Kingsrose Mining Ltd (KRM) AI Stock Analysis

• Market Cap: AU$29.39M
• Dividend Yield: N/A
• Average Volume (3M): 661.58K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.31
• Revenue Growth: N/A
• EPS Growth: -48.72%
• Country: AU
• Employees: 22
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): >-0.01
• Shares Outstanding: 753,526,500
• 10 Day Avg. Volume: 534,846
• 30 Day Avg. Volume: 661,579
• PEG Ratio: -0.11
• Price to Book (P/B): 0.87
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -12.34
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: AU$0.04 ▼(-5.00% Downside)
• Action: Reiterated Date: 02/07/26
• Date: Action: Reiterated 02/07/26

The score is primarily constrained by weak financial performance: multi-year losses, zero reported revenue in recent periods, and sustained negative operating/free cash flow. Technicals are also soft (below key moving averages with negative MACD), while valuation remains challenged due to a negative P/E and no indicated dividend support.

Positive Factors

Low leverage

Sustained very low debt reduces solvency and interest burden, giving the company structural financial flexibility. For an exploration business this lowers default risk, preserves optionality for JV or farm‑out financing, and supports multi‑month funding runway during capital cycles.

Exploration-focused model

A pure exploration and development business model provides optionality: successful discoveries materially revalue assets while allowing capital-light progression via partner deals. This structural focus fits industry funding norms and can deliver step changes in asset value if exploration is successful.

Improving cash burn trend

A reduction in negative free cash flow signals improving cash management or lower cash outlays, which can extend runway without immediate financing. If sustained, the trend supports a more durable path to funding exploration programs and reduces near‑term dilution risk from capital raises.

Negative Factors

Zero reported revenue

No reported revenue across multiple years means the business lacks operational cash inflows and must rely on external financing or asset sales. This structural absence of revenue constrains sustainable operations, increases funding dependency, and weakens valuation and investor confidence over months.

Persistent losses and cash burn

Ongoing net losses and negative operating and free cash flows indicate the company is burning cash to fund activities. Over a multi‑month horizon this raises dilution risk, limits ability to self‑fund exploration, and forces management to secure financing under potentially adverse terms.

Eroding equity and negative ROE

Material declines in equity and persistent negative ROE show capital erosion and poor capital productivity. This structural deterioration reduces balance sheet capacity to absorb shocks, weakens borrowing or JV leverage, and signals long‑term difficulty converting invested capital into returns.

Kingsrose Mining Ltd Business Overview & Revenue Model

Company Description

Kingsrose Mining Limited operates as an exploration company in Norway, Finland, and Indonesia. It explores for PGE-nickel-copper, gold, and silver properties. The company holds a 100% interest in the Penikat Project located in western Finland and the Porsanger project in Norway. It also holds 85% interest in the Way Linggo project located in South Sumatra, Indonesia. The company was incorporated in 2005 and is based in West Perth, Australia.

How the Company Makes Money

Kingsrose Mining Ltd generates revenue primarily through the extraction and sale of gold and other precious metals. The company's key revenue streams include the production of gold from its mining operations and the sale of extracted metals to refineries and other buyers in the global market. Partnerships with local and international mining companies and stakeholders may also contribute to its earnings, as they can enhance operational efficiencies and market access. Additionally, fluctuations in global commodity prices and effective cost management play significant roles in its profitability.

Kingsrose Mining Ltd Financial Statement Overview

Summary

Financial quality is pressured by multiple years of zero reported revenue, persistent net losses, and negative operating/free cash flow (2022–2025), indicating ongoing cash burn. This is partially offset by a conservatively levered balance sheet with very low debt, though equity has declined and ROE remains negative.

Income Statement

Profitability has deteriorated materially from 2020 (strong revenue and positive earnings) to multiple subsequent annual periods with no reported revenue and persistent losses. Losses widened again in 2025 (annual) versus 2024, and returns on the business remain negative, indicating weak operating leverage and limited near-term earnings visibility.

Balance Sheet

The balance sheet is conservatively levered with very low debt relative to equity across periods, reducing solvency risk. However, equity has trended down meaningfully from 2021–2025 (annual), and negative returns on equity in recent years show capital is not currently generating profits, which is a key weakness despite low leverage.

Cash Flow

Cash generation has turned negative: operating cash flow and free cash flow are negative in 2022–2025 (annual), implying ongoing cash burn and funding dependence. While 2025 free cash flow is less negative than 2024, cash flows still do not support profitability or self-funding operations, and cash conversion remains weak in the loss-making periods.

Breakdown	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	18.38M
Gross Profit	-157.64K	-158.84K	-94.12K	-95.14K	6.62M
EBITDA	-6.18M	-7.39M	-2.20M	-1.78M	-6.17M
Net Income	-4.39M	-2.95M	-1.34M	-10.71M	-6.61M
Balance Sheet
Total Assets	34.21M	40.51M	41.38M	45.47M	52.91M
Cash, Cash Equivalents and Short-Term Investments	27.29M	28.87M	33.84M	27.63M	30.57M
Total Debt	408.26K	64.75K	132.47K	275.23K	6.29K
Total Liabilities	7.88M	3.99M	1.44M	3.60M	2.76M
Stockholders Equity	26.09M	36.99M	39.94M	40.15M	48.39M
Cash Flow
Free Cash Flow	-1.84M	-4.81M	-4.75M	-5.13M	9.85M
Operating Cash Flow	-1.70M	-761.58K	-3.90M	-4.29M	9.94M
Investing Cash Flow	-67.46K	-4.05M	9.09M	-1.13M	-67.64K
Financing Cash Flow	-80.73K	-67.72K	-50.60K	135.35K	-77.18K

Kingsrose Mining Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.04
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:KRM, the sentiment is Negative. The current price of 0.04 is equal to the 20-day moving average (MA) of 0.04, below the 50-day MA of 0.04, and above the 200-day MA of 0.04, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 47.70 is Neutral, neither overbought nor oversold. The STOCH value of 88.89 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:KRM.

