Kingston Resources Ltd. (KSN) AI Stock Analysis

• Market Cap: AU$105.03M
• Dividend Yield: N/A
• Average Volume (3M): 3.02M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.30
• Revenue Growth: 22.40%
• EPS Growth: -93.75%
• Country: AU
• Employees: 120
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): 0.00
• Shares Outstanding: 840,216,100
• 10 Day Avg. Volume: 3,021,729
• 30 Day Avg. Volume: 3,024,537
• PEG Ratio: -0.32
• Price to Book (P/B): 1.06
• Price to Sales (P/S): 2.15
• P/FCF Ratio: -9.92
• 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: 49 Neutral
• Price Target: AU$0.13 ▲(11.67% Upside)

The overall stock score is primarily influenced by financial performance, which shows strong revenue growth but weak profitability and cash flow. Technical analysis indicates a bearish trend with weak momentum. Valuation is unattractive due to negative earnings and lack of dividends.

Positive Factors

Revenue Growth

Sustained top-line expansion demonstrates successful exploration and progress toward commercialisation. Over the next 2-6 months this revenue trajectory supports continued project development spending and enhances prospects for scaling gold production, improving long-term operational leverage.

Balance Sheet Strength

Conservative leverage and a strong equity base reduce refinancing and liquidity risk for a capital-intensive miner. This durable financial position allows the company to fund exploration and joint ventures with less immediate pressure from creditors, supporting stability through commodity cycles.

Project-Level Margin

A high gross margin indicates attractive project-level economics for its gold activities, implying that once operating efficiencies improve the company can convert output into sustainable profits. Strong underlying unit economics provide a lasting buffer to commodity and input cost swings.

Negative Factors

Profitability

Despite revenue gains, persistent lack of operating profitability signals structural cost or scaling inefficiencies. Over months this undermines the company's ability to self-fund growth, increases reliance on external capital, and risks dilution or delayed project milestones if margins do not improve.

Free Cash Flow Weakness

A steep decline in free cash flow and poor conversion of income to cash constrain the firm's ability to invest, service obligations, or build reserves. For a development-stage miner, sustained weak FCF increases financing risk and can delay project advancement or force dilutive funding.

Return on Equity

Negative ROE indicates capital deployment has not translated into shareholder value. Even with a strong equity base, persistent negative returns question management's effectiveness at converting invested capital into profitable mining output, a structural concern for long-term investors.

Kingston Resources Ltd. Business Overview & Revenue Model

Company Description

Kingston Resources Limited engages in the exploration and evaluation of mineral properties in Australia. The company's projects include the Misima Gold project located in the Solomon Sea and Mineral Hill Mine project located in New South Wales. Kingston Resources Limited was incorporated in 1985 and is based in North Sydney, Australia.

How the Company Makes Money

Kingston Resources generates revenue primarily through the exploration and development of its mining projects, particularly in gold production. The company raises funds through equity financing, joint ventures, and partnerships with other mining firms, which allows it to finance exploration activities and advance its projects towards production. Additionally, any gold produced may be sold on the open market, contributing directly to revenue. Significant partnerships with other mining companies can also enhance its capabilities and market reach, providing further opportunities for income generation.

Kingston Resources Ltd. Financial Statement Overview

Summary

Kingston Resources Ltd. shows strong revenue growth but struggles with profitability and cash flow generation. The balance sheet is stable with low leverage, but the company needs to improve cost efficiency and cash flow management.

Income Statement

Kingston Resources Ltd. has shown impressive revenue growth of 59.62% in the latest year, indicating strong top-line expansion. However, the company is struggling with profitability, as evidenced by a negative net profit margin of -5.15%. The gross profit margin is healthy at 53.08%, but the EBIT margin is low at 0.43%, suggesting high operating expenses. Overall, while revenue growth is a positive sign, the company needs to improve its cost management to enhance profitability.

Balance Sheet

The balance sheet of Kingston Resources Ltd. is relatively stable with a low debt-to-equity ratio of 0.16, indicating conservative leverage. The equity ratio stands at 72.19%, reflecting a strong equity base. However, the company has not been able to generate positive returns on equity, as indicated by negative ROE in recent years. The financial position is stable, but the company needs to focus on improving its return on equity.

