C29 Metals Limited (C29) AI Stock Analysis

• Market Cap: AU$3.83M
• Dividend Yield: N/A
• Average Volume (3M): 359.19K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.22
• Revenue Growth: N/A
• EPS Growth: 60.00%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 63
• Industry: Industrial Materials
• EPS (TTM): -0.03
• Shares Outstanding: 174,188,230
• 10 Day Avg. Volume: 484,553
• 30 Day Avg. Volume: 359,194
• PEG Ratio: -0.01
• Price to Book (P/B): 0.84
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -1.31
• 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

• Rating: 37 Underperform
• Price Target: ―

C29 Metals Limited is facing significant financial challenges, with declining revenues and consistent losses, negatively impacting its financial performance score. Technical analysis indicates a bearish trend with oversold conditions, suggesting potential short-term weakness. Valuation metrics are unfavorable with a negative P/E ratio and no dividend yield, reflecting a lack of immediate return for investors.

C29 Metals Limited Business Overview & Revenue Model

Company Description

C29 Metals Limited, a mining exploration company, focuses to identify, explore for, and develop copper, gold, and base metal assets in Australia. The company holds 100% interest in the Mayfield project comprising of one exploration licenses covering an area approximately 91 square kilometers located in Queensland. In addition, it owns interests in the Sampson Tank project that includes one granted exploration license covering approximately 93 square kilometers of ground located in New South Wales; and the Reedy Creek project comprising one granted exploration license totaling 40 square kilometers of ground located in New South Wales. The company also holds interests in the Torrens project consisting of two applications for exploration licenses covering approximately 1,700 square kilometers of ground located in South Australia; and the Stadlers project, which comprise one granted exploration license covering approximately 63.2 square kilometers of ground located in Western Australia. C29 Metals Limited was incorporated in 2020 and is based in Subiaco, Australia.

How the Company Makes Money

C29 Metals Limited makes money through the exploration and development of mineral resources. The company's primary revenue streams include the sale of extracted minerals, royalties from joint ventures, and potential future production agreements. By successfully discovering economically viable mineral deposits, C29 can either develop these resources into operational mines or sell its interests to larger mining companies. Strategic partnerships and joint ventures with other mining entities can also contribute to revenue, as these collaborations can provide additional capital and expertise for project development. The company's earnings are influenced by factors such as mineral prices, exploration success, and the cost-efficiency of its operations.

C29 Metals Limited Financial Statement Overview

Summary

C29 Metals Limited faces significant financial challenges, marked by declining revenue and consistent losses. The company maintains a solid equity base with minimal debt, yet struggles with cash flow generation. Continued reliance on external financing could pose risks if operational performance does not improve.

Income Statement

C29 Metals Limited has shown declining revenue from 2022 to 2024 with zero revenue in 2021 and 2024. The gross profit margin is negative, indicating that the company is not covering its costs. Both EBIT and EBITDA margins are negative, and the net profit margin is deeply negative, reflecting significant losses.

Balance Sheet

The company has a strong equity position with a high equity ratio as stockholders' equity forms the majority of total assets. The debt-to-equity ratio is very low, indicating minimal leverage. However, the return on equity is negative due to sustained losses.

Cash Flow

Negative operating cash flow and free cash flow highlight challenges in generating cash from operations. The free cash flow to net income ratio is negative, indicating inefficiencies in cash flow management. Financing activities have been positive, suggesting reliance on external funding.

Breakdown	TTM	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	11.60K	0.00	20.07K	51.40K	0.00
Gross Profit	11.60K	-562.00	18.95K	50.92K	0.00
EBITDA	-873.58K	-1.28M	-2.64M	-1.00M	0.00
Net Income	-2.87M	-3.42M	-2.64M	-1.00M	-58.81K
Balance Sheet
Total Assets	9.10M	7.67M	4.87M	5.45M	409.16K
Cash, Cash Equivalents and Short-Term Investments	2.56M	2.23M	1.31M	3.14M	402.66K
Total Debt	0.00	15.47K	0.00	0.00	0.00
Total Liabilities	237.73K	234.19K	404.51K	86.82K	32.87K
Stockholders Equity	8.86M	7.44M	4.46M	5.36M	376.29K
Cash Flow
Free Cash Flow	-3.36M	-2.29M	-2.86M	-1.84M	-32.44K
Operating Cash Flow	-1.67M	-1.44M	-570.08K	-781.82K	-30.36K
Investing Cash Flow	-1.70M	-842.64K	-2.29M	-1.05M	-2.08K
Financing Cash Flow	7.70M	3.20M	1.02M	4.57M	435.10K

