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Summit Minerals Limited
(Sydney:WRX)
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Rating:53Neutral
Price Target:
AU$0.07
▲(245.00% Upside)
Action:Reiterated
Date:10/24/26
The score is held back primarily by weak financial performance (tiny/declining revenue, large losses, and persistent cash burn with shrinking equity). This is partly offset by strong recent technical momentum (price above major moving averages with positive MACD). Valuation remains constrained because the company is loss-making (negative P/E) and offers no dividend support.
Positive Factors
Debt-free balance sheet
The absence of reported debt limits fixed financial obligations and reduces balance-sheet risk while the company advances its projects. This provides greater flexibility to allocate available capital toward exploration and may lessen pressure from interest costs during periods of weak revenue.
Negative Factors
Sharp revenue decline
Revenue is both very small and volatile, with a substantial decline by 2026. Such a limited and inconsistent revenue base provides little support for recurring operating costs, makes financial performance difficult to scale, and leaves the company dependent on successful future project progression.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
The absence of reported debt limits fixed financial obligations and reduces balance-sheet risk while the company advances its projects. This provides greater flexibility to allocate available capital toward exploration and may lessen pressure from interest costs during periods of weak revenue.
Read all positive factors
Summit Minerals Limited (WRX) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$13.05M
Dividend YieldN/A
Average Volume (3M)932.80K
Price to Earnings (P/E)―
Beta (1Y)0.57
Revenue GrowthN/A
EPS GrowthN/A
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.10
Shares Outstanding191,904,070
10 Day Avg. Volume814,761
30 Day Avg. Volume932,796
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)1.18
Price to Sales (P/S)45.82
P/FCF Ratio-0.92
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
Summit Minerals Limited Business Overview & Revenue Model
Company Description
Western Ridge Resources Limited, an Australian entity established in 2021 and headquartered in Peppermint Grove, specializes in identifying, acquiring, and advancing projects focused on battery and other critical minerals. Its exploration endeavor...
Summit Minerals Limited Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
48
Neutral
Cash Flow
18
Very Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 51.73K | 97.64K | 418.38K | 66.29K | 0.00 |
| Gross Profit | 43.06K | 97.64K | 418.38K | 66.29K | 0.00 |
| EBITDA | -1.51M | -4.66M | -3.20M | -791.61K | 0.00 |
| Net Income | -12.22M | -4.90M | -4.82M | -959.81K | -1.64M |
Balance Sheet | |||||
| Total Assets | 2.12M | 11.78M | 13.35M | 6.10M | 828.42K |
| Cash, Cash Equivalents and Short-Term Investments | 407.86K | 1.41M | 2.23M | 2.46M | 800.75K |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 111.49K | 133.07K | 205.93K | 352.97K | 1.01M |
| Stockholders Equity | 2.01M | 11.65M | 13.14M | 5.75M | -179.95K |
Cash Flow | |||||
| Free Cash Flow | -2.57M | -3.07M | -3.82M | -1.78M | -398.72K |
| Operating Cash Flow | -1.06M | -1.49M | -886.19K | -881.26K | -398.72K |
| Investing Cash Flow | -1.50M | -1.58M | -2.62M | -687.81K | -14.86K |
| Financing Cash Flow | 1.57M | 2.25M | 3.28M | 3.23M | 514.30K |
Summit Minerals Limited Technical Analysis
Positive
0.02
Price Trends
0.04
Positive
0.03
Positive
0.03
Positive
Market Momentum
<0.01
Negative
61.01
Neutral
93.87
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:WRX, the sentiment is Positive. The current price of 0.02 is below the 20-day moving average (MA) of 0.05, below the 50-day MA of 0.04, and below the 200-day MA of 0.03, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 61.01 is Neutral, neither overbought nor oversold. The STOCH value of 93.87 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:WRX.
Summit Minerals Limited 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% | |
53 Neutral | AU$13.05M | -0.68 | -284.00% | ― | ― | ― | |
53 Neutral | AU$22.65M | -4.38 | -238.43% | ― | 390.93% | 50.65% | |
45 Neutral | AU$4.41M | -12.50 | -30.34% | ― | ― | 52.00% | |
45 Neutral | AU$3.45M | -2.14 | -17.83% | ― | ― | 31.71% | |
44 Neutral | AU$4.66M | -0.45 | -66.36% | ― | ― | -42.31% | |
36 Underperform | AU$2.05M | -0.54 | -119.59% | ― | ― | 49.67% |
* Basic Materials Sector Average
AU:WRX
Summit Minerals Limited
0.06
0.02
50.00%
AU:COY
Coppermoly Limited
0.01
>-0.01
-23.08%
AU:AVW
Avira Resources Ltd
0.01
0.00
0.00%
AU:ALV
Alvo Minerals Limited
0.07
0.04
139.29%
AU:ABR
Bryah Resources Ltd.
―
―
―
AU:ATT
Copper Search Ltd.
