Each one in plain English, with the numbers worked through for a shareholder.
31 Dec 2025remuneration report● Neutral
Buru Energy's FY2025 remuneration report covered Chair David Maxwell, non-executive directors Malcolm King and Joanne Williams, Robert Willes (retired 30 September 2025), and Chief Executive Officer Thomas Nador, who again led all pay at $642,758.
Buru Energy reported $4.1M cash on hand at the end of the quarter ended 2025-12-31, having used $638K in operating cash flow that quarter. Against $1.3M in quarterly cash outgoings (operating costs plus exploration spend), that implied roughly 3.2 quarters of funding on hand.
Buru said it was running a global process to secure a funding partner for the roughly A$40 million 2026 Rafael resource/flow-rate validation program (drilling the new Rafael 2H well and recompleting Rafael 1), targeting partner selection in Q1 2026 and a Final Investment Decision in the second half of 2026, with first cashflow still guided for 2028.
Buru extended the closing date of the options offer tied to its September 2025 capital raise (letting SPP participants apply for the free bonus options approved at the November shareholder meeting) by about three weeks, giving shareholders more time to complete the paperwork.
Buru called a shareholder meeting to approve issuing the free bonus options attached to its September 2025 placement and Share Purchase Plan shares - a routine governance step needed before those options can be issued.
Buru's Share Purchase Plan raised only $1.4 million of its $3 million target from existing shareholders, and the company had to place the shortfall privately with a single sophisticated investor to bring the total to $2.35 million - a sign that even after extending the closing date, shareholder demand fell short of what Buru was seeking.
Robert Willes's retirement took effect, with Buru explicitly tying the board's reduction to three non-executive directors to its broader push to cut costs - another sign of the financial pressure Buru was managing heading into the next stage of its Rafael gas project.
Buru Energy reported $3.2M cash on hand at the end of the quarter ended 2025-09-30, having used $975K in operating cash flow that quarter. Against $1.8M in quarterly cash outgoings (operating costs plus exploration spend), that implied roughly 1.8 quarters of funding on hand.
18 Sept 2025regulatory community update▲ GoodMajor
Buru received Western Australian government approval of its Well Drilling Environment Plan for the 2026 Rafael appraisal campaign - covering a new high-impact Rafael 2H well (from the existing Rafael 1 pad, potentially deepened to test a separate Flying Fox prospect) and a sidetrack recompletion of Rafael 1 itself, both to be flow tested - a required de-risking step still subject to securing a funding partner.
Buru opened its Share Purchase Plan at 2.0 cents a share (matching the just-completed placement price), targeting a further $3 million from existing shareholders, with free attaching options offered as a sweetener.
Buru raised $2.1 million through a share placement at just 2.0 cents a share - down from 6.2 cents in 2024, 11.5 cents in 2023, and 16 cents in 2021-22 - and launched a follow-on Share Purchase Plan targeting a further $3 million, with free bonus options attached to each new share for the first time. The steadily falling raise price and the added options sweetener both point to a company under real, growing financial strain funding its Rafael gas project through to a planned 2026 investment decision, even though the placement itself was completed.
Buru lodged the issue notice for the free attaching options from its September 2025 raise: up to 75,000,000 options to Share Purchase Plan participants and 52,500,000 to placement participants, all struck at $0.03.
A 'Fuelling the Future' investor deck pitched Rafael's material value and energy-security case for northwest WA, illustrated with a small-scale LNG facility example from development partner Clean Energy Fuels Australia.
7 July 2025asset acquisition disposition▲ GoodMajor
Buru completed the sale of its wholly-owned natural-hydrogen/helium subsidiary 2H Resources to Koloma Australia, transferring all its South Australian/Tasmanian/WA exploration licence interests - closing out the hydrogen business Buru had built since 2023.