Tribune Resources Limited

Lifecycle Milestones

1. Permit granted

   Reached — date not disclosed · Per Tribune's own East Kundana Joint Venture project page -- the same source already cited for this miner's existing CONSTRUCTION_DECISION/CONSTRUCTION_START/FIRST_PRODUCTION/COMMERCIAL_PRODUCTION rows -- 'Tribune Resources and its sister company Rand Mining held leases in the [Kundana] district from the early 1980s,' roughly two decades before the 2002 EKJV Production Joint Venture Agreement (already on file under CONSTRUCTION_DECISION) that formalised development of those same leases into the current Raleigh/Rubicon-Hornet-Pegasus underground mines. Corroborated by Rand Mining's own parallel project page (randmining.com.au/projects/east-kundana-joint-venture/), which gives an identical account. No dated 'lease/permit granted' event specific to the 1997 exploration JV or 2002 production JV was found -- the underlying mining tenure was already held privately by Tribune/Rand for roughly 20 years before being rolled into the JV structure, rather than newly granted to the JV itself. Same reused-pre-existing-tenure shape as HL/San Sebastian and DRD/FWGR (Task #646 batch 1) and USA/EC120 and ZIM/Ngezi (this same batch, below). · Source
2. Construction decision (FID)

   Reached — date not disclosed · Tribune Resources and sister company Rand Mining (their EKJV exploration JV with GEM dating to 1997) created the EKJV Production Joint Venture Agreement in 2002 'to conduct development and mining of the resources within the EKJV lease area' -- the JV's own real decision-equivalent event enabling development, ahead of open-pit mining (2002-2004) and the later Raleigh underground mine. Exact day within 2002 not confirmed from available sourcing -- recorded reached-but-undated. · Source
3. Construction start

   Reached — date not disclosed · Raleigh underground mining commenced in 2006 (following the 2002-2004 open-pit phase at Rubicon and Raleigh). No single dated 'construction/development start' release found for the underground transition; recorded reached-but-undated. · Source
4. First pour / production

   Reached — date not disclosed · Reached, undated at year precision (2002). Tribune's own East Kundana Joint Venture project page (tribune.com.au) -- the same source already cited for this miner's on-file CONSTRUCTION_DECISION (undated, 2002, EKJV Production JV Agreement) and CONSTRUCTION_START (undated, 2006, Raleigh underground transition) rows: 'Open pit mining of Rubicon and Raleigh commenced in 2002 and was completed in 2004.' This predates the miner's own on-file CONSTRUCTION_START (2006) because EKJV is a two-phase asset -- open-pit mining 2002-2004, followed by a later underground-mining transition from 2006 that this campaign's prior pass already anchored CONSTRUCTION_START to -- not a data inconsistency: FIRST_PRODUCTION correctly anchors to the earlier, actual first-production phase. · Source
5. Commercial production

   Reached — date not disclosed · Genuinely reached, but no single unambiguous company-era date exists: Tribune holds a confirmed 36.75% NON-OPERATING interest in the East Kundana Joint Venture (EKJV, Kalgoorlie, WA) -- Gilt-Edged Mining Pty Ltd holds 51% and operates the mine, a wholly owned subsidiary of EVOLUTION MINING LIMITED since Evolution completed its ~A$400M acquisition of Northern Star Resources' Kundana assets on 18 August 2021 (Northern Star operated the EKJV through the same Gilt Edge Mining subsidiary from March 2014 until that sale); Rand Mining holds the remaining 12.25% -- in a mining area worked since circa 1895, passing through Goldfields Ltd, Aurion Gold, Placer Dome and Barrick Gold before Northern Star assumed operatorship in 2014. A long multi-owner history with no single unambiguous company-era date, matching the Hemlo Mining Corp precedent, and Tribune itself has never operated the mine. EKJV is Tribune's sole current asset. 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 #567 (2026-08-24): corrected this note's stale present-tense "Northern Star ... operates the mine" claim to the current operator, Evolution Mining -- both Tribune's and Rand's own project pages remain stale on this exact point as of this pass (both still credit Northern Star), so this was independently verified via a third-party mining database (https://miningdataonline.com/property/1336/East-Kundana-EKJV-Mine.aspx, listing Evolution Mining Limited 51% as operator) and multiple 2021 secondary press reports of the completed Evolution/Northern Star Kundana transaction (marketscreener.com, stockhead.com.au, sharecafe.com.au, australianresourcesandinvestment.com.au), consistent with the Task #562 businessModel research (commit df3bbb3), which reached the same conclusion and flagged this exact note as stale but out of scope for that pass. · 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.