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Cassius Mining Ltd
(Sydney:CMD)
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Rating:42Neutral
Price Target:
AU$0.02
â–¼(-5.00% Downside)
Action:Reiterated
Date:10/03/26
The score is primarily held down by very weak financials—zero revenue in 2026, widening losses, ongoing cash burn, and a sharp balance-sheet deterioration to debt and negative equity. Technicals are also bearish (below key moving averages, negative MACD), with only an oversold RSI offering limited offset. Valuation is not supportive because the negative P/E reflects continued unprofitability and there is no dividend yield.
Positive Factors
Historical Gross Profit
The company has previously generated positive gross profit, showing that its activities have had some underlying revenue economics before the latest deterioration. If revenue can be restored, this historical gross-profit record may provide a foundation for rebuilding operations, although it does not yet demonstrate sustainable profitability.
Negative Factors
Revenue Collapse
Revenue falling to zero after modest revenue in 2024–2025 demonstrates severe instability in the operating base. Without a dependable revenue stream, fixed costs are harder to absorb, customer or project traction cannot be established, and the company has limited near-term visibility on rebuilding sustainable earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Historical Gross Profit
The company has previously generated positive gross profit, showing that its activities have had some underlying revenue economics before the latest deterioration. If revenue can be restored, this historical gross-profit record may provide a foundation for rebuilding operations, although it does not yet demonstrate sustainable profitability.
Read all positive factors
Cassius Mining Ltd (CMD) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$18.23M
Dividend YieldN/A
Average Volume (3M)332.89K
Price to Earnings (P/E)―
Beta (1Y)1.20
Revenue GrowthN/A
EPS Growth-86.54%
CountryAU
Employees2
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding911,717,900
10 Day Avg. Volume211,852
30 Day Avg. Volume332,890
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)-7.33
Price to Sales (P/S)0.00
P/FCF Ratio-4.90
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
Cassius Mining Ltd Business Overview & Revenue Model
Company Description
Established in 2005 and headquartered in Sydney, Australia, Cassius Mining Limited focuses on discovering and extracting mineral resources across both Australia and the African continent. The company organizes its business into two primary divisio...
How the Company Makes Money
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Cassius Mining Ltd Financial Statement Overview
Summary
Income Statement
9
Very Negative
Balance Sheet
12
Very Negative
Cash Flow
10
Very Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 103.02K | 10.11K | 2.62K | 11.00 |
| Gross Profit | 0.00 | 103.02K | 10.11K | 2.62K | 11.00 |
| EBITDA | -1.40M | 0.00 | -1.51M | -783.66K | -361.88K |
| Net Income | -7.26M | -2.96M | -1.51M | -784.00K | -362.00K |
Balance Sheet | |||||
| Total Assets | 4.40M | 1.86M | 3.01M | 3.48M | 1.52M |
| Cash, Cash Equivalents and Short-Term Investments | 2.66M | 243.82K | 608.86K | 1.45M | 94.81K |
| Total Debt | 4.13M | 0.00 | 0.00 | 0.00 | 408.00K |
| Total Liabilities | 7.33M | 412.43K | 104.98K | 418.58K | 596.62K |
| Stockholders Equity | -2.93M | 1.45M | 2.90M | 3.06M | 927.46K |
Cash Flow | |||||
| Free Cash Flow | -4.37M | -1.87M | -2.17M | -1.15M | -809.07K |
| Operating Cash Flow | -4.37M | -1.81M | -1.02M | -88.77K | -303.98K |
| Investing Cash Flow | -113.05K | -66.48K | -1.16M | -1.06M | -505.09K |
| Financing Cash Flow | 6.90M | 1.51M | 1.33M | 2.50M | 669.20K |
Cassius Mining Ltd Technical Analysis
Negative
0.02
Price Trends
0.02
Negative
0.03
Negative
0.03
Negative
Market Momentum
>-0.01
Negative
29.26
Positive
100.00
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CMD, the sentiment is Negative. The current price of 0.02 is above the 20-day moving average (MA) of 0.02, below the 50-day MA of 0.02, and below the 200-day MA of 0.03, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 29.26 is Positive, neither overbought nor oversold. The STOCH value of 100.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:CMD.
