Iceni Gold Ltd. (AU:ICL)
ASX:ICL
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Iceni Gold Ltd.
(Sydney:ICL)
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Rating:45Neutral
Price Target:
AU$0.02
▼(-65.00% Downside)
Action:Reiterated
Date:05/06/26
The score is held down primarily by weak financial quality (widening losses and significant cash burn despite revenue growth) and bearish technicals (price below key moving averages with negative MACD). A low-debt balance sheet offers some support, but valuation is constrained by loss-making earnings and no stated dividend yield.
Positive Factors
Low leverage / strong balance sheet
The company carries effectively no debt and a sizeable equity base relative to assets, providing structural financial flexibility. Low leverage reduces refinancing risk and preserves optionality to fund exploration or strategic moves, supporting multi‑month project execution even if losses continue.
Negative Factors
Deep and persistent cash burn
Operating cash flows are uniformly negative and free cash flow is deeply negative, indicating the business cannot self‑fund exploration or operating needs. Over months this necessitates external capital, increasing dilution risk and limiting the firm's ability to progress projects without raising funds on uncertain terms.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
The company carries effectively no debt and a sizeable equity base relative to assets, providing structural financial flexibility. Low leverage reduces refinancing risk and preserves optionality to fund exploration or strategic moves, supporting multi‑month project execution even if losses continue.
Read all positive factors
Iceni Gold Ltd. (ICL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$10.28M
Dividend YieldN/A
Average Volume (3M)315.75K
Price to Earnings (P/E)―
Beta (1Y)1.73
Revenue GrowthN/A
EPS Growth-36.96%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.01
Shares Outstanding395,484,700
10 Day Avg. Volume272,955
30 Day Avg. Volume315,747
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.61
Price to Sales (P/S)61.44
P/FCF Ratio-2.30
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
Iceni Gold Ltd. Business Overview & Revenue Model
Company Description
Iceni Gold Limited specializes in the acquisition, exploration, and development of gold projects. Its primary asset is the extensive 14 Mile Well project, encompassing a vast 850-square-kilometer tenement package. This project comprises seven dist...
How the Company Makes Money
null...
Iceni Gold Ltd. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 164.80K | 291.24K | 142.20K | 0.00 | 0.00 | 0.00 |
| Gross Profit | 164.78K | 291.24K | 142.20K | -17.12K | -4.54K | -757.00 |
| EBITDA | -3.55M | -3.59M | -952.35K | -1.22M | -1.23M | -2.38M |
| Net Income | -2.15M | -3.49M | -230.02K | -1.30M | -1.32M | -2.39M |
Balance Sheet | ||||||
| Total Assets | 30.76M | 30.85M | 28.32M | 24.96M | 27.33M | 25.25M |
| Cash, Cash Equivalents and Short-Term Investments | 1.57M | 4.35M | 3.45M | 1.16M | 7.95M | 17.52M |
| Total Debt | 14.51K | 0.00 | 247.12K | 823.36K | 1.51M | 423.39K |
| Total Liabilities | 1.11M | 1.29M | 858.45K | 1.34M | 2.41M | 1.04M |
| Stockholders Equity | 29.65M | 29.56M | 27.46M | 23.62M | 24.92M | 24.21M |
Cash Flow | ||||||
| Free Cash Flow | -5.70M | -7.79M | -3.11M | -6.03M | -12.68M | -3.95M |
| Operating Cash Flow | -944.25K | -1.38M | -502.23K | -1.14M | -1.30M | -1.24M |
| Investing Cash Flow | -3.39M | -2.82M | -458.96K | -4.97M | -11.38M | -2.86M |
| Financing Cash Flow | 2.33M | 5.10M | 3.25M | -684.86K | 3.11M | 21.47M |
Iceni Gold Ltd. Technical Analysis
Neutral
0.06
Price Trends
0.02
Positive
0.04
Negative
0.05
Negative
Market Momentum
<0.01
Negative
86.21
Negative
91.67
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:ICL, the sentiment is Neutral. The current price of 0.06 is above the 20-day moving average (MA) of 0.02, above the 50-day MA of 0.02, and above the 200-day MA of 0.05, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 86.21 is Negative, neither overbought nor oversold. The STOCH value of 91.67 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:ICL.
