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C29 Metals Limited
(Sydney:C29)
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Rating:42Neutral
Price Target:
AU$0.01
â–¼(-40.00% Downside)
Action:Reiterated
Date:07/31/26
The score is driven primarily by weak financial performance—widening losses and persistent negative operating/free cash flow—offset only partially by low leverage. Technicals also weigh on the score as the stock trades well below key longer-term moving averages. Valuation provides limited support given the negative P/E and no dividend yield data.
Positive Factors
Strategic focus on battery & critical metals
C29's exploration mandate targets battery and critical metals, which are structurally linked to electrification and energy-storage demand. Over a 2–6 month horizon this alignment increases the probability of partner interest, JV opportunities or asset transactions that create strategic optionality.
Negative Factors
Persistent negative cash flow
Consistent negative operating and free cash flow, which worsened in 2025, forces reliance on external capital to sustain exploration. Persistent cash burn increases dilution risk, constrains multi-stage programs, and reduces the company's ability to self-fund project advancement over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strategic focus on battery & critical metals
C29's exploration mandate targets battery and critical metals, which are structurally linked to electrification and energy-storage demand. Over a 2–6 month horizon this alignment increases the probability of partner interest, JV opportunities or asset transactions that create strategic optionality.
Read all positive factors
C29 Metals Limited (C29) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$2.69M
Dividend YieldN/A
Average Volume (3M)527.94K
Price to Earnings (P/E)―
Beta (1Y)0.81
Revenue GrowthN/A
EPS Growth-38.24%
CountryAU
Employees1
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.04
Shares Outstanding223,985,280
10 Day Avg. Volume518,389
30 Day Avg. Volume527,938
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)<0.01
Price to Sales (P/S)0.74
P/FCF Ratio>-0.01
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)N/A
Revenue Forecast (FY)N/A
C29 Metals Limited Business Overview & Revenue Model
Company Description
C29 Metals Limited, an Australian-based mining exploration firm established in 2020 and headquartered in Subiaco, is dedicated to the identification, exploration, and development of copper, gold, and base metal deposits across Australia. The compa...
How the Company Makes Money
C29 Metals Limited (C29) does not typically generate recurring operating revenue in the way a producing mining company does, because its core business is mineral exploration rather than mineral production. Publicly available information is insuffi...
C29 Metals Limited Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
55
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 28.09K | 43.74K | 0.00 | 20.07K | 51.40K | 0.00 |
| Gross Profit | 0.00 | 43.74K | -562.00 | 20.07K | 50.92K | 0.00 |
| EBITDA | -6.51M | -6.66M | -3.42M | -2.64M | -1.00M | -58.81K |
| Net Income | -6.55M | -6.76M | -3.42M | -2.64M | -1.00M | -58.81K |
Balance Sheet | ||||||
| Total Assets | 327.90K | 3.39M | 7.67M | 4.87M | 5.45M | 409.16K |
| Cash, Cash Equivalents and Short-Term Investments | 210.77K | 1.05M | 2.23M | 1.31M | 3.14M | 402.66K |
| Total Debt | 2.83K | 23.90K | 15.47K | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 155.16K | 115.74K | 234.19K | 404.51K | 86.82K | 32.87K |
| Stockholders Equity | 172.75K | 3.27M | 7.44M | 4.46M | 5.36M | 376.29K |
Cash Flow | ||||||
| Free Cash Flow | -1.52M | -3.40M | -2.29M | -2.86M | -1.84M | -32.44K |
| Operating Cash Flow | -1.51M | -1.40M | -1.44M | -570.08K | -781.82K | -30.36K |
| Investing Cash Flow | -788.50K | -2.01M | -842.64K | -2.29M | -1.05M | -2.08K |
| Financing Cash Flow | -37.06K | 2.24M | 3.20M | 1.02M | 4.57M | 652.65K |
C29 Metals Limited Technical Analysis
Negative
0.02
Price Trends
0.02
Negative
0.02
Negative
0.02
Negative
Market Momentum
>-0.01
Negative
36.16
Neutral
-33.33
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:C29, the sentiment is Negative. The current price of 0.02 is above the 20-day moving average (MA) of 0.01, above the 50-day MA of 0.02, and below the 200-day MA of 0.02, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 36.16 is Neutral, neither overbought nor oversold. The STOCH value of -33.33 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:C29.
C29 Metals Limited Peers Comparison
UnderperformOutperform
Sector (61)
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% | |
49 Neutral | AU$6.40M | 2.33 | 3.77% | ― | ― | ― | |
43 Neutral | AU$4.16M | -0.45 | -0.03% | ― | ― | -18.33% | |
43 Neutral | AU$3.86M | -8.99 | -18.57% | ― | ― | 71.13% | |
42 Neutral | AU$2.69M | -0.32 | -380.56% | ― | ― | -38.24% | |
42 Neutral | AU$3.80M | -1.25 | -58.32% | ― | ― | -47.83% |
* Basic Materials Sector Average
AU:C29
C29 Metals Limited
0.01
>-0.01
-31.58%
AU:CMO
Cosmo Metals Limited
0.01
-0.01
-50.00%
AU:PBL
Parabellum Resources Ltd.
0.07
0.01
17.86%
AU:SRN
Surefire Resources NL
0.02
>-0.01
-11.11%
AU:SBR
Sabre Resources Ltd
0.01
0.00
0.00%
C29 Metals Limited Corporate Events
C29 Metals Updates Registered Office and Business Address in WA
Jul 31, 2026
C29 Metals Limited has announced a change to its registered office and principal place of business, relocating both to 1 Penn Lane in Hammond Park, Western Australia. The company has also updated its postal address to PO Box 3310 in Success, WA, c...