Cash Flow

The cash flow statement reveals challenges in generating free cash flow, with a significant decline of -50.53% in the latest year. The operating cash flow to net income ratio is 0.82, indicating decent cash generation relative to net income. However, the negative free cash flow to net income ratio of -0.81 highlights issues in converting earnings into free cash flow. The company needs to enhance its cash flow management to support future growth.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	48.08M	48.08M	39.28M	44.75M	11.90M	0.00
Gross Profit	25.52M	25.52M	17.58M	23.77M	1.09M	-39.83K
EBITDA	10.33M	10.33M	7.33M	14.26M	-1.93M	-1.92M
Net Income	-2.47M	-2.47M	-720.00K	9.81M	-2.09M	-1.96M
Balance Sheet
Total Assets	135.15M	135.15M	121.62M	111.42M	88.59M	42.34M
Cash, Cash Equivalents and Short-Term Investments	6.30M	6.30M	8.65M	18.48M	6.15M	11.24M
Total Debt	15.49M	15.49M	9.72M	9.63M	831.50K	51.19K
Total Liabilities	37.58M	37.58M	30.84M	34.97M	27.46M	1.61M
Stockholders Equity	97.57M	97.57M	90.78M	76.45M	61.13M	40.73M
Cash Flow
Free Cash Flow	-10.41M	-10.41M	-17.53M	3.87M	-16.72M	-9.90M
Operating Cash Flow	12.90M	12.90M	5.88M	15.49M	2.98M	-1.39M
Investing Cash Flow	-23.28M	-23.28M	-29.24M	-16.78M	-21.96M	-8.56M
Financing Cash Flow	8.28M	8.28M	13.51M	13.91M	13.55M	14.46M

Kingston Resources Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.12
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:KSN, the sentiment is Positive. The current price of 0.12 is below the 20-day moving average (MA) of 0.13, below the 50-day MA of 0.12, and below the 200-day MA of 0.12, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 56.91 is Neutral, neither overbought nor oversold. The STOCH value of 38.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:KSN.

Kingston Resources Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RND	80 Outperform	AU$144.46M	11.00	13.04%	4.01%	24.48%	97.18%
FML	68 Neutral	AU$1.04B	24.12	22.29%	―	117.95%	―
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
TTM	53 Neutral	AU$254.12M	-17.63	-13.03%	―	―	―
KSN	49 Neutral	AU$105.03M	-43.55	-2.72%	―	22.40%	-93.75%
VTM	47 Neutral	AU$150.81M	-36.62	-27.81%	―	―	-35.98%
KAU	46 Neutral	AU$181.14M	-6.25	-43.66%	―	46.74%	-47.98%

Kingston Resources Ltd. Corporate Events

Kingston Resources Seeks ASX Quotation for 617,455 New Shares

Kingston Resources Limited has applied to the ASX for quotation of 617,455 new fully paid ordinary shares, issued following the exercise or conversion of existing options or other convertible securities. The additional share quotation slightly enlarges the company’s listed capital base and reflects ongoing conversion of securities, but the announcement provides no further detail on use of proceeds or strategic implications for operations or stakeholders.

The most recent analyst rating on (AU:KSN) stock is a Hold with a A$0.12 price target. To see the full list of analyst forecasts on Kingston Resources Ltd. stock, see the AU:KSN Stock Forecast page.

Kingston Resources Lists New Securities on ASX

Kingston Resources Limited has announced the quotation of 175,762 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of December 15, 2025. This move is part of the company’s strategy to leverage convertible securities, potentially strengthening its capital structure and providing additional resources for its ongoing projects, which could positively impact its market positioning and stakeholder interests.

The most recent analyst rating on (AU:KSN) stock is a Hold with a A$0.11 price target. To see the full list of analyst forecasts on Kingston Resources Ltd. stock, see the AU:KSN Stock Forecast page.

Kingston Resources Confirms High-Grade Copper-Gold at Mineral Hill

Kingston Resources Limited has announced promising assay results from its drilling operations at the Southern Ore Zone (SOZ) of Mineral Hill, confirming high-grade gold and copper mineralization. These results enhance the geological model’s confidence and suggest potential resource growth beyond the current resource areas. The company is preparing for underground ore mining and plans to focus on extensional drilling to expand resource size, with ongoing efforts to incorporate new findings into their mine plans.

