Lifezone Metals Limited (LZM) announced an automatic US$8 million reduction in the cap on consideration payable to BHP Billiton (UK) DDS Limited after independent RAP expert Ed O’Keefe confirmed the Kabanga Nickel Project’s Resettlement Action Plan remained in material alignment with IFC Performance Standard 5. The review included a desktop review and site visit in August and September 2026.
The July 2025 agreement concerns Lifezone’s acquisition of BHP’s 17% equity interest in Kabanga Nickel Limited. Consideration comprises a fixed US$10 million payment, payable on the earlier of 12 months after the project’s Final Investment Decision or Lifezone raising US$250 million in aggregate funding, and a contingent payment due 12 months after first commercial production, based on a US$28 million reference amount indexed to Lifezone’s share price.
Lifezone Metals Ltd (LZM) reported that Chief Executive Officer Christopher Michael Showalter converted 110,000 Restricted Stock Units into the same number of ordinary shares on September 7, 2026, with these RSUs vesting in three equal installments on April 7, 2026, September 7, 2026 and April 7, 2027. In connection with this equity event, 48,949 ordinary shares were delivered or withheld to satisfy the exercise price or tax liability at a weighted average price of $4.04 per share, based on multiple trades between $3.81 and $4.35 from September 7 through September 10, 2026. No Rule 10b5-1 trading plan is reported for these transactions.
Lifezone Metals Ltd (LZM) reported that Chief Financial Officer Ingo Hofmaier converted 33,000 Restricted Stock Units (RSUs) into 33,000 ordinary shares on September 7, 2026, as part of an RSU vesting schedule. Of the shares received, 16,435 ordinary shares were delivered or withheld to cover the exercise price or tax liability at a weighted average price of $4.04 per share in multiple trades between $3.81 and $4.35 from September 7 to September 10, 2026. Each RSU represents a right to receive one ordinary share, and the RSU grant vests in three equal installments on April 7, 2026, September 7, 2026 and April 7, 2027. No Rule 10b5-1 trading plan is reported for these transactions.
Lifezone Metals Ltd (LZM) reported that Chief Legal Officer Davis Spencer converted 33,000 Lifezone Metals Restricted Stock Units into an equal number of ordinary shares on September 7, 2026. In related transactions from September 7–10, 2026, 16,435 ordinary shares were delivered or withheld to pay the exercise price or tax liability at a weighted average price of $4.04 per share, from trades between $3.81 and $4.35. Each RSU represents a right to receive one ordinary share, and the RSUs vest in three equal installments on April 7, 2026, September 7, 2026, and April 7, 2027. No Rule 10b5-1 trading plan is reported.
Lifezone Metals Ltd (LZM) reported that Chief Technology Officer Michael David Adams converted 66,000 Restricted Stock Units into 66,000 ordinary shares on September 7, 2026. Each RSU represents a contingent right to receive one ordinary share. Following this conversion, Adams directly holds 476,960 ordinary shares of Lifezone Metals.
The RSUs vest equally in three installments on April 7, 2026, September 7, 2026 and April 7, 2027. No Rule 10b5-1 trading plan is indicated for these transactions.
Lifezone Metals Limited is registering up to 500,000 Ordinary Shares for resale by Taurus Mining Finance Fund No. 2, L.P., which may be issued upon exercise of warrants linked to a $60 million secured bridge loan facility supporting the Kabanga Nickel Project in Tanzania. The company will not receive proceeds from any resale of these shares, but would receive cash only if the warrants are exercised for cash at an exercise price of $6.25 per share, before their five-year expiry.
Ordinary Shares trade on the NYSE under symbol LZM; as of June 30, 2026, 89,914,557 shares were outstanding. As of the same date, Lifezone Metals reported consolidated cash of $37.3 million, total debt of $105.2 million and total equity of $93.4 million. Additional outstanding instruments include public and private warrants and $50 million of convertible debentures. The company focuses on cleaner metals production using its Hydromet Technology, anchored by the Kabanga Nickel Project and a U.S.-based PGM recycling partnership, and remains both an emerging growth company and a foreign private issuer with reduced U.S. reporting and governance requirements.
Lifezone Metals Limited is registering, on a resale basis, up to 500,000 Ordinary Shares for Taurus Mining Finance Fund No. 2, L.P., issuable upon exercise of warrants granted under a waiver to a $60 million secured bridge loan facility supporting the Kabanga Nickel Project.
The warrants are exercisable at $6.25 per share for five years from June 29, 2026. Lifezone will not receive proceeds from Taurus’s share sales, but would receive cash if the warrants are exercised for cash. Ordinary Shares trade on the NYSE under symbol LZM.
As of June 30, 2026, Lifezone had 89,914,557 Ordinary Shares outstanding, cash of $37.3 million, total debt of $105.2 million and equity of $93.4 millionemerging growth company and a foreign private issuer, benefiting from reduced U.S. reporting and governance requirements.
Lifezone Metals Limited reported H1 2026 revenue of $1,667,741, up from $325,451 in H1 2025, and a net loss of $6,925,938, equivalent to a basic and diluted loss per share of $0.08. Results include $7.9 million of non‑cash fair value gains on embedded derivatives, warrants and deferred consideration.
Cash and cash equivalents increased to $37,294,296 as of June 30, 2026, supported by a $25 million registered direct offering and $21.7 million drawn under a senior secured bridge loan, leaving $18.3 million undrawn. Exploration and evaluation assets and mining data for the Kabanga Nickel Project rose to $161,082,638 as pre‑FID work accelerated, including roughly $854 million of contracts released to market.
Management discloses substantial doubt about the ability to continue as a going concern without additional funding, citing net current liabilities of $17.13 million and future financing needs. Kabanga’s Final Investment Decision is now expected around Q1 2027, while a U.S. PGM Recycling Project has achieved pilot‑scale recoveries of over 99% platinum and palladium and is targeting over 95% rhodium.
Lifezone Metals Limited and its wholly owned subsidiary Kabanga Nickel Limited agreed with Taurus Mining Finance Fund No. 2, L.P. to amend their existing $60 million senior secured bridge loan facility.
The amendment extends the facility’s “Availability Period” for drawing unutilised commitments from an end date tied to 29 August 2026 to 23.59 GMT on 29 November 2026. The borrower confirms that its repeating representations are true in all material respects and that no Default or Review Event is continuing or would result from this amendment. The letter is designated a Finance Document under the existing facility, is governed by English law, and requires the borrower to reimburse the agent’s amendment-related costs within ten Business Days of demand.