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Ardiden
(Sydney:ADV)
Ardiden (ADV) vs. iShares MSCI Australia ETF (EWA)
Ardiden Business Overview & Revenue Model
Ardiden Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | -225.94K | 0.00 | 13.51K | 1.25K | 200.58K |
| Gross Profit | 0.00 | -225.94K | -73.00K | -109.00K | -106.57K | 170.86K |
| EBITDA | -1.23M | -1.45M | -10.12M | 15.90M | -1.79M | -1.21M |
| Net Income | -1.37M | -1.37M | -10.19M | 15.75M | 2.87M | -1.23M |
Balance Sheet | ||||||
| Total Assets | 30.62M | 30.62M | 31.80M | 42.29M | 27.72M | 17.24M |
| Cash, Cash Equivalents and Short-Term Investments | 11.68M | 11.44M | 11.84M | 18.88M | 4.37M | 1.24M |
| Total Debt | 0.00 | 0.00 | 0.00 | 58.20K | 124.57K | 187.14K |
| Total Liabilities | 127.06K | 127.06K | 116.28K | 361.09K | 1.77M | 533.96K |
| Stockholders Equity | 30.49M | 30.49M | 31.69M | 41.93M | 25.95M | 16.70M |
Cash Flow | ||||||
| Free Cash Flow | 444.22K | 444.22K | 1.35M | -8.63M | -6.20M | -5.01M |
| Operating Cash Flow | 639.47K | 639.47K | 2.20M | -2.04M | -1.43M | -854.73K |
| Investing Cash Flow | -156.06K | -156.06K | -519.76K | 7.12M | -1.52M | -4.23M |
| Financing Cash Flow | 0.00 | 0.00 | -35.29K | -67.86K | 6.05M | 4.83M |
Ardiden Technical Analysis
Ardiden 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% | |
54 Neutral | AU$90.26M | -19.09 | -4.27% | ― | ― | 86.51% | |
48 Neutral | AU$16.29M | -56.67 | -2.80% | ― | ― | -107.50% | |
45 Neutral | AU$5.35M | ― | -7.78% | ― | ― | ― | |
45 Neutral | AU$27.36M | -2.94 | -125.25% | ― | ― | -17.24% |
Ardiden Corporate Events
Ardiden has completed its merger with Lac Gold, making Lac Gold a wholly owned subsidiary and securing full ownership of the Rouyn Gold Project in Québec, Canada, thereby creating additional scale, optionality and financial flexibility for its Canadian-focused gold strategy. Following a successful A$10m capital raising linked to the merger, the company has launched a 15,000-metre diamond drilling program at Rouyn to expand and refine the existing mineral resource, test depth and structural continuity, and support future technical and economic studies, while advancing key permitting with an Authorisation to Intervene application and strengthening stakeholder engagement with Québec authorities, First Nations and local communities.
The most recent analyst rating on (AU:ADV) stock is a Hold with a A$0.41 price target. To see the full list of analyst forecasts on Ardiden stock, see the AU:ADV Stock Forecast page.
Ardiden has released an investor briefing dated 28 January 2026 outlining its strategy to unlock what it describes as Canada’s next world-class gold discovery through exploration and development of its Pickle Lake and Rouyn gold projects. The company emphasises that the presentation is for informational purposes only, does not constitute an offer or financial advice, and that any forward-looking statements regarding project feasibility, financial outcomes and future strategies are subject to significant risks and uncertainties, underscoring the speculative nature of potential returns for investors.
The most recent analyst rating on (AU:ADV) stock is a Hold with a A$0.41 price target. To see the full list of analyst forecasts on Ardiden stock, see the AU:ADV Stock Forecast page.
Ardiden Ltd has commenced a 15,000-metre Phase 1 diamond drilling campaign at its Rouyn Gold Project in Québec, marking its first drilling program on the property and a key milestone in advancing the asset. The work, initially focused on the Astoria Project Area in the eastern portion of the mineralised corridor, is aimed at testing extensions of known mineralisation along strike and at depth, improving geological confidence in priority target zones, and supporting future resource growth initiatives; the program is being executed by Québec-based contractors and is expected to underpin the company’s efforts to grow its resource base in a well-serviced, high-potential gold district.
The most recent analyst rating on (AU:ADV) stock is a Hold with a A$0.41 price target. To see the full list of analyst forecasts on Ardiden stock, see the AU:ADV Stock Forecast page.
Ardiden Limited, listed on the ASX under the symbol ADV, has announced changes in substantial holdings related to its voting securities. Treasury Services Group Pty Ltd ATF Nero Resource Fund has ceased being a substantial holder following its participation in a placement and the dilution of a recent share issuance. The shifts in holdings underscore increased financial activity for the company, potentially affecting its governance framework and shareholder dynamics.
