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Ausgold Limited (AU:AUC)
ASX:AUC

Ausgold Limited (AUC) AI Stock Analysis

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AU:AUC

Ausgold Limited

(Sydney:AUC)

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Neutral 46 (OpenAI - 5.2)
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Neutral 46 (OpenAI - 5.2)
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Neutral 46 (OpenAI - 5.2)
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Neutral 46 (OpenAI - 5.2)
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Neutral 46 (OpenAI - 5.2)
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Neutral 46 (OpenAI - 5.2)
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Neutral 46 (OpenAI - 5.2)
Rating:46Neutral
Price Target:
AU$0.83
â–Ľ(-2.00% Downside)
Action:ReiteratedDate:03/21/26
The score is held down primarily by pre-revenue operations with ongoing losses and cash burn, despite a low-debt balance sheet. Technically, the stock is in a downtrend (below key moving averages) with weak momentum, and valuation is constrained by negative earnings and no dividend support.
Positive Factors
Low leverage / strong solvency
A very low debt burden and a grown equity base materially reduce near-term solvency risk and preserve financial flexibility. This durable balance-sheet strength lets the company fund exploration and respond to financing windows or partner proposals without immediate default pressure, improving resilience over the next several months.
Sizable asset/equity base
A meaningful asset and equity base provides runway and optionality for an explorer: it supports continued project advancement, acts as a signal to potential JV/farm-out partners, and can be used to underpin structured transactions. This structural strength underpins partnerability and near-term project funding options.
Clear monetization pathways beyond production
The company's explicit reliance on capital raisings combined with potential farm-outs, JV arrangements and asset sales is a durable business model feature. These multiple monetization channels allow de‑risking and external funding of development stages, enabling project progress without immediate production revenue.
Negative Factors
Pre-revenue operating model
Being pre-revenue is a structural constraint: the company cannot self-fund operating or development activities from product sales and remains dependent on external capital. Over a 2–6 month horizon this maintains financing risk, extends time to value realization, and increases sensitivity to capital-marketing cycles.
Persistent negative cash flow and cash burn
Material negative operating and free cash flow indicate ongoing cash consumption to fund exploration and overhead. Even with some FCF improvement year-over-year, the structural cash burn requires recurring financing, raises dilution risk and can delay project milestones if capital access tightens over the coming months.
Widening losses and negative ROE
Worsening net losses and a negative return on equity reflect that invested capital is not generating positive returns. This structural profitability gap increases pressure for capital raises or asset sales, risks shareholder dilution, and constrains strategic optionality until projects move closer to value-creating milestones.

Ausgold Limited (AUC) vs. iShares MSCI Australia ETF (EWA)

Ausgold Limited Business Overview & Revenue Model

Company DescriptionAusgold Limited explores for gold and other precious metals. The company's flagship property is the Katanning gold project, which covers approximately 4,000 square kilometers located in Katanning greenstone belt in south-western Western Australia. It also explores for copper, iron, nickel, chromium, and sulphide deposits. Ausgold Limited was incorporated in 2009 and is based in Perth, Australia.
How the Company Makes MoneyAusgold’s business model is typical of a pre-production gold explorer/developer: it generally does not generate recurring operating revenue from selling gold unless and until it places a project into production. Instead, it funds exploration and project advancement primarily through capital raising (e.g., equity issuance) and may potentially generate project-related proceeds through transactions such as asset sales, farm-out/joint venture arrangements, or the sale/transfer of project interests and associated exploration data if undertaken. Revenue from gold sales would only occur if the company develops or acquires a producing operation; specific details on current production revenue, offtake agreements, or material commercial partnerships are null.

