Highlights

• State Street Corporation has reported a 5.22% voting interest in FireFly Metals.
• Eligible shareholders can acquire up to AU$30,000 in shares through the SPP.
• Green Bay holds significant copper-equivalent resources supporting FireFly’s development strategy.

State Street Emerges as Major Shareholder

FireFly Metals Ltd (ASX: FFM) drew fresh market attention following a substantial-holder disclosure involving State Street Corporation and its subsidiaries. The copper-gold company traded at a current market price of AU$1.760, marking an increase of approximately 4.7%.

According to the filing released on 21 September 2026, State Street crossed the substantial-shareholder threshold on 17 September 2026. Its combined relevant interest covered 45,388,701 ordinary FireFly shares, providing voting power of 5.22%.

State Street Global Advisors, Australia, Limited represented the biggest component of the disclosed position, accounting for 34,915,869 shares. Other State Street subsidiaries held interests through investment-management mandates, trustee arrangements, collateral positions and securities-lending activities.

SPP Deadline Moves into Focus

Investor attention is also turning towards FireFly’s share purchase plan, which is due to close at 5:00 pm AWST on 23 September 2026.

The offer allows qualifying shareholders to subscribe for as much as AU$30,000 of new fully paid ordinary shares. Each share is priced at AU$1.78, matching the issue price used for the institutional placement announced on 25 and 26 August 2026.

Eligibility is limited to certain Australian and New Zealand shareholders registered at 5:00 pm AWST on 24 August 2026. FireFly’s current market price is slightly below the SPP issue price, making the final level of shareholder participation an important near-term indicator.

Green Bay Drives Future Growth

FireFly continues to progress its Green Bay copper-gold development in Newfoundland, Canada. A preliminary economic assessment has identified a pathway for the operation to potentially produce 100,000 tonnes of copper annually.

Green Bay contains measured and indicated resources of 60.2 million tonnes grading 2.43% copper equivalent. This category holds an estimated 1.464 million tonnes of contained copper equivalent.

Additionally, the project hosts an inferred resource of 23.5 million tonnes at 2.51% copper equivalent, containing approximately 592,000 tonnes of copper equivalent. These estimates use a 1.0% copper cut-off grade, with assumed recovery rates of 95% for copper and 85% for gold and silver.

Development Execution Remains Decisive

State Street’s disclosed position has added institutional visibility, while the approaching SPP deadline creates another immediate catalyst. However, sustained investor confidence will ultimately depend on FireFly expanding its resource base and progressing Green Bay efficiently towards development.

Note- All data presented is based on information available at the time of writing.

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