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eMetals Limited
(Sydney:EMT)
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Rating:47Neutral
Price Target:
AU$0.04
▼(-18.00% Downside)
Action:Reiterated
Date:09/30/26
The score is primarily held back by weak financial performance—unstable revenue, continued operating losses, and ongoing cash burn—despite the benefit of having no debt. Technical indicators also lean soft (negative MACD and below the 50-day average), while valuation is not supportive due to negative earnings and no dividend.
Positive Factors
Debt-free balance sheet
A debt-free balance sheet reduces financial leverage, interest obligations, and insolvency exposure. This gives eMetals greater flexibility to manage ongoing losses and pursue funding or operating changes without the added pressure of mandatory debt servicing.
Negative Factors
Unstable and shrinking revenue
An inconsistent top line and effectively zero annual revenue show that eMetals has not yet demonstrated repeatable commercial traction. This weak revenue foundation makes future results highly uncertain and limits the company’s ability to build durable operating leverage.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
A debt-free balance sheet reduces financial leverage, interest obligations, and insolvency exposure. This gives eMetals greater flexibility to manage ongoing losses and pursue funding or operating changes without the added pressure of mandatory debt servicing.
Read all positive factors
eMetals Limited (EMT) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$4.10M
Dividend YieldN/A
Average Volume (3M)82.52K
Price to Earnings (P/E)―
Beta (1Y)1.70
Revenue GrowthN/A
EPS Growth3.80%
CountryAU
Employees2
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.12
Shares Outstanding97,500,114
10 Day Avg. Volume85,078
30 Day Avg. Volume82,518
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)1.21
Price to Sales (P/S)0.00
P/FCF Ratio-5.06
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
eMetals Limited Business Overview & Revenue Model
Company Description
eMetals Limited is an Australian mineral exploration company, headquartered in Subiaco and incorporated in 2010. Formerly known as Corizon Limited until its name change in January 2020, the company actively seeks a variety of minerals across Austr...
How the Company Makes Money
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eMetals Limited Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
64
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | -362.00 | 0.00 | 98.56K | 0.00 | 0.00 | 0.00 |
| Gross Profit | -362.00 | 0.00 | 98.56K | 0.00 | 0.00 | 0.00 |
| EBITDA | -1.02M | -960.95K | -525.94K | -561.18K | 101.53K | -1.27M |
| Net Income | -1.05M | -1.31M | -1.34M | -5.71M | 3.77M | -1.93M |
Balance Sheet | ||||||
| Total Assets | 3.98M | 5.02M | 3.97M | 5.27M | 10.98M | 7.08M |
| Cash, Cash Equivalents and Short-Term Investments | 3.37M | 1.79M | 2.77M | 4.57M | 9.69M | 4.80M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 133.07K | 1.45M | 87.05K | 43.34K | 90.22K | 34.29K |
| Stockholders Equity | 3.85M | 3.57M | 3.89M | 5.23M | 10.89M | 10.89M |
Cash Flow | ||||||
| Free Cash Flow | -309.26K | -856.62K | -993.97K | -539.85K | -835.53K | -835.53K |
| Operating Cash Flow | -309.26K | -856.62K | -519.64K | -487.73K | -572.43K | -572.43K |
| Investing Cash Flow | -26.89K | -115.62K | -339.33K | -52.13K | 221.07K | 221.07K |
| Financing Cash Flow | 0.00 | -7.26K | 0.00 | 0.00 | 0.00 | 4.72M |
eMetals Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | AU$16.28M | -29.76 | -6.76% | ― | ― | 95.60% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
57 Neutral | AU$10.69M | -12.40 | -5.68% | ― | -100.00% | 2.60% | |
47 Neutral | AU$4.10M | -2.99 | -35.33% | ― | ― | 3.80% | |
47 Neutral | AU$5.17M | -1.97 | -8.75% | ― | ― | -132.95% | |
42 Neutral | AU$5.29M | -3.59 | -10.97% | ― | ― | 55.68% | |
41 Neutral | AU$6.28M | -0.34 | -94.75% | ― | ― | -15.66% |
* Basic Materials Sector Average
AU:EMT
eMetals Limited
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eMetals Limited Corporate Events
eMetals Lodges Appendix 4G and Updates Corporate Governance Statement
Sep 29, 2026
eMetals Limited has lodged its Appendix 4G with the ASX for the year ended 30 June 2026, confirming that its latest corporate governance statement is available on its website and current as of 29 September 2026. The filing indicates the company ha...
