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Caprice Resources Ltd. (AU:CRS)
ASX:CRS

Caprice Resources Ltd. (CRS) AI Stock Analysis

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AU:CRS

Caprice Resources Ltd.

(Sydney:CRS)

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Neutral 44 (OpenAI - 5.2)
Rating:44Neutral
Price Target:
AU$0.08
â–Ľ(-10.00% Downside)
Action:ReiteratedDate:03/10/26
The score is mainly held down by weak financial performance—minimal revenue, expanding losses, and persistent cash burn—despite a low-debt balance sheet. Technicals also detract as price is below key moving averages with negative MACD, while valuation remains unsupported due to negative earnings and no indicated dividend yield.
Positive Factors
Low debt / strong solvency
A near-zero debt profile materially reduces interest expense and bankruptcy risk, giving management durable financial flexibility. Over the next 2–6 months this lowers solvency pressure, eases covenant risk, and preserves capacity to raise equity or deploy cash to operations or projects without servicing debt.
Growing equity base
A materially larger equity base supports asset growth and provides a cushion against losses. This structural capital build reduces near-term refinancing needs, enables funding of exploration or development activities, and improves balance-sheet resilience versus peers with limited equity resources.
Non-cash loss component
When reported losses include significant non-cash items, actual cash depletion can be less severe than accounting losses imply. That dynamic gives management more runway to execute turnaround or project milestones before urgent external financing is required, preserving optionality over months.
Negative Factors
Negligible revenue
A business lacking meaningful revenue has no immediate operating income to fund costs or validate product-market fit. Structurally, this undermines path to sustainable margins and requires either rapid commercial traction or ongoing external capital to cover operations, a lasting risk over the medium term.
Worsening net losses
Expanding losses erode shareholder equity and increase future funding needs. Persistently widening negative earnings signal failure to scale or control costs, making it harder to achieve profitability without substantive business changes or capital injections, a durable headwind for the company.
Consistent cash burn
Continual negative operating cash flow forces dependence on external financing and limits reinvestment capacity. This structural cash burn raises dilution or refinancing risk, constrains strategic choices, and leaves operations vulnerable to tighter capital markets or funding delays over the coming months.

Caprice Resources Ltd. (CRS) vs. iShares MSCI Australia ETF (EWA)

Caprice Resources Ltd. Business Overview & Revenue Model

Company DescriptionCaprice Resources Limited engages in the acquisition, exploration, and development of mineral resource projects in Australia. The company explores for gold, lead, zinc, and copper deposits. It holds 100% interest in Northampton project located in Western Australia; and 100% interest in the Wild Horse Hill project located in Pine Creek province of Northern Territory. The company also holds an 80% interest in the Cuddingwarra and Big Bell South Projects located in Western Australia; a 100% interest in the Yungaro Project located in Western Australia; and a 100% interest in the Island Gold Project located in Lake Austin. The company was incorporated in 2018 and is based in West Perth, Australia.
How the Company Makes Moneynull

Caprice Resources Ltd. Financial Statement Overview

Summary
Overall financial quality is weak due to effectively nonexistent revenue, persistent and worsening losses, and ongoing negative operating/free cash flow (cash burn). The main offset is a relatively clean balance sheet with essentially no debt and a growing equity base, which reduces near-term solvency risk but does not fix the lack of operating traction.
Income Statement
12
Very Negative
The income statement is very weak: revenue is effectively nonexistent in most years (0 in 2022–2025, and only immaterial revenue in 2020–2021 and 2023). Losses are persistent and expanding recently, with net income deteriorating from -1.55M (2024) to -3.36M (2025). With minimal revenue, margins are not meaningful and the business has not shown a sustained path to operating profitability.
Balance Sheet
62
Positive
The balance sheet is a relative strength. The company carries essentially no debt (debt-to-equity ~0 in most periods), reducing financial risk and interest burden. Equity has increased materially over time (from ~4.0M in 2020 to ~25.4M in 2025), supporting asset growth. The key weakness is ongoing value erosion through negative returns on equity (roughly -9% to -18% historically, about -13% in 2025), reflecting continued losses despite a larger capital base.
Cash Flow
20
Very Negative
Cash flow quality is weak. Operating cash flow is consistently negative every year (about -0.35M to -1.05M), indicating the core business is consuming cash rather than generating it. Free cash flow is also persistently negative (about -0.61M to -3.19M) and worsened in 2025 versus 2024. While free cash flow is numerically higher than net income in several years (because losses are largely non-cash), the company still requires external funding to sustain operations and investment.
BreakdownTTMJun 2025Jun 2024Jun 2023Jun 2022Jun 2021
Income Statement
Total Revenue0.000.000.003.71K0.0010.53K
Gross Profit-2.12K-2.78K-32.55K-35.73K-39.29K9.13K
EBITDA-1.66M-3.36M-1.51M-1.18M-1.32M-2.08M
Net Income-2.54M-3.36M-1.55M-1.23M-1.37M-2.08M
Balance Sheet
Total Assets26.02M25.78M17.80M14.59M13.62M11.88M
Cash, Cash Equivalents and Short-Term Investments4.76M7.78M885.58K685.77K1.96M3.32M
Total Debt0.000.000.0038.90K74.74K0.00
Total Liabilities810.85K375.09K1.44M280.68K341.75K89.82K
Stockholders Equity25.21M25.41M16.36M14.31M13.28M11.79M
Cash Flow
Free Cash Flow-1.84M-2.26M-2.57M-2.49M-3.19M-2.58M
Operating Cash Flow-1.17M-1.05M-692.14K-919.65K-924.38K-936.47K
Investing Cash Flow-6.39M-3.81M-1.84M-1.57M-2.26M-1.68M
Financing Cash Flow10.60M11.75M2.73M1.22M1.83M2.68M

