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Great Northern Minerals Limited (AU:GNM)
ASX:GNM

Great Northern Minerals Limited (GNM) AI Stock Analysis

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AU:GNM

Great Northern Minerals Limited

(Sydney:GNM)

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Neutral 41 (OpenAI - 5.2)
Rating:41Neutral
Price Target:
AU$0.05
▲(17.50% Upside)
The score is held down primarily by weak financial performance (no revenue, ongoing losses, and continued cash burn). Technical indicators also lean bearish with negative MACD and the price below key moving averages. Valuation signals are limited due to negative earnings and no dividend yield data.
Positive Factors
Low leverage / no debt
A zero-debt profile materially reduces solvency risk and gives management strategic flexibility to prioritize exploration, M&A, or staged project funding without immediate lender constraints. This durable balance-sheet strength improves survival odds during prolonged non‑revenue phases.
Improving net loss trend
A marked reduction in reported losses across consecutive years suggests management is cutting costs or increasing operating efficiency. While still unprofitable, an enduring improvement trajectory enhances the company’s ability to extend runway, reduces future funding needs, and supports eventual progression toward breakeven.
Exposure to Gold industry
Operating in the gold sector aligns the company with a structural market where long‑term demand drivers and scarcity characteristics can support asset value for explorers and producers. This industry exposure can preserve project economics over multi‑year cycles if commodity fundamentals remain supportive.
Negative Factors
Zero reported revenue
No revenue in recent years indicates a non‑producing, early‑stage profile reliant on exploration outcomes. Over a 2–6 month horizon this structural lack of sales means continued dependence on external capital, makes operational scalability untested, and heightens execution risk versus producing peers.
Persistent negative cash flow
Sustained negative operating and free cash flow signals ongoing cash burn and limited self‑funding capacity. This structural weakness forces recurring financing events or dilution, constrains multi‑year project development, and increases the risk that capital availability, not project merit, dictates progress.
Shrinking shareholders' equity
Material decline in equity over multiple years reflects value erosion from losses and/or dilution, reducing the balance‑sheet buffer for setbacks. This durable weakness diminishes resilience to adverse outcomes, heightens funding urgency, and can impair the company’s ability to pursue opportunities without significant external capital.

Great Northern Minerals Limited (GNM) vs. iShares MSCI Australia ETF (EWA)

Great Northern Minerals Limited Business Overview & Revenue Model

Company DescriptionGreat Northern Minerals Limited explores for and develops gold mineral properties. It has 100% interests in the Golden Ant Project comprising Camel Creek, Golden Cup, and Big Rush located in Northern Queensland. The company was formerly known as Greenpower Energy Limited and changed its name to Great Northern Minerals Limited in October 2019. The company was incorporated in 1899 and is based in West Perth, Australia.
How the Company Makes MoneyGreat Northern Minerals Limited generates revenue primarily through the exploration and development of its gold mining projects. The company's key revenue streams include the sale of extracted minerals, mainly gold, from its mining operations. Additionally, GNM may enter into joint ventures or partnerships with other mining companies to further develop its projects, which can lead to shared revenues. The company also benefits from fluctuations in gold prices, as higher market prices can enhance profitability. Exploration success and resource upgrades play a critical role in attracting investment and increasing the company's market valuation, providing further financial opportunities through equity financing or asset sales.

