Great Southern Mining Limited (GSN) AI Stock Analysis

• Market Cap: AU$41.87M
• Dividend Yield: N/A
• Average Volume (3M): 705.68K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.69
• Revenue Growth: N/A
• EPS Growth: 26.92%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Other Precious Metals
• EPS (TTM): >-0.01
• Shares Outstanding: 996,804,260
• 10 Day Avg. Volume: 765,998
• 30 Day Avg. Volume: 705,681
• PEG Ratio: 0.48
• Price to Book (P/B): 1.72
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -8.95
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 48 Neutral
• Price Target: AU$0.04 ▲(5.00% Upside)

The score is held down primarily by weak financial performance (no revenue, ongoing losses, and persistent negative free cash flow), despite a comparatively solid balance sheet with very low leverage. Technicals are neutral with mild positive momentum, but valuation remains unattractive due to unprofitability and a negative P/E.

Positive Factors

Low leverage / strong balance sheet

Sustained very low leverage materially reduces refinancing and interest-rate risk for an exploration company. It lengthens the operational runway, improves credit optionality for project funding, and supports the capacity to pursue drilling or joint-venture opportunities without heavy debt burdens.

Growing equity base vs 2020–2022

An expanded equity base improves capitalization and lowers immediate solvency risk, giving management more flexibility to fund exploration programs or farm-out negotiations. Over months, stronger equity reduces reliance on short-term debt and supports strategic deal-making.

Signs of improving cash outflow and losses

A reduction in operating cash outflow and narrower net loss suggests early progress in cost control or program optimization. If sustained, lower cash burn can extend runway, reduce future funding frequency, and increase odds that exploration milestones translate to value-accretive transactions.

Negative Factors

No revenue and persistent losses

Absent operating revenue, there is no margin profile or internal cash generation to support growth. Long-term sustainability depends on discovery or external monetisation events; until then the business is dependent on capital markets, which is a structurally higher-risk model for investors.

Consistent negative operating and free cash flow

Persistent negative OCF and FCF indicate ongoing cash burn and the need for repeated external financing. This structural cash deficit increases dilution risk, diverts management attention to fundraising, and limits ability to timely scale exploration or respond to project opportunities.

Negative ROE and dilution risk if funding continues

Meaningfully negative returns on equity signal that capital deployed has not generated shareholder value. Continued funding to sustain operations likely requires equity issuance, which structurally dilutes existing holders and can undermine long-term returns absent a material exploration success or strategic transaction.

Great Southern Mining Limited Business Overview & Revenue Model

Company Description

Great Southern Mining Limited primarily engages in the exploration and evaluation of gold deposits in Australia. The company also explores for silver, nickel, copper, and other minerals. It holds a 100% interest in the Mon Ami gold project, the Cox's Find project, and the Duketon gold project, Southern Star project, and East Laverton project located in Western Australia. The company also holds a 100% interest in the Edinburgh Park project and Mosman project in North Queensland. Great Southern Mining Limited was incorporated in 2011 and is based in Balcatta, Australia.

How the Company Makes Money

Great Southern Mining Limited generates revenue primarily through the exploration and potential development of mineral resources, particularly gold. The company's primary revenue streams include the sale of mineral rights or interests in its exploration projects to larger mining companies, joint venture arrangements, and the eventual production and sale of minerals if commercially viable deposits are established. GSN may also engage in strategic partnerships or alliances to fund exploration activities, sharing the financial risks and rewards with partners. The company's earnings are significantly influenced by factors such as commodity prices, exploration success, market demand for minerals, and regulatory conditions impacting the mining sector.

Great Southern Mining Limited Financial Statement Overview

Summary

Financial performance is weak: the company reports no revenue, remains loss-making, and has persistent negative operating/free cash flow. The balance sheet is a relative strength with very low leverage and higher equity versus earlier years, and losses/cash outflow improved in 2025 versus 2024, but ongoing cash burn implies continued reliance on external funding and dilution risk.

Income Statement

The company has reported no revenue across the periods provided (annual), and losses remain persistent. Net loss improved in the latest year (2025) versus 2024, but operating losses are still substantial, indicating the business has not yet reached a self-sustaining earnings profile. Overall profitability remains weak with no visible margin support given the lack of revenue.

