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Felix Gold Ltd. (AU:FXG)
ASX:FXG
Australian Market

Felix Gold Ltd. (FXG) AI Stock Analysis

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AU:FXG

Felix Gold Ltd.

(Sydney:FXG)

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Neutral 42 (OpenAI - 5.2)
Rating:42Neutral
Price Target:
AU$0.31
▼(-14.72% Downside)
The score is constrained primarily by weak financial performance (no revenue, ongoing losses, and cash burn), partially offset by low leverage and higher equity. Technical indicators add modest downside bias with the price below key short-to-mid moving averages and negative MACD. Valuation provides limited support given negative earnings and no dividend data.
Positive Factors
Strategic Leadership
The addition of Blair Way, with extensive industry experience, enhances Felix Gold's leadership, potentially improving strategic direction and execution as the company advances its projects.
U.S. Antimony Supply Chain
The focus on antimony supply aligns with U.S. strategic mineral needs, positioning Felix Gold as a key player in critical mineral supply, potentially driving long-term growth and partnerships.
Capital Raising
The capital raise strengthens Felix Gold's financial position, providing resources for exploration and development, enhancing its ability to execute strategic initiatives and improve market competitiveness.
Negative Factors
Lack of Revenue
The absence of revenue reflects a reliance on external funding, posing risks to financial sustainability and limiting self-sufficiency, which can hinder long-term operational stability.
Negative Cash Flow
Persistent negative cash flow indicates ongoing financial strain, requiring continuous external financing and potentially limiting the company's ability to invest in growth opportunities.
Operating Losses
Widening operating losses highlight cost pressures and limited operational efficiency, challenging Felix Gold's path to profitability and necessitating strategic adjustments to improve financial performance.

Felix Gold Ltd. (FXG) vs. iShares MSCI Australia ETF (EWA)

Felix Gold Ltd. Business Overview & Revenue Model

Company DescriptionFelix Gold Limited engages in the exploration of mineral projects in Alaska. It primarily explores for gold and precious metal deposits. The company holds interest in the Treasure Creek, Grant-Ester, NE Fairbanks, and Liberty Bell projects located in Alaska. It also owns a 100% lease interest in the MHT project consisting of one mining claim covering an area of 6,203 acres located in Fairbanks City. The company was incorporated in 2020 and is based in Brisbane, Australia.
How the Company Makes MoneyFelix Gold Ltd. generates revenue primarily through the exploration and development of gold mining projects. The company identifies and acquires promising mineral properties, conducts extensive exploration activities to determine the viability of these sites, and then either develops the mines themselves or partners with larger mining companies. These partnerships can involve joint ventures or outright sales of mining rights, providing Felix Gold with upfront payments, royalties, or a share of the profits. Additionally, the company may raise funds through equity financing, enabling further exploration and development activities.

