Kaiser Reef Ltd (AU:KAU)
ASX:KAU
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Kaiser Reef Ltd
(Sydney:KAU)
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Rating:54Neutral
Price Target:
AU$0.23
▼(-23.33% Downside)
Action:Reiterated
Date:04/11/26
The score is primarily driven by mixed financial performance: very strong revenue growth but continued profitability and free-cash-flow weakness. Technical indicators are modestly negative due to price trading below key moving averages and a negative MACD, while valuation is a relative positive given the low P/E.
Positive Factors
Revenue Growth
Sustained, large top-line expansion indicates growing production or successful resource conversion and supports scale economics. If management can translate higher volumes into improved operating leverage, this growth underpins longer-term cash generation and funds exploration and development.
Negative Factors
Negative profit margins
Persistent negative operating and net margins point to structural cost or efficiency issues: high mining or processing costs, low recoveries, or start-up inefficiencies. Without margin improvement, revenue growth will not translate into lasting earnings or internal capital for reinvestment.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained, large top-line expansion indicates growing production or successful resource conversion and supports scale economics. If management can translate higher volumes into improved operating leverage, this growth underpins longer-term cash generation and funds exploration and development.
Read all positive factors
Kaiser Reef Ltd (KAU) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$136.20M
Dividend YieldN/A
Average Volume (3M)2.91M
Price to Earnings (P/E)68.5
Beta (1Y)0.67
Revenue Growth593.88%
EPS Growth80.32%
CountryAU
Employees18
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)<0.01
Shares Outstanding605,322,400
10 Day Avg. Volume3,280,891
30 Day Avg. Volume2,907,890
Financial Highlights & Ratios
PEG Ratio-0.92
Price to Book (P/B)1.43
Price to Sales (P/S)2.81
P/FCF Ratio-12.96
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)0.09
Revenue Forecast (FY)AU$182.50M
Kaiser Reef Ltd Business Overview & Revenue Model
Company Description
Kaiser Reef Limited engages in the exploration, development, and production of gold projects in Australia. The company holds a 100% interest in the Stuart Town project; and Macquarie North project located in the Lachlan Fold Belt, New South Wales....
How the Company Makes Money
Kaiser Reef primarily makes money by producing and selling gold. Revenue is generated from mining gold-bearing ore, processing it to recover gold, and selling the resulting gold (typically as doré or refined metal) into the gold market at prevaili...
Kaiser Reef Ltd Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
60
Neutral
Cash Flow
50
Neutral
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 107.36M | 34.83M | 23.74M | 30.71M | 22.80M | 5.09M |
| Gross Profit | 30.09M | 143.29K | -3.27M | 3.01M | 5.87M | -3.17M |
| EBITDA | 38.87M | -307.27K | -1.74M | 4.93M | 4.54M | -10.47M |
| Net Income | 1.95M | -20.24M | -5.53M | 1.17M | -2.26M | -11.81M |
Balance Sheet | ||||||
| Total Assets | 136.31M | 120.26M | 30.24M | 32.30M | 29.57M | 26.57M |
| Cash, Cash Equivalents and Short-Term Investments | 43.11M | 24.76M | 1.11M | 3.23M | 6.58M | 4.79M |
| Total Debt | 14.28M | 9.89M | 599.82K | 543.37K | 267.84K | 281.33K |
| Total Liabilities | 58.57M | 51.66M | 6.14M | 7.08M | 6.76M | 6.39M |
| Stockholders Equity | 77.74M | 68.60M | 24.10M | 25.22M | 22.81M | 20.17M |
Cash Flow | ||||||
| Free Cash Flow | 17.53M | -7.56M | -4.86M | -4.12M | -3.02M | -5.30M |
| Operating Cash Flow | 35.35M | 5.13M | 467.76K | 5.26M | 5.65M | -2.48M |
| Investing Cash Flow | -54.23M | -33.53M | -5.33M | -9.39M | -8.59M | -9.69M |
| Financing Cash Flow | 37.79M | 48.05M | 2.75M | 764.86K | 4.74M | 16.95M |
Kaiser Reef Ltd Technical Analysis
Negative
0.30
Price Trends
0.25
Negative
0.30
Negative
0.28
Negative
Market Momentum
>-0.01
Negative
38.12
Neutral
30.23
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:KAU, the sentiment is Negative. The current price of 0.3 is above the 20-day moving average (MA) of 0.24, above the 50-day MA of 0.25, and above the 200-day MA of 0.28, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 38.12 is Neutral, neither overbought nor oversold. The STOCH value of 30.23 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:KAU.