Balance Sheet

The balance sheet is a relative bright spot: leverage is very low (debt-to-equity stayed around ~0.5%–1.2% in 2023–2025, after higher levels in earlier years), and equity has grown versus 2020–2022 levels. However, returns on equity remain meaningfully negative, reflecting ongoing losses and continued value dilution risk if funding needs persist.

Cash Flow

Cash generation is weak, with operating cash flow and free cash flow negative in every year shown, implying continued cash burn. There is some improvement in operating cash outflow in 2025 versus 2024, but free cash flow remains deeply negative and volatility is high (including large swings in free cash flow growth). Overall, the company appears reliant on external funding until it can generate sustainable operating inflows.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-90.24K	-90.24K	-81.56K	-65.56K	-70.00K	-65.44K
EBITDA	-1.63M	-1.59M	-1.83M	-1.87M	-1.74M	-4.48M
Net Income	-780.53K	-1.71M	-1.99M	-1.94M	-1.83M	-4.57M
Balance Sheet
Total Assets	15.04M	15.04M	13.72M	13.26M	11.01M	9.09M
Cash, Cash Equivalents and Short-Term Investments	1.14M	1.14M	1.11M	1.58M	917.83K	1.38M
Total Debt	87.82K	87.82K	155.04K	60.54K	669.75K	301.63K
Total Liabilities	473.19K	473.19K	469.09K	542.66K	1.48M	1.70M
Stockholders Equity	14.57M	14.57M	13.25M	12.71M	9.53M	7.39M
Cash Flow
Free Cash Flow	-605.82K	-2.80M	-2.77M	-3.69M	-4.84M	-4.48M
Operating Cash Flow	-604.83K	-1.13M	-1.30M	-1.59M	-1.73M	-1.29M
Investing Cash Flow	-1.67M	-1.67M	-1.42M	-1.88M	-3.16M	-3.18M
Financing Cash Flow	2.82M	2.82M	2.25M	4.14M	4.42M	2.79M

Great Southern Mining Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.04
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:GSN, the sentiment is Neutral. The current price of 0.04 is below the 20-day moving average (MA) of 0.04, above the 50-day MA of 0.04, and above the 200-day MA of 0.03, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 48.09 is Neutral, neither overbought nor oversold. The STOCH value of 21.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:GSN.

Great Southern Mining Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
HMX	52 Neutral	AU$36.60M	-12.42	-8.32%	―	-100.00%	-146.48%
BMR	52 Neutral	AU$67.23M	-24.62	-16.78%	―	―	-18.92%
LDR	51 Neutral	AU$35.23M	-17.36	-16.69%	―	―	-11.01%
M79	51 Neutral	AU$75.45M	-8.08	-17.78%	―	―	―
GSN	48 Neutral	AU$41.87M	-22.11	-12.26%	―	―	26.92%
FRS	47 Neutral	AU$421.24M	-73.81	-21.63%	―	―	86.21%

Great Southern Mining Limited Corporate Events

Great Southern Mining Confirms Vesting of 7 Million Performance Rights

Great Southern Mining Limited has announced that 7,000,000 performance rights previously granted to certain directors and senior executives have vested and are now capable of being exercised into fully paid ordinary shares before their two-year expiry. Following this vesting, the company’s capital structure consists of 996,804,290 ordinary shares, 83,529,411 unlisted options, 7,000,000 vested performance rights and 27,500,000 unvested performance rights, clarifying potential future dilution and equity alignment incentives for key management and directors.

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

Great Southern Mining Reports Strong Duketon Drilling Results and Secures Exploration Grants

Great Southern Mining Limited reported strong drilling results for the December 2025 quarter, highlighted by completion of an 8,057m air-core program at the Amy Clarke prospect and a 5,234m reverse circulation program at the Golden Boulder prospect within its Duketon Gold Project in Western Australia. Significant gold intercepts from both programs underscore the exploration potential of these prospects, while the company also secured up to A$337,500 in Western Australian government co-funded drilling grants for targets at Duketon and the East Laverton Base Metals project, continued diamond drilling at its Edinburgh Park Project in Queensland, and closed the quarter with A$3.01 million in cash, reinforcing its capacity to advance exploration across its portfolio.

