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Black Canyon Limited
(Sydney:BCA)
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Rating:40Underperform
Price Target:
AU$0.29
â–Ľ(-12.12% Downside)
Action:Downgraded
Date:09/25/26
The score is held down primarily by weak financial performance (revenue dropping to zero, recurring losses, and persistent negative operating/free cash flow). Technical indicators add modest downside bias (below key moving averages with negative MACD), while valuation is a further drag due to the extremely high P/E and lack of dividend support.
Positive Factors
Debt-free balance sheet
A debt-free structure reduces fixed financial obligations and limits exposure to refinancing or interest-rate pressure. This gives Black Canyon greater balance-sheet flexibility than a leveraged peer, although that advantage will matter most if management can eventually restore operating profitability and cash generation.
Negative Factors
Revenue collapse
Revenue falling to zero represents a severe deterioration in commercial activity and leaves no demonstrated recurring sales base to support operations. Unless revenue is rebuilt, the company will struggle to cover costs, generate operating leverage, or establish a durable path toward sustainable profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
A debt-free structure reduces fixed financial obligations and limits exposure to refinancing or interest-rate pressure. This gives Black Canyon greater balance-sheet flexibility than a leveraged peer, although that advantage will matter most if management can eventually restore operating profitability and cash generation.
Read all positive factors
Black Canyon Limited (BCA) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$50.94M
Dividend YieldN/A
Average Volume (3M)61.46K
Price to Earnings (P/E)―
Beta (1Y)0.86
Revenue GrowthN/A
EPS Growth-407.89%
CountryAU
Employees3
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)N/A
Shares Outstanding167,021,030
10 Day Avg. Volume45,567
30 Day Avg. Volume61,456
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)3.01
Price to Sales (P/S)0.00
P/FCF Ratio-38.53
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
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 strategicall...
Black Canyon Limited Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
64
Positive
Cash Flow
22
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 273.35K | 513.24K | 40.63K | 13.04K |
| Gross Profit | -13.60K | 273.35K | 513.24K | 21.48K | 5.03K |
| EBITDA | -1.96M | 1.58M | -759.77K | -2.00M | -1.20M |
| Net Income | -1.80M | 378.75K | -1.99M | -2.02M | -1.21M |
Balance Sheet | |||||
| Total Assets | 20.83M | 10.23M | 6.31M | 6.14M | 8.28M |
| Cash, Cash Equivalents and Short-Term Investments | 7.77M | 2.22M | 669.04K | 1.13M | 4.75M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 716.21K | 327.82K | 264.58K | 540.53K | 897.48K |
| Stockholders Equity | 20.12M | 9.90M | 6.05M | 5.60M | 7.39M |
Cash Flow | |||||
| Free Cash Flow | -1.57M | -1.92M | -2.26M | -3.62M | -3.07M |
| Operating Cash Flow | -1.56M | -857.85K | -733.62K | -1.23M | -1.09M |
| Investing Cash Flow | -3.45M | -1.06M | -1.52M | -2.40M | -1.98M |
| Financing Cash Flow | 10.57M | 3.44M | 1.80M | 0.00 | 3.04M |
Black Canyon Limited Technical Analysis
Negative
0.33
Price Trends
0.31
Negative
0.35
Negative
0.35
Negative
Market Momentum
>-0.01
Positive
43.18
Neutral
-20.00
Positive
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 0.33 is above the 20-day moving average (MA) of 0.31, above the 50-day MA of 0.31, and below the 200-day MA of 0.35, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 43.18 is Neutral, neither overbought nor oversold. The STOCH value of -20.00 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
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% | |
57 Neutral | AU$51.23M | -18.18 | -10.33% | ― | 74.61% | 33.33% | |
54 Neutral | AU$75.12M | -24.70 | -3.35% | ― | ― | ― | |
45 Neutral | AU$65.85M | -4.80 | -63.91% | ― | ― | -140.38% | |
42 Neutral | AU$76.78M | -3.50 | -16.67% | ― | ― | 42.00% | |
40 Underperform | AU$50.94M | -26.07 | -8.79% | ― | ― | -407.89% | |
34 Underperform | AU$118.54M | -6.24 | -253.72% | ― | ― | -114.86% |
* Basic Materials Sector Average
AU:BCA
Black Canyon Limited
0.31
-0.14
-30.68%
AU:ZNC
Zenith Minerals Limited
0.08
-0.06
-44.83%
AU:DRX
Diatreme Resources Limited
0.02
>-0.01
-16.67%
AU:BSX
Blackstone Minerals Ltd
0.04
-0.03
-43.84%
AU:FLG
Flagship Minerals Limited
0.18
0.03
25.00%
AU:AT4
Trigg Mining Ltd.
0.06
-0.11
-64.12%
Black Canyon Limited Corporate Events
Black Canyon Lists 428,570 New Shares on ASX
Sep 24, 2026
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 o...
Black Canyon Issues New Shares on Option Exercise, Confirms Regulatory Compliance
Sep 22, 2026
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 ...
Black Canyon Tightens Governance Framework While Eschewing Formal Diversity Targets
Sep 22, 2026
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...
Black Canyon Details ASX-Aligned Corporate Governance Framework
Sep 22, 2026
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 out...
Black Canyon Releases 2026 Annual Report Detailing Operations and Governance
Sep 22, 2026
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 statemen...
Black Canyon Sets AGM Date and Opens Director Nomination Window
Sep 17, 2026
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 fo...
Black Canyon Issues New Shares on Option Exercise, Confirms Compliance
Sep 15, 2026
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 ah...
Black Canyon Expands ASX-Quoted Share Base With New Issue
Sep 15, 2026
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 ...
Black Canyon Issues New Shares on Option Exercise, Affirms Compliance
Sep 10, 2026
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 wit...
Black Canyon Issues New Shares on Option Exercise, Confirms Regulatory Compliance
Aug 24, 2026
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 issu...
Black Canyon Seeks ASX Quotation for Additional Ordinary Shares
Aug 24, 2026
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 ...
Black Canyon Director Boosts Equity Stake via Option Exercise
Aug 19, 2026
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 interest...
Black Canyon Director Simon Taylor Exercises Options, Increases Shareholding
Aug 19, 2026
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 dir...
Black Canyon Director Brendan Cummins Exercises Options to Increase Shareholding
Aug 19, 2026
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 exercis...
Black Canyon Director Adrian Hill Lifts Equity Stake Through Option Exercise
Aug 19, 2026
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 pa...
Black Canyon Issues New Shares on Option Exercise Under Cleansing Notice
Aug 19, 2026
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 th...
Black Canyon expands ASX-quoted share base with new BCA securities
Aug 19, 2026
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 ...
Black Canyon Extends High-Grade Manganese Footprint at Wandanya Ahead of Maiden Resource
Aug 11, 2026
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 ha...
Black Canyon Issues New Shares on Option Exercise, Confirms Regulatory Compliance
Aug 10, 2026
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...
Black Canyon Seeks ASX Quotation for 1.43 Million New Shares
Aug 10, 2026
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 ot...
Black Canyon Advances Wandanya Manganese and Iron Project With High-Grade Drilling and Premium-Grade Testwork
Jul 27, 2026
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 met...
Black Canyon’s Wandanya Tests Deliver High-Grade Manganese Concentrates
Jul 21, 2026
Black Canyon has completed Stage 4 pilot scale dense media separation testwork on blended Wandanya drill core, successfully upgrading feed grades of 32.4% and 29.4% manganese to high-grade concentrates of 41.0% and 38.5% manganese at a 2.8 g/cm...
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.