Great Northern Minerals Limited Financial Statement Overview

Summary
Income statement and cash flow are very weak (zero revenue in 2024–2025, continued losses, and persistent negative operating/free cash flow indicating ongoing cash burn). The main offset is a low-leverage balance sheet (no debt in 2024–2025), but shrinking equity and negative returns point to continued funding/dilution risk.
Income Statement
18
Very Negative
The company has very limited and inconsistent revenue generation (revenue is zero in 2025 and 2024), which makes profitability structurally weak. Losses continue in the most recent years, with net income at -615,539 in 2025 versus -2,011,056 in 2024 (an improvement, but still negative). While 2023 showed a one-off profitable year (net income 1,363,852) on modest revenue, the broader multi-year pattern is persistent operating losses and negative operating earnings, indicating an early-stage or non-producing profile with high cost burden relative to sales.
Balance Sheet
46
Neutral
Leverage is low with minimal to no debt in recent periods (total debt is 0 in 2025 and 2024), which reduces solvency risk and provides balance-sheet flexibility. However, the equity base has been shrinking materially (stockholders’ equity fell from 3,585,921 in 2023 to 1,351,213 in 2025), reflecting ongoing losses and/or capital movements. Returns on equity are negative in the latest two years, consistent with value erosion despite a relatively clean debt profile.
Cash Flow
20
Very Negative
Cash generation is weak: operating cash flow and free cash flow are consistently negative across all provided years, including -744,321 in 2025 and -1,557,913 in 2024, indicating ongoing cash burn to sustain operations. Free cash flow improved in 2025 versus 2024, but it remains meaningfully negative, suggesting continued reliance on external funding (e.g., equity raises) to finance exploration and corporate costs. Cash flow performance has been volatile year-to-year, and the overall trend still points to limited self-funding capacity.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue0.000.000.0049.40K1.80K0.00
Gross Profit-7.34K-7.34K-23.37K8.27K-40.02K-44.21K
EBITDA-789.86K-789.86K-1.49M1.41M-6.88M-3.46M
Net Income-615.54K-615.54K-2.01M1.36M-6.93M-3.51M
Balance Sheet
Total Assets1.41M1.41M3.75M4.73M6.20M3.92M
Cash, Cash Equivalents and Short-Term Investments1.29M1.29M230.20K1.23M2.75M1.90M
Total Debt0.000.000.0011.67K44.99K75.24K
Total Liabilities57.31K57.31K2.33M2.36M6.79M425.67K
Stockholders Equity1.35M1.35M2.47M3.59M638.17K4.72M
Cash Flow
Free Cash Flow-331.98K-744.32K-1.57M-2.85M-1.96M-4.83M
Operating Cash Flow-331.98K-744.32K-1.56M-2.83M-1.96M-3.98M
Investing Cash Flow1.30M1.81M568.39K179.75K0.00-853.83K
Financing Cash Flow0.000.00-9.54K1.13M2.81M4.22M

Great Northern Minerals Limited Technical Analysis

Technical Analysis Sentiment
Negative
Last Price0.04
Price Trends
50DMA
0.05
Negative
100DMA
0.06
Negative
200DMA
0.04
Positive
Market Momentum
MACD
>-0.01
Negative
RSI
42.29
Neutral
STOCH
26.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:GNM, the sentiment is Negative. The current price of 0.04 is below the 20-day moving average (MA) of 0.05, below the 50-day MA of 0.05, and below the 200-day MA of 0.04, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 42.29 is Neutral, neither overbought nor oversold. The STOCH value of 26.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:GNM.

Great Northern Minerals 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%
51
Neutral
AU$7.53M-2.97-127.51%168.85%13.51%
45
Neutral
AU$9.90M-4.88-131.62%65.32%
44
Neutral
AU$13.79M-0.7862.50%
43
Neutral
AU$3.97M-1.18-37.62%76.76%
41
Neutral
AU$20.85M-10.75-32.31%69.23%
41
Neutral
AU$2.76M-10.00-38.23%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:GNM
Great Northern Minerals Limited
0.04
0.03
186.67%
AU:LSR
Lodestar Minerals
0.01
0.00
0.00%
AU:DMG
Dragon Mountain Gold Limited
0.01
>-0.01
-23.08%
AU:GSM
Golden State Mining Ltd.
0.02
0.01
110.00%
AU:RAS
Ragusa Minerals Ltd
0.04
0.03
192.31%
AU:WSR
Westar Resources Ltd.
0.01
0.00
0.00%

Great Northern Minerals Limited Corporate Events

Great Northern Minerals Advances Catalyst Ridge With High-Grade Antimony Results and US Listing
Jan 22, 2026

Great Northern Minerals Limited reported a strong December 2025 quarter centred on the completed acquisition and rapid advancement of its Catalyst Ridge Project, where initial fieldwork has confirmed high-grade antimony mineralisation with associated silver and tungsten at the newly defined Antimony Gulch prospect. The company has begun expanding the project footprint through new prospecting permit applications over highly prospective ground, initiated extensive stream-sediment sampling to pinpoint rare earth element targets, entered an exclusive patent option agreement with the University of Arizona for advanced bastnaesite flotation technology directly applicable to Catalyst Ridge, secured trading of its shares on the US OTCQB under the code GNMRF, and closed the quarter with a cash balance of $2.82 million to support ongoing exploration and technology development.

