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NickelSearch Ltd.
(Sydney:AM5)
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Rating:42Neutral
Price Target:
AU$0.01
â–²(0.00% Upside)
Action:Reiterated
Date:10/04/26
The score is primarily constrained by weak financial performance: no reported revenue, ongoing losses, and continued negative operating/free cash flow despite some improvement and low leverage. Valuation provides limited support due to negative earnings and no dividend yield, while technical analysis is scored neutral because key indicators were not available.
Positive Factors
Low leverage
Very low leverage reduces refinancing pressure and interest obligations, preserving financial flexibility while the company remains early stage. A debt-light balance sheet can provide greater capacity to pursue development priorities or withstand operating volatility than a highly indebted structure.
Negative Factors
Pre-revenue business
An absence of reported revenue means the company has not yet demonstrated commercial scale, customer monetization, or a recurring operating base. This leaves the path to profitability dependent on future revenue generation and makes earnings quality and business visibility structurally weak.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage
Very low leverage reduces refinancing pressure and interest obligations, preserving financial flexibility while the company remains early stage. A debt-light balance sheet can provide greater capacity to pursue development priorities or withstand operating volatility than a highly indebted structure.
Read all positive factors
NickelSearch Ltd. (AM5) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$6.42M
Dividend YieldN/A
Average Volume (3M)2.82M
Price to Earnings (P/E)―
Beta (1Y)2.04
Revenue GrowthN/A
EPS Growth65.85%
CountryAU
Employees3
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding1,070,128,700
10 Day Avg. Volume3,579,340
30 Day Avg. Volume2,824,627
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)2.26
Price to Sales (P/S)0.00
P/FCF Ratio-1.74
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
12
Very Negative
Balance Sheet
44
Neutral
Cash Flow
18
Very Negative
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -10.34K | -18.07K | 0.00 | 0.00 | 0.00 |
| EBITDA | -2.77M | -5.07M | -15.53M | -2.02M | -1.87M |
| Net Income | -2.76M | -4.57M | -15.62M | -2.08M | -1.88M |
Balance Sheet | |||||
| Total Assets | 4.42M | 3.87M | 4.88M | 15.96M | 14.31M |
| Cash, Cash Equivalents and Short-Term Investments | 581.44K | 1.37M | 1.68M | 1.90M | 4.61M |
| Total Debt | 0.00 | 0.00 | 0.00 | 132.84K | 0.00 |
| Total Liabilities | 2.61M | 2.42M | 2.63M | 3.09M | 1.89M |
| Stockholders Equity | 1.80M | 1.45M | 2.25M | 12.88M | 12.42M |
Cash Flow | |||||
| Free Cash Flow | -2.34M | -2.69M | -3.94M | -4.87M | -4.99M |
| Operating Cash Flow | -2.34M | -2.68M | 0.00 | 0.00 | 0.00 |
| Investing Cash Flow | -315.02K | -53.66K | -1.65M | -3.34M | -3.34M |
| Financing Cash Flow | 1.87M | 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% | |
46 Neutral | AU$18.08M | -2.31 | -3.88% | ― | ― | 61.90% | |
45 Neutral | AU$23.21M | -2.86 | -43.52% | 26.19% | ― | 76.51% | |
45 Neutral | AU$18.90M | -4.26 | -21.01% | ― | ― | 93.65% | |
44 Neutral | AU$10.92M | -4.73 | -22.82% | ― | ― | 93.04% | |
42 Neutral | AU$6.42M | -1.43 | -192.77% | ― | ― | 65.85% |
* Basic Materials Sector Average
AU:AM5
NickelSearch Ltd.
0.01
0.00
0.00%
AU:NMT
Neometals Ltd
0.03
-0.04
-59.38%
AU:WIN
Widgie Nickel Limited
0.02
-0.02
-45.24%
AU:GT1
Green Technology Metals Limited
0.02
-0.02
-53.13%
AU:CCM
FYI Resources Limited
0.03
-0.02
-48.98%
AU:EG1
Evergreen Lithium Ltd.