Iceni Gold Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
48 Neutral | AU$49.45M | -9.60 | -35.89% | ― | ― | -69.57% | |
47 Neutral | AU$50.26M | 19.99 | 7.66% | ― | 400.00% | ― | |
45 Neutral | AU$10.28M | -4.16 | -7.27% | ― | ― | -36.96% | |
44 Neutral | AU$22.76M | -6.69 | -78.42% | ― | ― | 46.51% | |
43 Neutral | AU$35.29M | -4.10 | -342.09% | ― | ― | -86.59% |
* Basic Materials Sector Average
AU:ICL
Iceni Gold Ltd.
0.03
-0.03
-56.67%
AU:ODY
Odyssey Gold Limited
0.04
0.02
84.21%
AU:WGR
Western Gold Resources Ltd.
0.12
0.03
33.33%
AU:MVL
Marvel Gold Ltd.
0.02
<0.01
14.29%
AU:KZR
Kalamazoo Resources Ltd.
0.16
0.07
81.82%
Iceni Gold Ltd. Corporate Events
Iceni Gold launches follow-up drilling at Guyer targets
Jun 9, 2026
Iceni Gold has commenced a dual aircore drilling program at the Guyer Farm-In within its 14 Mile Well Gold Project in Western Australia. The 34-hole, 1,800-metre campaign is focused on two key target areas, Guyer West and Sovereign, where previous...
Iceni Gold Director Increases Shareholding Through On-Market Purchase
May 8, 2026
Iceni Gold Ltd. has reported a change in director Brian Rodan’s interests, with his direct and indirect holdings increasing through an on-market purchase. Rodan acquired 1,000,000 fully paid ordinary shares for $25,062, lifting his total sha...
Iceni Gold posts strong quarter with new drill results, Laverton South expansion
Apr 24, 2026
Iceni Gold reported encouraging March-quarter exploration results, highlighted by a 19-hole, 2,000m reverse circulation drilling program at the Goose Well target within 14 Mile Well that delivered several notable gold intercepts and strengthened e...
Iceni Gold Drilling Highlights Exploration Upside at Goose Well Prospect
Apr 14, 2026
Iceni Gold has reported encouraging reverse circulation drilling results from the Goose Well prospect within its 14 Mile Well Gold Project in Western Australia, confirming significant gold intercepts within the Goose Well Intrusive Complex. Minera...
Iceni Gold Completes Maiden Drilling at High-Priority Goose Well Target
Apr 1, 2026
Iceni Gold has completed its maiden reverse circulation drilling program at the high-priority Goose Well target within the 14 Mile Well Gold Project, executing 19 holes for 2,150 metres across two key target areas. The program aims to validate and...
Iceni Gold Confirms Compliance on New Share Issue and ASX Quotation
Mar 30, 2026
Iceni Gold has issued fully paid ordinary shares and applied for their quotation on the ASX, confirming that the shares were issued without a disclosure document under the relevant exemption in the Corporations Act. The company states it is up to ...
Iceni Gold Seeks ASX Quotation for Over 51 Million New Shares
Mar 30, 2026
Iceni Gold Ltd., listed on the ASX under ticker ICL, operates in the resources sector with a focus on gold-related activities. The company is positioned as a gold-focused player targeting investors interested in precious metals exposure.The compan...
Iceni Gold Plans Major Share and Options Issue to Boost Capital Base
Mar 25, 2026
Iceni Gold has lodged a new Appendix 3B with the ASX outlining a proposed issue of securities via a placement or similar capital-raising structure. The company plans to issue up to 58,589,183 fully paid ordinary shares along with two tranches of u...
Iceni Gold Upsizes Capital Raising to Accelerate 14 Mile Well Exploration
Mar 25, 2026
Iceni Gold has increased the size of its recently announced capital raising after securing further support from a large shareholder, lifting total placement commitments to $1.76 million before costs. The upsized funds will be used to accelerate ex...
Iceni Gold Raises $1.55m to Drive WA Exploration and Laverton Tenement Deal
Mar 24, 2026
Iceni Gold has raised $1.55 million in a strongly supported placement to sophisticated, strategic and institutional investors, including backing from major shareholder Gold Fields Australia and the company’s directors. The funds will be used...
Iceni Gold Plans Major Share and Option Issue to Support Exploration Funding
Mar 22, 2026
Iceni Gold Ltd., a gold-focused exploration company listed on the ASX, continues to use equity markets as a key funding avenue for its activities. The company’s operations are capital-intensive, and periodic share and option issues are a com...
Iceni Gold Raises $1.55m and Secures Strategic Laverton South Tenements
Mar 22, 2026
Iceni Gold has raised approximately $1.55 million in a strongly supported share placement to institutional, sophisticated and strategic investors, including major shareholder Gold Fields Australia and company directors, to fund exploration at its ...
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.