Broken Hill Mines Limited

Notable vs. Peers

• Jurisdiction risk score of 9/10 is meaningfully safer than the peer average of 6.9/10.

Lifecycle Milestones

1. Permit granted

   Reached — date not disclosed · NSW Department of Planning granted development approval for the Rasp Mine redevelopment in January 2011, under then-owner CBH Resources Ltd (Toho Zinc Company subsidiary since its early-2010 takeover of CBH) -- more than a decade before Broken Hill Mines (formerly Coolabah Metals) acquired the operating mine on 31 Oct 2024. Exact day within January 2011 not confirmed by a primary NSW DoP or CBH ASX release retrievable in current search indices; recorded reached-but-undated, cited to aggregated project-history reporting. · Source
2. Construction decision (FID)

   Reached — date not disclosed · No separately labelled 'board sanctions construction' release located for CBH Resources/Toho Zinc's Rasp redevelopment. Toho Zinc's early-2010 takeover of CBH Resources explicitly made the Rasp redevelopment a priority, and the Jan 2011 NSW development approval (see PERMIT_GRANTED) was the practical gate that let construction proceed -- used here as the closest real analogue to a formal decision, per the same convention as EMR/ARTG in get-stage-milestone-violations.ts. · Source
3. Construction start

   Reached — date not disclosed · Underground development at Rasp recommenced in April 2011 under CBH Resources/Toho Zinc, continuing on schedule to construction completion in April 2012. Exact day not confirmed; recorded reached-but-undated. · Source
4. First pour / production

   May 2012 · First concentrate production at Rasp Mine under CBH Resources, per CBH's own 2012 investor presentation: practical completion 22 Apr 2012, first ore to mill 24 Apr 2012, first concentrate production 7 May 2012 -- more than 12 years before Broken Hill Mines (formerly Coolabah Metals) acquired the operating mine and its Broken Hill Operations Pty Ltd subsidiary from CBH on 31 Oct 2024. · Source
5. Commercial production

   Reached — date not disclosed · Genuinely reached, but a genuine two-part situation prevents a single clean date: the Rasp Mine (Broken Hill, NSW)'s ORIGINAL commercial production (officially opened 2012-07-25) was under the entirely different, unrelated CBH Resources/Toho Zinc Company ownership, decades before the current Broken Hill Mines Limited entity assumed ownership of the Rasp operator (BHO) only on 2024-10-31 (matching the Hemlo Mining Corp precedent -- predates current ownership under a different prior name); AND BHM's own restart since then has been ramping alongside a second mine, Pinnacles, also under its own restart -- a genuine two-mine portfolio with no single clean BHM-era date. Left null with both the pre-BHM (2012, different owner) and post-BHM (Oct 2024 acquisition, ramping through record quarters in 2025) context noted. This row was missing entirely prior to 2026-08-21 -- a genuine data gap, not a stage error; Miner.stage was already correctly PRODUCTION. [Task #533 re-verification, 2026-08-22] CONFIRMED CORRECT -- stronger citation added. Fresh primary-source research (WebSearch, not headline/summary) confirms real, current, substantial sales: Q2 2026 (June quarter) results report record quarterly throughput of 119,320 tonnes processed (highest since mid-2020), with A$40.2 million in sales and A$9.1 million in operational cash flow for the quarter -- real payable metal sold (Rasp Mine's zinc concentrate and silver-lead concentrate), not merely produced. Q1 2026 (March quarter) separately confirmed payable metal sold including 2,700t zinc, 2,000t lead and ~63koz silver. The existing note's own dating ambiguity (pre-BHM-ownership 2012 declaration under a different entity, vs. BHM's own Oct 2024 acquisition and subsequent restart-and-ramp) remains genuinely unresolved and is not touched here -- this upgrade only adds the real $ sales figures that were missing, resolving the "no $ figure cited" gap Task #521's own bucket-2 criterion flagged as a citation-completeness issue, not a stage or milestone question. Pinnacles (the second mine referenced in the existing note) began first ore delivery to the Rasp plant only at the end of June 2026 and remains in early ramp-up -- not the basis for this write, Rasp's own established, already-selling operation is. No stage or milestone change; sourceUrl and achievedDate left as-is (still null, still genuinely ambiguous on dating). · Source

Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.

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.