0.03
-0.03
-56.67%
NickelSearch Ltd. Corporate Events
Antares Metals Begins Maiden Drilling at Quinns Gold and Copper Project
Oct 2, 2026
Antares Metals Ltd, listed on the ASX as AM5, is a mineral exploration company focused on gold and copper projects in Western Australia and copper and uranium assets at Mt Isa North. Its flagship Quinns Gold and Copper Project spans 383 square kil...
Antares Metals Sets AGM Date and Director Nomination Deadline
Oct 1, 2026
Antares Metals Ltd has scheduled its Annual General Meeting for 24 November 2026, with full details to be provided in a forthcoming Notice of Meeting to shareholders. The company continues to follow ASX governance and disclosure rules, underscorin...
Antares Metals Sets Out Governance and Directory in 2026 Annual Report
Sep 30, 2026
Antares Metals Limited is an Australian-listed resources company focused on metals exploration and development, with its shares traded on the ASX under the code AM5. The company operates from West Perth, Western Australia, and is overseen by a boa...
Antares Metals Sets October 2026 General Meeting, Urges Online Proxy Voting
Sep 18, 2026
Antares Metals Limited has called a General Meeting of shareholders for 19 October 2026 at its registered office in West Perth, Western Australia. The company will largely rely on electronic distribution of the Notice of Meeting and related docume...
Antares Metals calls October 2026 meeting to ratify major share placement and options issue
Sep 18, 2026
Antares Metals Limited has called a general meeting for 10:00am AWST on 19 October 2026 at its registered office in West Perth, Western Australia, to seek shareholder approvals related to recent and proposed capital raisings. The meeting will cons...
Antares Metals Issues Tranche 1 Placement Shares and Confirms Regulatory Compliance
Sep 17, 2026
Antares Metals has issued 214,025,723 fully paid ordinary shares to participants in the first tranche of a placement and confirmed that these shares were issued without a prospectus under the disclosure exemptions of the Corporations Act. The comp...
Antares Metals Seeks ASX Quotation for Over 214 Million New Shares
Sep 17, 2026
Antares Metals Limited has lodged a new application with the ASX for quotation of 214,025,723 ordinary fully paid shares under the ticker AM5. The securities, issued on 17 September 2026 as part of previously announced transactions, expand the com...
Antares Metals Plans Major Options and Share Placement on ASX
Sep 10, 2026
Antares Metals Limited has notified the ASX of a proposed issue of securities, comprising up to 148,506,431 unlisted options with a three-year term and an exercise price of $0.012, alongside 33,209,043 ordinary fully paid shares. The issue is stru...
Antares Metals Plans Major Share and Option Issue on ASX
Sep 10, 2026
Antares Metals Limited has announced a proposed issue of securities on the ASX, comprising up to 514,025,723 new ordinary fully paid shares and 257,012,862 unlisted options with a three-year term and an exercise price of $0.012. The issuance, stru...
Antares Metals Raises $2.57m to Accelerate Exploration Across WA and QLD
Sep 10, 2026
Antares Metals has secured firm commitments to raise $2.57 million through a discounted two-tranche share placement to professional and sophisticated investors, accompanied by free attaching options, to bolster exploration across its Western Austr...
Antares Metals Requests Trading Halt Ahead of Capital Raising Announcement
Sep 7, 2026
Antares Metals Ltd has requested a trading halt on its ASX-listed securities, effective immediately, as it prepares a material announcement related to a planned capital raising. The halt will remain in place until the announcement is released or n...
Antares Metals Uncovers High-Grade Gold Targets at Quinns Project
Aug 16, 2026
Antares Metals has confirmed widespread high-grade gold mineralisation across three prospects at its Quinns Gold and Copper-Zinc VMS Project in Western Australia. Recent rock chip sampling returned assays up to 65.2 grams per tonne gold, with mult...
Antares Metals Confirms Copper at Depth in Maiden Conglomerate Creek Drilling
Aug 13, 2026
Antares Metals has reported maiden reverse circulation drilling results from the Conglomerate Creek Target 2 prospect at its Mount Isa North Copper Project, confirming copper mineralisation in all six holes drilled. The program intersected the sam...
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...
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.