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Belararox Ltd.
(Sydney:BRX)
Belararox Ltd. (BRX) vs. iShares MSCI Australia ETF (EWA)
Belararox Ltd. Business Overview & Revenue Model
Belararox Ltd. Financial Statement Overview
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 11.77K | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | -4.17K | 11.77K | -5.07K | -452.00 | 0.00 |
| EBITDA | -4.78M | -5.33M | -3.26M | -1.98M | -3.07M | -120.61K |
| Net Income | -4.85M | -5.33M | -3.57M | -1.98M | -3.07M | -120.61K |
Balance Sheet | ||||||
| Total Assets | 37.97M | 30.89M | 17.29M | 14.99M | 5.29M | 698.84K |
| Cash, Cash Equivalents and Short-Term Investments | 7.12M | 3.38M | 1.63M | 3.15M | 2.96M | 563.86K |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 4.97M | 3.75M | 4.08M | 3.62M | 1.09M | 102.19K |
| Stockholders Equity | 33.00M | 27.14M | 13.21M | 11.37M | 4.20M | 596.65K |
Cash Flow | ||||||
| Free Cash Flow | -5.16M | -3.93M | -5.05M | -5.82M | -2.55M | -38.64K |
| Operating Cash Flow | -5.16M | -3.93M | -2.30M | -2.29M | -1.13M | -38.64K |
| Investing Cash Flow | -8.76M | -9.62M | -2.93M | -3.53M | -1.41M | 0.00 |
| Financing Cash Flow | 10.39M | 15.22M | 3.74M | 6.01M | 4.94M | 602.50K |
Belararox Ltd. Technical Analysis
Belararox Ltd. 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% | |
48 Neutral | AU$20.95M | -2.50 | -19.75% | ― | ― | 13.24% | |
48 Neutral | AU$18.96M | -4.75 | -53.37% | ― | ― | -4.88% | |
47 Neutral | AU$31.70M | -5.21 | -164.76% | ― | ― | 27.23% | |
46 Neutral | AU$7.06M | -3.07 | -57.65% | ― | ― | -66.67% | |
46 Neutral | AU$9.00M | -2.32 | -11.24% | ― | ― | -17.39% | |
42 Neutral | AU$14.83M | -4.24 | -33.10% | ― | ― | -128.13% |
Belararox Ltd. Corporate Events
Belararox has reported a significant new discovery at the Toro Central prospect within its Toro-Malambo-Tambo Project in Argentina, where the second drill hole intercepted a previously undrilled, near-surface high-grade silver zone. The hole returned 47 metres at 171.99 grams per tonne silver with notable zinc, copper, gold and lead credits from 59 metres, alongside a deeper 48-metre interval grading 55.76 grams per tonne silver and strong base metals from 130 metres, both interpreted as structurally controlled zones that remain open along strike and down dip.
Management says these results validate earlier mapping and sampling that pointed to silver potential at Toro Central and suggest the presence of multiple high-grade, structurally controlled silver-rich zones. With follow-up drilling already underway to test extensions of both the shallow and deeper mineralised zones, the company is entering a highly active exploration phase that could materially advance a potential new silver discovery in the region and provide ongoing news flow for investors.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox Ltd. has released its condensed financial report for the half-year ended 31 December 2025, detailing its financial performance, position, and cash flows in a formal interim statement. The report includes a directors’ report, auditor’s review, and statutory financial statements, underscoring the company’s adherence to ASX reporting standards and providing investors with updated insight into its governance, oversight and financial condition.
The publication of this half-year report helps maintain transparency for shareholders and the market by outlining key corporate roles, including a predominantly non-executive board and external audit arrangements. While the document itself offers limited operational detail, it reinforces the company’s compliance and corporate structure, which are important factors for stakeholders assessing risk, oversight quality and the robustness of its financial reporting framework.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox has acquired the El Faro tenement adjacent to its Toro South copper target within the TMT Project in Argentina, expanding its landholding by 22 square kilometres. The ground lies directly along the Toro South exploration corridor, where drilling is underway on a shallow epithermal system believed to overlie a potential copper porphyry at depth.
Located about 20 kilometres from Atex Resources’ Valeriano copper-gold deposit on the same structural trend, the new tenure enhances Belararox’s strategic footprint in the Vicuña District. The acquisition consolidates the company’s control over prospective ground surrounding its active drilling program, potentially improving its ability to define and develop a significant mineralised system in a tier-one mining jurisdiction.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox has appointed experienced geologist and mining executive Will Dix as chief executive officer, effective 1 April 2026, bringing more than 25 years’ experience across base, precious and uranium projects and a track record in capital markets and project commercialisation. His mandate includes overseeing active drilling at the TMT project in Argentina and the upcoming programs at the Kalahari Copper Project in Botswana, while current executive director Chris Gale will shift to a non-executive role.
