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QEM Limited
(Sydney:QEM)
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Rating:41Neutral
Price Target:
AU$0.01
â–Ľ(-30.00% Downside)
Action:Reiterated
Date:10/03/26
The score is driven primarily by weak financial performance—recurring losses, zero revenue in the latest year, and persistent negative operating/free cash flow—raising funding durability risk. Technical indicators also point to a downtrend (price below key moving averages and negative MACD). Valuation provides limited support due to negative earnings and no indicated dividend yield.
Positive Factors
Low Leverage
Zero reported total debt in 2026 and historically minimal leverage reduce creditor pressure and leave the company more flexibility to direct capital toward exploration. This is a durable financial buffer for an early-stage explorer, although it does not by itself establish profitability.
Negative Factors
Persistent Losses
Negative EBIT and net income across the full period show that the current business model is not yet profitable. Persistent losses weaken internal funding capacity and indicate that exploration expenditure is not presently supported by operating earnings, leaving future value creation dependent on project progress and financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage
Zero reported total debt in 2026 and historically minimal leverage reduce creditor pressure and leave the company more flexibility to direct capital toward exploration. This is a durable financial buffer for an early-stage explorer, although it does not by itself establish profitability.
Read all positive factors
QEM Limited (QEM) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$5.47M
Dividend YieldN/A
Average Volume (3M)3.43M
Price to Earnings (P/E)―
Beta (1Y)3.39
Revenue GrowthN/A
EPS Growth48.31%
CountryAU
EmployeesN/A
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding364,647,860
10 Day Avg. Volume2,702,043
30 Day Avg. Volume3,430,263
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)1.16
Price to Sales (P/S)0.00
P/FCF Ratio-2.14
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
QEM Limited Business Overview & Revenue Model
Company Description
Operating in Australia, QEM Limited specializes in the exploration and development of vanadium and oil shale resources. Its principal undertaking is the Julia Creek oil shale and vanadium project, an extensive site encompassing 249.6 square kilome...
How the Company Makes Money
null...
QEM Limited Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
62
Positive
Cash Flow
18
Very Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 263.17K | 0.00 | 453.40K | 256.77K |
| Gross Profit | -153.37K | 263.17K | -237.99K | 211.49K | 174.77K |
| EBITDA | -2.25M | -2.93M | -4.28M | -4.76M | -2.75M |
| Net Income | -2.42M | -3.23M | -2.04M | -4.56M | -2.83M |
Balance Sheet | |||||
| Total Assets | 4.57M | 3.40M | 2.32M | 3.39M | 2.64M |
| Cash, Cash Equivalents and Short-Term Investments | 4.26M | 2.84M | 1.65M | 1.97M | 1.43M |
| Total Debt | 0.00 | 37.17K | 36.48K | 140.68K | 235.33K |
| Total Liabilities | 289.13K | 566.92K | 751.70K | 639.91K | 818.02K |
| Stockholders Equity | 4.28M | 2.83M | 1.56M | 2.75M | 1.82M |
Cash Flow | |||||
| Free Cash Flow | -2.33M | -2.92M | -4.00M | -4.13M | -3.35M |
| Operating Cash Flow | -2.32M | -2.91M | -3.96M | -3.52M | -2.67M |
| Investing Cash Flow | -3.02K | -13.48K | 2.96M | -608.68K | -684.50K |
| Financing Cash Flow | 3.75M | 4.11M | 673.01K | 4.65M | 3.45M |
QEM Limited Technical Analysis
Positive
0.02
Price Trends
0.02
Positive
0.02
Negative
0.03
Negative
Market Momentum
>-0.01
Positive
51.78
Neutral
111.11
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:QEM, 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 0.03, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 51.78 is Neutral, neither overbought nor oversold. The STOCH value of 111.11 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:QEM.
