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Indiana Resources Limited
(Sydney:IDA)
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Rating:48Neutral
Price Target:
AU$0.02
▼(-5.00% Downside)
Action:Reiterated
Date:10/01/26
The score is held down primarily by unstable financial performance (FY2026 reverted to zero revenue and losses after a FY2025 spike) and consistently negative operating/free cash flow, which raises sustainability and funding-risk concerns. Technicals also remain weak with the price below key moving averages and negative MACD. A very low P/E provides some valuation support, but it is tempered by the lack of durable earnings and cash generation.
Positive Factors
Strong equity base
The substantial equity base provides a financial cushion relative to the company’s asset position and may support continued exploration activity. This balance-sheet strength can improve resilience and preserve strategic flexibility while projects are advanced or potential transactions are pursued.
Negative Factors
Revenue volatility
The sharp reversal from substantial revenue and profit to zero revenue and a loss shows that current earnings power is not stable. Such volatility makes results difficult to forecast, reduces confidence in recurring operating performance, and increases dependence on occasional project or transaction outcomes.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong equity base
The substantial equity base provides a financial cushion relative to the company’s asset position and may support continued exploration activity. This balance-sheet strength can improve resilience and preserve strategic flexibility while projects are advanced or potential transactions are pursued.
Read all positive factors
Indiana Resources Limited (IDA) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$12.24M
Dividend Yield277.78%
Average Volume (3M)541.13K
Price to Earnings (P/E)―
Beta (1Y)0.82
Revenue Growth-100.00%
EPS Growth-103.88%
CountryAU
Employees16
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding644,232,500
10 Day Avg. Volume383,046
30 Day Avg. Volume541,131
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)0.39
Price to Sales (P/S)0.00
P/FCF Ratio-4.12
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
Indiana Resources Limited Business Overview & Revenue Model
Company Description
Based in Wembley, Australia, Indiana Resources Limited is an Australian gold exploration firm. The company's primary asset is the Gawler Craton gold project, a vast 5,713 square kilometer tenement situated in South Australia. Established in 1985, ...
How the Company Makes Money
IDA’s business model is primarily that of a mineral explorer/developer. It typically seeks to create shareholder value by acquiring and advancing exploration assets and, where successful, monetising them through one or more pathways: (1) asset sal...
Indiana Resources Limited Financial Statement Overview
Summary
Income Statement
30
Negative
Balance Sheet
78
Positive
Cash Flow
24
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 139.60M | 210.00K | 6.00K | 2.00K |
| Gross Profit | -26.00K | 139.58M | 210.00K | -72.00K | -73.00K |
| EBITDA | -5.57M | 103.03M | -4.13M | -1.92M | -2.04M |
| Net Income | -3.81M | 97.34M | -4.17M | -1.99M | -2.11M |
Balance Sheet | |||||
| Total Assets | 43.31M | 79.91M | 8.17M | 6.91M | 6.58M |
| Cash, Cash Equivalents and Short-Term Investments | 30.07M | 69.35M | 1.39M | 1.19M | 2.37M |
| Total Debt | 220.00K | 3.00K | 32.00K | 96.00K | 196.00K |
| Total Liabilities | 3.75M | 3.04M | 922.00K | 977.00K | 789.00K |
| Stockholders Equity | 36.56M | 73.50M | 6.88M | 5.65M | 5.44M |
Cash Flow | |||||
| Free Cash Flow | -3.44M | -6.15M | -4.72M | -2.95M | -4.50M |
| Operating Cash Flow | -3.44M | -6.15M | -4.20M | -1.47M | -2.53M |
| Investing Cash Flow | 3.37M | 79.55M | -494.00K | -1.39M | -1.97M |
| Financing Cash Flow | -31.88M | -31.64M | 4.89M | 1.68M | 5.57M |
Indiana Resources Limited Technical Analysis
Negative
0.02
Price Trends
0.02
Negative
0.02
Negative
0.03
Negative
Market Momentum
>-0.01
Positive
30.07
Neutral
33.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:IDA, 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 bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 30.07 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:IDA.
Indiana 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% | |
48 Neutral | AU$12.24M | -3.05 | -10.03% | 277.78% | -100.00% | -103.88% | |
48 Neutral | AU$18.27M | 10.24 | 2.63% | ― | ― | ― | |
45 Neutral | AU$22.77M | -3.48 | -43.32% | ― | ― | 24.79% | |
42 Neutral | AU$9.76M | -4.35 | -68.97% | ― | ― | 46.51% |
* Basic Materials Sector Average
AU:IDA
Indiana Resources Limited
0.02
-0.03
-63.27%
AU:SCN
Scorpion Minerals Limited
0.02
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-37.50%
AU:HWK
Alderan Resources Ltd.
