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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 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2020 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 245.29K | 0.00 | 0.00 | 0.00 |
| Gross Profit | 173.22K | 0.00 | 0.00 | 0.00 |
| EBITDA | -5.63M | -6.05M | -7.92M | -7.48M |
| Net Income | -4.62M | -6.12M | -8.04M | 4.34M |
Balance Sheet | ||||
| Total Assets | 8.99M | 4.99M | 8.61M | 25.11M |
| Cash, Cash Equivalents and Short-Term Investments | 5.87M | 2.76M | 4.21M | 8.00M |
| Total Debt | 0.00 | 19.82K | 33.52K | 124.46K |
| Total Liabilities | 1.54M | 958.23K | 944.33K | 683.92K |
| Stockholders Equity | 7.45M | 4.04M | 7.66M | 24.43M |
Cash Flow | ||||
| Free Cash Flow | -4.02M | -3.65M | -4.80M | -4.35M |
| Operating Cash Flow | -3.98M | 0.00 | 0.00 | 0.00 |
| Investing Cash Flow | 212.02K | 1.38M | -531.09K | -2.33M |
| Financing Cash Flow | 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$59.94M | -8.17 | -27.44% | ― | ― | ― | |
47 Neutral | AU$190.20M | -4.59 | -135.79% | ― | ― | ― | |
46 Neutral | AU$41.48M | -6.04 | -81.94% | ― | ― | ― | |
46 Neutral | AU$76.12M | -6.61 | -518.34% | ― | ― | ― | |
43 Neutral | AU$79.24M | -0.21 | -47.55% | ― | ― | ― |
Southern Gold Limited Corporate Events
IONDRIVE Limited has released its consolidated financial report for the half year ended 31 December 2025, outlining its profit or loss, financial position, cash flows and changes in equity. The report also includes the directors’ report, auditor’s review, and related declarations, providing stakeholders with a formal update on the company’s financial governance and compliance status for the period.
The document confirms the company’s current board composition, key executives and external audit and registry providers, reinforcing the existing corporate framework supporting its ASX-listed operations. While detailed financial figures are not included in the excerpt, the release signals that IONDRIVE is maintaining standard reporting practices expected of an Australian listed entity, which underpins transparency and regulatory adherence for shareholders and the market.
The most recent analyst rating on (AU:ION) stock is a Sell with a A$0.03 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 issued 14.5 million fully paid ordinary shares without a prospectus, using provisions under section 708A of the Corporations Act that allow certain share issues without formal disclosure to investors. The company confirmed it is compliant with its financial reporting and continuous disclosure obligations and that there is no excluded information requiring disclosure, signalling that the capital raising has been structured to align with regulatory requirements while potentially strengthening its funding base for advancing its critical minerals extraction technology.
The most recent analyst rating on (AU:ION) stock is a Hold with a A$0.04 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 applied to the ASX for quotation of 14.5 million new ordinary fully paid shares under its ticker ION. The new securities, issued on 6 February 2026 following the exercise or conversion of existing options or other convertible securities, will expand the company’s quoted capital base, potentially increasing liquidity in its stock and providing additional funding flexibility for future corporate and operational activities.
The most recent analyst rating on (AU:ION) stock is a Hold with a A$0.04 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 issued a total of 13,409,087 fully paid ordinary shares in two tranches on 30 January and 6 February 2026 without a prospectus, relying on provisions under section 708A of the Corporations Act. The company confirmed it is compliant with its continuous disclosure and financial reporting obligations and that there is no excluded information requiring disclosure, signalling that the capital raising has been conducted within standard regulatory frameworks and supports ongoing development of its critical minerals extraction technology.
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.
Southern Gold Limited has disclosed a change in director Hugo Schumann’s holdings in IONDRIVE Limited, reflecting updated interests in both ordinary shares and unlisted options in accordance with ASX listing rules. Following shareholder approval on 22 January 2026, Schumann was issued 6 million new unlisted options, exercisable at $0.067 and expiring in February 2030, as part of a retention and incentive package for directors, and subscribed for 227,272 ordinary shares at $0.044 per share via a placement on the same terms as other investors, modestly increasing his equity exposure and aligning his interests more closely with 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 has reported a change in director Andrew Sissian’s holdings following shareholder-approved equity issuances. Sissian acquired 227,272 ordinary shares at $0.044 per share through participation in a placement on the same terms as other investors, and received 6 million new unlisted options expiring in February 2030 at an exercise price of $0.067, issued for nil consideration as part of a director retention and incentive arrangement. After the transactions, his stake increased to 4,433,621 ordinary shares plus a total of 9 million unlisted options across two series, signaling stronger alignment of the director’s interests with shareholders and reinforcing the company’s use of equity-based incentives to retain key leadership.