Caprice Resources Ltd. Technical Analysis

Technical Analysis Sentiment
Negative
Last Price0.09
Price Trends
50DMA
0.10
Negative
100DMA
0.11
Negative
200DMA
0.10
Negative
Market Momentum
MACD
>-0.01
Positive
RSI
37.82
Neutral
STOCH
6.86
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CRS, the sentiment is Negative. The current price of 0.09 is below the 20-day moving average (MA) of 0.09, below the 50-day MA of 0.10, and below the 200-day MA of 0.10, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 37.82 is Neutral, neither overbought nor oversold. The STOCH value of 6.86 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:CRS.

Caprice Resources Ltd. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
52
Neutral
AU$130.17M-9.33-0.50%――12.50%
50
Neutral
AU$291.06M-16.15-29.71%―-71.00%9.44%
46
Neutral
AU$73.45M-2.79232.33%――-268.97%
44
Neutral
AU$58.54M-6.94-10.02%――-18.92%
44
Neutral
AU$95.15M-3.89-36.51%―-100.00%-477.06%
42
Neutral
AU$31.02M-15.92-6.83%――71.63%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:CRS
Caprice Resources Ltd.
0.08
0.03
53.70%
AU:EMC
Everest Metals Corporation Limited
0.12
-0.05
-28.13%
AU:BML
Boab Metals Ltd
0.51
0.36
248.28%
AU:GL1
Global Lithium Resources Ltd.
0.50
0.32
175.00%
AU:PHO
PhosCo Ltd
0.14
0.08
133.33%
AU:WR1
Winsome Resources Limited
0.39
0.11
36.84%

Caprice Resources Ltd. Corporate Events

Caprice Resources Files Interim Half-Year Consolidated Financial Report
Mar 13, 2026

Caprice Resources Ltd. has released its interim consolidated financial report for the half year ended 31 December 2025, detailing the group’s financial performance, cash flows, and changes in equity. The report includes a directors’ report, reviewed financial statements, and an independent auditor’s review, providing stakeholders with an overview of the company’s mid-year financial position and governance controls.

The disclosure of these interim results offers investors and regulators an updated snapshot of Caprice Resources’ financial health and capital structure ahead of its full-year reporting. By publishing a reviewed set of accounts, the company underscores its compliance with reporting standards and supports more informed assessment of its operational progress and risk profile in the current reporting period.

The most recent analyst rating on (AU:CRS) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on Caprice Resources Ltd. stock, see the AU:CRS Stock Forecast page.

Caprice Resources plans issue of 3 million new shares under Appendix 3B
Mar 8, 2026

Caprice Resources Ltd has lodged a new Appendix 3B with the ASX outlining a proposed issue of up to 3,000,000 ordinary fully paid shares. The placement or other type of issue is scheduled for 5 May 2026 and forms part of the company’s ongoing use of equity markets to support its capital and corporate requirements.

While the announcement provides only structural details of the planned share issue, it signals that Caprice is preparing to modestly expand its share base. This move may provide additional funding flexibility for the resources group, with potential implications for existing shareholders through dilution and for the company’s capacity to advance its exploration or development activities.

The most recent analyst rating on (AU:CRS) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on Caprice Resources Ltd. stock, see the AU:CRS Stock Forecast page.

