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Western Mines Group Ltd
(Sydney:WMG)
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Rating:44Neutral
Price Target:
AU$0.15
â–¼(-8.75% Downside)
Action:Reiterated
Date:09/30/26
The score is primarily constrained by weak financial performance (persistent losses and negative operating/free cash flow), despite a comparatively solid, low-debt balance sheet. Technicals also lean bearish with the price below major moving averages and negative MACD. Valuation is further limited by the negative P/E and absence of dividend yield.
Positive Factors
Low leverage
Very low debt reduces interest burden and financial risk while the company advances its exploration program. This gives management greater flexibility to allocate capital toward projects and limits the balance-sheet pressure that higher leverage would create during periods of losses.
Negative Factors
Persistent negative cash generation
Sustained negative operating cash flow means the company is not yet funding its activities from internally generated cash. This creates continuing dependence on available capital while exploration progresses and limits financial flexibility if losses or investment requirements remain elevated.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage
Very low debt reduces interest burden and financial risk while the company advances its exploration program. This gives management greater flexibility to allocate capital toward projects and limits the balance-sheet pressure that higher leverage would create during periods of losses.
Read all positive factors
Western Mines Group Ltd (WMG) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$20.86M
Dividend YieldN/A
Average Volume (3M)121.21K
Price to Earnings (P/E)―
Beta (1Y)1.07
Revenue GrowthN/A
EPS Growth-36.53%
CountryAU
Employees7
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.03
Shares Outstanding130,371,520
10 Day Avg. Volume41,957
30 Day Avg. Volume121,214
Financial Highlights & Ratios
PEG Ratio-0.10
Price to Book (P/B)1.48
Price to Sales (P/S)0.00
P/FCF Ratio-5.43
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
Western Mines Group Ltd Business Overview & Revenue Model
Company Description
Founded in 2020 and based in West Perth, Australia, Western Mines Group Ltd is a mineral exploration firm dedicated to identifying and advancing mineral properties throughout Australia. The company's exploration efforts primarily target nickel, co...
How the Company Makes Money
null...
Western Mines Group Ltd Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
68
Positive
Cash Flow
18
Very Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 10.37K | 0.00 | 47.26K | 0.00 |
| Gross Profit | 0.00 | 10.37K | -49.37K | 38.42K | -1.60K |
| EBITDA | -3.26M | -1.22M | -1.33M | -1.09M | -1.27M |
| Net Income | -3.46M | -1.73M | -1.38M | -1.05M | -1.07M |
Balance Sheet | |||||
| Total Assets | 15.61M | 12.20M | 11.74M | 8.92M | 6.03M |
| Cash, Cash Equivalents and Short-Term Investments | 1.58M | 1.56M | 2.13M | 3.27M | 3.68M |
| Total Debt | 58.02K | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 1.70M | 251.75K | 2.09M | 852.95K | 833.97K |
| Stockholders Equity | 13.90M | 11.95M | 9.65M | 8.06M | 5.20M |
Cash Flow | |||||
| Free Cash Flow | -3.80M | -3.37M | -5.45M | -4.08M | -1.96M |
| Operating Cash Flow | -1.28M | -1.15M | -971.00K | -839.05K | -891.20K |
| Investing Cash Flow | -2.17M | -1.82M | -4.08M | -3.24M | -869.62K |
| Financing Cash Flow | 3.46M | 2.41M | 3.90M | 3.67M | 5.11M |
Western Mines Group Ltd Technical Analysis
Negative
0.16
Price Trends
0.17
Negative
0.18
Negative
0.20
Negative
Market Momentum
>-0.01
Positive
27.94
Positive
60.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:WMG, the sentiment is Negative. The current price of 0.16 is above the 20-day moving average (MA) of 0.16, below the 50-day MA of 0.17, and below the 200-day MA of 0.20, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 27.94 is Positive, neither overbought nor oversold. The STOCH value of 60.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:WMG.
Western Mines Group 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% | |
49 Neutral | AU$23.22M | -6.19 | -95.83% | ― | ― | -3.28% | |
46 Neutral | AU$19.57M | -11.82 | -50.22% | ― | ― | 53.85% | |
45 Neutral | AU$28.37M | -4.58 | -31.63% | ― | ― | -58.33% | |
44 Neutral | AU$20.86M | -4.31 | -24.14% | ― | ― | -36.53% | |
42 Neutral | AU$19.89M | -4.47 | -58.95% | ― | ― | 40.99% | |
41 Neutral | AU$17.67M | -1.55 | -48.04% | ― | ― | 60.56% |
* Basic Materials Sector Average
AU:WMG
Western Mines Group Ltd
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0.06
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11.32%
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OzAurum Resources Ltd.
0.08
0.01
16.42%
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0.02
-0.03
-55.10%
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Gold Mountain Limited
0.06
-0.03
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Marvel Gold Ltd.
0.01
>-0.01
-27.78%
Western Mines Group Ltd Corporate Events
Western Mines Files Updated Corporate Governance Statement and Appendix 4G
Sep 24, 2026
Western Mines Group has lodged its updated corporate governance statement for the year ended 30 June 2026, confirming that it complies with ASX Listing Rule requirements by publishing the statement on its website. The company has also submitted a ...
