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Black Canyon Limited (BCA) AI Stock Analysis
Black Canyon Limited
(ASX:BCA)
The score is held down primarily by the financial profile: no commercial revenue, persistent annual losses of around A$1.8m–A$2.0m, and a widening operating cash burn that leaves the company reliant on further share issuance and dilution. The key strength is a debt-free balance sheet with equity doubling to A$20.1m, funding nearly all assets and providing meaningful runway. Technicals are neutral-to-soft, with the price below its 100- and 200-day averages and a slightly negative MACD despite a neutral RSI. Valuation offers no support, with a negative P/E and no dividend. This is a speculative exploration-stage holding where the investment case depends on drilling results and disciplined deployment of its cash balance.
Black Canyon Limited (BCA) vs. iShares MSCI Australia ETF (EWA)
- Market Cap
- AUD 47.89M
- Dividend Yield
- ―
- Average Volume (3M)
- 209.62K
- Price to Earnings (P/E)
- -24.4
- Beta (1Y)
- 0.72
- Revenue Growth
- ―
- EPS Growth
- -407.89%
- Country
- Australia
- Employees
- 3
- Sector
- Basic Materials
- Sector Strength
- 61
- Industry
- Industrial Materials
Black Canyon Limited Business Overview & Revenue Model
Company Description
Black Canyon Limited, operating alongside its subsidiaries, is an Australian firm dedicated to mineral exploration, specifically seeking out deposits of manganese, copper, and cobalt. Its premier venture, the Flanagan Bore Project, is strategically l...
Black Canyon Limited Financial Statement Overview
Summary
Black Canyon is a pre-revenue junior explorer. Revenue fell to zero in FY2026 from A$273k, with an operating loss near A$2.0m and a net loss of A$1.8m, continuing a multi-year pattern of losses (income statement score 14). Cash flow is also weak: operating outflow widened to roughly A$1.56m and the company has never generated positive operating cash flow, leaving it dependent on equity raisings and shareholder dilution (cash flow score 18). The clear offset is a very strong balance sheet (score 71) — zero debt across every year, equity doubling to A$20.1m and funding about 97% of the A$20.8m asset base, providing several years of runway at the current burn rate. Overall, a funding-and-runway story rather than an earnings story.
Income Statement
14Very NegativeBalance Sheet
71PositiveCash Flow
18Very Negative| Breakdown | TTM | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0 | 0 | 273.35K | 513.24K | 40.63K | 13.04K |
| Gross Profit | -13.60K | -13.60K | 273.35K | 513.24K | 21.48K | 5,030 |
| EBITDA | -1.96M | -1.96M | 387.50K | -759.77K | -2.00M | -1.20M |
| Net Income | -1.80M | -1.80M | 378.75K | -1.99M | -2.02M | -1.21M |
Balance Sheet | ||||||
| Total Assets | 20.83M | 20.83M | 10.23M | 6.31M | 6.14M | 8.28M |
| Cash, Cash Equivalents and Short-Term Investments | 7.77M | 7.77M | 2.22M | 669.04K | 1.13M | 4.75M |
| Total Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 716.21K | 716.21K | 327.82K | 264.58K | 540.53K | 897.48K |
| Stockholders Equity | 20.12M | 20.12M | 9.90M | 6.05M | 5.60M | 7.39M |
Cash Flow | ||||||
| Free Cash Flow | -1.57M | -1.57M | -1.92M | -2.26M | -3.62M | -3.07M |
| Operating Cash Flow | -1.56M | -1.56M | -857.85K | -733.62K | -1.23M | -1.09M |
| Investing Cash Flow | -3.45M | -3.45M | -1.06M | -1.52M | -2.40M | -1.98M |
| Financing Cash Flow | 10.57M | 10.57M | 3.44M | 1.80M | 0 | 3.04M |
Black Canyon Limited Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BCA, the sentiment is Negative. The current price of 0.28 is below the 20-day moving average (MA) of 0.31, below the 50-day MA of 0.32, and below the 200-day MA of 0.34, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 37.84 is Neutral, neither overbought nor oversold. The STOCH value of 16.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:BCA.
