Hamelin Gold Limited (HMG) AI Stock Analysis

• Market Cap: AU$12.49M
• Dividend Yield: N/A
• Average Volume (3M): 321.61K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.53
• Revenue Growth: N/A
• EPS Growth: -421.43%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): -0.02
• Shares Outstanding: 198,303,570
• 10 Day Avg. Volume: 338,602
• 30 Day Avg. Volume: 321,614
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.57
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -16.30
• 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$0.06 ▲(5.00% Upside)

The score is held down primarily by weak financial performance (minimal revenue, larger losses, and continued cash burn) despite low balance-sheet leverage. Technicals also lean bearish with price below key moving averages and weak momentum readings, while valuation offers limited support due to negative earnings and no dividend yield data.

Positive Factors

Low Financial Leverage

A near-zero debt profile materially reduces financial risk and interest burden, giving management flexibility to pursue exploration without heavy fixed financing costs. Over 2–6 months this conservatism supports survival through drilling cycles and limits creditor pressure on strategic choices.

Exploration-Focused Business Model

A pure exploration model concentrates capital on value-driving activities: discovery and resource definition. If exploration success occurs, the company can scale via development or monetization transactions. Structurally this model offers high upside from successful wells while keeping operating complexity low.

Reduced Free Cash Outflow in 2025

A marked reduction in free cash outflow signals better cash discipline or lower capital intensity, which can materially extend runway and reduce near-term financing needs. Persisting this trend over months would improve sustainability of exploration programs and lessen dilution risk.

Negative Factors

Pre-Revenue and Deepening Losses

Sustained pre-revenue status with sharply widening annual losses is a structural constraint: it depletes capital, forces recurring financing, and prevents internal funding of growth. Over months this undermines ability to convert exploration into funded development without dilution or strategic exits.

Consistent Operating Cash Burn

Repeated negative operating cash flow demonstrates weak cash generation and persistent reliance on external capital. This structural cash burn increases funding risk over a multi-month horizon and constrains options for sustained drilling or scaling without new equity or asset sales.

Equity Erosion and Negative Returns

Declining equity coupled with deteriorating ROE indicates capital is being consumed without generating returns. Structurally this signals dilution risk or asset drawdown to fund operations, weakening investor capital preservation and limiting long-term capacity to attract patient funding.

Hamelin Gold Limited Business Overview & Revenue Model

Company Description

Hamelin Gold Limited operates as a mineral exploration company in the Western Tanami region of Western Australia. It holds 100% interest in the West Tanami project covering 2,277 square kilometers of gold province located in Western Australia. The company was incorporated in 2021 and is based in Subiaco, Australia.It is a subsidiary of Encounter Resources Limited

How the Company Makes Money

Hamelin Gold Limited generates revenue through the exploration and eventual development of gold mining projects. The company's primary revenue stream comes from the successful discovery and quantification of economically viable gold resources, which can be monetized through partnerships, joint ventures, or outright sales to larger mining companies. Additionally, HMG may also earn revenue through the issuance of shares or securities to raise capital for exploration activities. The success of its operations heavily relies on the company's ability to identify promising mining sites and efficiently develop them into profitable ventures.

Hamelin Gold Limited Financial Statement Overview

Summary

Income statement is weak with essentially no revenue and widening losses in the latest year; cash flow remains negative with ongoing operating cash burn despite improved free cash outflow in 2025. Balance sheet strength (effectively no debt) partially offsets risk, but equity erosion and deteriorating returns highlight continued funding dependence.

Income Statement

Results remain pre-revenue with essentially no sales across 2022–2025 (annual), and losses have widened materially in the latest year (net loss of ~7.3M in 2025 vs ~1.3M in 2024). Profitability is structurally weak with negative gross profit and deeply negative operating earnings, which is common for early-stage explorers but still a clear earnings risk. A modest positive is that reported revenue was immaterial/one-off (2023), so the core issue is cost intensity rather than collapsing sales.

