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Southern Gold Limited
(Sydney:ION)
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Rating:47Neutral
Price Target:
AU$0.15
▲(155.00% Upside)
Action:Reiterated
Date:09/10/26
The score is held down primarily by weak financial performance (persistent losses, minimal/volatile revenue, and ongoing cash burn), despite the benefit of a low-debt balance sheet. Technicals are supportive of a strong uptrend but are very overbought, increasing pullback risk. Valuation is also constrained by a negative P/E and lack of dividend yield data.
Positive Factors
Low Leverage
An effectively debt-free balance sheet reduces interest obligations and refinancing exposure, preserving financial flexibility while projects are assessed. Although profitability remains weak, low leverage limits balance-sheet strain and gives management more freedom in deciding how to fund future exploration.
Negative Factors
Revenue Collapse
Revenue falling to zero demonstrates that the company currently lacks a stable operating income base. This makes financial performance highly dependent on project progress and funding rather than recurring commercial activity, limiting visibility into sustainable earnings over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage
An effectively debt-free balance sheet reduces interest obligations and refinancing exposure, preserving financial flexibility while projects are assessed. Although profitability remains weak, low leverage limits balance-sheet strain and gives management more freedom in deciding how to fund future exploration.
Read all positive factors
Southern Gold Limited (ION) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$162.05M
Dividend YieldN/A
Average Volume (3M)7.50M
Price to Earnings (P/E)―
Beta (1Y)2.50
Revenue Growth-100.00%
EPS Growth-9.80%
CountryAU
Employees28
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding1,296,367,700
10 Day Avg. Volume10,942,254
30 Day Avg. Volume7,499,413
Financial Highlights & Ratios
PEG Ratio-0.51
Price to Book (P/B)5.63
Price to Sales (P/S)0.00
P/FCF Ratio-10.56
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)-0.55
Revenue Forecast (FY)AU$7.30M
Southern Gold Limited Business Overview & Revenue Model
Company Description
Iondrive Limited is primarily engaged in advancing and commercializing battery technology, complemented by its activities in lithium exploration. The company also conducts prospecting for other key minerals such as gold, silver, copper, palladium,...
How the Company Makes Money
null...
Southern Gold Limited Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
58
Neutral
Cash Flow
25
Negative
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 245.29K | 0.00 | 0.00 | 0.00 |
| Gross Profit | -4.33K | 173.22K | 0.00 | 0.00 | 0.00 |
| EBITDA | -10.68M | -5.63M | -6.05M | -7.92M | -7.48M |
| Net Income | -7.02M | -4.62M | -6.12M | -8.04M | 4.34M |
Balance Sheet | |||||
| Total Assets | 9.63M | 8.99M | 4.99M | 8.61M | 25.11M |
| Cash, Cash Equivalents and Short-Term Investments | 6.97M | 5.87M | 2.76M | 4.21M | 8.00M |
| Total Debt | 0.00 | 0.00 | 19.82K | 33.52K | 124.46K |
| Total Liabilities | 3.44M | 1.54M | 958.23K | 944.33K | 683.92K |
| Stockholders Equity | 6.20M | 7.45M | 4.04M | 7.66M | 24.43M |
Cash Flow | |||||
| Free Cash Flow | -3.30M | -4.02M | -3.65M | -4.80M | -4.35M |
| Operating Cash Flow | -3.30M | -3.98M | 0.00 | 0.00 | 0.00 |
| Investing Cash Flow | 557.65K | 212.02K | 1.38M | -531.09K | -2.33M |
| Financing Cash Flow | 3.85M | 6.87M | 623.76K | 4.31M | 8.86M |
Southern Gold Limited Technical Analysis
Positive
0.06
Price Trends
0.05
Positive
0.04
Positive
0.04
Positive
Market Momentum
0.01
Negative
85.73
Negative
86.87
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:ION, the sentiment is Positive. The current price of 0.06 is below the 20-day moving average (MA) of 0.07, above the 50-day MA of 0.05, and above the 200-day MA of 0.04, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 85.73 is Negative, neither overbought nor oversold. The STOCH value of 86.87 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:ION.
Southern Gold 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% | |
52 Neutral | AU$37.44M | 0.69 | 124.08% | ― | ― | ― | |
52 Neutral | AU$41.27M | 0.85 | 30.00% | ― | 128.86% | ― | |
48 Neutral | AU$38.37M | -2.66 | -50.09% | ― | 4939.45% | -187.90% | |
47 Neutral | AU$162.05M | -25.00 | -95.49% | ― | -100.00% | -9.80% | |
43 Neutral | AU$22.81M | -2.45 | -342.09% | ― | ― | -86.59% | |
39 Underperform | AU$36.83M | -6.12 | -49.57% | ― | ― | 7.55% |
* Basic Materials Sector Average
AU:ION
Southern Gold Limited
0.16
0.11
260.47%
AU:KSN
Kingston Resources Ltd.