Kaiser Reef Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | AU$142.19M | 9.32 | 14.07% | 4.01% | 6.77% | 71.42% | |
73 Outperform | AU$550.19M | 2.02 | 79.54% | ― | 161.65% | 2191.43% | |
64 Neutral | AU$73.25M | 2.11 | 30.00% | ― | 128.86% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | AU$136.20M | 68.52 | 2.67% | ― | 593.88% | 80.32% | |
46 Neutral | AU$255.47M | 30.68 | 10.73% | ― | 78.18% | ― | |
46 Neutral | AU$136.30M | -66.87 | -0.88% | ― | ― | 78.67% |
* Basic Materials Sector Average
AU:KAU
Kaiser Reef Ltd
0.23
0.04
18.42%
AU:BCN
Beacon Minerals
2.27
1.17
106.36%
AU:FML
Focus Minerals Ltd
1.92
1.52
380.00%
AU:KSN
Kingston Resources Ltd.
0.09
-0.04
-30.40%
AU:RND
Rand Mining Limited
2.50
0.67
36.24%
AU:DLI
Delta Lithium Limited
0.19
0.00
0.00%
Kaiser Reef Ltd Corporate Events
Kaiser Reef Doubles Maldon Plant Throughput With Two-Shift Operation
Apr 30, 2026
Kaiser Reef has expanded operations at its Maldon Gold Project in Victoria by moving the Porcupine Flat Processing Plant to a two-shift, day-and-night schedule from Monday to Thursday, effectively doubling throughput for only a modest increase in ...
Kaiser Reef Lifts Cash, Ramps Up Maldon as It Gains Full Exposure to Gold Price
Apr 29, 2026
Kaiser Reef reported quarterly production of 5,188 ounces of gold at Henty and 346 ounces at Maldon for the period ending 31 March 2026, while increasing its cash balance to A$45.6 million and closing out gold call options to gain full leverage to...
Kaiser Reef strengthens leadership with new CFO as it consolidates growth push
Apr 23, 2026
Kaiser Reef Ltd, a profitable Australian gold producer operating mines in Tasmania and Victoria, is consolidating its executive leadership in Perth as it advances the Henty and Maldon projects and pursues longer-term growth in a favourable gold ma...
Kaiser Reef Lifts Cash Balance as Gold Output Supports Debt Reduction
Apr 9, 2026
Kaiser Reef reported total March‑quarter production of 5,534 ounces of gold from its Henty and Maldon operations, alongside 4,810 ounces of silver from Henty, while closing the period with a strong cash balance of A$45.6 million. The company...
Kaiser Reef Plans Issue of 3 Million Unlisted Options
Mar 17, 2026
Kaiser Reef Limited has notified the ASX of a proposed placement involving the issuance of up to 3 million unlisted options. The options are split into two equal tranches, with 1.5 million exercisable at $0.60 and 1.5 million at $0.75, each carryi...
Kaiser Reef secures managing director as Henty output improves and Maldon advances
Mar 17, 2026
Kaiser Reef has renewed the employment contract of Managing Director Brad Valiukas, securing his ongoing leadership after his successful transition from Executive Director – Operations in October last year. Valiukas, a mining engineer with m...
Kaiser Reef Clears On-Sale of New Shares After Option Exercise
Mar 16, 2026
Kaiser Reef has issued 5,934,868 fully paid ordinary shares following the exercise of unlisted options, and has lodged a notice under section 708A(5) of the Corporations Act to permit on-sale of these securities without a prospectus. The company c...
Kaiser Reef Seeks ASX Quotation for Nearly 6 Million New Shares
Mar 16, 2026
Kaiser Reef Ltd has applied for ASX quotation of 5,934,868 new ordinary fully paid shares, with an issue date of 16 March 2026. The securities arise from the exercise of options or conversion of other convertible instruments, increasing the compan...
Kaiser Reef files interim half-year financial report for 2025
Mar 13, 2026
Kaiser Reef Ltd has released its interim financial report for the half year ended 31 December 2025, providing consolidated statements of profit or loss, financial position, cash flows and changes in equity. The report package also includes the dir...
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.