MinRex Resources Limited (AU:MRR)
ASX:MRR
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MinRex Resources Limited
(Sydney:MRR)
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Rating:46Neutral
Price Target:
AU$0.02
▲(60.00% Upside)
Action:Reiterated
Date:06/05/26
The score is held back primarily by weak financial performance: ongoing net losses and negative operating/free cash flow despite improved revenue and reduced losses. Technical indicators are broadly neutral with the price below key moving averages, and valuation remains constrained by a negative P/E and no dividend yield.
Positive Factors
Low leverage / strong balance sheet
A near-zero debt load materially lowers insolvency and interest burden risk, giving management flexibility to fund operations, pursue capex or M&A, and withstand cash burn periods without immediate refinancing pressure. This structural strength supports solvency while losses persist.
Negative Factors
Persistent negative cash flow
Consistent negative operating and free cash flow means the company must rely on external financing or equity dilution to sustain operations. Over months this erodes financial flexibility, raises refinancing risk, and can constrain strategic investments or R&D necessary for durable growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
A near-zero debt load materially lowers insolvency and interest burden risk, giving management flexibility to fund operations, pursue capex or M&A, and withstand cash burn periods without immediate refinancing pressure. This structural strength supports solvency while losses persist.
Read all positive factors
MinRex Resources Limited (MRR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$34.22M
Dividend YieldN/A
Average Volume (3M)1.81M
Price to Earnings (P/E)―
Beta (1Y)1.18
Revenue GrowthN/A
EPS Growth15.79%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding2,138,543,500
10 Day Avg. Volume2,057,615
30 Day Avg. Volume1,805,245
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)0.67
Price to Sales (P/S)265.42
P/FCF Ratio-6.97
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
MinRex Resources Limited Business Overview & Revenue Model
Company Description
MinRex Resources Limited, an Australian company founded in 2011 and based in Perth, is dedicated to discovering and developing mineral deposits. The firm primarily concentrates its efforts on gold, silver, copper, and various other base metals acr...
How the Company Makes Money
null...
MinRex Resources Limited Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
68
Positive
Cash Flow
20
Very Negative
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 32.38K | 6.02K | 0.00 | 0.00 | 0.00 |
| Gross Profit | 32.38K | -70.31K | -113.36K | -66.82K | -50.93K |
| EBITDA | -2.06M | -4.23M | -17.19M | -2.65M | -1.00M |
| Net Income | -2.36M | -4.30M | -17.31M | -2.72M | -1.06M |
Balance Sheet | |||||
| Total Assets | 12.95M | 14.81M | 19.03M | 34.60M | 12.08M |
| Cash, Cash Equivalents and Short-Term Investments | 499.32K | 9.94M | 11.69M | 14.19M | 2.45M |
| Total Debt | 0.00 | 71.73K | 105.03K | 129.71K | 102.69K |
| Total Liabilities | 192.14K | 270.44K | 532.39K | 475.47K | 452.62K |
| Stockholders Equity | 12.76M | 14.53M | 18.50M | 34.12M | 11.63M |
Cash Flow | |||||
| Free Cash Flow | -1.23M | -2.13M | -3.69M | -2.65M | -1.04M |
| Operating Cash Flow | -1.23M | -1.98M | -3.54M | -2.35M | -664.79K |
| Investing Cash Flow | -174.42K | -7.94M | -192.45K | -232.13K | -379.12K |
| Financing Cash Flow | 171.50K | -37.81K | 1.23M | 14.32M | 2.99M |
MinRex 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$22.36M | >-0.01 | -6.64% | ― | ― | 55.00% | |
46 Neutral | AU$34.22M | -9.70 | -14.34% | ― | ― | 15.79% | |
44 Neutral | AU$29.19M | -4.14 | -112.37% | ― | ― | -15.47% | |
42 Neutral | AU$3.80M | -1.81 | -58.32% | ― | ― | -47.83% | |
41 Neutral | AU$11.19M | -3.51 | -27.21% | ― | ― | 16.05% |
* Basic Materials Sector Average
AU:MRR
MinRex Resources Limited
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MinRex Resources Limited Corporate Events
MinRex Appoints Robert Edwards as Director With No Current Shareholding
Jun 3, 2026
MinRex Resources Limited has appointed Robert Edwards as a director effective 3 June 2026, according to an initial director’s interest notice filed with the ASX. The filing confirms that Edwards holds no relevant interests in the companyR...
Minrex taps veteran deal-maker Robert Edwards as chair amid Serbia drilling push
Jun 3, 2026
Minrex Resources has appointed Robert Edwards as Non-Executive Chair, coinciding with the start of drilling at the Barje Deposit within its flagship Tlamino Gold Project in southern Serbia. The move strengthens the board with deep global mining, c...
MinRex details Electrum acquisition and Balkans growth platform
May 5, 2026
MinRex Resources has released a corporate presentation outlining its acquisition of Electrum Discovery Corp. and the integration of Electrum’s Balkan gold and copper assets, including the Tlamino Gold Project and Timok East Gold-Copper Proje...
MinRex Completes Electrum Merger to Build Serbia-Australia Gold-Copper Platform
Apr 30, 2026
MinRex Resources has completed its merger with Canadian explorer Electrum Discovery Corp., acquiring 100% of its shares and creating a better-funded gold and copper exploration group with assets spanning Serbia and New South Wales. The combined en...
MinRex appoints new CEO to drive post-merger Balkans growth strategy
Apr 21, 2026
MinRex Resources has appointed experienced mining executive Max Piirto as its new Chief Executive Officer, following the completion of its merger with Electrum Discovery Corp, effective 22 April 2026. The move formalises the company’s transi...
MinRex seeks ASX quotation for over 1.05 billion new shares
Apr 12, 2026
MinRex Resources Limited has applied for quotation on the ASX of 1,053,675,911 new ordinary fully paid shares, with an issue date of 10 April 2026. The substantial volume of securities being quoted suggests a major capital or transaction-related s...
MinRex Completes Electrum Merger to Build Serbia–Australia Gold-Copper Explorer
Apr 12, 2026
MinRex Resources has completed its all-share merger with TSX-V listed Electrum Discovery, making Electrum a wholly owned subsidiary and consolidating their assets into a well-funded, ASX-listed gold and copper explorer. The deal adds Electrum̵...
Electrum Shareholders Back Merger with MinRex Resources
Mar 25, 2026
MinRex Resources Limited announced that securityholders of Canada’s Electrum Discovery Corp. have overwhelmingly approved a proposed merger under a statutory plan of arrangement in British Columbia. Approximately 99.99% of votes cast at Elec...
MinRex details Electrum merger and Balkans gold-copper growth platform
Mar 10, 2026
MinRex Resources has outlined details surrounding its acquisition of Electrum Discovery Corp., which will create a combined, well-capitalised gold and copper exploration platform in the Balkans. The enlarged group will centre on Electrum’s T...
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.