Black Rock Mining Limited (AU:BKT)
ASX:BKT
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Black Rock Mining Limited
(Sydney:BKT)
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Rating:44Neutral
Price Target:
AU$0.01
▼(-30.00% Downside)
Action:ReiteratedDate:03/20/26
The score is primarily held back by weak financial performance: minimal/unstable revenue, ongoing sizeable losses, and consistently negative operating/free cash flow (despite improved burn). The low-debt balance sheet provides some support, but technicals show the price below key moving averages and valuation metrics offer limited support given negative earnings and no stated dividend yield.
Positive Factors
Low leverage and substantial equity
Very low debt and meaningful equity provide durable solvency and financing optionality as the company develops Mahenge. This reduces near-term refinancing pressure, lowers insolvency risk during capex phases, and gives management time to secure project finance or offtake funding without immediate distress.
Negative Factors
Pre-revenue operating profile
Lack of recurring operating revenue means the business is not yet cash-generative and remains entirely dependent on project development success. This raises execution risk: until commercial production, value depends on prospective reserves, permitting, construction and offtake, making fundamentals highly binary over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage and substantial equity
Very low debt and meaningful equity provide durable solvency and financing optionality as the company develops Mahenge. This reduces near-term refinancing pressure, lowers insolvency risk during capex phases, and gives management time to secure project finance or offtake funding without immediate distress.
Read all positive factors
Black Rock Mining Limited (BKT) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$32.22M
Dividend YieldN/A
Average Volume (3M)5.95M
Price to Earnings (P/E)―
Beta (1Y)1.41
Revenue GrowthN/A
EPS Growth23.60%
CountryAU
Employees4
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding2,147,724,400
10 Day Avg. Volume10,124,171
30 Day Avg. Volume5,951,950
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)0.53
Price to Sales (P/S)0.00
P/FCF Ratio-3.40
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Black Rock Mining Limited Business Overview & Revenue Model
Company Description
Black Rock Mining Limited engages in the exploration and development of graphite projects in Tanzania. It holds a 100% interest in the Mahenge graphite project covering an area of 324 square kilometres and located in Tanzania. The company was form...
How the Company Makes Money
As of available public information, Black Rock Mining’s business model is oriented toward developing the Mahenge Graphite Project into a producing operation rather than generating diversified operating revenue from multiple producing mines. If and...
Black Rock Mining Limited Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
62
Positive
Cash Flow
18
Very Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 4.12K | 0.00 | 0.00 | 0.00 |
| Gross Profit | -315.30K | -334.36K | -350.00K | -286.00K | -48.18K | -14.17K |
| EBITDA | -7.09M | -9.17M | -10.53M | -9.06M | -6.03M | -2.84M |
| Net Income | -7.53M | -8.93M | -10.08M | -9.05M | -6.08M | -2.85M |
Balance Sheet | ||||||
| Total Assets | 67.64M | 59.42M | 63.11M | 61.32M | 57.43M | 33.63M |
| Cash, Cash Equivalents and Short-Term Investments | 9.46M | 2.08M | 9.10M | 11.70M | 26.09M | 11.30M |
| Total Debt | 453.79K | 547.60K | 477.94K | 686.35K | 536.70K | 0.00 |
| Total Liabilities | 2.59M | 3.09M | 3.59M | 3.82M | 2.41M | 468.59K |
| Stockholders Equity | 66.60M | 57.73M | 60.33M | 57.79M | 55.02M | 33.16M |
Cash Flow | ||||||
| Free Cash Flow | -7.94M | -8.91M | -13.87M | -25.57M | -11.59M | -2.86M |
| Operating Cash Flow | -7.94M | -8.90M | -8.00M | -8.31M | -4.13M | -2.04M |
| Investing Cash Flow | -2.31M | -2.79M | -5.82M | -17.35M | -7.46M | -827.02K |
| Financing Cash Flow | 17.71M | 4.55M | 11.21M | 10.63M | 25.97M | 13.67M |
Black Rock Mining Limited Technical Analysis
Positive
0.02
Price Trends
0.02
Positive
0.02
Positive
0.02
Negative
Market Momentum
>-0.01
Negative
52.63
Neutral
400.00
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BKT, the sentiment is Positive. The current price of 0.02 is above the 20-day moving average (MA) of 0.02, above the 50-day MA of 0.02, and below the 200-day MA of 0.02, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 52.63 is Neutral, neither overbought nor oversold. The STOCH value of 400.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:BKT.
Black Rock Mining Limited Peers Comparison
UnderperformOutperform
Sector (61)
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% | |
52 Neutral | AU$139.37M | 51.54 | -0.50% | ― | ― | 12.50% | |
48 Neutral | AU$31.42M | -12.76 | -11.53% | ― | ― | 40.00% | |
44 Neutral | AU$32.22M | -1.90 | -12.11% | ― | ― | 23.60% | |
44 Neutral | AU$95.52M | -3.89 | -36.51% | ― | -100.00% | -477.06% | |
43 Neutral | AU$36.96M | -11.22 | -0.02% | ― | ― | -12.34% | |
41 Neutral | AU$76.07M | -7.36 | -2.83% | ― | ― | -268.97% |
* Basic Materials Sector Average
AU:BKT
Black Rock Mining Limited
0.02
>-0.01
-20.00%
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150.00%
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0.00
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Black Rock Mining Limited Corporate Events
Black Rock Reaffirms Mahenge Graphite Project Assumptions in Investor Presentation
Feb 9, 2026
Black Rock Mining Limited has released an investor presentation outlining its position as a premium graphite developer and providing an update on the Mahenge graphite project in Tanzania via its subsidiary Faru Graphite Corporation. The company re...
Black Rock awards US$11m bulk earthworks contract for Mahenge graphite project
Feb 4, 2026
Black Rock Mining has awarded a US$11 million bulk earthworks contract for its Mahenge Graphite Project in Tanzania to local firm Taifa Mining and Civils, following a competitive tender process conducted in line with Tanzanian Mining (Local Conten...
Black Rock Advances Mahenge Graphite Project After Groundbreaking and Early Works Progress
Jan 30, 2026
Black Rock Mining has marked a major milestone at its Mahenge Graphite Project in Tanzania with an official groundbreaking ceremony, underscoring strong support from the Tanzanian government and strategic partner POSCO as it advances an Early Work...
Black Rock Advances Early Works to Make Mahenge Graphite Project Construction-Ready
Jan 12, 2026
Black Rock Mining has reported solid progress on early works at its Mahenge Graphite Project in Tanzania, designed to ensure a rapid ramp-up of construction once project financing is secured and a Final Investment Decision is made. Key milestones ...
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.