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Blackstone Minerals Ltd (BSX) AI Stock Analysis

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AU:BSX

Blackstone Minerals Ltd

(ASX:BSX)

Select Model
Rating:41Neutral
Price Target:AUD 0.02â–²(4.55% Upside)
Action:upgraded
Date:11/03/26

The overall score of 41 reflects Blackstone Minerals' highly speculative, pre-revenue status. The most significant foundational strength is a pristine, debt-free balance sheet that provides a stable runway for ongoing exploration. However, the score is heavily weighed down by a complete absence of revenue, persistent cash burn, deeply negative valuation metrics, and a solidly bearish technical downtrend.

Positive Factors
Very Low LeverageNegligible debt relative to equity limits refinancing and interest burdens, preserving financial flexibility while projects remain in development. This gives Blackstone more capacity to direct available capital toward exploration and commercialization rather than servicing creditors, although it does not eliminate funding needs.
Negative Factors
Pre-Revenue Business ModelRevenue remains minimal, volatile, and ultimately fell to zero, showing that the company has not yet established recurring commercial sales. Without dependable operating revenue, progress depends on advancing projects to commercialization and securing sufficient capital to fund that transition.

Blackstone Minerals Ltd (BSX) vs. iShares MSCI Australia ETF (EWA)

-60%-40%-20%0%20%40%60%AU:BSX-48.84%EWA+16.10%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
AUD 37.88M
Dividend Yield
―
Average Volume (3M)
1.33M
Price to Earnings (P/E)
-2.6
Beta (1Y)
1.18
Revenue Growth
―
EPS Growth
46.91%
Country
Australia
Employees
8
Sector
Basic Materials
Sector Strength
61
Industry
Other Precious Metals

Blackstone Minerals Ltd Business Overview & Revenue Model

Company Description

Blackstone Minerals Limited focuses on the discovery and advancement of various mineral deposits. The company primarily targets valuable metals such as nickel, cobalt, copper, gold, platinum, and palladium. It fully owns the Gold Bridge project, a 36...

Blackstone Minerals Ltd Financial Statement Overview

Summary

Blackstone Minerals is a pre-revenue exploration company with zero revenue and persistent cash burn. However, these substantial developmental risks are offset by a pristine, unlevered balance sheet with negligible debt and robust asset growth, providing crucial stability.

Income Statement

15Very Negative

Balance Sheet

85Very Positive

Cash Flow

20Very Negative
Financial statement breakdown
BreakdownTTMJun 2026Jun 2025Jun 2024Jun 2023Jun 2022
Income Statement
Total Revenue0031.68K55.53K312.87K35.90K
Gross Profit-54.54K-54.54K-869.34K-1.11M-996.49K-1.12M
EBITDA-12.02M-12.02M-10.09M-20.72M-34.58M-34.84M
Net Income-14.56M-14.56M-9.72M-17.33M-32.15M-31.94M
Balance Sheet
Total Assets118.54M118.54M83.65M19.25M36.72M70.13M
Cash, Cash Equivalents and Short-Term Investments13.74M13.74M582.89K4.16M12.56M40.75M
Total Debt77.21K77.21K241.60K1.12M436.92K699.23K
Total Liabilities1.24M1.24M3.67M2.99M6.33M6.62M
Stockholders Equity87.45M87.45M84.14M20.06M31.52M62.65M
Cash Flow
Free Cash Flow-8.98M-8.98M-5.94M-14.97M-27.98M-36.42M
Operating Cash Flow-8.93M-8.93M-5.94M-13.72M-27.91M-35.82M
Investing Cash Flow-252.37K-252.37K-811.42K-723.88K-249.46K-10.19M
Financing Cash Flow21.96M21.96M3.19M6.20M-294.24K65.03M

Blackstone Minerals Ltd Technical Analysis

Technical Analysis SentimentNegative
Last Price0.02

Price Trends

50DMA0.03Negative
100DMA0.04Negative
200DMA0.04Negative

Market Momentum

MACD-0.00Negative
RSI40.29Neutral
STOCH-21.67Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BSX, the sentiment is Negative. The current price of 0.02 is below the 20-day moving average (MA) of 0.02, below the 50-day MA of 0.03, and below the 200-day MA of 0.04, indicating a bearish trend. The MACD of -0.00 indicates Negative momentum. The RSI at 40.29 is Neutral, neither overbought nor oversold. The STOCH value of -21.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:BSX.

