Iris Metals Limited (AU:IR1)
ASX:IR1
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Iris Metals Limited
(Sydney:IR1)
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Rating:44Neutral
Price Target:
AU$0.11
â–¼(-37.78% Downside)
Action:ReiteratedDate:03/24/26
Score is held down primarily by weak financial performance (no revenue, ongoing losses and cash burn) and bearish technicals (price below key moving averages with negative MACD). Valuation is also constrained by a negative P/E and no dividend yield data.
Positive Factors
Conservative balance sheet / low leverage
The company’s near-zero debt profile and materially larger equity base (equity ~A$44.1M in 2025) provide durable financial flexibility for exploration cycles. Low leverage reduces default risk and preserves optionality to fund projects via equity or JV structures without immediate refinancing pressure.
Negative Factors
Pre-revenue business model
The company remains pre-revenue and dependent on exploration success to create commercial value. Without operating revenue, long-term value hinges on discovery, feasibility and commodity markets, raising execution risk and making sustained investment returns uncertain over the next 2–6 months.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet / low leverage
The company’s near-zero debt profile and materially larger equity base (equity ~A$44.1M in 2025) provide durable financial flexibility for exploration cycles. Low leverage reduces default risk and preserves optionality to fund projects via equity or JV structures without immediate refinancing pressure.
Read all positive factors
Iris Metals Limited (IR1) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$28.56M
Dividend YieldN/A
Average Volume (3M)698.83K
Price to Earnings (P/E)―
Beta (1Y)2.45
Revenue GrowthN/A
EPS Growth9.01%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.04
Shares Outstanding248,368,240
10 Day Avg. Volume512,277
30 Day Avg. Volume698,834
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)0.81
Price to Sales (P/S)0.00
P/FCF Ratio-2.79
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)AU$60.00K
Iris Metals Limited Business Overview & Revenue Model
Company Description
IRIS Metals Limited explores for and evaluates mining tenements in Australia. It holds an interest in the Kookynie project comprising 20 prospecting licenses, 2 exploration licenses, and 1 mining license with a total area of approximately 35.5 squ...
How the Company Makes Money
Iris Metals Limited generates revenue primarily through the exploration, development, and potential sale or joint-venture agreements of its mining projects. The main revenue streams include proceeds from the eventual extraction and sale of metals ...
Iris Metals Limited Financial Statement Overview
Summary
Income Statement
9
Very Negative
Balance Sheet
64
Positive
Cash Flow
23
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -101.81K | -88.69K | -52.26K | -10.51K | -4.43K | 0.00 |
| EBITDA | -7.82M | -4.51M | -15.58M | -12.12M | -1.89M | -1.80M |
| Net Income | -7.88M | -5.62M | -17.32M | -12.13M | -3.24M | -1.80M |
Balance Sheet | ||||||
| Total Assets | 40.66M | 44.45M | 41.43M | 12.74M | 4.41M | 502.10K |
| Cash, Cash Equivalents and Short-Term Investments | 1.73M | 4.17M | 9.79M | 675.42K | 4.19M | 496.42K |
| Total Debt | 0.00 | 0.00 | 0.00 | 72.53K | 0.00 | 0.00 |
| Total Liabilities | 478.76K | 355.38K | 1.50M | 825.79K | 199.21K | 305.56K |
| Stockholders Equity | 40.19M | 44.09M | 39.93M | 11.92M | 4.21M | 196.54K |
Cash Flow | ||||||
| Free Cash Flow | -1.75M | -12.73M | -13.39M | -6.97M | -1.30M | -737.45K |
| Operating Cash Flow | -1.67M | -3.17M | -4.36M | -1.78M | -1.25M | -737.45K |
| Investing Cash Flow | -8.11M | -9.56M | -8.91M | -5.19M | -54.25K | 0.00 |
| Financing Cash Flow | 10.95M | 7.15M | 22.38M | 3.45M | 6.38M | 1.23M |
Iris Metals Limited Technical Analysis
Neutral
0.18
Price Trends
0.14
Negative
0.19
Negative
0.17
Negative
Market Momentum
-0.01
Negative
49.47
Neutral
78.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:IR1, the sentiment is Neutral. The current price of 0.18 is above the 20-day moving average (MA) of 0.12, above the 50-day MA of 0.14, and above the 200-day MA of 0.17, indicating a neutral trend. The MACD of -0.01 indicates Negative momentum. The RSI at 49.47 is Neutral, neither overbought nor oversold. The STOCH value of 78.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:IR1.
Iris Metals Limited 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% | |
49 Neutral | AU$31.97M | -6.78 | -6.34% | ― | ― | ― | |
47 Neutral | AU$39.27M | 3.40 | 7.66% | ― | 400.00% | 21.71% | |
46 Neutral | AU$28.81M | -30.22 | -4.96% | ― | ― | 37.50% | |
45 Neutral | AU$42.38M | -3.39 | -35.89% | ― | ― | -4.00% | |
44 Neutral | AU$28.56M | -1.26 | -18.70% | ― | ― | 9.01% |
* Basic Materials Sector Average
AU:IR1
Iris Metals Limited
0.12
-0.15
-55.77%
AU:ODY
Odyssey Gold Limited
0.03
<0.01
42.86%
AU:AAM
Matador Mining Ltd
0.04
>-0.01
-14.29%
AU:HAW
Hawthorn Resources Limited
0.09
0.03
62.26%
AU:KZR
Kalamazoo Resources Ltd.
