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Askari Metals Limited
(Sydney:AS2)
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Rating:44Neutral
Price Target:
AU$0.01
â–²(0.00% Upside)
Action:Reiterated
Date:10/02/26
The score is primarily weighed down by weak financial performance—persistent losses, minimal/volatile revenue, and ongoing negative operating/free cash flow—indicating reliance on external funding. Valuation also provides limited support due to a negative P/E and no dividend yield data. Technical analysis is neutral because key indicators were not provided.
Positive Factors
Low leverage
Modest leverage reduces immediate solvency pressure and limits the interest burden on a company that is not yet profitable. This provides some balance-sheet flexibility to pursue exploration or operational priorities, although it does not offset the need to improve earnings and cash generation.
Negative Factors
Minimal and volatile revenue
Minimal and inconsistent revenue indicates that the business has not yet established a dependable commercial base. The drop to zero revenue in 2026 makes forecasting difficult and limits the company’s ability to fund operations internally or demonstrate durable demand.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage
Modest leverage reduces immediate solvency pressure and limits the interest burden on a company that is not yet profitable. This provides some balance-sheet flexibility to pursue exploration or operational priorities, although it does not offset the need to improve earnings and cash generation.
Read all positive factors
Askari Metals Limited (AS2) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$6.93M
Dividend YieldN/A
Average Volume (3M)903.07K
Price to Earnings (P/E)―
Beta (1Y)0.82
Revenue GrowthN/A
EPS Growth83.09%
CountryAU
Employees2
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding865,845,400
10 Day Avg. Volume576,795
30 Day Avg. Volume903,074
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)0.61
Price to Sales (P/S)0.00
P/FCF Ratio-2.12
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
Askari Metals Limited Business Overview & Revenue Model
Company Description
Based in Perth, Australia, Askari Metals Limited was founded in 2020 and initially operated as Askari Gold Limited before rebranding in February 2021. The company is actively involved in identifying, exploring, and developing mineral resources, pr...
How the Company Makes Money
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Askari Metals Limited Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
62
Positive
Cash Flow
24
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 30.33K | 11.65K | 20.68K | 0.00 |
| Gross Profit | -10.73K | 30.33K | 11.65K | -217.23K | -52.59K |
| EBITDA | -3.44M | -6.81M | -4.81M | -5.59M | -2.19M |
| Net Income | -3.56M | -7.14M | -5.18M | -6.21M | -2.25M |
Balance Sheet | |||||
| Total Assets | 8.64M | 7.79M | 11.33M | 12.29M | 7.27M |
| Cash, Cash Equivalents and Short-Term Investments | 941.81K | 24.66K | 221.84K | 3.46M | 4.35M |
| Total Debt | 294.36K | 819.93K | 850.22K | 55.79K | 92.98K |
| Total Liabilities | 1.41M | 1.62M | 2.21M | 1.29M | 383.22K |
| Stockholders Equity | 7.23M | 6.17M | 9.13M | 11.00M | 6.89M |
Cash Flow | |||||
| Free Cash Flow | -2.07M | -2.79M | -4.99M | -6.40M | -3.53M |
| Operating Cash Flow | -2.06M | -2.50M | -2.49M | -4.15M | -1.87M |
| Investing Cash Flow | 2.37K | -172.91K | -2.50M | -2.23M | -1.82M |
| Financing Cash Flow | 2.29M | 2.47M | 1.76M | 5.50M | 2.23M |
Askari Metals Limited 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% | |
44 Neutral | AU$6.93M | -1.16 | -45.74% | ― | ― | 83.09% | |
43 Neutral | AU$5.01M | -2.21 | -77.64% | ― | ― | 63.51% | |
42 Neutral | AU$4.03M | -1.75 | -22.16% | ― | ― | 31.71% | |
41 Neutral | AU$9.48M | -1.77 | -102.37% | 2.99% | ― | -267.57% | |
40 Underperform | AU$5.20M | -1.24 | -97.22% | ― | ― | 48.84% | |
36 Underperform | AU$3.72M | -0.54 | -119.59% | ― | ― | 49.67% |
* Basic Materials Sector Average
AU:AS2
Askari Metals Limited
0.01
0.00
0.00%
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0.01
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0.01
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-30.00%
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Lycaon Resources Ltd.
0.16
-0.02
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0.02
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-42.50%
Askari Metals Limited Corporate Events
Askari Metals to Lift Escrow on 5.04 Million Shares Without Changing Capital Base
Oct 2, 2026
Askari Metals Limited, listed on the ASX, is an Africa-focused exploration company concentrating on gold and critical minerals through its Nejo Project in Ethiopia and Uis Project in Namibia. The Nejo Project targets brownfields gold and copper on...
Askari Metals Files Updated ASX Corporate Governance Disclosures
Sep 30, 2026
Askari Metals Limited has lodged its Appendix 4G and confirmed that its corporate governance statement for the year to 30 June 2026 is current as at 30 September 2026 and approved by the board. The statement is published on the company’s web...
Askari Metals Releases Comprehensive 2026 Annual Report
Sep 30, 2026
Askari Metals Limited has released its annual report for the year ended 30 June 2026, providing a comprehensive set of consolidated financial statements and detailed notes. The report outlines profit or loss, financial position, cash flows, change...
