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E2 Metals Ltd.
(Sydney:USL)
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Rating:46Neutral
Price Target:
AU$0.57
â–Ľ(-33.95% Downside)
Action:Reiterated
Date:09/30/26
Overall score is held back primarily by inconsistent revenue, sustained losses, and ongoing cash burn. Technical indicators also point to weak momentum with the price below key moving averages. The balance sheet’s low debt load provides some support, but valuation remains unattractive given negative earnings and no dividend data.
Positive Factors
Debt-free balance sheet
A debt-free balance sheet reduces interest obligations, refinancing exposure, and solvency pressure while the company advances its exploration portfolio. This gives management greater flexibility to allocate available capital toward projects and helps limit downside from financial leverage during periods of operating weakness.
Negative Factors
Revenue interruption
The shift from meaningful revenue in 2025 to zero in the latest trailing period demonstrates that revenue generation is highly inconsistent. This weakens visibility into the company’s ability to fund activities through operations and makes future progress more dependent on project outcomes or external capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
A debt-free balance sheet reduces interest obligations, refinancing exposure, and solvency pressure while the company advances its exploration portfolio. This gives management greater flexibility to allocate available capital toward projects and helps limit downside from financial leverage during periods of operating weakness.
Read all positive factors
E2 Metals Ltd. (USL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$418.33M
Dividend YieldN/A
Average Volume (3M)2.93M
Price to Earnings (P/E)―
Beta (1Y)2.53
Revenue GrowthN/A
EPS Growth82.35%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustrySilver
Share Statistics
EPS (TTM)-0.01
Shares Outstanding721,254,100
10 Day Avg. Volume2,437,197
30 Day Avg. Volume2,925,730
Financial Highlights & Ratios
PEG Ratio0.63
Price to Book (P/B)2.09
Price to Sales (P/S)0.00
P/FCF Ratio-137.90
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$1.70Price Target Upside97.67% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.01
Revenue Forecast (FY)N/A
E2 Metals Ltd. Business Overview & Revenue Model
Company Description
Unico Silver Limited primarily focuses on the exploration and evaluation of mineral resources, particularly gold, silver, and copper deposits, across both Australia and Argentina. A significant asset for the company is the Santa Cruz project, a va...
E2 Metals Ltd. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
22
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 2.75M | 950.76K | 61.47K | 0.00 |
| Gross Profit | -41.59K | 2.75M | -83.64K | 1.06K | -69.57K |
| EBITDA | -6.73M | -23.75M | -2.95M | -17.69M | -10.11M |
| Net Income | -6.01M | -24.00M | -2.83M | -17.69M | -8.93M |
Balance Sheet | |||||
| Total Assets | 156.44M | 15.02M | 6.72M | 10.45M | 11.18M |
| Cash, Cash Equivalents and Short-Term Investments | 55.07M | 12.50M | 5.05M | 8.53M | 10.68M |
| Total Debt | 0.00 | 0.00 | 0.00 | 171.23K | 205.19K |
| Total Liabilities | 2.25M | 4.26M | 2.66M | 3.78M | 633.97K |
| Stockholders Equity | 154.19M | 10.76M | 4.06M | 10.04M | 13.66M |
Cash Flow | |||||
| Free Cash Flow | -2.34M | -17.38M | -2.58M | -2.41M | -13.63M |
| Operating Cash Flow | -2.31M | -17.29M | -2.58M | -5.07M | -13.63M |
| Investing Cash Flow | -34.35M | -3.71M | -867.05K | -2.66M | 5.28M |
| Financing Cash Flow | 79.26M | 28.44M | -30.50K | 5.61M | 7.94M |
E2 Metals Ltd. Technical Analysis
Negative
0.86
Price Trends
0.75
Negative
0.71
Negative
0.74
Negative
Market Momentum
-0.05
Positive
32.92
Neutral
23.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:USL, the sentiment is Negative. The current price of 0.86 is above the 20-day moving average (MA) of 0.65, above the 50-day MA of 0.75, and above the 200-day MA of 0.74, indicating a bearish trend. The MACD of -0.05 indicates Positive momentum. The RSI at 32.92 is Neutral, neither overbought nor oversold. The STOCH value of 23.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:USL.
E2 Metals 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% | |
47 Neutral | AU$307.76M | -51.09 | -4.32% | ― | ― | 5.15% | |
46 Neutral | AU$418.33M | -54.50 | -3.98% | ― | ― | 82.35% | |
46 Neutral | AU$293.51M | -79.04 | -1.60% | ― | 139.99% | 34.78% | |
46 Neutral | AU$416.05M | -226.32 | -0.64% | ― | ― | 29.63% | |
43 Neutral | AU$143.77M | -18.90 | -14.47% | ― | ― | -174.84% | |
42 Neutral | AU$249.17M | -4.44 | -38.44% | ― | ― | -85.29% |
* Basic Materials Sector Average
AU:USL
E2 Metals Ltd.
0.58
0.09
19.59%
AU:SVL
Silver Mines Limited
0.12
-0.05
-28.13%
AU:SGQ
St. George Mining Ltd.
