Haranga Resources Limited (AU:HAR)
ASX:HAR
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Haranga Resources Limited
(Sydney:HAR)
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Rating:48Neutral
Price Target:
AU$0.14
▼(-28.00% Downside)
Action:ReiteratedDate:04/18/26
The score is held down primarily by weak financial performance—minimal revenue, persistent losses, and accelerating cash burn—despite a relatively strong, low-debt balance sheet. Technicals are mixed-to-slightly positive and provide some support, while valuation is constrained by negative earnings and no indicated dividend yield.
Positive Factors
Low leverage / strong equity base
A large equity base and minimal debt give Haranga financial flexibility to fund exploration cycles without immediate debt servicing pressure. This durable capital structure lowers bankruptcy risk, supports multi-stage project funding, and improves negotiating power with financiers over months-to-years.
Negative Factors
Consistent negative cash generation
Sustained negative operating and free cash flow materially increases external funding needs and shortens runway absent new revenue or financing. Over a medium-term horizon this elevates refinancing and dilution risk, constrains discretionary spending, and limits the company's ability to scale exploration activity.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong equity base
A large equity base and minimal debt give Haranga financial flexibility to fund exploration cycles without immediate debt servicing pressure. This durable capital structure lowers bankruptcy risk, supports multi-stage project funding, and improves negotiating power with financiers over months-to-years.
Read all positive factors
Haranga Resources Limited (HAR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$60.08M
Dividend YieldN/A
Average Volume (3M)4.77M
Price to Earnings (P/E)―
Beta (1Y)1.46
Revenue GrowthN/A
EPS GrowthN/A
CountryAU
Employees17
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.02
Shares Outstanding445,065,460
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
Haranga Resources Limited explores and develops gold and uranium assets in West Africa. The company holds interests in a range of gold projects located in Cote d'Ivoire and Burkina Faso; and a uranium project in Senegal. Haranga Resources Limited ...
How the Company Makes Money
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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 | 0.00 |
| 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
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AU:HAR
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0.02
<0.01
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Cannindah Resources Limited
0.04
>-0.01
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DE:YM4
Raiden Resources Limited
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Haranga Resources Limited Corporate Events
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...
Haranga Issues 40 Million Shares on Performance Rights Conversion Linked to Seduli Acquisition
Feb 2, 2026
Haranga Resources Limited has issued 40 million fully paid ordinary shares following the conversion of 20 million Class A and 20 million Class B performance rights, which formed part of the consideration for its 2025 acquisition of Seduli Holdings...
Haranga Resources Seeks ASX Quotation for 40 Million New Shares
Feb 2, 2026
Haranga Resources Limited has applied to the Australian Securities Exchange for quotation of 40 million new fully paid ordinary shares under its issuer code HAR. The additional shares, issued on 2 February 2026 following the exercise or conversion...
Haranga Converts Performance Rights and Extends Vendor Escrow as Lincoln and Ibel Drilling Advance
Feb 1, 2026
Haranga Resources has converted Class A and Class B Performance Rights tied to its Lincoln Gold Mine acquisition into 40 million fully paid ordinary shares for vendor Seduli, after meeting key milestones that include commencing drilling and valida...
Haranga accelerates Lincoln resource conversion and secures $14m to advance gold portfolio
Jan 29, 2026
Haranga Resources advanced its Lincoln Gold Project in California during the December 2025 quarter, mobilising an underground diamond drill rig to begin converting a historical foreign resource estimate into a JORC-compliant mineral resource, whil...
Haranga Resources Issues Shares on Option Exercise as Lincoln Drilling Progresses
Jan 20, 2026
Haranga Resources has issued 1,924,805 new fully paid ordinary shares following the exercise of an equivalent number of unlisted options at $0.08 each, with the options set to expire in June 2028. The company confirmed the share issue was complete...
Haranga Resources Seeks ASX Quotation for 1.9 Million New Shares
Jan 20, 2026
Haranga Resources Limited has applied to the ASX for quotation of 1,924,805 new fully paid ordinary shares, following the exercise or conversion of existing options or other convertible securities. The additional shares, to be quoted from 20 Janua...
Haranga Advances Drilling at Lincoln Gold Project Amid Weather-Related Delay to JORC Resource
Jan 19, 2026
Haranga Resources has reported steady progress at its Lincoln Gold Project, completing HQ diamond drilling at Cross Cut 3, advancing drilling at Cross Cut 4, and managing short-term dewatering setbacks caused by heavy rainfall that have delayed th...
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.