Helix Resources Limited (HLX) AI Stock Analysis

• Market Cap: AU$8.02M
• Dividend Yield: N/A
• Average Volume (3M): N/A
• Price to Earnings (P/E): ―
• Beta (1Y): 2.87
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 7
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): 0.00
• Shares Outstanding: 5,346,290,500
• 10 Day Avg. Volume: N/A
• 30 Day Avg. Volume: N/A
• PEG Ratio: 0.25
• Price to Book (P/B): 0.40
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -5.91
• 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: 45 Neutral
• Price Target: AU$0.01 ▲(150.00% Upside)

The score is primarily driven by weak financial performance—revenue falling to zero, recurring losses, and persistent negative operating/free cash flow—partially mitigated by a low-debt balance sheet. Technical and valuation inputs are unavailable, so they contribute neutral scores with reduced confidence.

Positive Factors

Balance Sheet Health

Helix Resources' low leverage reduces financial risk, providing stability and flexibility to invest in growth opportunities.

Exploration Initiatives

The exploration program at White Hills, in partnership with Newmont, could unlock significant resource potential, enhancing long-term growth prospects.

Gold Basin Project Potential

The Gold Basin project's favorable test results suggest a viable low-cost operation, positioning it as a key growth driver for Helix Resources.

Negative Factors

Revenue Volatility

The absence of stable revenue streams highlights operational challenges, limiting Helix's ability to fund projects internally and achieve profitability.

Negative Cash Flow

Persistent negative cash flow indicates ongoing financial strain, potentially necessitating external funding to sustain operations and growth initiatives.

Ongoing Losses

Continuous losses reflect structural inefficiencies, challenging Helix's ability to achieve sustainable profitability and return on investment.

Helix Resources Limited Business Overview & Revenue Model

Company Description

Helix Resources Limited engages in the mineral exploration activities in Australia. It explores for copper, gold, iron ore, nickel, cobalt, and other base metals. Its principal projects include the Collerina, the Rochford, and the Meryula projects. Helix Resources Limited was incorporated in 1985 and is headquartered in Subiaco, Australia.

How the Company Makes Money

Helix Resources Limited generates revenue primarily through the exploration and potential extraction of mineral resources, such as copper and gold. The company's revenue model is centered around identifying promising exploration targets, conducting detailed geological surveys, and advancing these projects to attract investment or potential sale to larger mining entities. Revenue streams may include joint ventures or partnerships with other mining companies, which can provide financial backing or technological support in exchange for a stake in the project. Additionally, Helix Resources may earn income through the sale or optioning of its exploration tenements to other interested parties in the mining industry. The company's earnings can be significantly influenced by the fluctuating market prices of copper and gold, as well as the success of its exploration activities in discovering commercially viable mineral deposits.

Helix Resources Limited Financial Statement Overview

Summary

Income statement and cash flow are very weak: revenue is small and volatile with the latest year dropping to zero, losses persist, and operating/free cash flow are negative across all periods. The main offset is a comparatively strong balance sheet with very low leverage, but ongoing losses and cash burn materially reduce the financial performance score.

Income Statement

Revenue is very small and volatile, and the latest year (2025-06-30) shows revenue falling to zero (down 100% year-over-year). Profitability is consistently weak with recurring net losses each year, including a larger loss in 2025 versus 2024. While gross profit was strong in some prior years (high gross margin in 2023–2024), the business still runs at a meaningful operating loss, indicating cost structure and scale remain major challenges.

Balance Sheet

The balance sheet is a relative strength: debt is very low versus equity (debt-to-equity around ~1–2% in recent years), suggesting limited leverage risk. Total assets are broadly supported by a sizable equity base. The key weakness is persistent negative returns on equity driven by ongoing losses, meaning the company is not currently generating attractive returns on its capital despite the conservative capital structure.

Cash Flow

Cash generation is weak with operating cash flow negative every year presented, and free cash flow also consistently negative. Free cash flow volatility is notable (very large outflows in 2023–2024, improving in 2025 but still negative), which raises funding and sustainability risk over time. Cash burn broadly aligns with the net losses, indicating limited internal funding capacity until profitability improves.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	40.61K	0.00	139.03K	292.95K	70.77K	201.34K
Gross Profit	39.66K	-1.91K	139.03K	292.95K	-46.52K	147.08K
EBITDA	-1.21M	-1.55M	5.54M	-7.86M	-1.83M	-768.00K
Net Income	-1.58M	-1.58M	-1.18M	-7.91M	-2.16M	-1.17M
Balance Sheet
Total Assets	20.55M	20.55M	21.88M	20.76M	28.49M	18.15M
Cash, Cash Equivalents and Short-Term Investments	243.65K	243.65K	2.74M	5.87M	11.96M	5.39M
Total Debt	218.87K	218.87K	336.94K	458.23K	549.00K	20.52K
Total Liabilities	439.36K	439.36K	609.41K	934.61K	932.58K	844.30K
Stockholders Equity	20.11M	20.11M	21.27M	19.83M	27.56M	17.30M
Cash Flow
Free Cash Flow	-2.47M	-1.35M	-5.61M	-7.57M	-5.51M	-3.21M
Operating Cash Flow	-1.35M	-1.35M	-1.06M	-1.07M	-1.48M	-1.10M
Investing Cash Flow	-1.65M	-1.65M	-4.57M	-5.01M	-3.59M	-2.13M
Financing Cash Flow	495.85K	495.85K	2.50M	-10.06K	11.64M	8.47M