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 reported a change in director Adam Slater’s holdings, reflecting additional equity-based compensation and participation in a recent capital raising. The move forms part of the company’s efforts to retain and incentivise board members while aligning their interests more closely with shareholders.
Slater has been issued 6,000,000 unlisted options exercisable at $0.067 and 568,181 ordinary shares at $0.044 per share, lifting his total holding to 9,812,625 ordinary shares plus the options. The options were granted as a director incentive and the new shares were acquired through participation in a placement on the same terms as other investors, signalling director support for the company’s funding strategy and capital structure, with no trades occurring during a closed period.
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 updated the market on changes to director David Michael McNeilly’s holdings, following shareholder approval granted on 22 January 2026. McNeilly received 8 million new unlisted options exercisable at $0.067 and expiring on 6 February 2030, and subscribed for 568,181 ordinary shares at $0.044 per share for a total of $25,000 in a placement on the same terms as other investors, while 600,000 existing options expired. The unlisted options were issued at nil consideration as part of a retention and incentive arrangement for directors, increasing McNeilly’s holding to 3,479,292 ordinary shares and a larger long-dated option package, signalling continued alignment of director incentives with shareholder interests without any trading during a closed period.
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 lodged an application with the ASX for quotation of additional ordinary fully paid shares, expanding its listed equity base. The company is seeking quotation for 2,045,451 new ordinary shares, issued on 6 March 2026 as part of previously announced transactions, a move that marginally increases its free float and could provide additional liquidity for shareholders while completing the equity component of earlier market disclosures.
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 26 million unquoted options, each exercisable at $0.067 and expiring on 6 February 2030. The new options, which form part of previously announced transactions and are not intended to be quoted on the ASX, increase the company’s unquoted equity pool and may lead to future dilution for existing shareholders if exercised, while potentially aligning incentives for recipients with longer-term company performance.
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 that director John (Jack) Hamilton ceased to be a director on 31 January 2026, triggering a final disclosure of his relevant interests in the company’s securities under ASX rules. Hamilton holds 3,000,000 unlisted options in the company through the Hamilton Unit Trust, which are scheduled to lapse on 30 September 2026 under the Employee Incentive Plan, as well as 5,873,015 ordinary shares held via Energy Elements Pty Ltd, with an additional 454,545 ordinary shares expected to be issued to him on the same terms as other placement investors, underscoring the board’s management of equity incentives and ownership changes as part of the company’s governance processes.
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.
Livium reported bench-scale testing by partner Iondrive showing silver extraction efficiency above 85%, validating the technical foundation of its integrated solar panel recycling strategy that combines feedstock preparation, advanced dismantling via Won Kwang S&T, and Iondrive’s extraction platform. The strong recovery metrics underpin Livium’s thesis that silver can be a major economic driver—estimated at up to A$165 million annually by 2030—and position the company to benefit from government support such as the A$24.7 million National Solar Panel Recycling Pilot as it moves into optimisation, techno-economic assessment, and potential commercial arrangements.
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 has reported initial bench-scale laboratory results showing its IONSolv™ metal extraction platform can achieve more than 85% silver extraction efficiency under controlled conditions, providing a strong technical baseline to advance its solar panel recycling initiative. Building on these early findings, the company is moving to the next phase of work with partner Livium Ltd, applying IONSolv™ to mechanically prepared end-of-life solar panel feedstock to optimise recovery of silver and polysilicon, undertake preliminary techno-economic assessments and evaluate scalability, positioning Iondrive to address Australia’s rapidly growing solar waste stream and the current lack of effective recovery pathways for high-value photovoltaic materials.
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 requested and been granted a trading halt on its securities on the ASX while it reviews results from an independent laboratory on silver recoveries achieved in initial screening tests using its IONSolv technology on end-of-life solar panel material. The halt will remain in place until no later than the start of trading on 4 February 2026, when the company expects to release the trial results, a disclosure that could be significant for investors and industry stakeholders given the potential commercial and environmental value of efficient silver recovery from solar panel recycling.
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 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.