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African Gold Ltd.
(Sydney:A1G)
African Gold Ltd. (A1G) vs. iShares MSCI Australia ETF (EWA)
African Gold Ltd. Business Overview & Revenue Model
African Gold Ltd. Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -14.99K | -14.66K | -11.78K | 0.00 | -385.00 | -1.85K |
| EBITDA | -2.87M | -7.28M | -1.80M | -2.00M | -2.53M | -758.46K |
| Net Income | -2.89M | -7.30M | -1.81M | -2.01M | -2.53M | -715.14K |
Balance Sheet | ||||||
| Total Assets | 18.39M | 9.15M | 11.27M | 11.66M | 11.93M | 6.50M |
| Cash, Cash Equivalents and Short-Term Investments | 11.89M | 1.11M | 85.16K | 1.44M | 3.47M | 1.47M |
| Total Debt | 0.00 | 0.00 | 150.00K | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 1.30M | 624.08K | 963.08K | 577.69K | 804.51K | 80.79K |
| Stockholders Equity | 17.09M | 8.52M | 10.30M | 11.08M | 11.13M | 6.42M |
Cash Flow | ||||||
| Free Cash Flow | -2.24M | -2.24M | -2.17M | -3.80M | -3.23M | -1.81M |
| Operating Cash Flow | -877.62K | -877.37K | -501.40K | -765.70K | -911.51K | -618.82K |
| Investing Cash Flow | -2.65M | -1.36M | -1.67M | -3.04M | -2.32M | -1.19M |
| Financing Cash Flow | 4.56M | 3.27M | 806.46K | 1.78M | 5.23M | 1.65M |
African Gold Ltd. Peers Comparison
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% | |
52 Neutral | ― | -10.51 | -6.26% | ― | ― | 86.93% | |
50 Neutral | AU$1.51B | -12.21 | -65.08% | ― | 149.43% | 1.20% | |
49 Neutral | AU$523.94M | -1,529.11 | -22.54% | ― | ― | ― | |
47 Neutral | AU$123.77M | -23.96 | -23.79% | ― | ― | -280.00% | |
45 Neutral | AU$122.70M | -4.63 | 18.38% | ― | 64.66% | ― |
African Gold Ltd. Corporate Events
African Gold Ltd director Silvia Bottero has adjusted her holding in the company through a cashless exercise of options and subsequent share sales. Between 10 March and 13 March 2026, she exercised 5,000,000 options at $0.10 each, receiving 4,501,992 new ordinary shares based on a five-day VWAP of $1.004 per share for a $500,000 exercise value.
As part of the same transactions, Bottero sold 3,142,398 ordinary shares on-market and off-market, generating consideration of about $2.66 million and reducing her overall holding. Following the trades, her interest stands at 2,073,880 ordinary shares, signaling a significant reshaping of her equity exposure while still retaining a notable stake in African Gold.
The most recent analyst rating on (AU:A1G) stock is a Hold with a A$0.73 price target. To see the full list of analyst forecasts on African Gold Ltd. stock, see the AU:A1G Stock Forecast page.
African Gold Ltd. has dispatched its Scheme Booklet to securityholders, detailing the proposed schemes of arrangement under which TSX-listed Montage Gold Corp. would acquire 100% of African Gold’s shares and related options. The materials, including an independent expert’s report and voting instructions, have been distributed via post and email and are also available online, marking a key procedural step toward shareholder meetings that will determine the company’s change of control and future ownership.
The structured distribution process ensures that all categories of securityholders receive access to the Scheme Booklet and proxy forms, supporting informed voting on the proposed transaction. This development advances the timeline of the Montage acquisition, with potential implications for African Gold’s strategic direction, capital structure and stakeholder outcomes depending on the final approval of the schemes.
The most recent analyst rating on (AU:A1G) stock is a Hold with a A$0.71 price target. To see the full list of analyst forecasts on African Gold Ltd. stock, see the AU:A1G Stock Forecast page.
African Gold Ltd. has issued 4,501,992 new ordinary shares, as reflected in a recent filing with the ASX, expanding its share capital base. The company confirmed that the shares were issued without a prospectus under relevant exemptions and that it remains in compliance with its continuous disclosure and financial reporting obligations.
By lodging the cleansing notice, African Gold enables these newly issued shares to be freely tradable without further disclosure, maintaining regulatory transparency for investors. The board’s authorization of the announcement underscores that there is no excluded or undisclosed information that would be material to the value of the company’s securities.
