Broken Hill Mines Limited (ASX: BHM; formerly Coolabah Metals Limited, renamed Jul 2025) owns, through its wholly owned subsidiary Broken Hill Operations Pty Ltd, the producing Rasp zinc-lead-silver mine and its 750,000 tpa processing plant at Broken Hill, New South Wales; the Rasp mining lease (CML7) was renewed to 2047 in April 2026. In the year to 30 June 2026 Rasp produced 25,000 t of zinc concentrate and 12,700 t of lead concentrate from 464,000 t of ore, and metal revenue was A$42.5M from zinc, A$24.8M from silver and A$18.4M from lead, so zinc is the leading metal by value. BHM is also the exclusive operator of the nearby Pinnacles Mine under a binding Heads of Agreement, sharing profit about 70% BHM / 30% Pinnacles through a net smelter return calculation, but it holds no ownership interest in the Pinnacles tenements; Pinnacles' open pit restarted in May 2026 and first ore reached the Rasp ROM pad at the end of June 2026. Revised Rasp and Pinnacles Mineral Resource Estimates are targeted for October-December 2026. Led by Executive Chairman Patrick Walta (no separate CEO).
Notable vs. Peers
- Financials score of 9.3/10 is stronger than the peer average of 3.4/10.
- Trading within 4% of its 52-week low — weak recent price momentum.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
- May 2012 · Source
- Reached — date not disclosed · 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.
Not yet determined: grid power.
Combined view across 2 projects. Figures below are only combined where the underlying basis genuinely matches -- see the notes under each.
Jurisdiction (40%)9/10
New South Wales: Fraser PPI 2025 is 73.26 of 100 (rank 37 of 68), which maps to 9 on this site's scale. Its Rasp and Pinnacles mines are at Broken Hill, New South Wales, a Tier-1 mining jurisdiction.
Infrastructure (40%)10/10
A confirmed mill, confirmed road access, confirmed grid power, and a confirmed tailings facility at Rasp Mine.
Nearby producing mine (20%)10/10
Broken Hill (Perilya) (Perilya Limited) is 1 km away -- within shared-mill trucking range.
Acquisition Susceptibility
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 in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:9.9/10
Nearest producing mine: Broken Hill (Perilya) (Perilya Limited), 1 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:5.5/10
Stage: Production
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:9/10
Australia: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:2/10
Primary commodity: Zinc
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Executive Chairman of Broken Hill Mines Limited and of Future Metals NL.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
No producer, specialist resource fund, or on-market insider buying beyond company insiders' own holdings was found for Broken Hill Mines. The company's largest shareholders are its own co-founders and an unidentified private holding company.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Broken Hill Mines, renamed from Coolabah Metals in July 2025, owns the producing Rasp zinc-lead-silver mine and its 750,000 tpa processing plant at Broken Hill, New South Wales, through its subsidiary Broken Hill Operations, which it acquired on 31 October 2024; the Rasp mining lease was renewed to 2047 in April 2026. In the year to 30 June 2026 Rasp produced 25,000 t of zinc concentrate and 12,700 t of lead concentrate from 464,000 t of ore, with zinc the largest source of metal revenue ahead of silver and lead. Rasp's measured and indicated resources contain 452,289,354 lb of zinc (164,586,102 lb measured and 287,703,252 lb indicated), plus 800,454,381 lb inferred, in an estimate dated January 2024, along with lead and silver. BHM also operates the nearby Pinnacles mine, which restarted in May 2026 and sent its first ore to the Rasp plant at the end of June, under an agreement that shares profit about 70% to BHM and 30% to Pinnacles' owner, but it holds no ownership interest in Pinnacles.