eMetals Limited (EMT) AI Stock Analysis

• Market Cap: AU$4.25M
• Dividend Yield: N/A
• Average Volume (3M): N/A
• Price to Earnings (P/E): ―
• Beta (1Y): 1.08
• Revenue Growth: N/A
• EPS Growth: 76.12%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 850,000,000
• 10 Day Avg. Volume: N/A
• 30 Day Avg. Volume: N/A
• PEG Ratio: 0.02
• Price to Book (P/B): 0.65
• Price to Sales (P/S): 25.57
• P/FCF Ratio: -2.53
• 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: 45 Neutral
• Price Target: AU$0.01 ▲(150.00% Upside)

The score is driven primarily by weak financial performance—minimal revenue, persistent operating losses, and ongoing negative free cash flow—partially offset by a debt-free balance sheet. Technical and valuation factors are neutral because key indicators (moving averages/RSI/MACD and P/E/dividend yield) were not provided.

Positive Factors

Debt-Free Balance Sheet

A debt-free balance sheet reduces financial risk and provides flexibility for future investments or downturns, supporting long-term stability.

Exploration Progress

Advancements in exploration projects can lead to new discoveries, enhancing the company's resource base and potential revenue streams.

Strengthened Financial Position

Increased cash reserves improve financial flexibility, allowing the company to fund operations and exploration without immediate external financing.

Negative Factors

Negative Cash Flow

Consistent negative cash flow indicates the company is consuming cash, which may lead to funding challenges and limit growth potential.

Minimal Revenue

Lack of revenue generation limits the company's ability to scale operations and achieve profitability, posing a risk to long-term sustainability.

Declining Equity and Assets

A declining capital base can weaken financial stability and reduce the company's ability to invest in growth opportunities or withstand economic shocks.

eMetals Limited Business Overview & Revenue Model

Company Description

eMetals Limited engages in the mineral exploration activities in Australia. It explores for tungsten, molybdenum, gold, nickel, copper and platinum group elements, and base metals. The company holds interests in the Salmon Gums, Nardoo rare metals, Twin Hills gold, and Poona nickel and copper projects located in Western Australia. The company was formerly known as Corizon Limited and changed its name to eMetals Limited in January 2020. eMetals Limited was incorporated in 2010 and is based in Subiaco, Australia.

How the Company Makes Money

eMetals Limited generates revenue primarily through the exploration and development of mineral resources. The company's key revenue streams include selling extracted metals and minerals from its exploration projects, which may involve partnerships or joint ventures with other mining companies or stakeholders. Revenue can also be generated through licensing, leasing, or selling exploration rights for certain areas. These activities are complemented by strategic investments and collaborations with industry partners to enhance project development and operational efficiency. Additionally, market fluctuations in metal prices can significantly impact the company's revenue, as higher commodity prices can lead to increased profitability from its mining operations.

eMetals Limited Financial Statement Overview

Summary

Overall fundamentals are weak: revenue is effectively zero across 2022–2024, EBIT is negative throughout, and profitability swings from a 2023 profit to a large 2024 loss. Cash flow is consistently negative (operating and free cash flow), indicating ongoing cash burn. The key support is a debt-free balance sheet, but equity/assets declined materially in 2024, increasing longer-term funding pressure.

Income Statement

The income statement is weak and inconsistent. Revenue is effectively zero in most years (2022–2024), limiting visibility into operating scale and margin quality. Profitability is volatile: 2023 shows a positive net income, but this reverses sharply to a large loss in 2024, while EBIT is negative across the period—suggesting ongoing operating losses despite occasional bottom-line gains. Overall, earnings power appears low and unstable.

Balance Sheet

The balance sheet is a relative strength due to zero reported debt, which reduces financial risk. However, equity and assets declined meaningfully from 2023 to 2024 (equity roughly halved), and returns to shareholders deteriorated to deeply negative levels in 2024. In short: low leverage, but weakening capital base and poor profitability pressure the balance sheet over time.