Black Canyon Limited Peers Comparison
Overall Rating
AU:DRX44Neutral
AU:BCA44Neutral
AU:FLG43Neutral
AU:ZNC42Neutral
AU:BSX37Underperform
AU:AT434Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| Sector * | 61Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
| 44Neutral | AUD 72.62M | -23.87 | -3.35% | ― | ― | ― | |
| 44Neutral | AUD 47.89M | -24.36 | -8.79% | ― | ― | -407.89% | |
| 43Neutral | AUD 50.26M | -3.98 | -63.91% | ― | ― | -140.38% | |
| 42Neutral | AUD 45.43M | -46.67 | -3.47% | ― | 185.18% | 80.00% | |
| 37Underperform | AUD 44.36M | -3.02 | -16.19% | ― | ― | 46.91% | |
| 34Underperform | AUD 120.84M | -6.24 | -253.72% | ― | ― | -11.20% |
* Basic Materials Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| AU:BCA | Black Canyon Limited | 0.28 | -0.09 | -22.97% | |
| AU:ZNC | Zenith Minerals Limited | 0.07 | -0.03 | -27.08% | |
| AU:DRX | Diatreme Resources Limited | 0.01 | -0.01 | -33.33% | |
| AU:BSX | Blackstone Minerals Ltd | 0.03 | -0.02 | -48.00% | |
| AU:FLG | Flagship Minerals Limited | 0.14 | -0.02 | -9.38% | |
| AU:AT4 | Trigg Mining Ltd. | 0.04 | -0.11 | -72.00% |
Black Canyon Limited Corporate Events
Black Canyon Issues Shares on Option Exercise and Confirms Compliance
Black Canyon Limited has issued 235,713 fully paid ordinary shares following the exercise of an equivalent number of unlisted options at $0.14, slightly expanding its share base within an already concentrated register. The transaction is part of its...
Black Canyon Seeks ASX Quotation for New Share Issue
Black Canyon Limited has lodged an application with the ASX for the quotation of 235,713 new ordinary fully paid shares, to be issued on October 9, 2026. The move modestly enlarges the company’s free-float and tradable share base, signaling con...
Black Canyon Issues New Shares on Option Exercise, Affirms Compliance
Black Canyon Limited has modestly expanded its share capital with the issue of 569,499 fully paid ordinary shares following the exercise of an equivalent number of unlisted options priced at $0.14 and expiring on 14 October 2026. The new shares margi...
Black Canyon Limited Seeks ASX Quotation for Additional Shares
Black Canyon Limited has applied for quotation of 569,499 new ordinary fully paid shares on the Australian Securities Exchange, expanding its listed securities under the ASX issuer code BCA. The issuance, dated October 5, 2026, reflects the company&#...
Black Canyon Unveils Major Manganese and Iron Resource at Wandanya
Black Canyon Limited has reported a maiden mineral resource estimate for its 100%-owned Wandanya manganese deposit, confirming 23.6Mt at 25.8% Mn alongside 12.5Mt at 54.9% Fe. The company highlights significant potential for direct ship ore, supporte...
Black Canyon Lists 428,570 New Shares on ASX
Black Canyon Limited has applied to the Australian Securities Exchange for the quotation of 428,570 new ordinary fully paid shares under its ASX code BCA. The new securities were issued on September 24, 2026, following the exercise or conversion of e...
Black Canyon Issues New Shares on Option Exercise, Confirms Regulatory Compliance
Black Canyon Limited has issued 1,000,000 fully paid ordinary shares following the exercise of an equal number of unlisted options at $0.14, modestly expanding its share base and reflecting additional investor participation in the company’s equ...
Black Canyon Tightens Governance Framework While Eschewing Formal Diversity Targets
Black Canyon Limited has detailed how it applies the ASX Corporate Governance Council’s principles, confirming broad compliance while tailoring structures to its modest operational scale. The company uses a comprehensive Corporate Governance Pl...
Black Canyon Details ASX-Aligned Corporate Governance Framework
Black Canyon Limited has confirmed that its corporate governance statement for the year ended 30 June 2026 is current as at 22 September 2026 and is available on its website, in accordance with ASX Listing Rules. The annexed Appendix 4G filing outlin...
Black Canyon Releases 2026 Annual Report Detailing Operations and Governance
Black Canyon Limited has released its Annual Report for the year ended 30 June 2026, detailing its operating and financial performance, governance structures, and audited financial statements. The report also includes resource and reserve statements...
Black Canyon Sets AGM Date and Opens Director Nomination Window
Black Canyon Limited has scheduled its Annual General Meeting for 17 November 2026 in West Perth, setting the stage for key governance decisions including the re-election and appointment of directors. The company has also opened a formal window for d...
