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Carbine Resources Limited
(Sydney:CRB)
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Rating:45Neutral
Price Target:
$0.01
▲(150.00% Upside)
Action:Reiterated
Date:08/04/26
The score is primarily constrained by weak financial performance, driven by zero revenue in 2025, sustained losses, and ongoing negative free cash flow. A debt-free balance sheet provides some support, but valuation is difficult to interpret with negative earnings and no dividend yield data, and technical signals are unavailable.
Positive Factors
Debt-free balance sheet
A debt-free capital structure materially reduces fixed financing costs and lowers insolvency risk, giving management durable optionality to pursue farm-outs, tenement sales, or funding rounds without immediate interest burdens. This structural strength supports long-term flexibility amid exploration volatility.
Negative Factors
Zero revenue in 2025
The absence of revenue in the most recent year highlights a weak commercial base and delays in monetisation pathways. For an explorer, prolonged revenue gaps make sustained operations dependent on capital raises or asset disposals, raising execution risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
A debt-free capital structure materially reduces fixed financing costs and lowers insolvency risk, giving management durable optionality to pursue farm-outs, tenement sales, or funding rounds without immediate interest burdens. This structural strength supports long-term flexibility amid exploration volatility.
Read all positive factors
Carbine Resources Limited (CRB) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$8.34M
Dividend YieldN/A
Average Volume (3M)249.64K
Price to Earnings (P/E)―
Beta (1Y)1.46
Revenue GrowthN/A
EPS Growth47.06%
CountryAU
Employees5
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding1,191,865,700
10 Day Avg. Volume170,818
30 Day Avg. Volume249,644
Financial Highlights & Ratios
PEG Ratio0.12
Price to Book (P/B)0.43
Price to Sales (P/S)0.00
P/FCF Ratio-5.89
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
Carbine Resources Limited Business Overview & Revenue Model
Company Description
Carbine Resources Limited is an Australian entity that focuses on the prospecting, appraisal, and subsequent development of various mineral properties within the country. The company notably holds complete ownership of the Muchea West silica sand ...
How the Company Makes Money
Carbine Resources Limited’s ability to generate revenue is primarily tied to the minerals exploration and development lifecycle. Typical monetisation pathways for a company at this stage include: (1) farm-out or joint venture arrangements where an...
Carbine Resources Limited Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
28
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 31.66K | 59.46K | 26.34K | 11.67K |
| Gross Profit | 0.00 | -1.45K | 59.46K | 23.23K | 7.73K |
| EBITDA | -751.58K | -925.16K | -1.29M | -1.48M | -1.77M |
| Net Income | -735.76K | -926.62K | -1.29M | -1.49M | -1.77M |
Balance Sheet | |||||
| Total Assets | 9.97M | 8.95M | 9.77M | 9.83M | 11.61M |
| Cash, Cash Equivalents and Short-Term Investments | 1.47M | 451.47K | 1.27M | 2.34M | 3.65M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 55.75K | 56.87K | 47.43K | 106.01K | 388.87K |
| Stockholders Equity | 9.91M | 8.90M | 9.72M | 9.73M | 11.22M |
Cash Flow | |||||
| Free Cash Flow | -729.50K | -816.48K | -1.08M | -1.01M | -2.41M |
| Operating Cash Flow | -729.50K | -816.48K | -1.08M | -1.01M | -1.91M |
| Investing Cash Flow | 0.00 | 0.00 | 0.00 | -299.23K | 1.17M |
| Financing Cash Flow | 1.75M | 0.00 | 0.00 | -1.28K | 2.80M |
Carbine Resources 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% | |
47 Neutral | AU$14.17M | -1.81 | -167.03% | ― | ― | 2.65% | |
46 Neutral | AU$5.30M | -3.33 | -55.63% | ― | ― | -85.71% | |
45 Neutral | AU$8.34M | -7.78 | -7.46% | ― | ― | 47.06% | |
45 Neutral | AU$8.36M | -2.32 | -16.54% | ― | ― | -25.45% | |
44 Neutral | AU$4.14M | -2.50 | -41.79% | ― | ― | -30.00% | |
41 Neutral | AU$7.23M | -10.00 | -49.11% | 100.00% | ― | 33.33% |
* Basic Materials Sector Average
AU:CRB
Carbine Resources Limited
0.01
0.00
0.00%
AU:COY
Coppermoly Limited
0.01
>-0.01
-28.57%
AU:MTL
Caeneus Minerals Limited
―
―
―
AU:RCR
Rincon Resources Ltd.
0.02
>-0.01
-15.79%
AU:CDT
Castle Minerals Limited
0.08
<0.01
6.67%
AU:RNX
Renegade Exploration Limited
―
―
―
Carbine Resources Limited Corporate Events
Carbine Resources Advances Approvals and Drilling Plans at WA Silica Sand Projects
Jul 30, 2026
Carbine Resources advanced approvals and access arrangements across its silica sand portfolio during the June quarter, with heritage clearance obtained and land access agreements secured over more than 20 properties at the Down South Silica Sand P...
Carbine Resources Streamlines Capital Structure as Options and Rights Expire
Jul 15, 2026
Carbine Resources Limited has announced the expiry of two series of listed options and the lapse of a large tranche of performance rights, resulting in a material reduction in its pool of outstanding convertible and contingent securities. The opti...
Carbine Resources Wins Strong Shareholder Backing at AGM
May 29, 2026
Carbine Resources Limited reported the results of its Annual General Meeting held on 29 May 2026, confirming that all resolutions put to shareholders were passed by poll. The approved items included the adoption of the remuneration report, the re-...
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.