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): 2.47
• 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: 46 Neutral
• Price Target: AU$0.03 ▲(25.00% Upside)

The score is primarily held back by weak financial performance (ongoing losses, minimal revenue, and continued cash burn despite low debt). Technicals are supportive due to strong momentum and price above moving averages, but extreme overbought signals increase near-term pullback risk. Valuation remains constrained by loss-driven negative earnings and no dividend support.

Positive Factors

Low Leverage

Zero reported debt in FY2025 materially reduces financial distress risk and preserves balance sheet flexibility. For a resource explorer, low leverage supports the ability to raise project funding from equity or JV partners without near-term debt servicing pressure, a durable structural strength.

Narrowing Losses

A sizeable year-over-year reduction in net loss indicates improved operating control or lower cash burn. Sustained narrowing of losses over several quarters would signal operational progress toward breakeven and make future capital raising less dilutive, a meaningful improvement in long-term fundamentals.

Reduced Operating Cash Outflow

Lower operating cash outflow shows improved cash efficiency and cost management. Persistently reducing OCF deficits extends runway and lessens near-term external funding dependence, strengthening the firm's ability to execute exploration or development plans across the next several quarters.

Negative Factors

No Meaningful Revenue

Absence of consistent revenue means the business lacks commercial cash generation and must rely on capital markets or partners. Over months this undermines self-sustainability, makes investment returns speculative, and places emphasis on successful exploration or asset sales to create durable revenues.

Persistent Negative Cash Generation

Multi-year negative OCF and FCF indicate the company cannot fund operations internally. This structural cash deficit necessitates repeated financing, increasing dilution risk and constraining the ability to invest in scale or development, impairing long-term operational resilience.

Eroding Equity and Negative ROE

Material decline in shareholder equity and persistently negative returns on equity reflect capital erosion from ongoing losses. This weakens the firm’s capacity to raise non-dilutive capital, undermines investor confidence, and signals structural difficulty converting invested capital into positive returns.

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

Financials reflect an early-stage, loss-making profile: negative EBIT and net income across FY2021–FY2025, minimal/inconsistent revenue (FY2025 revenue at zero), and persistent negative operating/free cash flow. The main positive is low leverage (zero debt in FY2025), but equity has eroded materially over time, underscoring ongoing funding and execution risk.

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: Negative
• Last Price: 0.02
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CDR, 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 0.02, and below the 200-day MA of 0.03, indicating a bearish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 38.89 is Neutral, neither overbought nor oversold. The STOCH value of -125.00 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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$7.33M	-2.89	-127.51%	―	168.85%	13.51%
DAF	48 Neutral	AU$4.22M	-13.85	-66.08%	―	―	80.88%
CDR	46 Neutral	―	-2.34	-107.51%	―	―	59.93%
SFM	44 Neutral	AU$45.59M	-25.23	-51.49%	―	―	5.93%
WSR	43 Neutral	AU$3.97M	-1.18	-37.62%	―	―	76.76%
GNM	41 Neutral	AU$20.85M	-10.75	-32.31%	―	―	69.23%

Codrus Minerals Ltd Corporate Events

Codrus Confirms Gold Potential at Bull Run as It Refines Global Exploration Portfolio

Codrus Minerals has reported initial diamond drilling results from its Bull Run Gold Project in Oregon, where three holes tested two of five high-priority targets along the Lady May and Whited vein systems, delivering moderate gold intercepts and confirming the geometry, continuity and prospectivity of the hydrothermal vein system. The company is now reviewing gold observations from these holes to guide follow-up work, with future exploration expected to focus on adjacent untested geochemical and geophysical targets, while it continues to streamline and refocus its portfolio through the agreed sale of its Middle Creek Project in Western Australia to Moho Resources and advances target refinement at its Jasper Wedge Project in Canada, underscoring an ongoing strategy of value-accretive, exploration-led growth.

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 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.