Codrus Minerals Ltd (CDR) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: N/A
• Average Volume (3M): 658.48K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.69
• Revenue Growth: N/A
• EPS Growth: 59.93%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): >-0.01
• Shares Outstanding: 206,734,380
• 10 Day Avg. Volume: 1,124,086
• 30 Day Avg. Volume: 658,483
• PEG Ratio: 0.04
• Price to Book (P/B): 3.66
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -3.61
• 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: 44 Neutral
• Price Target: AU$0.03 ▲(25.00% Upside)

The score is primarily constrained by weak financial performance—persistent losses, negligible/volatile revenue, and ongoing cash burn (despite low debt). Technicals are supportive with price above key moving averages, but extremely overbought momentum signals raise near-term pullback risk. Valuation is not supportive due to negative earnings (negative P/E) and no dividend data.

Positive Factors

Strategic Asset Sale

The sale of the Middle Creek Project can refocus resources on more promising ventures, potentially improving operational efficiency and market positioning.

Promising Exploration Results

Successful exploration results can enhance Codrus's resource base, supporting future growth and strengthening its competitive position in the gold industry.

Shareholder Support

Strong shareholder support for strategic initiatives and leadership can provide stability and confidence in executing long-term growth plans.

Negative Factors

Ongoing Losses

Continued losses and negative cash flow highlight financial instability, limiting the company's ability to self-fund growth and requiring external financing.

Eroding Equity

Declining equity indicates financial deterioration, raising concerns about the company's long-term sustainability and ability to withstand market fluctuations.

Minimal Revenue

Lack of consistent revenue generation suggests challenges in achieving operational scale, impacting the company's ability to reach profitability.

Codrus Minerals Ltd Business Overview & Revenue Model

Company Description

Codrus Minerals Limited engages in the exploration of mineral properties. It explores for gold and nickel deposits. The company holds a 100% interest in the Silver Swan South, Red Gate, and Middle Creek projects in Western Australia. It also has a 100% interest in the Bull Run project in Baker County, eastern Oregon. The company was incorporated in 2014 and is based in West Perth, Australia. Codrus Minerals Limited is a subsidiary of Blackstone Minerals Limited.

How the Company Makes Money

Codrus Minerals Ltd makes money primarily through the exploration and potential development of mineral resources. The company's revenue model is based on discovering valuable mineral deposits, which can lead to increased asset value and potential future revenue from mining operations or asset sales. Key revenue streams include raising capital through equity financing to fund exploration activities, forming joint ventures or partnerships with larger mining companies, and eventually, the sale or development of mineral assets once economically viable resources are identified. The company may also benefit from any government grants or incentives for exploration activities. However, as an exploration company, Codrus Minerals may not generate significant revenue until successful discoveries are made and developed.

Codrus Minerals Ltd Financial Statement Overview

Summary

Income statement and cash flow are very weak: the company is loss-making with negative EBIT/net income and persistent negative operating/free cash flow. A key positive is low leverage (zero debt in FY2025), but equity has eroded materially over time, indicating ongoing funding/execution risk despite some narrowing of losses in FY2025.

Income Statement

The company remains in a loss-making phase with negative EBIT and net income across all recent years (FY2021–FY2025). Revenue is minimal and inconsistent (A$300k in FY2024, falling back to zero in FY2025 with -100% revenue growth), indicating no sustained operating scale yet. Losses have narrowed versus FY2024 (net loss improved from about -A$3.16m to about -A$1.81m in FY2025), but profitability is still structurally weak and highly dependent on future execution rather than current operations.

Balance Sheet

Leverage is low, with zero debt in FY2025 and modest debt in FY2024 (debt-to-equity ~0.06), which reduces financial risk. However, equity has trended down meaningfully from FY2021 to FY2025 (from ~A$7.25m to ~A$1.39m), reflecting ongoing losses and cash burn. Returns on equity are deeply negative in recent years (roughly -1.3 to -1.6), signaling that shareholder capital is not currently generating profits.

Cash Flow

Cash generation is weak, with operating cash flow and free cash flow negative each year from FY2021–FY2025 (FY2025 operating/free cash flow around -A$1.41m). Cash burn has improved versus FY2024 (operating cash outflow reduced from ~-A$1.83m to ~-A$1.41m), but free cash flow growth is negative in FY2025 (about -11.8%), showing volatility rather than a steady improvement trend. Overall, the business is still reliant on funding rather than internally generated cash.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	300.00K	0.00	0.00	0.00
Gross Profit	0.00	-2.70K	300.00K	-14.44K	-5.88K	0.00
EBITDA	-1.78M	-1.78M	-3.10M	-2.68M	-4.09M	-1.14M
Net Income	-1.81M	-1.81M	-3.16M	-2.70M	-4.10M	-6.44M
Balance Sheet
Total Assets	1.93M	1.93M	2.37M	1.98M	4.21M	7.53M
Cash, Cash Equivalents and Short-Term Investments	1.83M	1.83M	2.15M	1.83M	4.06M	7.44M
Total Debt	0.00	0.00	120.93K	0.00	0.00	0.00
Total Liabilities	543.91K	543.91K	385.20K	272.14K	301.60K	278.03K
Stockholders Equity	1.39M	1.39M	1.98M	1.71M	3.91M	7.25M
Cash Flow
Free Cash Flow	-1.41M	-1.41M	-1.83M	-2.22M	-3.40M	-9.28K
Operating Cash Flow	-1.41M	-1.41M	-1.83M	-2.19M	-3.36M	-9.28K
Investing Cash Flow	13.00K	13.00K	300.00K	-117.77K	-40.26K	0.00
Financing Cash Flow	1.15M	1.15M	1.84M	15.77K	21.46K	7.45M

