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Mandrake Resources Ltd
(Sydney:MAN)
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Rating:46Neutral
Price Target:
AU$0.02
▲(0.00% Upside)
Action:Reiterated
Date:09/20/26
The score is held down primarily by weak operating performance (revenue dropping to zero in 2026, widening losses) and persistent negative free cash flow that increases reliance on future funding. A debt-free balance sheet with sizable equity provides an important cushion, but technical indicators are largely neutral and valuation remains unattractive due to losses and no indicated dividend support.
Positive Factors
Debt-free balance sheet
A debt-free structure reduces refinancing exposure and interest obligations, giving Mandrake more flexibility while it advances exploration projects. This cushion can help preserve solvency through weak operating periods, although continued losses could still erode the equity base over time.
Negative Factors
Revenue instability
A zero-revenue year leaves Mandrake without a dependable operating income stream to fund exploration or corporate costs. The sharp reversal from earlier improvement makes future project progress and monetisation difficult to forecast, increasing reliance on financing or successful asset outcomes.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
A debt-free structure reduces refinancing exposure and interest obligations, giving Mandrake more flexibility while it advances exploration projects. This cushion can help preserve solvency through weak operating periods, although continued losses could still erode the equity base over time.
Read all positive factors
Mandrake Resources Ltd (MAN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$12.55M
Dividend YieldN/A
Average Volume (3M)890.58K
Price to Earnings (P/E)―
Beta (1Y)0.47
Revenue GrowthN/A
EPS Growth-480.00%
CountryAU
Employees28
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding627,259,950
10 Day Avg. Volume1,445,448
30 Day Avg. Volume890,581
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.64
Price to Sales (P/S)0.00
P/FCF Ratio-8.33
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
Mandrake Resources Ltd Business Overview & Revenue Model
Company Description
Mandrake Resources Limited engages in the exploration and evaluation of mineral resources. It explores for gold, lithium, silver, uranium, nickel, platinum group elements, and copper deposits. The company holds 100% interest Utah Lithium project t...
How the Company Makes Money
null...
Mandrake Resources Ltd Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
34
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 664.42K | 736.58K | 402.02K | 23.68K |
| Gross Profit | 0.00 | 664.42K | 736.58K | 402.02K | 23.68K |
| EBITDA | -1.14M | -1.29M | -179.00K | -292.00K | -415.00K |
| Net Income | -3.61M | -623.71K | -198.00K | -311.00K | -560.00K |
Balance Sheet | |||||
| Total Assets | 20.86M | 23.98M | 23.88M | 23.64M | 19.87M |
| Cash, Cash Equivalents and Short-Term Investments | 11.67M | 13.25M | 14.92M | 16.81M | 16.26M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 141.76K | 102.23K | 166.80K | 138.66K | 185.26K |
| Stockholders Equity | 20.72M | 23.87M | 23.72M | 23.50M | 19.68M |
Cash Flow | |||||
| Free Cash Flow | -1.58M | -1.67M | -1.88M | -3.35M | -1.16M |
| Operating Cash Flow | -114.40K | 65.45K | 240.81K | -105.31K | -418.35K |
| Investing Cash Flow | -1.47M | -1.73M | -2.12M | -3.24M | -738.70K |
| Financing Cash Flow | 0.00 | -3.06K | -5.06K | 3.89M | 1.36M |
Mandrake Resources Ltd Technical Analysis
Positive
0.02
Price Trends
0.02
Positive
0.02
Negative
0.02
Negative
Market Momentum
<0.01
Negative
53.41
Neutral
22.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MAN, the sentiment is Positive. The current price of 0.02 is above the 20-day moving average (MA) of 0.02, above the 50-day MA of 0.02, and below the 200-day MA of 0.02, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 53.41 is Neutral, neither overbought nor oversold. The STOCH value of 22.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:MAN.
Mandrake Resources 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% | |
48 Neutral | AU$17.22M | -3.02 | -33.13% | ― | ― | -345.45% | |
48 Neutral | AU$313.25M | -3.89 | -33.37% | ― | ― | -136.84% | |
47 Neutral | AU$17.23M | -1.81 | -167.03% | ― | ― | 2.65% | |
46 Neutral | AU$12.55M | -3.45 | -17.36% | ― | ― | -480.00% | |
45 Neutral | AU$13.31M | -1.48 | -130.68% | ― | ― | 13.04% | |
43 Neutral | AU$11.56M | -2.35 | -201.09% | ― | ― | 41.73% |
* Basic Materials Sector Average
AU:MAN
Mandrake Resources Ltd
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Mandrake Resources Ltd Corporate Events
Mandrake Resources Clears Final Permit for Berinka Gold-Copper Drilling
Sep 17, 2026
Mandrake Resources has secured an Environmental Mining Licence from the Northern Territory Department of Lands, Planning and Environment, clearing the way for a planned ~3,200m drilling programme at its Berinka Gold-Copper Project in the Pine Cree...
Mandrake Resources Files Appendix 4G and Updates Corporate Governance Disclosures
Sep 16, 2026
Mandrake Resources Ltd has lodged its Appendix 4G with the ASX, confirming the location and currency of its corporate governance statement for the financial year ended 30 June 2026. The statement, approved by the board as at 16 September 2026, is ...
Mandrake Resources Updates Corporate Governance and Diversity Disclosures
Sep 16, 2026
Mandrake Resources has released an updated Corporate Governance Statement outlining the extent of its compliance with the ASX Corporate Governance Council’s Principles and Recommendations. The document details its adoption of a Board Charter...
Mandrake Resources Publishes 2026 Annual Report
Sep 16, 2026
Mandrake Resources Limited has released its annual report for the year ended 30 June 2026, detailing the company’s financial results, governance disclosures and audited remuneration information. The report also includes consolidated financia...
Mandrake Advances Utah Lithium Project With Bulk Brine Testing
Sep 14, 2026
Mandrake Resources has completed swabbing operations at the Evelyn Chambers #1 well in Utah, recovering about 8,000 litres of lithium brine from existing perforations in the Leadville Formation, which were originally designed for now-depleted oil ...
Mandrake begins bulk lithium brine production at Utah project
Aug 11, 2026
Mandrake Resources has begun swabbing operations at the Evelyn Chambers #1 well in its Utah Lithium Project, extracting bulk lithium brine from existing perforations in the Leadville Formation. The company is using this lower-cost, non-optimised w...
Mandrake streamlines Utah lithium tenure and moves to bulk brine testing
Aug 3, 2026
Mandrake Resources has secured three strategic SITLA leases totaling 1,320 acres in the central zone of its Utah Lithium Project, where petrophysical data indicate thicker, more porous Leadville lithium brine reservoirs. At the same time, the comp...
Mandrake Resources advances Utah lithium appraisal and readies Berinka drilling
Jul 21, 2026
Mandrake Resources has signed a Well Access Agreement with Genesis ST Operating to extract up to 600 barrels of lithium brine from the Evelyn Chambers #1 well at its Utah Lithium Project for technical and commercial appraisal. The brine production...
Mandrake Moves to Bulk Brine Output at Utah Lithium Project
Jul 5, 2026
Mandrake Resources has signed a Well Access Agreement with local operator Genesis ST Operating to produce bulk lithium brine from the Evelyn Chambers #1 well at its Utah Lithium Project. The company plans to swab existing perforations in the Leadv...
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.