Australian Silica Quartz Group (ASQ) AI Stock Analysis

• Market Cap: AU$5.92M
• Dividend Yield: N/A
• Average Volume (3M): 66.22K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.00
• Revenue Growth: N/A
• EPS Growth: -134.48%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Aluminum
• EPS (TTM): >-0.01
• Shares Outstanding: 281,860,380
• 10 Day Avg. Volume: 104,503
• 30 Day Avg. Volume: 66,218
• PEG Ratio: -0.02
• Price to Book (P/B): 1.05
• Price to Sales (P/S): 16.53
• P/FCF Ratio: -2.90
• 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: 51 Neutral
• Price Target: AU$0.02 ▲(5.00% Upside)

The score is held back primarily by persistent losses and ongoing cash burn (financial performance), with valuation also constrained by negative earnings (negative P/E). These risks are partly offset by constructive technical momentum, with the stock trading above key moving averages and a positive MACD.

Positive Factors

Conservative balance sheet / no debt

No reported debt materially reduces financial risk and preserves optionality. Over a multi-month horizon this solvency allows the company to endure revenue volatility, access financing on better terms if needed, and prioritize operational rebuilding without immediate leverage constraints.

Sharp FY2025 revenue rebound

A pronounced top-line rebound indicates renewed demand or successful commercial execution. If sustained, higher sales provide the scale needed to absorb fixed costs, improve operating leverage, and create a realistic pathway to turning high gross margins into positive operating profits over the medium term.

High gross margins

Consistently very strong gross margins imply favorable product economics and pricing power. Over 2–6 months this structural margin advantage gives management room to invest in sales, R&D or distribution, and means scaling revenue could meaningfully reduce net losses if operating expenses are controlled.

Negative Factors

Structural unprofitability

Persistent operating and extreme net losses indicate the core business model currently fails to generate profits. Over the medium term this undermines equity building, makes self-funding unlikely, and forces reliance on external capital until the company can demonstrably convert top-line growth into operating profitability.

Consistent negative cash flow

Repeated negative operating and free cash flow creates ongoing funding risk; the company cannot self-fund growth or losses. Over months this raises the likelihood of equity raises or asset sales, which can dilute shareholders and distract management from execution and long-term strategy.

Declining equity & negative ROE

Declining equity and sustained negative ROE signal that the company is destroying shareholder value rather than creating it. Structurally, this weakens the balance sheet buffer, hampers the ability to attract investment, and raises questions about management's ability to deploy capital profitably.

Australian Silica Quartz Group Business Overview & Revenue Model

Company Description

Australian Silica Quartz Group Ltd., together with its subsidiaries, engages in the acquisition, exploration, and development of hard rock quartz and high-grade silica sand. It primarily focuses on exploring the Silica Sands projects around Gingin, Albany, and Esperance. The company also holds interests in hardrock quartz projects that consist of 10 granted exploration licenses and 2 applications covering approximately 1,128 square kilometers within Western Australia and Queensland. In addition, it focuses on exploring nickel, copper, and platinum group elements, as well as bauxite. The company was formerly known as Bauxite Resources Limited and changed its name to Australian Silica Quartz Group Ltd. in November 2019. Australian Silica Quartz Group Ltd. was incorporated in 2006 and is based in Subiaco, Australia.

How the Company Makes Money

ASQ generates revenue primarily through the sale of high-purity silica sand and quartz, which are essential inputs for industries such as glass manufacturing, construction, and electronics. The company's key revenue streams include contracts with domestic and international buyers who require silica sand as a raw material for their production processes. Additionally, ASQ may engage in strategic partnerships or joint ventures with other mining entities to enhance its market reach and operational capabilities. Factors contributing to ASQ's earnings include the global demand for silica-based products, efficient mining and processing operations, and the ability to maintain high-quality standards that meet industry specifications.