0.05
-0.04
-44.21%
AU:AZY
Antipa Minerals Limited
0.46
-0.08
-14.81%
AU:SMI
Santana Minerals Ltd.
0.42
-0.32
-43.24%
AU:SS1
Sun Silver Ltd.
0.78
-0.12
-13.41%
E2 Metals Ltd. Corporate Events
Unico Silver Issues New Shares Under Placement and Confirms Regulatory Compliance
Oct 1, 2026
Unico Silver Limited has issued 78,947,369 fully paid ordinary shares as part of a previously announced placement, expanding its share base to support ongoing corporate and project funding requirements. The company confirmed that the new shares we...
Unico Silver Seeks ASX Quotation for Nearly 79 Million New Shares
Oct 1, 2026
Unico Silver Limited has applied for the quotation of 78,947,369 new ordinary fully paid shares on the Australian Securities Exchange, formalised through an Appendix 2A filing. The newly quoted securities, issued on 1 October 2026 and linked to a ...
Unico Silver Lodges 2026 Corporate Governance Statement with ASX
Sep 29, 2026
Unico Silver Limited has filed its Appendix 4G and corporate governance statement with the ASX for the year to 30 June 2026, confirming its disclosures align with the ASX Corporate Governance Council’s Principles and Recommendations. The sta...
Unico Silver Outlines 2026 Corporate Governance and Diversity Framework
Sep 29, 2026
Unico Silver Limited has released its 2026 Corporate Governance Statement, detailing how it aligns with ASX Corporate Governance Council recommendations and where it departs from them in light of its specific circumstances. The board underscores t...
Unico Silver Moves to Consolidate Joaquin District with Cerro La Mata Option
Sep 24, 2026
Unico Silver has signed an exploration agreement with Victory Gold S.A. that grants exclusive rights and an option to purchase the Cerro La Mata project adjacent to its Joaquin and Cerro Puntudo holdings in Santa Cruz Province, Argentina. The deal...
Unico Silver Plans Major Share Placement to Fund Growth
Sep 24, 2026
Unico Silver Limited has notified the ASX of a proposed placement of up to 78,947,368 ordinary fully paid shares, with the new securities scheduled for issue on 1 October 2026. The capital raising, undertaken via a placement structure, is expected...
Unico Silver Raises A$60 Million to Fast-Track Joaquin Project Development
Sep 24, 2026
Unico Silver has secured firm commitments to raise approximately A$60 million through a single-tranche institutional placement priced at A$0.76 per share, a discount to its recent trading levels. The raise, strongly backed by domestic and offshore...
Unico Silver Seeks Trading Halt Ahead of Capital Raising
Sep 21, 2026
Unico Silver Limited has requested and received a trading halt on its ordinary shares from the Australian Securities Exchange, effective 22 September 2026. The halt will remain in place until either normal trading resumes on 24 September 2026 or t...
Unico Silver Builds Scale with Resource Growth at Joaquin and Cerro Leon
Sep 18, 2026
Unico Silver is consolidating its position as a major silver developer by advancing the Joaquin and Cerro Leon projects, which together host substantial silver-equivalent resources. The company highlights successive upgrades to these resources, hi...
Unico Silver Issues New Shares After Option Conversion
Aug 24, 2026
Unico Silver Limited has issued 941,746 fully paid ordinary shares following the conversion of an equal number of unlisted options, expanding its share capital without a prospectus disclosure under the Corporations Act. The move reflects standard ...
Unico Silver Seeks ASX Quotation for Additional Ordinary Shares
Aug 24, 2026
Unico Silver Limited has lodged an application with the ASX for quotation of 941,746 new ordinary fully paid shares, expanding its listed securities base under the code USL. The additional shares, issued on August 24, 2026, modestly increase the c...
Unico Silver Delays Argentina PFS to Boost Resource Confidence and Processing Options
Aug 17, 2026
Unico Silver has postponed the completion of its maiden integrated Pre-Feasibility Study for the Joaquin and Cerro Leon silver-gold projects from September to January 2027 to capture recent drilling results and expanded metallurgical testwork. The...
Unico Silver Discloses Director Melanie Leydin’s Final Interests After Board Exit
Aug 12, 2026
Unico Silver Limited has announced that Melanie Leydin ceased to be a director of the company on 12 August 2026, with the final director’s interest notice confirming she holds no securities directly in her own name. Her indirect interests ar...
Unico Silver Director Melanie Leydin Steps Down After Nine Years
Aug 12, 2026
Unico Silver Limited has announced the resignation of Non-Executive Director Melanie Leydin, effective 12 August 2026, after nine years of service to the board. Leydin, the founding chair of E2 Metals, played a pivotal role in guiding the company ...
Unico Silver Director Reshapes Stake Through Option Exercise and Share Sale
Aug 3, 2026
Unico Silver director Jose Bordogna has adjusted his holdings, exercising 1,000,000 unlisted options at A$0.27 each to acquire fully paid ordinary shares and then selling 500,000 of those shares on-market. Following the transactions, he retains 50...
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.