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Terrain Minerals Ltd
(Sydney:TMX)
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Rating:51Neutral
Price Target:―
Action:Reiterated
Date:09/21/26
The score is primarily constrained by weak financial performance driven by a pre-revenue model, ongoing net losses, and persistent cash burn, partially offset by a low-debt, growing-equity balance sheet. Technical and valuation inputs are limited (missing technical indicators; negative P/E and no dividend yield), leading to near-neutral secondary component scores.
Positive Factors
Minimal leverage
Essentially debt-free operations reduce interest and refinancing pressure, preserving financial flexibility while the company develops its business. Low leverage also limits solvency risk and leaves more scope to allocate future capital toward exploration or other growth priorities.
Negative Factors
Pre-revenue business model
With no reported revenue over the full period, the company has not yet demonstrated commercial monetisation or a recurring income stream. This leaves future financial performance dependent on revenue eventually materialising and makes earnings power difficult to establish.
Read all positive and negative factors
Positive Factors
Negative Factors
Minimal leverage
Essentially debt-free operations reduce interest and refinancing pressure, preserving financial flexibility while the company develops its business. Low leverage also limits solvency risk and leaves more scope to allocate future capital toward exploration or other growth priorities.
Read all positive factors
Terrain Minerals Ltd (TMX) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$11.82M
Dividend YieldN/A
Average Volume (3M)N/A
Price to Earnings (P/E)―
Beta (1Y)1.35
Revenue GrowthN/A
EPS Growth55.56%
CountryAU
Employees3
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)<0.01
Shares Outstanding3,940,228,300
10 Day Avg. VolumeN/A
30 Day Avg. VolumeN/A
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)1.50
Price to Sales (P/S)0.00
P/FCF Ratio-10.87
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
Terrain Minerals Ltd Business Overview & Revenue Model
Company Description
Terrain Minerals Limited is an Australian company primarily involved in the exploration and discovery of gold, base metals, and other valuable mineral resources throughout Australia. The firm holds complete ownership of the Wild Viper gold explora...
How the Company Makes Money
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Terrain Minerals Ltd Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
72
Positive
Cash Flow
24
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -1.33K | -472.00 | -13.00 | -1.91K | -11.48K |
| EBITDA | -836.95K | -1.71M | -904.10K | -1.02M | -566.98K |
| Net Income | -1.35M | -1.71M | -1.52M | -1.02M | -578.46K |
Balance Sheet | |||||
| Total Assets | 9.06M | 5.55M | 3.68M | 4.06M | 2.83M |
| Cash, Cash Equivalents and Short-Term Investments | 1.39M | 1.14M | 450.73K | 1.31M | 1.08M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 950.00 |
| Total Liabilities | 869.01K | 566.54K | 158.94K | 489.64K | 65.96K |
| Stockholders Equity | 8.19M | 4.98M | 3.52M | 3.57M | 2.77M |
Cash Flow | |||||
| Free Cash Flow | -1.13M | -974.88K | -2.55M | -1.75M | -724.97K |
| Operating Cash Flow | -1.13M | -974.88K | -682.72K | -475.64K | -466.47K |
| Investing Cash Flow | -2.91M | -1.37M | -1.56M | -1.06M | 409.25K |
| Financing Cash Flow | 4.29M | 3.03M | 1.39M | 1.76M | -2.29K |
Terrain Minerals 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% | |
59 Neutral | AU$13.48M | -2.75 | -130.09% | ― | ― | -41.92% | |
51 Neutral | AU$16.30M | -5.48 | -40.02% | ― | -100.00% | -8.36% | |
51 Neutral | AU$11.82M | -8.22 | -17.81% | ― | ― | 55.56% | |
38 Underperform | AU$20.23M | -7.39 | -14.17% | ― | 3.74% | 4.17% | |
37 Underperform | AU$9.54M | -2.31 | -44.43% | ― | ― | -71.15% | |
36 Underperform | AU$10.03M | -2.16 | -15.81% | ― | ― | -92.31% |
* Basic Materials Sector Average
AU:TMX
Terrain Minerals Ltd
―
―
―
AU:NAG
Nagambie Resources Limited
0.02
<0.01
21.43%
AU:MAG
Magmatic Resources Ltd.
0.02
-0.03
-64.00%
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Metal Bank Limited
0.01
>-0.01
-26.67%
AU:PGD
Peregrine Gold Ltd.
0.16
-0.09
-36.00%
AU:MGA
Metalsgrove Mining Ltd.