Australian Silica Quartz Group Financial Statement Overview

Summary

Despite a sharp FY2025 revenue rebound, the company remains structurally unprofitable with very large net losses and consistently negative returns on equity. Cash flow is a major weakness with recurring operating/free cash burn, partially offset by a strong solvency position (no reported debt).

Income Statement

Revenue is highly volatile but showed a sharp jump in FY2025 (up ~288% YoY), following uneven growth in prior years. Despite strong reported gross margins (generally ~86%–100%), the company remains structurally unprofitable with persistent operating losses and deeply negative net margins (FY2025 net margin ~-703%). Overall, the income statement shows improving top-line momentum in the latest year, but profitability remains a major weakness.

Balance Sheet

The balance sheet is conservatively levered with no reported debt across all periods, which materially reduces financial risk. However, equity has declined in FY2025 (likely reflecting ongoing losses), and returns on equity are consistently negative (FY2025 ROE ~-45%), indicating the business is not currently generating shareholder returns. Net-net: strong from a solvency standpoint, weaker on value creation and trend in equity.

Cash Flow

Cash generation is a key concern: operating cash flow and free cash flow are negative in every year shown, with a significant burn in FY2025 (operating/free cash flow about -1.56M) and a sharp deterioration versus FY2024 (free cash flow growth ~-239%). While cash outflows broadly track reported losses (free cash flow to net income ~1x), the company has not demonstrated an ability to self-fund operations, raising ongoing funding risk over time.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	52.01K	273.48K	70.54K	67.77K	102.33K	76.56K
Gross Profit	45.54K	273.48K	70.54K	58.62K	99.03K	71.89K
EBITDA	-1.95M	-1.91M	-810.00K	-2.24M	-1.78M	-1.19M
Net Income	-1.92M	-1.92M	-831.00K	-2.25M	-1.80M	-1.19M
Balance Sheet
Total Assets	4.41M	4.41M	6.07M	6.89M	7.42M	8.48M
Cash, Cash Equivalents and Short-Term Investments	836.76K	836.76K	2.40M	2.96M	4.76M	5.84M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	100.91K	100.91K	254.55K	1.28M	142.51K	108.31K
Stockholders Equity	4.31M	4.31M	5.81M	5.61M	7.27M	8.37M
Cash Flow
Free Cash Flow	-1.56M	-1.56M	-555.43K	-1.80M	-1.06M	-1.02M
Operating Cash Flow	-1.56M	-1.56M	-552.38K	-1.74M	-1.06M	-1.02M
Investing Cash Flow	0.00	0.00	-12.06K	-54.13K	-4.00K	-709.00
Financing Cash Flow	0.00	0.00	-135.00	-2.37K	-7.49K	3.58M

Australian Silica Quartz Group Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.02
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:ASQ, the sentiment is Neutral. The current price of 0.02 is below the 20-day moving average (MA) of 0.02, above the 50-day MA of 0.02, and above the 200-day MA of 0.02, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 51.15 is Neutral, neither overbought nor oversold. The STOCH value of 16.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:ASQ.

Australian Silica Quartz Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CAA	78 Outperform	AU$189.56M	6.03	15.05%	3.09%	3.57%	14.89%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
ABX	52 Neutral	AU$26.85M	-6.03	-25.50%	―	-100.00%	-182.93%
ASQ	51 Neutral	AU$5.92M	-3.09	-37.39%	―	―	-134.48%
ENX	50 Neutral	AU$76.86M	-16.67	-61.77%	―	―	-45.08%
GES	44 Neutral	AU$4.70M	-3.45	-63.22%	―	―	-7.41%
MML	40 Underperform	AU$8.85M	-1.17	-81.83%	―	―	―

Australian Silica Quartz Group Corporate Events

Australian Silica Quartz Reports Strong Quartz Grades and Advances High-Purity Trials