0.03
0.01
73.68%
AU:LDR
Lode Resources Ltd
0.09
-0.15
-62.98%
Indiana Resources Limited Corporate Events
Indiana Resources Updates ASX Corporate Governance Disclosures
Sep 30, 2026
Indiana Resources Limited has lodged its updated corporate governance statement and Appendix 4G with the ASX for the year ended 30 June 2026. The statement, current as at 30 September 2026 and approved by the board, is hosted on the company’...
Indiana Resources updates governance and corporate structures in 2026 annual report
Sep 30, 2026
Indiana Resources Limited, an ASX-listed Australian company, operates from offices in West Perth and Adelaide and is embedded in the local corporate ecosystem through ties with National Australia Bank, InCorp Audit Assurance, Nova Legal, and Comp...
Indiana Resources completes key drilling and secures heritage clearance at Gawler Craton
Sep 24, 2026
Indiana Resources has completed a reverse circulation drilling program at its Company Well prospect within the Gawler Craton Project in South Australia, totalling 1,764 metres across 10 holes. Eight holes targeted a mineralised splay off the Lake ...
Indiana Resources Clears Key Heritage Hurdle Ahead of Maiden Drilling at Ealbara
Sep 10, 2026
Indiana Resources has completed a second heritage survey at the Ealbara prospect within its wholly owned Gawler Craton Project in South Australia, working alongside representatives of the Antakirinja Matu – Yankunytjatjara Aboriginal Corpora...
Indiana Resources Sets Key Dates for 2026 AGM and Director Nominations
Sep 10, 2026
Indiana Resources Limited, an ASX-listed resources company headquartered in West Perth, has issued a corporate governance update ahead of its next shareholder meeting. While the release does not detail operational activities, it reinforces the com...
Indiana Resources sets timetable for Ntaka arbitration ruling in 2027
Sep 3, 2026
Indiana Resources has provided an update on an ongoing arbitration linked to its former Ntaka Nickel project interests, where a dispute has arisen over how settlement funds from an arbitration claim against the United Republic of Tanzania should b...
Indiana Resources CEO Resigns as Gawler Craton Exploration and Tanzania Arbitration Advance
Aug 17, 2026
Indiana Resources Limited, an ASX-listed exploration company, concentrates on critical minerals, rare earths, gold and base metals across a 5,000km² landholding in South Australia’s Central Gawler Craton Province. Its tenements sit betw...
Indiana Resources Streamlines Share Register with Sale of Unmarketable Parcels
Jul 31, 2026
Indiana Resources Limited has completed its unmarketable parcel share sale facility, first announced in May, as part of efforts to streamline its share register. The company sold 2,359,572 shares from 341 small shareholders at $0.021 per share, a ...
Indiana Resources Advances Gawler Craton Gold and Titanium Exploration with Strong Cash Backing
Jul 29, 2026
Indiana Resources has advanced its exploration pipeline across the Gawler Craton Project, refining gold targets at the Minos-Ariadne-Company Well area through reprocessed aeromagnetic data and mineral mapping. Drilling at the Company Well prospect...
Indiana Resources Discloses Director Maja McGuire’s Final Equity Interests After Board Exit
Jul 3, 2026
Indiana Resources Limited has announced the cessation of director Maja McGuire from its board effective 1 July 2026, with a final notice detailing her relevant interests in the company’s securities. The disclosure outlines her holdings of fu...
Indiana Resources director increases indirect shareholding via on-market purchase
Jul 3, 2026
Indiana Resources Limited has disclosed a change in the indirect shareholding of director Bronwyn Barnes, reflecting an on-market acquisition of additional fully paid ordinary shares. The transaction was conducted through Laclos Pty Ltd, an entity...
Indiana Resources appoints David Wheeler, discloses equity-linked incentives
Jul 3, 2026
Indiana Resources Limited has appointed David Wheeler as a director effective 1 July 2026, formally disclosing his initial interests in the company’s securities to the ASX. The filing notes that Wheeler holds no shares directly, but has an i...
Indiana Resources Issues New Unquoted Performance Rights and Options
Jul 2, 2026
Indiana Resources Limited has notified the market of the issue of new unquoted equity securities, comprising 700,000 performance rights and 1.3 million options with expiries in December 2028 and December 2029. These securities, detailed under Appe...
Indiana Resources Plans New Issue of Performance Rights and Options
Jul 1, 2026
Indiana Resources Limited has lodged an Appendix 3B with the ASX detailing a proposed issue of new securities as part of a placement or other type of issuance. The proposal includes up to 700,000 performance rights and a total of 1.3 million optio...
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.