Cash Flow

Cash generation is weak. Operating cash flow and free cash flow are negative across the years shown, indicating the business is consuming cash rather than producing it. Free cash flow improved in 2024 versus 2023, but it remains negative, and cash flow does not appear supported by sustainable operating earnings. Continued negative cash flow raises funding risk over time, especially without meaningful revenue.

Breakdown	TTM	Dec 2025	Dec 2025	Dec 2024	Dec 2023	Dec 2022
Income Statement
Total Revenue	0.00	―	98.56K	0.00	0.00	0.00
Gross Profit	0.00	―	98.56K	0.00	0.00	0.00
EBITDA	-624.50K	―	-525.94K	-561.00K	101.16K	-1.27M
Net Income	-1.34M	―	-1.34M	-5.71M	3.77M	-1.93M
Balance Sheet
Total Assets	3.97M	―	3.97M	5.27M	10.98M	7.08M
Cash, Cash Equivalents and Short-Term Investments	3.49M	―	2.77M	4.57M	9.69M	4.80M
Total Debt	0.00	―	0.00	0.00	0.00	0.00
Total Liabilities	87.05K	―	87.05K	43.34K	90.22K	34.29K
Stockholders Equity	3.89M	―	3.89M	5.23M	10.89M	10.89M
Cash Flow
Free Cash Flow	-657.82K	―	-993.97K	-539.85K	-835.53K	-835.53K
Operating Cash Flow	-210.38K	―	-519.64K	-487.73K	-572.43K	-572.43K
Investing Cash Flow	-312.44K	―	-339.33K	-52.13K	221.07K	221.07K
Financing Cash Flow	0.00	―	0.00	0.00	0.00	4.72M

eMetals Limited 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%
CPM	53 Neutral	AU$5.25M	-7.92	-5.47%	―	14.85%	65.47%
BOA	49 Neutral	AU$4.64M	-2.36	-27.31%	―	―	-121.54%
ADC	48 Neutral	AU$3.97M	―	―	―	―	―
EMT	45 Neutral	AU$4.25M	―	-29.48%	―	―	76.12%
CUL	44 Neutral	AU$6.24M	-7.14	-19.53%	―	―	30.00%
KOR	40 Underperform	AU$2.94M	―	―	―	―	―

eMetals Limited Corporate Events

eMetals Advances Exploration at Busia Gold Project, Strengthens Financial Position

eMetals Limited has reported significant progress in its Busia Gold Project in Uganda, with regulatory submissions made to facilitate further exploration activities. A notable gold-in-soil anomaly has been identified, prompting a second phase of soil sampling to define its full extent. The project is situated in a highly prospective region known for hosting large gold deposits, offering substantial potential for a maiden gold discovery. The company’s recent sale of its Minerals 260 Limited shares has bolstered its cash reserves to approximately $3.6 million, strengthening its financial position for ongoing and future operations.

eMetals Limited Advances Exploration at Busia Gold Project

eMetals Limited has commenced the second phase of soil sampling at its Busia Gold Project in Uganda, following the identification of a significant gold-in-soil anomaly during the initial phase. This phase aims to fully define the extent of the anomaly, which is associated with a banded ironstone formation. The project is set within a highly prospective region, and the company aims to generate drill targets for further exploration, potentially enhancing its position in the gold exploration sector.

eMetals Limited Announces Upcoming Annual General Meeting

eMetals Limited has announced its Annual General Meeting (AGM) for shareholders, scheduled for November 24, 2025, in Subiaco, Western Australia. Shareholders are encouraged to participate in the meeting either in person or by proxy, with options for electronic voting and communication. This meeting is a key event for stakeholders to engage with the company’s management and discuss future directions, reflecting eMetals’ commitment to transparency and shareholder engagement.

eMetals Limited Announces Key Resolutions for Upcoming AGM

eMetals Limited has announced its Annual General Meeting, which will take place on November 24, 2025. The agenda includes reviewing the company’s financial statements, considering the adoption of the remuneration report, re-electing Mr. Gary Lyons as a director, and approving a mandate to issue up to 10% of the company’s equity securities. These resolutions are significant as they involve key governance and financial decisions that could impact the company’s strategic direction and shareholder value.