Ausgold Limited Financial Statement Overview

Summary
Overall financials are weak due to being pre-revenue with widening net losses and persistent negative operating/free cash flow, indicating ongoing funding dependence. This is partially offset by a strong balance sheet with very low leverage and a sizable equity base that supports near-term solvency.
Income Statement
12
Very Negative
Ausgold Limited remains pre-revenue with revenue at $0 in FY2024 and FY2025 (down from a small $49.5k in FY2023), and losses have widened over the last two years (net loss of -$10.7m in FY2025 vs -$8.3m in FY2024). Operating performance is consistently negative, with EBIT and EBITDA losses deepening in FY2025, indicating continued cost absorption without meaningful revenue scale. Strengths are limited in the income statement given the lack of revenue and persistent negative profitability.
Balance Sheet
78
Positive
The balance sheet is a relative strength: leverage is very low with debt-to-equity at ~0.4% in FY2025 (and ~3.3% in FY2024), and equity has grown to ~$98.3m alongside ~$103.8m in total assets. This capital structure provides flexibility and reduces near-term solvency risk. The key weakness is ongoing negative returns on equity (about -10.9% in FY2025), reflecting continued losses that dilute shareholder value despite a strong equity base.
Cash Flow
22
Negative
Cash generation is weak and consistent with an early-stage explorer/developer profile: operating cash flow is negative across all periods (about -$2.46m in FY2025), and free cash flow is materially negative (about -$13.6m in FY2025). Free cash flow improved versus FY2024 (less negative), but still indicates heavy cash burn and ongoing funding dependence. A mitigating factor is that cash outflows are investment/overhead driven rather than debt-servicing pressure, given the low leverage.
BreakdownTTMJun 2025Jun 2024Jun 2023Jun 2022Jun 2021
Income Statement
Total Revenue0.000.000.0049.52K1.89K1.15K
Gross Profit-334.00K-1.71M-368.41K-257.51K-137.79K-159.72K
EBITDA-9.62M-6.27M-7.75M-4.87M-2.43M-3.34M
Net Income-12.31M-10.75M-8.34M-5.23M-2.59M-3.51M
Balance Sheet
Total Assets210.64M103.83M89.44M81.55M73.97M59.91M
Cash, Cash Equivalents and Short-Term Investments75.60M12.03M5.00M9.54M11.05M7.61M
Total Debt314.96K428.35K2.78M1.02M119.25K196.36K
Total Liabilities23.51M5.51M5.32M2.95M2.20M1.81M
Stockholders Equity187.13M98.32M84.12M78.59M71.78M58.10M
Cash Flow
Free Cash Flow-31.42M-13.60M-19.57M-12.75M-12.13M-9.89M
Operating Cash Flow-2.75M-2.46M-2.56M-2.24M-1.14M-1.07M
Investing Cash Flow-34.57M-11.13M-16.90M-10.57M-11.02M-8.83M
Financing Cash Flow94.24M20.62M15.05M11.29M15.63M16.33M

Ausgold Limited Technical Analysis

Technical Analysis Sentiment
Negative
Last Price0.85
Price Trends
50DMA
1.10
Negative
100DMA
1.02
Negative
200DMA
0.89
Negative
Market Momentum
MACD
-0.04
Positive
RSI
29.44
Positive
STOCH
0.64
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:AUC, the sentiment is Negative. The current price of 0.85 is below the 20-day moving average (MA) of 1.10, below the 50-day MA of 1.10, and below the 200-day MA of 0.89, indicating a bearish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 29.44 is Positive, neither overbought nor oversold. The STOCH value of 0.64 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:AUC.

Ausgold Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
72
Outperform
AU$291.20M2.5813.25%3.30%48.57%666.83%
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
51
Neutral
AU$1.66B-1.53-63.71%――70.81%
47
Neutral
AU$315.18M-55.21-1.74%――28.13%
46
Neutral
AU$465.68M-15.19-8.63%――1.60%
43
Neutral
AU$373.22M-1.98-42.80%―3078.36%-93.66%
40
Neutral
AU$215.25M-2.47-288.35%――-965.24%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:AUC
Ausgold Limited
0.85
0.32
61.90%
AU:TBR
Tribune Resources Limited
5.55
1.03
22.81%
AU:AAR
Astral Resources NL
0.18
0.01
9.37%
AU:DTR
Dateline Resources Limited
0.46
0.45
4450.00%
AU:POL
Polymetals Resources Ltd.
0.70
-0.13
-15.66%
AU:BTR
Brightstar Resources Limited
0.34
-0.16
-32.00%

Ausgold Limited Corporate Events

JPMorgan Ceases to Be Substantial Holder in Ausgold Limited
Mar 17, 2026

JPMorgan Chase & Co. and its affiliates have lodged a notice that they have ceased to be a substantial holder in Ausgold Limited as of 13 March 2026. The change in substantial holding status follows transactions including rehypothecation of client securities under a prime brokerage agreement and principal trading activity in Ausgold shares by J.P. Morgan Securities Plc and J.P. Morgan Securities Australia Limited.