Western Mines Group Sets Out Corporate Structure in 2026 Annual Report
Sep 24, 2026
Western Mines Group Ltd, an ASX-listed minerals exploration company based in Subiaco, Western Australia, has outlined its current corporate structure and governance arrangements in its annual report for the year ended 30 June 2026. The company is ...
Western Mines Group Sets 2026 AGM Date and Director Nomination Deadline
Sep 23, 2026
Western Mines Group Ltd has scheduled its Annual General Meeting for Wednesday, 18 November 2026, where shareholders will have the opportunity to elect directors to the board. The company has set 5 pm Perth time on 30 September 2026 as the deadlin...
Western Mines Tightens Nickel Targeting with Uplifted Basal Zone at Mulga Tank
Sep 20, 2026
Western Mines Group reported new geochemical assay results from a diamond tail on hole MTRC001 and reverse circulation holes MTRC083 to MTRC087 at its Mulga Tank Project in Western Australia. The drilling, located on the western margin of the Mulg...
Western Mines Group Reports Robust Phase 5 Nickel Sulphide Assays at Mulga Tank
Aug 23, 2026
Western Mines Group has reported the first Phase 5 reverse circulation assay results from four holes at its Mulga Tank nickel project, all showing broad zones of nickel sulphide mineralisation with coincident copper and platinum group element anom...
Western Mines Group Seeks ASX Quotation for 10.4 Million New Shares
Aug 6, 2026
Western Mines Group Ltd has applied for quotation on the ASX of 10,435,578 new ordinary fully paid shares under code WMG, with an issue date of 6 August 2026. The additional securities, issued as part of a previously announced transaction, will ex...
Western Mines Group Seeks ASX Quotation for 6.1 Million New Shares
Aug 6, 2026
Western Mines Group Ltd has applied for quotation of 6,134,969 newly issued ordinary fully paid shares on the ASX. The securities, issued under a previously announced transaction, expand the company’s listed share capital and may enhance liq...
Western Mines Raises A$2.7m to Advance Mulga Tank Exploration
Aug 6, 2026
Western Mines Group has completed the issue of 16,570,547 fully paid ordinary shares at $0.163 each, raising about A$2.7 million via a placement to institutional and sophisticated investors, with a further 200,000 shares to be issued following a s...
Western Mines Group Showcases Mulga Tank Nickel Discovery at Diggers and Dealers
Aug 3, 2026
Western Mines Group has released a company presentation highlighting the Mulga Tank nickel sulphide discovery in connection with the Diggers and Dealers conference scheduled for early August 2026. The materials emphasise that the information is ge...
Western Mines Group Schedules Webinar on Mulga Tank Exploration Progress
Jul 30, 2026
Western Mines Group Ltd has scheduled a Quarterly Activities Webinar for Friday 7 August 2026 at 09:30 AWST to discuss exploration work undertaken during the June quarter at its Mulga Tank project in Western Australia. The online session aims to p...
Western Mines Ramps Up Mulga Tank Drilling as High-Grade Nickel Results and Funding Boost Exploration
Jul 29, 2026
Western Mines Group reported a highly active June quarter dominated by completion of its Phase 5 drilling campaign at the Mulga Tank nickel-cobalt-copper-PGE project in Western Australia. The program covered 20 new reverse circulation holes, addit...
Western Mines Group Plans Share Placement to Raise New Equity Capital
Jul 29, 2026
Western Mines Group Ltd has notified the ASX of a proposed placement of ordinary fully paid shares, with a maximum of 10,487,725 new securities to be issued under its existing listing framework. The issue is structured as a placement or similar ca...
Western Mines Group Plans Modest Share Placement for Ongoing Funding
Jul 29, 2026
Western Mines Group Ltd is an Australian-listed mineral exploration and development company, with ordinary fully paid shares traded on the ASX under ticker WMG, operating in the resources sector and pursuing growth through project advancement and ...
Western Mines Group Plans Share Placement to Boost Capital Base
Jul 29, 2026
Western Mines Group Ltd has notified the ASX of a proposed placement of up to 6,134,969 ordinary fully paid shares, with the new securities expected to be issued on 5 August 2026. The capital raising signals the company’s intention to bolste...
Western Mines Reports Further High-Grade Nickel Hits at Mulga Tank
Jul 21, 2026
Western Mines Group has reported new geochemical assay results from the final Phase 4 and initial Phase 5 reverse circulation drilling at its Mulga Tank nickel project, with six holes all intersecting broad zones of nickel sulphide mineralisation ...
Western Mines advances Phase 5 drilling at Mulga Tank with promising sulphide hits
Jul 1, 2026
Western Mines Group has reported strong progress on its Phase 5 drilling campaign at the Mulga Tank nickel-copper-cobalt-PGE project, completing 10 reverse circulation holes totaling 3,114m, all of which encountered visible disseminated sulphide m...
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.