eMetals Updates Governance Framework in Line with ASX Principles
Sep 29, 2026
eMetals Limited has released its updated Corporate Governance Statement as at 29 September 2026, outlining how it applies the ASX Corporate Governance Council’s fourth edition principles. The statement confirms the adoption of a detailed Boa...
eMetals Limited Confirms Governance Structure in 2026 Annual Report
Sep 29, 2026
eMetals Limited is an Australian-listed company whose shares trade on the Australian Securities Exchange under the code EMT. The company is based in West Perth, Western Australia, and operates from its principal place of business on Ord Street, wi...
eMetals prepares maiden drilling campaign at Utah tungsten project
Sep 10, 2026
eMetals Limited has completed earthworks and logistical preparations for its maiden drilling campaign at the Mineral Range Tungsten Project in Utah, targeting high-grade tungsten mineralisation across its extensive claim package. The planned progr...
eMetals boosts Mineral Range tungsten grades with revised assay method
Aug 31, 2026
eMetals has reported new assay results from eight underground grab samples at the historic Garnet Mine within its Mineral Range Tungsten Project in Utah, after re-testing using a lithium-borate fusion XRF method. The re-assays show markedly higher...
eMetals Tightens Executive Director Terms Ahead of Key Tungsten Push
Aug 28, 2026
eMetals Limited has revised the remuneration arrangements for Executive Director Mathew Walker, effective 1 September 2026, in a move that clarifies his ongoing terms with the company. Under the updated package, Walker will receive $12,000 per mon...
eMetals Expands Mineral Range Tungsten Tenure in Utah Ahead of Drilling
Aug 17, 2026
eMetals Limited has expanded its Mineral Range Tungsten Project in Utah by securing 36 additional mineral claims, adding 718 acres of tenure north of the historic Garnet mine. The new claims cover garnet-rich skarn zones, regarded as the most prod...
eMetals Secures Approvals and Readies 17-Hole Drilling at Utah Tungsten Project
Aug 5, 2026
eMetals Limited has secured all regulatory approvals for a 17-hole HQ diamond core drilling program at its Mineral Range Tungsten Project in Utah, targeting high-grade tungsten mineralisation within metasomatized carbonate-skarn beds adjacent to t...
eMetals Broadens U.S. Tungsten Footprint at Mineral Range Project
Jul 23, 2026
eMetals Limited has consolidated its position in the U.S. tungsten sector by securing full ownership of the Mineral Range Tungsten Project in Beaver County, Utah, and the granting of all 84 pending mineral claim applications. The expanded holding ...
eMetals Director Holdings Adjusted After 10-for-1 Share Consolidation
Jul 15, 2026
eMetals Limited has reported a change in director Teck Siong Wong’s interests following a consolidation of the company’s capital on a 10-for-1 basis. The consolidation, approved by shareholders at a general meeting on 26 June 2026, red...
eMetals Updates Director’s Shareholding After 10-for-1 Consolidation
Jul 15, 2026
eMetals Limited has reported a change in director Gary Lyons’ relevant interest in the company’s securities. The notice relates to an indirect holding through the Lyons Super Fund account, reflecting updated share numbers following a c...
eMetals Discloses Director Interest Change After 10-for-1 Share Consolidation
Jul 15, 2026
eMetals Limited has reported a change in director Mathew Walker’s relevant interest in the company’s securities, following a shareholder-approved consolidation of capital. Walker’s indirect holding, via Twentieth Century Motor Co...
eMetals Reports High-Grade Tungsten Results at Utah’s Mineral Range Project
Jul 9, 2026
eMetals has reported encouraging exploration results from fieldwork at its Mineral Range Tungsten Project in Utah, where it is targeting garnet-rich skarn zones near the historic Garnet and Contact mines. Recent underground sampling at the Garnet ...
eMetals Finalises Share Consolidation as It Advances Tungsten and Gold Projects
Jul 7, 2026
eMetals Limited, an ASX-listed mining exploration company, focuses on precious and critical metals through its tungsten project in Utah and gold projects in Uganda. Its portfolio is centered on high-grade tungsten mineralisation in the Mineral Ran...
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.