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$0.30
▼(-1.33% Downside)
Action:ReiteratedDate:02/03/26
The score is held back primarily by weak profitability (negative margins/ROE) and negative free cash flow despite very strong revenue growth. Technicals are moderately supportive with price holding above longer-term moving averages and a positive MACD, while valuation remains pressured due to a negative P/E and no dividend yield data.
Positive Factors
Revenue Growth
Sustained, large top-line growth implies successful production ramp or stronger ore throughput, improving operating scale. Over months this supports better fixed-cost absorption, enables reinvestment in operations and exploration, and increases the potential for durable cash generation if margins recover.
Negative Factors
Weak Profitability
Negative operating and net margins reveal persistent cost or recovery issues relative to revenue. Over months this undermines retained earnings, curtails ability to self-fund growth, and signals operational inefficiencies that must be addressed to convert revenue momentum into sustainable earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained, large top-line growth implies successful production ramp or stronger ore throughput, improving operating scale. Over months this supports better fixed-cost absorption, enables reinvestment in operations and exploration, and increases the potential for durable cash generation if margins recover.
Read all positive factors
Kaiser Reef Ltd (KAU) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$166.46M
Dividend YieldN/A
Average Volume (3M)2.91M
Price to Earnings (P/E)4.7
Beta (1Y)0.77
Revenue Growth46.74%
EPS Growth-47.98%
CountryAU
EmployeesN/A
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)0.12
Revenue Forecast (FY)AU$203.85M
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. Its revenue model centers on (1) mining gold-bearing ore from its underground operations, (2) processing that ore to recover gold (typically producing gold bullion/doré), and (3) sel...
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
Neutral
0.30
Price Trends
0.33
Negative
0.31
Negative
0.27
Positive
Market Momentum
-0.02
Negative
43.39
Neutral
74.55
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:KAU, the sentiment is Neutral. The current price of 0.3 is above the 20-day moving average (MA) of 0.30, below the 50-day MA of 0.33, and above the 200-day MA of 0.27, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 43.39 is Neutral, neither overbought nor oversold. The STOCH value of 74.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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$123.42M | 3.56 | 14.07% | 4.01% | 24.48% | 97.18% | |
73 Outperform | AU$699.20M | 3.23 | 121.31% | ― | 117.95% | ― | |
64 Neutral | AU$76.62M | 0.76 | 30.00% | ― | 22.40% | -93.75% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | AU$166.46M | 4.74 | 2.67% | ― | 46.74% | -47.98% | |
48 Neutral | AU$378.59M | 5.17 | -20.84% | ― | 11.43% | -238.93% | |
46 Neutral | AU$154.23M | 26.76 | -1.46% | ― | ― | 71.98% |
* Basic Materials Sector Average
AU:KAU
Kaiser Reef Ltd
0.28
0.11
61.76%
AU:BCN
Beacon Minerals
3.40
2.34
220.75%
AU:FML
Focus Minerals Ltd
2.44
2.22
1009.09%
AU:KSN
Kingston Resources Ltd.
0.09
<0.01
10.98%
AU:RND
Rand Mining Limited
2.17
0.52
31.75%
AU:DLI
Delta Lithium Limited
0.22
0.05
30.30%
Kaiser Reef Ltd Corporate Events
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...
Kaiser Reef Gains Full Exposure to Surging Gold Price After Completing Auramet Call Options
Mar 1, 2026
Kaiser Reef has completed delivery of all 6,000 gold call options issued to financier Auramet International at A$5,300 per ounce as part of funding its 2025 acquisition of the Henty Gold Mine. With these options fully exercised and settled, the co...
Kaiser Reef Clears On-Sale of 3 Million New Shares Under Corporations Act Exemption
Feb 25, 2026
Kaiser Reef has issued 3,000,000 fully paid ordinary shares following the exercise of unlisted options and has lodged the necessary notice under section 708A(5) of the Corporations Act 2001. By providing this notice, the company confirms that thes...
Kaiser Reef Seeks ASX Quotation for 3 Million New Shares
Feb 25, 2026
Kaiser Reef Ltd has lodged an application with the ASX for the quotation of 3,000,000 new ordinary fully paid shares under its existing ticker KAU, with an issue date of 24 February 2026. The new securities arise from the exercise or conversion of...
Kaiser Reef Converts Union Hill Waste Dumps into Long-Life Stockpile at Maldon
Feb 11, 2026
Kaiser Reef has reclassified the historical Union Hill waste dumps at its Maldon Gold Project into an inferred low-grade stockpile estimated at 566,000 tonnes grading 0.48 grams per tonne gold, containing about 8,649 ounces. This stockpile is alre...
Kaiser Reef Lifts Cash, Grows Henty Reserves and Advances Drilling in Strong December Quarter
Jan 30, 2026
Kaiser Reef reported a strong December 2025 quarter, delivering 6,946 ounces of gold and 6,526 ounces of silver from Henty and 715 ounces of gold from Maldon, while increasing its closing cash balance by A$13.7 million to A$43.1 million. The compa...
Kaiser Reef Seeks ASX Quotation for 2.5 Million New Shares
Jan 12, 2026
Kaiser Reef Limited has applied to the ASX for quotation of 2.5 million fully paid ordinary shares, with the security code KAU. The new shares, issued on 9 January 2026 following the exercise or conversion of existing options or other convertible ...
Kaiser Reef Director Increases Indirect Shareholding Through Rights Conversion
Jan 12, 2026
Kaiser Reef Limited has disclosed a change in director Steven Formica’s indirect holdings, reflecting the conversion of performance-based securities into ordinary equity. Formica, through a controlled entity, has converted 625,000 Tranche 1 ...
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.