Anax Metals Limited
Anax Metals is advancing the Whim Creek Copper Project in the Pilbara, Western Australia -- Definitive Feasibility Study complete, FEED work underway, with FID targeted for Q4 2026. Cash of ~A$12 million is a pro-forma figure, not yet audited, flagged as such; the Jetosea loan has been repaid, leaving the company debt-free.
Notable vs. Peers
- Financials score of 10/10 is stronger than the peer average of 6.2/10.
- Trading within 8% of its 52-week high — strong recent price momentum.
Lifecycle Milestones
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.
Your Rankings
Management Team
Managing Director of Anax Metals Limited. A Chemical Engineer with 30 years in mining and project development, spanning operations design and corporate roles.
Chief Financial Officer of Anax Metals Limited (BCompt, CAANZ, GAICD). A Chartered Accountant who joined in 2020, overseeing corporate risk management and financial reporting. Previously CFO at Predictive Discovery Limited (ASX:PDI).
Chief Operating Officer of Anax Metals Limited (M.Eng, CPEng, FIEAust, MAICD). A mechanical engineer with over 20 years delivering major projects across the copper, coal, iron ore, gold and critical minerals sectors.
General Manager of Anax Metals Limited (BSc Hons Geology, PG Dip GIS, Grad Cert Mineral Economics, MAIG). Over 20 years' experience in project management, project development, resource geology and exploration across multiple commodities, including recent roles in project development and regulatory approvals for mining projects in Australia and the United States.
Environmental Manager of Anax Metals Limited (Bachelor of Environmental Science). Over 15 years' experience in environmental management across mining, oil and gas, construction and government sectors, with recent focus on environmental permitting of mining projects in Western Australia.
Company Secretary of Anax Metals Limited (Chartered Accountant). Principal at Automic Group, specialising in company secretarial services for public companies; also serves as Non-executive Director for Metalicity Limited and Company Secretary for multiple other ASX-listed entities.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
The largest outside holder here is a Hong Kong-listed commodities trading and processing company that only recently announced a pivot toward critical minerals, and its stake -- held since 2018 -- predates that pivot and sits below the level where this metric gives real credit either as a producer or a specialist fund. No other qualifying holder was found.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Whim Creek Copper-Zinc Project (Pilbara, Western Australia; Anax Metals holds 80%), FEASIBILITY stage, targeting Q4 2026 Final Investment Decision (FEED commenced 27 Jul 2026). DFS Update announced 24 Feb 2026 (base-case scenario, forecast commodity prices): PRE-TAX NPV7 (7% real discount rate) = AUD501 million (written here, converted to US$353.6M at 0.7058 USD/AUD, 10 Aug 2026 reference spot -- same rate/rationale as Task #317 wave 8's ORN/CYM/BML), PRE-TAX IRR = 98% (up from 54% in the prior, April 2023 original DFS). At spot prices (not written -- base case per repo convention): NPV7=AUD649M, IRR=118%. Free cash flow AUD723 million over the 10-year mine life (8.5 years of open pit and underground mining). Payback 14 months base case. Pre-production capex AUD91 million total (Anax's 80% share AUD76 million). Ore Reserves 4.61 Mt @ 1.36% Cu, 2.31% Zn, 0.67% Pb, 30 g/t Ag, 0.27 g/t Au. NO AFTER-TAX (post-tax) NPV/IRR was found in any source checked this pass (multiple independent outlets -- Small Caps, Mining.com.au, TradingView -- all report only the pre-tax headline figures) -- PRE-TAX figures written here per the same precedent as Task #317 wave 7's POL and wave 8's BML, explicitly flagged as pre-tax, NOT the after-tax convention used elsewhere in this DB. Anax's 80% JV partner interest is not netted out of these 100%-project-basis figures (per repo convention: headline project economics as disclosed, not equity-adjusted).