Saturn Metals Limited
Saturn Metals' 100%-owned Apollo Hill Gold Project in Western Australia holds a 2.83 million ounce gold Mineral Resource (174Mt @ 0.51 g/t Au) and a maiden Ore Reserve of 1.586 million ounces (104.6Mt @ 0.47 g/t Au) -- an 86% conversion rate from eligible Measured/Indicated Resource. A December 2025 Pre-Feasibility Study outlined a 14-year open-pit, heap-leach operation producing ~106,000 oz/year, with a Definitive Feasibility Study targeted for completion in the second half of 2026. The Western Australian government granted Mining Lease M31/496 (~11,700 hectares) in mid-2026 following execution of the Apollo Hill Native Title Mining and Project Agreement.
Notable vs. Peers
- Financials score of 9.1/10 is stronger than the peer average of 6.6/10.
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 and CEO of Saturn Metals Limited since Aug 2017. Geologist with 25+ years leading exploration, development, and operations; formerly with Newmont Mining and was Managing Director of ASX-listed Spectrum Rare Earths; served on the Northern Territory Mining Board.
Chief Financial Officer of Saturn Metals Limited. Two decades of senior executive experience in Australian resources; strong track record in project and corporate financing totaling A$1.2 billion across six construction projects.
Chief Operating Officer of Saturn Metals Limited. 20+ years mining experience across underground and surface operations in Australia and Southeast Asia; most recently General Manager - Operations for Westgold Resources.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Golden Crane Holdings Limited, a subsidiary of genuine Chinese gold producer Wanguo Gold Group Limited, committed A$48.6 million in cash to become a cornerstone shareholder holding approximately 15% of Saturn. Lion Selection Group, a well-known specialist mining investment company, independently holds around 10.5%. Franklin Resources separately discloses a real 6.87% stake -- a sizeable but generalist position, below the level needed to add further credit here. Four directors bought stock on the open market within the last year, with no selling on record.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
December 2025 Pre-Feasibility Study: post-tax NPV8 of A$973M and 51% IRR at a A$4,300/oz base-case gold price (2.3-year payback); AISC of A$2,464/oz. Column leach testwork returned ~88% average gold recovery, supporting the heap-leach process route over a higher-unit-cost mill/CIL alternative. A Definitive Feasibility Study is due in H2 2026.
Saturn Metals' Pre-Feasibility Study for the 100%-owned Apollo Hill Gold Project (delivered 17 Dec 2025) outlines a standalone 10Mtpa bulk open-pit heap-leach operation over an initial 14-year mine life, producing ~106koz/yr at steady state. Base case at A$4,300/oz (US$2,795/oz) gold: NPV8 of A$973M, IRR of 51%, 2.3-year payback and over A$2.5B of EBITDA, at an AISC of A$2,464/oz (A$27.46/tonne). Maiden Ore Reserve of 104.6Mt @ 0.47g/t Au for 1,586,000oz -- an 86% conversion of eligible Measured/Indicated ounces -- inside a Mineral Resource of 174Mt @ 0.51g/t Au for 2,830,000oz. Production target 117.4Mt @ 0.47g/t for 1.77Moz (89% Reserves, 11% Inferred). A Definitive Feasibility Study is targeted for Q4 2026.