The most recent analyst rating on (AU:A1G) stock is a Hold with a A$0.73 price target. To see the full list of analyst forecasts on African Gold Ltd. stock, see the AU:A1G Stock Forecast page.
African Gold Ltd. has applied for quotation on the ASX of 4,501,992 new fully paid ordinary shares under the code A1G, with an issue date of March 10, 2026. The additional securities, arising from the exercise or conversion of existing instruments, will expand the company’s listed share capital and may enhance liquidity in its stock while supporting ongoing corporate and project funding needs.
The application under the ASX Appendix 2A framework confirms compliance with relevant listing rules for the new securities. By increasing the number of quoted shares, African Gold positions itself to access a broader investor base, potentially improving its capital-raising flexibility as it advances its gold exploration and development strategy.
The most recent analyst rating on (AU:A1G) stock is a Hold with a A$0.73 price target. To see the full list of analyst forecasts on African Gold Ltd. stock, see the AU:A1G Stock Forecast page.
African Gold Ltd. will not be added to the S&P/ASX All Ordinaries Index following S&P Dow Jones Indices’ March 2026 quarterly rebalance, reversing an earlier indication that it would join the benchmark. The index committee also decided that American Rare Earths will remain in the All Ordinaries, while a wide slate of resource, energy-transition and technology-focused companies are being added, signalling evolving investor emphasis within the Australian equities market.
These changes, effective before trading on March 23, 2026, mean African Gold misses out on the potential visibility and index-linked capital flows that can accompany inclusion in the All Ordinaries. Retention of American Rare Earths and the addition of multiple minerals, lithium, copper, and media names underscore the continued prominence of resources and related growth sectors in shaping Australia’s key market benchmark.
The most recent analyst rating on (AU:A1G) stock is a Hold with a A$0.73 price target. To see the full list of analyst forecasts on African Gold Ltd. stock, see the AU:A1G Stock Forecast page.
African Gold Ltd. has confirmed that the Scheme Booklet for its proposed acquisition by Montage Gold Corp., via share and option schemes of arrangement, has been registered by ASIC and made available to securityholders. The document outlines the terms under which Montage will acquire 100% of African Gold’s shares, and shareholders and optionholders are urged to review it carefully before voting.
An independent expert from BDO Corporate Finance has concluded that both the share and option schemes are fair and reasonable and in the best interests of African Gold securityholders, absent a superior proposal. Independent directors, excluding a Montage executive on the board, unanimously recommend voting in favour of the schemes and intend to vote their own holdings accordingly at scheme meetings scheduled in Perth on 13 April 2026.
The most recent analyst rating on (AU:A1G) stock is a Hold with a A$0.73 price target. To see the full list of analyst forecasts on African Gold Ltd. stock, see the AU:A1G Stock Forecast page.
African Gold Ltd has secured initial court approval in Western Australia to convene shareholder and optionholder meetings to vote on a proposed scheme under which Montage Gold Corp. would acquire 100% of African Gold’s shares via share and option schemes of arrangement. The company will dispatch a detailed scheme booklet, including an independent expert’s report, to securityholders in mid-March, with the independent directors, excluding a Montage executive, unanimously recommending investors vote in favour of the schemes in the absence of a superior proposal, signalling board-level support for the takeover and a potential change of control for stakeholders.
The scheme booklet will be registered with ASIC, released to the ASX and made available on African Gold’s website, with tailored distribution methods for holders depending on their communication preferences. Securityholders are urged to carefully review the materials and seek professional advice before voting, as their decisions at the upcoming meetings will determine whether the Montage transaction proceeds, potentially reshaping African Gold’s ownership structure and strategic direction.
The most recent analyst rating on (AU:A1G) stock is a Hold with a A$0.73 price target. To see the full list of analyst forecasts on African Gold Ltd. stock, see the AU:A1G Stock Forecast page.
African Gold Ltd has issued 750,000 new ordinary shares, as detailed in a filing with the ASX, and has lodged a cleansing notice confirming that the shares were issued without a prospectus under the relevant provisions of the Corporations Act. The company states it is up to date with its financial reporting and continuous disclosure obligations and that there is no excluded information, ensuring the newly issued shares can be freely traded and signalling continued regulatory compliance for existing and new shareholders.