The company also promoted Argentina exploration manager Christian Blaser to general manager of exploration, giving him responsibility for all exploration activities in Argentina and Botswana and leveraging his broad commodity and global project experience. The strengthened leadership team is intended to accelerate exploration outcomes in high-potential copper districts and enhance Belararox’s ability to create shareholder value as copper demand remains robust.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox Ltd. has disclosed a change in director Yanjun Zuo’s relevant interests in the company’s securities, primarily held indirectly through Enamel Coast Pty Ltd and Dynamic Oceanwide Investments Pty Ltd. The holdings include ordinary shares, listed options, and 2025 long- and short-term incentive performance rights.
According to the notice, the number of incentive securities was cancelled and then reissued on identical quantities, following amendments to the terms of performance rights previously approved by shareholders. As a result, Zuo’s overall securities position remains unchanged, indicating the move is a technical adjustment to reflect updated incentive terms rather than a shift in his economic exposure to Belararox.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox Limited has reported a change in director Neil Warburton’s indirect interests, detailing movements in his holdings of fully paid ordinary shares, listed options, performance rights, and long-term incentive securities held through related entities. The update records the cancellation and immediate reissue of 1,000,000 2025 long-term incentive performance rights at nil consideration, following shareholder approval of amended performance right terms in February 2026, highlighting ongoing adjustments to the company’s executive incentive framework and governance disclosures.
The notification confirms that, despite the internal restructuring of these equity-based incentives, Warburton’s overall exposure to Belararox via shares, options, performance rights, and long-term incentives remains substantial and largely unchanged in net terms. This type of ASX Appendix 3Y disclosure underscores the company’s compliance with listing rules on timely reporting of director interests, providing transparency for investors tracking insider holdings and remuneration-linked securities.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox Ltd. has reported a change in the relevant interests of director Athanasios John Traicos, held indirectly through Cressing Pty Ltd as trustee for the Traicos Family Trust. The disclosure outlines adjustments to his holdings in various securities, including ordinary shares, listed options, performance rights, and long-term incentive instruments.
The change arises from the cancellation and reissue of 2025 long-term incentive performance rights following shareholder-approved amendments to their terms on 20 February 2026. The transaction was recorded as having nil consideration, indicating it is an administrative restructuring of incentive terms rather than a market trade, and leaves the overall volume of Traicos’s securities in Belararox effectively unchanged.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox Ltd. has reported a change in director Chris Gale’s relevant interests, disclosing the issue of 7,000,000 performance rights to an entity associated with him, Allegra Capital Pty Ltd., as approved by shareholders at the company’s 2026 extraordinary general meeting. The notice confirms Gale’s existing holdings in ordinary shares and listed options remain unchanged, while the new performance rights grant could further align his incentives with shareholder outcomes, modestly increasing potential future dilution for investors if vesting conditions are met.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox has notified the market of the issue of new unquoted securities under its 2026 employee incentive schemes. The company will issue 2,650,000 short-term incentive (STI) securities and 8,050,000 long-term incentive (LTI) securities, both as a new class and subject to transfer restrictions until conditions are met.
The move underscores Belararox’s continued reliance on equity-based remuneration to align staff interests with shareholder value. By expanding its pool of unquoted incentive securities, the company is reinforcing retention and performance structures for employees, although the immediate dilution impact for existing shareholders is not yet fully quantifiable without pricing details.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox Ltd. has issued 7,000,000 unquoted 2026 Executive Director incentive rights, effective 3 March 2026. The new rights, which form a separate class of unquoted equity securities, are designed to align executive director remuneration with company performance and shareholder interests, potentially influencing future capital structure and governance outcomes.
The notification, lodged with the ASX as an Appendix 3G, formalises the creation of these incentive instruments under the company’s equity framework. This move underscores Belararox’s use of equity-based incentives to attract, retain and motivate senior leadership as it advances its strategic and operational objectives in the resources market.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox Ltd. has notified the market of the issuance of 750,000 unquoted equity securities as 2025 Director short-term incentive (STI) awards. The new securities, issued on 3 March 2026 as a new class of unquoted incentives, form part of the company’s director remuneration structure and may influence overall capital structure and governance alignment for investors.
