4 questions lodged at 2026 Highfield Resources (HFR) virtual AGM
May 28, 2026
Below is the text of the 4 written questions submitted at the Highfield Resources (HFR) 4pm virtual AGM via Automic on May 26, 2026. See notice of meeting detailing 3 resolutions including extra placement capacity request. Market cap $17.5m on AGM day. Accumulated losses of $186.8m and net assets of $91.8m as of December 31, 2025. The proxies were not disclosed early in these formal addresses. No protest votes.
Q1. Given that our current market cap is $17.5m, could external auditor Julian McCarthy from PwC please comment on how rigorous his team's impairment testing processes were given that the latest accounts claim that we had net assets of $91.8m as of December 31, 2025.
Answer: The chair... Watch video of exchange via Twitter.
Q2. The latest accounts show that we have accumulated losses of $186.8m and claim to have net assets of $91.8m. Based on the current market cap of $17.5m, shareholders appear to have collectively lost about $260m so far. As a relatively new shareholder, could the chair briefly summarise where all the money went and what past directors and executives should have done differently to deliver a better experience for long-standing shareholders? If the chair doesn't know, could the person at the meeting with the best corporate memory please respond to this question?
Answer: The chair... Watch video of exchange via Twitter.
Q3. What is our history with Owen Hegarty's EMR Capital, our largest shareholder with about 27%. Have they been a supportive shareholder and have they added any specific value beyond just providing capital?
Answer: The chair... Watch video of exchange via Twitter.
Q4. What is our history in terms of doing placements and SPPs? If we do another placement in the coming 12 months after receiving this extra 10% authority, will the board undertake to offer your 2,556 retail shareholders an opportunity to participate on the same terms through a share purchase plan?
Answer: The chair... Watch video of exchange via Twitter.
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