AUSTRAL RESOURCES AUSTRALIA LIMITED (AR1)
Share Price Analysis and Chart

29/07/2026

1

Buy

$0.17

165.63%

Austral Resources Australia will terminate its obligations to Glencore and Secover under the Anthill Project Agreement, which "ringfenced" copper production from the Anthill open pit for the repayment of historical debt obligations.

The company will now retain all the economic benefit with consideration for the buy-out totalling $52m, comprising $37.6m cash and $14.4m equity. The equity component will be via issue of 159.8m new shares at 9c each.

Bell Potter lauds the outcome, believing it creates a step change in the outlook for the company. It is now a stand-alone pure copper play with plans to lift heap leach production to 20,000tpa in 2027.

Buy rating and 17c target maintained.

FORECAST
Bell Potter forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.60 cents.
Bell Potter forecasts a full year FY27 dividend of 0.00 cents and EPS of 3.70 cents.

07/10/2026

1

Buy

$0.28

337.50%

Shaw and Partners maintains a Buy rating for Austral Resources Australia with a $0.28 target price following the registration of the Hammer Metals ((HMX)) scheme booklet by the corporate regulator.

The proposed merger aims to provide necessary ore feed for the Mt Kelly facility and the 3m tonnes per annum Rocklands sulphide concentrator.

The analyst notes the acquisition offers a capital-efficient growth pathway by adding resources and exploration upside to the existing 64m tonnes copper inventory.

The transaction involves issuing 1,157.1m new shares, resulting in a pro-forma cash balance of $45.4m and leaving the target company shareholders with a 30.4% stake in the combined entity.

With an independent expert concluding the arrangement is fair and reasonable alongside unanimous target board approval, Shaw anticipates a high likelihood of successful execution.

FORECAST
Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -14.70 cents.
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 1.00 cents.