Estrella Resources Limited (AU:ESR)
ASX:ESR
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Estrella Resources Limited
(Sydney:ESR)
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Rating:45Neutral
Price Target:
AU$0.03
▲(3.33% Upside)
Action:ReiteratedDate:03/18/26
The score is held down primarily by weak financial performance—negligible recent revenue, persistent losses, and ongoing cash burn—partly offset by a low-leverage balance sheet. Technical indicators lean bearish (negative MACD and below key moving averages), while valuation is constrained by loss-making status and no dividend support.
Positive Factors
Low leverage
Near-zero debt gives the company durable financial flexibility: it can fund operations or capital needs without high interest burdens, lower bankruptcy risk, and greater optionality to raise capital or pursue projects during cyclical industry swings over the next several months.
Negative Factors
Negligible revenue
Absence of meaningful revenue undermines the business model's viability: recurring costs are unsupported, forecasting cash generation is highly uncertain, and any recovery depends on re-establishing sustainable sales — a multi-month to multi-quarter structural challenge.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage
Near-zero debt gives the company durable financial flexibility: it can fund operations or capital needs without high interest burdens, lower bankruptcy risk, and greater optionality to raise capital or pursue projects during cyclical industry swings over the next several months.
Read all positive factors
Estrella Resources Limited (ESR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$68.53M
Dividend YieldN/A
Average Volume (3M)4.26M
Price to Earnings (P/E)―
Beta (1Y)1.43
Revenue GrowthN/A
EPS Growth35.29%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.01
Shares Outstanding2,210,536,900
10 Day Avg. Volume3,330,468
30 Day Avg. Volume4,257,582
Financial Highlights & Ratios
PEG Ratio1.24
Price to Book (P/B)4.14
Price to Sales (P/S)0.00
P/FCF Ratio-75.20
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
Estrella Resources Limited Business Overview & Revenue Model
Company Description
Estrella Resources Limited, together with its subsidiaries, explores for and develops nickel projects in Western Australia. It holds 100% interests in the Carr Boyd nickel project that includes three mining leases and six exploration licenses loca...
How the Company Makes Money
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Estrella Resources Limited Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
64
Positive
Cash Flow
18
Very Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 405.52K | 2.29K | 1.38M |
| Gross Profit | -117.22K | -112.43K | -141.00K | 405.52K | 2.29K | 19.62K |
| EBITDA | -2.59M | -1.96M | -2.77M | -1.38M | -2.13M | -428.00K |
| Net Income | -23.25M | -2.08M | -2.99M | -1.60M | -2.28M | -543.00K |
Balance Sheet | ||||||
| Total Assets | 8.25M | 29.90M | 21.11M | 23.33M | 21.14M | 15.42M |
| Cash, Cash Equivalents and Short-Term Investments | 893.37K | 6.56M | 359.61K | 1.08M | 776.39K | 3.61M |
| Total Debt | 0.00 | 0.00 | 0.00 | 1.04M | 0.00 | 275.33K |
| Total Liabilities | 680.72K | 5.74M | 390.24K | 1.30M | 1.46M | 1.40M |
| Stockholders Equity | 7.57M | 24.16M | 20.72M | 22.03M | 19.67M | 14.02M |
Cash Flow | ||||||
| Free Cash Flow | -1.32M | -1.33M | -1.44M | -5.20M | -9.62M | -8.03M |
| Operating Cash Flow | -1.15M | -1.27M | -1.15M | -1.13M | -1.26M | -824.41K |
| Investing Cash Flow | -7.00M | -2.33M | -287.09K | -3.04M | -8.12M | -5.40M |
| Financing Cash Flow | 8.64M | 10.02M | 586.22K | 4.50M | 6.55M | 9.74M |
Estrella Resources Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
50 Neutral | AU$403.31M | 0.05 | 154.06% | ― | ― | 66.10% | |
50 Neutral | AU$503.42M | -3.13 | -50.73% | ― | ― | 22.73% | |
49 Neutral | AU$90.15M | -127.74 | -0.41% | ― | ― | -100.00% | |
46 Neutral | AU$132.20M | -23.96 | -23.79% | ― | ― | -280.00% | |
45 Neutral | AU$68.53M | -0.77 | -146.58% | ― | ― | 35.29% | |
45 Neutral | AU$122.70M | -4.63 | 18.38% | ― | 64.66% | ― |
* Basic Materials Sector Average
AU:ESR
Estrella Resources Limited
0.03
<0.01
24.00%
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Estrella Resources Limited Corporate Events
Estrella Resources Plans Issue of 80 Million Unlisted Options
Mar 31, 2026
Estrella Resources has notified the ASX of a proposed issue of up to 80 million unlisted options, exercisable at $0.045 and expiring three years from their date of issue. The new options are part of a placement or other capital-raising structure, ...
Estrella Secures $8m Underwriting Deal for Listed Options
Mar 31, 2026
Estrella Resources Limited has executed an underwriting agreement with Million Link (China) Investment Ltd to underwrite 445,000,000 of its listed options, equivalent to $8.01 million before costs. The options, exercisable at $0.018 and expiring o...
Estrella Resources Seeks Trading Halt Ahead of Options Underwriting News
Mar 29, 2026
Estrella Resources Limited has requested a trading halt in its securities on the ASX, as the company prepares an announcement regarding the partial underwriting of its listed options (ASX: ESROB). Trading in Estrella’s securities will remain...
Estrella Resources Issues 10 Million Unquoted Zero-Exercise Options Under Incentive Plan
Mar 19, 2026
Estrella Resources Limited has issued 10,000,000 new zero-exercise price options under its employee incentive scheme, with the options expiring on 4 January 2031 and remaining unquoted on the ASX while subject to transfer restrictions. The move re...