Codrus Minerals Ltd Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.02
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CDR, the sentiment is Positive. The current price of 0.02 is below the 20-day moving average (MA) of 0.02, below the 50-day MA of 0.02, and below the 200-day MA of 0.03, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 97.66 is Negative, neither overbought nor oversold. The STOCH value of 136.67 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:CDR.

Codrus Minerals 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%
RAS	51 Neutral	AU$8.02M	-3.05	-127.51%	―	168.85%	13.51%
SFM	49 Neutral	AU$34.41M	-27.03	-51.49%	―	―	5.93%
DAF	48 Neutral	AU$4.68M	-15.38	-66.08%	―	―	80.88%
CDR	44 Neutral	―	-2.71	-107.51%	―	―	59.93%
WSR	43 Neutral	AU$2.98M	-3.03	-37.62%	―	―	76.76%
GNM	41 Neutral	AU$22.79M	-11.75	-32.31%	―	―	69.23%

Codrus Minerals Ltd Corporate Events

Codrus Minerals Denies Undisclosed Information Behind Share Price and Volume Move

Codrus Minerals Limited has responded to an ASX price and volume query, stating it is not aware of any undisclosed information that could explain recent unusual trading in its shares and that it has no alternative explanation for the trading activity. The company reaffirmed its compliance with ASX Listing Rule 3.1 on continuous disclosure and confirmed that its response to the query was authorised in line with its governance framework, aiming to reassure investors and the market about its adherence to regulatory requirements.

The most recent analyst rating on (AU:CDR) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Codrus Minerals Ltd stock, see the AU:CDR Stock Forecast page.

Codrus Minerals Reshapes Corporate Leadership and Moves to New West Perth Office

Codrus Minerals has overhauled key corporate roles, appointing experienced corporate lawyer and company secretary Maddison Cramer as Company Secretary and chartered accountant Jack Dowland as Chief Financial Officer, following the resignation of former Company Secretary Jamie Byrde, who will remain on the board as a Non-Executive Director. The company also updated its registered office and principal place of business to new premises in West Perth, signaling a refreshed corporate and administrative set-up that may enhance its governance, ASX compliance interface and financial management as it continues to operate in the mining and resources space.

The most recent analyst rating on (AU:CDR) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Codrus Minerals Ltd stock, see the AU:CDR Stock Forecast page.

Codrus Minerals Sells Middle Creek Project to Moho Resources

Codrus Minerals Limited, a company involved in mining and exploration, has entered into a Binding Heads of Agreement with Moho Resources Limited regarding its Middle Creek Project. This agreement involves the surrender and sale of prospecting licenses held by Codrus, which were nearing expiration, in exchange for 15,000,000 fully paid ordinary shares in Moho Resources. This strategic move could impact Codrus’s operational focus and market positioning by potentially shifting resources or focus to other projects, while also providing Moho Resources with expanded exploration opportunities.

Codrus Minerals Secures Shareholder Approval at AGM

Codrus Minerals Limited announced that all resolutions presented at their Annual General Meeting on November 20, 2025, were successfully passed by a poll. This outcome reflects shareholder support for the company’s current strategies, including the adoption of the remuneration report, re-election of director Greg Bandy, and approval of a 10% placement capacity, which could enhance the company’s financial flexibility.

Codrus Minerals Advances Exploration with Promising Drilling Results

Codrus Minerals Ltd has completed its inaugural drilling campaign at the Bull Run Gold Project in Oregon, targeting five priority gold zones. Initial results from three diamond core holes show promising gold mineralization, reinforcing the project’s potential. The company is also advancing its Jasper Wedge project in Canada and reviewing strategic options for its Middle Creek and Red Gate projects in Australia. These developments underscore Codrus’s commitment to expanding its exploration portfolio and enhancing its industry positioning.

Codrus Minerals Ltd Announces 2025 Annual General Meeting Details

Codrus Minerals Ltd has announced its Annual General Meeting (AGM) for shareholders, scheduled for 20 November 2025 in West Perth, WA. Shareholders are encouraged to participate either in person or by proxy, with voting instructions to be submitted by 18 November 2025. The meeting materials are available electronically, reflecting the company’s commitment to efficient and sustainable communication practices. This AGM is crucial for stakeholders as it will address key business matters affecting shareholding and company operations.

Codrus Minerals Completes Promising Drilling at Bull Run Gold Project

Codrus Minerals Ltd has completed diamond drilling at the Bull Run Gold Project in Oregon, USA, testing two of five high-priority gold targets. The drilling encountered promising alteration zones indicative of gold mineralization, with assays confirming the presence of gold at various depths. The results are consistent with historical data, reinforcing the project’s potential. The company plans to review these findings to guide future exploration efforts, particularly targeting untested geochemical and geophysical areas.