The most recent analyst rating on (AU:A1G) stock is a Hold with a A$0.73 price target. To see the full list of analyst forecasts on African Gold Ltd. stock, see the AU:A1G Stock Forecast page.
African Gold Ltd. has applied to the ASX for quotation of 750,000 new ordinary fully paid shares, effective 3 February 2026. The additional securities, arising from the exercise or conversion of existing instruments, modestly expand the company’s share base and signal ongoing capital structuring that could support its future operational or growth initiatives, though no specific use of proceeds or strategic projects was disclosed in the filing.
The most recent analyst rating on (AU:A1G) stock is a Hold with a A$0.73 price target. To see the full list of analyst forecasts on African Gold Ltd. stock, see the AU:A1G Stock Forecast page.
African Gold Ltd. reported a pivotal December 2025 quarter marked by a binding scheme of arrangement under which Montage Gold Corp will acquire all remaining African Gold shares, giving African Gold investors equity in a larger, better-capitalised Côte d’Ivoire-focused gold development company; a parallel scheme is proposed for options, and the company also exercised its option to lift its stake in Kouroufaba Gold Ltd to 80%, consolidating control over key Ivorian exploration permits. Operationally, the quarter delivered strong exploration results at the Blaffo Guetto deposit within the Didievi Project, where step-out drilling returned multiple high-grade gold intersections beyond the current resource and metallurgical tests confirmed non-refractory ore suitable for conventional CIL processing, while auger drilling at Konahiri advanced several priority gold-in-soil targets, and the company’s cash position was bolstered by the sale of Montage shares and option exercises, collectively de-risking project development and enhancing its regional growth platform ahead of the transaction with Montage.
The most recent analyst rating on (AU:A1G) stock is a Hold with a A$0.71 price target. To see the full list of analyst forecasts on African Gold Ltd. stock, see the AU:A1G Stock Forecast page.
African Gold Ltd has issued 9,250,000 new ordinary shares, as confirmed in a notice to the ASX, expanding its share capital base. The company stated that the shares were issued without a prospectus under the relevant Corporations Act provisions and affirmed its ongoing compliance with financial reporting and continuous disclosure obligations, while noting there is no excluded information that investors are unaware of, which may reassure stakeholders about transparency and regulatory adherence.
African Gold Ltd. has applied to the ASX for quotation of 9,250,000 additional ordinary fully paid shares under its A1G ticker, with the new securities issued on 31 December 2025. The enlarged quoted share base may modestly increase liquidity in the stock and reflects the conversion or exercise of existing instruments, signaling incremental capital formation that could support the company’s ongoing exploration and development activities.
African Gold Ltd has issued 18,688,164 new ordinary shares, as reflected in filings with the ASX, and has confirmed that these securities were issued without a prospectus under the relevant provisions of the Corporations Act. The company has certified that it remains compliant with its financial reporting and continuous disclosure obligations and that there is no excluded information, a step that facilitates secondary trading of the new shares and underscores its adherence to Australian corporate governance and disclosure standards.
African Gold Ltd., an ASX-listed gold exploration and development company, has arranged for the issue and quotation of new ordinary fully paid shares on the Australian Securities Exchange. The company will issue 3,104,004 ordinary shares on December 22, 2025, as payment in lieu of fees, a move that modestly increases its share capital while preserving cash resources, which may support ongoing operations and project development without immediate cash outlay to service providers or stakeholders.
African Gold Ltd. has applied to the Australian Securities Exchange for quotation of 15,584,160 new fully paid ordinary shares, to be issued and quoted on 22 December 2025 under its existing ticker A1G. The additional securities, arising from the exercise or conversion of existing instruments, will expand the company’s listed share capital and may influence liquidity and ownership structure, though the announcement does not specify the associated capital raised or strategic use of funds.
African Gold Limited has secured a waiver from ASX Listing Rule 6.23.2 that allows it to cancel certain existing options without seeking shareholder approval, as part of its proposed acquisition by Montage Gold Corp via schemes of arrangement. Under the waiver, unquoted Scheme Options in African Gold will be cancelled in exchange for new options in Montage on substantially similar terms, while remaining Non-Scheme Options with a $0.05 exercise price and 6 December 2026 expiry will be cancelled for cash, subject to the schemes becoming effective and option holders not exercising their rights before the record date, thereby facilitating compliance with the Scheme Implementation Deed and smoothing the transaction’s completion process for stakeholders.