Apollo Minerals Limited (AON) AI Stock Analysis

• Market Cap: AU$38.07M
• Dividend Yield: N/A
• Average Volume (3M): 2.17M
• Price to Earnings (P/E): ―
• Beta (1Y): -0.05
• Revenue Growth: N/A
• EPS Growth: -17.02%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 928,456,900
• 10 Day Avg. Volume: 1,876,198
• 30 Day Avg. Volume: 2,171,453
• PEG Ratio: -0.07
• Price to Book (P/B): 0.57
• Price to Sales (P/S): 90.10
• P/FCF Ratio: -1.29
• 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: 46 Neutral
• Price Target: AU$0.03 ▲(190.00% Upside)

The score is held down mainly by weak financial performance (small/volatile revenue, persistent losses, and ongoing cash burn). Technicals provide some support via strong recent momentum, but the very overbought RSI increases near-term downside risk. Valuation remains unattractive due to negative earnings and no indicated dividend support.

Positive Factors

Debt-free Balance Sheet

A no‑debt balance sheet materially lowers financial risk and interest burden, giving Apollo durable flexibility to fund exploration and weather commodity cycles without immediate refinancing pressure. This structural strength supports long‑term project optionality and survival.

Stable Asset Base

Relatively stable asset levels indicate the company retains tangible exploration and project assets that underpin future value creation. That steady asset base provides management with flexibility to prioritize high‑value targets and maintain continuity in multi‑period exploration campaigns.

Positive Gross Margin (2025)

A positive gross margin in 2025, although modest, suggests the company’s projects or cost structure can generate margin once revenue scales. This points to potential operational leverage and a foundation for sustainable profitability if exploration converts to consistent production or higher revenues.

Negative Factors

Sustained Losses

Persistent, sizable losses and deeply negative margins erode equity over time and constrain the firm’s ability to self‑finance exploration or development. Enduring unprofitability increases reliance on external capital, risks dilution, and limits management’s strategic options over the medium term.

Weak Cash Generation

Consistent negative operating and free cash flows indicate structural cash burn, forcing dependence on external financing or asset sales to sustain operations. This weak cash generation raises execution risk for multi‑year exploration programs and increases likelihood of future dilution.

Small, Volatile Revenue

A very small, highly volatile revenue base undermines scale economics and margin sustainability, making results contingent on intermittent exploration outcomes. Over the medium term this limits ability to build predictable operating cash flow and increases funding and execution risk.

Apollo Minerals Limited Business Overview & Revenue Model

Company Description

Apollo Minerals Limited engages in the exploration and development of mineral resources. Its flagship project is the 100% owned Kroussou zinc-lead project consisting of one prospecting license covering 986.5 square kilometers located in the Ngounié Province of Western Gabon. The company was incorporated in 2007 and is based in Perth, Australia.

How the Company Makes Money

Apollo Minerals Limited generates revenue primarily through the exploration and development of mineral resource projects. The company's key revenue streams include the sale of mineral rights and interests, as well as potential income from the eventual production and sale of extracted minerals. Apollo Minerals may also enter into joint ventures or partnerships with other mining companies to share the costs and revenues associated with the development of its projects. Additionally, the company may raise funds through equity financing to support its exploration activities. Significant factors contributing to its earnings include the successful identification of mineral deposits, efficient project development, and favorable market conditions for the minerals it targets.

Apollo Minerals Limited Financial Statement Overview

Summary

Income statement and cash flow are the primary weaknesses: revenue is very small and volatile with persistent losses and negative margins, and operating/free cash flow are negative in most years (ongoing cash burn). The main offsetting strength is a debt-free balance sheet, which reduces financial risk despite negative ROE.

Income Statement

Revenue remains very small and volatile (2025 revenue fell ~76% year-over-year after being zero in 2024), while losses are persistent and sizable. Profitability is weak with deeply negative operating and net margins in 2025, indicating the cost base is far above the current revenue level. A positive gross margin in 2025 is a modest bright spot, but overall earnings quality and scale are the key weaknesses.

Balance Sheet

The balance sheet is conservatively positioned with no debt across the periods shown, reducing financial risk and interest burden. However, equity has fluctuated and returns on equity are consistently negative, reflecting ongoing losses that dilute shareholder value over time. Asset levels are relatively stable, but the company’s ability to generate returns from its asset/equity base remains the main concern.

