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Surefire Resources NL (SRN) AI Stock Analysis

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AU:SRN

Surefire Resources NL

(ASX:SRN)

Select Model
Rating:45Neutral
Price Target:AUD 0.02â–²(0.00% Upside)
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
Very Low LeverageVery low leverage gives Surefire greater balance-sheet flexibility than a highly indebted explorer. Limited debt reduces interest and refinancing pressure, helping preserve strategic options while the company evaluates projects and seeks pathways toward development or monetisation.
Negative Factors
No Current RevenueZero annual revenue leaves Surefire without operating scale to absorb its cost base and makes near-term financial performance dependent on funding and project progress. Without recurring revenue, the company has limited internal capacity to finance exploration and advance assets.

Surefire Resources NL (SRN) vs. iShares MSCI Australia ETF (EWA)

-60%-40%-20%0%20%40%AU:SRN-44.44%EWA+17.02%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
AUD 3.39M
Dividend Yield
―
Average Volume (3M)
254.12K
Price to Earnings (P/E)
-1.3
Beta (1Y)
0.05
Revenue Growth
―
EPS Growth
-37.80%
Country
Australia
Employees
2
Sector
Basic Materials
Sector Strength
61
Industry
Industrial Materials

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 gol...

Surefire Resources NL Financial Statement Overview

Summary

Financials are weak overall: the income statement shows persistent losses with revenue falling to zero in 2026, and cash flow remains negative with ongoing operating cash burn and negative free cash flow. The main offset is a comparatively stronger balance sheet with very low leverage, but continued losses and cash outflows increase funding risk.

Income Statement

18Very Negative

Balance Sheet

62Positive

Cash Flow

24Negative
Financial statement breakdown
BreakdownTTMJun 2026Jun 2025Jun 2024Jun 2023Jun 2022
Income Statement
Total Revenue00439.32K653.47K147.24K694
Gross Profit0-8,182439.32K653.47K-36.52K-34.40K
EBITDA-2.13M-2.17M-2.49M-3.06M-3.54M-2.43M
Net Income-2.07M-2.07M-694.29K-3.07M-3.58M-2.46M
Balance Sheet
Total Assets13.67M13.67M13.17M14.48M5.54M5.26M
Cash, Cash Equivalents and Short-Term Investments696.30K696.30K312.83K1.49M1.49M5.07M
Total Debt190.50K190.50K43.72K115.76K184.30K43.39K
Total Liabilities6.97M6.97M10.04M12.33M4.01M574.70K
Stockholders Equity6.70M6.70M3.14M2.15M1.53M4.69M
Cash Flow
Free Cash Flow-1.44M-1.30M-2.20M-3.12M-3.55M-2.34M
Operating Cash Flow-1.30M-1.30M-1.39M-1.68M-1.56M-1.07M
Investing Cash Flow-597.43K-597.43K-809.68K-1.52M-2.45M-1.30M
Financing Cash Flow2.28M2.28M1.03M3.19M420.73K4.09M

Surefire Resources NL Peers Comparison

Overall Rating

UnderperformOutperform
Sector (61)

Financial Indicators

AU:SRN against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
Sector *61Neutral$10.43B7.12-0.05%2.87%2.86%-36.73%
AU:DTMAU:DTM45NeutralAUD 3.34M-0.55-24.07%――93.84%
AU:SBRAU:SBR45NeutralAUD 4.57M-1.39-13.01%――-158.82%
AU:SRNAU:SRN45NeutralAUD 3.39M-1.31-37.96%――-37.80%
AU:PBLAU:PBL43NeutralAUD 3.12M-7.25-18.57%――71.13%
AU:SLZAU:SLZ43NeutralAUD 5.85M-2.42-26.87%――86.13%
AU:PR2AU:PR238UnderperformAUD 7.62M-0.59-184.07%――9.34%

* Basic Materials Sector Average

Performance Comparison

-50%0%50%100%AU:SRNAU:DTMAU:PBLAU:SLZAU:SBRAU:PR2Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
AU:SRN and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
AU:SRNSurefire Resources NL0.01-0.01-44.44%
AU:DTMDart Mining NL0.01-0.03-74.36%
AU:PBLParabellum Resources Ltd.0.05-0.03-36.71%
AU:SLZSultan Resources Ltd.0.010.0010.00%
AU:SBRSabre Resources Ltd0.010.000.00%
AU:PR2Piche Resources Limited0.02-0.10-81.82%

Surefire Resources NL Corporate Events

Surefire Resources Director Takes Up 32 Million Options

Nov 9, 2026

Surefire Resources director Vladimir Nikolaenko acquired 32,036,009 options through a non-renounceable rights issue for $32,036, increasing his indirect exposure to the company’s equity. Following the transaction, his associated entities held 64,072,...

Surefire Resources Reports Rights Issue Allotments

Nov 5, 2026

Surefire Resources NL reported that shareholders applied for 44,245,660 new options under its non-renounceable rights issue. The options are exercisable at $0.05 each through 30 June 2029, while eligible shareholders also received 4,472,953 additiona...

Surefire Resources Tightens Capital Management as Yidby Gold Exploration Advances

Oct 30, 2026

Surefire Resources NL, a Western Australian gold exploration company, continues to advance its 100% owned Yidby Gold Project in the state’s mid-west, using detailed geophysical and geochemical analysis to prioritise drilling and refine regional prosp...

ASX Suspends Surefire Resources’ SRNO Class Pending Compliance Review

Oct 29, 2026

The Australian Securities Exchange has suspended quotation of Surefire Resources NL’s SRNO security class, acting under Listing Rule 17.3.4 while the company works to meet the requirements of Listing Rule 2.5. The suspension is limited to SRNO and do...

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 to 1...

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 the...

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 registered...

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 proc...

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’s l...

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 secu...

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 the...

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 confir...

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 sh...

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 becam...

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 for 1...

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 pa...

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 on...

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 Oct...

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$0.05...

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 the...

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 on t...

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 consolidated financia...

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.

Date of analysis: Oct 06, 2026