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Iceni Gold Ltd. (AU:ICL)
ASX:ICL
Australian Market

Iceni Gold Ltd. (ICL) AI Stock Analysis

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AU:ICL

Iceni Gold Ltd.

(Sydney:ICL)

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Neutral 49 (OpenAI - 5.2)
Rating:49Neutral
Price Target:
AU$0.07
▲(16.67% Upside)
The score is primarily held back by weak financial performance driven by widening losses and ongoing cash burn, despite revenue growth. Technicals provide modest support with price trading above key moving averages, but valuation remains challenged due to negative earnings and no dividend yield data.
Positive Factors
Strong Balance Sheet
A strong balance sheet with no debt provides Iceni Gold with financial stability and flexibility, allowing it to focus on exploration without the burden of debt repayment.
Exploration Progress
Continued exploration progress at key sites like Guyer Trend indicates potential for future resource development, enhancing Iceni Gold's position in the gold exploration sector.
Director Confidence
Increased shareholding by directors signals confidence in Iceni Gold's future prospects, potentially boosting investor trust and market perception.
Negative Factors
Cash Flow Challenges
Negative cash flow indicates ongoing cash burn, necessitating external funding and potentially limiting Iceni Gold's ability to sustain operations without new capital.
Widening Losses
Widening losses and negative margins highlight profitability challenges, which could pressure Iceni Gold's financial health and investor confidence if not addressed.
Limited Revenue Base
A limited revenue base with high costs suggests Iceni Gold's operations are not yet self-sustaining, posing risks to long-term viability without significant revenue growth.

Iceni Gold Ltd. (ICL) vs. iShares MSCI Australia ETF (EWA)

Iceni Gold Ltd. Business Overview & Revenue Model

Company DescriptionIceni Gold Limited focuses on acquiring, exploring, and developing gold projects. Its principal property is the 14 Mile Well project that consists of 7 prospect areas comprising a tenement package of 850 square kilometers located in the Eastern Goldfields Province of the Yilgarn Craton in Western Australia. The company was incorporated in 2020 and is based in West Perth, Australia.
How the Company Makes MoneyIceni Gold Ltd. generates revenue primarily through the exploration and potential development of gold resources. The company's revenue model is centered around discovering economically viable gold deposits, which can then be sold, joint ventured, or developed into mining operations. Key revenue streams include capital raised from investors for exploration activities and potential revenue from selling or partnering on successful gold projects. The company may also benefit from partnerships with other mining companies to share the costs and risks associated with exploration. Additionally, Iceni Gold could generate income from any future gold production if exploration leads to the establishment of a mining operation.

Iceni Gold Ltd. Financial Statement Overview

Summary
Iceni Gold Ltd. is in a growth phase with increasing revenue but continues to face profitability challenges as reflected in its margins. The balance sheet is robust with low debt levels, but cash flow management remains a concern due to reliance on external financing. The company needs to focus on improving operational efficiency and profitability to enhance financial health.
Income Statement
Iceni Gold Ltd. has shown a significant improvement in revenue, moving from zero to $142,200, indicating growth potential. However, the gross profit margin is 100% due to the absence of cost of goods sold, but the company remains unprofitable with a net loss, resulting in a negative net profit margin. EBIT and EBITDA margins are negative, reflecting ongoing operational challenges.
Balance Sheet
The company maintains a strong equity base with a high equity ratio of 97%, suggesting financial stability. The debt-to-equity ratio is low at 0.009, indicating minimal leverage. However, the return on equity is negative, which underscores the company's current unprofitability and challenges in generating returns for shareholders.
Cash Flow
Operating cash flows are negative, alongside significant negative free cash flow, indicating cash burn in operations and capex. There is, however, a positive inflow from financing activities, suggesting reliance on external funding. The ratios of operating and free cash flows to net income are not favorable, highlighting ongoing cash flow challenges.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue291.24K291.24K142.20K0.000.000.00
Gross Profit291.24K291.24K142.20K-17.12K-4.54K-757.00
EBITDA-3.59M-3.59M-952.35K-1.22M-1.23M-2.38M
Net Income-3.49M-3.49M-230.02K-1.30M-1.32M-2.39M
Balance Sheet
Total Assets30.85M30.85M28.32M24.96M27.33M25.25M
Cash, Cash Equivalents and Short-Term Investments4.35M4.35M3.45M1.16M7.95M17.52M
Total Debt0.000.00247.12K823.36K1.51M423.39K
Total Liabilities1.29M1.29M858.45K1.34M2.41M1.04M
Stockholders Equity29.56M29.56M27.46M23.62M24.92M24.21M
Cash Flow
Free Cash Flow-7.79M-7.79M-3.11M-6.03M-12.68M-3.95M
Operating Cash Flow-1.38M-1.38M-502.23K-1.14M-1.30M-1.24M
Investing Cash Flow-2.82M-2.82M-458.96K-4.97M-11.38M-2.86M
Financing Cash Flow5.10M5.10M3.25M-684.86K3.11M21.47M