Cassius Mining 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% | |
50 Neutral | AU$26.01M | -12.50 | -10.76% | ― | ― | 41.38% | |
46 Neutral | AU$27.91M | -8.66 | -15.35% | ― | ― | -20.31% | |
45 Neutral | AU$20.59M | -80.00 | -4.36% | ― | ― | 94.12% | |
45 Neutral | AU$19.11M | -10.21 | -6.36% | ― | ― | 96.72% | |
42 Neutral | AU$18.23M | -2.06 | 1716.62% | ― | ― | -86.54% | |
39 Underperform | AU$14.64M | -0.91 | -81.11% | 23.69% | ― | 59.04% |
* Basic Materials Sector Average
AU:CMD
Cassius Mining Ltd
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Cassius Mining Ltd Corporate Events
Cassius Mining Issues New Shares Under Section 708A Regime
Sep 30, 2026
Cassius Mining Limited has issued 9,856,468 ordinary fully paid shares without a disclosure document, relying on provisions under Section 708 of the Corporations Act as modified by an ASIC instrument. The placement expands the company’s shar...
Cassius Mining Converts Note Interest Into New Equity on ASX
Sep 30, 2026
Cassius Mining Ltd has applied to the ASX for quotation of 81,651 new ordinary fully paid CMD shares following the conversion of accrued interest on existing convertible notes. The move modestly increases the company’s share capital and refl...
Cassius Mining Seeks ASX Quotation for Nearly 9.8 Million New Shares
Sep 30, 2026
Cassius Mining Ltd is an Australia-listed resources company engaged in mineral exploration and development, with ordinary fully paid shares traded on the ASX under the ticker CMD. Operating in the mining sector, the company relies on equity market...
Cassius Mining Publishes 2026 Annual Report and Corporate Disclosures
Sep 30, 2026
Cassius Mining Limited has released its 2026 annual report, detailing the activities and project review for the year alongside a comprehensive set of corporate disclosures. The report outlines its governance structure, financial statements, audit ...
Cassius Mining Lodges Final Submissions in High-Stakes Ghana Arbitration
Sep 29, 2026
Cassius Mining Ltd has filed its final post-hearing submissions in an international arbitration against the Government of Ghana, a dispute centered on its wholly owned Ghanaian subsidiary and gold interests in the country. The in-person hearing co...
Cassius Mining Issues Over 13 Million New Shares Under Disclosure Exemption
Sep 28, 2026
Cassius Mining Limited has issued 13,276,851 ordinary fully paid shares without a disclosure document under the small-scale or exempt offering provisions of the Corporations Act 2001. The company stated it remains compliant with its continuous dis...
Cassius Mining Converts Note Interest Into Equity With New Share Quotation
Sep 28, 2026
Cassius Mining Limited has applied to the ASX for quotation of 245,095 new ordinary fully paid shares, issued following the conversion of accrued interest on existing convertible notes. The move modestly increases the company’s share capital...
Cassius Mining Seeks ASX Quotation for 13 Million New Shares
Sep 28, 2026
Cassius Mining Ltd has applied to the ASX for quotation of 13,031,756 additional ordinary fully paid shares under the code CMD, with an issue date of September 28, 2026. The new securities, arising from the exercise or conversion of existing instr...
Cassius Mining Issues New Shares Under Disclosure Exemption
Sep 22, 2026
Cassius Mining Limited has issued 13,906,825 ordinary fully paid shares without a disclosure document under Section 708 of the Corporations Act, relying on provisions that allow such placement to sophisticated or exempt investors. The company conf...
Cassius Mining Converts Convertible Note Interest Into New ASX-Quoted Shares
Sep 22, 2026
Cassius Mining has applied to the ASX for the quotation of 388,374 new ordinary fully paid shares. These shares result from the conversion of secured interest on a convertible note into equity, slightly expanding the company’s issued capital...
Cassius Mining Seeks ASX Quotation for 13.5 Million New Shares
Sep 22, 2026
Cassius Mining Ltd has applied to the ASX for quotation of 13,518,451 new ordinary fully paid CMD shares following the exercise or conversion of existing options or other convertible securities. The new securities, issued on 21 September 2026, wil...
Cassius Mining Seeks ASX Quotation for Nearly 6.9 Million New Shares
Sep 10, 2026
Cassius Mining Ltd, an Australian resources company listed on the ASX under ticker CMD, focuses on mineral exploration and development projects. Its ordinary fully paid shares provide investors access to potential upside from advancing mining asse...
Cassius Mining Issues New Shares Under Section 708A Compliance Notice
Sep 8, 2026
Cassius Mining Ltd has issued 7,697,167 ordinary fully paid shares without a disclosure document, relying on provisions of the Corporations Act that permit such placements to sophisticated or exempt investors. The company states it remains complia...