Felix Gold Ltd. Financial Statement Overview

Summary
Financial performance is weak: the company reports no revenue across 2021–2025, losses widened in 2025, and operating/free cash flow remain negative (ongoing cash burn). Offsetting this, leverage is low (no debt in 2025) and equity increased materially, reducing near-term solvency pressure but not fixing profitability.
Income Statement
12
Very Negative
The company reports no revenue across 2021–2025 annual periods, while operating losses remain persistent. Net loss widened in 2025 (annual) to about -2.69M versus -1.56M in 2024, indicating cost pressure and limited operating leverage. Profitability remains structurally weak given the absence of sales and recurring negative earnings.
Balance Sheet
63
Positive
Balance sheet leverage is low, with total debt at 0 in 2025 (annual) and a very modest debt load in 2024 (about 0.73M). Equity has grown meaningfully (about 19.8M in 2024 to 38.9M in 2025), supporting a larger asset base and providing financial flexibility. The key weakness is ongoing negative returns on equity, reflecting continued losses despite a stronger capital position.
Cash Flow
24
Negative
Cash generation is weak with operating cash flow negative each year, and free cash flow also negative across the full period. Free cash flow improved substantially in 2025 (annual) to roughly -1.68M versus a very large outflow in 2023 (about -8.33M), but the business is still consuming cash and not self-funding. Overall, the trend is better than the worst years, yet cash burn remains a clear risk without revenue support.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue0.000.000.000.000.000.00
Gross Profit-10.65K-10.65K-10.70K-10.68K-9.86K0.00
EBITDA-2.68M-2.68M-1.55M-2.21M-2.15M474.37K
Net Income-2.69M-2.69M-1.56M-2.22M-2.15M-949.00K
Balance Sheet
Total Assets41.53M41.53M20.76M18.84M18.54M7.24M
Cash, Cash Equivalents and Short-Term Investments16.43M16.43M1.60M1.26M6.93M5.07M
Total Debt0.000.00730.00K0.000.000.00
Total Liabilities2.60M2.60M951.81K133.55K743.01K80.38K
Stockholders Equity38.93M38.93M19.80M18.71M17.80M7.16M
Cash Flow
Free Cash Flow-1.68M-1.68M-1.02M-8.33M-7.66M-2.89M
Operating Cash Flow-1.62M-1.62M-1.02M-1.57M-1.90M-716.13K
Investing Cash Flow-4.35M-4.35M-2.11M-6.77M-5.91M-2.18M
Financing Cash Flow20.80M20.80M3.48M2.66M9.65M7.97M

Felix Gold Ltd. Technical Analysis

Technical Analysis Sentiment
Negative
Last Price0.36
Price Trends
50DMA
0.38
Negative
100DMA
0.45
Negative
200DMA
0.31
Positive
Market Momentum
MACD
>-0.01
Positive
RSI
37.97
Neutral
STOCH
29.21
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:FXG, the sentiment is Negative. The current price of 0.36 is below the 20-day moving average (MA) of 0.37, below the 50-day MA of 0.38, and above the 200-day MA of 0.31, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 37.97 is Neutral, neither overbought nor oversold. The STOCH value of 29.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:FXG.

Felix Gold 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%
55
Neutral
AU$214.31M-42.28-6.79%19.94%
54
Neutral
AU$224.74M-64.80-6.23%-100.00%-155.68%
50
Neutral
AU$168.33M-70.00-5.37%
47
Neutral
AU$35.96M-9.72-13.66%50.00%
47
Neutral
AU$67.34M-7.39-42.43%307.85%-133.82%
42
Neutral
AU$157.47M-38.10-9.15%-12.00%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:FXG
Felix Gold Ltd.
0.32
0.22
204.76%
AU:TSO
Tesoro Gold
1.21
0.86
249.28%
AU:HAV
Havilah Resources Limited
0.64
0.43
202.38%
AU:AS1
Golden Rim Resources Ltd
0.11
0.08
337.50%
AU:KNB
Koonenberry Gold Limited
0.04
0.01
45.83%
AU:VTX
Vertex Minerals Ltd.
0.24
-0.08
-25.40%

Felix Gold Ltd. Corporate Events

Felix Gold Confirms Broad Gold Zones at Alaska’s Treasure Creek as Prices Hit Record Highs
Jan 28, 2026

Felix Gold has reported strong gold assay results from drilling at the NW Array prospect within its Treasure Creek project in Alaska, including broad mineralised intervals grading up to 3.90 g/t gold, confirming an extensive gold system in the same structural corridor that hosts high-grade antimony. With gold prices at record highs and NW Array located just 30km by road from Kinross Gold’s Fort Knox mill, management is highlighting the strategic potential for toll treatment of gold-bearing material alongside its emerging antimony production plans, presenting a dual-commodity platform that could leverage existing regional infrastructure and Kinross’s stated strategy of sourcing third-party ore to supplement Fort Knox throughput.

The most recent analyst rating on (AU:FXG) stock is a Hold with a A$0.40 price target. To see the full list of analyst forecasts on Felix Gold Ltd. stock, see the AU:FXG Stock Forecast page.