QEM Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
58 Neutral | AU$7.53M | 5.22 | 9.31% | ― | 50.52% | ― | |
45 Neutral | AU$7.77M | -2.22 | -8.70% | ― | -92.63% | -8.33% | |
44 Neutral | AU$5.98M | -1.14 | -481.65% | ― | ― | -18.92% | |
43 Neutral | AU$6.24M | -1.32 | -24.29% | ― | -100.00% | 75.20% | |
43 Neutral | AU$6.75M | -0.55 | -55.47% | ― | ― | ― | |
41 Neutral | AU$5.47M | -1.51 | -85.63% | ― | ― | 48.31% |
* Energy Sector Average
AU:QEM
QEM Limited
0.02
>-0.01
-28.57%
AU:PV1
Provaris Energy Ltd
0.01
>-0.01
-37.50%
AU:XST
Xstate Resources Limited
0.01
>-0.01
-38.10%
AU:SHE
Stonehorse Energy Ltd
0.01
<0.01
10.00%
AU:PGY
Pilot Energy Limited
0.05
-0.04
-44.33%
AU:HE8
Helios Energy Ltd
0.01
0.00
0.00%
QEM Limited Corporate Events
QEM Sets Date and Nomination Deadline for 2026 AGM
Oct 2, 2026
QEM Limited has scheduled its 2026 Annual General Meeting for 10:00am AEST on 25 November 2026 in Brisbane, in line with its constitution and ASX listing requirements. The meeting will provide shareholders an opportunity to engage with the board a...
QEM Files Updated Corporate Governance Statement and Appendix 4G
Sep 28, 2026
QEM Limited has lodged its updated corporate governance statement for the year ended 30 June 2026, confirming that the document is current as of 28 September 2026 and approved by the board. The company has provided the governance statement via its...
QEM Outlines Streamlined Governance Framework in 2026 Corporate Governance Statement
Sep 28, 2026
QEM Limited has released its corporate governance statement for the year ending 30 June 2026, outlining how it applies the ASX Corporate Governance Council’s fourth-edition principles and recommendations. The board confirms that it has adopt...
QEM boosts director equity with new share-based remuneration
Sep 23, 2026
QEM Limited has disclosed a change in director Robert Cooper’s holdings, noting that he has been issued additional ordinary shares as part of his remuneration package. The issuance follows shareholder approval and is structured as equity-bas...
QEM Issues 2.3 Million New Shares Under Section 708A Exemption
Sep 23, 2026
QEM Limited has issued 2,297,500 new ordinary shares, as disclosed in a notice to the ASX under section 708A(5)(e) of the Corporations Act 2001. The shares were issued without a prospectus under the Act’s disclosure exemptions, indicating th...
QEM Issues 34.6 Million Unquoted Options to Adjust Capital Structure
Sep 23, 2026
QEM Limited has notified the market of the issuance of 34,599,999 unquoted options, each exercisable at $0.08 and expiring on 23 September 2029. The options, which form part of a previously announced transaction, will not be quoted on the ASX and ...
QEM Seeks ASX Quotation for Director Remuneration Shares
Sep 23, 2026
QEM Limited has applied to the ASX for quotation of 1,000,000 new ordinary fully paid shares, to be issued on 23 September 2026. The shares are being issued to a company director as part of his remuneration package, following prior approval from s...
QEM Seeks ASX Quotation for 1.3 Million New Shares
Sep 23, 2026
QEM Limited has applied to the Australian Securities Exchange for quotation of 1,297,500 new ordinary fully paid shares, with an issue date of 23 September 2026. The application, lodged as a new announcement under Appendix 2A of the ASX Listing Ru...
QEM Shareholders Approve Capital Resolutions at General Meeting
Sep 23, 2026
QEM Limited shareholders have backed a slate of capital-related resolutions at the company’s 23 September general meeting, with all items passed by poll. Investors ratified prior placements of shares and consideration stock and approved new ...
QEM Clarifies Historical Data and Reaffirms Critical Minerals Expansion Plans
Sep 23, 2026
QEM Limited has outlined historical information and exploration context for its Big It Tungsten and Garden Valley Rare Metals Projects, drawing primarily on legacy U.S. and Idaho geological and mining records. The company emphasizes that these his...
QEM Limited Performance Rights Lapse Clarifies Capital Structure
Aug 26, 2026
QEM Limited has announced the cessation of 300,000 QEMAG performance rights after they expired unexercised on 26 August 2026. The lapse of these rights slightly reduces the company’s potential future share dilution and clarifies its capital ...
