Carnavale Resources Limited (AU:CAV)
ASX:CAV
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Carnavale Resources Limited
(Sydney:CAV)
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Rating:46Neutral
Price Target:
AU$0.10
▼(-3.00% Downside)
Action:ReiteratedDate:03/20/26
The score is primarily constrained by ongoing losses and sustained negative operating/free cash flow, alongside bearish technical momentum (below key moving averages with negative MACD). A debt-free balance sheet provides some stability, but valuation is difficult to support given negative earnings and no dividend data.
Positive Factors
Debt-free balance sheet
Zero financial leverage and sizeable equity relative to assets provide durable financial flexibility for an early-stage explorer. This reduces solvency and interest-rate risk, supports staying-funded for phased exploration, and improves ability to negotiate JV or farm-out terms without urgent debt pressure.
Negative Factors
Persistent negative operating and free cash flow
Sustained negative operating and free cash flow creates an enduring funding requirement for exploration programs. Continued cash burn increases dependency on equity raises or partner funding, elevating dilution risk and constraining the company’s ability to independently execute prolonged drilling campaigns or follow-up work.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
Zero financial leverage and sizeable equity relative to assets provide durable financial flexibility for an early-stage explorer. This reduces solvency and interest-rate risk, supports staying-funded for phased exploration, and improves ability to negotiate JV or farm-out terms without urgent debt pressure.
Read all positive factors
Carnavale Resources Limited (CAV) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$40.81M
Dividend YieldN/A
Average Volume (3M)N/A
Price to Earnings (P/E)―
Beta (1Y)0.13
Revenue GrowthN/A
EPS Growth-208.82%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding408,065,550
10 Day Avg. VolumeN/A
30 Day Avg. VolumeN/A
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)1.48
Price to Sales (P/S)99.42
P/FCF Ratio-5.99
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
Carnavale Resources Limited Business Overview & Revenue Model
Company Description
Carnavale Resources Limited operates as a mineral exploration company in Australia. It explores for tin, lithium, cobalt, silver, nickel, gold, copper, and precious metal deposits. The company holds a 100% interest in the Grey Dam nickel sulphide ...
How the Company Makes Money
Carnavale Resources Limited’s revenue model is primarily tied to the development and monetisation of mineral exploration assets rather than recurring operating revenue from producing mines. Based on publicly available information, specific, consis...
Carnavale Resources Limited Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 82.94K | 151.84K | 222.57K | 55.22K | 3.35K | 10.63K |
| Gross Profit | 82.94K | 151.84K | 222.57K | 54.60K | 2.88K | 10.63K |
| EBITDA | -1.13M | -438.31K | -765.00K | -550.52K | -1.49M | -1.52M |
| Net Income | -3.64M | -3.03M | -791.14K | -452.61K | -1.41M | -1.49M |
Balance Sheet | ||||||
| Total Assets | 16.64M | 10.40M | 11.49M | 8.98M | 9.49M | 7.15M |
| Cash, Cash Equivalents and Short-Term Investments | 6.27M | 777.60K | 1.24M | 919.18K | 3.25M | 3.53M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 242.97K | 224.62K | 338.19K | 379.08K | 527.02K | 291.66K |
| Stockholders Equity | 16.40M | 10.18M | 11.15M | 8.60M | 8.97M | 6.85M |
Cash Flow | ||||||
| Free Cash Flow | -1.58M | -2.52M | -2.62M | -2.33M | -3.25M | -2.50M |
| Operating Cash Flow | -466.56K | -388.29K | -351.10K | -416.25K | -501.98K | -541.43K |
| Investing Cash Flow | -1.86M | -2.13M | -2.26M | -1.91M | -2.75M | -1.95M |
| Financing Cash Flow | 6.52M | 2.05M | 2.94M | -1.66K | 2.97M | 4.83M |
Carnavale Resources Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | AU$20.06M | 5.36 | 9.37% | 8.14% | ― | -16.82% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
46 Neutral | AU$40.81M | -8.10 | -27.39% | ― | ― | -208.82% | |
43 Neutral | AU$17.08M | -1.42 | -483.48% | ― | ― | 51.48% | |
42 Neutral | AU$46.33M | -9.34 | -8.15% | ― | ― | 88.57% | |
40 Underperform | AU$34.86M | -8.50 | -4.08% | ― | ― | 74.51% |
* Basic Materials Sector Average
AU:CAV
Carnavale Resources Limited
0.10
0.02
20.48%
AU:AUZ
Australian Mines
0.02
<0.01
70.00%
AU:AMD
Arrow Minerals Limited
0.02
0.00
0.00%
AU:GUL
Gullewa Limited
0.09
0.02
26.03%
AU:PXX
PolarX Ltd
0.02
<0.01
70.00%
Carnavale Resources Limited Corporate Events
Carnavale Resources Files Half-Year Financial Report for December 2025
Mar 6, 2026
Carnavale Resources Limited has released its half-yearly financial report for the six months ended 31 December 2025, covering the company and its controlled entities. The report package includes the directors’ report, financial statements, n...
Carnavale Completes Key BFS Drilling at Kookynie Gold Project
Mar 6, 2026
Carnavale Resources has completed reverse circulation and diamond drilling programs at its Kookynie Gold Project, including metallurgical, geotechnical and infill resource drilling across the Swiftsure and Tiptoe proposed open pits. These programs...
Carnavale Reaffirms Kookynie Gold Project as Near-Term Production Asset
Feb 10, 2026
Carnavale Resources Limited has released an investor presentation highlighting its Kookynie Gold Project as a near-term production asset, underpinned by updated mineral resource estimates and economic studies. The company emphasises that the techn...
Carnavale Secures Kookynie Mining Lease as BFS Drilling Ramps Up
Feb 9, 2026
Carnavale Resources has secured the grant of Mining Lease M40/362, which covers all resources at its Kookynie Gold Project, including the high-grade Swiftsure and Tiptoe deposits. The new lease consolidates previous prospecting and exploration hol...
Carnavale Starts Bankable Feasibility Drilling at Kookynie Gold Project
Feb 3, 2026
Carnavale Resources has commenced Bankable Feasibility Study drilling at its Kookynie Gold Project, 60km south of Leonora in Western Australia, marking a key step toward moving the high‑grade Swiftsure and Tiptoe deposits into development. T...
Carnavale Clears Key Native Title Hurdle at Kookynie Gold Project
Jan 29, 2026
Carnavale Resources reported that December quarter activities centred on the Kookynie Gold Project, where it achieved a key milestone by signing a Mining and Heritage Agreement with the Wangkatja Tjungula Aboriginal Corporation on behalf of the Ny...
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.
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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.