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Golden State Mining Ltd.
(Sydney:GSM)
Golden State Mining Ltd. (GSM) vs. iShares MSCI Australia ETF (EWA)
Golden State Mining Ltd. Business Overview & Revenue Model
Golden State Mining Ltd. Financial Statement Overview
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 30.00K | 945.00K | 712.76K | 0.00 |
| Gross Profit | -20.40K | 30.00K | 945.00K | 661.98K | -108.17K |
| EBITDA | -2.78M | -2.78M | -3.12M | -3.09M | -1.63M |
| Net Income | -2.70M | -2.81M | -3.16M | -3.14M | -1.66M |
Balance Sheet | |||||
| Total Assets | 1.94M | 2.20M | 4.13M | 4.50M | 2.60M |
| Cash, Cash Equivalents and Short-Term Investments | 1.89M | 2.07M | 3.74M | 4.38M | 2.44M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 428.36K | 545.66K | 597.06K | 492.63K | 487.18K |
| Stockholders Equity | 1.51M | 1.66M | 3.54M | 4.01M | 2.11M |
Cash Flow | |||||
| Free Cash Flow | -2.78M | -2.67M | -3.37M | -2.35M | -1.52M |
| Operating Cash Flow | -2.78M | -2.67M | -3.35M | -2.34M | -1.46M |
| Investing Cash Flow | 44.57K | 318.27K | 370.44K | 23.21K | -57.44K |
| Financing Cash Flow | 2.55M | 685.28K | 2.34M | 4.25M | 1.28M |
Golden State Mining Ltd. Peers Comparison
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% | |
49 Neutral | AU$33.85M | -27.03 | -51.49% | ― | ― | 5.93% | |
48 Neutral | AU$4.68M | -15.38 | -66.08% | ― | ― | 80.88% | |
45 Neutral | AU$10.37M | -5.12 | -131.62% | ― | ― | 65.32% | |
44 Neutral | AU$8.41M | -1.00 | -898.12% | ― | ― | -34.64% | |
43 Neutral | AU$2.98M | -3.03 | -37.62% | ― | ― | 76.76% | |
41 Neutral | AU$22.79M | -11.75 | -32.31% | ― | ― | 69.23% |
Golden State Mining Ltd. Corporate Events
Golden State Mining Ltd. announced the resignation of director Gregory George Hancock, effective December 11, 2025. Hancock held significant interests in the company, including 250,000 fully paid ordinary shares directly and 2,421,383 shares through Hancock Corporate Investments Pty Ltd. This change in the board may impact the company’s strategic direction and stakeholder relations, given Hancock’s substantial shareholding and influence.
Golden State Mining Ltd. has announced the appointment of Christopher Tuckwell as a new director, effective December 11, 2025. This appointment is part of the company’s strategic efforts to strengthen its leadership team, although Tuckwell currently holds no securities or interests in the company. The announcement is a procedural update required by ASX regulations and does not indicate any immediate changes to the company’s operations or strategy.
Golden State Mining Limited announced the resignation of Mr. Gregory Hancock as Chair and Director, effective December 31, 2025. Mr. Hancock has been with the company since 2018, serving as both non-executive director and Chairman. The company is actively searching for a suitable replacement and will update the market once a new Chair is appointed.
Golden State Mining Limited announced the successful passage of all five resolutions during its Annual General Meeting. The resolutions included the adoption of the remuneration report, the election and re-election of directors, approval of a 10% placement facility, and the renewal of proportional takeover provisions. This outcome reflects strong shareholder support and positions the company for continued strategic growth.
Golden State Mining Limited announced that its Managing Director, Keith Middleton, will present to shareholders following the company’s Annual General Meeting on November 27, 2025. This presentation is expected to provide insights into the company’s current projects and future strategies, potentially impacting its operations and market positioning.
Golden State Mining Limited has issued a total of 129,344,650 fully paid ordinary shares, with the issuance conducted without disclosure to investors as per the Corporations Act 2001. This move is part of the company’s compliance with regulatory requirements, ensuring transparency and adherence to the ASX Listing Rules, which may impact the company’s financial operations and stakeholder interests.
Golden State Mining Limited announced the issuance of 118,750,000 unquoted options, set to expire on May 20, 2027, with an exercise price of $0.015. This issuance is part of previously announced transactions and is not intended to be quoted on the ASX, potentially impacting the company’s capital structure and strategic financial planning.