Blackstone Minerals Ltd Peers Comparison

Overall Rating

UnderperformOutperform
Sector (61)

Financial Indicators

AU:BSX against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
Sector *61Neutral$10.43B7.12-0.05%2.87%2.86%-36.73%
AU:AVLAU:AVL57NeutralAUD 68.71M-6.69-7.34%―-100.00%22.03%
AU:E25AU:E2544NeutralAUD 62.20M-24.05-2.99%―-100.00%70.00%
AU:NNLAU:NNL44NeutralAUD 64.84M-13.52-8.65%――1.22%
AU:BSXAU:BSX41NeutralAUD 40.95M-2.56-16.19%――46.91%
AU:HASAU:HAS40UnderperformAUD 52.75M-8.81-5.52%――98.14%
AU:EMHAU:EMH34UnderperformAUD 30.92M-3.37-25.49%――-100.00%

* Basic Materials Sector Average

Performance Comparison

-50%0%50%100%AU:BSXAU:AVLAU:E25AU:HASAU:EMHAU:NNLDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
AU:BSX and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
AU:BSXBlackstone Minerals Ltd0.02-0.02-50.00%
AU:AVLAustralian Vanadium Limited0.18-0.07-28.00%
AU:E25Element 25 Limited0.19-0.10-35.59%
AU:HASHastings Technology Metals Limited0.20-0.36-64.41%
AU:EMHEuropean Metals Holdings Limited0.13-0.08-39.53%
AU:NNLNordic Nickel Limited0.17-0.01-8.33%

Blackstone Minerals Ltd Corporate Events

Blackstone Minerals Shareholders Pass All Annual Meeting Resolutions

Nov 6, 2026

Blackstone Minerals reported that all resolutions at its 6 November 2026 annual general meeting passed on a shareholder poll. Shareholders approved the remuneration report, the elections of Gregory Cunnold and Mark Williams as directors, 10% placemen...

Blackstone Minerals Advances Mankayan PFS While Preserving Cash

Oct 29, 2026

Blackstone Minerals reported steady progress on pre-feasibility study work at its Mankayan Copper-Gold-Silver Project in the Philippines for the quarter ended 30 September 2026. The company finished the period with $12.2 million in cash and about $70...

Blackstone Minerals Moves AGM and Shareholder Communications Online

Oct 5, 2026

Blackstone Minerals will hold its Annual General Meeting on 6 November 2026 in West Perth, offering shareholders the option to attend in person or vote via proxy or online ahead of the meeting. The company is shifting to electronic distribution of me...

Blackstone Minerals Updates ASX Corporate Governance Disclosures

Sep 30, 2026

Blackstone Minerals Limited has lodged its updated corporate governance statement for the financial year ended 30 June 2026, confirming compliance with ASX Listing Rules regarding disclosure of governance practices. The statement, current as of 30 Se...

UBS Group AG Ceases to Be Substantial Holder in Blackstone Minerals

Sep 25, 2026

UBS Group AG and its related bodies corporate have notified Blackstone Minerals Ltd that they have ceased to be a substantial shareholder as of 23 September 2026. The change in UBS’s relevant interest in Blackstone’s voting securities, detailed in re...

Blackstone Sets 2026 AGM Date and Director Nomination Deadline

Sep 18, 2026

Blackstone Minerals has scheduled its next Annual General Meeting for 6 November 2026, aligning with ASX Listing Rule requirements. The company has set a 25 September 2026 deadline, by 5:00 p.m. WST, for shareholders to submit nominations for candida...

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.

Date of analysis: Nov 03, 2026