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Southern Gold Limited
(Sydney:ION)
Southern Gold Limited (ION) vs. iShares MSCI Australia ETF (EWA)
Southern Gold Limited Business Overview & Revenue Model
Southern Gold Limited Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 245.29K | 245.29K | 0.00 | 0.00 | 0.00 |
| Gross Profit | 128.07K | 173.22K | 0.00 | 0.00 | 0.00 |
| EBITDA | -5.63M | -5.63M | -6.05M | -7.92M | -7.48M |
| Net Income | -4.62M | -4.62M | -6.12M | -8.04M | 4.34M |
Balance Sheet | |||||
| Total Assets | 8.99M | 8.99M | 4.99M | 8.61M | 25.11M |
| Cash, Cash Equivalents and Short-Term Investments | 5.87M | 5.87M | 2.76M | 4.21M | 8.00M |
| Total Debt | 0.00 | 0.00 | 19.82K | 33.52K | 124.46K |
| Total Liabilities | 1.54M | 1.54M | 958.23K | 944.33K | 683.92K |
| Stockholders Equity | 7.45M | 7.45M | 4.04M | 7.66M | 24.43M |
Cash Flow | |||||
| Free Cash Flow | -4.02M | -4.02M | -3.65M | -4.80M | -4.35M |
| Operating Cash Flow | -3.98M | -3.98M | 0.00 | 0.00 | 0.00 |
| Investing Cash Flow | 212.02K | 212.02K | 1.38M | -531.09K | -2.33M |
| Financing Cash Flow | 6.87M | 6.87M | 623.76K | 4.31M | 8.86M |
Southern Gold Limited Peers Comparison
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% | |
53 Neutral | AU$61.99M | -8.45 | -27.44% | ― | ― | ― | |
49 Neutral | AU$63.98M | -9.80 | -81.94% | ― | ― | ― | |
49 Neutral | AU$72.61M | -0.23 | -47.55% | ― | ― | ― | |
47 Neutral | AU$170.09M | -4.10 | -135.79% | ― | ― | ― | |
44 Neutral | AU$48.51M | -4.24 | -518.34% | ― | ― | ― |
Southern Gold Limited Corporate Events
IONDRIVE Limited has applied to the ASX for quotation of 11,363,636 new fully paid ordinary shares under its existing issuer code ION. The new securities, issued on 30 January 2026, arise from a previously announced transaction and, once quoted, will expand the company’s listed capital base, potentially enhancing liquidity and access to equity funding for current and prospective shareholders.
The most recent analyst rating on (AU:ION) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Southern Gold Limited stock, see the AU:ION Stock Forecast page.
In its latest quarterly activities report for the period ended 31 December 2025, Iondrive Limited detailed significant progress in moving its IONSolv™ technology from development into commercial readiness, particularly in North America. The company completed a A$4 million equity placement to fund e‑waste and rare earth recycling opportunities and reported Phase 1 techno‑economic evaluation results for a 2,000 tonne per annum modular rare earth element recycling plant, which confirmed strong base-case economics for recovering rare earths from end‑of‑life magnets and supported a scalable, modular rollout across U.S. e‑waste hubs. Initial validation work showed IONSolv™ achieving over 75% rare earth recovery from e‑waste without process optimisation, while commissioning of a dry processing container began to prepare lithium‑ion battery black mass for downstream refining, positioning IONSolv™ as a modular pilot-plant solution in Australia. The company also launched a solar panel recycling initiative targeting high-purity silver and silicon, advanced graphite upgrading by successfully removing PVDF binder without damaging graphite structure, and signed a binding agreement with LAT66 to apply IONSolv™ to virgin cobalt concentrates in Finland, extending the technology beyond recycling. Supported by a A$1.3 million R&D tax incentive refund, additional grant funding, leadership and board changes aimed at execution and scale-up, and cash of A$8.4 million at quarter end plus further placement proceeds, Iondrive enters its next phase with a strengthened financial and operational platform to pursue pilot commissioning and early commercial engagement in critical minerals processing.
The most recent analyst rating on (AU:ION) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Southern Gold Limited stock, see the AU:ION Stock Forecast page.
Shareholders of Iondrive Limited overwhelmingly backed all resolutions at the company’s latest general meeting, including the ratification of a prior tranche-one placement and approvals for proposed share issues to Strata Investment Holdings and several directors, as well as option grants to board members. The strong voting support for equity and incentive issuances signals investor endorsement of Iondrive’s capital management and board alignment as it develops its IONSolv mineral extraction technology, potentially strengthening its financial position and governance framework to advance its critical minerals and battery materials strategy.