Golden State Mining Ltd. has announced the application for the quotation of 118,750,000 ordinary fully paid securities on the ASX, effective November 20, 2025. This move is part of previously announced transactions and is expected to enhance the company’s financial flexibility and market positioning, potentially benefiting stakeholders by increasing liquidity and access to capital.
Golden State Mining Limited has successfully completed a $1.5 million placement at 0.8 cents per share, with the issuance of free options for each share subscribed. This capital raising effort, which received strong support from investors, will fund ongoing gold exploration activities in Western Australia and the evaluation of potential new projects. Additionally, the company has appointed Keith Middleton as the new Managing Director, who will participate in the second tranche of the placement pending shareholder approval. A strategic review is underway to assess existing projects and explore new opportunities, signaling a forward-looking approach to the company’s growth.
Golden State Mining Limited has announced a change in the interest of its director, Gregory George Hancock, in the company’s securities. The director acquired 2,421,383 fully paid ordinary shares as a settlement for director fees earned from December 2024 to October 2025, as approved by shareholders in a recent General Meeting. This acquisition reflects a strategic move in compensating the director through equity, potentially aligning his interests with those of the shareholders.
Golden State Mining Ltd. has announced the issuance of 10,594,650 fully paid ordinary shares on the ASX. These shares are issued to related parties in lieu of outstanding director fees, following shareholder approval at the recent General Meeting. This move is part of the company’s strategy to manage its financial obligations and strengthen its capital structure.
Golden State Mining Limited has appointed Keith Middleton as the new Managing Director and CEO, effective immediately. Middleton, with over 20 years of experience in the mining sector, is expected to leverage his expertise in capital markets and project development to drive the company’s growth and enhance its exploration capabilities.
Golden State Mining Limited announced the issuance of 62,500,000 unquoted securities in the form of options with an exercise price of $0.015, expiring on April 30, 2027. This move is part of a previously announced transaction, indicating strategic financial maneuvers to potentially enhance the company’s capital structure and market positioning.
Golden State Mining Limited has announced the resignation of Michael James Moore from its board of directors, effective October 29, 2025. This change in leadership may impact the company’s strategic direction, as Moore held a significant interest in the company with 3,600,656 fully paid ordinary shares.
Golden State Mining Limited has announced the appointment of Keith Middleton as a Non-Executive Director, following the retirement of Mike Moore as Managing Director. Middleton brings over 20 years of experience in the global mining sector, previously leading a successful turnaround at American Rare Earths Limited. This strategic leadership change is expected to enhance shareholder value and strengthen the company’s board as it progresses in its operations.
Golden State Mining Limited announced the results of its General Meeting of Shareholders, where all five resolutions were passed in favor following a poll vote. This outcome reflects strong shareholder support for the company’s strategic decisions, including the ratification of prior share placements and the approval of issuing shares and options, which could enhance the company’s financial flexibility and operational capabilities.
Golden State Mining Ltd. announced the successful completion of a $1.5 million placement to sophisticated investors, issuing 187,500,000 new shares at 0.8 cents each, alongside options exercisable at 1.5 cents. The funds will support ongoing gold exploration projects in Western Australia and potential new acquisitions. The company also reported a board change, with Alex Tunnadine joining as a Non-Executive Director and Brenton Siggs stepping down. This strategic move aims to strengthen the company’s exploration and acquisition capabilities, positioning it for aggressive growth in the minerals sector.
Golden State Mining Limited has announced its Annual General Meeting, scheduled for November 27, 2025, in West Perth, Western Australia. The company emphasizes the importance of shareholder participation, offering options for proxy voting and encouraging electronic communication to reduce environmental impact.
Golden State Mining Limited has announced that its annual general meeting will take place on November 27, 2025, where the re-election and appointment of directors will be a key agenda item. The deadline for director nominations is set for October 16, 2025, indicating a structured approach to governance and potential leadership changes that could influence the company’s strategic direction.
Golden State Mining Limited has completed a high-resolution aeromagnetic survey at its Southern Cross East gold project, covering 3,053 line kilometers with 100-meter line spacing. This survey aims to enhance the resolution of existing magnetic data, delineate structural features, and refine drill targets, thereby supporting efficient resource allocation and maximizing shareholder value. The data is currently being processed, with results expected by December 2025, which could unlock further exploration opportunities and strengthen the company’s position in the gold exploration industry.