Balance Sheet

The balance sheet is conservatively financed with effectively no debt in recent years (total debt at 0 from 2022–2025), reducing financial risk and interest burden. Equity remains sizable (~18.9M in 2025), but it has trended down from prior years, consistent with ongoing losses and potential dilution/asset drawdowns. Returns on equity are negative and deteriorated sharply in 2025, highlighting that while leverage is low, capital is not currently generating profits.

Cash Flow

Cash generation is weak with negative operating cash flow in each of 2022–2025, indicating ongoing cash burn to fund operations. Free cash flow is also negative, though the magnitude improved significantly in 2025 (about -0.7M) versus very large outflows in 2023–2024, suggesting some cost/investment moderation. Overall, the company still relies on external funding to sustain activities until it can progress toward revenue-generating operations.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	5.08K	0.00	0.00
Gross Profit	-108.06K	-108.06K	-146.63K	-88.22K	-15.00K	0.00
EBITDA	-7.16M	-7.16M	-1.18M	-901.05K	-1.28M	0.00
Net Income	-7.27M	-7.27M	-1.33M	-994.35K	-1.30M	-7.92K
Balance Sheet
Total Assets	19.34M	19.34M	23.75M	24.93M	21.58M	21.32M
Cash, Cash Equivalents and Short-Term Investments	4.94M	4.94M	4.96M	7.75M	7.16M	9.19M
Total Debt	0.00	0.00	0.00	0.00	0.00	66.88K
Total Liabilities	458.38K	458.38K	489.13K	442.30K	903.84K	182.73K
Stockholders Equity	18.89M	18.89M	23.26M	24.49M	20.68M	21.14M
Cash Flow
Free Cash Flow	-1.94M	-662.30K	-3.87M	-4.63M	-2.15M	0.00
Operating Cash Flow	-662.30K	-662.30K	-561.38K	-629.06K	-404.09K	0.00
Investing Cash Flow	-2.03M	-2.03M	-2.21M	-3.41M	-1.68M	0.00
Financing Cash Flow	2.67M	2.67M	-11.43K	4.62M	9.20M	0.00

Hamelin Gold Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.06
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:HMG, the sentiment is Negative. The current price of 0.06 is below the 20-day moving average (MA) of 0.07, below the 50-day MA of 0.06, and below the 200-day MA of 0.07, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 36.84 is Neutral, neither overbought nor oversold. The STOCH value of -30.54 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:HMG.

Hamelin Gold 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%
TRE	51 Neutral	AU$13.01M	-13.14	-125.80%	―	―	―
NAG	47 Neutral	AU$18.18M	-8.26	-12.69%	―	12.08%	46.51%
HMG	45 Neutral	AU$12.49M	-1.44	-34.50%	―	―	-421.43%
REZ	45 Neutral	AU$14.65M	-5.00	-25.75%	―	―	-33.33%
AHK	40 Underperform	AU$36.85M	-23.83	-18.96%	―	―	1.38%

Hamelin Gold Limited Corporate Events

Hamelin Gold Ramps Up Multi-Province WA Exploration Ahead of 2026 Drilling Campaign

Hamelin Gold is advancing exploration across three key Western Australian gold provinces, with work during the December 2025 quarter centred on building drill targets and preparing follow-up programs at its Venus, West Tanami and Day Dawn projects. At the Venus Project in the Murchison’s resurgent +15Moz goldfield, the company is running airborne magnetic and radiometric surveys and phase-two geochemical sampling over largely underexplored, lake-covered tenure to refine targets ahead of follow-up drilling at the high-grade Magellan prospect; in the Tanami, it is planning drilling to test a +1 g/t gold, 400-metre corridor at Fremlins South and a broad granitoid-hosted system at Jazz, while in the Paterson Province it expects the Day Dawn tenement to be granted by April–May 2026 with initial drilling slated for mid-2026, all supported by cash reserves of about $3.6 million at the end of December 2025.