The most recent analyst rating on (AU:ION) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Southern Gold Limited stock, see the AU:ION Stock Forecast page.
IONDRIVE Limited has notified the ASX of the issue of 6 million unquoted options, each expiring on 19 January 2030, under a new class of securities. The move expands the company’s pool of unquoted equity instruments, potentially affecting capital structure and future dilution for existing shareholders, although the announcement does not disclose the purpose or recipients of these options.
The most recent analyst rating on (AU:ION) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Southern Gold Limited stock, see the AU:ION Stock Forecast page.
IONDRIVE Limited has appointed Mr Duncan Turner as a director effective 19 January 2026, according to an initial director’s interest notice lodged with the ASX. As part of his appointment, Turner has been granted 6,000,000 unlisted options with an exercise price of $0.067, expiring on 19 January 2030, aligning his incentives with shareholder value creation and signalling confidence in the company’s longer-term prospects.
The most recent analyst rating on (AU:ION) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Southern Gold Limited stock, see the AU:ION Stock Forecast page.
IONDRIVE Limited has notified the ASX of the issue of 20 million unquoted performance rights under its employee incentive scheme, which are not intended to be quoted on the exchange. The new performance rights, expiring in January 2029, are designed to align staff and management incentives with shareholder interests and may have future implications for the company’s capital structure and dilution profile as they vest and convert into equity.
The most recent analyst rating on (AU:ION) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Southern Gold Limited stock, see the AU:ION Stock Forecast page.
Iondrive Limited has released a corporate update presentation to be delivered by newly appointed CEO Lewis Utting during an investor webinar held via Zoom, signalling an early move to engage the market and articulate the company’s strategy under new leadership. The event, which includes a Q&A component for investors, underscores Iondrive’s efforts to raise its profile as it advances its IONSolv™ technology for high‑value, lower‑impact recovery of critical minerals, a positioning that may prove important as supply chain security and environmentally sustainable extraction become increasingly central to the battery and e‑waste sectors.
The most recent analyst rating on (AU:ION) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Southern Gold Limited stock, see the AU:ION Stock Forecast page.
Iondrive Limited has announced a Board-led leadership reshuffle as it moves from technology development into execution, scale-up and commercial deployment of its IONSolv™ critical minerals processing platform, including battery recycling and other applications. Commercial Director Lewis Utting has been appointed Chief Executive Officer for an initial six-month period to drive modular deployment, strategic partnerships and market entry, while outgoing CEO Dr Ebbe Dommisse will concentrate on project delivery and operational scale-up during a three-month transition before continuing to support the company as needed; the Board has also strengthened its technical and commercialisation expertise at the Board level, signalling a concerted push to capitalise on near-term commercial opportunities as the Australian pilot plant begins commissioning.
The most recent analyst rating on (AU:ION) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Southern Gold Limited stock, see the AU:ION Stock Forecast page.
IONDRIVE Limited, listed on the ASX under the code ION, has notified the market of a change to its issued capital structure.
The company announced that 2,500,000 options (code IONAAD), exercisable at $0.025 and expiring 3 December 2028, have lapsed as the conditions attached to these securities were not satisfied or have become incapable of being satisfied, resulting in a reduction of potential future dilution for existing shareholders.
The most recent analyst rating on (AU:ION) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Southern Gold Limited stock, see the AU:ION Stock Forecast page.
IONDRIVE Limited, listed on the ASX under the code ION, has disclosed plans for a new securities issue but has not provided further information in this document about its industry, core activities, or target markets. The company has lodged an Appendix 3B detailing a proposed placement or other type of issue of up to 26 million options, each exercisable at $0.067 and expiring in January 2030, with a proposed issue date of 30 January 2026, signaling a potential capital-raising move that could expand its capital base and dilute existing shareholders depending on future option exercise.
Iondrive Limited has called a general meeting of shareholders for 22 January 2026 at Mills Oakley’s Melbourne offices, scheduled for midday AEDT, and has shifted to primarily electronic distribution of meeting materials, directing investors to its website and the ASX announcements platform for the Notice of Meeting. The company is encouraging shareholders to participate via proxy by an online platform or traditional mail and hand delivery ahead of a strict deadline, underlining an ongoing move toward digital investor communications and formal engagement on key resolutions to be considered at the meeting.
