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Mt Malcolm Mines NL
(Sydney:M2M)
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Rating:44Neutral
Price Target:
AU$0.01
▲(0.00% Upside)
Action:Reiterated
Date:09/27/26
The score is driven primarily by weak financial performance, marked by unstable revenue, recurring losses, and consistently negative (and worsening) free cash flow, which raises execution and funding risk. The low-debt balance sheet helps limit financial leverage risk, but does not offset the lack of sustainable operating performance. With no usable technical indicators and a negative P/E, technical and valuation inputs provide limited support.
Positive Factors
Very low leverage
Very low leverage reduces financial risk and preserves flexibility compared with a highly indebted explorer. A debt-to-equity ratio near 1% limits interest and refinancing burdens, giving management more capacity to fund exploration or respond to changing project conditions.
Negative Factors
Unstable revenue base
Highly volatile revenue, including a return to zero after a FY2025 spike, indicates that operating activity has not yet reached a dependable commercial scale. This makes future results difficult to forecast and leaves the company more exposed to funding needs while projects remain in exploration.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
Very low leverage reduces financial risk and preserves flexibility compared with a highly indebted explorer. A debt-to-equity ratio near 1% limits interest and refinancing burdens, giving management more capacity to fund exploration or respond to changing project conditions.
Read all positive factors
Mt Malcolm Mines NL (M2M) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$5.55M
Dividend YieldN/A
Average Volume (3M)614.97K
Price to Earnings (P/E)―
Beta (1Y)-0.02
Revenue Growth-100.00%
EPS Growth-3800.00%
CountryAU
Employees7
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding792,833,740
10 Day Avg. Volume1,021,630
30 Day Avg. Volume614,971
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.23
Price to Sales (P/S)0.00
P/FCF Ratio-1.54
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
Mt Malcolm Mines NL Business Overview & Revenue Model
Company Description
Mt Malcolm Mines NL is an Australian enterprise focused on gold exploration. Its core asset is the Malcolm project, situated in Western Australia, where the company maintains a 100% ownership stake across 151 tenements, collectively spanning 274 s...
How the Company Makes Money
null...
Mt Malcolm Mines NL Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
70
Positive
Cash Flow
24
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 1.45M | 14.17K | 0.00 | 0.00 |
| Gross Profit | -103.04K | 753.96K | -93.89K | -90.78K | -38.89K |
| EBITDA | -1.56M | 188.26K | -1.07M | -1.24M | -1.33M |
| Net Income | -1.64M | 30.58K | -1.18M | -1.33M | -1.37M |
Balance Sheet | |||||
| Total Assets | 14.45M | 11.88M | 9.37M | 7.88M | 8.78M |
| Cash, Cash Equivalents and Short-Term Investments | 1.35M | 931.35K | 640.35K | 743.90K | 4.65M |
| Total Debt | 131.15K | 428.56K | 254.07K | 76.51K | 105.47K |
| Total Liabilities | 714.93K | 1.21M | 1.23M | 463.41K | 595.32K |
| Stockholders Equity | 13.73M | 10.67M | 8.14M | 7.42M | 8.18M |
Cash Flow | |||||
| Free Cash Flow | -2.02M | 197.91K | -2.53M | -4.39M | -3.32M |
| Operating Cash Flow | -1.44M | 243.91K | -881.47K | -877.34K | -1.22M |
| Investing Cash Flow | -2.17M | -2.06M | -1.64M | -3.52M | -2.10M |
| Financing Cash Flow | 4.04M | 2.11M | 2.43M | 480.08K | 7.54M |
Mt Malcolm Mines NL 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$16.21M | -21.93 | -13.41% | ― | ― | 76.01% | |
44 Neutral | AU$5.55M | -1.89 | -12.31% | ― | -100.00% | -3800.00% | |
44 Neutral | AU$5.31M | -4.40 | -84.70% | ― | ― | 41.86% | |
44 Neutral | AU$3.77M | -1.42 | -498.87% | 1.61% | -96.35% | -202.04% | |
44 Neutral | AU$7.07M | -2.98 | -15.83% | ― | ― | 82.73% | |
44 Neutral | AU$5.86M | -1.32 | -114.26% | ― | ― | 42.86% |
* Basic Materials Sector Average
AU:M2M
Mt Malcolm Mines NL
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Mt Malcolm Mines NL Corporate Events
Mt Malcolm Mines Updates Corporate Governance Framework
Sep 25, 2026
Mt Malcolm Mines NL has released its Corporate Governance Statement for the financial year starting 1 July 2025, confirming its adherence to the ASX Corporate Governance Council’s fourth edition principles. The board emphasises ethical condu...
Mt Malcolm Mines NL Releases 2026 Annual Report
Sep 25, 2026
Mt Malcolm Mines NL has released its annual report for the year ended 30 June 2026, outlining a review of operations, directors’ and auditors’ reports, and consolidated financial statements. The document provides stakeholders with a co...
Mt Malcolm Mines Issues New Shares as Service Consideration Under Cleansing Notice
Sep 23, 2026
Mt Malcolm Mines NL has issued 18,203,500 fully paid ordinary shares as part consideration for services rendered, adding to its existing class of ASX-quoted securities. The issuance was conducted without a disclosure document under the Corporation...
Mt Malcolm Mines Seeks ASX Quotation for 18.2 Million New Shares
Sep 23, 2026
Mt Malcolm Mines NL, an Australian resources company listed on the ASX under ticker M2M, is engaged in mineral exploration and development and leverages public equity issuance to fund its activities. Its operations are centered on building a portf...
Mt Malcolm Mines NL Issues 6 Million Unquoted Options in Capital Management Move
Sep 23, 2026
Mt Malcolm Mines NL has issued two new classes of unquoted options as part of its capital structure, both not intended to be quoted on the ASX. The options comprise 3 million securities expiring on 8 October 2029 with an exercise price of $0.04 an...
Mt Malcolm Maps New Copper-Gold Targets Across Malcolm Project
Sep 16, 2026
Mt Malcolm Mines NL has completed an integrated geological review across its Malcolm Project near Leonora, delineating multiple new copper and gold exploration targets. The work combines recent rock-chip assays, soil pXRF screening and historic dr...
Mt Malcolm Mines Signs iDrilling for Calypso Gold Project Expansion
Sep 4, 2026
Mt Malcolm Mines NL has appointed iDrilling Australia Pty Ltd to undertake a proposed 8,500 metre drilling program at its Calypso Gold Project near Leonora in Western Australia, covering about 30 drill-hole collar locations with a mix of RC-only a...
Mt Malcolm Mines Director David Evans Increases Shareholding
Jun 30, 2026
Mt Malcolm Mines NL has disclosed a change in director David Evans’ interests in the company’s shares, in line with ASX listing rule requirements. The notice reports that Evans, through direct and associated holdings, has increased his...
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.
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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.