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

29/07/2026

1

Buy

$0.17

150.00%

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.

13/08/2026

1

Buy

$0.28

311.76%

Shaw and Partners maintains a Buy rating for Austral Resources Australia with its target price decreased to $0.28 from $0.42 following the announcement of a binding Scheme Implementation Deed to acquire Hammer Metals.

Hammer shareholders will receive 1.2903 Austral shares plus $0.007 per share from the demerger of Hammer's Western Australian gold assets, valuing the target entity at $80.7m and giving Hammer shareholders a 31.1% stake in the enlarged group post-completion.

A key strategic driver of the acquisition is securing Hammer's 39.2mt Kalman copper resource, located 60km from Austral's 3.0mtpa Rocklands flotation plant, providing a dedicated, long-duration regional feed source.

The analyst notes this eliminates reliance on complex or margin-dilutive third-party tolling arrangements while maximising long-term capacity utilisation across the Rocklands processing infrastructure.

The broker's estimates factor in dilution from the 1.199bn new ordinary shares required for the transaction, driving the reduction in target price.

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.