Jason Peterson's Stake in Blaze Minerals Falls to 8.58% After Portfolio Adjustments

Jason Peterson’s Role and Shareholding Structure at Blaze Minerals

Jason Peterson is identified as a Director and Trustee across multiple associated entities that collectively hold a substantial interest in Blaze Minerals Limited. The notice outlines his voting power through various registered structures, each serving as vehicles for his investments. All entities are registered in Western Australia, sharing a common Perth address at PO Box Z5467, St Georges Terrace, WA 6831.

Peterson’s shareholding is diversified across entities such as Celtic Capital Pty Ltd (operating multiple accounts), Sunset Capital Management Pty Ltd, Cityscape Asset Pty Ltd, and CPS Capital No 5 Pty Ltd. This multi-entity arrangement is typical for substantial investors aiming to separate investment objectives and trustee responsibilities. Peterson acts as Director or Trustee for all these entities, indicating active portfolio management.

Details of Voting Power Reduction and June 2026 Share Transactions

The triggering transaction occurred on 18 June 2026, involving an off-market transfer of 400,000 ordinary fully paid shares at $400. The shares moved from Celtic Capital Pty Ltd <Hannah E Peterson A/C> to Sunset Capital Management Pty Ltd <Sunset Superfund A/C>. Although this transfer reduced Peterson’s aggregate voting power by 400,000 shares, it remained within his controlled entities, effectively reallocating shares internally.

Despite this intra-group transfer, the overall decline in voting power from 10.352% to 8.5842% reflects the cumulative effect of earlier placement activities. A prior notice dated 24 July 2025 established Peterson’s then-current holdings. Subsequent placements in August 2025 increased his share count significantly through Sunset Capital Management (56,604,555 shares at $113,209.11) and Celtic Capital No 2 Account (10,370,300 shares at $20,740.60). However, these additions coincided with Blaze Minerals issuing shares to other investors, diluting Peterson’s percentage voting power.

Breakdown of Peterson’s Holdings Across Six Registered Entities

As of 18 June 2026, Peterson’s voting interests in Blaze Minerals are distributed among six registered entities. The largest holding is via Sunset Capital Management Pty Ltd <Sunset Superfund A/C>, with 159,755,630 shares, representing a significant portion of his total voting interest. Cityscape Asset Pty Ltd <Cityscape Family A/C> holds 60,000,000 shares, while Celtic Capital Pty Ltd controls three accounts with 27,000,000 shares (No 2), 2,117,500 shares (Income Account), and 400,000 shares (No 4).

CPS Capital No 5 Pty Ltd holds 1,815,000 shares. Collectively, these 251,088,130 shares amount to 8.5842% of Blaze Minerals' voting power. The structure indicates a sophisticated wealth management strategy, separating holdings by purpose, beneficiary, or regulatory status. Notably, approximately 64% of Peterson’s holdings are concentrated in the Sunset Capital superfund account, highlighting a substantial retirement savings component.

Context of August 2025 Placement Activity

Placement activity on 25 August 2025 offers insight into Peterson’s shareholding evolution. On that date, Sunset Capital Management Pty Ltd <Sunset Superfund A/C> acquired 56,604,555 shares for $113,209.11 under Placement—Tranche 2. Concurrently, Celtic Capital Pty Ltd <Celtic Capital No 2 A/C> purchased 10,370,300 shares for $20,740.60. These transactions reflect Peterson’s capital deployment into Blaze Minerals during this period.

The staged capital raise implied by the Tranche 2 designation suggests Blaze Minerals was actively funding operations or development, with Peterson participating in subsequent rounds. The low per-share cost (~$0.002) relative to market prices is not detailed in the notice; investors should consult Blaze Minerals’ August 2025 announcements for full context.

Importance of Substantial Holding Notices to Blaze Minerals Investors

Substantial holding notices under section 671B of the Corporations Act ensure transparency regarding major ownership changes. Peterson’s voting power decrease from 10.352% to 8.5842%, while still above the 5% disclosure threshold, signals a slight dilution of his influence over Blaze Minerals’ governance and strategy.

Tracking such changes helps investors gauge institutional confidence, capital allocation trends, and potential shifts in board dynamics. The reduction may reflect strategic portfolio rebalancing or dilution from company capital raises. Peterson’s ongoing substantial holding underscores his continued material interest in Blaze Minerals’ performance and direction. This formal notice provides shareholders with reliable data for investment and governance assessments.

Off-Market Transfer Details of the June 2026 Transaction

The 18 June 2026 transaction was an off-market transfer, meaning it was privately negotiated outside the ASX order book. The transfer of 400,000 shares from Celtic Capital Pty Ltd <Hannah E Peterson A/C> to Sunset Capital Management Pty Ltd <Sunset Superfund A/C> at $400 (approximately $0.001 per share) indicates an internal portfolio reorganization rather than a market sale.

This internal reallocation required formal notification under the Corporations Act due to changes in registered holders and relevant interests, despite the economic benefit remaining within Peterson’s consolidated holdings. Such transfers are common for tax planning, trustee compliance, or administrative purposes. The reduction in aggregate voting power by 400,000 shares within Peterson’s entities suggests a deliberate internal restructuring without altering overall investment strategy.

Overview of Blaze Minerals and Its Operations

The notice does not provide details on Blaze Minerals’ business activities, assets, or projects. The company is registered in Australia (ACN 074 728 019), with Peterson’s associated entities based in Western Australia, indicating a domestic investor profile. For operational insights, investors should consult Blaze Minerals’ corporate materials, annual reports, and announcements.

Peterson’s substantial 8.5842% voting stake indicates Blaze Minerals is sizable enough to attract major investors. The distribution of holdings across multiple entities reflects sophisticated investor participation. The August 2025 placement suggests active capital raising, likely to support exploration or development. Without additional information, the strategic role of Peterson’s investment within Blaze Minerals’ capital structure remains unclear.

Governance Implications and Concentration Risk

While Peterson’s voting power has decreased from 10.352% to 8.5842%, he remains a substantial shareholder with significant influence. Shareholders exceeding 5% must continue lodging notices for changes, and those above 10% are often viewed as having greater board influence. Peterson’s fall below 10% may affect governance depending on Blaze Minerals’ constitution and other major shareholders’ positions.

The spread of Peterson’s holdings across multiple entities requires Blaze Minerals to monitor share ownership and voting rights carefully. Different entities holding shares in trustee versus director-controlled capacities may influence voting outcomes on various resolutions. For other shareholders, Peterson’s maintained substantial interest suggests ongoing economic and voting power, while his reduced concentration could open opportunities for others to increase influence or for new substantial holders to emerge.

Compliance and Notice Lodgement Timeline

The change notice was signed by Jason Peterson on 20 July 2026, about one month after the 18 June 2026 change date. The Corporations Act mandates substantial holders to notify changes within two business days. The notice references a prior substantial holding notice dated 24 July 2025, indicating Peterson’s compliance with quarterly or event-driven reporting obligations during the intervening period.

This timeline and documentation reflect effective record-keeping by Peterson’s entities and Blaze Minerals’ share registry. Peterson’s signing capacity as "Director & Trustee" confirms his authority to represent associated entities and verify shareholding accuracy. The 20 July 2026 lodgement date marks the start of public disclosure for investors and shareholders.