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Surefire Resources NL
(Sydney:SRN)
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Rating:45Neutral
Price Target:
AU$0.02
▼(-25.00% Downside)
Action:Upgraded
Date:10/06/26
The score is primarily held down by weak financial performance—zero revenue in 2026, persistent losses, and ongoing cash burn—despite a relatively low-debt balance sheet. Technical indicators are mixed but lean weak, and valuation remains unattractive due to negative earnings and no dividend data.
Positive Factors
Low Financial Leverage
Very low leverage reduces the burden of mandatory financing costs and preserves balance-sheet flexibility. This gives Surefire more capacity to fund exploration, manage periods without revenue, and pursue project opportunities without the immediate constraints associated with heavy debt.
Negative Factors
No Current Revenue Scale
Zero annual revenue leaves the company without operating scale to absorb its cost base or internally fund exploration. This makes financial progress dependent on future project outcomes, transactions, or external funding rather than established commercial operations.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Financial Leverage
Very low leverage reduces the burden of mandatory financing costs and preserves balance-sheet flexibility. This gives Surefire more capacity to fund exploration, manage periods without revenue, and pursue project opportunities without the immediate constraints associated with heavy debt.
Read all positive factors
Surefire Resources NL (SRN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$3.62M
Dividend YieldN/A
Average Volume (3M)243.31K
Price to Earnings (P/E)―
Beta (1Y)-0.16
Revenue GrowthN/A
EPS Growth-37.80%
CountryAU
Employees2
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.01
Shares Outstanding226,186,770
10 Day Avg. Volume182,994
30 Day Avg. Volume243,306
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)0.49
Price to Sales (P/S)0.00
P/FCF Ratio-2.55
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
Surefire Resources NL Business Overview & Revenue Model
Company Description
Based in South Perth, Australia, Surefire Resources NL, established in 1998, focuses on the exploration and evaluation of mineral tenements across Western Australia. The company actively seeks deposits containing a variety of resources, including ...
Surefire Resources NL Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
24
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 439.32K | 653.47K | 147.24K | 694.00 |
| Gross Profit | -8.18K | 439.32K | 653.47K | -36.52K | -34.40K |
| EBITDA | -2.17M | -2.49M | -3.06M | -3.54M | -2.43M |
| Net Income | -2.07M | -694.29K | -3.07M | -3.58M | -2.46M |
Balance Sheet | |||||
| Total Assets | 13.67M | 13.17M | 14.48M | 5.54M | 5.26M |
| Cash, Cash Equivalents and Short-Term Investments | 696.30K | 312.83K | 1.49M | 1.49M | 5.07M |
| Total Debt | 190.50K | 43.72K | 115.76K | 184.30K | 43.39K |
| Total Liabilities | 6.97M | 10.04M | 12.33M | 4.01M | 574.70K |
| Stockholders Equity | 6.70M | 3.14M | 2.15M | 1.53M | 4.69M |
Cash Flow | |||||
| Free Cash Flow | -1.30M | -2.20M | -3.12M | -3.55M | -2.34M |
| Operating Cash Flow | -1.30M | -1.39M | -1.68M | -1.56M | -1.07M |
| Investing Cash Flow | -597.43K | -809.68K | -1.52M | -2.45M | -1.30M |
| Financing Cash Flow | 2.28M | 1.03M | 3.19M | 420.73K | 4.09M |
Surefire Resources 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% | |
45 Neutral | AU$3.62M | -1.49 | -37.96% | ― | ― | -37.80% | |
45 Neutral | AU$3.34M | -0.55 | -24.07% | ― | ― | 93.84% | |
45 Neutral | AU$6.40M | -1.94 | -13.01% | ― | ― | -158.82% | |
43 Neutral | AU$3.12M | -7.25 | -18.57% | ― | ― | 71.13% | |
43 Neutral | AU$5.85M | -2.12 | -26.87% | ― | ― | 86.13% | |
42 Neutral | AU$9.35M | -0.73 | -184.07% | ― | ― | 9.34% |
* Basic Materials Sector Average
AU:SRN
Surefire Resources NL
0.02
-0.01
-40.74%
AU:DTM
Dart Mining NL
0.01
-0.06
-84.62%
AU:PBL
Parabellum Resources Ltd.
0.05
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-56.52%
AU:SLZ
Sultan Resources Ltd.
0.01
<0.01
10.00%
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Sabre Resources Ltd
0.01
0.00
0.00%
AU:PR2
Piche Resources Limited
0.03
-0.09
-77.69%
Surefire Resources NL Corporate Events
Surefire Resources Completes First Tranche of Share Placement
Oct 21, 2026
Surefire Resources NL has completed the first tranche of a share placement, issuing 45,000,000 fully paid ordinary shares under its existing ASX Listing Rule placement capacity without requiring prior shareholder approval. A second tranche of up t...
Surefire Limits A$90,500 Entitlement Offer to Australia and New Zealand Holders
Oct 20, 2026
Surefire Resources NL has launched a pro-rata non-renounceable entitlement offer of one new option for every two shares held by eligible shareholders, priced at A$0.001 per option to raise up to A$90,500. The offer applies only to shareholders on ...
Surefire Resources Launches Non-Renounceable Entitlement Option Offer
Oct 20, 2026
Surefire Resources NL has initiated a non-renounceable pro-rata entitlement offer, providing eligible shareholders with one new option for every two shares held as at the 15 October 2026 record date. The offer is open to shareholders with register...
Surefire Resources Calls 2026 Annual General Meeting
Oct 19, 2026
Surefire Resources NL has released a formal notice convening its Annual General Meeting for shareholders. The meeting is scheduled to take place on Wednesday 18 November 2026 at 10:00am in West Perth, Western Australia.The announcement is purely p...