The company’s filing indicates these securities are unquoted and specific to director incentives rather than a broader public capital raising. This targeted issuance underscores Belararox’s use of equity-based rewards to retain and motivate leadership, with potential implications for dilution and the balancing of shareholder and management interests over time.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox Ltd. has notified the market of the issue of 4,000,000 unquoted 2025 Director LTI performance rights, effective 3 March 2026. The new long-term incentive securities, which are not quoted on the ASX, form part of the company’s executive remuneration structure and are likely aimed at aligning director rewards with future company performance and shareholder value over the coming years.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox Ltd. has notified the market of a change to its issued capital, confirming that 750,000 short term incentive securities under the code BRXAI have ceased. The cessation occurred on 3 March 2026 through a cancellation by agreement between the company and the holder.
The move indicates an adjustment to Belararox’s incentive structure and overall securities on issue, potentially reflecting changes in individual remuneration arrangements or broader capital management decisions. While no financial impact was disclosed, the notification clarifies the updated capital position for investors and maintains compliance with ASX reporting standards.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox Ltd., listed on the ASX as BRX, has reported changes to its issued capital relating to long-term incentive securities. The move reflects internal adjustments to its incentive arrangements with security holders, without providing additional detail on its broader business operations.
The company has cancelled 4,000,000 long-term incentive securities, effective 3 March 2026, following a mutual agreement with the holder. This cancellation may modestly streamline Belararox’s capital structure and alter the dilution profile for existing shareholders, signalling a recalibration of its incentive framework.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox Ltd. has announced the results of its Extraordinary General Meeting, confirming that all resolutions put to shareholders were passed by poll with strong majorities. The measures primarily relate to cancelling existing director performance rights, issuing new short- and long-term director performance rights, and approving termination benefits for several directors, including Neil Warburton, John Traicos, Yanjun (Tim) Zuo and Chris Gale.
The high level of support for these governance changes indicates shareholder backing for the company’s refreshed incentive and termination arrangements at board level. This outcome is likely to provide greater clarity around executive remuneration and alignment with investor interests as Belararox advances its portfolio of copper, gold, silver, and zinc exploration projects in key global mining jurisdictions.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox reported strong operational progress for the quarter to 31 December 2025, highlighted by the start of diamond drilling at the Toro Central prospect within its TMT Project in Argentina, where work is targeting a broad near-surface epithermal system defined by a 1.4 km IP chargeability anomaly. The company also completed MT/IP geophysical surveys over Toro Central and Toro South to sharpen the definition of the epithermal system and continued surveys at Tambo South to refine deeper porphyry targets, supported by zircon age-dating that aligns the project’s intrusions with the highly prospective Vicuña Belt. In Botswana, Belararox completed its maiden drilling campaign at Kareng West in the Kalahari Copper Belt, which improved geological understanding but delivered limited success in intersecting the key copper-hosting contact, prompting a review and re-planning of the next drilling phase. Financially, the company ended the quarter with A$7.1 million in cash, no debt and proceeds from a recent A$8.5 million placement, leaving it well funded for current field programmes, while board changes saw the departure of the managing director and the appointment of Chris Gale as executive director to drive its international copper exploration strategy.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox has completed its first diamond drill hole at the Toro Central target within the TMT Project in Argentina, reaching a depth of 705.6 metres and intersecting altered volcanic and volcaniclastic rocks containing visually observed sulphides over a 568.5-metre interval, thereby confirming a key chargeability anomaly that aligns with historical silver, copper and zinc intersections. A second drill hole is now underway 400 metres to the north to test continuity and extensions of known mineralisation, while MT/IP geophysical surveys and advanced 3D interpretation at Tambo South and Toro South continue, positioning the company to refine its copper porphyry and epithermal targets and potentially unlock material upside for the project.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox has completed its first diamond drill hole at the Toro Central prospect within the TMT Project in Argentina, reaching a depth of 705.6 metres and intersecting altered volcanic and volcaniclastic rocks with visually observed sulphides over a 568.5-metre interval, confirming a key IP chargeability anomaly that aligns with historical silver, copper and zinc mineralisation. A second hole is now underway 400 metres to the north to test continuity and extensions of this mineralisation, while MT/IP survey work has resumed at Tambo South and advanced 3D geophysical interpretation at Toro South is nearing completion, steps that collectively aim to refine a large epithermal and potential copper porphyry target over a 1.4–2 km trend and mark tangible progress in de‑risking and potentially expanding the project’s metal endowment.