Iceni Gold Ltd. Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.06
Price Trends
50DMA
0.06
Positive
100DMA
0.06
Positive
200DMA
0.06
Positive
Market Momentum
MACD
<0.01
Positive
RSI
55.82
Neutral
STOCH
-11.11
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:ICL, the sentiment is Positive. 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 0.06, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 55.82 is Neutral, neither overbought nor oversold. The STOCH value of -11.11 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:ICL.

Iceni Gold Ltd. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
53
Neutral
AU$58.33M-14.60-184.34%40.17%
49
Neutral
AU$24.07M-6.54-12.25%-791.67%
49
Neutral
AU$38.12M-13.08-19.04%-4.00%
47
Neutral
AU$24.13M-6.54-77.71%
45
Neutral
AU$51.99M-8.18-20.41%400.00%21.71%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:ICL
Iceni Gold Ltd.
0.07
>-0.01
-12.50%
AU:ODY
Odyssey Gold Limited
0.03
0.02
78.95%
AU:WGR
Western Gold Resources Ltd.
0.20
0.16
400.00%
AU:MVL
Marvel Gold Ltd.
0.02
<0.01
70.00%
AU:KZR
Kalamazoo Resources Ltd.
0.18
0.10
125.00%

Iceni Gold Ltd. Corporate Events

Iceni Gold Advances Exploration Projects at Guyer and Welcome Creek
Dec 17, 2025

Iceni Gold Limited has completed a diamond drilling program at the Guyer Trend within its 14 Mile Well Gold Project and is advancing another deep diamond drillhole at Welcome Creek. The Guyer drilling targeted high-priority gold mineralisation areas, while Welcome Creek aims to uncover a possible IOCG system through a challenging 1,500m deep drill core. These efforts underscore Iceni’s commitment to advancing exploration models and positioning itself as a leading player in discovering new mineral deposits.

Iceni Gold Launches Follow-Up Drilling at 14 Mile Well Project
Dec 2, 2025

Iceni Gold Limited has commenced a follow-up diamond drilling program at the Guyer site within its 14 Mile Well Gold Project. This initiative aims to evaluate high-priority targets identified in previous drilling campaigns, with significant gold intercepts already reported. The program is expected to refine the understanding of mineralized zones and set the foundation for future resource-focused work, potentially enhancing the company’s position in the gold mining sector.

Iceni Gold Announces Expiration of Quoted Options
Dec 2, 2025

Iceni Gold Limited has announced the expiration of its quoted options, which are exercisable at $0.105, set to expire on 29 December 2025. Option holders have the choice to exercise, sell, or let their options lapse, with the current market price of shares being lower than the exercise price, potentially impacting the decision-making of stakeholders.

Iceni Gold Ltd. Advances Exploration with Promising Gold Discoveries
Nov 26, 2025

Iceni Gold Ltd. has released information regarding its ongoing exploration activities, highlighting significant progress in identifying high-grade gold intersections at various sites, including the Guyer Gold Trend. The announcement underscores the company’s strategic focus on expanding its gold resource base, which could enhance its market position and offer potential value to stakeholders.

Iceni Gold Ltd. Reports Significant Gold Exploration Progress
Nov 20, 2025

Iceni Gold Ltd., a company listed on the Australian Securities Exchange under the ticker ASX:ICL, has released a document for informational purposes regarding its recent activities. The company has been actively involved in gold exploration, with recent drilling programs highlighting significant gold intersections at the Guyer Gold Trend. These developments suggest a strengthening of the gold system in the area, potentially enhancing the company’s operational focus and positioning within the gold exploration industry.

Iceni Gold Ltd. Issues New Unquoted Equity Securities
Nov 12, 2025

Iceni Gold Ltd. announced the issuance of 3,772,000 unquoted equity securities in the form of options exercisable at $0.10 each, expiring on November 11, 2028. This move is part of an employee incentive scheme, potentially enhancing employee engagement and aligning their interests with the company’s long-term goals, which may positively impact its operational efficiency and market positioning.

Iceni Gold Director Increases Shareholding
Nov 10, 2025

Iceni Gold Limited announced a change in the interest of its director, Brian Rodan, who acquired 26,525 fully paid ordinary shares through an on-market purchase. This acquisition increases Rodan’s total holdings to 89,393,937 shares, along with various unquoted options. The transaction reflects a modest increase in director holdings, potentially signaling confidence in the company’s prospects.

