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Normandy Minerals Ord Shs ASX:NMD

1 opened or increased0 held0 reduced or exitedlatest position by manager, past 12 months90 days: 1 increased, 0 reduced. 1 managers in total.

Position history by manager 1 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

20 Apr 2026 to today

Commentary 1 comments

DateManagerActionSummary

1 Oct 2026Seneca Financial SolutionsInitiatedSeneca Financial Solutions initiated a position in Normandy Minerals (ASX: NMD) ahead of its ASX listing on 5 October because it applies the same mill-proximity thesis behind its Golden Horse investment to an earlier-stage opportunity. Seneca describes Normandy as a high-grade Western Australian gold exploration story located north of Edna May in the Southern Cross region, with 6–8g/t historic pits and 1,600km2 of tenure. The ground sits between around 10Mtpa of milling capacity expected online within 12–24 months, including Forrestania, Marvel Loch, OBM, RXL, Cygnet and Hanking. Seneca is backing part of the team that assembled Golden Horse; the IPO is priced at $0.20, implying a $24 million market cap and $11 million enterprise value.

Gold ExplorationArticle

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First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 1 managers first commented on NMD.

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About Normandy Minerals Ord Shs

Materials, Metals and Mining

Normandy Minerals (ASX:NMD), a newly listed Western Australian gold explorer, is backed by Seneca Financial Solutions. In October 2026, Seneca said the same thesis behind its Southern Cross gold investments led it to an earlier-stage opportunity in Normandy Minerals, which was slated to list on the ASX on 5 October under the code NMD. Seneca sees Normandy as a beneficiary of consolidation in the Southern Cross region as larger producers seek new ore sources near existing mills. Normandy Minerals operates in the Materials sector within the Metals and Mining industry, and Thesis Tracker has captured 1 comment from 1 fund manager, Seneca Financial Solutions. Normandy Minerals is a Western Australian gold explorer holding a large tenement package in the Southern Cross region, including historic high-grade open pits, located close to significant planned regional milling capacity.

Market cap: $76m
Price to earnings: Loss-making
Return on equity: 0.0%
Dividend yield: 0.0%
Price to book: 0.00x
Net margin: 0.0%
52-week range: $0.27 to $0.40

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Normandy Minerals Ord Shs (ASX:NMD)?

Fund managers including Seneca Financial Solutions have invested in Normandy Minerals Ord Shs (ASX:NMD).

What opportunities or catalysts do fund managers highlight for Normandy Minerals Ord Shs?

Seneca highlights Normandy's position in the Southern Cross gold region, where consolidation and new milling capacity could create demand for its ore.

What are the key risks to the Normandy Minerals Ord Shs investment thesis, according to fund managers?

The available commentary does not set out specific risks, though Normandy is a newly listed, early-stage explorer dependent on exploration success.

What does Normandy Minerals Ord Shs (ASX:NMD) do?

Normandy Minerals Limited is a gold mining and exploration company incorporated in 2025 and based in West Perth, Australia. Its Normandy Project, located in the Southern Cross Province of the Yilgarn Mineral Field, comprises three sub-projects. Halleys includes 31 tenements covering approximately 553 km² across the Halleys District and Halleys Regional. Mt Jackson includes 29 tenements covering approximately 801 km² across the Clampton Shear Zone and Mt Jackson Regional. Perrinvale comprises two granted exploration licences covering 267 km², located 145 km northwest of Kalgoorlie and 40 km west-northwest of the Davyhurst mining centre.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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