0.13
0.05
60.26%
Iris Metals Limited Corporate Events
Iris Metals Discloses Final Director Interest Following Kevin Smith’s Board Exit
Mar 26, 2026
Iris Metals Limited has announced that director Kevin Smith ceased to be a director on 22 March 2026, and has lodged a final director’s interest notice detailing his remaining holdings in the company. Smith retains 1.5 million ordinary share...
Iris Metals Wins Shareholder Backing for 15% Issue Cap in Amended Constitution
Mar 26, 2026
Iris Metals Limited has secured shareholder approval for all resolutions put to its latest General Meeting, including a special resolution to amend its constitution. The changes, adopted by poll as of 26 March 2026, formalise that the company̵...
IRIS Metals Shareholders Back All Resolutions at General Meeting
Mar 26, 2026
IRIS Metals Limited reported that all resolutions put to shareholders at its 26 March 2026 general meeting were passed by poll, including ratification of prior placement securities and approval for further tranche placements to directors. Investor...
IRIS Metals Mourns Sudden Passing of Non-Executive Director Kevin Smith
Mar 23, 2026
IRIS Metals has announced the sudden passing of Non-Executive Director Kevin Smith, a highly regarded board member whose insight and steady counsel were acknowledged as significant contributions to the company. The board, management and staff exte...
Iris Metals Secures Historic Data and Advances Permitting for U.S. Tungsten Project
Mar 17, 2026
Iris Metals has acquired historical Union Carbide exploration data for its Finley Basin Tungsten Project in Montana, including drill logs, assays, geological interpretations and regional sampling, for a consideration of US$7,500. While the dataset...
Iris Metals Director Exercises Options to Increase Shareholding
Mar 13, 2026
Iris Metals has disclosed a change in director Peter Marks’ interests in the company’s securities, detailing an adjustment between his direct and indirect holdings. The notice outlines his positions in ordinary shares, performance righ...
Iris Metals Director Increases Shareholding Through Performance Rights Conversion
Mar 13, 2026
Iris Metals has disclosed changes to director Kevin Smith’s interests following the conversion of vested performance rights into ordinary shares. The transaction, which involved no cash consideration, increases Smith’s direct holding o...
IRIS Metals Issues New Shares to Cement U.S. Tungsten Farm-In Deal
Mar 13, 2026
IRIS Metals has issued 1,500,000 fully paid ordinary shares at no issue price following the conversion of ZEPOs and performance rights, alongside 1,209,678 shares at $0.124 each as upfront consideration under a farm-in agreement linked to a stake ...
Iris Metals Seeks ASX Quotation for 1.5 Million New Shares
Mar 13, 2026
Iris Metals Limited has applied for quotation of 1,500,000 new ordinary fully paid shares on the Australian Securities Exchange. The securities, issued on 13 March 2026, arise from the exercise or conversion of existing options or other convertibl...
Iris Metals Withdraws Prior Securities Issue Notice, Files New Appendix 3B
Mar 9, 2026
Iris Metals Limited has withdrawn a previously lodged Appendix 3B relating to a proposed securities issue, citing that the final agreement, including deferred consideration shares, is subject to shareholder approval. The company will instead proce...
IRIS Metals Secures Farm-In to High-Grade Montana Tungsten Project
Mar 9, 2026
IRIS Metals has signed a definitive farm-in agreement to earn up to 100% of Finley Mining Inc., owner of the high-grade Finley Basin Tungsten Project in Granite County, Montana. The project comprises about 378 hectares of unpatented mining claims ...
Iris Metals Discloses Director Tal Paneth’s Departure and Shareholding
Mar 3, 2026
Iris Metals Limited has announced the cessation of Tal Paneth as a director, effective 4 March 2026, in line with disclosure obligations to the ASX. The company’s filing shows that Paneth retains a holding of 29,000,000 ordinary fully paid s...
IRIS Metals Flags Expiry of 500,000 Zero-Price Options
Mar 3, 2026
IRIS Metals has notified the market of the upcoming expiry of 500,000 unlisted options, each exercisable at $0.00 and scheduled to expire on 24 April 2026. Holders who wish to exercise must submit completed option exercise forms and payment by the...
Iris Metals Issues Shares on ZEPO Conversion, Affirms Compliance
Feb 20, 2026
Iris Metals has issued 500,000 fully paid ordinary shares at an issue price of zero dollars per share, following the conversion of zero exercise price options. The company confirmed the shares were issued without a prospectus under Australian corp...
Iris Metals Seeks ASX Quotation for 500,000 New Shares
Feb 20, 2026
Iris Metals Limited has applied to the ASX for quotation of 500,000 new ordinary fully paid shares, with an issue date of 20 February 2026. The additional securities, arising from exercised options or converted instruments, modestly expand the com...
