Future Metals NL (renamed from Red Emperor Resources NL, recommenced trading as FME 22 Jun 2021) 100%-owns the Panton PGM Project, roughly 60km north of Halls Creek in Western Australia's East Kimberley. The project's former AIM listing was cancelled effective 5 Nov 2025; the company now trades ASX-only. An updated JORC (2012) Mineral Resource (9 July 2026) reported on a platinum-equivalent basis stands at 82.3 million tonnes at 1.6g/t PtEq for 4.24 million ounces of contained PtEq, split 40.0Mt Indicated (2.06Moz) and 42.3Mt Inferred (2.18Moz), with no Measured category. Platinum makes up approximately 45-50% of the PGM basket on this re-presented basis, with palladium, gold, nickel and chromite as further genuine co-products; copper and cobalt are exploration-only and explicitly excluded from the current resource calculation. A Scoping Study (7 December 2023) delivered a pre-tax NPV8 of A$250 million (A$153 million post-tax), an IRR of 26% pre-tax (21% post-tax), pre-production capital of A$267 million, an approximately 9-year initial mine life and an AISC of US$789/oz -- still the only completed economic study; an updated Scoping Study commenced 4 August 2026, targeted for completion October-November 2026, is not yet finished. The company held approximately A$1.5 million in cash at 30 June 2026, with a placement of approximately 254.6 million new shares at A$0.014 (Tranche 1 settling 26 August 2026) set to increase the share count materially once both tranches complete.
Notable vs. Peers
- Jurisdiction risk score of 9/10 is meaningfully safer than the peer average of 7.3/10.
- Trading within 7% of its 52-week low — weak 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
Executive Chairman of Broken Hill Mines Limited -- the company has no separate CEO role as of this research pass.
Resources executive with 30+ years in project development and operations across Africa, South America and Australia; 20 years with Anglo American and BHP before moving to junior mining in 2013. Currently a Non-Executive Director at Peninsula Energy Ltd. Appointed MD/CEO September 2025.
Over 30 years in mineral exploration and mining. Currently Managing Director of Rimfire Pacific Mining; previously held senior roles at MIM Group, Forrestania Gold and other operators. BSc (Hons) Geology, Monash University; Fellow of AusIMM.
Previously Managing Director of ASX-listed PGM developer Podium Minerals Limited. Held senior operational roles at MMG Limited, AngloGold Australia, WMC and BHP Billiton.
10 years of experience providing secretarial and governance services. Bachelor of Commerce and Master of Professional Accounting. Appointed following Thomas O'Rourke's resignation.
Geologist with 14+ years across exploration, resource development and mining operations; previously held technical roles at IGO Limited, Northern Star Resources and First Quantum Minerals.
20+ years leading development and operations of complex resource assets. Bachelor of Engineering (Mining), University of Exeter.
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 smart-money tracking (institutional/large-investor activity) for this miner yet — this is a planned feature, not live data.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
commodity=OTHER: the Commodity enum has no PLATINUM value (confirmed: GOLD/SILVER/COPPER/NICKEL/URANIUM/OIL_GAS/OTHER only) -- same settled precedent already applied to SLP (Sylvania Platinum). ouncesFound (2,060,000) is the INDICATED-ONLY portion of the 9 Jul 2026 updated JORC MRE, per this repo's Measured+Indicated convention -- the 2.18Moz Inferred remainder is real but deliberately not folded into this cited field. Two older, superseded resource figures exist (a 2022 MRE of 5.0Moz PGM3E and an Oct 2023 upgrade of 4.5Moz) and were NOT used -- the 9 Jul 2026 figure supersedes both. dcfNpvUsd/irrPct/initialCapexUsd are the company's own AUD figures, converted at this script's 0.7151 rate; aiscValue (US$789/oz) is already USD-denominated in the source and is NOT converted. stage=PEA: the 7 Dec 2023 Scoping Study is the only completed economic study -- a PFS was targeted for Q4 2024 and never delivered, and the 'updated Scoping Study' commenced 4 Aug 2026 is in progress, not complete. Secondary MinerCommodity GOLD + NICKEL are real co-products within the SAME PtEq-basis resource; palladium and chromite are also real but have no Commodity enum value and are recorded in this description only. cashPositionUsd (A$1.5M) is LOW CONFIDENCE, aggregator-relayed only -- the Appendix 5B PDF itself returned 403 from every host tried this pass -- written but NOT markVerified. Data-quality flag for future passes: FME issued an amended investor presentation in 2026 correcting a Feb 2026 Panton release for JORC/ASX non-compliance; any pre-correction Feb 2026 figures are disavowed by the company and must not be used.