Estrella Resources Issues New Shares and Confirms Regulatory Compliance
Mar 18, 2026
Estrella Resources has issued 277,777 fully paid ordinary shares on 18 March 2026, expanding its share capital base without providing a disclosure document. The company has confirmed it remains compliant with key provisions of the Corporations Act...
Estrella Resources Seeks ASX Quotation for 277,777 New Shares
Mar 18, 2026
Estrella Resources Limited has applied for quotation on the ASX of 277,777 new fully paid ordinary shares, to be issued on 18 March 2026. The move modestly increases the company’s quoted capital base and may support liquidity in its stock, t...
Estrella Resources issues half-year financial report for December 2025
Mar 16, 2026
Estrella Resources Limited and its controlled entities have released their half-year financial report for the period ended 31 December 2025. The report package includes the directors’ report, audited consolidated financial statements, notes,...
Estrella Sets Mediation Date in Mt Edwards Lithium Royalty Dispute
Mar 13, 2026
Estrella Resources has provided an update on its ongoing Supreme Court proceedings in Western Australia over a claimed lithium royalty from ore mined at Mt Edwards. The dispute involves WIN Metals, Auric Mining, Neometals and their subsidiaries, w...
Estrella Resources Issues New Shares and Reaffirms Compliance Obligations
Mar 3, 2026
Estrella Resources Limited has issued 4,617,611 fully paid ordinary shares on 3 March 2026, expanding its share capital on the ASX. The company confirmed the issuance was conducted without a prospectus under the Corporations Act and reaffirmed com...
Estrella Resources Seeks ASX Quotation for 4.6 Million New Shares
Mar 3, 2026
Estrella Resources Limited has applied for quotation on the ASX of 4,617,611 new ordinary fully paid shares under the code ESR, with an issue date of 3 March 2026. The securities arise from the exercise or conversion of existing options or other c...
Estrella Advances Ira Miri Manganese Project With Major Market Sample Extraction
Feb 26, 2026
Estrella Resources has extracted about 22,600 tonnes of high-grade manganese ore from its Ira Miri Project in Timor-Leste as part of a permitted 30,000-tonne market sample program. The ore will be sold and shipped to selected potential offtake par...
Estrella’s Werumata Assays Support Ambition for 500Mt Low-Impurity Limestone Resource
Feb 10, 2026
Estrella Resources has reported initial assay results from its maiden drilling campaign at the Werumata limestone project in Timor-Leste, covering about a quarter of samples collected in 2025. Drilling across two large limestone plateaus has inter...
Estrella Intersects Manganese Horizon as Ira Miri Project Ramps Up in Timor-Leste
Feb 6, 2026
Estrella Resources has intersected the targeted manganese horizon and identified additional manganese-bearing mineralisation at its Ira Miri project in Timor-Leste, confirming its geological model and supporting confidence in project development. ...
Estrella Resources Secures $2m Underwriting Deal for Listed Options
Feb 2, 2026
Estrella Resources has entered into an underwriting agreement with Lightview Asset Pty Ltd to partially underwrite the exercise of its existing listed options (ASX: ESROB), which are exercisable at $0.018 and expire on 13 December 2026. Under the ...
Estrella Resources Posts High-Grade Manganese Results and Advances Limestone Drilling in Timor-Leste
Jan 30, 2026
Estrella Resources reported a strong December 2025 quarter, highlighted by exceptional high-grade manganese drilling results at its Ira Miri project in Timor-Leste, with multiple intervals exceeding 50% manganese and very low impurities, indicatin...
Estrella Resources Requests Trading Halt Ahead of Options Underwriting Announcement
Jan 29, 2026
Estrella Resources Limited has requested a trading halt on its securities on the ASX pending the release of an announcement concerning the partial underwriting of its listed options (ASX: ESROB). The halt, which is expected to last until no later ...
Estrella Begins Bulk Manganese Extraction at Ira Miri in Timor‑Leste
Jan 21, 2026
Estrella Resources has begun extracting up to 30,000 tonnes of high‑grade manganese ore from its Ira Miri project in Timor‑Leste as a bulk market sample, marking one of the country’s first significant economic mineral extractions...
Estrella Resources Issues 250,000 New Shares Under Section 708A
Jan 13, 2026
Estrella Resources Limited has issued 250,000 new fully paid ordinary shares on 13 January 2026, expanding its share capital base. The company states that the shares were issued without a prospectus under the relevant Corporations Act provisions a...
Estrella Resources Seeks ASX Quotation for 250,000 New Shares
Jan 13, 2026
Estrella Resources Limited has applied to the ASX for quotation of 250,000 new ordinary fully paid shares. The securities, issued on 13 January 2026 following the exercise or conversion of existing options or other convertible instruments, will mo...
Estrella Wins Approval for First Bulk Manganese Extraction in Timor-Leste
Jan 7, 2026
Estrella Resources has secured regulatory approval from Timor-Leste’s Autoridade Nacional dos Minerais to extract up to 30,000 tonnes of high-grade manganese oxide from its Ira Miri Manganese Project as a bulk market sample. The program, whi...
Estrella Resources Plans Issue of 10 Million Long-Dated Options
Jan 4, 2026
Estrella Resources Limited has outlined plans to issue up to 10 million new zero exercise price options, expiring on 4 January 2031, as part of a placement or other type of security issue on the ASX, with the proposed issue date set for 14 January...
Estrella Reshapes Leadership to Drive Timor-Leste Limestone and Manganese Push
Jan 4, 2026
Estrella Resources has overhauled its senior leadership to support the development of its emerging limestone and manganese projects in Timor-Leste, appointing experienced mining executive Robert Mencel as Chief Executive Officer with a planned tra...
Glossary
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