C29 Metals Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.02
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: 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 below the 20-day moving average (MA) of 0.03, below the 50-day MA of 0.03, and below the 200-day MA of 0.06, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 22.46 is Positive, neither overbought nor oversold. The STOCH value of 12.59 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	62 Neutral	$9.96B	9.44	-0.15%	2.99%	2.10%	-35.27%
GML	51 Neutral	AU$11.04M	4.29	8.76%	―	―	―
KOR	40 Underperform	AU$2.94M	―	-149.92%	―	―	32.43%
NC6	40 Underperform	AU$19.83M	―	-1014.79%	―	-70.17%	-41.07%
C29	37 Underperform	AU$3.83M	―	-46.89%	―	―	60.00%
I6R		€70.10M	―		―	―	―
BSX	40 Underperform	AU$124.02M	―	-51.66%	―	―	59.92%

C29 Metals Limited Corporate Events

C29 Metals Forms Strategic Joint Venture in Kazakhstan

C29 Metals Limited has signed a Binding Heads of Agreement with Bask International Group Ltd to form a joint venture in Kazakhstan. This partnership aims to identify and develop advanced exploration projects, primarily focusing on copper and gold. The joint venture is a strategic move to accelerate C29’s growth and leverage Bask’s extensive experience and network in Kazakhstan’s resource sector. The agreement is expected to significantly enhance C29’s project portfolio and provide access to new opportunities in the region.

C29 Metals Expands Kazakhstan Project and Strengthens Exploration Team

C29 Metals Limited reported a strong cash position at the end of the March 2025 quarter and announced the appointment of Dr. Robert Stuart as Chief Geoscientist & Exploration Manager. The company successfully resubmitted its Ministerial Transfer Application and expanded its tenement area in Kazakhstan by 116 km², bringing the total to approximately 399 km². This expansion is expected to enhance the company’s exploration potential and establish initial priority drill targets, positioning C29 Metals favorably within the industry.

C29 Metals Appoints New Exploration Manager to Boost Central Asian Ventures

C29 Metals Limited has appointed Dr. Robert Stuart as the new Exploration Manager and Chief Geoscientist. With over 30 years of experience in mineral exploration, Dr. Stuart brings extensive expertise in managing exploration programs across Central Asia, Russia, and other regions. His appointment is expected to enhance C29 Metals’ exploration activities, particularly in Kazakhstan, which is seen as a promising frontier for mineral discovery. The company’s strategic focus on this region, supported by Dr. Stuart’s experience and language skills, positions it well for future growth and development in the mineral-rich Central Asian Orogenic Belt.

C29 Metals Expands Ulytau Project with New License

C29 Metals Limited has successfully expanded its Ulytau project in southern Kazakhstan by acquiring a new exploration license, increasing the project’s total area to approximately 399 km². This strategic expansion enhances the company’s position in the multi-mineral exploration sector, demonstrating its commitment to growth and the support it receives in Kazakhstan.

C29 Metals Resubmits Application for Ulytau Tenement Transfer

C29 Metals Limited has resubmitted its application for Ministerial approval to transfer ownership of Ulytau Resources Limited, following an initial refusal. The company is actively engaging with government ministries and has provided additional documentation to support its case. Despite the pause in exploration activities, C29 is optimistic about a favorable outcome, although the timeline for resolution remains uncertain.

C29 Metals Limited Announces Key Corporate Information Updates

C29 Metals Limited, a company listed on the Australian Securities Exchange, has announced corporate information updates including the appointment of key directors and the location of its registered office in West Perth, WA. The company has also provided details about its auditors and share registry services. This announcement is likely to maintain transparency and ensure stakeholders are informed about the company’s governance and operational base, which could enhance investor confidence and operational stability.

C29 Metals Limited Issues New Unquoted Securities

C29 Metals Limited announced the issuance of 1,000,000 unquoted equity securities, specifically options expiring on January 29, 2028, with an exercise price of $0.11. This move is part of an employee incentive scheme, indicating the company’s strategy to retain and motivate its workforce, potentially impacting its operational efficiency and market position.

C29 Metals Limited Changes Share Registry Services

C29 Metals Limited has announced a change in its share registry services, transitioning from Automic Registry Services to Computershare Investor Services Pty Limited effective 24 February 2025. This change aims to provide shareholders with improved access and management of their holdings through Computershare’s secure online Investor Centre portal, enhancing operational efficiency and stakeholder engagement.