Blackstone Minerals Ltd (AU:BSX)
ASX:BSX
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Blackstone Minerals Ltd
(Sydney:BSX)
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Rating:45Neutral
Price Target:
AU$0.03
▼(-42.00% Downside)
Action:ReiteratedDate:03/10/26
The score is primarily constrained by weak financial performance (minimal revenue, persistent losses, and ongoing cash burn) and bearish technical positioning (price below major moving averages with negative MACD). A low-debt balance sheet provides some support, but valuation metrics are not meaningfully supportive due to negative earnings and no dividend data.
Positive Factors
Low Leverage / Strong Balance Sheet
Very low debt materially reduces refinancing and interest-rate risks for a development-stage miner. This balance sheet flexibility supports continued project development spending and strategic options (JV, capex, or phased buildouts) without immediate liquidity pressure, preserving runway for resource advancement.
Negative Factors
Minimal and Volatile Revenue
Lack of a stable revenue base means the business remains pre-commercial and dependent on capital markets. Without sustained sales or recurring revenue, operational losses are likely to continue, making it difficult to demonstrate commercial viability or to fund development from internal cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage / Strong Balance Sheet
Very low debt materially reduces refinancing and interest-rate risks for a development-stage miner. This balance sheet flexibility supports continued project development spending and strategic options (JV, capex, or phased buildouts) without immediate liquidity pressure, preserving runway for resource advancement.
Read all positive factors
Blackstone Minerals Ltd (BSX) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$59.69M
Dividend YieldN/A
Average Volume (3M)5.33M
Price to Earnings (P/E)―
Beta (1Y)0.97
Revenue GrowthN/A
EPS Growth53.31%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding1,721,005,500
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
Negative
0.05
Price Trends
0.04
Negative
0.04
Negative
0.06
Negative
Market Momentum
>-0.01
Negative
59.27
Neutral
62.70
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BSX, the sentiment is Negative. The current price of 0.05 is above the 20-day moving average (MA) of 0.03, above the 50-day MA of 0.04, and below the 200-day MA of 0.06, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 59.27 is Neutral, neither overbought nor oversold. The STOCH value of 62.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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$129.37M | 4.76 | 10.13% | ― | 15.32% | 10.05% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | AU$1.52B | -16.47 | -10.87% | ― | ― | -90.48% | |
50 Neutral | AU$1.77B | -12.21 | -33.71% | ― | 149.43% | 1.20% | |
45 Neutral | AU$59.69M | -2.12 | -16.67% | ― | ― | 53.31% | |
45 Neutral | AU$181.92M | -5.58 | -8.25% | ― | ― | -55.56% | |
45 Neutral | AU$264.56M | -8.28 | -20.47% | ― | ― | 7.28% |
* Basic Materials Sector Average
AU:BSX
Blackstone Minerals Ltd
0.04
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-45.31%
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Blackstone Minerals Ltd Corporate Events
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...
Blackstone Clears Regulatory Path for Trading of Newly Issued Shares
Feb 20, 2026
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)...
Blackstone Minerals Issues Shares to Settle Service Invoices
Feb 20, 2026
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 pr...
Blackstone Minerals Seeks ASX Quotation for 28.1 Million New Shares
Feb 20, 2026
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 ...
Blackstone Minerals Options Lapse, Trimming Derivative Overhang
Feb 11, 2026
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 con...
Blackstone Minerals Details New Director Mark Williams’ Equity Interests
Feb 9, 2026
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...
Blackstone Minerals Adds Former Red 5 Chief Mark Williams to Board
Feb 4, 2026
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 experie...
Blackstone Minerals Issues 45 Million Unquoted Securities Under Employee Incentive Scheme
Feb 4, 2026
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 fou...
Blackstone Minerals Details Scott Williamson’s Exit and Ongoing Equity Interests
Feb 1, 2026
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 securiti...
Blackstone Balances Social Licence Wins and Work Halt at Mankayan as Leadership Shifts and Cash Remains Strong
Jan 27, 2026
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 Preconditi...
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.