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Blackstone Minerals Ltd
(Sydney:BSX)
Blackstone Minerals Ltd (BSX) vs. iShares MSCI Australia ETF (EWA)
Blackstone Minerals Ltd Business Overview & Revenue Model
Blackstone Minerals Ltd Financial Statement Overview
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 55.53K | 312.87K | 35.90K | 77.25K |
| Gross Profit | -869.34K | -1.11M | -996.49K | -1.12M | -727.00K |
| EBITDA | -10.09M | -20.72M | -34.58M | -34.84M | -16.91M |
| Net Income | -9.72M | -17.33M | -32.15M | -31.94M | -15.88M |
Balance Sheet | |||||
| Total Assets | 83.65M | 19.25M | 36.72M | 70.13M | 36.20M |
| Cash, Cash Equivalents and Short-Term Investments | 582.89K | 4.16M | 12.56M | 40.75M | 21.80M |
| Total Debt | 241.60K | 1.12M | 436.92K | 699.23K | 296.27K |
| Total Liabilities | 3.67M | 2.99M | 6.33M | 6.62M | 5.49M |
| Stockholders Equity | 84.14M | 20.06M | 31.52M | 62.65M | 26.82M |
Cash Flow | |||||
| Free Cash Flow | -5.94M | -14.97M | -27.98M | -36.42M | -15.31M |
| Operating Cash Flow | -5.94M | -13.72M | -27.91M | -35.82M | -15.00M |
| Investing Cash Flow | -811.42K | -723.88K | -249.46K | -10.19M | -312.26K |
| Financing Cash Flow | 3.19M | 6.20M | -294.24K | 65.03M | 30.35M |
Blackstone Minerals Ltd Technical Analysis
Blackstone Minerals Ltd Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | AU$158.03M | 10.19 | 8.79% | ― | 15.32% | 10.05% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
52 Neutral | AU$328.80M | -28.93 | -20.60% | ― | ― | 7.28% | |
51 Neutral | AU$886.93M | -66.25 | -15.51% | ― | ― | -90.48% | |
51 Neutral | AU$204.10M | -21.90 | -8.25% | ― | ― | -55.56% | |
46 Neutral | AU$1.35B | -16.97 | -84.61% | ― | 149.43% | 1.20% | |
45 Neutral | AU$76.67M | -2.78 | -18.67% | ― | ― | 53.31% |
Blackstone Minerals Ltd Corporate Events
Blackstone Minerals has issued 29,655,150 fully paid ordinary shares, expanding its share capital without providing a prospectus to investors. The company has confirmed that these shares qualify for on-sale without disclosure under section 708A(5) of the Corporations Act, allowing secondary trading to occur more freely under the exemption.
In its notice, Blackstone stated it is compliant with key financial reporting and continuous disclosure obligations under the Corporations Act. The company also affirmed there is no withheld information that investors would reasonably require to assess its financial position, prospects, or the rights attached to the newly issued shares, seeking to reassure the market about transparency and regulatory adherence.
The most recent analyst rating on (AU:BSX) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Blackstone Minerals Ltd stock, see the AU:BSX Stock Forecast page.
Blackstone Minerals Limited has applied for quotation on the ASX of 1,535,150 new fully paid ordinary shares under the code BSX. The shares were issued on 20 February 2026 as consideration for the settlement of outstanding invoices for services provided, effectively using equity in place of cash payments.
The move modestly expands Blackstone’s share base while preserving cash, which may support the company’s liquidity and operational flexibility. It also signals continued engagement with service providers willing to accept equity, reflecting confidence in the company’s longer‑term prospects.
The most recent analyst rating on (AU:BSX) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Blackstone Minerals Ltd stock, see the AU:BSX Stock Forecast page.
Blackstone Minerals has applied to the ASX for quotation of 28,120,000 new ordinary fully paid shares, with an issue date of 16 February 2026. The additional securities, arising from the exercise or conversion of existing instruments, will expand the company’s quoted share capital and may support its funding flexibility and market liquidity for investors.
The application confirms Blackstone’s ongoing use of equity markets to support its corporate objectives and operational plans. The enlarged register of quoted shares could influence trading dynamics and ownership structure, with potential implications for current shareholders as the new stock becomes available on-market.
The most recent analyst rating on (AU:BSX) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Blackstone Minerals Ltd stock, see the AU:BSX Stock Forecast page.
Blackstone Minerals Ltd has announced the cessation of 500,000 BSXAI options, which expired unexercised on February 11, 2026. The options, which carried an exercise price of $0.001 and were due to expire on August 20, 2025, have lapsed without conversion, resulting in a minor simplification of the company’s issued capital profile and derivative overhang.
The notification, lodged as a new Appendix 3H announcement with the ASX, confirms that these options have been removed from Blackstone’s listed securities. While the change does not immediately alter operational activities, it modestly tightens the company’s capital structure, which can clarify the equity base for current shareholders and prospective investors.
The most recent analyst rating on (AU:BSX) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Blackstone Minerals Ltd stock, see the AU:BSX Stock Forecast page.