Helix Resources 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%
BMG	53 Neutral	AU$25.69M	-17.14	-7.48%	―	―	87.39%
SVY	49 Neutral	AU$11.64M	-2.22	-56.10%	―	―	44.90%
AON	46 Neutral	AU$27.85M	-5.45	-41.95%	―	―	-17.02%
EEL	46 Neutral	AU$5.28M	―	-76.38%	―	―	―
HLX	45 Neutral	AU$8.02M	―	-7.78%	―	―	―
EM2	45 Neutral	AU$15.39M	-0.35	―	―	―	-80.38%

Helix Resources Limited Corporate Events

Helix Advances Geophysics at Arizona White Hills to Refine Copper-Gold Drill Targets

Helix Resources has largely completed a suite of geophysical and field programs at its White Hills Copper-Gold Project in northern Arizona, including passive seismic Ambient Noise Tomography, Controlled-Source Audio-Magnetotellurics surveys and expanded geological mapping and sampling over a large copper-gold soil anomaly with high-grade rock chip results. The company is now integrating these new datasets with historical drilling and existing geophysics, in collaboration with Fleet Space and under the framework of its Newmont joint venture, to build a consolidated subsurface model that will rank and refine drill targets for a follow-up drilling campaign planned for early 2026, aiming to better define the scale and geometry of mineralised intrusive bodies and gold-bearing detachment structures and thereby sharpen future exploration spending and value prospects for stakeholders.

The most recent analyst rating on (AU:HLX) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Helix Resources Limited stock, see the AU:HLX Stock Forecast page.

Helix Resources Director Adjusts Option Holdings as Lapsed Securities Disclosed

Helix Resources Limited has disclosed a change in director Kylie Prendergast’s indirect interests, lodged via an Appendix 3Y notice to the ASX. Through her associated entity KAJE Holdings Pty Ltd, Prendergast allowed 2.4 million options—exercisable at $0.036, $0.063 and $0.081 and expiring on 20 December 2025—to lapse without consideration, resulting in a reduction of her option holdings but no change to her substantial shareholding or performance rights. The update slightly simplifies the director’s equity exposure while leaving her core share and performance rights position in the company unchanged, and represents routine governance disclosure under ASX rules rather than a shift in Helix’s operational or strategic direction.

Helix Resources Options Lapse Without Exercise, Leaving Capital Structure Unchanged

Helix Resources Limited has reported the expiry of a series of listed options on its share register, as disclosed in an Appendix 3H filing with the ASX. A total of 2.4 million options across three separate series, all due to expire on 20 December 2025 with exercise prices ranging from $0.036 to $0.081, have lapsed unexercised, resulting in no new shares being issued and leaving the company’s issued capital structure unchanged, which may signal limited current market appetite to convert these options at their respective strike prices.

Helix Resources Announces Director’s Interest Change

Helix Resources Limited has announced a change in the director’s interest, specifically involving Kylie Prendergast, who has altered her indirect interest in the company through KAJE Holdings Pty Ltd. This change includes the acquisition of 175,000,000 performance rights and the disposal of 21,600,000 incentive options across Class D, E, and F. This adjustment in holdings may impact the company’s governance and stakeholder confidence, reflecting strategic shifts in director engagement with the company’s securities.

Helix Resources Announces Director’s Interest Change

Helix Resources Limited announced a change in the director’s interest, with Michael George Frederick Povey acquiring 175,000,000 performance rights following shareholder approval at the 2025 Annual General Meeting. This change reflects strategic moves within the company’s governance structure, potentially impacting its operational dynamics and signaling confidence in its future prospects.

Helix Resources Issues New Performance Rights to Employees

Helix Resources Limited announced the issuance of 700,000,000 new performance rights under an employee incentive scheme. These securities are unquoted and subject to transfer restrictions, reflecting the company’s strategy to motivate and retain employees while aligning their interests with corporate goals.

Helix Resources Limited Announces Cessation of Securities

Helix Resources Limited announced the cessation of certain securities, specifically 26,370,000 employee incentives and 21,600,000 director performance incentives, which were canceled by agreement between the entity and the holders. This move may impact the company’s capital structure and could influence its financial strategies and stakeholder relations moving forward.

Helix Resources Launches Exploration at White Hills Project in Arizona

Helix Resources Limited has initiated an exploration program at its White Hills Copper-Gold Project in Northern Arizona. The program aims to refine geological interpretations and assess the potential scale of copper-gold mineralization. This initiative is part of a joint venture with Newmont, designed to meet expenditure requirements and enhance the geological model of the area. The project is strategically located within two metallogenic belts, offering promising prospects for porphyry copper and gold systems.

Helix Resources Limited Announces Quotation of 12 Million Securities

Helix Resources Limited has announced the application for quotation of 12 million securities, which are options expiring on September 10, 2027. This move is part of previously announced transactions and could impact the company’s financial strategy and market presence by potentially increasing its capital and investor interest.

Helix Resources Secures Shareholder Approval at 2025 AGM

Helix Resources Limited held its 2025 Annual General Meeting, where all resolutions were passed by poll, in line with corporate governance recommendations. Key resolutions included the approval of the remuneration report, election and re-election of directors, and ratification of share placements, indicating solid support from shareholders for the company’s strategic direction.

Helix Resources Advances Exploration with New Drilling and Strategic Evaluations

Helix Resources Limited announced several key developments in its quarterly activities report for September 2025. The company plans to commence drilling at the White Hills Gold project in the December 2025 quarter, targeting porphyry copper and gold. An updated resource estimate is underway for the Gold Basin project, which currently holds an inferred resource of 299,800 ounces of gold. Helix is also re-evaluating its strategic options for its nickel, cobalt, and scandium properties in New South Wales. Additionally, the company successfully completed a $2 million rights issue and placement, and fieldwork is set to begin at the Cobar Muriel Tank gold project. These activities indicate Helix’s strategic focus on expanding its exploration efforts and optimizing its resource portfolio.