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Fin Resources Limited (AU:FIN)
ASX:FIN
Australian Market

Fin Resources Limited (FIN) AI Stock Analysis

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AU:FIN

Fin Resources Limited

(Sydney:FIN)

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Neutral 42 (OpenAI - 5.2)
Rating:42Neutral
Price Target:
AU$0.01
▲(20.00% Upside)
The score is primarily constrained by weak financial performance (no revenue, ongoing losses, and persistent cash burn), despite some improvement in 2025 and modest leverage. Technicals add limited support due to an overbought RSI, and valuation remains unattractive/unclear given negative earnings and no dividend.
Positive Factors
Modest leverage and positive equity
A low debt-to-equity (~0.19) and positive equity position provide structural balance-sheet flexibility, helping the company absorb operating setbacks and access additional debt if needed. This reduces medium-term insolvency risk and supports financing options over 2–6 months.
Improved cash burn in 2025
Material reduction in operating and free cash outflows in 2025 signals improving cost control and operational efficiency. If sustained, narrower cash burn reduces near-term external funding needs and increases runway, improving the company's ability to execute strategy over the coming months.
Positive EBITDA emerging in 2025
Emerging positive EBITDA indicates core operations may be generating cash before non-cash and financing items. This structural improvement, if maintained, suggests operational scalability and a clearer path to profitability, enhancing long-term credit and capital-raising prospects.
Negative Factors
No reported revenue across periods
A persistent lack of revenue is a fundamental structural weakness: without recurring sales the business relies on financing or one-off activities, making sustainable earnings and cash-generation models unproven and increasing execution risk over the medium term.
Consistent negative operating and free cash flow
Continual negative operating and free cash flows imply the company cannot self-fund operations, forcing recurring external financing. This structural cash deficit raises dilution and refinancing risk and constrains investments critical to achieving durable revenue generation.
Declining equity and persistent losses
Material equity erosion and ongoing negative returns reflect sustained value dilution, limiting balance-sheet cushioning for future shocks. Over time this raises the probability of dilutive capital raises and weakens investor confidence in achieving profitable, scalable operations.

Fin Resources Limited (FIN) vs. iShares MSCI Australia ETF (EWA)

Fin Resources Limited Business Overview & Revenue Model

Company DescriptionFin Resources Limited engages in the exploration and development of mineral properties in Western Australia. The company explore for gold, base metals, graphite, nickel, copper, and cobalt deposits. It holds 80% interests in the Sol Mar project comprising five exploration licenses covering an area of approximately 425 square kilometers; and the McKenzie Springs project that covers an area of approximately 82 square kilometers. The company was formerly known as Orca Energy Limited and changed its name to Fin Resources Limited in April 2018. Fin Resources Limited was incorporated in 1985 and is based in West Perth, Australia.
How the Company Makes MoneyFin Resources Limited makes money through the exploration and development of mineral projects, which may lead to the sale of mineral resources or interests in mining projects. The company generates revenue by selling its extracted minerals, primarily focusing on lithium and nickel, to industrial clients involved in manufacturing batteries and other energy storage solutions. Additionally, the company may form joint ventures or strategic partnerships with other mining firms, allowing it to share exploration and production costs while benefiting from a share of the revenue generated from resource sales. As projects progress, Fin Resources may also earn income through the sale of stakes in its projects to larger mining companies or investors seeking exposure to the resource sector.

