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Iceni Gold Ltd.
(Sydney:ICL)
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Rating:44Neutral
Price Target:
AU$0.02
â–¼(-73.33% Downside)
Action:Reiterated
Date:09/25/26
The score is driven primarily by weak financial performance (no consistent revenue, widening losses, and ongoing cash burn), only partly mitigated by a clean, ungeared balance sheet. Technicals add additional pressure with a clear downtrend (price below major moving averages and negative MACD). Valuation provides limited support because negative earnings make P/E less informative and no dividend yield is available.
Positive Factors
Ungeared balance sheet
The absence of debt reduces interest obligations and refinancing exposure, giving Iceni greater flexibility to direct capital toward exploration. A clean balance sheet can also support project funding, farm-out negotiations, or other strategic options as mineral prospects are evaluated.
Negative Factors
No commercial revenue stability
The absence of consistent operating revenue means Iceni has not yet demonstrated a self-sustaining commercial business model. Revenue volatility leaves future funding dependent on asset transactions, partnerships, capital raising, or eventual development success rather than recurring sales.
Read all positive and negative factors
Positive Factors
Negative Factors
Ungeared balance sheet
The absence of debt reduces interest obligations and refinancing exposure, giving Iceni greater flexibility to direct capital toward exploration. A clean balance sheet can also support project funding, farm-out negotiations, or other strategic options as mineral prospects are evaluated.
Read all positive factors
Iceni Gold Ltd. (ICL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$7.49M
Dividend YieldN/A
Average Volume (3M)246.06K
Price to Earnings (P/E)―
Beta (1Y)1.67
Revenue GrowthN/A
EPS Growth-118.69%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.02
Shares Outstanding440,651,640
10 Day Avg. Volume237,983
30 Day Avg. Volume246,064
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)0.37
Price to Sales (P/S)0.00
P/FCF Ratio-18.06
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
Iceni Gold Ltd. Business Overview & Revenue Model
Company Description
Iceni Gold Limited specializes in the acquisition, exploration, and development of gold projects. Its primary asset is the extensive 14 Mile Well project, encompassing a vast 850-square-kilometer tenement package. This project comprises seven dist...
How the Company Makes Money
Iceni Gold Ltd does not have publicly available information indicating recurring operating revenue from product sales or services. As an exploration-stage mining company, its typical pathway to monetization is to (1) increase the value of its expl...
Iceni Gold Ltd. Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
62
Positive
Cash Flow
28
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 291.24K | 142.20K | 0.00 | 0.00 |
| Gross Profit | -290.00 | 291.24K | 142.20K | -17.12K | -4.54K |
| EBITDA | -1.53M | -3.59M | -952.35K | -1.22M | -1.23M |
| Net Income | -8.37M | -3.49M | -230.02K | -1.30M | -1.32M |
Balance Sheet | |||||
| Total Assets | 23.81M | 30.85M | 28.32M | 24.96M | 27.33M |
| Cash, Cash Equivalents and Short-Term Investments | 317.23K | 4.35M | 3.45M | 1.16M | 7.95M |
| Total Debt | 0.00 | 0.00 | 247.12K | 823.36K | 1.51M |
| Total Liabilities | 574.27K | 1.29M | 858.45K | 1.34M | 2.41M |
| Stockholders Equity | 23.23M | 29.56M | 27.46M | 23.62M | 24.92M |
Cash Flow | |||||
| Free Cash Flow | -474.12K | -7.79M | -3.11M | -6.03M | -12.68M |
| Operating Cash Flow | -445.32K | -1.38M | -502.23K | -1.14M | -1.30M |
| Investing Cash Flow | -5.01M | -2.82M | -458.96K | -4.97M | -11.38M |
| Financing Cash Flow | 1.55M | 5.10M | 3.25M | -684.86K | 3.11M |
Iceni Gold Ltd. Technical Analysis
Negative
0.06
Price Trends
0.02
Negative
0.02
Negative
0.03
Negative
Market Momentum
>-0.01
Positive
45.48
Neutral
42.86
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:ICL, the sentiment is Negative. The current price of 0.06 is above the 20-day moving average (MA) of 0.02, above the 50-day MA of 0.02, and above the 200-day MA of 0.03, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 45.48 is Neutral, neither overbought nor oversold. The STOCH value of 42.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:ICL.
Iceni Gold 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% | |
51 Neutral | AU$20.23M | -9.44 | -10.90% | ― | -2.10% | 21.74% | |
46 Neutral | AU$8.22M | -14.74 | -3.57% | ― | ― | -132.20% | |
45 Neutral | AU$11.27M | -5.38 | -9.75% | ― | ― | 32.76% | |
44 Neutral | AU$7.49M | -0.73 | -31.65% | ― | ― | -118.69% | |
44 Neutral | AU$14.82M | -4.13 | -55.21% | ― | -100.00% | -8.36% | |
40 Underperform | AU$7.91M | -1.73 | -201.09% | ― | ― | 41.73% |
* Basic Materials Sector Average
AU:ICL
Iceni Gold Ltd.
0.02
-0.05
-75.71%
AU:BNR
Bulletin Resources Limited
0.03
-0.03
-50.00%
AU:NAG
Nagambie Resources Limited
0.02
0.00
0.00%
AU:KAL
Kalgoorlie Gold Mining Limited
0.02
-0.03
-61.82%
AU:FG1
Flynn Gold Ltd.