The most recent analyst rating on (AU:HMG) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Hamelin Gold Limited stock, see the AU:HMG Stock Forecast page.

Hamelin Gold Accelerates Exploration at Venus Project in Murchison Goldfield

Hamelin Gold has announced the commencement of a detailed airborne magnetic survey over the southern half of its Venus Gold Project in the Murchison gold district, alongside a second phase of geochemical soil sampling scheduled for completion in February. Initial broad-spaced geochemical sampling has mapped a six-kilometre extension of the geological sequence that hosts the Comet Gold Mine, and the compilation of historical drilling data has outlined high-grade gold mineralisation at the newly named Magellan prospect, including a best historical intercept of 5 metres at 2.95 g/t gold from 100 metres. Management says these baseline geophysical and geochemical datasets, together with historical data integration, will underpin the company’s 2026 drilling programs and position the Venus project as a key exploration focus, potentially enhancing Hamelin’s growth prospects and strategic footprint in the resurgent Murchison goldfield.

The most recent analyst rating on (AU:HMG) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Hamelin Gold Limited stock, see the AU:HMG Stock Forecast page.

Hamelin Gold Expands Exploration at Venus Project

Hamelin Gold Limited has announced the grant of a second exploration license and the commencement of exploration activities at its Venus Gold Project in the Murchison gold district. This expansion makes Hamelin one of the largest tenement holders in the Cue region, covering key gold corridors and unexplored areas. The initial exploration includes soil sampling and plans for aeromagnetic and heritage surveys, marking a significant milestone for the company and potentially enhancing its industry positioning.

Hamelin Gold Announces Director Interest Changes Post-AGM

Hamelin Gold Limited announced a change in director interest following the issuance of options approved at the company’s annual general meeting. This development could impact the company’s governance and strategic direction, potentially influencing its exploration activities and stakeholder confidence.

Hamelin Gold Issues Unlisted Options as Part of Employee Incentive Scheme

Hamelin Gold Limited announced the issuance of 2,700,000 unlisted options, exercisable at $0.102 and expiring on November 27, 2029. This move is part of an employee incentive scheme and is not intended for public trading on the ASX, potentially enhancing employee engagement and aligning their interests with the company’s long-term growth objectives.

Hamelin Gold Limited Issues New Unlisted Options to Bolster Operations

Hamelin Gold Limited has announced the issuance of 3,818,445 unlisted options, exercisable at $0.102 and expiring on November 27, 2029. This issuance is part of the company’s strategy to strengthen its financial position and support its ongoing exploration and development activities, potentially impacting its operational capabilities and stakeholder interests.

Hamelin Gold Limited Secures Shareholder Approval for Strategic Resolutions

Hamelin Gold Limited announced the successful passing of all resolutions during its Annual General Meeting, including the approval of a special resolution and the re-election of director Mr. Will Robinson. This outcome reflects strong shareholder support and positions the company to continue its strategic initiatives, such as expanding its placement capacity and granting incentive options to key directors, which could enhance its operational capabilities and market presence.

Hamelin Gold Limited Releases Exploration Results

Hamelin Gold Limited has released a presentation regarding its exploration results, which are based on the work of Mr. Peter Bewick, a competent person in the field. The company confirms that there is no new information that materially affects previous announcements, and the context of the findings remains unchanged. This announcement reflects Hamelin’s ongoing efforts to solidify its position in the gold mining industry, potentially impacting its operations and stakeholders.

Hamelin Gold Extends Mineralization at West Tanami Project

Hamelin Gold Limited has announced successful extensions of shallow gold mineralization at its West Tanami Project in Western Australia. The aircore drilling at South Fremlins has extended the gold footprint over a 400-meter strike length, while the Jazz Prospect has revealed a 500-meter long mineralized trend. These developments suggest potential for high-grade gold shoots and indicate a promising future for the company’s exploration efforts, with further drilling planned for 2026.