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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 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 30.00K | 945.00K | 712.76K |
| Gross Profit | -12.51K | -20.40K | 30.00K | 945.00K | 661.98K |
| EBITDA | -1.19M | -2.78M | -2.78M | -3.12M | -3.09M |
| Net Income | -1.20M | -2.70M | -2.81M | -3.16M | -3.14M |
Balance Sheet | |||||
| Total Assets | 727.10K | 1.94M | 2.20M | 4.13M | 4.50M |
| Cash, Cash Equivalents and Short-Term Investments | 719.95K | 1.89M | 2.07M | 3.74M | 4.38M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 416.04K | 428.36K | 545.66K | 597.06K | 492.63K |
| Stockholders Equity | 311.06K | 1.51M | 1.66M | 3.54M | 4.01M |
Cash Flow | |||||
| Free Cash Flow | -1.17M | -2.78M | -2.67M | -3.37M | -2.35M |
| Operating Cash Flow | -1.17M | -2.78M | -2.67M | -3.35M | -2.34M |
| Investing Cash Flow | 0.00 | 44.57K | 318.27K | 370.44K | 23.21K |
| Financing Cash Flow | 0.00 | 2.55M | 685.28K | 2.34M | 4.25M |
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% | |
47 Neutral | AU$65.13M | -2.79 | -51.49% | ― | ― | 5.93% | |
45 Neutral | AU$9.17M | -2.10 | -131.62% | ― | ― | 65.32% | |
45 Neutral | AU$4.87M | -7.90 | -66.08% | ― | ― | 80.88% | |
44 Neutral | AU$11.98M | -0.48 | -898.12% | ― | ― | -34.64% | |
43 Neutral | AU$3.22M | -0.22 | -37.62% | ― | ― | 76.76% | |
41 Neutral | AU$18.45M | -0.72 | -32.31% | ― | ― | 69.23% |
Golden State Mining Ltd. Corporate Events
Golden State Mining has disclosed a significant change in director Keith Middleton’s indirect interests, following shareholder approval at a recent general meeting. Through Middleton Nominees (SA) Pty Ltd, he has been issued 11,250,000 fully paid ordinary shares and 6,250,000 options, acquired via a placement and an incentive sign-on fee.
The issuance, including free attaching options and shares granted as a sign-on incentive, formalises Middleton’s equity alignment with the company and increases insider ownership. This development may be viewed by investors as a signal of commitment from the director, potentially influencing perceptions of governance, alignment of interests and future strategic engagement.
The most recent analyst rating on (AU:GSM) stock is a Sell with a A$0.02 price target. To see the full list of analyst forecasts on Golden State Mining Ltd. stock, see the AU:GSM Stock Forecast page.
Golden State Mining Limited has issued 11,250,000 fully paid ordinary shares and has notified the ASX that these securities were issued without a prospectus under the Corporations Act provisions governing such placements. The company confirmed it is compliant with its financial reporting and continuous disclosure obligations and stated there is no excluded information that investors would reasonably require to assess the company or the rights attached to the new shares.
The notice effectively acts as a cleansing statement, ensuring the new shares are freely tradable on the secondary market without further disclosure and reinforcing the company’s adherence to regulatory requirements. For existing and prospective shareholders, this supports transparency around the new issuance and signals that there are no undisclosed material matters affecting the company’s financial position or the newly issued securities.
The most recent analyst rating on (AU:GSM) stock is a Sell with a A$0.02 price target. To see the full list of analyst forecasts on Golden State Mining Ltd. stock, see the AU:GSM Stock Forecast page.
Golden State Mining has applied to the ASX for quotation of 5,000,000 new ordinary fully paid shares under its GSM code. The issuance of these additional securities, tied to a previously announced transaction, will increase the company’s listed share capital and may broaden its investor base while providing further capital flexibility.
The new shares are scheduled to be quoted from 23 February 2026, marking an expansion of tradeable equity in the market. This move could influence liquidity and ownership structure, with potential implications for existing shareholders depending on how the enlarged capital is deployed in the company’s exploration programs.
The most recent analyst rating on (AU:GSM) stock is a Sell with a A$0.02 price target. To see the full list of analyst forecasts on Golden State Mining Ltd. stock, see the AU:GSM Stock Forecast page.
Golden State Mining Ltd. has notified the market of the issue of 6,250,000 unquoted options, each with an exercise price of A$0.015 and an expiry date of 23 August 2027. These options, which form part of a previously disclosed transaction and are not intended to be quoted on the ASX, reflect the company’s ongoing use of structured equity incentives and may influence future capital structure and potential dilution for existing shareholders.
The most recent analyst rating on (AU:GSM) stock is a Sell with a A$0.02 price target. To see the full list of analyst forecasts on Golden State Mining Ltd. stock, see the AU:GSM Stock Forecast page.
Golden State Mining Ltd. has applied to the ASX for quotation of 6,250,000 new ordinary fully paid shares. The securities, issued on 23 February 2026 under a previously announced transaction, will expand the company’s quoted capital base and may enhance liquidity for existing and new shareholders.
The application, lodged as a new announcement under the ASX Appendix 2A process, formalises the transition of these securities to trading status. This step marks the completion of an earlier capital-related transaction and supports Golden State Mining’s ongoing access to equity markets for funding its exploration and development activities.
The most recent analyst rating on (AU:GSM) stock is a Sell with a A$0.02 price target. To see the full list of analyst forecasts on Golden State Mining Ltd. stock, see the AU:GSM Stock Forecast page.
Golden State Mining Limited has formalised a detailed corporate constitution covering share issuance, class rights, transfers, forfeiture, and handling of non-marketable parcels, aligning its internal governance with ASX Listing Rules. The document also defines procedures for calls on capital, liens, general meetings, and proportional takeover bids, providing a comprehensive framework for shareholder protections and corporate control that underpins the company’s ongoing compliance and operational structure.
The most recent analyst rating on (AU:GSM) stock is a Sell with a A$0.02 price target. To see the full list of analyst forecasts on Golden State Mining Ltd. stock, see the AU:GSM Stock Forecast page.
Golden State Mining has overhauled its leadership and capital structure, appointing a new three-member board with geological, mining and commercial expertise, installing Keith Middleton as managing director and adding Chris Tuckwell as a non-executive director, while completing a $1.5 million two-stage capital raising to stabilise its balance sheet and fund West Australian projects. Against a backdrop of heightened corporate and exploration activity in the Northern Pilbara following major project acquisitions by larger players, the company is refocusing its Yule Project strategy, shifting from previously unsuccessful, limited drilling campaigns to a more data-driven and geology-first desktop review aimed at redefining gold targets and exploration methods, with strict cost discipline and minimal expenditure commitments as it seeks to leverage regional learnings and its board’s networks for new exploration and early-stage mining opportunities.
Golden State Mining Limited has called a General Meeting of shareholders for 19 February 2026 in West Perth, with the notice of meeting and explanatory memorandum made available electronically via the company’s website and the ASX platform. The company is encouraging shareholders to participate either in person or by lodging proxy votes online or through its share registry by 17 February, and is promoting digital communications to reduce costs and environmental impact by urging investors to update their email and communication preferences with the registry.
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.