Surefire Resources Seeks Quotation for 45 Million New Shares on ASX
Oct 19, 2026
Surefire Resources NL has applied for quotation of 45,000,000 ordinary fully paid shares on the Australian Securities Exchange, with an issue date of 16 October 2026. The new securities, lodged under an Appendix 2A application, expand the company&...
Surefire Resources Plans Large Pro Rata Options Issue to Bolster Capital Base
Oct 9, 2026
Surefire Resources NL is an ASX-listed mining and exploration company that leverages equity market transactions to support the development of its resource projects. Its activities are geared towards building a stronger asset portfolio by issuing s...
Surefire Resources launches highly speculative options offer to existing shareholders
Oct 9, 2026
Surefire Resources NL has released a transaction-specific prospectus dated 9 October 2026 for an offer of new options to its existing shareholders and certain invited recipients. The document has been lodged with ASIC, and the company notes that t...
Surefire Resources Clarifies Capital Structure with Conversion and Forfeiture of Partly Paid Shares
Oct 8, 2026
Surefire Resources NL has converted 7,550 unquoted partly paid shares into ordinary fully paid shares following a first and final call of $0.675 per security, while the remaining unpaid shares in that class have been forfeited. The company has con...
Surefire Resources Director Forfeits Partly Paid Shares After Unpaid Call
Oct 8, 2026
Surefire Resources NL has disclosed a change in the interests of director Vladimir Nikolaenko, who holds his stake indirectly through several private entities. The filing details adjustments to his mix of fully paid shares, options and partly paid...
Surefire Resources Tightens Capital Structure as Partly Paid Shares Lapse
Oct 7, 2026
Surefire Resources NL has announced the cessation of 7,543,879 ordinary partly paid shares, identified under ASX code SRNAK, following the lapse of conditional rights attached to these securities. The conditions for these rights were not met or be...
Surefire Plans Issue of 31 Million Options to Bolster Capital Flexibility
Oct 4, 2026
Surefire Resources NL has lodged an Appendix 3B outlining a proposed issue of up to 31 million options to acquire fully paid ordinary shares. The securities are to be issued via a placement or similar structure, with the proposed issue date set fo...
Surefire Resources Plans Major Share and Option Issue
Oct 4, 2026
Surefire Resources NL has lodged an Appendix 3B with the ASX outlining a proposed capital raising through the issue of new securities. The company plans to issue up to 100 million ordinary fully paid shares and 100 million options to acquire fully...
Surefire Resources Plans Issue of 45 Million New Share Options
Oct 4, 2026
Surefire Resources NL has lodged a notice of a proposed securities issue with the ASX, outlining plans to issue up to 45 million options to acquire fully paid ordinary shares. The options, forming a new class of securities, are scheduled for issue...
Surefire Resources Plans Placement of 45 Million New Shares
Oct 4, 2026
Surefire Resources NL has notified the ASX of a proposed capital raising via an issue of up to 45 million ordinary fully paid shares. The new securities, to be issued as part of a placement or other form of issue, are scheduled for issuance on 16 ...
Surefire Resources launches A$2.7m equity raising to advance WA gold projects
Oct 4, 2026
Surefire Resources NL has launched a capital raising of up to A$2.61 million via a share placement to sophisticated and professional investors, issuing up to 145 million new shares at A$0.018 each with one free attaching option exercisable at A$0....
Surefire Resources Requests Trading Halt Ahead of Capital Raising Plan
Oct 1, 2026
Surefire Resources NL has requested and been granted a trading halt in its securities on the ASX, effective immediately, to facilitate an orderly market. The halt will remain in place until the earlier of the start of trading on 5 October 2026 or ...
Surefire Resources Updates ASX Corporate Governance Disclosures
Sep 30, 2026
Surefire Resources NL has lodged its updated corporate governance statement for the year ended 30 June 2026, confirming compliance with key ASX Corporate Governance Council recommendations. The statement, approved by the board and made available o...
Surefire Resources Releases 2026 Annual Report
Sep 30, 2026
Surefire Resources NL has released its annual report for the year ended 30 June 2026, detailing its corporate directory, chairman’s letter and review of operations, and directors’ report. The document also presents comprehensive consol...
Surefire Resources Launches On-Market Share Buy-Back
Aug 14, 2026
Surefire Resources NL has notified the market of an on-market share buy-back of its ordinary fully paid securities listed on the ASX under code SRN. The move signals a capital management initiative that may reflect management’s confidence in...
Surefire Resources Launches $345k On-Market Share Buy-Back
Aug 14, 2026
Surefire Resources NL has announced an on-market share buy-back program of up to 15 million ordinary shares, representing about 8.3% of its issued capital and equating to an estimated cash outlay of approximately $345,000. The board argues that th...
Surefire’s Victory Bore Project Gains Strategic Critical Minerals Status in Western Australia
Aug 12, 2026
Western Australia has recognised Surefire Resources NL’s Victory Bore Vanadium Project as a standout critical minerals opportunity, shortlisting it for inclusion in the state’s Critical Minerals Prospectus. This status aligns the proje...
Surefire director Roger Smith increases shareholding via on-market purchase
Aug 10, 2026
Surefire Resources NL has disclosed a minor on-market purchase of additional shares by director Roger Smith, as required under ASX listing rules governing director interests. Smith increased his direct and indirect holding by 7,334 fully paid ordi...
Surefire Resources flags new Yidby gold discovery and Victory Bore testwork deal
Jul 29, 2026
Surefire Resources NL is an Australian mineral explorer concentrating on gold, copper, iron and critical minerals, with principal projects at Yidby, Victory Bore, Unaly Hill, Perenjori and Kadji. Yidby is a core asset for the company, particularly...
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.