The move indicates that JPMorgan’s collective voting power in Ausgold has fallen below the substantial holder threshold, potentially altering the company’s institutional shareholder mix. While no rationale was provided, such changes can affect market perceptions of liquidity and support in the stock, and may prompt other investors to reassess their positions in the small-cap resources company.

The most recent analyst rating on (AU:AUC) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Ausgold Limited stock, see the AU:AUC Stock Forecast page.

Ausgold Expands Katanning Drilling After Strong Gold Intercepts
Mar 2, 2026

Ausgold Limited has expanded its drilling campaign at the Katanning Gold Project to 54,000 metres after strong reverse circulation and diamond drilling results from the Central and Southern Zones, including broad and high-grade intercepts at the Jinkas, White Dam and Dingo deposits. With 33,588 metres already completed and about 12,000 metres of assays pending, the company is adding a fifth drill rig to accelerate deep drilling at Jinkas and Datatine, aiming to extend mineralisation beyond the current 2.44-million-ounce resource and improve confidence in early mine-life areas, which could underpin future resource growth and enhance the project’s development prospects.

The most recent analyst rating on (AU:AUC) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Ausgold Limited stock, see the AU:AUC Stock Forecast page.

Ausgold Releases Interim Financial Report for Half-Year to 31 December 2025
Feb 19, 2026

Ausgold Limited has released its interim financial report for the half-year ended 31 December 2025, detailing its financial performance, position, cash flows and changes in equity over the period. The report provides stakeholders with updated insight into the company’s capital structure and operational funding, forming a basis for assessing its progress on exploration and development initiatives and its financial resilience amid sector conditions.

The most recent analyst rating on (AU:AUC) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Ausgold Limited stock, see the AU:AUC Stock Forecast page.

Ausgold Seeks ASX Quotation for 200,000 New Ordinary Shares
Feb 2, 2026

Ausgold Limited has applied for quotation on the ASX of 200,000 new ordinary fully paid shares, issued following the exercise or conversion of existing options or other convertible securities. The relatively small share issue modestly increases the company’s quoted capital base and reflects ongoing utilisation of equity-based instruments, with limited immediate impact on overall capital structure but incremental dilution for existing shareholders.

The most recent analyst rating on (AU:AUC) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Ausgold Limited stock, see the AU:AUC Stock Forecast page.

Ausgold Issues New Shares Under Employee Incentive Plan and Confirms Regulatory Compliance
Feb 2, 2026

Ausgold Limited has issued 200,000 fully paid ordinary shares following the exercise and conversion of performance rights under its Employee Incentive Plan, effectively increasing its share capital through an equity-based remuneration mechanism. The company has confirmed that the shares were issued without a prospectus under the statutory exemption in section 708A of the Corporations Act, and has certified its compliance with continuous disclosure and financial reporting obligations, with no excluded information requiring disclosure, thereby supporting regulatory transparency and clarifying the status of these new securities for investors and the market.

The most recent analyst rating on (AU:AUC) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Ausgold Limited stock, see the AU:AUC Stock Forecast page.

Ausgold Extends High-Grade Gold Mineralisation at Katanning as Four-Rig Drilling Campaign Ramps Up
Jan 26, 2026

Ausgold has reported new assay results from a further 55 reverse circulation drill holes totaling 8,179 metres at the Central Zone of the Katanning Gold Project, confirming existing mineralisation and extending high-grade gold mineralisation beyond the limits of the current Mineral Resource and open-pit designs. The in-fill drilling results are broadly consistent with, and in places exceed, the existing resource model, underpinning confidence in the current mine plan, while step-out drilling demonstrates clear potential for resource growth down-dip and outside the present pit shells; with four rigs now active on site and 13,031 metres drilled to date in a 44,000-metre program, the company is accelerating drilling aimed at resource growth, reserve conversion and improved early mine-life certainty ahead of an updated Mineral Resource estimate, reinforcing Katanning’s growth profile for investors and other stakeholders.

The most recent analyst rating on (AU:AUC) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Ausgold Limited stock, see the AU:AUC Stock Forecast page.

Ausgold Seeks ASX Quotation for 1.52 Million New Ordinary Shares
Jan 20, 2026

Ausgold Limited has applied to the ASX for quotation of 1,520,000 new fully paid ordinary shares under code AUC, following the exercise or conversion of existing options or other convertible securities. The issuance, dated 19 January 2026, modestly increases the company’s quoted capital base and may enhance liquidity in its shares, though the announcement does not provide further operational or strategic details around the new securities.