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox Limited has called an Extraordinary General Meeting for 20 February 2026 in Perth, notifying shareholders that the formal Notice of Meeting will be provided electronically rather than in hard copy, except for investors who have specifically elected to receive physical mail. The company is urging shareholders to lodge proxy votes by 18 February 2026 and to update their details on the share registry’s online portal to receive future communications electronically, underscoring a shift toward digital investor engagement and more streamlined corporate governance processes.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox Ltd has applied to the ASX for quotation of 18,111,100 options (ASX code: BRXO) expiring on 10 December 2028, following the prior issue of these securities as part of a transaction previously announced to the market. The move will see these options admitted to trading from 15 January 2026, potentially broadening the company’s capital structure and providing additional liquidity and engagement opportunities for existing and prospective investors once quotation is granted.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox Ltd has notified the ASX of a proposed issue of new securities, comprising up to 18,111,108 options (ASX code: BRXO) expiring on 10 December 2028, to be issued as a placement or similar type of capital raising. The options are expected to be issued on 15 January 2026, indicating the company is seeking additional funding or capital structure flexibility, which may affect existing shareholders’ dilution and signal ongoing or planned corporate or project activities once the securities are quoted and tradable on the ASX.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox Ltd has released a transaction-specific prospectus detailing an offer of up to 18,111,108 free options to select investors who participated in a recent share placement. The options, to be quoted on the ASX, are being offered on the basis of one new option for every two shares subscribed for in the placement, with the offer restricted to investors personally invited by the company and falling within its published target market determination. The document emphasises that the options are highly speculative, outlines the regulatory framework under which the offer is made, and reminds investors that Belararox is a disclosing entity subject to continuous disclosure obligations, directing them to consider existing market disclosures and seek professional advice before investing.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox Limited has issued 222,222 fully paid ordinary shares as part of a previously announced placement, with the new shares ranking equally with the company’s existing ordinary shares. The company also confirmed it issued these shares without a prospectus under the Corporations Act while maintaining compliance with its financial reporting and continuous disclosure obligations, and stated there is no undisclosed price‑sensitive information relevant to assessing the company or the rights attached to the new shares, providing assurance to current and prospective shareholders about the transparency of the placement.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox Ltd has applied to the ASX for quotation of additional fully paid ordinary shares under the code BRX, following prior shareholder approval at its 2025 annual general meeting. The application covers 222,222 new shares to be quoted from 7 January 2026, modestly increasing the company’s quoted capital base and potentially enhancing liquidity for existing and new investors.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox Limited has completed an $8.5 million two-tranche placement, with the second tranche approved at its 2025 AGM, to accelerate copper-focused exploration across its asset base, particularly at the TMT Project in Argentina. The company has already commenced drilling at TMT, where it has identified multiple promising targets in a largely unexplored area between major metallogenic belts, a step that underscores its push to build scale in copper and other energy-transition metals and could be significant for investors seeking exposure to future-facing resource development.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox Ltd has completed the second tranche of a previously announced share placement, issuing 35,999,994 fully paid ordinary shares that will rank equally with the company’s existing stock. The company has confirmed via a cleansing notice that the shares were issued without a prospectus under relevant Australian Corporations Act provisions, while stating it remains compliant with its financial reporting and continuous disclosure obligations and that there is no excluded information that would materially affect investors’ assessment of the company or the rights attached to the new shares.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox Ltd has applied to the ASX for quotation of 35,999,994 new fully paid ordinary shares under the code BRX, with an issue date of 2 January 2026. The large share quotation, following prior shareholder approval, will expand the company’s listed capital base and may have implications for existing shareholders through dilution while providing additional securities that can potentially support future funding, liquidity and market activity in the stock.
The most recent analyst rating on (AU:BRX) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Belararox Ltd. stock, see the AU:BRX Stock Forecast page.
Belararox Ltd has disclosed changes to director Yanjun Zuo’s indirect interests in the company’s securities, primarily via entities Enamel Coast Pty Ltd and Dynamic Oceanwide Investments Pty Ltd, in line with ASX listing rule requirements for director shareholdings. The notice details disposals of shares by Enamel Coast, acquisitions of shares and options through Dynamic Oceanwide Investments, and the grant of long- and short-term incentive securities approved at the 2025 AGM, clarifying Zuo’s updated holdings and reinforcing transparency for investors regarding director alignment with shareholder interests.