Cassius Mining Converts Convertible Note Interest Into New ASX-Quoted Shares
Sep 8, 2026
Cassius Mining Ltd has applied to the ASX for quotation of 58,277 new ordinary fully paid shares under ticker CMD. These shares result from the conversion of accrued interest on a previously issued convertible note, which has now been converted in...
Cassius Mining Seeks ASX Quotation for Additional CMD Shares
Sep 8, 2026
Cassius Mining Ltd has applied to the ASX for quotation of 7,638,890 new ordinary fully paid CMD shares. The securities are being listed following the exercise or conversion of existing options or other convertible instruments, modestly increasing...
Cassius Mining Issues New Shares Under Corporations Act Exemption
Aug 31, 2026
Cassius Mining Ltd has issued 3,324,191 ordinary fully paid shares without a disclosure document under the exemption provisions of Section 708 of the Corporations Act. The company has confirmed it remains compliant with key reporting and continuou...
Cassius Mining Converts Note Interest Into New ASX-Quoted Shares
Aug 31, 2026
Cassius Mining Ltd has applied to the ASX for quotation of 32,824 new ordinary fully paid shares, issued following the conversion of accrued interest on a convertible note. The move modestly increases the company’s equity base and reflects t...
Cassius Mining Issues Over 103 Million New Shares Under Regulatory Exemption
Aug 19, 2026
Cassius Mining Ltd has issued 103,781,500 ordinary fully paid shares without a disclosure document under Section 708 of the Corporations Act 2001, relying on the exemption provisions of Section 708A(5) as modified by ASIC Instrument 23-0487. The c...
Cassius Mining Seeks ASX Quotation for Over 103 Million New Shares
Aug 19, 2026
Cassius Mining Ltd has applied for quotation of 103,781,500 ordinary fully paid shares on the ASX, formalising the listing of this new batch of CMD securities. The application signals an expansion of the company’s tradable equity base, which...
Cassius Mining Director Converts Expired Notes to Unsecured Loan
Aug 14, 2026
Cassius Mining Ltd has disclosed a change in director David Chidlow’s interests, noting that his previously held convertible notes have expired without conversion. As a result, the 20 convertible notes, each with a face value of $10,000, hav...
Cassius Mining Adjusts Capital Structure as Convertible Notes Cease
Aug 14, 2026
Cassius Mining Ltd, an Australian-listed mining and exploration company trading on the ASX as CMD, operates within the resources sector, managing a portfolio of mineral-related assets. As a public issuer, Cassius uses a range of securities, such a...
Cassius Mining Plans Major Share and Option Issue on ASX
Aug 12, 2026
Cassius Mining Ltd is an Australia-listed resources company operating in the mining sector. The firm is focused on mineral exploration and development, with its ordinary shares and options traded on the ASX under the ticker CMD, positioning it as ...
Cassius Mining Raises $2.025m to Drive Madagascar Project and Ghana Arbitration
Aug 12, 2026
Cassius Mining Limited has raised $2.025 million through an unbrokered share placement to professional and sophisticated investors at $0.02 per share, a discount to its recent trading levels, with new shareholders also to receive free attaching li...
Cassius Mining Shares Halted Ahead of Material Capital Raising
Aug 10, 2026
Cassius Mining Ltd has requested and received a trading halt from the ASX, with its securities suspended pending the release of an announcement. The halt is expected to last until either the start of normal trading on Wednesday, 12 August 2026, or...
Cassius Advances Planning and JV Talks for Madagascar Limestone Project
Jul 31, 2026
Cassius Mining has used the June quarter to advance development planning for its Soalara Limestone Project in Madagascar, while continuing discussions with existing and new potential joint venture partners. The company is assessing mining and proc...
Cassius Mining Advances Ghana Arbitration Toward Final Decision
Jul 14, 2026
Cassius Mining Ltd has provided an update on its international arbitration case against the Government of Ghana, following an in-person hearing held at the Peace Palace in The Hague from 15 to 19 June 2026. The closed-door proceedings mark a signi...
Cassius Mining Issues New Shares Under Section 708A Framework
Jul 6, 2026
Cassius Mining Limited has issued 1,710,715 ordinary fully paid shares without a disclosure document, relying on provisions of the Corporations Act that allow certain capital raisings under Section 708A. The company confirmed it remains compliant ...
Cassius Mining Converts Note Interest Into New ASX-Quoted Shares
Jul 6, 2026
Cassius Mining Ltd, an ASX-listed mineral exploration company, issues ordinary fully paid shares under the CMD ticker, giving investors access to the mining sector through equity in its resource-focused operations.The company has applied for quota...
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.