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Mamba Exploration Ltd.
(Sydney:M24)
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Rating:53Neutral
Price Target:
AU$0.05
▲(135.00% Upside)
Action:Reiterated
Date:10/09/26
The score is held back primarily by weak financial performance—zero revenue in 2026, ongoing losses, and sustained cash burn—despite a relatively strong, low-debt balance sheet. Offsetting this, technicals are notably positive with price above key moving averages and supportive momentum. Valuation remains a constraint due to the negative P/E and lack of dividend support.
Positive Factors
Low Leverage
Minimal leverage gives Mamba greater financial flexibility than a highly indebted explorer. Low debt reduces interest and refinancing pressure, allowing more of the company’s capital base to support exploration and development while limiting balance-sheet risk if operating results remain weak.
Negative Factors
No Current Revenue
Revenue falling to zero leaves Mamba without demonstrated operating income to fund its exploration strategy. The absence of consistent revenue makes financial performance dependent on future resource development or external capital, increasing uncertainty around the durability of its business model.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage
Minimal leverage gives Mamba greater financial flexibility than a highly indebted explorer. Low debt reduces interest and refinancing pressure, allowing more of the company’s capital base to support exploration and development while limiting balance-sheet risk if operating results remain weak.
Read all positive factors
Mamba Exploration Ltd. (M24) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$27.48M
Dividend YieldN/A
Average Volume (3M)4.19M
Price to Earnings (P/E)―
Beta (1Y)1.93
Revenue GrowthN/A
EPS Growth82.11%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding597,321,530
10 Day Avg. Volume1,182,902
30 Day Avg. Volume4,193,289
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)0.61
Price to Sales (P/S)0.00
P/FCF Ratio-5.60
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
Mamba Exploration Ltd. Business Overview & Revenue Model
Company Description
Mamba Exploration Limited, together with its subsidiary companies, operates as an Australian-based firm specializing in mineral exploration and development. The company's primary objective is to discover deposits rich in gold, copper, nickel, mang...
Mamba Exploration Ltd. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
27
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 68.39K | 55.11K | 37.23K | 17.03K |
| Gross Profit | -36.19K | 68.39K | -32.72K | -42.92K | -41.44K |
| EBITDA | -755.33K | -1.07M | -1.17M | -2.98M | -1.52M |
| Net Income | -734.01K | -3.05M | -1.25M | -3.07M | -1.58M |
Balance Sheet | |||||
| Total Assets | 8.48M | 5.42M | 7.39M | 5.53M | 8.31M |
| Cash, Cash Equivalents and Short-Term Investments | 1.19M | 562.26K | 825.97K | 747.57K | 3.41M |
| Total Debt | 33.49K | 66.61K | 14.11K | 92.28K | 82.39K |
| Total Liabilities | 118.71K | 217.59K | 332.60K | 321.24K | 247.21K |
| Stockholders Equity | 7.75M | 5.20M | 7.06M | 5.21M | 8.06M |
Cash Flow | |||||
| Free Cash Flow | -838.75K | -1.40M | -2.52M | -2.63M | -2.27M |
| Operating Cash Flow | -638.75K | -1.11M | -830.37K | -1.12M | -1.31M |
| Investing Cash Flow | -587.38K | -239.98K | -1.64M | -1.52M | -965.34K |
| Financing Cash Flow | 1.85M | 1.09M | 2.55M | -24.53K | 0.00 |
Mamba Exploration Ltd. Technical Analysis
Neutral
0.02
Price Trends
0.04
Positive
0.03
Positive
0.03
Positive
Market Momentum
<0.01
Positive
52.09
Neutral
26.57
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:M24, the sentiment is Neutral. The current price of 0.02 is below the 20-day moving average (MA) of 0.06, below the 50-day MA of 0.04, and below the 200-day MA of 0.03, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 52.09 is Neutral, neither overbought nor oversold. The STOCH value of 26.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:M24.
Mamba Exploration 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% | |
53 Neutral | AU$27.48M | -22.73 | -11.60% | ― | ― | 82.11% | |
49 Neutral | AU$9.21M | 1.09 | 337.95% | ― | ― | ― | |
48 Neutral | AU$7.88M | -9.17 | -4.22% | ― | ― | 50.68% | |
45 Neutral | AU$12.56M | -3.49 | -20.84% | ― | ― | 57.93% | |
44 Neutral | AU$21.73M | 100.00 | -0.13% | ― | ― | 97.78% | |
43 Neutral | AU$8.21M | -9.00 | -5.18% | ― | ― | 44.44% |
* Basic Materials Sector Average
AU:M24
Mamba Exploration Ltd.