Fin Resources Limited Financial Statement Overview

Summary
Financial performance is weak: no reported revenue, persistent net losses, and negative operating/free cash flow across all years indicate ongoing cash burn and reliance on external funding. Offsetting this slightly, losses and cash burn improved materially in 2025 and leverage remains modest, but equity has declined meaningfully, increasing dilution/financing risk.
Income Statement
18
Very Negative
The company reports no revenue across all provided annual periods, and it remains consistently loss-making. Losses have narrowed materially in the most recent year (net loss improved to about -0.6M in 2025 from -3.6M in 2024), but profitability is still negative and earnings quality is volatile (e.g., 2025 shows positive EBITDA while EBIT remains negative), which limits confidence in underlying operating momentum.
Balance Sheet
55
Neutral
Leverage is currently modest (debt-to-equity ~0.19 in 2025), and equity remains positive, which provides some balance-sheet flexibility. However, equity has declined meaningfully versus earlier years (roughly 7.2M in 2022 to ~2.4M in 2025) and returns on equity are persistently negative, signaling ongoing value dilution risk if losses continue.
Cash Flow
22
Negative
Cash generation is weak, with operating cash flow and free cash flow negative in every year shown, indicating ongoing cash burn. Cash burn improved in 2025 (operating cash flow about -0.17M vs -0.61M in 2024; free cash flow about -0.68M vs -1.84M), but cash flows still do not support self-funding operations and suggest continued reliance on external financing.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue0.000.000.000.000.000.00
Gross Profit0.000.000.000.000.000.00
EBITDA1.07M2.20M-866.00K-955.35K-4.11M-629.00K
Net Income-365.60K-612.42K-3.61M-2.65M-5.01M-880.00K
Balance Sheet
Total Assets3.15M3.15M3.42M5.84M7.31M6.00M
Cash, Cash Equivalents and Short-Term Investments647.01K647.01K879.74K2.27M3.39M5.04M
Total Debt445.00K445.00K0.000.000.000.00
Total Liabilities776.84K776.84K738.04K110.01K67.94K352.58K
Stockholders Equity2.38M2.38M2.68M5.73M7.24M5.65M
Cash Flow
Free Cash Flow-677.00-677.68K-1.84M-1.64M-2.84M-917.98K
Operating Cash Flow-171.00-171.72K-608.26K-574.71K-1.15M-473.80K
Investing Cash Flow-10.63K-505.96K-1.23M-1.07M-1.69M-444.19K
Financing Cash Flow445.05K445.05K448.48K517.36K1.19M2.48M

Fin Resources Limited 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%
53
Neutral
AU$9.32M-2.27-6.61%69.66%
49
Neutral
AU$10.75M-2.57-27.31%-121.54%
47
Neutral
AU$5.23M-0.76-126.15%24.09%
46
Neutral
AU$5.16M-47.79%52.53%
42
Neutral
AU$11.62M-12.22-24.22%83.93%
38
Underperform
AU$8.27M-5.00-26.98%4.35%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:FIN
Fin Resources Limited
0.01
<0.01
10.00%
AU:C7A
Aus Tin Mining Limited
AU:CZN
Corazon Mining Limited
0.15
-0.07
-30.23%
AU:C29
C29 Metals Limited
0.03
-0.01
-30.23%
AU:BOA
Boadicea Resources Ltd.
0.04
0.02
76.19%
AU:PRL
Province Resources Ltd
0.01
-0.03
-73.17%

Fin Resources Limited Corporate Events

Fin Resources Issues 160.6 Million New Shares Under Cleansing Notice
Dec 31, 2025

Fin Resources Limited has issued 160,569,229 fully paid ordinary shares without a prospectus or other disclosure document, relying on provisions of the Corporations Act that allow such capital raisings under specific conditions. The company confirmed it is up to date with its financial reporting and continuous disclosure obligations and stated there is no excluded information that must be disclosed, signalling that the new shares can trade freely and that the capital raising has been structured to comply with Australian securities regulations, with implications for existing shareholder dilution and the company’s funding capacity.

The most recent analyst rating on (AU:FIN) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Fin Resources Limited stock, see the AU:FIN Stock Forecast page.

Fin Resources Director Boosts Equity Stake Through Note Conversion
Dec 31, 2025

Fin Resources Limited has reported a change in the indirect security holdings of director Bruce McFadzean via his interest in Tardis Too Pty Ltd . The update reflects internal capital structure adjustments rather than an operational development, but signals the director’s continued equity exposure to the company. McFadzean’s 20,000 convertible notes were fully converted into 3,076,923 ordinary shares at $0.0065 per share, with an accompanying issue of 3,076,923 unquoted options exercisable at $0.00845 and expiring on 31 December 2027, lifting his indirect shareholding to 13,031,468 shares while maintaining 5,000,000 existing options and adding the new tranche of options, and potentially aligning his interests more closely with equity performance over the medium term.

The most recent analyst rating on (AU:FIN) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Fin Resources Limited stock, see the AU:FIN Stock Forecast page.

Fin Resources Seeks ASX Quotation for 87.6 Million New Shares
Dec 31, 2025

Fin Resources Limited has applied to the ASX for quotation of 87,607,691 new fully paid ordinary shares, expanding its listed securities base. The issuance, which relates to previously announced transactions, increases the company’s share capital and could have implications for existing shareholders through dilution while potentially providing additional financial flexibility to support future corporate or operational initiatives.

The most recent analyst rating on (AU:FIN) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Fin Resources Limited stock, see the AU:FIN Stock Forecast page.