QEM flags expansion potential at historic Big It tungsten project in Idaho
Aug 25, 2026
QEM Limited has completed a detailed review of historical geological, mining and exploration data for its newly acquired Big It Tungsten Project in northern Idaho, confirming that the site is a past producer of high‑grade tungsten concentrat...
QEM Limited Calls September General Meeting, Streamlines Shareholder Access
Aug 25, 2026
QEM Limited has convened a General Meeting of shareholders to be held in Brisbane on 23 September 2026 at 11:00am AEST, with the business of the meeting expected to affect shareholders’ interests and voting rights. The company has set 7:00pm...
QEM Limited Options Set to Expire Out of the Money
Aug 24, 2026
QEM Limited has announced that 20,769,014 quoted options with an exercise price of $0.14, issued in 2024 as part of an entitlement offer, are scheduled to expire on 30 September 2026. The company notes these options are currently well out of the m...
QEM Issues 5 Million Unquoted Options Under Employee Incentive Scheme
Aug 21, 2026
QEM Limited has issued 5,000,000 unquoted options under an employee incentive scheme, each exercisable at $0.045 and expiring on 21 August 2029. The options, which will not be quoted on the ASX, are designed to support staff retention and alignmen...
QEM Director Daniel Harris Exercises Performance Rights, Boosting Shareholding
Aug 20, 2026
QEM Limited has disclosed a change in director Daniel Harris’s interests, following the exercise of vested performance rights. Harris converted 300,000 performance rights into ordinary shares at no cash consideration, reflecting an adjustmen...
QEM Limited Seeks ASX Quotation for 300,000 New Shares
Aug 20, 2026
QEM Limited has lodged an application with the ASX for the quotation of additional ordinary fully paid shares. The filing confirms that 300,000 new QEM shares will be quoted, effective 20 August 2026, under the company’s existing issuer code...
QEM Issues New Shares Under Section 708A, Confirms Regulatory Compliance
Aug 19, 2026
QEM Limited has issued 7,333,334 new ordinary shares, notifying the market under section 708A(5)(e) of the Corporations Act that the securities were issued without a disclosure document. The company confirmed its ongoing compliance with key financ...
QEM Limited Seeks ASX Quotation for 7.3 Million New Shares
Aug 19, 2026
QEM Limited has lodged a new application with the ASX for quotation of additional ordinary fully paid shares, signaling an expansion of its listed equity capital. The filing, made under the ASX Appendix 2A framework, confirms the company’s i...
QEM completes strategic acquisition of U.S. tungsten and niobium projects
Aug 19, 2026
QEM Limited has completed the acquisition of Freshwater Metals Pty Ltd, securing ownership of the Big It and Columbite critical minerals exploration projects in Idaho, U.S. The Big It Tungsten Project is a historically verified past tungsten produ...
QEM director Robert Cooper lifts shareholding through on‑market trades
Aug 10, 2026
QEM Limited has disclosed a change in director Robert Cooper’s interests in the company’s securities, in line with ASX listing rule 3.19A.2. The notice details updates to his holdings and confirms compliance with relevant corporate gov...
QEM director boosts shareholding via exercise of performance rights
Aug 4, 2026
QEM Limited has reported a change in the shareholding of director Timothy Wall, following the exercise of vested performance rights. The transaction, dated 4 August 2026, resulted in Wall acquiring 550,000 ordinary shares at nil consideration and ...
QEM Limited Seeks ASX Quotation for Additional 550,000 Shares
Aug 4, 2026
QEM Limited has applied for quotation of 550,000 ordinary fully paid shares on the Australian Securities Exchange, with an issue date of 4 August 2026. The new securities arise from the exercise or conversion of existing options or other convertib...
QEM Moves Into U.S. Critical Minerals With Idaho Acquisition
Aug 3, 2026
QEM Limited will proceed with the acquisition of Freshwater Metals, giving it ownership of the Big It and Vaught-Peck Columbite critical minerals projects in Idaho, U.S. The Big It project, a historically verified tungsten producer, and the Vaught...
QEM boosts cash, advances Julia Creek and U.S. critical minerals push
Jul 30, 2026
QEM Limited reported a solid quarter to 30 June 2026, raising $2.62m through a well-supported placement and ending the period with approximately $4.2m in cash. The additional funding strengthens its balance sheet as it advances the Julia Creek Van...
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.