# TYX: Annual Report to shareholders Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/tyx-annual-report-to-shareholders--8d468a91-2529-41c9-90eb-3be36f581cb3 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03146796 Publisher: asx Original announcement: 2026-09-30T08:59:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-30T09:13:15.790Z Atlas analysis updated: 2026-09-30T09:13:15.790Z - Company: Tyranna Resources Limited - Ticker: TYX - Exchange: ASX - Region: Angola - Primary commodity: Unavailable - Secondary commodities: Gold, Manganese, Lithium, Caesium, Rare earths, Niobium - Document categories: Other, Agreement transaction, Capital raise, Drill results - Extracted: 2026-09-30 09:13:16 UTC Narrative sentiment: -0.20 · Bearish ## Minestarters Atlas summary Tyranna Resources Limited's annual report for the year ended June 30, 2026, highlights a net loss of $3.72 million and a substantial cash outflow of $2.83 million, prompting the auditor to note a material uncertainty regarding the company's ability to continue as a going concern. Despite these financial challenges, the company actively pursued its strategy in battery and critical minerals in Angola, completing several acquisitions including Turaco Resources and a majority interest in AGFC E FILHOS, LDA, and a 20% interest in Angolan Minerals Pty Ltd. Post-period, Tyranna divested its Namibe Lithium and Caesium Project for US$1.37 million and entered into an earn-in agreement for the Coola Rare Earths and Niobium Project, alongside a $1 million capital raise. Reasoning: The annual report details significant financial losses and cash burn, leading to an auditor's going concern warning. However, it also outlines a series of strategic acquisitions and a divestment, alongside a new earn-in agreement, indicating active corporate development and a strategic shift towards battery and critical minerals, despite the financial challenges. - Positive factor: Strategic acquisitions expanding project portfolio - Positive factor: Divestment of non-core asset providing cash - Positive factor: New earn-in agreement for critical minerals - Negative factor: Significant net loss and cash outflow - Negative factor: Auditor's material uncertainty regarding going concern - Negative factor: Capital raise at low share price causing dilution Facts used in scoring: 11 ## Classification and evidence **Material Uncertainty** Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Why it applies: The auditor's report explicitly states a 'material uncertainty' regarding the company's ability to continue as a going concern due to net loss and cash outflow. Evidence · text > Material Uncertainty Related to Going Concern We draw attention to Note 1b in the financial report which indicates that the Company incurred a net loss of $3,719,942 during the year ended 30 June 2026. As stated in Note 1b, these events or conditions, along with other matters as set forth in Note 1b, indicate that a material uncertainty exists that may cast significant doubt on the Company’s ability to continue as a going concern. **Strategic Acquisition** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The company completed multiple acquisitions, including Turaco Resources, AGFC E FILHOS, Lda, and Angolan Minerals Pty Ltd, indicating a strategy of expanding its project portfolio. Evidence · text > On 26 July 2025, Tyranna completed the acquisition of a 100% interest in Turaco Resources Pty Ltd \(Turaco\)... In October 2025, the Company acquired shares in AGFC E FILHOS, LDA \(“AGFC”\)... In April 2026, Tyranna entered into a binding terms sheet to acquire 20% of Angolan Minerals Pty Ltd **Divestment** Polarity: neutral Story-specific tag Definition: No canonical definition is currently available. Why it applies: The company divested its 90% owned subsidiary holding the Namibe Lithium and Caesium Project, indicating a strategic decision to streamline its assets. Evidence · text > Subsequent to the end of the year, Tyranna completed a share purchase agreement to sell its 90% owned subsidiary, AM \(Mauritius\) Limited... thereby divesting its interest in the Namibe Lithium and Caesium Project **Capital Raise** Polarity: neutral Story-specific tag Definition: No canonical definition is currently available. Why it applies: The company conducted a placement to raise $1,000,000, which is a common method for junior explorers to secure funding. Evidence · text > On 16 July 2026, Tyranna issued 400,000,000 Shares at $0.0025 \(0.25 cents\) per Share... to raise $1,000,000 before costs \(Placement\). **Earn-in Agreement** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The company entered into an earn-in agreement to acquire up to a 70% interest in the Coola Rare Earths and Niobium Project, signaling new project development. Evidence · text > On 24 September 2026, the Company’s wholly owned subsidiary Luvulu \(Mauritius\) Limited entered into a binding Earn-In and Share Transfer Agreement to earn up to a 70% interest in Coola Mining Lda, the holder of the Coola Rare Earths and Niobium Project in Angola **Exploration Stage** Polarity: neutral Story-specific tag Definition: No canonical definition is currently available. Why it applies: The company is described as an 'ASX Listed explorer' and its principal activities are 'mineral exploration and project development', with ongoing early-stage exploration at the Chinguar Gold Project. Evidence · text > Tyranna Resources Limited \(“Tyranna” or “the Company”\) is an Australian ASX Listed explorer focused on discovery and development of battery and critical minerals in Angola, West Africa. ## Extracted facts Stored fact records: 1. Some facts used in scoring do not have a stored record. ## Drill Results (1) ### Fact 1 [Link to this fact](https://atlas-staging.minestarters.com/news/tyx-annual-report-to-shareholders--8d468a91-2529-41c9-90eb-3be36f581cb3#fact-drill-facts-10) Namibe · manganese #### Identity - Project: Namibe - Commodity: manganese - Region: angola - Reported Region: angola - Ticker: TYX #### Geometry - Grade: 30 - Grade Unit: % #### Classification - Sample Type: surface #### Location - Location: Mina de Colemba Prospect - Loc. Source: document #### QA/QC - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: High-grade manganese from surface rock chips indicates potential, but further work is needed to confirm economic viability. - Positive factor: High-grade surface sample - Positive factor: Indicates prospectivity - Negative factor: Limited sample size - Negative factor: Not a drill intercept Evidence · text > In addition, the Company reported high grade manganese assays exceeding 30% Mn which were returned from two of three rock chips from an outcrop at the Mina de Colemba Prospect. #### 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 ## 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.