Haranga Resources Limited (AU:HAR)
ASX:HAR
Want to see AU:HAR full AI Analyst Report?
Top Page
Haranga Resources Limited
(Sydney:HAR)
Select Model
Select Model
Rating:46Neutral
Price Target:
AU$0.12
▼(-38.50% Downside)
Action:Reiterated
Date:06/04/26
The score is primarily held down by weak financial performance (near-zero revenue, ongoing losses, and worsening cash burn), partially offset by low leverage and a sizable equity base. Technicals are mixed/neutral and valuation is constrained by negative earnings and no stated dividend yield.
Positive Factors
Low leverage / sizable equity base
Reported equity of ~33.0M against debt of ~2.0M yields very low leverage, giving the company durable financial flexibility to fund staged exploration and development. Over 2–6 months this reduces immediate solvency risk, supports negotiating JV terms, and limits refinancing stress.
Negative Factors
High and widening cash burn
Sustained negative operating cash flow and worsening free cash flow force continued reliance on external capital. Over a multi-month horizon this raises the probability of dilutive financing, constrains discretionary exploration spending, and limits runway to reach value-accretive milestones.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / sizable equity base
Reported equity of ~33.0M against debt of ~2.0M yields very low leverage, giving the company durable financial flexibility to fund staged exploration and development. Over 2–6 months this reduces immediate solvency risk, supports negotiating JV terms, and limits refinancing stress.
Read all positive factors
Haranga Resources Limited (HAR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$55.86M
Dividend YieldN/A
Average Volume (3M)4.77M
Price to Earnings (P/E)―
Beta (1Y)1.71
Revenue GrowthN/A
EPS Growth-13.94%
CountryAU
Employees17
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.03
Shares Outstanding446,853,500
10 Day Avg. Volume5,202,916
30 Day Avg. Volume4,768,471
Financial Highlights & Ratios
PEG Ratio-0.41
Price to Book (P/B)1.16
Price to Sales (P/S)0.00
P/FCF Ratio-7.23
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Haranga Resources Limited Business Overview & Revenue Model
Company Description
Operating out of Victoria Park, Australia, Haranga Resources Limited focuses on the exploration and development of gold and uranium assets throughout West Africa. The company's portfolio features multiple gold projects in Cote d'Ivoire and Burkina...
How the Company Makes Money
null...
Haranga Resources Limited Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
58
Neutral
Cash Flow
12
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 6.59K | 9.71K | 0.00 | 0.00 |
| Gross Profit | -51.34K | 6.59K | 9.71K | 0.00 | 0.00 |
| EBITDA | -7.11M | -2.89M | 407.31K | -3.97M | -1.47M |
| Net Income | -6.93M | -2.58M | -3.42M | -7.59M | -1.19M |
Balance Sheet | |||||
| Total Assets | 36.58M | 2.27M | 4.49M | 4.46M | 7.00M |
| Cash, Cash Equivalents and Short-Term Investments | 12.39M | 10.07K | 1.96M | 2.29M | 6.32M |
| Total Debt | 1.99M | 350.00K | 0.00 | 0.00 | 500.00K |
| Total Liabilities | 4.12M | 745.07K | 175.65K | 1.07M | 8.35M |
| Stockholders Equity | 33.00M | 1.89M | 4.39M | 3.26M | -1.35M |
Cash Flow | |||||
| Free Cash Flow | -5.29M | -2.27M | -3.02M | -3.27M | -483.20K |
| Operating Cash Flow | -5.22M | -2.27M | -3.02M | -3.19M | -483.20K |
| Investing Cash Flow | -61.87K | 0.00 | 0.00 | -22.73K | 0.00 |
| Financing Cash Flow | 17.69M | 327.00K | 2.67M | -811.00K | 6.71M |
Haranga Resources Limited Peers Comparison
UnderperformOutperform
Sector (61)
AU:HAR
Haranga Resources Limited
0.13
0.07
131.48%
PTNUF
Platina Resources Limited
0.01
>-0.01
-21.43%
DE:81V
QMines Ltd.
