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QMines Ltd.
(Sydney:QML)
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Rating:50Neutral
Price Target:
AU$0.08
â–²(28.33% Upside)
Action:Reiterated
Date:10/01/26
The score is held back primarily by weak financial performance—persistent losses, inconsistent/very small revenue, and accelerating cash burn—despite a relatively better balance sheet with moderate leverage. Technicals are a meaningful offset, showing an established uptrend with positive momentum indicators. Valuation remains unattractive/unclear due to negative earnings and no dividend yield data.
Positive Factors
Moderate Leverage
A moderate debt-to-equity level gives QMines greater financial flexibility than a highly leveraged explorer. With equity exceeding debt, the company has some capacity to fund project work and absorb operational volatility without excessive dependence on debt servicing.
Negative Factors
Minimal Revenue
Minimal and inconsistent revenue, including a reported zero in 2026, shows that QMines has not yet established a dependable operating revenue base. This limits internal funding capacity and leaves financial results highly dependent on future project progress rather than current operations.
Read all positive and negative factors
Positive Factors
Negative Factors
Moderate Leverage
A moderate debt-to-equity level gives QMines greater financial flexibility than a highly leveraged explorer. With equity exceeding debt, the company has some capacity to fund project work and absorb operational volatility without excessive dependence on debt servicing.
Read all positive factors
QMines Ltd. (QML) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$61.76M
Dividend YieldN/A
Average Volume (3M)2.04M
Price to Earnings (P/E)―
Beta (1Y)0.42
Revenue GrowthN/A
EPS Growth11.90%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryCopper
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding771,991,460
10 Day Avg. Volume2,513,833
30 Day Avg. Volume2,035,889
Financial Highlights & Ratios
PEG Ratio0.61
Price to Book (P/B)0.86
Price to Sales (P/S)0.00
P/FCF Ratio-3.02
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
QMines Ltd. Business Overview & Revenue Model
Company Description
QMines Limited is an Australian enterprise dedicated to the exploration and development of copper and gold resources. Its principal asset is the Mount Chalmers copper and gold mine, an extensive property of approximately 316 square kilometers loca...
How the Company Makes Money
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QMines Ltd. Financial Statement Overview
Summary
Income Statement
9
Very Negative
Balance Sheet
58
Neutral
Cash Flow
18
Very Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 88.23K | 178.21K | 22.17K | 0.00 |
| Gross Profit | -36.66K | 88.23K | 178.21K | 22.17K | -234.62K |
| EBITDA | -4.07M | -2.72M | -2.88M | -5.66M | -2.93M |
| Net Income | -4.43M | -2.94M | -3.37M | -5.70M | -3.17M |
Balance Sheet | |||||
| Total Assets | 48.55M | 27.91M | 21.49M | 16.39M | 12.79M |
| Cash, Cash Equivalents and Short-Term Investments | 14.25M | 3.50M | 607.79K | 2.29M | 1.03M |
| Total Debt | 10.00M | 1.74M | 1.36M | 0.00 | 0.00 |
| Total Liabilities | 11.10M | 2.61M | 3.41M | 455.11K | 386.80K |
| Stockholders Equity | 37.45M | 25.30M | 18.08M | 15.94M | 12.40M |
Cash Flow | |||||
| Free Cash Flow | -10.73M | -6.19M | -6.07M | -4.65M | -8.01M |
| Operating Cash Flow | -9.21M | -4.46M | -4.57M | -4.49M | -4.88M |
| Investing Cash Flow | -2.41M | -1.81M | -1.49M | -169.09K | -3.13M |
| Financing Cash Flow | 22.37M | 9.18M | 4.37M | 5.91M | 0.00 |
QMines Ltd. Technical Analysis
Positive
0.06
Price Trends
0.06
Positive
0.06
Positive
0.06
Positive
Market Momentum
<0.01
Negative
65.41
Neutral
81.85
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:QML, the sentiment is Positive. The current price of 0.06 is below the 20-day moving average (MA) of 0.07, below the 50-day MA of 0.06, and above the 200-day MA of 0.06, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 65.41 is Neutral, neither overbought nor oversold. The STOCH value of 81.85 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:QML.
QMines 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% | |
56 Neutral | AU$77.67M | -36.25 | -6.90% | 1.97% | ― | 27.27% | |
50 Neutral | AU$61.76M | -10.27 | -12.51% | ― | ― | 11.90% | |
46 Neutral | AU$32.99M | -5.50 | -26.87% | ― | ― | 63.64% | |
46 Neutral | AU$45.87M | -6.28 | -17.12% | ― | ― | -15.95% | |
42 Neutral | AU$31.85M | -45.00 | -25.64% | ― | ― | -30.00% | |
39 Underperform | AU$25.55M | -1.68 | -52.88% | ― | ― | ― |
* Basic Materials Sector Average
AU:QML
QMines Ltd.
0.08
0.02
30.51%
AU:ODE
Odessa Minerals Limited
0.02
<0.01
38.46%
AU:HMX
Hammer Metals Limited
0.09
0.04
107.14%
AU:RIM
Rimfire Pacific Mining Limited
0.01
>-0.01
-42.11%
AU:FEG
Far East Gold Ltd
0.12
-0.03
-17.86%
AU:LKY
Locksley Resources Limited
0.06
-0.44
-87.40%
QMines Ltd. Corporate Events
QMines lodges ASX governance disclosures and confirms compliance
Sep 30, 2026
QMines Limited has lodged its Appendix 4G and confirmed that its corporate governance statement for the year ended 30 June 2026 is available on its website and current as of 30 September 2026. The filing indicates the board has approved the statem...