0.01
>-0.01
-39.13%
AU:PGD
Peregrine Gold Ltd.
0.15
-0.15
-50.00%
Iceni Gold Ltd. Corporate Events
Iceni Gold Sets November AGM and Pushes Electronic Engagement with Shareholders
Oct 6, 2026
Iceni Gold Limited has scheduled its Annual General Meeting of shareholders for 10 November 2026 in West Perth, Western Australia, and has released the associated notice of meeting, letter to shareholders and a sample proxy form. The company is sh...
Iceni Gold Tightens Focus on Gander Fault After New Goose Well Results
Sep 28, 2026
Iceni Gold has reported multi-element geochemical results from diamond drillhole FMDD0058 at the Goose Well target within its 14 Mile Well Gold Project, reinforcing the emerging geological model around the Gander Fault. The drilling intersected a ...
Iceni Gold Files ASX Governance Appendix, Confirms Board-Approved Framework
Sep 21, 2026
Iceni Gold Ltd., an ASX-listed gold company, has detailed its corporate governance framework in line with ASX Listing Rules and Corporate Governance Council recommendations. The company highlights a board-centric governance structure, written appo...
Iceni Gold Confirms Regulatory Compliance for New Share Issue
Sep 3, 2026
Iceni Gold Ltd. has lodged an Appendix 2A with the ASX for the quotation of new fully paid ordinary shares, and has issued these shares without a prospectus under the disclosure exemptions in the Corporations Act. The company confirms it is in ful...
Iceni Gold Issues Shares for Services and Seeks ASX Quotation
Sep 3, 2026
Iceni Gold Limited has applied to the ASX for quotation of 4,744,405 new ordinary fully paid shares, issued on 3 September 2026. These shares were issued in lieu of cash as consideration for services, indicating the company is using equity to sett...
Iceni Gold Defines Broad New Gold Zone and Refines Strategy at Goose Well
Aug 31, 2026
Iceni Gold has reported a new broad zone of gold mineralisation at its priority Goose Well target within the 14 Mile Well Gold Project, intersected in maiden diamond drillhole FMDD0058 along the Gander Fault. The hole returned a sizeable low-grade...
Iceni Gold and Gold Fields Launch Major Drilling at Everleigh Project
Aug 27, 2026
Iceni Gold Ltd. has outlined its role as initial manager in a newly commenced farm-in with Gold Fields over the Everleigh project, part of its 14 Mile Well Gold Project in Western Australia. The arrangement allows Iceni to push ahead at Everleigh ...
Iceni Gold Issues 16.1 Million Unquoted Options to Support Future Growth
Aug 12, 2026
Iceni Gold Ltd. has notified the market of the issue of 16,125,000 unquoted options, each exercisable at $0.04 and expiring on August 12, 2028. The options, forming part of previously flagged transactions, are not intended to be quoted on the ASX,...
Iceni Gold Confirms Compliance on New ASX Share Quotation
Aug 12, 2026
Iceni Gold Ltd. has lodged an Appendix 2A with the ASX for the quotation of newly issued fully paid ordinary shares and has notified investors that these shares were issued without a disclosure document under the relevant fundraising provisions of...
Iceni Gold Seeks ASX Quotation for 32.25 Million New Shares
Aug 12, 2026
Iceni Gold Ltd. has applied to the ASX for quotation of 32,250,000 new ordinary fully paid shares under its existing ticker ICL. The securities were issued as part of previously announced transactions, and their quotation will expand the company&#...
Iceni Gold Plans Share and Option Issue to Bolster Exploration Funding
Aug 3, 2026
Iceni Gold Ltd has outlined plans for a new capital raising via a proposed placement or similar issue, involving up to 35 million ordinary fully paid shares and 21,875,000 unquoted options exercisable at $0.04 each, expiring two years from issue. ...
Iceni Gold expands 14 Mile Well footprint and secures Gold Fields farm-in
Jul 31, 2026
Iceni Gold advanced its exploration at the 14 Mile Well Gold Project during the June quarter, expanding the Guyer West gold geochemical footprint to 1.6km of strike through a 33-hole aircore program and identifying a priority target corridor towar...
Iceni Gold Requests ASX Trading Halt Ahead of Capital Raising
Jul 31, 2026
Iceni Gold Ltd., an ASX-listed gold exploration company, has requested a trading halt in its securities while it considers, plans and executes a capital raising. The halt is expected to remain in place until the earlier of the release of the capit...
Iceni Gold Director Brian Rodan Increases Shareholding via On-Market Purchase
Jul 24, 2026
Iceni Gold Limited has reported a change in the holdings of director Brian Rodan, who increased his relevant interest in the company through an on-market purchase. Rodan acquired 641,393 fully paid ordinary shares for approximately $16,320.89, rai...
Iceni Gold Drops Laverton Tenement Deal, Refocuses on Core Projects
Jul 15, 2026
Iceni Gold Limited has terminated its conditional agreement to acquire the Laverton South tenement package after key conditions, including due diligence, tenement grants and required approvals, could not be satisfied or waived within the agreed 12...
Iceni Gold Confirms Gander Fault at Goose Well, Advancing 14 Mile Well Geological Model
Jul 13, 2026
Iceni Gold has completed a 362m diamond drill hole at the Goose Well target within its 14 Mile Well Gold Project in Western Australia, confirming the presence of the Gander Fault and advancing its structural model for gold mineralisation. The hole...
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.