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Golden Rim Resources Ltd (AU:AS1)
ASX:AS1

Golden Rim Resources Ltd (AS1) AI Stock Analysis

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AU:AS1

Golden Rim Resources Ltd

(Sydney:AS1)

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Neutral 50 (OpenAI - 5.2)
Rating:50Neutral
Price Target:
AU$0.12
▲(15.00% Upside)
The score is held back primarily by weak financial performance (recurring losses and ongoing cash burn), with only partial support from a low-debt balance sheet. Technicals are currently positive with strong trend and MACD, but the very high RSI suggests momentum is overextended. Valuation is also a headwind because negative earnings make the P/E less useful and there is no indicated dividend yield.
Positive Factors
Low leverage / zero debt
The company's near-zero debt position and minimal leverage materially reduce refinancing and interest-rate risk. Over a multi-month horizon, this balance sheet conservatism preserves optionality to fund exploration or operations via equity or modest borrowings without immediate solvency pressure.
Substantial equity base
A meaningful equity cushion relative to assets provides long-term capital resilience, enabling the firm to absorb operating losses or invest in projects. This structural capital base supports ongoing strategic choices without forcing immediate asset sales or drastic cost cutting.
ASX listing
Being listed on the ASX offers durable access to public capital markets and an established investor base. Over months, this listing enhances the company's ability to raise equity, execute placements or attract institutional partners to finance exploration or development needs.
Negative Factors
Recurring operating losses
Persistent operating losses indicate the core business is not generating sustainable profits, eroding returns on invested capital. Over a multi-month to medium-term horizon this undermines the case for internal financing of growth and increases pressure on management to change strategy or secure external funding.
Negative and worsening cash flow
Consistent negative operating and free cash flow, worsening in the latest year, signals ongoing cash burn that will force reliance on external financing. Structurally, this raises dilution risk, limits investment flexibility, and can constrain the company’s ability to follow through on long-term projects.
Inconsistent / near-zero revenue
Near-zero and volatile revenue hampers visibility into future earnings and indicates limited commercial traction. Over months, this makes forecasting and planning difficult, reduces operational scale benefits, and increases execution risk for any plans to transition to sustained revenue generation.

Golden Rim Resources Ltd (AS1) vs. iShares MSCI Australia ETF (EWA)

Golden Rim Resources Ltd Business Overview & Revenue Model

Company DescriptionAsara Resources Limited engages in the exploration and development of mineral resource properties in Australia, Guinea and Burkina Faso, and Chile. The company primarily explores for gold, silver, zinc, lead, and copper deposits. Its flagship property is the Kada Gold project located in eastern Guinea. The company was formerly known as Golden Rim Resources Ltd and changed its name to Asara Resources Limited in December 2023. Asara Resources Limited was incorporated in 1987 and is headquartered in Subiaco, Australia.
How the Company Makes Money