The most recent analyst rating on (AU:GNM) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Great Northern Minerals Limited stock, see the AU:GNM Stock Forecast page.

Great Northern Minerals Seeks ASX Quotation for 13.4 Million Options
Jan 21, 2026

Great Northern Minerals Limited has applied to the ASX for quotation of 13,371,761 options (ASX code GNMO) expiring on 24 October 2027, with an issue date of 21 January 2026. The move formalises the listing of previously announced securities under an Appendix 3B, broadening the company’s tradable instrument base and potentially enhancing liquidity and flexibility for investors as it continues to fund and execute its exploration and development strategy.

The most recent analyst rating on (AU:GNM) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Great Northern Minerals Limited stock, see the AU:GNM Stock Forecast page.

Great Northern Minerals Issues Cleansing Prospectus to Free Trading of Listed Options
Jan 19, 2026

Great Northern Minerals has issued a cleansing prospectus for an offer of up to 10,000 listed options at a nil issue price, aimed at removing trading restrictions on all listed options issued prior to the offer’s closing date of 21 January 2026. The options offer is not underwritten and is classified as speculative, with the primary purpose being to enable freer secondary trading of the company’s options under section 708A(11) of the Corporations Act, which may enhance liquidity for existing option holders and support broader market participation in the company’s securities.

The most recent analyst rating on (AU:GNM) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Great Northern Minerals Limited stock, see the AU:GNM Stock Forecast page.

Great Northern Minerals Unveils High-Grade Antimony Vein at Catalyst Ridge
Dec 19, 2025

Great Northern Minerals Limited has reported a significant antimony discovery at its Catalyst Ridge Project, identifying a quartz-stibnite vein traceable over approximately one kilometre with widths up to six metres, and rock chip assays returning up to 7.1% antimony alongside notable silver and tungsten values. The company has applied to expand the project area to 20.48 square kilometres, is undertaking further sampling and geochemical work, and plans geophysical surveys to refine drill targets, with management highlighting geological similarities to established deposits that could enhance the project’s potential and underpin future value for shareholders.

Great Northern Minerals Strengthens U.S. Strategy with Strategic Advisor Appointment
Dec 8, 2025

Great Northern Minerals Limited has appointed Michael Melamed as a strategic advisor to enhance its capabilities in advancing its U.S. critical-minerals projects. Melamed, with over 30 years of experience in corporate finance and strategic leadership within the mining sector, will support the company in engaging with U.S. federal agencies and strategic partners to unlock funding pathways and accelerate growth. This move is expected to bolster the company’s operational and strategic positioning in the critical minerals market, particularly in the Mountain Pass District, a significant mining area in California.

Great Northern Minerals Issues Over 1 Million Shares
Dec 5, 2025

Great Northern Minerals Limited has issued 1,070,513 fully paid ordinary shares without disclosure to investors under section 708A of the Corporations Act 2001. This move is in compliance with the relevant provisions of the Corporations Act, and the company has confirmed that there is no excluded information to disclose, indicating a transparent approach to this share issuance.

Great Northern Minerals Limited Issues New Securities for ASX Quotation
Dec 5, 2025

Great Northern Minerals Limited has announced the issuance of 1,070,513 ordinary fully paid securities, effective December 5, 2025, as part of its application for quotation on the Australian Securities Exchange (ASX). This move is expected to strengthen the company’s financial position and potentially enhance its market presence, offering stakeholders an opportunity for increased investment returns.