QMines publishes audited 2026 annual report for investors
Sep 30, 2026
QMines Ltd. has released its 2026 Annual Report for the year ended 30 June 2026, outlining the company’s financial performance, governance framework and shareholder information. The report includes the directors’ report, audited financ...
QMines unlocks Botos deposit with strategic Mt Chalmers land deal
Sep 17, 2026
QMines has agreed to acquire two strategic freehold properties over the Mt Chalmers mine lease application and adjacent Botos deposit for $2.388 million, significantly improving land access to the under-drilled Botos prospect. The move removes his...
QMines Options Lapse, Trimming Potential Future Dilution
Sep 15, 2026
QMines Limited has notified the market of a change in its issued capital, following the expiry of a class of listed options without being exercised. The company reported that 500,000 QMLAJ options, with an exercise price of $0.375 and an expiry da...
QMines appoints BurnVoir to finance Mt Chalmers copper-gold development
Sep 10, 2026
QMines Limited has appointed BurnVoir Corporate Finance as financial adviser to arrange development financing for its Mt Chalmers Copper-Gold Project in Central Queensland. BurnVoir, which has a strong track record with Australian mining companies...
QMines Deepens Government Engagement as Mt Chalmers Restart Advances
Sep 1, 2026
QMines hosted representatives from multiple Queensland Government departments and the Livingstone Shire Council at its Mt Chalmers Copper and Gold Project for a site familiarisation visit. Officials were joined by QMines’ management and cons...
QMines Extends High-Grade Copper and Gold Mineralisation at Mt Chalmers
Aug 31, 2026
QMines has reported new assay results from two additional drill holes at its Mt Chalmers project, confirming broad high-grade copper and gold mineralisation at depth alongside a shallow polymetallic lens. The deeper hole returned one of the widest...
QMines Reaffirms JORC-Compliant Resources Across Key Australian Projects
Aug 25, 2026
QMines has released an updated presentation detailing its exploration and resource work at the Mt Chalmers, Develin Creek and Mt Mackenzie projects in Australia. The company confirms that prior resource announcements for Mt Chalmers and Develin Cr...
Government Support Builds as QMines Accelerates Mt Chalmers Copper Project
Aug 18, 2026
Queensland’s Resources Minister, Dale Last, visited QMines’ Mt Chalmers copper and gold project, underlining increasing government recognition of its strategic importance. The delegation, which included local MPs and senior departmenta...
QMines hits higher-grade copper-gold zones at Mt Chalmers DFS drilling
Aug 17, 2026
QMines has reported new assay results from two diamond drill holes at its Mt Chalmers copper-gold project in Central Queensland, highlighting significantly higher grades than its existing mineral resource model. The drilling forms part of metallur...
QMines boosts Mount Mackenzie gold resource and confidence
Aug 5, 2026
QMines has announced an updated mineral resource estimate for its Mount Mackenzie project, lifting total resources to 5.22 million tonnes grading 1.01 grams per tonne gold and 6.7 grams per tonne silver, for 170,000 ounces of gold and 1.12 million...
QMines Reaffirms JORC-Compliant Resources Across Key Projects
Aug 4, 2026
QMines has reiterated that its mineral resource estimates for the Mt Chalmers, Develin Creek and Mt Mackenzie projects remain valid and unchanged, with no new information identified that would materially affect previously reported figures. The com...
QMines Launches Under-Pit Drilling to Grow Mt Chalmers Copper-Gold Resources
Jul 31, 2026
QMines Ltd. has begun diamond drilling beneath the historic, flooded Mt Chalmers open pit using a purpose-built floating platform, overcoming longstanding access constraints. The program is designed to test down-plunge extensions where mineralisat...
QMines Secures Funding and Accelerates Mt Chalmers DFS as Mount Mackenzie Drilling Wraps Up
Jul 30, 2026
QMines reported a busy June quarter marked by a $15 million strategic funding package from the QIC Critical Minerals and Battery Technology Fund, fully financing the Definitive Feasibility Study at its flagship Mt Chalmers Copper Gold Project. The...
QMines Launches Major 10,000m Drill Program at Mt Chalmers to Boost Copper-Gold Resource and Advance DFS
Jul 22, 2026
QMines has begun the largest drilling campaign in its history, a 10,000m multi-rig program at the Mt Chalmers copper-gold project in Queensland, with initial high-grade intercepts reported including 18m at 2.7g/t gold and 1.7% copper. The program ...
QMines Clears 2.25 Million Expired Performance Rights From Capital Structure
Jul 14, 2026
QMines Ltd. has reported the lapse of 2,250,000 performance rights listed as QMLAG on the ASX, following their expiry on 29 June 2026 without being exercised or converted. The cessation of these securities slightly reduces the company’s pool...
QMines Showcases Mt Chalmers Progress to Queensland Government and QIC
Jul 5, 2026
QMines has hosted a senior delegation from the Queensland Government and Queensland Investment Corporation at its flagship Mt Chalmers copper and gold project to showcase progress on redeveloping the historic mine. The visit included a site tour o...
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.