Felix Gold Appoints Blair Way as Director and Issues 1.5 Million Options
Dec 18, 2025

Felix Gold Limited has appointed Blair Way as a director, effective 19 December 2025, and disclosed his initial interests in the company’s securities in accordance with ASX listing requirements. Way has been granted a total of 1.5 million unlisted options in three equal tranches, exercisable at strike prices between $0.48 and $0.68 and expiring on 31 December 2028, with no additional indirect holdings or contractual interests reported, outlining the equity-based component of his remuneration and alignment with shareholder value.

The most recent analyst rating on (AU:FXG) stock is a Buy with a A$1.20 price target. To see the full list of analyst forecasts on Felix Gold Ltd. stock, see the AU:FXG Stock Forecast page.

Felix Gold Discloses Director Mark Strizek’s Exit and Remaining Shareholdings
Dec 18, 2025

Felix Gold Ltd has announced the departure of director Mark Strizek from its board, effective 19 December 2025, and has lodged a final director’s interest notice with the ASX. The filing details Strizek’s remaining holdings in the company, including more than 1.9 million fully paid ordinary shares, options, and an additional indirect shareholding via Ardentis Pty Ltd, providing investors with transparency on his ongoing financial interest in the company following his resignation.

The most recent analyst rating on (AU:FXG) stock is a Buy with a A$1.20 price target. To see the full list of analyst forecasts on Felix Gold Ltd. stock, see the AU:FXG Stock Forecast page.

Felix Gold Issues 4 Million Unquoted Options to Bolster Capital Flexibility
Dec 18, 2025

Felix Gold Limited has notified the ASX of the issue of new unquoted options with various exercise prices and expiries in December 2028, expanding its pool of equity-based instruments. The issuance, totaling 4 million options, is likely intended to support future capital management, staff or director incentives, and potential funding flexibility, which could modestly dilute existing holders if exercised but may better align key stakeholders with the company’s long-term share price performance.

The most recent analyst rating on (AU:FXG) stock is a Buy with a A$1.20 price target. To see the full list of analyst forecasts on Felix Gold Ltd. stock, see the AU:FXG Stock Forecast page.

Felix Gold Bolsters Board With Veteran Mining Executive as It Moves Toward Production
Dec 18, 2025

Felix Gold Limited has strengthened its board with the immediate appointment of veteran mining executive Blair Way as a non-executive director, while non-executive director Mark Strizek retires to focus on other commitments. Way, a geologist with more than 35 years’ experience across lithium, gold, copper and other critical minerals, is best known for leading the discovery and rapid expansion of the Shaakichiuwaanaan lithium deposit at Patriot Battery Metals, now considered North America’s largest hard-rock lithium resource. Felix’s chairman highlighted that Way’s blend of exploration, development and capital markets expertise will support the company as it advances high-grade antimony opportunities toward near-term development and continues to grow its gold resource base in Alaska. Way underscored Felix’s strategic appeal in combining near-term critical minerals development with large-scale gold potential and its ability to feed into a U.S. supply chain amid heightened national security and defence priorities, while Strizek’s departure comes as the company shifts into a more development-focused phase.

The most recent analyst rating on (AU:FXG) stock is a Buy with a A$1.20 price target. To see the full list of analyst forecasts on Felix Gold Ltd. stock, see the AU:FXG Stock Forecast page.

Felix Gold Advances U.S. Antimony Supply Through Significant Drilling Results and Processing Plans
Dec 17, 2025

Felix Gold Ltd. has reported promising drilling results at the NW Array antimony-gold prospect in Alaska, confirming high-grade stibnite vein structures and identifying additional parallel veins and breccia-style mineralization. The results enhance the company’s mineralization inventory as it advances toward bulk sampling and near-term production, while pending gold assays add upside potential. Additionally, Felix Gold has engaged Worley to accelerate downstream processing plans, including site selection for a U.S. processing facility and toll-treatment options, aiming to address U.S. antimony supply-chain gaps critical for military-grade materials. With advancing engineering, permitting, and metallurgical efforts, Felix is positioning itself as a strategic solution for critical mineral supply in the U.S., with significant near-term catalysts anticipated for stakeholders.