Iceni Gold Director Increases Stake with Share Acquisition
Nov 7, 2025

Iceni Gold Limited announced a change in the director’s interest, with Wade Johnson acquiring an additional 175,000 fully paid ordinary shares through an on-market purchase, increasing his total shareholding to 1,688,333 shares. This acquisition reflects a strategic move by the director to increase his stake in the company, potentially signaling confidence in the company’s future prospects and stability, which could positively impact stakeholder perceptions and market positioning.

Iceni Gold Director Increases Stake, Signaling Confidence in Future Prospects
Nov 7, 2025

Iceni Gold Ltd. has announced a change in the director’s interest, specifically regarding Brian Rodan, who acquired 320,475 shares through an on-market purchase. This acquisition reflects a strategic move to strengthen his position within the company, potentially signaling confidence in the company’s future prospects and impacting shareholder perception positively.

Iceni Gold Reports Promising Exploration Results at 14 Mile Well Project
Oct 27, 2025

Iceni Gold Limited reported a productive quarter with significant exploration activities at its 14 Mile Well Gold Project, particularly in the Guyer Farm-In area with Gold Fields Limited. The exploration revealed promising results, including two distinct styles of gold mineralization and new trends, indicating a large and expanding gold system. The company plans to prioritize follow-up work on these findings. As of September 2025, Iceni Gold holds $2.57 million in cash reserves and no debt, positioning it well for continued exploration efforts.

Iceni Gold Ltd. Announces Details for Upcoming Annual General Meeting
Oct 24, 2025

Iceni Gold Ltd. has announced the details of its upcoming Annual General Meeting of shareholders, scheduled for November 26, 2025, in West Perth, WA. Shareholders are encouraged to participate in the voting process either by proxy or in person, with all voting to be conducted on a poll. The company is also promoting electronic communications to enhance efficiency and reduce costs.

Iceni Gold Unveils Promising Results from Guyer Drilling Program
Oct 17, 2025

Iceni Gold Limited has announced the final results from a significant drilling program at the Guyer site within their 14 Mile Well Gold Project. The results indicate the presence of a large, multi-style gold system, with two distinct mineralisation styles identified: granite-hosted and basalt-hosted. The findings suggest a significant potential for gold exploration, encouraging further drilling to expand on these promising results. This development strengthens Iceni’s position in the gold exploration sector and could have positive implications for stakeholders, as it highlights the project’s potential for substantial gold resources.

Iceni Gold Director Increases Stake with New Share Acquisition
Oct 9, 2025

Iceni Gold Limited announced a change in the director’s interest, with Brian Rodan acquiring 333,333 shares and 166,666 options, increasing his total holdings. This change, approved by shareholders, reflects ongoing strategic adjustments in the company’s leadership and could influence investor confidence and market perception.

Iceni Gold Ltd. Issues Shares Under Corporations Act Compliance
Oct 7, 2025

Iceni Gold Ltd. has announced the issuance of fully paid ordinary shares without a disclosure document under the Corporations Act, ensuring compliance with relevant legal provisions. This move signifies the company’s strategic efforts to streamline its operations and maintain transparency with investors, potentially impacting its market positioning positively.

Iceni Gold Ltd. Issues Unquoted Options
Oct 7, 2025

Iceni Gold Ltd. has announced the issuance of 5,299,998 unquoted options, set to expire on June 18, 2027, with an exercise price of $0.12. This issuance is part of a previously announced transaction and is not intended to be quoted on the ASX, potentially impacting the company’s financial strategy and stakeholder interests by increasing its equity base.

Iceni Gold Ltd. Announces Quotation of New Securities on ASX
Oct 7, 2025

Iceni Gold Ltd. has announced the application for the quotation of 599,998 ordinary fully paid securities on the Australian Securities Exchange (ASX). This move is part of a previously announced transaction, and it signifies the company’s ongoing efforts to expand its financial base and enhance its market presence.

Iceni Gold Unveils Promising Gold Discoveries at Guyer
Oct 2, 2025

Iceni Gold Limited has announced promising results from its 10,842-meter reverse circulation drilling program at the Guyer site, part of its 14 Mile Well Gold Project. The drilling has revealed a new basalt-hosted gold system, with significant intersections indicating high-grade potential. This discovery, located beneath 40 meters of cover, enhances the understanding of the gold system’s scale and potential, prompting the company to plan further drilling. The project is part of a $35 million exploration agreement with Gold Road Resources, which is expected to be acquired by Gold Fields.

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.Date of analysis: Dec 30, 2025