Australian Silica Quartz Group has reported encouraging results from its 100%-owned Gilbert Ranges MGSi Quartz Project in Far North Queensland, where 26 rock chip samples taken over a 1.3km hillside returned strong grades, including 15 samples assaying above 99.4% SiO2 with low iron and alumina. The company has lodged an exploration permit application over the area and plans further exploration, highlighting the project’s logistical advantage within trucking distance of the Townsville export port and the proposed Lansdown Critical Minerals Processing facilities. In parallel, ASQ is advancing high purity quartz metallurgical trials at its Lake Seabrook (WA) and Airport Blow (QLD) projects, with independent laboratory work in China and Western Australia delivering quartz powders of 99.993–99.994% SiO2 using its proprietary flowsheet, and ongoing R&D aimed at pushing product quality towards crucible-grade specifications starting around 99.997% SiO2, which could enhance the company’s position in premium quartz markets if successfully achieved.

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

Australian Silica Quartz Group Cancels 1 Million Unvested Performance Rights

Australian Silica Quartz Group Ltd has announced the cessation of 1,000,000 ASQAA performance rights after the conditions attached to these securities were not met or became incapable of being satisfied, effective 2 January 2026. The lapse of these conditional rights reduces the company’s potential future share dilution and slightly simplifies its capital structure, with limited immediate operational impact but relevance for existing and prospective shareholders monitoring equity-based incentives and issued capital levels.

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

Australian Silica Quartz Group Announces Departure of Director Pengfei Zhao

Australian Silica Quartz Group Limited has announced that director Pengfei Zhao ceased to be a director of the company effective 2 January 2026. In connection with his departure, Zhao’s 1,000,000 Tranche 3 Performance Rights will lapse upon cessation of employment, while his indirect interest via his wife, who holds 1,000,000 fully paid ordinary shares, remains unchanged, signalling only a governance and remuneration adjustment rather than a broader shift in the company’s capital structure.

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

Australian Silica Quartz Group Announces Resignation of Non-Executive Director

Australian Silica Quartz Group has announced the immediate resignation of non-executive director Pengfei (Yorke) Zhao from its board, ending his five-year tenure with the company. Non-executive chair Robert Nash thanked Zhao for his contributions and extended well wishes for his future endeavours, with the move representing a board refresh but no indication of broader strategic or operational changes at this stage.

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

Australian Silica Quartz Group Announces Director’s Interest Change

Australian Silica Quartz Group Ltd announced a change in the director’s interest, specifically regarding Robert Nash’s holdings. On December 4, 2025, 1,000,000 Tranche 2 Performance Rights expired without meeting the performance hurdle, leaving Nash with 1,245,714 fully paid ordinary shares and 1,000,000 Tranche 3 Performance Rights. This change reflects a reduction in potential future equity for Nash, which may influence his financial stake and the company’s executive compensation structure.

Australian Silica Quartz Group Announces Cessation of Performance Rights

Australian Silica Quartz Group Ltd announced the cessation of 8,666,665 performance rights due to unmet conditions, as per the recent notification. This development may impact the company’s capital structure and could influence stakeholder perceptions regarding future performance and strategic direction.

Sandon Capital Ceases Substantial Holding in Australian Silica Quartz Group

Sandon Capital Pty Limited has ceased to be a substantial holder in Australian Silica Quartz Group Ltd as of December 3, 2025. This change in substantial holding was due to an on-market sale of 44,368,020 shares by Sandon Capital Investments Limited, amounting to $842,992. The cessation of substantial holding may impact the company’s shareholder structure and potentially influence its market dynamics.

Australian Silica Quartz Group Announces 2025 AGM Results

At the 2025 Annual General Meeting, Australian Silica Quartz Group Limited announced the results of three resolutions. Resolution 1, concerning the adoption of the remuneration report, was defeated, while Resolutions 2 and 3, regarding the re-election of directors Mr. Luke Atkins and Mr. Neil Lithgow, were passed. This outcome indicates a mixed response from shareholders, potentially impacting the company’s governance and strategic direction.