Fin Resources Issues 4.5 Million Shares to Consultant in Lieu of Cash
Dec 31, 2025

Fin Resources Limited has issued 4.5 million fully paid ordinary shares to a consultant as payment for part of an invoice under previously negotiated commercial terms that allowed settlement in equity rather than cash. The new shares, dated 31 December 2025, are now being applied for quotation on the ASX, slightly diluting existing shareholders while preserving the company’s cash reserves and formalising an equity-based consulting arrangement.

The most recent analyst rating on (AU:FIN) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Fin Resources Limited stock, see the AU:FIN Stock Forecast page.

Fin Resources Seeks ASX Quotation for 68.5 Million New Shares
Dec 31, 2025

Fin Resources Limited has applied to the ASX for quotation of 68,461,538 new fully paid ordinary shares, expanding its listed capital base. The issuance, which stems from previously announced transactions, is set to increase the company’s tradable securities from 31 December 2025, potentially enhancing liquidity and providing additional capital flexibility for future corporate and operational initiatives, with implications for existing shareholders through dilution and a broader investor base.

The most recent analyst rating on (AU:FIN) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Fin Resources Limited stock, see the AU:FIN Stock Forecast page.

Fin Resources Issues 68.5 Million Unquoted Options
Dec 31, 2025

Fin Resources Limited has notified the market of a new issue of 68,461,538 unquoted options, which are not intended to be quoted on the ASX. The issuance, formalised via an Appendix 3G filing, reflects a capital management or incentive-related move that adjusts the company’s unquoted equity structure and may impact existing stakeholders through future potential dilution if the options are exercised.

The most recent analyst rating on (AU:FIN) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Fin Resources Limited stock, see the AU:FIN Stock Forecast page.

Fin Resources to Issue 55 Million Unquoted Options in Capital Management Move
Dec 31, 2025

Fin Resources Limited, an Australian Securities Exchange issuer under code FIN, has notified the market of changes to its capital structure involving unquoted equity securities. The company will issue 55 million unquoted options on 31 December 2025 under a previously announced transaction, with these options not intended for quotation on the ASX, signalling a targeted use of equity-based instruments that may affect ownership dilution and incentive structures for existing stakeholders.

The most recent analyst rating on (AU:FIN) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Fin Resources Limited stock, see the AU:FIN Stock Forecast page.

Fin Resources Wins Shareholder Backing for Capital Resolutions at General Meeting
Dec 30, 2025

Fin Resources Limited has reported that all resolutions put to shareholders at its 30 December 2025 general meeting were passed by poll, with strong voting support across the register. The approvals cover the issue of consideration shares and performance rights to a seller, ratification and further issuance of placement shares, fees and options to advisors and consultants, and amendments to convertible note terms, collectively strengthening the company’s capacity to complete transactions, compensate service providers and manage its capital structure, which may enhance its financial flexibility and support future project and corporate initiatives.

Fin Resources Updates Cabin Lake Gold Project Exploration Plans
Dec 12, 2025

Fin Resources Limited has amended its previous announcement regarding the Cabin Lake Gold Project to include additional information on visual mineralisation and estimated timeframes for assay results. The company has identified untested mineralisation potential in unsampled drillholes from 2022, with priority sampling currently underway to confirm the presence of gold. The initiative aims to accelerate discovery at minimal cost, with 3D geophysics reprocessing and strong community support paving the way for a planned drilling program in 2026.

FIN Resources Identifies New Opportunities at Cabin Lake Gold Project
Dec 7, 2025

FIN Resources Limited has announced significant progress in its Cabin Lake Gold Project, with new unassayed mineralized zones identified that could enhance the project’s value ahead of the 2026 drilling program. The company is undertaking sampling of previously untested drill holes, reprocessing geophysical data, and has secured strong local and First Nations support, positioning itself for a catalyst-rich period in the coming year.

Director’s Interest in Fin Resources Limited Expands
Nov 27, 2025

Fin Resources Limited announced a change in the director’s interest, with Bruce McFadzean acquiring an additional 5,454,545 ordinary fully paid shares through Tardis Too Pty Ltd, as approved by shareholders at the company’s AGM. This acquisition, made in lieu of cash for director services, increases McFadzean’s total holdings to 9,954,545 shares, potentially strengthening his influence and aligning his interests with the company’s performance.

Fin Resources Limited Issues New Shares in Compliance with Corporations Act
Nov 27, 2025

Fin Resources Limited has announced the issuance of 27,272,725 fully paid ordinary shares without disclosure to investors, in compliance with the Corporations Act 2001. This move indicates the company’s adherence to regulatory requirements and suggests a strategic financial maneuver to potentially enhance its capital structure, which may impact its market positioning and stakeholder interests.

