South Harz Potash Ltd (D86) Stock Price & Analysis
D86 Stock Chart & Stats
- Day’s Range
- EUR 0.01 - EUR 0.02
- 52-Week Range
- EUR 0.01 - EUR 0.03
- Previous Close
- EUR 0.01
- Volume
- N/A
- Average Volume (3M)
- 9,374
- Market Cap
- EUR 2.13M
- Enterprise Value
- EUR 2.34M
- Total Cash (Recent Filing)
- EUR 432.10K
- Total Debt (Recent Filing)
- EUR 0
- Price to Earnings (P/E)
- ―
- Beta
- 0.45
- Next Earnings
- Mar 17, 2027 (Est.)
- EPS Estimate
- N/A
- Next Dividend Ex-Date
- N/A
- Dividend Yield
- N/A
Bulls Say, Bears Say
Bulls Say
Debt-free Balance Sheet
A zero-debt capital structure materially lowers solvency and interest-cost risk for a pre-revenue developer. That gives management flexibility to time equity raises or project financing, reduces mandatory cash outflows, and preserves optionality while advancing permitting and studies.
Material Improvement In Cash Burn
Sustained narrowing of operating cash burn and losses indicates better cost control or lower activity intensity. This durable improvement reduces near-term financing pressure, extends runway, and shows management can compress spend while continuing project advancement prior to revenue.
Strategic Potash Project Focus
Operating in the potash segment ties the company to a structurally important fertilizer input with stable long-term demand from agriculture. A German project location supports access to EU markets and potential strategic partners or offtake, underpinning long-term project value if development proceeds.
Bears Say
Pre-revenue With Persistent Losses
Being pre-revenue with recurring operating losses creates ongoing funding dependency. Without operating cash inflows, management must repeatedly access external capital; this structural mismatch increases dilution risk and constrains the firm's ability to execute multi-year development milestones independently.
Eroding Equity Base
A sharply reduced equity base signals cumulative capital consumption and elevates future funding risk. With limited shareholder equity remaining, the company has less cushion against shocks and is more likely to require dilutive equity raises or subordinated financing to fund permitting, studies, or eventual construction.
Pre-development, Non-producing Asset Risk
Projects still in exploration/permitting face long lead times, permitting and execution risk, and large capital requirements before revenue. Regulatory, technical or social hurdles in Germany can delay timelines and increase capital needs, making project realization and cash generation uncertain.
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South Harz Potash Ltd Stock Smart Score
Company Description
South Harz Potash Ltd
Turnstone Resources Ltd engages in the development of potash mining projects in Germany. The company primarily explores potash deposits. Its flagship project Ohmgebirge north-western extent of the South Harz sedimentary basin approximately 30km west of Sondershausen and 65km northwest of the state capital, Erfurt in Germany. The company was formerly known as South Harz Potash Limited and changed its name to Turnstone Resources Ltd in March 2026. Turnstone Resources Ltd is headquartered in West Perth, Australia.
- Sector
- Basicmaterials
- Industry
- Industrial Materials
- CEO
- Leonard S. Jubber BCivil
- Website
- turnstoneresources.com
- Address
- 6-10 Douro Place, West Perth, WA, 6005, AU
South Harz Potash Ltd (D86) Earnings & Revenues
Technical Analysis
Overall Consensus
| Indicator | Bullish | Neutral | Bearish |
|---|---|---|---|
| Overall Consensus | 6 | 2 | 14 |
| Technical Analysis | 5 | 2 | 3 |
| Moving Averages | 1 | 0 | 11 |