Golden Rim Resources Ltd Financial Statement Overview

Summary
Overall financials are weak: recurring losses and inconsistent/near-zero revenue indicate limited operating traction, and operating/free cash flow remain persistently negative with cash burn worsening in 2025. The main offset is a relatively strong balance sheet with low/zero debt and meaningful equity, providing flexibility despite poor profitability.
Income Statement
18
Very Negative
Operating performance remains weak, with recurring losses and negative operating profit in most years. Revenue has been inconsistent (including multiple years at or near zero), which limits visibility and suggests the company is still largely pre-revenue. While 2024 showed positive net income, the business returned to a sizable loss in 2025, highlighting earnings volatility and limited underlying profitability.
Balance Sheet
74
Positive
The balance sheet is a relative strength: leverage is low (including zero debt in 2025 and minimal debt in 2024), and equity is substantial versus the asset base, providing financial flexibility. However, returns on equity are generally negative due to ongoing losses, meaning the capital base is not yet translating into sustainable profitability.
Cash Flow
24
Negative
Cash generation is a key concern: operating cash flow is negative across all reported periods, and free cash flow is also consistently negative, indicating continued cash burn to fund operations and investment. Free cash flow worsened materially in 2025 versus 2024, which increases reliance on external funding over time if the trend persists.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue0.000.000.000.008.41M0.00
Gross Profit-101.58K-101.58K-70.95K-86.84K8.41M-57.58K
EBITDA-1.11M-1.79M-1.32M-8.05M-2.40M-4.37M
Net Income-1.03M-1.46M1.54M-8.07M-2.28M-4.31M
Balance Sheet
Total Assets29.74M29.74M28.21M23.53M21.10M13.42M
Cash, Cash Equivalents and Short-Term Investments3.20M3.20M1.34M1.64M2.61M1.64M
Total Debt0.000.00500.00K0.008.52M0.00
Total Liabilities386.46K386.46K1.68M1.51M696.57K1.46M
Stockholders Equity30.77M30.77M27.93M23.19M22.36M13.82M
Cash Flow
Free Cash Flow-1.08M-4.09M-1.81M-2.25M-5.01M-3.26M
Operating Cash Flow-641.51K-1.50M-1.79M-2.18M-4.89M-3.13M
Investing Cash Flow1.22M85.63K-2.10M-6.60M-7.34M-2.65M
Financing Cash Flow3.17M3.17M3.59M7.81M10.58M5.79M

Golden Rim Resources Ltd Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
54
Neutral
AU$224.74M-64.80-6.23%-100.00%-155.68%
50
Neutral
AU$168.33M-70.00-5.37%
47
Neutral
AU$67.34M-7.39-42.43%307.85%-133.82%
42
Neutral
AU$157.47M-38.10-9.15%-12.00%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:AS1
Golden Rim Resources Ltd
0.11
0.08
356.52%
DE:4W1
White Cliff Minerals Limited
0.01
<0.01
40.00%
TSORF
Tesoro Gold
1.00
0.85
571.14%
AU:HAV
Havilah Resources Limited
0.64
0.42
188.64%
AU:FXG
Felix Gold Ltd.
0.32
0.21
178.26%
AU:VTX
Vertex Minerals Ltd.
0.24
-0.09
-27.69%

Golden Rim Resources Ltd Corporate Events

Asara Reaffirms Resource Base at Kada Gold Project in Guinea
Jan 18, 2026

Asara Resources Limited has released a corporate presentation outlining the status and potential of its Kada Gold Project in Guinea’s Siguiri Basin, positioning the asset as a premier gold development opportunity. The company reconfirms that its previously reported Kada Mineral Resource Estimate and exploration results remain current, with no new data materially affecting the underlying assumptions or technical parameters, which provides continuity and clarity for stakeholders assessing the project’s progress and potential.

The most recent analyst rating on (AU:AS1) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Golden Rim Resources Ltd stock, see the AU:AS1 Stock Forecast page.

Asara Resources Extends Gold Mineralisation at Kada’s Massan Deposit With Strong Drilling Results
Jan 4, 2026

Asara Resources has reported a second tranche of assay results from 16 reverse circulation and diamond drill holes totalling 3,593 metres at the Massan deposit within its Kada Gold Project in Guinea, with broad and continuous gold intercepts that bolster confidence in the existing geological model. The latest drilling has focused on infill and down-dip extension work within and below the current US$1,800/oz pit shell, confirming mineralisation at depth in fresh rock and supporting the conversion of Inferred Resources to Indicated, while a newly commenced Phase 2 program is testing strike extensions to the north and south to grow the overall resource footprint, potentially enhancing the project’s scale and attractiveness for investors and development partners.

The most recent analyst rating on (AU:AS1) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Golden Rim Resources Ltd stock, see the AU:AS1 Stock Forecast page.

Asara Resources Plans Major Securities Issuance
Dec 8, 2025

Asara Resources Limited has announced a proposed issuance of 5,000,000 ordinary fully paid securities, scheduled for October 8, 2026. This move is part of a placement or other type of issue, which could potentially impact the company’s financial positioning and market operations, offering stakeholders new opportunities for investment.