The most recent analyst rating on (AU:AUC) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Ausgold Limited stock, see the AU:AUC Stock Forecast page.

Ausgold Issues 1.52 Million New Shares via Option Conversion
Jan 20, 2026

Ausgold Limited has issued 1,520,000 fully paid ordinary shares following the exercise and conversion of unlisted options on 19 January 2026, increasing its total shares on issue without undertaking a new public disclosure document. The company confirmed it remains compliant with key reporting and continuous disclosure obligations under the Corporations Act and stated there is no undisclosed price-sensitive information, signalling to investors that the new shares can trade freely on the ASX without additional prospectus-style disclosure requirements.

The most recent analyst rating on (AU:AUC) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Ausgold Limited stock, see the AU:AUC Stock Forecast page.

Ausgold Issues 768,750 Unquoted Performance Rights Under Employee Incentive Scheme
Jan 16, 2026

Ausgold Limited has notified the market of the issue of 768,750 unquoted performance rights under its employee incentive scheme, with an issue date of 13 January 2026. The new performance rights, which will not be quoted on the ASX, form part of Ausgold’s incentive arrangements aimed at aligning staff remuneration with company performance and shareholder interests, and may lead to future share dilution if vesting conditions are met.

The most recent analyst rating on (AU:AUC) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Ausgold Limited stock, see the AU:AUC Stock Forecast page.

Ausgold Increases Director John Dorward’s Equity Stake Through New Performance Rights
Jan 16, 2026

Ausgold Limited has disclosed a change in director John Dorward’s relevant interests, following the issue of 768,750 performance rights to an entity associated with him, Gumnut Pty Ltd as trustee for The Maple Trust. The performance rights, granted for non-cash consideration and approved by shareholders at an extraordinary general meeting on 12 January 2026, increase Dorward’s total performance rights holding in Ausgold, further aligning his incentives with shareholder interests and signalling continued use of equity-based remuneration in the company’s governance framework.

The most recent analyst rating on (AU:AUC) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Ausgold Limited stock, see the AU:AUC Stock Forecast page.

Ausgold Completes $30 Million Share Placement to Professional Investors
Jan 15, 2026

Ausgold Limited has completed the issue of 37.5 million fully paid ordinary shares to new and existing professional and sophisticated investors at an issue price of $0.80 per share under a previously announced placement. The company has confirmed that the placement was conducted without a full disclosure document under the relevant provisions of the Corporations Act and that it remains compliant with its continuous disclosure and financial reporting obligations, with no undisclosed material information required to be released at this time.

The most recent analyst rating on (AU:AUC) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Ausgold Limited stock, see the AU:AUC Stock Forecast page.

Ausgold Boosts Katanning Gold Project Economics and Advances Toward Development
Jan 15, 2026

Ausgold Limited has delivered an updated Definitive Feasibility Study for its 2.44-million-ounce Katanning Gold Project in Western Australia, showing higher forecast life-of-mine production of 1.22 million ounces, stronger early-year output, lower all-in sustaining costs and materially improved project economics. The company has also strengthened its funding and project de-risking by completing an underwritten A$80 million placement and a A$10 million share purchase plan to support pre-development activities, advancing key permitting with inclusion in the WA Government’s Priority Approvals Program, securing long-term land access for accommodation and development footprints, and launching a 44,000-metre drilling campaign that is already delivering encouraging high-grade results and supporting the potential for further resource growth ahead of a targeted final investment decision by mid-2026.

The most recent analyst rating on (AU:AUC) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Ausgold Limited stock, see the AU:AUC Stock Forecast page.

Ausgold Seeks ASX Quotation for 37.5 Million New Shares
Jan 14, 2026

Ausgold Limited has applied to the ASX for quotation of 37.5 million new ordinary fully paid shares, to be issued on 16 January 2026 under its existing capital management and listing arrangements. The additional securities, lodged via an Appendix 2A, will expand the company’s quoted share capital and may have implications for its funding flexibility and shareholder dilution, although no further operational context or use of proceeds was disclosed in the filing.

The most recent analyst rating on (AU:AUC) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Ausgold Limited stock, see the AU:AUC Stock Forecast page.

