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NickelSearch Ltd.
(Sydney:AM5)
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Rating:45Neutral
Price Target:
AU$0.01
▲(0.00% Upside)
Action:Reiterated
Date:08/04/26
The score is primarily constrained by weak financial performance (pre-revenue, ongoing losses, and negative free cash flow with declining equity), partially offset by very low leverage and improved loss/cash-burn trends in 2025. Valuation is hard to assess due to a negative P/E and no dividend data, and technical signals cannot be evaluated because indicators were not provided.
Positive Factors
Very low leverage
Zero or minimal debt across 2024–2025 meaningfully reduces solvency and interest burdens for an early-stage, pre-revenue company. This durable capital-structure advantage lowers default risk and preserves strategic optionality, enabling management to prioritize project development over meeting debt covenants.
Negative Factors
Pre-revenue operations
The firm reports zero revenue across reported years and remains pre-revenue, so no operating cash inflows exist to validate the business model. Long-term viability therefore depends on successful project commercialization or asset monetization, increasing execution risk and funding dependence.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
Zero or minimal debt across 2024–2025 meaningfully reduces solvency and interest burdens for an early-stage, pre-revenue company. This durable capital-structure advantage lowers default risk and preserves strategic optionality, enabling management to prioritize project development over meeting debt covenants.
Read all positive factors
NickelSearch Ltd. (AM5) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$5.56M
Dividend YieldN/A
Average Volume (3M)2.82M
Price to Earnings (P/E)―
Beta (1Y)1.96
Revenue GrowthN/A
EPS Growth90.18%
CountryAU
Employees3
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding856,102,900
10 Day Avg. Volume3,579,340
30 Day Avg. Volume2,824,627
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)2.62
Price to Sales (P/S)0.00
P/FCF Ratio-1.41
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
NickelSearch Ltd. Business Overview & Revenue Model
Company Description
Antares Metals Limited, including its associated entities, is primarily engaged in the discovery and assessment of mineral resources throughout Australia. The company targets a diverse range of valuable elements, such as copper, uranium, gold, sil...
NickelSearch Ltd. Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
34
Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -13.14K | -18.07K | 0.00 | 0.00 | 0.00 |
| EBITDA | -2.97M | -5.07M | -15.53M | -2.02M | -1.87M |
| Net Income | -2.52M | -4.57M | -15.62M | -2.08M | -1.88M |
Balance Sheet | |||||
| Total Assets | 3.47M | 3.87M | 4.88M | 15.96M | 14.31M |
| Cash, Cash Equivalents and Short-Term Investments | 1.06M | 1.37M | 1.68M | 1.90M | 4.61M |
| Total Debt | 0.00 | 0.00 | 0.00 | 132.84K | 0.00 |
| Total Liabilities | 2.41M | 2.42M | 2.63M | 3.09M | 1.89M |
| Stockholders Equity | 1.05M | 1.45M | 2.25M | 12.88M | 12.42M |
Cash Flow | |||||
| Free Cash Flow | -2.69M | -2.69M | -3.94M | -4.87M | -4.99M |
| Operating Cash Flow | -2.69M | -2.68M | 0.00 | 0.00 | 0.00 |
| Investing Cash Flow | -174.19K | -53.66K | -1.65M | -3.34M | -3.34M |
| Financing Cash Flow | 956.53K | 2.42M | 3.42M | 2.16M | 9.09M |
NickelSearch Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
45 Neutral | AU$5.56M | -1.22 | -201.34% | ― | ― | 90.18% | |
45 Neutral | AU$21.62M | -1.06 | -7.37% | ― | ― | -34.88% | |
43 Neutral | AU$13.54M | -0.40 | -328.72% | ― | ― | -189.10% | |
42 Neutral | AU$14.60M | -3.15 | -19.15% | ― | ― | 93.90% | |
41 Neutral | AU$29.78M | -1.33 | -107.26% | 26.19% | ― | 71.99% |
* Basic Materials Sector Average
AU:AM5
NickelSearch Ltd.
0.01
0.00
0.00%
AU:NMT
Neometals Ltd
0.03
-0.02
-34.00%
AU:WIN
Widgie Nickel Limited
0.02
>-0.01
-5.26%
AU:GT1
Green Technology Metals Limited
0.02
-0.02
-56.41%
AU:CCM
FYI Resources Limited
0.03
>-0.01
-21.05%
AU:EG1
Evergreen Lithium Ltd.
0.03
<0.01
3.33%
NickelSearch Ltd. Corporate Events
Antares Metals Secures WA Funding and Advances Drilling Across Key Copper-Gold Projects
Jul 31, 2026
Antares Metals reported material progress across its Western Australian and Queensland exploration hubs in the June quarter, highlighting advances at the Quinns Copper-Gold VMS Project and the Mt Isa North Copper-Uranium Project. The company conti...
Antares Wins Approval and Funding to Drill High-Grade Copper Targets at Quinns
Jul 21, 2026
Antares Metals has secured regulatory approval for its Program of Works at the Quinns Copper-Gold-Zinc VMS Project in Western Australia, allowing heritage surveys to begin in mid-August 2026 ahead of a maiden drilling campaign. Backed by $237,500 ...
Antares Metals Hits Target Vein System in Maiden Conglomerate Creek Drilling
Jul 8, 2026
Antares Metals has completed a maiden six-hole, 780m reverse circulation drilling program at the Conglomerate Creek Target 2 prospect within its Mount Isa North Copper Project in Queensland. The campaign is the first sub-surface test of a 2km by 2...
Antares Metals Launches Maiden Drilling at High-Grade Conglomerate Creek Prospect
Jun 9, 2026
Antares Metals has commenced a maiden 1,000m reverse circulation drilling campaign at the Conglomerate Creek prospect within its Mount Isa North Copper Project, marking the first subsurface test of seven high-priority geophysical anomalies. The pr...
Antares flags high-grade gold and fast-tracks drilling at Quinns project
May 26, 2026
Antares Metals has reported multiple high-grade gold rock chip results from its Quinns project in Western Australia, including samples grading up to 41.7 grams per tonne gold from three separate historic workings. The Quinns tenement, historically...
Antares Metals wins WA backing to fast-track Quinns copper exploration
May 8, 2026
Antares Metals has secured A$237,500 in combined Western Australian government funding to support exploration at its Quinns copper-gold-zinc project in the Murchison region. The package, awarded under the state’s Exploration Incentive Scheme...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.