0.03
<0.01
23.81%
AU:CAE
Cannindah Resources Limited
0.04
0.01
63.64%
DE:YM4
Raiden Resources Limited
―
―
―
Haranga Resources Limited Corporate Events
Haranga Resources Cuts 4 Million Lapsed Performance Rights From Capital Structure
Jun 16, 2026
Haranga Resources Limited has reported the lapse of 4,000,000 performance rights, identified under the ASX code HARAX, following the non-satisfaction or incapability of satisfying the conditions attached to those rights. The cessation, effective 1...
Haranga Resources Updates Market on Departure and Holdings of Director Peter Batten
Jun 10, 2026
Haranga Resources Limited has advised that director Peter Batten ceased to be a director of the company on 4 June 2026, in a filing made under ASX listing rule 3.19A.3. The notice records that upon his departure, Batten retained holdings of 3,492,...
Haranga Extends Ibel South Gold Potential With Deep RC Drilling in Senegal
May 29, 2026
Haranga Resources has completed a 3,244-metre reverse circulation drilling program across 19 holes at its Ibel South Gold Project in Senegal, designed to follow up earlier aircore results and surface geochemistry. The campaign expanded testing alo...
Haranga Resources Issues Shares on Conversion of Performance Rights
May 28, 2026
Haranga Resources Limited has issued 1,788,000 fully paid ordinary shares following the conversion of an equivalent number of HARPR6 performance rights, each with a nominal exercise price of $0.0001 and an expiry date of 11 July 2028. The new shar...
Haranga Resources Seeks Quotation for 1.79 Million New Shares on ASX
May 28, 2026
Haranga Resources Limited has applied to the ASX for quotation of 1,788,000 additional ordinary fully paid shares, effective 28 May 2026. The new securities arise from the exercise or conversion of existing options or other convertible instruments...
Haranga shareholders back all AGM resolutions, expand capital flexibility
May 28, 2026
Haranga Resources Limited reported that all resolutions at its Annual General Meeting were passed by poll, including the adoption of the remuneration report and the re-election of directors Michael Davy, Bruce McCracken and Jeremy King. Shareholde...
Haranga Unveils Maiden JORC Resource at Lincoln Gold Project in California
May 25, 2026
Haranga Resources has outlined a maiden JORC-compliant mineral resource for its Lincoln Gold Project, positioning the asset as a rapid-restart, high-grade, multi-million-ounce gold opportunity in California’s renowned Mother Lode belt. The c...
Haranga’s Maiden JORC Resource Lifts Lincoln into High-Grade Gold Developer Ranks
May 25, 2026
Haranga Resources has delivered a maiden JORC-compliant mineral resource estimate for its wholly owned Lincoln Gold Project in California, outlining 2.46 million tonnes at 5.1 grams per tonne for 402,000 ounces of gold across the Lincoln-Comet and...
Haranga Requests Trading Halt Ahead of Maiden Lincoln Gold Resource Update
May 21, 2026
Haranga Resources Limited has requested a trading halt in its securities on the ASX as it prepares to release a maiden JORC Mineral Resource estimate for its Lincoln Gold Project. Trading in the company’s shares is expected to remain suspend...
Haranga drilling confirms high‑grade gold and depth potential at Lincoln
May 4, 2026
Haranga Resources has completed a 3,250m HQ diamond drilling program at its Lincoln-Comet deposit, the first in more than a decade, returning multiple high‑grade gold intercepts that underpin a planned conversion of its existing NI 43‑...
Haranga Advances Lincoln and Ibel South Gold Projects Ahead of Planned Rebrand
Apr 30, 2026
Haranga Resources reported ongoing progress at its 100%-owned Lincoln Gold Project in California, where it has defined a first exploration target at South Spring Hill and continued dewatering works to unlock underground drilling access. The compan...
Haranga Resources Halts Trading Ahead of Lincoln Gold Drilling Results
Apr 30, 2026
Haranga Resources Limited has requested and been granted a trading halt on its securities by the ASX, with the pause in trading to remain in place until either 4 May 2026 or the earlier release of a pending announcement. The halt was sought to ens...
Haranga to Release 70 Million Escrowed Securities in May 2026
Apr 24, 2026
Haranga Resources has notified the market that 70 million HARESC2 securities, issued in July 2025, will be released from voluntary escrow on 1 May 2026. The release of these securities, which are beneficially held by Seduli Holdings (Australia) Lt...