Iris Metals Issues Over 20 Million Unquoted Options Expiring in 2029
Feb 10, 2026
Iris Metals Limited has notified the market of the issue of several tranches of unquoted options, all expiring on 10 February 2029, under new security classes that are not intended to be quoted on the ASX. The company is issuing a total of 20,363,...
Iris Metals Issues New Shares to Support Capital Raising
Feb 9, 2026
Iris Metals has issued 32,727,276 new fully paid ordinary shares at $0.165 each as part of a capital raising, expanding its equity base to fund ongoing activities. The company confirmed the shares were issued without a prospectus under Australian ...
Iris Metals Seeks ASX Quotation for 32.7 Million New Shares
Feb 9, 2026
Iris Metals Limited has lodged an application with the ASX for quotation of 32,727,276 ordinary fully paid shares. The new securities, issued on 10 February 2026, will be admitted to trading under the company’s existing IR1 ticker, expanding...
Iris Metals Updates Investor Presentation on U.S. Critical Minerals Strategy
Feb 3, 2026
Iris Metals Limited has released an updated investor presentation outlining its activities and project portfolio to the market. The refreshed materials are intended to provide current and prospective shareholders with clearer insight into the comp...
Iris Metals Plans New Share and Option Issue to Strengthen Capital Base
Feb 2, 2026
Iris Metals Limited has outlined plans for a new capital raising via a placement, proposing to issue up to 606,060 fully paid ordinary shares and 303,030 options exercisable at $0.2475 and expiring on 10 February 2029. The proposed issue, schedule...
Iris Metals Plans Share Placement and Long-Dated Option Issue
Feb 2, 2026
Iris Metals Limited has lodged an Appendix 3B with the ASX outlining a proposed capital raising via a placement and related option issues. Under the proposal, the company plans to issue 32,727,276 fully paid ordinary shares and a total of 20,363,6...
IRIS Metals Raises A$5.5m to Advance US Critical Minerals Portfolio
Feb 2, 2026
IRIS Metals Limited has secured firm commitments to raise A$5.5 million through a placement of new shares at A$0.165 per share to new and existing institutional and sophisticated investors, priced at a 15.4% discount to recent trading levels and a...
Iris Metals Options Lapse as 500,000 Securities Expire Unexercised
Feb 1, 2026
Iris Metals Limited has notified the market that 500,000 listed options (ASX code IR1AK), exercisable at $1.20 and due to expire on 31 January 2026, have lapsed unexercised. The expiry of these options slightly reduces the company’s potentia...
Iris Metals Seeks Trading Halt Ahead of Capital Raising Announcement
Jan 30, 2026
Iris Metals Limited has requested and been granted a trading halt on its securities on the ASX, effective from 30 January 2026, as it prepares a market announcement. The halt, which will remain in place until either 3 February 2026 or the release ...
Iris Metals Issues 1.5 Million Unquoted Options Under Employee Incentive Scheme
Jan 21, 2026
Iris Metals Limited has notified the ASX of the issue of 1.5 million unquoted options under its employee incentive scheme, exercisable at $0.20 and expiring on 14 November 2027. The new options, which will not be quoted on the ASX, form part of th...
Iris Metals Director Increases Shareholding Through Conversion of Performance Rights
Jan 19, 2026
Iris Metals Limited has reported a change in director Kevin Smith’s holdings following the conversion of vested performance rights into ordinary fully paid shares. The transaction, conducted on 19 January 2026, saw Smith dispose of 500,000 C...
IRIS Metals Issues New Shares to Advance Ingersoll Property Acquisition
Jan 19, 2026
IRIS Metals has issued 500,000 new shares following the conversion of performance rights and a further 5,341,878 fully paid ordinary shares at a deemed price of $0.09 as part consideration for the acquisition of the Ingersoll Property under a prev...
Iris Metals Seeks ASX Quotation for Over 5.3 Million New Shares
Jan 19, 2026
Iris Metals Limited has applied to the ASX for quotation of 5,341,878 new fully paid ordinary shares, with an issue date of 19 January 2026. The additional securities, issued under a previously announced transaction, will expand the company’...
Iris Metals Seeks ASX Quotation for 500,000 New Ordinary Shares
Jan 19, 2026
Iris Metals Limited has applied to the ASX for quotation of an additional 500,000 fully paid ordinary shares, to be traded under its existing ticker IR1. The new securities, issued on 19 January 2026 following the exercise or conversion of existin...
Iris Metals Unveils High-Grade Rubidium Discovery at Beecher Project
Jan 7, 2026
Iris Metals has identified a significant high-grade rubidium discovery at its Beecher Project in South Dakota, following a review of 117 drill holes that returned 45 intercepts above 2 metres at 0.20% Rb₂O, including standout grades up to 0....
Iris Metals Options Lapse as 6.5 Million Securities Expire Unexercised
Dec 31, 2025
Iris Metals Limited has announced that 6.5 million listed options with an exercise price of A$0.40, due to expire on 31 December 2025, have lapsed unexercised. The expiry of these options without conversion marginally reduces the company’s p...
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.
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