The most recent analyst rating on (AU:FXG) stock is a Buy with a A$1.20 price target. To see the full list of analyst forecasts on Felix Gold Ltd. stock, see the AU:FXG Stock Forecast page.

Felix Gold Raises $18 Million Through Share Placement
Dec 12, 2025

Felix Gold Limited has successfully completed a placement of 50 million new fully paid ordinary shares at $0.36 each, raising a total of $18 million. This capital raising effort, conducted without disclosure to investors under specific provisions of the Corporations Act, signifies a strategic move to bolster the company’s financial position, potentially enhancing its operational capabilities and market competitiveness.

The most recent analyst rating on (AU:FXG) stock is a Buy with a A$1.20 price target. To see the full list of analyst forecasts on Felix Gold Ltd. stock, see the AU:FXG Stock Forecast page.

Felix Gold Ltd. Announces Quotation of 50 Million Securities on ASX
Dec 12, 2025

Felix Gold Ltd. has announced the quotation of 50,000,000 fully paid ordinary securities on the Australian Securities Exchange (ASX) under the code FXG. This move is part of previously announced transactions and is expected to enhance the company’s liquidity and market visibility, potentially impacting its operational capacity and stakeholder interests positively.

The most recent analyst rating on (AU:FXG) stock is a Buy with a A$1.20 price target. To see the full list of analyst forecasts on Felix Gold Ltd. stock, see the AU:FXG Stock Forecast page.

Felix Gold Ltd. Announces Quotation of New Securities on ASX
Dec 10, 2025

Felix Gold Ltd. has announced the quotation of 125,000 ordinary fully paid securities on the Australian Securities Exchange (ASX) under the code FXG. This move is part of the company’s strategy to leverage financial markets for growth and operational expansion, potentially impacting its market positioning and offering new opportunities for stakeholders.

The most recent analyst rating on (AU:FXG) stock is a Buy with a A$1.20 price target. To see the full list of analyst forecasts on Felix Gold Ltd. stock, see the AU:FXG Stock Forecast page.

Felix Gold Ltd. Announces Proposed Securities Issuance to Strengthen Financial Position
Dec 8, 2025

Felix Gold Ltd. has announced a proposed issuance of securities, including 2.5 million unlisted options and 50 million ordinary fully paid shares, scheduled for December 12, 2025. This strategic move is expected to bolster the company’s financial resources, potentially enhancing its exploration and development capabilities in the competitive gold mining sector.

The most recent analyst rating on (AU:FXG) stock is a Buy with a A$1.20 price target. To see the full list of analyst forecasts on Felix Gold Ltd. stock, see the AU:FXG Stock Forecast page.

Felix Gold Secures $18 Million for Strategic Expansion
Dec 8, 2025

Felix Gold Limited has successfully raised $18 million through a placement of 50 million shares at $0.36 each, supported by both offshore and Australian institutional investors. The funds will be used for exploration, feasibility studies, operational expansion, and working capital. This capital raise positions Felix Gold to advance its bulk sampling program and pursue near-term production of military-grade antimony, a strategic move given China’s export restrictions. The company is poised for significant developments with ongoing discussions with U.S. agencies and potential strategic partnerships, while maintaining financial flexibility to maximize shareholder value.

The most recent analyst rating on (AU:FXG) stock is a Buy with a A$1.20 price target. To see the full list of analyst forecasts on Felix Gold Ltd. stock, see the AU:FXG Stock Forecast page.

Felix Gold Limited Initiates Trading Halt for Material Placement
Dec 4, 2025

Felix Gold Limited, listed on the ASX under the ticker FXG, has requested a trading halt on its securities. This halt is in place to facilitate the execution of a material placement, with trading expected to resume by December 8, 2025, or upon the release of a relevant announcement. The halt aims to ensure fair trading conditions and transparency for stakeholders.