Caprice Resources Plans Large Share Placement to Boost Capital Base
Mar 8, 2026

Caprice Resources Ltd. has lodged an Appendix 3B with the ASX outlining a proposed placement of up to 156,250,000 new fully paid ordinary shares. The securities are expected to be issued on 16 March 2026, indicating a significant capital raising that could strengthen the company’s balance sheet and support ongoing exploration or development activities.

The proposed share issue, structured as a placement or other type of security issue, underscores Caprice Resources’ reliance on equity markets to fund its growth plans. While specific use of proceeds is not detailed, the sizeable increase in issued capital may dilute existing holdings but could enhance the company’s capacity to pursue projects and maintain its position in the competitive resources industry.

The most recent analyst rating on (AU:CRS) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on Caprice Resources Ltd. stock, see the AU:CRS Stock Forecast page.

Caprice Resources Raises $12.74m to Fast-Track Murchison and West Arunta Exploration
Mar 8, 2026

Caprice Resources has raised $12.74 million via an oversubscribed share placement at $0.08 per share to institutional and sophisticated investors, boosting its cash position to about $15 million. Director participation of approximately $240,000 is subject to shareholder approval, with settlement of the main tranche expected in mid-March.

The proceeds will accelerate exploration at the Island, Comet and Cuddingwarra gold projects through expanded RC, aircore and diamond drilling, and fund geophysical surveys at the West Arunta Chobe Project to refine new drill targets. With multiple drilling campaigns underway and assays due over the coming weeks, the company is positioning for an intensive period of news flow and potential resource expansion in the Murchison gold district and West Arunta region.

The most recent analyst rating on (AU:CRS) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on Caprice Resources Ltd. stock, see the AU:CRS Stock Forecast page.

Caprice Resources Seeks Trading Halt Ahead of Capital Raising
Mar 5, 2026

Caprice Resources Ltd., an Australian resources company listed on the ASX as CRS, has requested a halt in trading of its securities as it prepares a market announcement. The halt is effective immediately from 6 March 2026 and will remain until either the start of normal trading on Tuesday, 10 March 2026, or the release of the pending announcement.

The company stated that the trading halt is tied to an upcoming capital raising and that it is not aware of any reason the halt should not be granted. The move signals that Caprice is seeking to strengthen its financial position, with the temporary suspension designed to ensure an orderly market while details of the capital raising are finalized and disclosed to investors.

The most recent analyst rating on (AU:CRS) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on Caprice Resources Ltd. stock, see the AU:CRS Stock Forecast page.

Caprice Defines New Gold Targets South of Vadrians at Island Project
Mar 3, 2026

Caprice Resources has reported initial air core drilling results from its Island Gold Project, where 161 holes were designed to test banded iron formation corridors around the existing Vadrians deposit. Results from the first 71 holes in the southern area have outlined four new early-stage gold targets—First Light, Evening Star, Eureka and Chicago—with coherent zones of anomalous gold mineralisation along strike.

The company views the shallow, low-grade anomalies as potential indicators of higher-grade gold at depth in fresh rock, and is planning deeper reverse circulation drilling to test these targets and the northern and deeper extensions of Vadrians. Additional air core drilling is also being prepared to assess further high-priority targets generated from gravity and magnetic surveys, positioning Caprice to potentially expand the scale and continuity of the Island Gold system pending further assay results.

The most recent analyst rating on (AU:CRS) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on Caprice Resources Ltd. stock, see the AU:CRS Stock Forecast page.

Caprice extends high-grade gold footprint at Island’s Vadrians deposit
Feb 10, 2026

Caprice Resources has reported new reverse circulation and diamond drilling results from its Island Gold Project, confirming extensions to high-grade gold mineralisation at the Vadrians deposit. The latest drilling has extended the main high-grade lode by more than 80 metres at the northern end and now defines the broader Vadrians system over 1,000 metres of strike and to at least 400 metres vertical depth.

The company also identified a new adjacent high-grade quartz reef in the Vadrians footwall, creating an additional growth target within the system. Phase 4 drilling is now complete, with further assay results from diamond and air core holes due in coming months, and follow-up reverse circulation drilling planned to test both northern strike and deeper extensions, underscoring ongoing resource growth potential at Island.

The most recent analyst rating on (AU:CRS) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Caprice Resources Ltd. stock, see the AU:CRS Stock Forecast page.

Caprice Resources Appoints New Exploration Manager to Drive Murchison Gold Growth
Feb 5, 2026

Caprice Resources has appointed experienced exploration geologist Duncan Franey as Exploration Manager, strengthening its technical leadership as it ramps up drilling and resource-definition work across its Murchison gold portfolio. Franey, who has over 15 years’ experience and a track record of resource growth at other ASX-listed gold producers, will lead efforts to extend mineralisation and drive new discoveries at the Island Gold and Comet Gold projects, supported by ongoing and planned diamond, air core and RC drilling programs and continued target generation at the Chobe Project in West Arunta.