0.05
0.03
170.59%
AU:GED
Golden Deeps Limited
0.04
-0.02
-33.33%
AU:VR8
Vanadium Resources Ltd.
0.03
>-0.01
-6.06%
AU:ITM
ITech Minerals LTD
0.03
-0.03
-45.00%
AU:EM2
Eagle Mountain Mining Ltd.
0.01
0.00
0.00%
AU:CTN
Shree Minerals Limited
0.05
<0.01
10.87%
Mamba Exploration Ltd. Corporate Events
Mamba advances Meeka East drilling and copper corridor as funding secured
Oct 25, 2026
Mamba Exploration has advanced its Meeka East Gold Project to drill-ready status after securing all heritage and regulatory approvals, and is set to commence a maiden 6,000m reverse circulation drilling program across multiple gold prospects in la...
Mamba Exploration Sets AGM Date and Director Nomination Deadline
Oct 12, 2026
Mamba Exploration has scheduled its Annual General Meeting for Monday, 30 November 2026, in line with ASX listing requirements and its corporate governance timetable. The company has also set 5.00pm AWST on 19 October 2026 as the deadline for shar...
Mamba Exploration Seeks ASX Quotation for Over 109 Million New Shares
Oct 8, 2026
Mamba Exploration Ltd has applied to the ASX for quotation of 109,789,473 new ordinary fully paid shares under its ticker M24. The move significantly increases the company’s quoted securities base, indicating a substantial capital-related tr...
Mamba Exploration Advances High‑Grade Copper and Drill‑Ready Gold Projects
Oct 1, 2026
Mamba Exploration has identified thick, high‑grade historical copper intersections at its Copper Hills project within the Nanadie copper corridor, strengthening the potential of its copper portfolio in Western Australia. The company is also ...
Mamba Exploration Issues 6 Million Strategic Advisor Options Under Incentive Scheme
Oct 1, 2026
Mamba Exploration Ltd., an ASX-listed mineral exploration company trading under ticker M24, operates in Australia’s resources sector and seeks to grow shareholder value through exploration of mineral assets. The firm uses equity-based incent...
Mamba Exploration Plans 25 Million New Options in ASX Placement
Oct 1, 2026
Mamba Exploration Limited has lodged details with the ASX for a proposed issue of new securities in the form of unquoted options. The company plans to issue up to 25,000,000 options with an exercise price of A$0.06 and a three-year term from the d...
Mamba Exploration Plans Major Share Placement on ASX
Oct 1, 2026
Mamba Exploration Ltd. has announced a proposed issue of up to 48,105,264 ordinary fully paid shares on the ASX, structured as a placement or similar capital raising. The new securities, to be issued under its M24 ticker, are targeted for a propos...
Mamba Exploration Plans Large Share Placement on ASX
Oct 1, 2026
Mamba Exploration Limited has announced a proposed placement of up to 109,789,473 new ordinary fully paid shares, to be issued under its ASX code M24. The new securities are scheduled for issue on 9 October 2026, subject to ASX processes, expandin...
Mamba Exploration Plans New Share Placement on ASX
Oct 1, 2026
Mamba Exploration Limited has lodged an Appendix 3B with the ASX outlining a proposed placement of up to 8,547,009 ordinary fully paid shares.The new securities, to be quoted under its existing M24 code, represent a capital-raising initiative that...
Mamba Exploration Raises $6m, Adds Poison Hills Earn-In and Westgold Founder as Adviser
Oct 1, 2026
Mamba Exploration has secured firm commitments for a $6.0 million share placement at $0.038 per share, backed by strategic investors, existing shareholders and institutions, including directors subject to approval. Regional gold producer New Murch...
Mamba Exploration Releases 2026 Consolidated Annual Report
Sep 29, 2026
Mamba Exploration Ltd. has released its consolidated annual report for the year ended 30 June 2026, detailing its financial performance, balance sheet position, cash flows, and changes in equity. The report also outlines the company’s govern...
Mamba Exploration Confirms Extensive Copper System at Meeka East
Sep 20, 2026
Mamba Exploration has completed a comprehensive review of historical drilling at its 70%-owned Meeka East project, confirming 165 copper intersections in 47 drill holes across the Copper Hills and Lady Alma prospects along a 3km corridor. The upda...
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.