ActivEX Limited (AIV) AI Stock Analysis

• Market Cap: AU$5.98M
• Dividend Yield: N/A
• Average Volume (3M): 133.78K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.45
• Revenue Growth: N/A
• EPS Growth: 61.60%
• Country: AU
• Employees: 1
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 271,752,560
• 10 Day Avg. Volume: 57,553
• 30 Day Avg. Volume: 133,775
• PEG Ratio: 0.02
• Price to Book (P/B): 0.69
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -2.11
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: AU$0.02 ▲(0.00% Upside)

The score is primarily constrained by weak financial performance—minimal revenue, persistent losses, ongoing cash burn, and rising leverage despite some 2025 improvement. Technical indicators add only modest support with mild positive momentum, while valuation remains pressured by a negative P/E and no dividend yield data.

Positive Factors

Positive equity buffer

Maintaining positive equity provides a structural solvency buffer versus insolvency risk, supporting continued operations and access to capital markets or creditor forbearance. This balance-sheet cushion helps preserve optionality for restructuring or funding while fundamentals improve.

Narrowing losses and improved free cash flow

Year-over-year improvement in net loss and free cash flow signals the company may be making operational progress toward reducing cash burn. If sustained, this trend improves runway, reduces reliance on external financing and increases the feasibility of reaching self-sustaining operations.

Tangible asset base

A tangible asset base near $5m provides long-term structural value: it can be used as collateral, monetized in downside scenarios, or repurposed to support new revenue strategies. Physical assets materially reduce liquidation risk versus pure intangible startups.

Negative Factors

Virtually no recurring revenue

Sustained near-zero revenue leaves the business without scale or a proven commercial model, making margins and cost recovery impossible. Long-term viability depends on establishing durable revenue streams; until then the company lacks core fundamentals to generate profits.

Persistent negative operating and free cash flow

Chronic negative operating and free cash flow forces dependency on external funding, limiting strategic flexibility and capital allocation. Over months this erodes runway, restricts investment in growth initiatives, and increases the odds of dilutive financings or cost-driven insolvency risk.

Rising leverage amid eroding equity

Increasing debt relative to shrinking equity structurally raises financial risk: higher interest and covenant exposure reduce resilience to shocks and constrain future borrowing. With persistent losses, deleveraging will be difficult and solvency pressures could intensify over several quarters.

ActivEX Limited Business Overview & Revenue Model

Company Description

ActivEX Limited engages in the acquisition, identification, and delineation of mineral resource projects. The company holds a 100% interest in the Georgetown Gold Project covering an area of 149.88 square kilometers located in northeast Queensland; Gilberton Gold Project comprising 143 sub-blocks covering an area of 464 square kilometers; Coalstoun Lakes Copper and Gold Project located in southeast Queensland; Esk Copper and Gold Project comprising 39 sub-block covering an area of 120 square kilometers located in New England Orogen in southeast Queensland; Barambah Gold Project comprising 9 sub-block covering an area of 28 square kilometers located in southeast Queensland; and Pentland Gold Project consisting of 39 sub-block covering an area of 125 square kilometers. ActivEX Limited was incorporated in 2005 and is based in Sydney, Australia.

How the Company Makes Money

ActivEX Limited makes money through the exploration and development of mineral properties, primarily copper and gold. The company generates revenue by discovering mineral deposits and either developing these projects into operational mines or selling stakes in promising projects to other mining companies. Revenue streams may also include joint ventures or partnerships where ActivEX collaborates with other companies to share the risks and rewards of mineral exploration and development. As the projects advance, the company may also earn income from the sale of extracted minerals if production commences.

ActivEX Limited Financial Statement Overview

Summary

Financial performance is very weak: revenue is effectively zero across recent years with persistent losses and negative gross profit. Cash flow remains consistently negative, indicating ongoing cash burn, and leverage has risen as equity has eroded—raising funding and balance-sheet risk. A modest positive is that 2025 net loss and free cash flow improved versus 2024, but the overall profile remains fragile.

Income Statement

The company shows a very weak earnings profile: revenue is effectively zero in recent years (2022–2025) with a -100% revenue decline in 2025, while losses remain large and persistent (net income was -1.0m in 2025 vs -2.7m in 2024). Gross profit is negative in each of the last four annual periods, indicating the core cost structure is not yet supported by a stable revenue base. A modest positive is that net losses narrowed meaningfully in 2025 versus 2024, but profitability remains deeply negative overall.

Balance Sheet

The balance sheet has mixed quality. Equity remains positive (2.19m in 2025), but it has eroded materially from 5.93m in 2023 and 6.93m in 2022 due to ongoing losses. Leverage has increased: debt-to-equity rose to ~1.21 in 2025 from ~0.39 in 2023, reflecting higher debt alongside shrinking equity. Total debt (2.65m in 2025) is meaningful relative to the company’s size, and returns on equity are consistently negative, signaling continued value destruction despite an asset base of ~5.0m.