Haranga to Rebrand as American West Gold in Strategic Pivot to U.S. Lincoln Project
Apr 20, 2026
Haranga Resources plans to change its name to American West Gold Ltd as it sharpens its strategic focus on developing the Lincoln Gold Project in California, pending shareholder approval at the next annual meeting and subsequent regulatory and ASX...
Haranga Resources Issues New Shares as Lincoln Gold Drilling Continues
Apr 17, 2026
Haranga Resources Limited has issued 500,000 fully paid ordinary shares following the exercise of an equivalent number of unlisted options at $0.08 each, with the new securities placed without a disclosure document under the relevant Corporations ...
Haranga Resources to List 500,000 New Shares on ASX
Apr 17, 2026
Haranga Resources Limited has applied for quotation on the ASX of 500,000 new ordinary fully paid shares under the code HAR. The shares are to be issued and quoted on 17 April 2026, following the exercise or conversion of existing options or other...
Haranga launches 4,000m RC drilling push at high-grade Ibel South gold project
Apr 16, 2026
Haranga Resources has begun a 4,000-metre Phase 3 reverse circulation drilling campaign at its Ibel South Gold Project in Senegal, following strong aircore drilling and surface geochemical results that defined a high-grade, structurally controlled...
Haranga flags deep mineralisation potential as Lincoln drilling nears completion
Apr 14, 2026
Haranga Resources is nearing completion of a roughly 3,270-metre diamond drilling campaign at its Lincoln Gold Project, targeting conversion of a high-grade non-compliant NI 43-101 resource to a JORC-compliant mineral resource and defining new exp...
Haranga Resources Sets AGM Date and Director Nomination Deadline
Apr 8, 2026
Haranga Resources Limited has scheduled its Annual General Meeting for 28 May 2026 in line with ASX corporate governance requirements. The meeting will consider the re-election of certain directors, marking a routine but important milestone in the...
Haranga launches 4,000m RC drilling push at Senegal’s Ibel South gold project
Apr 1, 2026
Haranga Resources has approved a Phase 3 reverse circulation drilling campaign of about 4,000 metres at its Ibel South Gold Project in southeast Senegal, set to start in early April after receiving all necessary local, environmental and forestry p...
Haranga Resources Files ASX Governance Statement and Appendix 4G
Mar 27, 2026
Haranga Resources Limited has lodged its annual corporate governance statement for the year ended 31 December 2025, confirming it is included in the company’s annual report and current as of 27 March 2026. The accompanying Appendix 4G outlin...
Haranga Releases 2025 Annual Report, Underscoring Governance Structure
Mar 27, 2026
Haranga Resources has released its annual report for the year ended 31 December 2025, outlining its corporate governance framework and key appointments. The report highlights the company’s current board composition, including an executive ch...
Haranga Flags Significant Exploration Target at Lincoln Gold Project
Mar 23, 2026
Haranga Resources has outlined an independent Exploration Target for the South Spring Hill prospect at its Lincoln Gold Project in California, estimating 1.16Mt to 1.64Mt at grades of 5.4g/t to 5.8g/t gold for a conceptual range of 202,000oz to 30...
Haranga Resources Halts Trading Ahead of Lincoln Gold Exploration Target Update
Mar 22, 2026
Haranga Resources Limited has requested a trading halt in its securities on the ASX, effective from the pre-market open on 23 March 2026, as it prepares to release an announcement regarding the definition of an Exploration Target at its Lincoln Go...
Haranga Expands Drilling and Nears JORC Resource Update at Lincoln Gold Project
Mar 18, 2026
Haranga Resources has expanded its HQ diamond drilling campaign at the Lincoln Gold Project to 40 holes totaling about 3,370 metres, with 2,189 metres completed and work now progressing at the XC7 crosscut. Dewatering is expected to reach the XC8 ...
Haranga Resources Announces Managing Director Transition and Interim Leadership Plan
Mar 18, 2026
Haranga Resources has announced that Managing Director Peter Batten will resign after leading the company since September 2023, during which he helped execute its strategy and advance key milestones across its project portfolio. The board emphasis...
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.