The most recent analyst rating on (AU:CRS) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Caprice Resources Ltd. stock, see the AU:CRS Stock Forecast page.

Caprice Extends High-Grade Gold at Island Project and Triples Murchison Footprint
Jan 30, 2026

Caprice Resources reported a strong December quarter marked by significant progress at its Island Gold Project, where Phase 4 drilling delivered multiple high-grade gold intercepts, extended mineralisation to at least 400 metres depth and over 1,000 metres of strike at the Vadrians prospect, and confirmed grade continuity through both reverse circulation and diamond drilling. The company also executed a binding earn-in to acquire the Comet Gold Project along strike from Island Gold, effectively tripling its landholding to a contiguous 68km² in the Murchison Goldfields, commenced fieldwork at Comet, completed high-resolution aeromagnetic surveying at its Chobe Project in West Arunta to refine future drill targets, and closed the quarter with A$4.8 million in cash, positioning it for an active 2026 exploration programme.

The most recent analyst rating on (AU:CRS) stock is a Hold with a A$0.11 price target. To see the full list of analyst forecasts on Caprice Resources Ltd. stock, see the AU:CRS Stock Forecast page.

Caprice Extends High-Grade Gold at Island Project and Restarts Phase 4 Drilling
Jan 19, 2026

Caprice Resources has reported a new set of high-grade assay results from Phase 4 drilling at its Island Gold Project, confirming gold mineralisation at the Vadrians prospect to at least 400 metres vertical depth and over 1,000 metres of strike, and identifying a new high-grade quartz reef in the footwall. The company has restarted drilling to complete the remaining 1,000 metres of diamond and 6,000 metres of air core drilling in the 20,000-metre Phase 4 program, backed by a strong pipeline of pending assays, while also initiating field exploration at the Comet Project, positioning the company for an active quarter of results and potentially significant growth in its Murchison gold portfolio.

The most recent analyst rating on (AU:CRS) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Caprice Resources Ltd. stock, see the AU:CRS Stock Forecast page.

Caprice Resources Director Increases Shareholding Through Option Exercise
Dec 18, 2025

Caprice Resources Ltd has disclosed a change in director Rob Waugh’s indirect holdings, made through the Waugh Family Account. The director exercised 800,000 options at $0.0729 each, converting them into fully paid shares, which increased his shareholding to 1,696,924 shares and reduced his remaining options to 3,700,000; the transaction was conducted outside a closed period and is part of routine equity-based alignment of director and shareholder interests.

Caprice Resources Issues Over 10 Million New Shares, Confirms Regulatory Compliance
Dec 18, 2025

Caprice Resources Limited has issued 10,138,859 new ordinary shares, as reflected in Appendix 2A filings lodged with the ASX, expanding its share capital base. The company states that the shares were issued without a prospectus under the Corporations Act’s disclosure exemptions, while confirming it remains compliant with all relevant financial reporting and continuous disclosure obligations and that there is no undisclosed price-sensitive information, which is intended to provide assurance to investors about transparency and regulatory conformity around the capital issuance.

Caprice Resources Seeks Quotation for 8.6 Million New Shares on ASX
Dec 18, 2025

Caprice Resources Ltd, listed on the ASX under the code CRS, has applied for quotation of an additional 8,633,334 ordinary fully paid shares, following the exercise or conversion of existing options or other convertible securities. The new securities, issued on 18 December 2025, will expand the company’s quoted share capital, potentially enhancing liquidity for investors and reflecting ongoing capital management activities, though the announcement provides no further detail on use of funds or strategic implications.

Caprice Resources Ltd. Announces Quotation of New Securities on ASX
Dec 18, 2025

Caprice Resources Ltd. has announced the application for the quotation of new fully paid ordinary securities on the Australian Securities Exchange (ASX). This move involves the issuance of 1,505,525 new securities, which were issued on December 17, 2025, as part of previously disclosed transactions. The development highlights the company’s ongoing initiatives related to capital structure and growth, potentially impacting its market positioning and providing investors with additional opportunities in its equity offerings.

Caprice Resources Expands Island Gold Project with Strategic Acquisition
Dec 18, 2025

Caprice Resources Ltd has completed the acquisition of the Comet Exploration Project, significantly expanding its Island Gold Project footprint within the Murchison Goldfields by tripling its landholdings. The addition of high-potential exploration tenements positions Caprice near established mines and processing infrastructure, enhancing its exploration prospects and immediate discovery potential for stakeholders.

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.Date of analysis: Mar 10, 2026