IONDRIVE LIMITED has announced a new issuance of securities on the Australian Securities Exchange (ASX), with 100,000 ordinary fully paid shares to be quoted as of December 17, 2025. This move is part of the company’s strategy to enhance its market presence and provide additional liquidity options for its stakeholders.
Iondrive Limited has bolstered its financial position by receiving $1.3 million from the Australian Government’s R&D Tax Incentive and an additional $1.1 million from the Industry Growth Program. These funds, along with a recent $4 million capital raise, will support the development of its sustainable Deep Eutectic Solvent (DES) technology for applications in e-waste recycling, Li-ion battery recycling, solar cell recycling, and mineral processing. The financial boost is expected to enhance Iondrive’s operational capabilities and expand its market reach in the sustainable recycling and metal extraction sectors.
IONDRIVE LIMITED has announced the application for quotation of 77,500,000 ordinary fully paid securities on the Australian Securities Exchange (ASX) as of December 1, 2025. This move is part of previously announced transactions and signifies a strategic step in enhancing the company’s market presence and liquidity, potentially impacting its stakeholders positively.
Iondrive Limited announced the successful passing of all resolutions at its Annual General Meeting, including the adoption of the Remuneration Report, re-election of directors, approval of an Employee Incentive Plan, and a 10% Placement Capacity. This outcome reflects strong shareholder support and positions the company to continue its strategic initiatives in metal extraction and recycling, potentially enhancing its market presence and stakeholder value.
Iondrive Limited has presented its CEO’s presentation at the 2025 Annual General Meeting, highlighting its innovative approach to metal extraction using Deep Eutectic Solvent technology. This advancement positions the company to potentially transform the battery recycling industry by offering a more sustainable and efficient method of recovering critical metals, with implications for expanding into other markets like mineral processing and urban mining.
Iondrive Limited has made significant strides in the past year by establishing a clear technology brand, focusing on high-value verticals, and building strong international partnerships. The company has positioned itself for global execution with subsidiaries in Germany, the Netherlands, and the US, and has developed a scalable, capital-efficient model. Iondrive’s unique technology platform for critical metal recovery aligns with global trends towards sustainable materials processing, setting it apart in the industry. The company’s disciplined execution and strategic direction have been acknowledged by its leadership, with plans to continue scaling responsibly and transparently.
IonDrive Limited has announced a new issuance of securities, with a total of 90,909,087 ordinary fully paid shares to be issued. This move is part of a placement or other type of issue, with the proposed issue date set for December 1, 2025. The announcement indicates that the company is seeking to expand its capital base, which could potentially enhance its market position and provide new opportunities for growth.
Iondrive Limited has successfully raised $4 million through a share placement to advance its e-waste recycling initiatives in the USA. The funds will be used to commercialize Iondrive’s IONSolv™ technology, focusing on processing end-of-life permanent magnets to recover rare-earth oxides. This initiative aims to reduce North America’s reliance on imported REOs and complements Iondrive’s ongoing efforts in battery and solar panel recycling. The company has signed a binding agreement with Colt Recycling LLC to provide mixed e-waste feedstock, and is progressing with a techno-economic assessment for a modular recycling plant. The move strengthens Iondrive’s market position and supports its applications for US Government grants.
Iondrive Limited, listed on the Australian Securities Exchange under the code ION, has requested a trading halt on its securities as it prepares to make an announcement concerning a capital raising initiative. The halt is expected to last until the announcement is made or until the commencement of normal trading on November 25, 2025. This move indicates that the company is in the process of securing additional capital, which could have significant implications for its financial strategy and market operations.
IonDrive Limited, listed on the ASX under the code ION, announced the cessation of 4,380,000 securities due to the expiry of options or other convertible securities without exercise or conversion as of October 31, 2025. This cessation of securities may impact the company’s capital structure and could influence investor perceptions regarding the company’s future financial strategies and market positioning.
Iondrive Limited has launched a solar panel recycling initiative aimed at recovering high-purity silver and silicon, addressing a major market gap in the recycling of end-of-life photovoltaic cells. This initiative is expected to capitalize on strong silver prices and rising silicon demand, positioning Iondrive as a leader in high-value solar panel recycling. The program, in collaboration with the University of Adelaide and a UK commercial laboratory, seeks to leverage Iondrive’s DES technology to efficiently recover valuable materials, offering significant economic and environmental benefits. With the Australian solar waste stream projected to exceed 100,000 tonnes annually by 2030, Iondrive’s efforts could transform the recycling landscape, providing a scalable solution for urban mining applications.