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Black Canyon Limited
(Sydney:BCA)
Black Canyon Limited (BCA) vs. iShares MSCI Australia ETF (EWA)
Black Canyon Limited Business Overview & Revenue Model
Black Canyon Limited Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 273.35K | 273.35K | 513.24K | 40.63K | 13.04K | 6.79K |
| Gross Profit | 273.35K | 273.35K | 513.24K | 21.48K | 5.03K | 6.79K |
| EBITDA | 1.58M | 1.58M | -759.77K | -2.00M | -1.20M | -837.64K |
| Net Income | 378.75K | 378.75K | -1.99M | -2.02M | -1.21M | -841.90K |
Balance Sheet | ||||||
| Total Assets | 10.23M | 10.23M | 6.31M | 6.14M | 8.28M | 5.35M |
| Cash, Cash Equivalents and Short-Term Investments | 2.22M | 2.22M | 669.04K | 1.13M | 4.75M | 4.78M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 327.82K | 327.82K | 264.58K | 540.53K | 897.48K | 342.06K |
| Stockholders Equity | 9.90M | 9.90M | 6.05M | 5.60M | 7.39M | 5.01M |
Cash Flow | ||||||
| Free Cash Flow | -1.92M | -1.92M | -2.26M | -3.62M | -3.07M | -373.03K |
| Operating Cash Flow | -857.85K | -857.85K | -733.62K | -1.23M | -1.09M | -337.30K |
| Investing Cash Flow | -1.06M | -1.06M | -1.52M | -2.40M | -1.98M | -35.74K |
| Financing Cash Flow | 3.44M | 3.44M | 1.80M | 0.00 | 3.04M | 5.09M |
Black Canyon Limited Technical Analysis
Black Canyon Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
50 Neutral | AU$62.85M | 102.63 | 4.75% | ― | ― | ― | |
47 Neutral | AU$13.60M | ― | -5.71% | ― | ― | 16.67% | |
42 Neutral | AU$15.86M | -8.47 | -4.46% | ― | ― | 4.49% | |
41 Neutral | AU$20.80M | -16.67 | -43.49% | ― | ― | -7.14% |
Black Canyon Limited Corporate Events
Black Canyon Limited has completed its PQ3 diamond drill core program, delivering 2,000kg of core samples for metallurgical testwork, and conducted a heritage survey to facilitate major drilling programs at the Wandanya Project. The company plans to commence a 15,000m drilling program at Wandanya and a 5,000m maiden drill program at Wandanya South in 2026, aiming to expand the mineralisation footprint and enhance resource growth potential.
Black Canyon Limited has announced the issuance of 1,300,000 performance rights as part of an employee incentive scheme. These unquoted equity securities are not intended to be listed on the ASX, reflecting the company’s strategy to incentivize and retain key personnel, potentially impacting its operational efficiency and market competitiveness.
Black Canyon Limited has announced the cessation of 400,000 performance rights due to the lapse of conditional rights that have not been, or have become incapable of being, satisfied as of November 30, 2025. This announcement may impact the company’s issued capital and could have implications for stakeholders regarding the company’s future performance and strategic direction.
Black Canyon Limited announced significant assay results from its recently acquired Wandanya South tenement, indicating a potential 1.8km extension of high-grade manganese and iron mineralization. The results suggest a continuation of the mineralized horizon south of the existing Wandanya discovery, with plans for further drilling in 2026 to expand the mineralization footprint. This development strengthens Black Canyon’s position in the manganese exploration sector and highlights the potential scale of the Wandanya system, which could extend up to 9km.
Black Canyon Limited has announced a change in the director’s interest, specifically involving Brendan Cummins. The change involves the acquisition of 1,000,000 Performance Rights set to expire on November 18, 2028, which were approved by shareholders at the company’s AGM. This adjustment in the director’s interest reflects the company’s ongoing governance and shareholder engagement practices.
Black Canyon Limited, listed on the ASX under the code BCA, announced that all resolutions proposed at its Annual General Meeting held on November 18, 2025, were passed by shareholders. The resolutions, which were decided by poll, included the adoption of the remuneration report, re-election of directors, and approval of various securities issuances. The successful passing of these resolutions indicates strong shareholder support for the company’s strategic decisions and governance practices.
Black Canyon Limited has achieved transformative exploration success in 2025, marked by significant manganese and iron discoveries at its Wandanya Project in Western Australia. The company has completed multiple drill phases, confirming the project’s quality and scale, with plans for extensive drilling to further explore the manganese and iron systems. Additionally, a robust Scoping Study for the Balfour Manganese Field indicates a 16-year mine life with substantial financial potential. Supported by successful capital raisings, Black Canyon is well-funded to continue its aggressive exploration and development programs, focusing on unlocking the full potential of the Wandanya Project.
Black Canyon Limited has announced that its Managing Director, Brendan Cummins, will present at the Noosa Mining Conference. This presentation is part of the company’s efforts to enhance its visibility and attract potential investors, which could have significant implications for its market positioning and stakeholder engagement.