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

Great Southern Mining Advances Early-Stage Drilling at Province-Scale Edinburgh Park JV

Great Southern Mining has reported an exploration update for its Edinburgh Park Project in northern Queensland, where joint venture partner Gold Fields is earning up to a 75% stake through a A$15 million spend. Gold Fields has completed the 2025 field season with six diamond drill holes across three targets, confirming strong quartz-sulphide veining and pervasive hydrothermal alteration at Leichhardt Creek, which supports the potential for large intrusion-related gold systems despite the absence of economic grades to date. Assays from drilling at the Megan Veins and Molongle targets are still pending, while geophysical and geochemical work continues to refine additional prospects. With an induced polarisation anomaly at Mt Dillon slated as the first drilling focus after the wet season in early 2026, the partners emphasise that exploration over the province-scale tenement is still in its early stages, but see the growing pipeline of high-priority targets as strategically important for unlocking a new large-scale gold camp in the region.

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

Great Southern Mining Flags Resource Growth Potential at Mon Ami Gold Project

Great Southern Mining has completed interpretation of results from a 2,146-metre aircore drilling program at its Mon Ami Gold Project in Western Australia, identifying promising gold intercepts north and northwest of the current 55,500-ounce JORC Mineral Resource. The new assay results, including indications of a possible parallel lode and confirmation that mineralisation remains open in several directions and at depth, support the potential for resource growth and reinforce Mon Ami’s appeal as a near-term development opportunity given its advanced permitting status and location near operating and planned gold processing plants.

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

Great Southern Mining Extends Shallow High-Grade Gold at Golden Boulder Discovery

Great Southern Mining has reported further shallow, high-grade gold intercepts from initial reverse circulation drilling at its Golden Boulder discovery within the Duketon Gold Project in Western Australia. Assays from the first 27 holes of a 56-hole program over the northern 650 metres of the 3.7-kilometre Golden Boulder trend have confirmed multiple near-surface mineralised zones, reinforcing confidence in the continuity of mineralisation and the potential to define a maiden resource. The project, located between major deposits owned by Regis Resources and Genesis Minerals, benefits from a favourable structural setting and historical high-grade workings, while the current campaign aims to extend known mineralisation southward and test previously underexplored sections of the trend. Remaining assay results are expected by mid-February, and drilling is scheduled to resume with deeper, government-co-funded diamond holes and further RC work to test both strike and depth extensions, potentially enhancing GSN’s resource base and strategic position in the region.

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

Great Southern Mining Unveils Promising Gold Intercepts at Amy Clarke

Great Southern Mining Limited has announced further high-grade gold intercepts from its aircore drilling at the Amy Clarke prospect within the Duketon Gold Project. The results, which include significant gold mineralization, indicate an emerging discovery that remains open for further exploration. The company plans to continue with Reverse Circulation drilling in early 2026, supported by a strong cash position to maintain exploration momentum.

Great Southern Mining Limited Announces AGM Results

Great Southern Mining Limited announced the results of its Annual General Meeting, confirming that Resolutions 1 to 3 were passed by shareholder votes, while Resolution 4 was withdrawn. The approval of these resolutions, including the re-election of a director and an additional 10% placement facility, underscores the company’s strategic direction and operational stability, which could positively impact its market position and stakeholder confidence.

Great Southern Mining Confirms Shallow Gold at Amy Clarke Prospect

Great Southern Mining Limited has announced the completion of an 8,000-meter air-core drilling program at the Amy Clarke prospect, part of its Duketon Gold Project in Western Australia. The initial assay results from 3,500 meters of drilling have confirmed shallow gold mineralization over a 4.5 km strike, with notable intercepts including 2 meters at 23.9 g/t gold. The results extend the known mineralization and highlight significant gold potential at Amy Clarke. The company plans to conduct further reverse circulation drilling in early 2026 to focus on zones of higher-grade gold anomalism, with additional assays from the current program expected soon. This development positions GSN to enhance its exploration footprint and potentially increase its gold resources, impacting its operations and stakeholder interests.

Perennial Value Management Ceases Substantial Holding in Great Southern Mining

Great Southern Mining Limited has announced that Perennial Value Management Limited has ceased to be a substantial holder in the company. The change in substantial holding was due to multiple sell transactions conducted by HSBC on the market, resulting in the sale of millions of shares over several dates in August, September, and October 2025. This shift in shareholding could impact the company’s market dynamics and stakeholder interests.