Asara Resources Expands Gold Exploration Portfolio in Guinea
Dec 8, 2025

Asara Resources Limited has announced the acquisition of Arafura Ouest PTE Ltd, which holds two gold exploration permits in Guinea, significantly expanding Asara’s exploration portfolio in the Siguiri Basin to approximately 296 square kilometers. This acquisition, including the Damissa Koura permit adjacent to Asara’s Kada Gold Project, is expected to bolster Asara’s operations by incorporating historical drilling data from Newmont Corporation, which identified extensive gold mineralization zones. The transaction is subject to due diligence and regulatory approvals, and Asara plans to update its Mineral Resource estimate following ongoing drilling campaigns.

Asara Resources Reports Positive Drilling Results at Kada Gold Project
Dec 1, 2025

Asara Resources Limited has announced positive results from its Phase 1 Reverse Circulation drilling program at the Massan deposit within the Kada Gold Project in Guinea. The drilling has confirmed continuity and depth extension of mineralization, with significant gold intersections indicating robust potential for resource expansion. The results bolster geological confidence and suggest promising opportunities for further resource growth, impacting the company’s strategic positioning in the gold exploration industry.

Asara Resources Secures Shareholder Support at AGM, Focuses on Kada Gold Project
Nov 21, 2025

Asara Resources Ltd announced that all resolutions at their Annual General Meeting were passed, indicating strong shareholder support. The company continues to focus on its Kada Gold Project in Guinea, aiming to expand its mineral resource estimate, while seeking to divest other projects to concentrate on this flagship venture.

Asara Resources Announces Leadership Transition and Strategic Focus
Nov 3, 2025

Asara Resources Limited announced the transition of Mr. Timothy Strong from Executive Director – Corporate and Strategy to Non-Executive Director, effective November 1, 2025. Mr. Strong has been instrumental in key company operations, including asset divestment and securing funding. This transition reflects Asara’s strategic focus on its core projects, particularly the Kada Gold Project, and aims to leverage Mr. Strong’s expertise in a non-executive capacity, potentially impacting the company’s strategic direction and stakeholder interests.

Asara Resources Advances Kada Gold Project with Successful Drilling and Funding
Oct 30, 2025

Asara Resources Limited, a West African gold explorer, has completed a A$25 million placement to support its expanded exploration program at the Kada Gold Project in Guinea. The company reported significant progress in its Phase 1 drilling at the Massan Deposit, revealing high-grade continuity and new zones of deeper mineralization. Additionally, Asara has initiated a geochemical soil sampling program at Bamfele and continues to focus on regional greenfields exploration and defining new targets.

Asara Resources Expands Capital Through Strategic Share Issuance
Oct 23, 2025

Asara Resources Limited has issued nearly 50 million fully paid ordinary shares to a sophisticated and institutional investor as part of a placement announced earlier in the year. This move reflects the company’s strategic efforts to enhance its capital base, potentially impacting its exploration activities and market positioning. The issuance of shares without disclosure under specific provisions of the Corporations Act suggests a focus on streamlined financial operations, which could influence stakeholder confidence and investment potential.

Asara Resources Limited Announces New Securities Issuance
Oct 23, 2025

Asara Resources Limited has announced a new issuance of securities, with a total of 2,500,000 ordinary fully paid shares to be quoted on the Australian Securities Exchange (ASX) under the code AS1. This move is part of the company’s strategy to enhance its capital base, potentially impacting its market position and providing additional resources for growth and development.

Asara Resources Limited Announces Quotation of New Securities
Oct 23, 2025

Asara Resources Limited has announced the application for quotation of 49,499,980 fully paid ordinary securities on the Australian Securities Exchange (ASX) under the code AS1. This move is part of a previously announced transaction, which could potentially enhance the company’s market presence and provide additional capital for its operations, thereby impacting its stakeholders positively.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jan 22, 2026