovery Basis: actual\_test #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-08-21T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Bioleaching testwork returned a strong recovery for nickel, indicating potential for cost-effective processing, though these results were previously announced. - Positive factor: High recovery for a critical mineral - Positive factor: Bioleaching offers potential for reduced energy, reagent, and operating costs - Negative factor: Results are historical, previously announced Evidence · text > 80% nickel ## 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.