Bubalus Resources Ltd. (BUS) AI Stock Analysis

• Market Cap: AU$8.04M
• Dividend Yield: N/A
• Average Volume (3M): 469.89K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.65
• Revenue Growth: N/A
• EPS Growth: -242.34%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): -0.02
• Shares Outstanding: 69,888,010
• 10 Day Avg. Volume: 474,945
• 30 Day Avg. Volume: 469,889
• PEG Ratio: -0.01
• Price to Book (P/B): 0.73
• Price to Sales (P/S): 45.68
• P/FCF Ratio: -2.32
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 48 Neutral
• Price Target: AU$0.11 ▼(-22.14% Downside)

The score is mainly weighed down by weak financial performance (shrinking revenue, widening losses, and worsening negative operating/free cash flow), with additional pressure from bearish technicals (price below key moving averages and negative MACD). Valuation contributes only modestly because the negative P/E reflects ongoing losses and there is no dividend yield data.

Positive Factors

Zero Debt / Solvency

A zero-debt balance sheet gives durable financial flexibility for a mineral explorer. It lowers bankruptcy risk, preserves borrowing capacity, and increases optionality to fund multi-year exploration cycles through equity or project finance without immediate solvency pressure.

High Gross Margin at Revenue Level

Gross profit equaling revenue implies low direct extraction or COGS, suggesting project-level economics could be attractive if exploration succeeds. Structurally, this supports potential scalable margins once overheads are controlled and commercial production or asset sales occur.

Sizeable Equity Cushion

A substantial equity base relative to assets provides a durable buffer to absorb exploration losses and fund near-term programs without immediate asset impairment. This reduces short-term refinancing urgency and supports longer runway for project maturation.

Negative Factors

Shrinking and Volatile Revenue

A steep, persistent revenue decline undermines the path to sustainable operations for an explorer. Small, volatile top-line inflows make project funding unpredictable, increase reliance on capital markets, and impair the company’s ability to demonstrate progressing commercial viability.

Persistent Cash Burn

Sustained negative operating and free cash flow indicates structural cash burn that requires recurrent external funding. Over months, this forces dilution or debt raises, constrains ability to advance exploration programs, and risks depleting reserves if operating losses continue unabated.

Widening Net Losses

Rapidly increasing net losses erode the equity cushion and highlight an operating cost structure dominated by overheads. If losses persist, they will reduce financial flexibility, necessitate frequent fundraising, and impair long-term ability to convert exploration assets into value.

Bubalus Resources Ltd. Business Overview & Revenue Model

Company Description

Bubalus Resources Limited engages in acquiring, exploring, evaluating, and exploiting mineral resource projects. The company engages in Amadeus project prospective for manganese and base metals; Nolans East project prospective for light rare earths; Coomarie project prospective for heavy rare earths; and Pargee project prospective for heavy rare earths located in the Northern Territory and Western Australia. Bubalus Resources Limited was incorporated in 2021 and is based in Perth, Australia.

How the Company Makes Money

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Bubalus Resources Ltd. Financial Statement Overview

Summary

Despite a strong solvency position (zero debt and equity close to total assets), financial performance is weak: revenue is small and declined ~42% in 2025, losses widened materially, and operating/free cash flow remained negative with worsening cash burn in 2025.

Income Statement

Revenue remains very small and volatile, with the latest year down ~42% (2025 vs. 2024). Losses widened materially in 2025 (net loss of ~1.67M vs. ~0.39M prior year), driving a sharply weaker net margin. A positive is that reported gross profit equals revenue (high gross margin), but the business is still heavily loss-making at the operating level, suggesting overhead and operating costs dominate the income statement.

Balance Sheet

The balance sheet is conservatively positioned with zero debt across all reported periods and a sizeable equity base relative to total assets (2025 equity ~6.0M vs. assets ~6.1M). The main weakness is ongoing negative profitability, reflected in negative returns on equity that worsened in 2025, which can erode the equity cushion over time if losses persist.