0.09
0.03
45.90%
Terrain Minerals Ltd Corporate Events
Terrain Minerals launches $1.6m entitlement offer to fund exploration
Sep 20, 2026
Terrain Minerals Ltd has released a prospectus for a pro-rata non-renounceable entitlement offer to existing shareholders, structured as one new share for every 9.85 shares held at an issue price of $0.004 per share. Each new share will be accompa...
Terrain Minerals Revises Timetable for Pro Rata Securities Issue
Sep 18, 2026
Terrain Minerals Ltd, an ASX-listed resources company trading under the code TMX, operates in the mining and exploration sector and relies on capital raisings through listed securities to support its mineral projects. The company uses structured p...
Terrain Minerals Plans Issue of 20 Million Options for Capital Raising
Sep 18, 2026
Terrain Minerals Ltd has lodged a proposal with the ASX to issue up to 20 million options as part of a placement or similar capital raising initiative. The options, carrying an exercise price of $0.005 and expiring on 17 June 2027, are expected to...
Terrain Minerals releases 2026 annual financial report
Sep 17, 2026
Terrain Minerals Ltd has released its annual financial report for the year ended 30 June 2026, outlining the company’s financial performance, position and cash flows, together with detailed notes to the accounts. The report also includes dir...
Terrain Minerals Issues 228.5 Million Unlisted Options in Capital Management Move
Sep 17, 2026
Terrain Minerals Ltd has issued 228,500,000 unlisted options with an exercise price of $0.006 and expiry on 23 October 2029, under a previously announced transaction. The options are unquoted and not intended to be listed on the ASX, indicating a ...
Terrain Minerals Confirms Lightning Gold Suits Conventional Processing
Sep 15, 2026
Terrain Minerals has reported first metallurgical testwork results from its Lightning Gold Project within the Smokebush Project in Western Australia, indicating the ore is amenable to conventional gravity and carbon‑in‑leach processing...
Terrain Minerals Launches Major Pro Rata Issue of Shares and Options
Sep 8, 2026
Terrain Minerals Ltd has announced a non-renounceable pro rata offer that will see up to 400,023,165 new ordinary shares and an equal number of unlisted options issued to eligible shareholders. The options will have an exercise price of $0.006 and...
Terrain Minerals Plans Major Share and Option Placement on ASX
Sep 8, 2026
Terrain Minerals Ltd has notified the ASX of a proposed placement involving a substantial issuance of new securities. The company plans to issue up to 228,500,000 ordinary fully paid shares, alongside an equal number of unlisted options, each with...
Terrain Minerals secures premium placement and rights issue to fund major Lightning drilling push
Sep 8, 2026
Terrain Minerals has secured firm commitments for a $1.0 million strategic placement from major investor Gandel Metals at a 33% premium to market, alongside a non-renounceable rights issue aimed at raising a further $1.6 million on identical terms...
Terrain Minerals Seeks Trading Halt Ahead of Capital Raising Announcement
Sep 6, 2026
Terrain Minerals Limited has requested a trading halt for its securities on the Australian Securities Exchange, effective from 7 September 2026. The halt will remain in place until either the start of normal trading on 9 September 2026 or the rele...
Terrain Minerals posts strong rare-earth recoveries at Larin’s Lane
Sep 1, 2026
Terrain Minerals has reported strong first-stage metallurgical leaching results from its Larin’s Lane clay-hosted rare earth prospect in Western Australia, achieved through test work by Curtin University’s C3MET group under a state-bac...
Terrain Minerals advances Smokebush gold-silver project with new high-priority targets
Aug 23, 2026
Terrain Minerals is highlighting its Smokebush Lightning Project in Western Australia, where it is advancing high-grade gold and silver exploration supported by a maiden Mineral Resource Estimate released in late July 2026. The company also mainta...
Terrain Minerals Showcases Smokebush Maiden Resource at Diggers & Dealers
Aug 2, 2026
Terrain Minerals Ltd is an Australian mineral exploration company focused on advancing gold and silver projects, particularly the Smokebush project in Western Australia, while also holding interests in critical minerals including gallium, copper, ...
Terrain Minerals Director Increases Stake with On-Market Share Purchase
Jul 12, 2026
Terrain Minerals Ltd has disclosed a change in director Justin Virgin’s relevant interests, confirming the on-market purchase of an additional 5 million fully paid ordinary shares at $0.003 each. Following this transaction, Virgin and his re...
Terrain Minerals Uncovers High-Grade Rare Earth System at Lort River
Jun 30, 2026
Terrain Minerals has reported strong assay results from a 35-hole air core drilling program at its Lort River rare earths project near Esperance, confirming a broad clay-hosted system with total rare earth oxide values above 200ppm in 25 holes. Th...
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.