Lowell Resources Fund Announces Estimated NAV of $2.5375 Pre-Distribution and $2.3943 Post-Distribution as of 30 June 2026

Details of Lowell Resources Fund’s NAV as of 30 June 2026

In a market update dated 2 July 2026, Lowell Resources Fund revealed two estimated NAV figures for the period ending 30 June 2026. The pre-distribution NAV per unit was reported at $2.5375, while the post-distribution NAV per unit stood at $2.3943. These figures are estimates, reflecting standard practice for listed investment trusts reporting valuations near a reporting date, as final portfolio valuations and fund accounting may still be subject to reconciliation.

The update was formally lodged by Julie Edwards, Company Secretary of Cremorne Capital Limited, the responsible entity for Lowell Resources Fund. Cremorne Capital Limited operates from 8 Chapel Street, Cremorne, Victoria. This NAV disclosure provides unitholders and potential investors with the latest publicly available estimate of the intrinsic per-unit value of the trust’s investment portfolio.

Estimated Distribution of Around $0.1432 Per Unit Derived from NAV Figures

The difference between the pre-distribution NAV of $2.5375 and the post-distribution NAV of $2.3943 indicates a distribution amount of approximately $0.1432 per unit for the period ending 30 June 2026. This figure is inferred from the two NAV values and has not been formally confirmed as a distribution in this announcement. Investors seeking precise details regarding distribution amounts, payment dates, and eligibility should await any formal distribution notices issued by the fund.

For income-focused investors or those holding LRT units within self-managed superannuation or other tax-sensitive structures, understanding the distribution’s tax treatment is important. This update did not disclose whether the distribution includes franking credits or is classified as a return of capital.

Comparing LRT’s NAV Per Unit to Market Price and Implications for Unitholders

For holders of any listed investment trust or company, the relationship between the ASX trading price and the reported NAV is a vital valuation indicator. Units trading below NAV represent an opportunity to acquire the portfolio at a discount, while trading above NAV indicates a premium. The post-distribution NAV of $2.3943 per unit serves as a benchmark against which current LRT market prices can be evaluated.

The immediate impact on LRT’s share price was not evident from public information. Investors and analysts will likely compare these NAV estimates with recent trading prices to assess whether the fund is trading at a discount or premium. Given these figures are estimates, minor adjustments may occur following final accounting, though such changes are generally minimal.

Cremorne Capital’s Role as Responsible Entity in Managing LRT

Lowell Resources Fund operates as a registered managed investment scheme, with Cremorne Capital Limited acting as the responsible entity. Cremorne Capital holds Australian Financial Services Licence number 241175 and ABN 60 006 844 588. As responsible entity, Cremorne Capital assumes legal and regulatory responsibilities for operating the trust, including lodging ASX disclosures, ensuring compliance with the fund’s constitution, and acting in unitholders’ best interests.

Investment management of the fund’s portfolio is conducted by Lowell Resources Fund Management (LRFM), a separate entity from the responsible entity. This dual structure, common in Australian funds management, separates compliance and administration from investment decisions, providing an additional governance layer for unitholders.

LRFM’s Extensive 20-Year Experience Managing the Junior Resources Portfolio

Lowell Resources Fund Management has managed LRT for more than 20 years, a significant differentiator in the volatile junior resources sector. The experienced team targets strong absolute returns from exploration and development companies across precious metals, base metals, specialty metals, and oil and gas.

Maintaining a specialist resources fund over two decades is notable given the volatility and boom-bust cycles that characterise junior mining and exploration markets. The fund has navigated multiple commodity cycles and market stresses. However, past performance does not guarantee future results, and the junior resources sector remains high risk.

LRT’s Investment Scope Across Multiple Commodity Sectors

LRT’s investment mandate covers a diverse range of commodity subsectors, including precious metals such as gold and silver; base metals like copper and nickel; specialty or critical metals; and oil and gas. This diversification means the fund’s NAV reflects simultaneous movements across multiple resource markets.

The mandate allows LRFM to adjust exposure toward the most attractive commodity subsectors over time. Consequently, the portfolio composition—and the factors influencing the 30 June 2026 NAV—may reflect a variety of stock-level and commodity-level dynamics. The fund did not disclose specific portfolio holdings or valuations in this update.

Significance of the 30 June 2026 Valuation Date at Financial Year-End

The 30 June 2026 valuation date aligns with the end of the Australian financial year, making this NAV update particularly relevant for financial reporting and tax planning. For unitholders, this date often serves as the reference point for annual tax statements, distribution calculations, and performance assessments. It also represents the benchmark for the fund’s 2025–2026 financial year results.

The update was issued on 2 July 2026, just two days after the valuation date, demonstrating a prompt disclosure consistent with ASX continuous disclosure requirements. The use of "estimated" indicates these figures are preliminary, with a final audited valuation expected as part of the annual financial reporting process.

Key Considerations for Investors Following This NAV Disclosure

After this NAV update, investors should watch for several developments. First, any formal distribution announcement from Lowell Resources Fund detailing the exact payment amount, record date, and payment date will clarify the income implied by the NAV difference. Second, the fund’s annual report and audited financial statements for the year ending 30 June 2026 will provide a fuller view of portfolio performance, fees, and other financial details.

Investors may also monitor portfolio updates or quarterly activity reports from LRFM outlining holdings and any significant exposure changes. Given the fund’s focus on small and junior resources companies, fluctuations in gold, copper, and critical minerals prices in the near term could materially affect future NAV readings. The next formal NAV update is likely to be released at the end of the following quarter, although the fund did not specify the frequency of NAV disclosures in this announcement.

Overview of Lowell Resources Fund and Its Role in the Australian Junior Resources Market

Lowell Resources Fund is an ASX-listed managed investment trust offering retail and wholesale investors access to an actively managed portfolio of junior resources companies. The fund targets opportunities within the high-risk, high-reward segment of Australian and global markets. The junior resources sector includes early-stage explorers through to advanced development miners, characterised by significant upside potential alongside notable downside risk.

For many retail investors, investing in a diversified portfolio of junior resources stocks via a listed trust like LRT provides a practical alternative to building such a portfolio independently, given the specialist expertise, deal flow access, and risk management required. The ASX listing also offers daily liquidity, enabling investors to trade units on-market rather than being subject to fixed redemption schedules. Prospective investors are advised to review the fund’s product disclosure statement and seek independent financial advice before investing.