Blackstone Minerals has appointed Mark Williams as a director effective 5 February 2026, and lodged an Initial Director’s Interest Notice detailing his holdings in the company. Williams holds no shares directly, but has a beneficial interest via MOEWILLIAMS Pty Ltd as trustee for The Moe Family Account, including more than 1.4 million fully paid ordinary shares and a substantial package of unlisted options with various exercise prices and expiries.
The disclosure clarifies Williams’ equity alignment with shareholders at the outset of his tenure and indicates significant long-term incentive exposure through options that extend to 2030, which may influence his strategic focus on value creation. This level of option-based remuneration underscores Blackstone Minerals’ use of equity incentives to attract and retain leadership and could impact future dilution and governance considerations for existing investors.
The most recent analyst rating on (AU:BSX) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Blackstone Minerals Ltd stock, see the AU:BSX Stock Forecast page.
Blackstone Minerals has strengthened its board with the appointment of experienced mining executive Mark Williams as a Non-Executive Director. Williams, the former Managing Director of Red 5, brings more than three decades of global mining experience and a strong track record in operational turnarounds and growth, including transforming Red 5 from a A$40 million company into a A$1.5 billion mid-tier gold producer before its merger to form Vault Minerals. His extensive in-country experience in the Philippines and current role as Chair of US-focused gold explorer Sentinel Metals are expected to bolster Blackstone’s efforts to advance its flagship Mankayan copper-gold project, with the board highlighting his technical, commercial and operational expertise as critical to realising the asset’s potential.
The most recent analyst rating on (AU:BSX) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Blackstone Minerals Ltd stock, see the AU:BSX Stock Forecast page.
Blackstone Minerals Limited has notified the market of the issue of several tranches of unquoted securities under an employee incentive scheme, which are not intended to be quoted on the ASX. The issuance, totaling 45 million securities across four tranches on 4 February 2026, reflects the company’s continued use of equity-based incentives to align employees’ interests with long-term corporate performance, potentially affecting future capital structure and dilution for existing shareholders.
The most recent analyst rating on (AU:BSX) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Blackstone Minerals Ltd stock, see the AU:BSX Stock Forecast page.
Blackstone Minerals Limited has announced that managing director Scott Williamson ceased to be a director of the company on 31 January 2026. A final director’s interest notice lodged with the ASX shows that while Williamson holds no securities in his own name, his relevant interests are substantial through his spouse and associated entities, including millions of ordinary shares, zero exercise price options tied to short- and long-term incentives, and large tranches of unlisted options with expiries out to 2030, underscoring his continuing financial exposure to Blackstone despite his board departure.
The most recent analyst rating on (AU:BSX) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Blackstone Minerals Ltd stock, see the AU:BSX Stock Forecast page.
Blackstone Minerals reported a mixed December quarter marked by both regulatory headwinds and key de-risking milestones at its flagship Mankayan copper-gold project in the Philippines. While the company secured a historic Certificate of Precondition from the National Commission on Indigenous Peoples confirming Free, Prior and Informed Consent from the Mankayan Indigenous People, as well as a two-year extension to its work program and a renewed Mineral Production Sharing Agreement to 2046, local community tensions prompted the Mankayan Mayor to issue a Cease & Desist order halting exploration until further notice. Blackstone is responding with intensified engagement, involving Philippine authorities, the Australian Embassy and local stakeholders, while also progressing prefeasibility metallurgical test work, signing a Community Access Agreement in Maggangan, relocating joint-venture partner CMDC’s registered office to Mankayan, and committing to community projects to reinforce its social licence. The quarter also brought significant board and management changes, a corporate cost review and a solid cash balance of $15.3 million plus listed investments, and in Vietnam the company advanced licensing by filing for a five-year extension of the BPNM underground mining licence, expected in early 2026, to provide a runway for permitting the Ta Khoa nickel project and associated refinery.
The most recent analyst rating on (AU:BSX) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Blackstone Minerals Ltd stock, see the AU:BSX Stock Forecast page.
Blackstone Minerals Limited has appointed Gregory Rolland Cunnold as a director effective 29 December 2025. Cunnold holds a substantial equity position in the company, including 3.7 million fully paid ordinary shares in his own name and a significant additional beneficial interest of more than 81.8 million fully paid ordinary shares and several tranches of unlisted options, underscoring a strong alignment between his personal financial interests and the company’s future performance.
The most recent analyst rating on (AU:BSX) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Blackstone Minerals Ltd stock, see the AU:BSX Stock Forecast page.
Blackstone Minerals has announced the resignation of Managing Director Scott Williamson, effective 31 January 2026, as part of a leadership transition at the company. To maintain continuity, existing Non-Executive Director Geoff Gilmour has been elevated to Executive Chairman with immediate effect, taking on executive leadership duties while the board conducts a search for a new Chief Executive Officer and/or Managing Director. The board has also strengthened its technical capability by appointing geologist Greg Cunnold, who brings experience with the Mankayan Copper-Gold Project in the Philippines, as a Non-Executive Director. Alongside these board changes, Blackstone continues to promote shareholder engagement via its Investor Hub, encouraging investors to interact directly with the company and stay informed during this period of governance transition.