C29 Metals Raises Capital, Exits Namibian Deal and Sells Non-Core Mayfield Project
Jul 30, 2026
C29 Metals reported that it raised just over $1.04 million through a share placement during the June quarter, with the funds earmarked for exploration on its Australian copper and gold projects and general working capital. Shareholders later ratif...
C29 Metals Appoints New Director With Significant Equity Stake
Jul 8, 2026
C29 Metals Limited has appointed Ms Ailsa Osborne as a director effective 8 July 2026, strengthening its board with additional corporate expertise. Osborne’s relevant interests include 130,000 ordinary shares and 2,000,000 unquoted options i...
C29 Metals Discloses Final Interests as Director Shannon Green Steps Down
Jul 8, 2026
C29 Metals Limited has announced that Shannon Green has ceased to be a director of the company as of 8 July 2026, with the notification lodged under ASX listing rule requirements. The filing confirms Green’s final interests, including 2,000,...
C29 Metals Announces Managing Director Resignation and Interim Board Appointment
Jul 8, 2026
C29 Metals Limited has announced the immediate resignation of Managing Director Shannon Green, an experienced mining executive with more than 25 years in resource development and operations. Green had been instrumental in advancing projects from e...
C29 Metals Clears 6.25 Million New Shares for Secondary Trading After Director Loan Conversion
Jul 7, 2026
C29 Metals Limited has issued 6,250,000 fully paid ordinary shares following the conversion of a director loan, a move that was previously approved by shareholders at a general meeting held on 24 June 2026. The company has lodged a cleansing notic...
C29 Metals Seeks ASX Quotation for 6.25 Million New Shares
Jul 7, 2026
C29 Metals Limited is an Australian-listed company in the metals sector, with ordinary fully paid shares traded on the ASX under the ticker C29. It leverages capital markets issuance to support corporate activities and position itself for future o...
C29 Metals Cancels Cancun Deal and Tranche 2 Capital Raising
Jul 1, 2026
C29 Metals Limited has withdrawn a previous Appendix 3B announcement after terminating the planned Cancun Transaction and cancelling the associated Tranche 2 capital raising. The cancellation indicates that the company will no longer proceed with ...
C29 Metals Scraps Namibian Deal and Halts Capital Raising After Due Diligence
Jul 1, 2026
C29 Metals has terminated its binding agreement to acquire Cancun Gold Pty Ltd, which held or had rights to acquire an 80% interest in seven copper and gold exploration licence applications in Namibia. The company’s final due diligence, incl...
C29 Metals Requests Trading Halt Ahead of Cancun Acquisition Update
Jun 30, 2026
C29 Metals Limited has requested a trading halt in its securities on the ASX, with the halt to remain in place until an upcoming announcement is released or normal trading resumes on 2 July 2026. The move follows completion of final due diligence ...
C29 Metals Wins Strong Shareholder Backing for Capital and Incentive Resolutions
Jun 24, 2026
C29 Metals Limited reported that all resolutions put to shareholders at its 24 June 2026 general meeting were passed by poll, including approvals for acquisition shares, consideration performance rights and introducer shares, as well as ratificati...
C29 Metals Calls Extraordinary General Meeting, Shifts to Digital Notice Distribution
May 25, 2026
C29 Metals Limited has called an Extraordinary General Meeting of shareholders for 10:00 a.m. AWST on 24 June 2026 at its West Perth offices, inviting investors to attend in person, by proxy or via an authorised representative. In line with Austra...
C29 Metals Calls Extraordinary Meeting to Approve Major Share Issue for Acquisition
May 25, 2026
C29 Metals Limited has called an extraordinary general meeting of shareholders for 24 June 2026 in West Perth, Western Australia. The meeting will determine shareholder eligibility as at 22 June 2026 and address key corporate actions outlined in a...
C29 Metals Clears 43.5m New Shares for Secondary Trading After Placement
May 7, 2026
C29 Metals has issued 43,547,043 fully paid ordinary shares under Tranche 1 of a placement and has lodged a cleansing notice under section 708A(5)(e) of the Corporations Act 2001. By providing this notice, the company confirms the shares were issu...
C29 Metals Seeks ASX Quotation for 43.5 Million New Shares
May 7, 2026
C29 Metals Limited has applied for quotation on the ASX of 43,547,043 new ordinary fully paid shares, with an issue date of 6 May 2026. The application, lodged as an Appendix 2A, formalises the admission of these securities to trading, expanding t...
C29 Metals Secures Namibian Copper-Gold Portfolio and A$4.7m Placement
Apr 30, 2026
C29 Metals has outlined a significant shift in its growth strategy, securing binding agreements to acquire an 80% stake, with an option to increase to 90%, in a portfolio of seven copper and gold exploration licence applications in Namibia. The mo...
C29 Metals Plans Issue of 30 Million Long-Dated Options
Apr 30, 2026
C29 Metals Limited has lodged an Appendix 3B with the ASX outlining a proposed securities issue via a placement or similar mechanism. The company plans to issue up to 30 million new options in a yet-to-be-confirmed class, exercisable at $0.06 and ...
C29 Metals Locks in Pricing for Planned ASX Securities Issue
Apr 30, 2026
C29 Metals Limited has updated its notification to the ASX regarding a proposed issue of securities under an Appendix 3B filing. The update confirms that the transaction price for the planned placement or other type of securities issue has now bee...
C29 Metals Makes Transformational Namibian Copper and Gold Move Backed by $4.7m Raising
Apr 30, 2026
C29 Metals has struck a binding deal to acquire an 80% stake, with an option to lift this to 90%, in a 1,074sqkm portfolio of copper and gold exploration licences across three project areas in Namibia, including the advanced Kopermyn Copper Projec...
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.