The most recent analyst rating on (AU:FXG) stock is a Buy with a A$1.20 price target. To see the full list of analyst forecasts on Felix Gold Ltd. stock, see the AU:FXG Stock Forecast page.

Felix Gold Unveils High-Grade Gold Results at Treasure Creek
Nov 24, 2025

Felix Gold Limited has announced promising high-grade gold assay results from its 2025 drilling program at the Treasure Creek Project in Alaska’s Fairbanks Mining District. The results, including a notable 4.89 meters at 20.42 g/t gold, highlight the potential of the geological structures that also contain antimony mineralization. This development underscores the district’s gold potential and Felix Gold’s strategic positioning as a major landholder, with implications for future exploration and development activities.

The most recent analyst rating on (AU:FXG) stock is a Buy with a A$1.20 price target. To see the full list of analyst forecasts on Felix Gold Ltd. stock, see the AU:FXG Stock Forecast page.

Felix Gold Limited Announces Quotation of New Securities on ASX
Nov 20, 2025

Felix Gold Limited has announced the quotation of 750,000 fully paid ordinary securities on the Australian Securities Exchange (ASX) under the code FXG. This move is part of the company’s strategy to exercise options or convert other securities, potentially impacting its market operations and offering new opportunities for stakeholders.

The most recent analyst rating on (AU:FXG) stock is a Buy with a A$1.20 price target. To see the full list of analyst forecasts on Felix Gold Ltd. stock, see the AU:FXG Stock Forecast page.

Felix Gold Achieves Military-Grade Antimony Purity, Boosting U.S. Supply Chain Security
Nov 19, 2025

Felix Gold Ltd. has announced successful test results from its Treasure Creek NW Array prospect, confirming ultra-high purity antimony ore that meets military-grade specifications with minimal processing. This development positions Felix Gold as a key player in the U.S. antimony supply chain, offering a domestic source of this critical mineral. The company has validated multiple processing pathways, ensuring flexibility and reduced risk in production. With the U.S. heavily reliant on foreign antimony sources, Felix Gold’s findings could significantly enhance supply chain security and accelerate production timelines, although production scenarios remain conceptual pending further studies and approvals.

The most recent analyst rating on (AU:FXG) stock is a Buy with a A$1.20 price target. To see the full list of analyst forecasts on Felix Gold Ltd. stock, see the AU:FXG Stock Forecast page.

Felix Gold Enhances Disclosure Compliance
Nov 14, 2025

Felix Gold Limited has completed an internal review of its continuous disclosure policy to ensure compliance with ASX Listing Rules. The company engaged GRT Lawyers to assess its disclosure practices and conducted training for its board and management to enhance understanding of disclosure obligations. This initiative underscores Felix Gold’s commitment to transparency and high corporate governance standards.

The most recent analyst rating on (AU:FXG) stock is a Buy with a A$1.20 price target. To see the full list of analyst forecasts on Felix Gold Ltd. stock, see the AU:FXG Stock Forecast page.

Felix Gold Advances Antimony Supply Chain Amid U.S. Strategic Mineral Push
Oct 31, 2025

Felix Gold Limited has made significant strides in transitioning from exploration to operational readiness, focusing on establishing a domestic supply solution for antimony. During the September quarter, the company advanced its bulk sampling operations, regulatory pathways, and exploration activities, positioning its Treasure Creek project as a key asset in the U.S. critical minerals strategy. The company’s engagement with U.S. federal agencies underscores its strategic alignment with national supply objectives, as geopolitical competition for strategic minerals intensifies.

The most recent analyst rating on (AU:FXG) stock is a Buy with a A$1.20 price target. To see the full list of analyst forecasts on Felix Gold Ltd. stock, see the AU:FXG Stock Forecast page.

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 31, 2026