Cash Flow

Cash generation remains a key weakness. Operating cash flow is negative in every year shown (including -0.48m in 2025 and -0.44m in 2024), and free cash flow is also consistently negative (improving to -0.72m in 2025 from -0.89m in 2024). The year-over-year improvement in free cash flow in 2025 is a constructive signal, but the business is still cash-consuming and therefore likely dependent on external funding or balance-sheet capacity to sustain operations.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	5.23K	0.00	0.00	0.00	0.00	37.00
Gross Profit	-1.36K	-1.36K	-3.55K	-5.11K	-3.39K	37.00
EBITDA	-90.52K	-90.52K	-2.44M	-727.00K	-1.51M	-300.00K
Net Income	-1.04M	-1.04M	-2.70M	-984.00K	-2.35M	-1.10M
Balance Sheet
Total Assets	4.98M	4.98M	5.90M	8.35M	10.32M	9.59M
Cash, Cash Equivalents and Short-Term Investments	187.54K	187.54K	53.33K	887.25K	3.03M	107.21K
Total Debt	2.65M	2.65M	2.54M	2.28M	2.78M	3.64M
Total Liabilities	2.79M	2.79M	2.67M	2.43M	3.38M	3.72M
Stockholders Equity	2.19M	2.19M	3.23M	5.93M	6.93M	5.87M
Cash Flow
Free Cash Flow	-937.54K	-715.79K	-893.80K	-868.95K	-1.35M	-520.29K
Operating Cash Flow	-833.68K	-483.68K	-437.10K	-356.00	-707.00	-368.00
Investing Cash Flow	767.89K	767.89K	-189.82K	663.41K	-2.04K	-219.92K
Financing Cash Flow	200.00K	-150.00K	0.00	-772.99K	1.75M	486.42K

ActivEX Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
MRD	49 Neutral	AU$43.73M	-10.67	-106.64%	―	―	-36.36%
RIE	48 Neutral	AU$8.99M	-0.64	-190.23%	―	―	47.88%
AIV	47 Neutral	AU$5.98M	-4.58	-38.30%	―	―	61.60%
SLZ	43 Neutral	AU$8.78M	-0.63	-78.12%	―	―	-349.06%
CR9	43 Neutral	AU$10.79M	-7.86	-27.60%	―	―	36.36%

ActivEX Limited Corporate Events

Star Diamond Exits Substantial Shareholding in ActivEX Limited

Star Diamond Developments Limited has notified ActivEX Limited that it has ceased to be a substantial shareholder in the company as of 6 January 2026. The change involves Star Diamond no longer holding 12.5 million ordinary shares, removing a major investor from ActivEX’s register and potentially altering the company’s ownership dynamics and future capital-raising or strategic options, although no new associates or related changes were disclosed in the notice.

The most recent analyst rating on (AU:AIV) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on ActivEX Limited stock, see the AU:AIV Stock Forecast page.

ActivEX Seeks ASX Quotation for 6.25 Million New Shares

ActivEX Limited has lodged an application with the ASX for quotation of 6,250,000 ordinary fully paid shares under its issuer code AIV. The new securities, issued on 23 December 2025 following a previously announced transaction, will expand the company’s quoted share capital, potentially improving liquidity for shareholders and supporting its ongoing corporate and funding activities.

ActivEX Completes $100,000 Share Placement to Fund Exploration Work

ActivEX Limited has completed a $100,000 share placement to Business Victor Investments Limited, issuing 6,250,000 fully paid ordinary shares at $0.016 per share. The funds will be directed towards further development of the company’s existing exploration projects and to bolster general working capital, supporting its ongoing operational and exploration activities. The company also confirmed it remains compliant with its continuous disclosure and financial reporting obligations under the Corporations Act, and that the placement was conducted without the need for a prospectus, signalling regulatory confidence in its disclosure record.

ActivEX Limited Announces Proposed Securities Issue

ActivEX Limited has announced a proposed issue of 6,250,000 ordinary fully paid securities, with the issuance date set for December 30, 2025. This move is part of a placement or other type of issue, and the company has applied for these securities to be quoted on the ASX, which could potentially enhance its liquidity and market presence.

ActivEX Limited Secures $100,000 Through Share Placement

ActivEX Limited has successfully raised $100,000 through the placement of 6,250,000 fully paid ordinary shares to Business Victor Investments Limited at a price of $0.016 per share. The funds generated from this placement will be utilized for the further development of the company’s existing exploration projects and for general working capital purposes, potentially strengthening its operational capabilities and market position.

ActivEX Limited Amends Loan Repayment Terms with Star Diamond

ActivEX Limited has announced a variation in its loan agreement with Star Diamond Developments Limited. The revised terms allow the company to repay the $5 million unsecured loan either in cash or through the transfer of assets or shares of its subsidiary, potentially impacting its financial strategy and stakeholder interests.

ActivEX Limited Announces Successful Resolutions at AGM

ActivEX Limited, a company listed on the Australian Stock Exchange, held its Annual General Meeting on November 27, 2025, where several key resolutions were passed. These included the adoption of the Remuneration Report, the re-election of Director Ms. Min Yang, approval of 50,000,000 shares previously issued, and an additional 10% placement capacity. The successful passage of these resolutions indicates strong shareholder support and positions the company for potential growth and strategic flexibility in its operations.

ActivEX Completes Drilling at Mt Hogan Gold Project

ActivEX Limited has completed a resource definition drill program at the Mt Hogan Gold Project, where it holds a 24.5% interest alongside Gilberton Gold Pty Ltd. The program, completed on-budget and on-schedule, involved 4,996 meters of drilling across four prospects and aims to expand the existing mineral resource estimate. Assay results are expected in late Q4 2025 or early Q1 2026, which will guide the next phase of project development. This project is part of a larger 8km gold mineralized trend, including historic mining centers at Josephine and Comstock.

ActivEX Limited Reports Quarterly Cash Flow and Strategic Financing

ActivEX Limited reported a net cash outflow from operating activities of $473,000 for the quarter ending September 30, 2025, primarily due to staff and corporate costs. The company managed to generate a positive cash flow of $37,000 from investing activities, mainly through the disposal of tenements. Additionally, ActivEX secured $450,000 from financing activities, indicating a strategic move to bolster its cash reserves amidst ongoing exploration and evaluation efforts.