Black Canyon Issues New Shares on Option Exercise, Confirms Compliance
Black Canyon Limited has confirmed an update to its capital structure following the issue of 142,857 fully paid ordinary shares on 15 September 2026, arising from the exercise of an equal number of unlisted options at an exercise price of $0.14 ahead...
Black Canyon Expands ASX-Quoted Share Base With New Issue
Black Canyon Limited has lodged an application with the ASX for the quotation of an additional 142,857 ordinary fully paid shares under its existing BCA ticker. The new securities were issued on September 15, 2026, increasing the number of quoted sha...
Black Canyon Issues New Shares on Option Exercise, Affirms Compliance
Black Canyon Limited has issued 714,285 fully paid ordinary shares following the exercise of an equal number of unlisted options at $0.14, which were due to expire in October 2026. The company has notified the ASX that these shares were issued withou...
Black Canyon Issues New Shares on Option Exercise, Confirms Regulatory Compliance
Black Canyon Limited has strengthened its capital base with the issuance of 178,571 fully paid ordinary shares following the exercise of an equal number of unlisted options priced at $0.14 and expiring in October 2026. This modest increase in issued...
Black Canyon Seeks ASX Quotation for Additional Ordinary Shares
Black Canyon Limited has lodged a new application with the ASX for quotation of additional ordinary fully paid shares under its existing issuer code BCA. The move reflects the company’s continued utilisation of the public equity markets and adh...
Black Canyon Director Boosts Equity Stake via Option Exercise
Black Canyon Limited has disclosed a change in director Graham Ascough’s indirect interests, with his holdings updated through transactions involving personal superannuation and family trust structures. The filing clarifies that his interests a...
Black Canyon Director Simon Taylor Exercises Options, Increases Shareholding
Black Canyon Limited has disclosed a change in director Simon Taylor’s indirect interests in the company’s securities. Taylor holds his stake through the Jimbzal Taylor Family account and the Jimbzal Super account, where he is both direct...
Black Canyon Director Brendan Cummins Exercises Options to Increase Shareholding
Black Canyon Limited has reported a change in director Brendan Cummins’ indirect interests in the company, following the exercise of unlisted options. Cummins, through family-related entities, converted 249,999 unlisted options at an exercise p...
Black Canyon Director Adrian Hill Lifts Equity Stake Through Option Exercise
Black Canyon Limited has reported a change in director Adrian Hill’s relevant interests in company securities, as required under ASX listing rules. Hill’s holdings are indirect, held via Samatzo Holdings Pty Ltd , and comprise fully paid...
Black Canyon Issues New Shares on Option Exercise Under Cleansing Notice
Black Canyon Limited has issued 857,140 fully paid ordinary shares following the exercise of an equivalent number of unlisted options at an exercise price of $0.14, which modestly increases its share count and reflects option holders converting their...
Black Canyon expands ASX-quoted share base with new BCA securities
Black Canyon Limited has lodged an application with the ASX for quotation of additional ordinary fully paid shares under its existing BCA ticker, signalling a modest expansion of its listed equity base. The move involves 857,140 new shares issued on...
Black Canyon Extends High-Grade Manganese Footprint at Wandanya Ahead of Maiden Resource
Black Canyon has reported the final assays from its resource definition and expansion drilling at the Wandanya manganese project, confirming consistent high-grade, shallow stratiform mineralisation across a 3km base case footprint. The campaign has e...
Black Canyon Issues New Shares on Option Exercise, Confirms Regulatory Compliance
Black Canyon Limited has issued 1,428,572 fully paid ordinary shares following the exercise of an equal number of unlisted options at $0.14, which are due to expire in October 2026. The company has confirmed that these shares were issued without a fo...
Black Canyon Seeks ASX Quotation for 1.43 Million New Shares
Black Canyon Limited has applied for quotation of 1,428,572 new ordinary fully paid shares on the Australian Securities Exchange, with an issue date of August 10, 2026. The securities arise from the exercise or conversion of existing options or other...
Black Canyon Advances Wandanya Manganese and Iron Project With High-Grade Drilling and Premium-Grade Testwork
Black Canyon Limited reported substantial progress at its Wandanya Manganese and Iron Project during the June quarter, completing 17,200 metres of reverse circulation drilling across a 3km mineralised footprint and extending mineralisation 300 metres...
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.
Date of analysis: Oct 22, 2026