Cash Flow

Cash generation is weak: operating cash flow and free cash flow are negative in most years, including 2025, consistent with a cash-consuming business model at this stage. While free cash flow improved versus 2024 (positive growth off a more negative base), operating cash flow still does not cover net losses, and the company likely relies on external funding or existing cash reserves to sustain operations. The one-off positive free cash flow in 2022 stands out but has not been sustained.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	257.93K	61.37K	0.00	0.00	0.00	29.50K
Gross Profit	257.93K	61.37K	-55.43K	-35.45K	-4.16K	25.90K
EBITDA	-3.69M	-4.44M	-3.30M	-4.02M	-1.82M	-1.18M
Net Income	-2.99M	-4.34M	-2.91M	-4.04M	-1.82M	-1.17M
Balance Sheet
Total Assets	11.25M	10.51M	11.61M	9.76M	11.82M	5.70M
Cash, Cash Equivalents and Short-Term Investments	1.68M	1.26M	2.25M	1.71M	3.69M	3.04M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	715.62K	828.88K	744.20K	538.91K	1.14M	357.64K
Stockholders Equity	10.60M	9.75M	10.93M	9.27M	10.73M	5.39M
Cash Flow
Free Cash Flow	-3.46M	-4.29M	-2.61M	-3.96M	4.24M	-685.57K
Operating Cash Flow	-3.46M	-4.29M	-2.61M	-3.71M	-962.93K	-685.57K
Investing Cash Flow	202.18K	200.00K	-76.55K	-250.00K	-5.21M	-2.07M
Financing Cash Flow	1.30M	3.10M	3.23M	1.98M	6.81M	3.20M

Apollo Minerals Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.01
• 50DMA: Positive
• 100DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:AON, the sentiment is Positive. The current price of 0.01 is below the 20-day moving average (MA) of 0.01, below the 50-day MA of 0.01, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 91.87 is Negative, neither overbought nor oversold. The STOCH value of 96.97 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:AON.

Apollo Minerals 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%
JNO	55 Neutral	AU$8.37M	-6.45	-4.79%	―	―	-47.62%
C29	47 Neutral	AU$5.23M	-0.76	-126.15%	―	―	24.09%
AON	46 Neutral	AU$38.07M	-7.45	-41.95%	―	―	-17.02%
AKN	45 Neutral	AU$15.56M	-1.15	-71.65%	―	―	―
AX8	45 Neutral	AU$8.07M	-100.00	2.22%	―	―	98.11%
MTL	44 Neutral	AU$7.23M	―	―	―	―	50.00%

Apollo Minerals Limited Corporate Events

Apollo Minerals Requests Trading Halt Ahead of Proposed Capital Raising

Apollo Minerals Limited has requested and been granted a voluntary trading halt in its securities on the ASX as it prepares an announcement regarding a proposed capital raising. Trading in the company’s shares will be paused until either the capital-raising announcement is released or normal trading resumes on 30 January 2026, signalling that a potentially significant funding initiative is imminent and may influence the company’s capital structure and future development plans.

The most recent analyst rating on (AU:AON) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Apollo Minerals Limited stock, see the AU:AON Stock Forecast page.

Apollo Minerals Wins Five-Year Reinstatement of High-Grade French Tungsten-Gold Permit

Apollo Minerals has secured the reinstatement of its Couflens exploration permit in southern France for a five-year term, reopening access to the 42km² project area that hosts the historic high-grade Salau tungsten mine and significant associated gold mineralisation. The company highlighted the mine’s strong production history, high-grade tungsten and gold results from historical drilling, channel sampling and rock chips, and the presence of open mineralisation at depth and along a 5km structural corridor, positioning Couflens as a potential strategic European supplier of tungsten amid heightened critical raw materials concerns and supporting Apollo Minerals’ efforts to reassess data and design new exploration programs to unlock project and shareholder value.

The most recent analyst rating on (AU:AON) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Apollo Minerals Limited stock, see the AU:AON Stock Forecast page.

Apollo Minerals Halts Trading Pending Couflens Permit Update

Apollo Minerals Limited has requested a voluntary trading halt of its securities on the ASX pending an announcement regarding an update on the status of its Couflens exploration permit. Trading in the company’s shares will be paused until either the announcement is released or the market opens on 28 January 2026, providing time for the company to clarify the position of a key exploration asset that could influence its project pipeline and investor sentiment.

The most recent analyst rating on (AU:AON) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Apollo Minerals Limited stock, see the AU:AON Stock Forecast page.

Apollo Minerals Limited AGM Results: All Resolutions Passed

Apollo Minerals Limited held its Annual General Meeting on November 18, 2025, where all resolutions were carried by a poll. The successful resolutions include the approval of the Remuneration Report, the re-election of Mr. Robert Behets as a Director, and the approval of an additional 10% placement capacity, indicating strong shareholder support for the company’s strategic direction.

Apollo Minerals Uncovers Gallium and Zinc Riches at Kroussou Project

Apollo Minerals Limited has identified significant gallium and zinc mineralisation at its Kroussou project in Gabon. The discovery of gallium within the sedimentary rocks and surface zinc outcrops in undrilled areas suggests potential for valuable mining credits and further exploration opportunities. This finding could enhance Apollo’s industry positioning, given gallium’s critical role in semiconductor and LED production, and the current global supply dominated by China.