Cash Flow

Cash generation is weak: operating cash flow is consistently negative and worsened in 2025 (about -0.92M vs. -0.33M in 2024). Free cash flow is also deeply negative and deteriorated in 2025 (about -1.89M), indicating continued cash burn. A relative positive is that free cash flow has generally tracked the loss level (free cash flow to net income above 1x), but the company still depends on external funding or existing cash reserves to sustain operations.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022
Income Statement
Total Revenue	96.04K	96.04K	114.77K	99.34K	0.00
Gross Profit	96.04K	96.04K	114.77K	99.34K	0.00
EBITDA	-705.46K	0.00	-391.84K	-653.84K	-119.95K
Net Income	-1.67M	-1.67M	-392.00K	-654.00K	-120.00K
Balance Sheet
Total Assets	6.12M	6.12M	4.71M	4.79M	305.17K
Cash, Cash Equivalents and Short-Term Investments	3.25M	3.25M	2.90M	3.89M	304.55K
Total Debt	0.00	0.00	0.00	0.00	0.00
Total Liabilities	122.42K	122.42K	86.27K	141.43K	75.30K
Stockholders Equity	6.00M	6.00M	4.63M	4.65M	229.87K
Cash Flow
Free Cash Flow	-1.89M	-1.89M	-986.21K	-1.04M	-91.30K
Operating Cash Flow	-921.95K	-921.95K	-331.54K	-539.75K	-91.30K
Investing Cash Flow	-966.21K	-966.21K	-654.67K	-500.68K	0.00
Financing Cash Flow	2.24M	2.24M	-6.52K	4.63M	548.13K

Bubalus Resources Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.14
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BUS, the sentiment is Neutral. The current price of 0.14 is above the 20-day moving average (MA) of 0.12, above the 50-day MA of 0.13, and above the 200-day MA of 0.13, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 46.63 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:BUS.

Bubalus Resources Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
BUS	48 Neutral	AU$8.04M	-3.03	-31.37%	―	―	-242.34%
BMG	46 Neutral	AU$25.69M	-17.14	-7.48%	―	―	87.39%
HLX	45 Neutral	AU$5.35M	―	-7.78%	―	―	―
EM2	45 Neutral	AU$14.03M	-0.35	―	―	―	-80.38%
SVY	44 Neutral	AU$10.96M	-1.98	-56.10%	―	―	44.90%
SRN	37 Underperform	AU$8.05M	―	-26.26%	―	―	78.57%

Bubalus Resources Ltd. Corporate Events

Bubalus Resources Adjusts Company Secretarial Roles as Acomb Takes Leave

Bubalus Resources Limited has announced that Anthea Acomb has resigned from her role as Joint Company Secretary, effective 30 January 2026, as she commences maternity leave. The company has confirmed that Melanie Ross will continue as Company Secretary and will remain responsible for communications with the ASX, indicating continuity in its corporate governance and regulatory liaison despite the change in its secretarial team.

The most recent analyst rating on (AU:BUS) stock is a Sell with a A$0.12 price target. To see the full list of analyst forecasts on Bubalus Resources Ltd. stock, see the AU:BUS Stock Forecast page.

Bubalus Resources Calls February General Meeting, Shifts to Online Meeting Materials

Bubalus Resources Ltd has called a general meeting of shareholders to be held on 26 February 2026 in Perth, Western Australia, and will make meeting materials available electronically in line with corporate law requirements rather than issuing hard-copy notices by default. Shareholders are being urged to participate in governance by attending in person or lodging proxy forms by 24 February 2026, underscoring the company’s focus on formal shareholder engagement and compliance with updated regulatory and disclosure practices.

The most recent analyst rating on (AU:BUS) stock is a Sell with a A$0.12 price target. To see the full list of analyst forecasts on Bubalus Resources Ltd. stock, see the AU:BUS Stock Forecast page.

Bubalus Resources Calls General Meeting to Ratify Placements and Approve Broker Options

Bubalus Resources Ltd has called a general meeting of shareholders in Perth on 26 February 2026 to consider several capital management resolutions. Only shareholders registered as at 4:00pm WST on 24 February 2026 will be entitled to vote.

The meeting will seek shareholder ratification of two prior share placements totaling 12.5 million shares issued under different ASX Listing Rule capacities, and approval to issue 2.5 million options to broker Inyati or its nominees. These approvals would regularise past capital raisings, preserve the company’s placement capacity under listing rules, and formalise performance-based incentives for its corporate adviser, with implications for existing shareholders’ dilution and the company’s future funding flexibility.

The most recent analyst rating on (AU:BUS) stock is a Sell with a A$0.12 price target. To see the full list of analyst forecasts on Bubalus Resources Ltd. stock, see the AU:BUS Stock Forecast page.