Great Northern Minerals Issues 8 Million Performance Rights
Dec 5, 2025

Great Northern Minerals Limited has announced the issuance of 8,000,000 unquoted performance rights as part of an employee incentive scheme. These rights, expiring between 2026 and 2028, are intended to motivate and retain key personnel, potentially strengthening the company’s operational capabilities and competitive positioning in the mining sector.

Great Northern Minerals Issues New Shares Under Regulatory Compliance
Nov 26, 2025

Great Northern Minerals Limited has issued 1,385,897 fully paid ordinary shares without disclosure to investors, in accordance with section 708A of the Corporations Act. This move is part of the company’s compliance with regulatory requirements and does not involve any ‘excluded information’ that needs disclosure, indicating a transparent operational approach.

Great Northern Minerals Limited Announces Quotation of New Securities
Nov 26, 2025

Great Northern Minerals Limited has announced the quotation of 1,385,897 ordinary fully paid securities on the ASX, effective November 26, 2025. This move is part of the company’s strategy to enhance its financial flexibility and support its ongoing growth initiatives, potentially impacting its market positioning and offering new opportunities for stakeholders.

Great Northern Minerals Expands U.S. Market Presence with OTCQB Listing
Nov 20, 2025

Great Northern Minerals Limited has announced its successful listing on the OTCQB Venture Market in the United States under the ticker ‘GNMRF’. This strategic move is expected to enhance the company’s visibility and liquidity among North American investors, complementing its existing ASX listing. The listing aligns with GNM’s focus on U.S. critical minerals projects, particularly as it accelerates development efforts and evaluates strategic acquisitions. The Catalyst Ridge Project, located in California’s Mountain Pass District, is a key component of GNM’s strategy, supported by government initiatives to strengthen domestic supply chains.

Great Northern Minerals Announces Quotation of New Securities
Nov 12, 2025

Great Northern Minerals Limited has announced the quotation of 20 million new securities, set to expire on October 24, 2027. This move is part of previously announced transactions and is expected to impact the company’s operations by potentially increasing its capital base and enhancing its market positioning.

Great Northern Minerals Issues New Securities to Consultants
Nov 12, 2025

Great Northern Minerals Limited has announced the issuance of 500,000 fully paid ordinary securities to consultants under its existing employee securities incentive plan. This move is part of the company’s strategy to incentivize and retain key personnel, potentially impacting its operational efficiency and positioning in the mining sector.

Great Northern Minerals Director Increases Stake with New Options
Nov 12, 2025

Great Northern Minerals Limited announced a change in the director’s interest, with Ariel (Eddie) King acquiring 2,100,000 listed options through an options placement approved by shareholders. This change reflects the company’s strategic financial maneuvers to enhance its market positioning and potentially increase shareholder value.

Great Northern Minerals Limited Announces Quotation of New Securities
Nov 12, 2025

Great Northern Minerals Limited has announced the application for the quotation of 52,961,572 securities, set to expire on October 24, 2027. This move is part of previously announced transactions and reflects the company’s ongoing efforts to enhance its financial operations and market presence, potentially impacting its stakeholder relations and market positioning.

Great Northern Minerals Issues Cleansing Prospectus to Enhance Liquidity
Nov 11, 2025

Great Northern Minerals Limited has issued a cleansing prospectus to offer up to 10,000 shares and 10,000 listed options at a price of $0.001 each. This move aims to remove trading restrictions on these securities before the closing date of November 12, 2025, potentially enhancing liquidity and marketability for stakeholders.

Great Northern Minerals Partners with University of Arizona to Enhance REE Processing
Nov 7, 2025

Great Northern Minerals Limited has entered into a binding agreement with the University of Arizona to develop advanced flotation technology for bastnaesite rare earth ores, which is crucial for their Catalyst Ridge project. This partnership is expected to enhance REE recovery and reduce processing costs, aligning with national security supply chain strategies and potentially accessing U.S. critical minerals funding. The collaboration includes a sponsored research program to advance the technology, offering significant improvements in recoverability and processing efficiency, while reducing energy and reagent use.

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: Dec 30, 2025