Ausgold Shareholders Back Capital Raising and Chairman Incentives at Extraordinary Meeting
Jan 12, 2026

Ausgold Limited has reported the results of its Extraordinary General Meeting held on 12 January 2026, where shareholders strongly endorsed a series of capital management and incentive resolutions. Investors overwhelmingly ratified the prior issue of 62.5 million shares under Tranche 1 of a placement and approved the issue of a further 37.5 million shares under Tranche 2, confirming broad support for the company’s recent capital raising initiatives. Shareholders also backed the grant of 768,750 performance rights to Executive Chairman John Dorward, reflecting alignment between management incentives and shareholder interests as Ausgold advances its strategic plans.

The most recent analyst rating on (AU:AUC) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Ausgold Limited stock, see the AU:AUC Stock Forecast page.

Ausgold Issues New Shares Following Option Conversion and Lodges Cleansing Notice
Dec 30, 2025

Ausgold Limited has issued 50,000 fully paid ordinary shares following the exercise and conversion of unlisted options on 30 December 2025, and has lodged a cleansing notice under Section 708A(5)(e) of the Corporations Act 2001 to enable on-sale of these shares without a prospectus. The company confirmed it has met all relevant financial reporting and continuous disclosure obligations and that there is no undisclosed material information, signalling regulatory compliance and transparency for investors regarding the new share issuance.

The most recent analyst rating on (AU:AUC) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Ausgold Limited stock, see the AU:AUC Stock Forecast page.

Franklin Resources Falls Below Substantial Holder Threshold in Ausgold
Dec 28, 2025

Franklin Resources, Inc. and its affiliates have notified Ausgold Limited that they have ceased to be a substantial holder in the company, lodging a Form 605 after a change in their relevant interest in Ausgold’s ordinary shares. While their absolute shareholding increased from 22.57 million to 25.13 million shares, their voting power fell below the substantial holding threshold, dropping from 5.43% to 4.94% as Ausgold’s total shares on issue rose, signalling a dilution of their relative influence on corporate decisions and a shift in the company’s shareholder landscape that may be closely watched by other investors.

The most recent analyst rating on (AU:AUC) stock is a Buy with a A$1.70 price target. To see the full list of analyst forecasts on Ausgold Limited stock, see the AU:AUC Stock Forecast page.

Ausgold Director Increases Indirect Shareholding via Share Purchase Plan
Dec 23, 2025

Ausgold Limited has disclosed a change in director Paul Weedon’s indirect interests in the company’s securities, as required under ASX listing rules. Through Wylie Weedon Pty Ltd as trustee for the Wylie Weedon Family Trust, Weedon acquired 24,439 fully paid ordinary shares on 23 December 2025 via participation in Ausgold’s share purchase plan, lifting his indirect holding to 199,878 ordinary shares while retaining 872,354 performance rights. The transaction, valued at $19,551.20 at $0.80 per share, signals continued director support for the company’s capital-raising initiative, which may be viewed positively by shareholders as an indication of confidence in Ausgold’s outlook and alignment of director and investor interests.

The most recent analyst rating on (AU:AUC) stock is a Buy with a A$1.70 price target. To see the full list of analyst forecasts on Ausgold Limited stock, see the AU:AUC Stock Forecast page.

Ausgold Director Increases Stake via Share Purchase Plan
Dec 23, 2025

Ausgold Limited has disclosed a change in the interests of director Mark Barlow Turner, who increased his direct holding in the company through participation in Ausgold’s Share Purchase Plan announced in November 2025. Turner acquired 8,146 fully paid ordinary shares at $0.80 per share, lifting his direct shareholding to 308,146 ordinary shares while maintaining 1,000,000 performance rights, a move that modestly strengthens director alignment with shareholders and reflects ongoing support for the company’s capital raising initiatives.

The most recent analyst rating on (AU:AUC) stock is a Buy with a A$1.70 price target. To see the full list of analyst forecasts on Ausgold Limited stock, see the AU:AUC Stock Forecast page.

Ausgold Seeks ASX Quotation for 12.5 Million New Shares
Dec 23, 2025

Ausgold Limited has applied to the Australian Securities Exchange for the quotation of 12.5 million new fully paid ordinary shares under its AUC ticker, expanding its listed securities base. The issuance, made under a previously announced transaction, modestly increases the company’s equity capital and free float, potentially improving liquidity in its stock and slightly diluting existing shareholders while supporting Ausgold’s ongoing corporate and operational funding needs.

The most recent analyst rating on (AU:AUC) stock is a Buy with a A$1.70 price target. To see the full list of analyst forecasts on Ausgold Limited stock, see the AU:AUC Stock Forecast page.

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: Mar 21, 2026