0.03
-0.10
-74.81%
AU:NXM
Nexus Minerals Ltd.
0.06
-0.02
-23.38%
AU:ZAG
Zuleika Gold Limited
0.04
0.01
40.00%
AU:WGR
Western Gold Resources Ltd.
0.08
-0.03
-30.91%
AU:VTX
Vertex Minerals Ltd.
0.13
-0.20
-60.94%
Southern Gold Limited Corporate Events
Iondrive to Brief Investors on Critical Minerals Strategy in September Webinar
Sep 7, 2026
Iondrive Limited will host an investor webinar on 10 September 2026, where CEO Dr Grant Caffery and Chief Strategy Commercial Officer Lewis Utting will provide a company update and discuss recent activities and the outlook for the business. The s...
Iondrive Unveils Updated Strategy for U.S. Rare Earth Recycling Using IONSolv Platform
Sep 6, 2026
Iondrive Limited has released an updated corporate presentation outlining its strategy to secure a circular domestic rare earth supply chain in the United States using its proprietary IONSolv platform. The technology selectively recovers and upgra...
Iondrive’s Updated IONSolv Study Shows Strong Economics for U.S. Rare Earth Module
Sep 6, 2026
Iondrive Limited has released an updated technical and economic evaluation for a single IONSolv module in the United States, indicating a post-tax net present value of US$243 million and annual EBITDA of US$62.1 million on revenue of US$121.8 mill...
Iondrive Limited Releases Audited Annual Report for FY2026
Aug 31, 2026
Iondrive Limited has released its annual financial report for the year ended 30 June 2026, providing shareholders with a comprehensive set of consolidated financial statements and accompanying disclosures. The report includes the directors’ ...
Iondrive Boosts Grant-Funded Revenue but Posts Wider Loss and Going Concern Risk
Aug 31, 2026
Iondrive Ltd reported a sharp increase in revenue to $3.64 million for the year to 30 June 2026, driven largely by Australian government grants and RD tax incentives rather than commercial sales. The group also broadened its international structur...
IONDRIVE Seeks ASX Quotation for Additional Ordinary Shares
Aug 6, 2026
IONDRIVE Limited has lodged an application with the ASX for quotation of 223,214 ordinary fully paid shares. These securities, issued on 6 August 2026, are to be traded under the existing ION ticker, expanding the volume of shares available to inv...
IONDRIVE Issues 20 Million Unquoted Performance Rights Vesting in 2028
Aug 5, 2026
IONDRIVE Limited has notified the market of the issue of 20,000,000 unquoted performance rights, to be vested on June 30, 2028, under an Appendix 3G filing with the ASX. These securities, which are not intended to be quoted, form part of previousl...
IONDRIVE plans modest share placement to issue 223,214 new shares
Aug 3, 2026
IONDRIVE Limited has notified the ASX of a proposed issue of 223,214 fully paid ordinary shares, to be conducted as a placement or similar capital raising. The company has lodged an Appendix 3B, signalling its intention to seek quotation for the n...
Iondrive launches first commercial-scale rare earth recycling campaign in North America
Aug 3, 2026
Iondrive Limited has commissioned its first five-tonne IONSolv™ production campaign in North America, aiming to convert approximately five tonnes of end-of-life permanent magnets into about 1.4 tonnes of mixed rare earth oxide in the fourth ...
IONDRIVE trims potential equity dilution as options and rights lapse
Jul 31, 2026
IONDRIVE Limited has notified the ASX of the cessation of several classes of options and conditional rights to securities, following their expiry or lapse without exercise or conversion. The changes, affecting millions of options that have either ...
Iondrive advances U.S. rare-earth push with Oklahoma backing and validated recycling tech
Jul 30, 2026
Iondrive reported a pivotal quarter as it advanced plans to commercialise its IONSolv technology in the United States rare-earth market, where policy is increasingly backing domestic processing, recycling and magnet supply chains. Independent vali...
IONDRIVE Plans 20 Million New Performance Rights Issue
Jul 22, 2026
IONDRIVE Limited has notified the ASX of a proposed issue of up to 20 million performance rights, which are scheduled to vest on 30 June 2028. The securities will form a new class and are intended to be issued on 31 July 2026 as part of a placemen...
Iondrive pushes scalable metals-recovery platform for U.S. rare earth circularity
Jul 2, 2026
Iondrive Limited, traded on the ASX as ION, is an advanced materials and recycling technology company developing Deep Eutectic Solvent-based processes. Its main focus is on selectively recovering and upgrading metals from complex materials, includ...
Iondrive Secures Oklahoma Backing for Modular U.S. Rare Earth Recycling Rollout
Jun 28, 2026
Iondrive has secured a Letter of Support from the Oklahoma Department of Commerce for its first advanced critical minerals processing and recycling module in the U.S., anchoring the commercial rollout of its IONSolv rare earth recovery technology....
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.