Black Canyon Limited has commenced a diamond core drilling program at its Wandanya project to collect samples for metallurgical testwork. This initiative aims to enhance processing knowledge and product characterization for manganese and iron mineralization, building on previous successful beneficiation testwork. The program is expected to provide critical data for refining processing techniques and advancing the project’s development, positioning Black Canyon to unlock further value from the Wandanya project.
Black Canyon Limited has announced the issuance of 2,000,000 fully paid ordinary shares and 2,000,000 unlisted options as part of its acquisition of tenements from Ndalamo Platinum Pty Ltd. This strategic move is expected to enhance the company’s asset portfolio and strengthen its position in the mining sector, potentially offering new opportunities for growth and value creation for its stakeholders.
Black Canyon Limited has completed the acquisition of Ndalamo Platinum Pty Ltd, securing key tenements that expand its Wandanya manganese-iron project by 229km². This acquisition enhances the company’s exploration potential, particularly with the continuation of manganese-rich horizons and iron formations, which could significantly increase the scale of its discoveries. The company plans to conduct further mapping and data compilation to prepare for drilling in Q2 2026, aiming to unlock the full potential of the Wandanya project.
Black Canyon Limited has announced the quotation of 214,285 ordinary fully paid securities on the Australian Securities Exchange (ASX) as of October 31, 2025. This move is part of the company’s strategy to capitalize on exercised options and convertible securities, potentially impacting its market positioning and offering new opportunities for stakeholders.
Black Canyon Limited has announced a change in the director’s interest, specifically involving Simon Taylor, who has increased his indirect holdings in the company. The purchase of 100,000 fully paid ordinary shares was made on the market, raising his total to 2,893,181 shares. This transaction reflects a strategic move by the director to increase his stake in the company, potentially signaling confidence in the company’s future performance.
Black Canyon Limited has announced the final results from its Phase 3 drill program at the Wandanya Project, revealing extensive high-grade manganese and iron mineralization. The drilling has confirmed significant manganese mineralization over a 3km strike and iron mineralization over a 1km strike, both remaining open for further exploration. The results suggest potential for direct shipping ores, which could reduce operational costs and enhance value. With over $11 million in cash, Black Canyon is well-positioned to advance the project through further drilling and development studies, indicating strong growth potential in the manganese and iron sectors.
Black Canyon Limited has reported its quarterly cash flow, highlighting a net cash inflow of $10,451,000 from financing activities, primarily through the issuance of equity securities. The company experienced cash outflows in operating and investing activities, with significant expenditures on exploration and evaluation. This financial update indicates a strategic focus on securing capital for ongoing exploration efforts, which may enhance its position in the mining sector and provide potential growth opportunities for stakeholders.
Black Canyon Limited has announced an upgrade in the JORC classification for its KR2 Mineral Resource Estimate, with 90% now classified as Indicated. This upgrade enhances the potential for future scoping studies and feasibility-level modeling, potentially improving the financial metrics of the KR1/KR2 deposits. The company continues to focus on high-grade manganese and iron discoveries at Wandanya, with further drilling results expected soon.
Black Canyon Limited has announced its Annual General Meeting scheduled for Tuesday, 18 November 2025, at Quest Kings Park, West Perth. Shareholders are encouraged to participate by lodging proxies online or attending in person, with a deadline for proxy submission set for 16 November 2025. This meeting is crucial for stakeholders to exercise their voting rights and influence company decisions.
Black Canyon Limited has announced promising assay results from its Phase 3 RC drilling program at the Wandanya Project, confirming significant manganese and iron mineralization over a 3km strike. The results show consistent high-grade intervals, with manganese grades averaging above 35% and iron mineralization remaining open to the north. The company’s exploration efforts indicate substantial potential for expanding the mineralization footprint, with further drilling and metallurgical testwork planned to enhance the project’s scale and impact.
Black Canyon Limited announced the issuance of 400,000 fully paid ordinary shares following the exercise of unlisted options at $0.14 each, which are set to expire in October 2026. This move reflects the company’s compliance with relevant provisions of the Corporations Act and indicates a strategic step in managing its capital structure, potentially impacting shareholder value and market perception.
Black Canyon Limited has announced its intention to issue 1,000,000 performance rights to its Managing Director, contingent upon shareholder approval at the upcoming Annual General Meeting. These performance rights are structured in three tranches with specific vesting conditions related to service duration, share price performance, and project milestones at the Wandanya site. This move is aimed at aligning the Managing Director’s incentives with the company’s strategic goals, potentially impacting the company’s operational focus and stakeholder interests.
Black Canyon Limited announced the issuance of 750,000 fully paid ordinary shares following the exercise of unlisted options. This move is part of the company’s ongoing compliance with the Corporations Act 2001, as it continues to strengthen its position in the manganese mining industry. The announcement underscores Black Canyon’s strategic focus on expanding its resource base and enhancing its market presence in the critical minerals sector.
Black Canyon Limited has announced the issuance of 750,000 fully paid ordinary securities, which will be quoted on the Australian Securities Exchange (ASX) under the code BCA. This move is part of the company’s strategic efforts to enhance its financial stability and expand its operational capabilities, potentially impacting its market positioning and offering new opportunities for stakeholders.