Blackstone Minerals Ltd (AU:BSX)
ASX:BSX
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Blackstone Minerals Ltd
(Sydney:BSX)
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Rating:46Neutral
Price Target:
AU$0.04
▼(-14.00% Downside)
Action:Reiterated
Date:04/16/26
The score is constrained primarily by weak financial performance (minimal revenue, persistent losses, and ongoing cash burn), partially offset by low leverage on the balance sheet. Technicals show short-term strength but are overextended (very high RSI/Stochastic), and valuation is not supportive given negative earnings and no dividend yield.
Positive Factors
Balance sheet strength (low leverage)
Very low debt and near-zero debt-to-equity materially reduce refinancing and interest-rate risks. That structural financial flexibility supports multi-year project development financing, allows staged capital deployment into Ta Khoa or processing concepts, and lengthens runway versus highly leveraged peers.
Negative Factors
Minimal and volatile revenue base
The company lacks a stable revenue foundation and records negative gross profit annually, indicating operations do not yet generate commercial margins. Without a scalable revenue stream, the business remains dependent on capital markets and project milestones to achieve profitability and sustain development.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength (low leverage)
Very low debt and near-zero debt-to-equity materially reduce refinancing and interest-rate risks. That structural financial flexibility supports multi-year project development financing, allows staged capital deployment into Ta Khoa or processing concepts, and lengthens runway versus highly leveraged peers.
Read all positive factors
Blackstone Minerals Ltd (BSX) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$87.01M
Dividend YieldN/A
Average Volume (3M)5.33M
Price to Earnings (P/E)―
Beta (1Y)1.39
Revenue GrowthN/A
EPS Growth42.00%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.02
Shares Outstanding1,721,659,900
10 Day Avg. Volume4,308,831
30 Day Avg. Volume5,333,678
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)0.65
Price to Sales (P/S)0.00
P/FCF Ratio-9.22
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)>-0.01
Revenue Forecast (FY)N/A
Blackstone Minerals Ltd Business Overview & Revenue Model
Company Description
Blackstone Minerals Limited engages in the exploration and development of mineral properties. The company primarily explores for nickel, cobalt, copper, gold, platinum, and palladium deposits. It holds a 100% interest in the Gold Bridge project, w...
How the Company Makes Money
null...
Blackstone Minerals Ltd Financial Statement Overview
Summary
Income Statement
12
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 | 55.53K | 312.87K | 35.90K | 77.25K |
| Gross Profit | -394.44K | -869.34K | -1.11M | -996.49K | -1.12M | -727.00K |
| EBITDA | -11.09M | -10.09M | -20.72M | -34.58M | -34.84M | -16.91M |
| Net Income | -14.71M | -9.72M | -17.33M | -32.15M | -31.94M | -15.88M |
Balance Sheet | ||||||
| Total Assets | 89.84M | 83.65M | 19.25M | 36.72M | 70.13M | 36.20M |
| Cash, Cash Equivalents and Short-Term Investments | 15.03M | 582.89K | 4.16M | 12.56M | 40.75M | 21.80M |
| Total Debt | 99.56K | 241.60K | 1.12M | 436.92K | 699.23K | 296.27K |
| Total Liabilities | 1.68M | 3.67M | 2.99M | 6.33M | 6.62M | 5.49M |
| Stockholders Equity | 92.42M | 84.14M | 20.06M | 31.52M | 62.65M | 26.82M |
Cash Flow | ||||||
| Free Cash Flow | -8.58M | -5.94M | -14.97M | -27.98M | -36.42M | -15.31M |
| Operating Cash Flow | -8.58M | -5.94M | -13.72M | -27.91M | -35.82M | -15.00M |
| Investing Cash Flow | -943.14K | -811.42K | -723.88K | -249.46K | -10.19M | -312.26K |
| Financing Cash Flow | 22.67M | 3.19M | 6.20M | -294.24K | 65.03M | 30.35M |
Blackstone Minerals Ltd Technical Analysis
Positive
0.05
Price Trends
0.04
Positive
0.05
Positive
0.05
Negative
Market Momentum
<0.01
Positive
53.93
Neutral
36.90
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BSX, the sentiment is Positive. The current price of 0.05 is above the 20-day moving average (MA) of 0.05, above the 50-day MA of 0.04, and below the 200-day MA of 0.05, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 53.93 is Neutral, neither overbought nor oversold. The STOCH value of 36.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:BSX.