Fin Resources Limited Issues New Shares to Strengthen Capital Structure
Nov 27, 2025

Fin Resources Limited has announced the issuance of 27,272,725 fully paid ordinary shares, following shareholder approval obtained at the recent AGM. This move is part of the company’s strategy to enhance its capital structure, potentially impacting its market position and providing opportunities for growth and development within the industry.

FIN Resources Enhances Team and Advances Cabin Lake Gold Project
Nov 25, 2025

FIN Resources Limited has strengthened its technical team with the appointments of Dr. Solomon Buckman and Mr. Stephen Winterbottom to enhance its exploration capabilities at the Cabin Lake Gold Project in Canada. The company has commenced on-site assessments and due diligence activities, with historical data indicating significant high-grade gold potential. These developments position FIN for accelerated project development and potential growth in 2026.

Fin Resources Limited Announces General Meeting for Shareholders
Nov 24, 2025

Fin Resources Limited has announced a General Meeting for its shareholders, scheduled to take place on December 30, 2025, in West Perth, Australia. Shareholders are encouraged to participate by attending in person, voting by proxy, or appointing an authorized representative. The company emphasizes the importance of submitting proxy forms and questions in advance to facilitate efficient meeting preparation. Updates or changes regarding the meeting will be communicated through the company’s website and ASX announcement platform.

Fin Resources Limited Announces Successful AGM Outcomes
Nov 21, 2025

Fin Resources Limited announced the successful results of its Annual General Meeting, where all resolutions were passed. This includes key decisions such as the re-election of directors and the approval of share issues in lieu of fees, which could enhance the company’s financial flexibility and governance structure.

Fin Resources Expands Share Issuance to Fund Strategic Acquisition
Nov 5, 2025

Fin Resources Limited has issued 173,700,000 fully paid ordinary shares without disclosure to investors under the Corporations Act, in compliance with relevant legal provisions. This strategic move is part of the company’s ongoing efforts to enhance its financial position and support its recent acquisition of the high-grade Cabin Lake Gold Project in Canada, potentially strengthening its market presence and offering new opportunities for stakeholders.

Fin Resources Limited Announces Quotation of New Securities on ASX
Nov 5, 2025

Fin Resources Limited announced the quotation of 173,700,000 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of November 5, 2025. This move is part of previously announced transactions and is expected to enhance the company’s market presence and liquidity, potentially benefiting stakeholders by increasing the company’s capital base and investment opportunities.

Fin Resources Limited Announces Major Securities Issue
Oct 29, 2025

Fin Resources Limited announced a proposed issue of securities, including 90 million performance rights, 20 million unquoted lead manager options, 30 million corporate advisor options, and 290 million fully paid ordinary shares. This strategic move is expected to strengthen the company’s capital base and enhance its market positioning by expanding its financial instruments, potentially impacting stakeholders by increasing the company’s financial flexibility and investment appeal.

FIN Resources Acquires High-Grade Cabin Lake Gold Project in Canada
Oct 29, 2025

FIN Resources Limited has announced the acquisition of a 100% interest in the Cabin Lake Gold Project, located in Canada’s Northwest Territories. This project, situated in a Tier-1 jurisdiction, offers FIN a fully permitted, drill-ready gold asset with significant near-surface exploration potential. The Cabin Lake Project is strategically located near existing infrastructure and benefits from strong local partnerships, including an access agreement with the Tłı̨chǫ Government. The acquisition positions FIN Resources to capitalize on the project’s high-grade mineralization and extensive exploration potential, enhancing its industry positioning and offering potential value to stakeholders.

Fin Resources Limited Initiates Trading Halt for Major Announcement
Oct 27, 2025

Fin Resources Limited has requested a trading halt on its securities pending a significant announcement regarding a material acquisition and capital raising. This move is intended to help the company manage its disclosure obligations and is expected to impact its market operations and investor relations.

Fin Resources Limited Announces Annual General Meeting Details
Oct 17, 2025

Fin Resources Limited has announced its Annual General Meeting (AGM) for shareholders, scheduled for November 21, 2025, in West Perth. Shareholders are encouraged to participate either in person or by proxy, with the company emphasizing the importance of lodging proxy forms and submitting questions in advance to facilitate a smooth meeting process. The AGM will address key business matters affecting shareholdings, and shareholders are advised to review the meeting notice in full and seek professional advice if needed.

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: Jan 17, 2026