Bubalus Completes Maiden Drilling Program at Avon Plains

Bubalus Resources Limited announced the successful completion of its maiden Reverse Circulation (RC) drilling program at the Avon Plains Gold Project in Central Victoria. The program included drilling 15 holes, targeting historically mined gold-bearing reefs and other mineral anomalies, with assay results expected by February 2026. This milestone signifies progress in the company’s exploration efforts and positions it closer to realizing the site’s potential resource value.

Bubalus Resources Issues New Shares and Updates on Drilling Program

Bubalus Resources Ltd. has issued 12.5 million fully paid ordinary shares without disclosure to investors under specific provisions of the Corporations Act. The company is conducting its first drilling program at the Avon Plains Gold Project, but has not yet gathered sufficient data to report on the results. An update will be provided once reliable information is available.

Bubalus Resources Launches Drilling at Avon Plains Gold Project

Bubalus Resources Ltd. has initiated a Reverse Circulation (RC) drilling program at the Avon Plains Gold Project in Central Victoria, aiming to explore and delineate gold-bearing reefs. This project, situated in a historically significant yet underexplored area, could reveal new gold deposits, enhancing the company’s position in the gold mining sector and potentially benefiting stakeholders through increased resource identification.

Bubalus Resources Ltd. Announces Proposed Securities Issue

Bubalus Resources Ltd. has announced a proposed issue of 12,500,000 ordinary fully paid securities, with an anticipated issue date of December 12, 2025. This move is part of a placement or other type of issue, and the company has submitted the necessary information to the Australian Securities Exchange (ASX) for the potential quotation of these securities. This announcement indicates a strategic effort by Bubalus Resources Ltd. to potentially raise capital, which could impact its market positioning and provide opportunities for stakeholders.

$1.5 Million Raised by Bubalus Resources to Boost Gold and Critical Minerals Projects

Bubalus Resources Ltd. has successfully raised $1.5 million through a share placement to advance its gold and critical minerals projects. The funds will be used to expedite the company’s Victorian Gold Projects and Northern Territory Critical Minerals Projects, with a maiden drilling program at the Avon Plains Gold Project set to begin soon. This financial boost strengthens Bubalus’s position in the mineral exploration industry and supports its strategic initiatives for growth.

Bubalus Resources Initiates Trading Halt for Capital Raising Announcement

Bubalus Resources Limited has requested a trading halt on its securities pending an announcement about a proposed capital raising. The trading halt is expected to last until the announcement is made or until the start of normal trading on December 4, 2025. This move indicates a potential strategic financial maneuver by the company, which could impact its market position and stakeholder interests.

Bubalus Resources Confirms Gold-Bearing System at Crosbie North

Bubalus Resources Ltd. has announced promising results from its maiden drilling program at the Crosbie North gold prospect, located in the Victorian goldfields. The drilling has confirmed a gold-bearing system, with significant gold mineralization associated with quartz veining and sulphides. Encouraged by these results, the company plans further exploration activities to test previously inaccessible targets and refine geophysical data, potentially enhancing its position in the gold mining sector.

Bubalus Resources Advances Northern Territory Projects with Promising Mineral Findings

Bubalus Resources Ltd. has conducted a site visit to its key Northern Territory projects, the Nolans East Rare Earths Project and the Amadeus Battery/Base Metals Project. The visit assessed logistics and geology ahead of exploration programs, including a maiden drilling program at Nolans East. A review of historical data from Amadeus revealed significant gallium, manganese, and cobalt mineralization, enhancing the project’s potential for critical metals and highlighting the complexity of the mineral systems present.

Bubalus Resources Ltd. Successfully Passes All AGM Resolutions

Bubalus Resources Ltd. announced that all resolutions presented at its annual general meeting were successfully passed. This outcome includes the adoption of the remuneration report, re-election of director Alec Pismiris, and approval of a 10% placement capacity, which collectively support the company’s strategic governance and operational flexibility.

Bubalus Resources Advances Victorian Gold Exploration with New Drilling Initiatives

Bubalus Resources Limited has completed its maiden diamond drilling program at the Crosbie North project, submitting 144 samples for assay with results expected in December 2025. Additionally, 47 core samples from Crosbie South have been submitted for further analysis after initial drilling indicated promising gold intersections. The company has secured a drill rig for the Avon Plains Gold Project, with drilling set to begin in December. Encouraged by exploration results, Bubalus has extended its option agreement with Syndicate Minerals, allowing continued exploration and development of its Victorian gold projects, which may enhance its standing in the gold mining industry.