Blackstone Minerals Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | AU$107.68M | 7.12 | 10.13% | ― | 8.26% | 86.06% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | AU$1.39B | -94.08 | -10.87% | ― | ― | -5.00% | |
50 Neutral | AU$1.17B | -41.72 | -33.71% | ― | 35.51% | 63.30% | |
48 Neutral | AU$164.17M | -17.44 | -12.55% | ― | ― | -133.33% | |
47 Neutral | AU$266.21M | -23.58 | -21.89% | ― | ― | 7.69% | |
46 Neutral | AU$87.01M | -5.85 | -16.67% | ― | ― | 42.00% |
* Basic Materials Sector Average
AU:BSX
Blackstone Minerals Ltd
0.05
-0.02
-32.00%
AU:LIN
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0.76
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AU:MLG
MLG Oz Ltd
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AU:PSC
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0.32
0.19
137.04%
Blackstone Minerals Ltd Corporate Events
Blackstone Minerals Clears Regulatory Path for On-Sale of Newly Issued Shares
May 8, 2026
Blackstone Minerals has issued 654,322 fully paid ordinary shares and notified the market that these securities were issued without a prospectus under the Corporations Act. By lodging this notice, the company confirms that the new shares qualify f...
Blackstone Minerals Seeks ASX Quotation for Additional Ordinary Shares
May 8, 2026
Blackstone Minerals Ltd has applied to the ASX for quotation of 654,322 new ordinary fully paid shares under its existing BSX ticker, formalizing the issue of these securities on 8 May 2026. The modest share issuance signals incremental capital ra...
Blackstone lifts Mankayan halt, launches pre-feasibility study amid solid cash position
Apr 30, 2026
Blackstone Minerals has resumed exploration at its flagship Mankayan copper-gold project in the Philippines after a local cease-and-desist order was lifted, following sustained engagement with community groups and government bodies. The company ha...
Blackstone Minerals Options Lapse, Trimming Potential Future Dilution
Apr 17, 2026
Blackstone Minerals Limited has announced the cessation of several tranches of ASX-listed options after the underlying conditions for conversion were not met or became incapable of being satisfied. A total of 9,461,493 options across three series,...
Blackstone Minerals Corrects ASX Option Class in Quotation Application
Apr 15, 2026
Blackstone Minerals has updated its application for quotation of securities with the ASX to correct an error in a previously identified option class. The company clarified that the options converted should have been referenced as class BSXAQ rathe...
Blackstone clears on-sale conditions for new share issue
Mar 23, 2026
Blackstone Minerals Limited has issued 1,645,672 fully paid ordinary shares without a prospectus and has lodged a notice under section 708A(5)(e) of the Corporations Act to allow these shares to be freely traded. The company states it is compliant...
Blackstone Minerals Seeks ASX Quotation for 1.65 Million New Shares
Mar 23, 2026
Blackstone Minerals Ltd has applied for quotation on the ASX of 1,645,672 new ordinary fully paid shares under its existing BSX code. The new securities, issued on March 23, 2026, will increase the company’s quoted share capital and reflect ...
Blackstone Minerals Issues Interim Financial Report for Half Year 2025
Mar 16, 2026
Blackstone Minerals Limited has released its interim financial report for the half year ended 31 December 2025. The report package includes the directors’ report, auditor’s independence declaration, interim financial statements, direct...
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.