0.01
-0.02
-66.67%
Summit Minerals Limited Corporate Events
Western Ridge Fast-Tracks Inaugural Drilling at Lady Alma Gold Project
Oct 26, 2026
Western Ridge Resources is advancing its gold exploration portfolio in Western Australia’s Murchison region, notably at the Lady Alma Gold Project within the Gabanintha Shear Zone, as well as its Keystone Project in Nevada, U.S. The company ...
Western Ridge denies undisclosed news behind share price moves
Oct 22, 2026
Western Ridge Resources has responded to an ASX price and volume query, stating it is not aware of any undisclosed information that could explain recent trading in its securities. The company notes it has not yet received exploration results for d...
Western Ridge Resources Sets November Date for 2026 AGM and Urges Early Proxy Voting
Oct 14, 2026
Western Ridge Resources Limited has called its Annual General Meeting for 13 November 2026 at 11:00am WST, to be held in Subiaco, Western Australia. The company is encouraging shareholders to participate by voting on all resolutions via poll, eith...
Western Ridge Updates Investors on High‑Grade Keystone Exploration and Risks
Oct 13, 2026
Western Ridge Resources has provided an investor update on its Keystone Project in Nevada, where it is advancing high‑grade silver, gold and tungsten exploration activities. The company highlights that exploration results are being overseen ...
Western Ridge Sets 2026 AGM Date and Director Nomination Deadline
Oct 9, 2026
Western Ridge Resources Limited has scheduled its Annual General Meeting for 13 November 2026, setting a 16 October 2026 deadline for shareholders or nominees to lodge written director nominations. The timetable underscores the company’s adh...
Western Ridge Resources Plans Issue of 44 Million Performance Rights
Sep 30, 2026
Western Ridge Resources Limited, an ASX-listed resources explorer, has notified the market of a proposed securities issue to support its corporate and operational objectives. The company continues to use equity-based instruments as part of its cap...
Western Ridge Resources Plans Major Share Placement on ASX
Sep 30, 2026
Western Ridge Resources Limited has lodged an Appendix 3B with the ASX outlining a proposed placement of up to 52,400,000 ordinary fully paid shares. The new securities, intended for quotation on the ASX, are scheduled for issue on 25 November 202...
Summit Minerals details partial compliance with ASX governance standards
Sep 28, 2026
Summit Minerals Limited has released its corporate governance statement for the year to 30 June 2026, outlining how it applies the ASX Corporate Governance Council’s fourth edition recommendations. The board has formalised key governance fra...
Western Ridge Resources details governance and structure in 2026 annual report
Sep 28, 2026
Western Ridge Resources Limited has released its annual report for the year ended 30 June 2026, outlining its corporate structure, leadership team, and key governance arrangements. The report confirms the company’s continued listing on the A...
Western Ridge launches first modern drilling at Nevada’s historic Keystone Mine
Sep 16, 2026
Western Ridge Resources has begun its maiden reverse circulation drilling program at the Keystone Project in Nevada, marking the first modern drilling at the historic Keystone Mine in more than 80 years. The campaign targets strike and depth exten...
Western Ridge issues cleansing notice affirming compliance on new securities
Aug 19, 2026
Western Ridge Resources Limited has issued a cleansing notice in relation to recently issued securities, confirming they were issued without a disclosure document under the relevant provisions of the Corporations Act. The company states it is comp...
Western Ridge Resources Seeks ASX Quotation for 34 Million New Shares
Aug 19, 2026
Western Ridge Resources Limited has applied to the ASX for quotation of 34,000,000 ordinary fully paid shares, with the securities to be issued under the code WRX. The new quotation application marks a further step in the company’s capital m...
Western Ridge plans placement of shares and options to expand capital base
Aug 11, 2026
Western Ridge Resources Limited has lodged an Appendix 3B with the ASX outlining a proposed placement involving new securities. The company plans to issue 6 million ordinary fully paid shares and 6 million options exercisable at $0.03, with the op...
Western Ridge Resources Plans Equity Placement of Shares and Options
Aug 11, 2026
Western Ridge Resources Limited has announced a proposed placement involving the issue of 34 million ordinary fully paid shares on the ASX. Alongside these shares, the company plans to issue up to 34 million options, exercisable at $0.03 each and ...
Western Ridge Secures $680,000 to Launch Maiden Drilling at Nevada Keystone Project
Aug 11, 2026
Western Ridge Resources has secured firm commitments from high-net-worth and sophisticated investors to raise $680,000 via an unbrokered placement of approximately 34 million shares at $0.02, a discount to recent trading, with free-attaching optio...
Western Ridge ramps up Keystone exploration with major land expansion and high-grade samples
Jul 31, 2026
Western Ridge Resources has advanced groundwork at its Keystone Project in Nevada, completing exploration earthworks and preparing for a 19-hole drill program scheduled to start in early September. The company has secured Midnight Sun Drilling for...
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.