Kingsrose Mining Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
AQI	50 Neutral	AU$369.12M	-172.73	-26.54%	―	―	87.21%
KZR	47 Neutral	AU$59.68M	-8.64	-20.41%	―	400.00%	21.71%
KRM	44 Neutral	AU$29.39M	-6.72	-13.91%	―	―	-48.72%
WGR	43 Neutral	AU$61.46M	-15.33	-184.34%	―	―	40.17%
MAG	41 Neutral	AU$21.60M	-8.27	-25.89%	―	―	47.47%

Kingsrose Mining Ltd Corporate Events

Kingsrose Mining Options Expire Unexercised, Simplifying Capital Structure

Kingsrose Mining Ltd has confirmed the expiry of 5,000,000 listed options with an exercise price of A$0.059, which lapsed unexercised on 8 February 2026. The cessation of these options marginally simplifies the company’s capital structure and removes a potential source of future share dilution, clarifying the equity base for existing shareholders.

The most recent analyst rating on (AU:KRM) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Kingsrose Mining Ltd stock, see the AU:KRM Stock Forecast page.

Kingsrose maps new permitting path to 2026 drilling at Finnish PGE project

Kingsrose Mining has outlined new permitting pathways that could allow drilling to commence at its Penikat PGE project in Finland in December 2026, despite recent legal setbacks. Following consultations with regulators and advisers, the company plans to seek Enforcement Orders over Areas 4 and 5 under the revised Finnish Mining Act and to carve out a new Area 6 outside Natura 2000 and mire protection zones, where more than 50 drill collars are planned and appeals are considered less likely.

The company’s Area 1 permit was recently overturned by the Administrative Court of Northern Finland, but regulator Tukes is considering appealing, arguing the ruling overreaches and could materially affect the broader exploration sector and its regulatory role. While Enforcement Orders are not available for Areas 2 and 3 due to timing under the old law, Kingsrose is prioritising permitting in Areas 4, 5 and 6 to keep its December 2026 drilling timetable on track, underscoring management’s conviction in Penikat’s potential to become a world-class PGE project and the importance of regulatory outcomes for shareholders and the Finnish exploration industry.

The most recent analyst rating on (AU:KRM) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Kingsrose Mining Ltd stock, see the AU:KRM Stock Forecast page.

Kingsrose Advances Finnmark Targeting as Penikat Permitting Faces Setback but Cash Remains Strong

Kingsrose Mining’s December 2025 quarter centred on data integration and target generation across its BHP-funded Finnmark Alliance in Norway, where extensive airborne gravity and electromagnetic surveys, mapping and sampling are being used to prioritise 10–15 high-potential camp-scale targets for 2026 exploration. The company continues to strengthen relationships with local rightsholders, including reindeer herders, and is planning its 2026/27 work programs, while in Finland a court overturned the Penikat Area 1 exploration permit on technical administrative grounds and remanded it to the regulator for reconsideration; Kingsrose is now working with authorities and advisers to secure drilling approvals in Penikat Areas 4, 5 and potentially 6 from late 2026, as environmental review progresses positively and the group pursues new M&A opportunities, maintains a strong A$22.4m cash balance, and defers further work at Råna in response to weak nickel market conditions.

The most recent analyst rating on (AU:KRM) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Kingsrose Mining Ltd stock, see the AU:KRM Stock Forecast page.

Kingsrose Mining Trims Potential Dilution as 900,000 Performance Rights Expire

Kingsrose Mining Limited has notified the market that 900,000 share performance rights (ASX code KRMAAG) expired unexercised on 31 December 2025, resulting in a reduction in its pool of potential equity-linked securities. The cessation of these performance rights slightly simplifies the company’s capital structure and removes a portion of potential future dilution for existing shareholders, though it does not immediately affect the number of ordinary shares on issue.

The most recent analyst rating on (AU:KRM) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Kingsrose Mining Ltd stock, see the AU:KRM Stock Forecast page.

Kingsrose Hit by Finnish Court Setback but Remains Bullish on Tier-One Penikat PGE Potential

Kingsrose Mining has suffered a setback at its flagship Penikat PGE project in Finland after the Northern Finland Administrative Court overturned the state mining regulator Tukes’ decision to grant an exploration permit for Area 1, citing procedural and administrative errors by the regulator. While the court confirmed that Kingsrose’s Natura assessment and supporting studies adequately addressed environmental impacts and that the company had designed a low-impact drilling program with defined ‘no go areas’ and mitigation measures, it found that Tukes failed to publish the permit application in local newspapers, did not clearly translate key environmental protections into the permit conditions, and had insufficiently detailed the calculation of the required financial guarantee, forcing the permit back to Tukes for reconsideration and halting planned winter drilling. Kingsrose plans to work closely with Tukes and Finnish advisers to remedy the administrative issues by submitting a Derogation Permit application and a revised exploration permit, and is exploring whether recent amendments to Finland’s Mining Act will allow enforcement orders that could accelerate permitting timelines, with an update promised by April 2026. Despite the delay, acting CEO Terry Holohan reiterated confidence that Penikat could become a tier-one, high-grade PGE deposit and said lessons from this process will be applied across the company’s wider permit applications in the region, a key consideration for investors focused on regulatory risk and project timelines.