Churchill Strategic Investments Group Pty Ltd has ceased to be a substantial holder in Ardiden Limited as of December 4, 2025. This change was due to a dilution from a recent placement and participation in the placement, affecting 9,000,000 and 5,000,000 securities respectively. This development may impact Ardiden’s shareholder structure and potentially influence its market positioning.
Ardiden Limited has announced that it no longer holds a substantial interest in its own voting securities following a general meeting held on November 26, 2025. This change is due to a voting intention deed with Treasury Services Group Pty Ltd and Churchill Strategic Investments Group Pty Ltd, resulting in the cessation of Ardiden’s substantial holding status, impacting over 9 million shares.
Ardiden Ltd has announced a change in the interests of its director, Jeremy Robinson, involving an acquisition of shares and performance rights. Robinson’s indirect interest through Churchill Strategic Investments Group Pty Ltd increased by 5,000,000 fully paid shares, and his direct interest now includes additional performance rights. These changes were approved by shareholders and are part of a strategic placement and merger with Lac Gold, potentially impacting Ardiden’s market positioning and shareholder value.
Ardiden Ltd has announced the appointment of Andrew Stocks as a director, effective from December 4, 2025. Stocks holds 9,159,393 fully paid ordinary shares and 6,000,000 performance rights with various conditions tied to the company’s future achievements in mineral resource announcements and share price performance. This appointment and the associated performance rights indicate Ardiden’s strategic focus on advancing its projects and enhancing shareholder value.
Ardiden Limited has issued 151,388,889 fully paid ordinary shares as part of its merger with Lac Gold Limited and a capital raising effort. This strategic move aims to strengthen Ardiden’s market position and expand its operations, potentially benefiting stakeholders by enhancing the company’s growth prospects.
Ardiden Ltd has announced the issuance of unquoted equity securities, specifically performance rights across six tranches, totaling 20 million securities. This strategic move is part of a previously announced transaction, indicating Ardiden’s efforts to enhance its operational framework and potentially strengthen its market position.
Ardiden Ltd has announced the issuance of 101,388,889 fully paid ordinary securities, as part of a previously disclosed transaction. This move is likely to impact the company’s capital structure and could influence its market positioning by potentially increasing its financial resources for ongoing and future projects.
Ardiden Ltd has announced the issuance of 50 million ordinary fully paid securities, which are set to be quoted on the Australian Securities Exchange (ASX) as of December 4, 2025. This move is part of previously announced transactions and is expected to enhance the company’s capital structure, potentially impacting its market positioning and offering opportunities for stakeholders.
Ardiden Ltd has completed its merger with Lac Gold Limited, acquiring 100% of its shares, and now controls two major gold projects in Canada. The merger enhances Ardiden’s financial position with over $20 million in cash and strengthens its leadership team, positioning the company for long-term value creation. The reconstituted board, led by Ian Hume, is set to drive the integration and development of the Rouyn and Pickle Lake projects, with immediate plans for drilling and exploration. The merger is expected to provide operational continuity and governance alignment, benefiting stakeholders and enhancing Ardiden’s industry positioning.
Ardiden Limited announced that all resolutions at their Annual General Meeting were passed, facilitating the completion of their merger with Lac Gold scheduled for December 1, 2025. The approval of these resolutions, including a special resolution, indicates strong shareholder support and is expected to enhance Ardiden’s market position and operational capabilities.
Ardiden Limited, in collaboration with Lac Gold Limited, is positioning itself to become Canada’s next mid-tier gold company. The announcement at the Annual General Meeting highlights the company’s strategic focus on advancing its gold projects in Quebec, which could significantly impact its operational capabilities and market standing.
Ardiden Ltd has announced a change in the interest of its director, Douglas Jendry, who has exercised 1,000,000 unlisted options to acquire an equivalent number of fully paid ordinary shares at an exercise price of A$0.20 each. This transaction, which does not involve any change in the total number of securities held, reflects a strategic move by the director to convert options into shares, potentially signaling confidence in the company’s future performance.
Ardiden Limited has announced the issuance of 1,000,000 fully paid ordinary shares following the exercise of unlisted options at an exercise price of $0.20. This move is facilitated under the exemption provided by section 708A(5) of the Corporations Act, allowing the shares to be sold without disclosure. The company has confirmed compliance with relevant provisions of the Corporations Act, ensuring transparency and adherence to regulatory requirements.
Ardiden Ltd has announced the issuance of 1,000,000 ordinary fully paid securities, which are set to be quoted on the Australian Securities Exchange (ASX) under the code ADV. This move reflects the company’s ongoing efforts to enhance its market presence and potentially attract more investors, thereby strengthening its financial position.