Askari Metals Sets 2026 AGM Date and Director Nomination Deadline
Sep 24, 2026
Askari Metals has scheduled its next Annual General Meeting for Thursday, 19 November 2026, in line with ASX Listing Rule requirements and its constitution. The company has set 5.00pm WST on Thursday, 1 October 2026 as the deadline for written nom...
Askari Metals Issues New Shares and Options, Settles Creditor Fees
Sep 11, 2026
Askari Metals Limited has completed share issues totalling 37,523,067 fully paid ordinary shares and 15,000,000 quoted options exercisable at $0.022, expiring on 31 December 2028. Of these, 15,000,000 shares at $0.01 each with accompanying options...
Askari Metals Completes Issue of Unquoted Securities Under Prior Transaction
Sep 11, 2026
Askari Metals has notified the ASX of the issue of new unquoted securities that form part of a previously announced transaction, confirmed via an Appendix 3B also lodged on 11 September 2026. The securities, which are not intended to be quoted on ...
Askari Metals Issues 20 Million Unquoted Performance Rights
Sep 11, 2026
Askari Metals Limited has notified the market of the issue of 20,000,000 unquoted performance rights, designated under ASX security code AS2AR, effective 11 September 2026. The move reflects a structured equity-based incentive arrangement that may...
Askari Metals Seeks ASX Quotation for 22.5 Million New Shares
Sep 11, 2026
Askari Metals Limited has lodged a new Appendix 2A application with the ASX for quotation of additional ordinary fully paid shares. The filing covers the admission to trading of 22,523,067 new AS2 securities issued on September 11, 2026.The move f...
Askari Metals Plans Multi-Class Securities Placement on ASX
Sep 11, 2026
Askari Metals Limited has announced a proposed issue of securities comprising up to 45 million instruments through a placement. The issuance includes 15 million new ordinary fully paid shares, 15 million unquoted options, and 15 million listed opt...
Askari Metals Updates ASX Filing to Amend Option Security Codes
Sep 11, 2026
Askari Metals Limited has lodged an updated Appendix 3B with the ASX, outlining a proposed issue of securities via a placement or similar capital-raising mechanism. The filing reflects the company’s ongoing use of equity markets to support i...
Askari Metals Plans New Share and Options Placement
Sep 10, 2026
Askari Metals Limited has lodged an Appendix 3B with the ASX outlining a proposed placement and related securities issue. The company plans to issue up to 15 million ordinary fully paid shares alongside 30 million options with differing strike pri...
Askari Metals Converts Director Loan and Issues Shares to Bolster Equity Base
Sep 7, 2026
Askari Metals Limited has issued 39,588,525 fully paid ordinary shares, primarily through the conversion of a director loan and the issuance of shares in lieu of director fees at an issue price of $0.008 per share. The transaction strengthens the ...
Askari Metals Seeks ASX Quotation for 39.6 Million New Shares
Sep 7, 2026
Askari Metals Limited has applied to the ASX for quotation of 39,588,525 ordinary fully paid shares under its existing issuer code AS2. The new securities, issued on 7 September 2026, formalise the listing of previously announced share transaction...
Askari Metals to Lift Escrow on 25 Million Shares in 2026
Sep 3, 2026
Askari Metals has disclosed that 24,999,999 fully paid ordinary shares, issued as part of the consideration for its acquisition of the Adola Greenstone Belt Gold project, will be released from voluntary escrow on 3 September 2026. Once released, t...
Askari Metals Accelerates Exploration at Uis Critical Metals Project in Namibia
Sep 2, 2026
Askari Metals is intensifying exploration at its Uis Critical Metals Project in Namibia, a polymetallic pegmatite district offering exposure to tin, tantalum, lithium, rubidium and caesium. The company continues to pursue a data-driven program acr...
Askari Metals Shareholders Back Capital-Raising Resolutions at General Meeting
Aug 12, 2026
Askari Metals Limited reported the outcomes of its 12 August 2026 general meeting, where shareholders voted on a series of capital-raising and securities-related resolutions. The chair cast all open proxy votes in favour of the 18 resolutions, and...
Askari Metals appoints new CFO as it advances African gold and critical minerals projects
Aug 5, 2026
Askari Metals Limited, an African-focused mineral exploration company, is advancing a portfolio of gold and critical minerals projects in Ethiopia and Namibia. Its flagship Nejo gold and copper project on the Arabian-Nubian Shield and its 100%-own...
Askari Metals Positions African Projects for Active Exploration Phase
Jul 30, 2026
Askari Metals used the June quarter to advance technical, logistical and stakeholder work programs across its flagship Nejo Gold-Copper Project in Ethiopia and its Uis critical metals project in Namibia. The company’s work reinforces its foc...
Askari Metals Adjourns Meeting to Finalise Rebrand to Highland Metals
Jul 29, 2026
Askari Metals has moved to refine its corporate identity while advancing its African exploration portfolio, which spans gold and critical minerals projects in Ethiopia and Namibia. The Nejo Project surrounds the Tulu Kapi Gold Mine and lies along ...
Askari Metals Tightens Governance After ASX Listing Rule Breach
Jul 8, 2026
Askari Metals Limited has disclosed that it inadvertently issued securities on 16 December to a related party captured by ASX Listing Rule 10.11 without prior shareholder approval, prompting regulatory scrutiny. The ASX directed the company to app...
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.