The most recent analyst rating on (AU:KSN) stock is a Hold with a A$0.11 price target. To see the full list of analyst forecasts on Kingston Resources Ltd. stock, see the AU:KSN Stock Forecast page.

Kingston Resources Announces Director’s Interest Change

Kingston Resources Ltd. has announced a change in the director’s interest, specifically involving Mick Wilkes. The change includes an off-market transfer of 3,945,679 fully paid ordinary shares from Eligius Holdings Pty Ltd to Mick Wilkes, and the issuance of 369,333 FY26 Unlisted Service Fee Options under the Employee Incentive Scheme, approved at the recent AGM. This adjustment in director’s interest reflects internal restructuring and alignment with the company’s strategic goals, potentially impacting the company’s governance and stakeholder confidence.

The most recent analyst rating on (AU:KSN) stock is a Hold with a A$0.11 price target. To see the full list of analyst forecasts on Kingston Resources Ltd. stock, see the AU:KSN Stock Forecast page.

Kingston Resources Issues Unquoted Equity Securities for Employee Incentives

Kingston Resources Limited has announced the issuance of unquoted equity securities as part of its employee incentive scheme. These securities include FY26 Unlisted Service Fee Options, Long Term Share Price Outperformance Options, and Short Term Incentive Performance Options, with varying expiration dates. This move is likely aimed at motivating and retaining employees by aligning their interests with the company’s long-term performance goals.

The most recent analyst rating on (AU:KSN) stock is a Hold with a A$0.11 price target. To see the full list of analyst forecasts on Kingston Resources Ltd. stock, see the AU:KSN Stock Forecast page.

Kingston Resources AGM Results: Key Resolutions Passed

Kingston Resources Limited announced the results of its Annual General Meeting, where all resolutions were decided by poll. Key outcomes included the adoption of the Remuneration Report and the re-election of Mr. Anthony Wehby as Director, both of which received strong support. However, the proposal for ASX Listing Rule 7.1A approval for future issue of securities was not carried. The meeting also approved the issuance of various incentive options to key directors, indicating a focus on aligning management incentives with shareholder interests.

Kingston Resources Outlines Strategic Focus at AGM

Kingston Resources Limited held its Annual General Meeting, presenting its ongoing operations and future plans in the Cobar Basin. The company’s focus on gold and copper production positions it strategically within the mining sector, potentially impacting stakeholders by enhancing operational efficiencies and market presence.

Kingston Resources Launches New Drilling Phase at Mineral Hill

Kingston Resources Limited has commenced a new phase of drilling at its Mineral Hill Mine, deploying two drill rigs to enhance resource definition and discovery. The underground drilling will target high-grade extensions at the Southern Ore Zone, while surface drilling will explore near-mine discovery potential. This initiative is part of Kingston’s growth strategy, aiming to expand its resource base and strengthen its market position.

Kingston Resources Corrects AGM Notice Error

Kingston Resources Limited has issued a correction to its Notice of Annual General Meeting, initially published on 28 October 2025. The correction addresses an error in the stated share price, which was incorrectly listed as $0.016 instead of $0.16, leading to an understatement of the ‘Funds raised’ figures by a factor of 10. This correction does not affect any other part of the Notice or the resolutions proposed, ensuring stakeholders that the overall meeting agenda remains unchanged.

Kingston Resources Announces Shareholder Webinar on Mineral Hill Progress

Kingston Resources Limited has announced an upcoming webinar to be conducted by Managing Director Andrew Corbett, which will cover the progress at their Mineral Hill project and discuss recent quarterly results. This webinar, scheduled for release on November 11, 2025, aims to engage shareholders and interested parties by allowing them to submit questions in advance, reflecting the company’s commitment to transparency and stakeholder engagement.

Kingston Resources to Host Webinar on Mineral Hill Progress and Quarterly Results

Kingston Resources Limited is hosting a webinar to discuss progress at Mineral Hill and recent quarterly results, inviting shareholders to submit questions in advance. The company’s focus is on extending the life of its Mineral Hill mine through organic growth and exploring regional deposits for processing at its existing plant, with a mine plan extending to 2031 and significant exploration potential.

Kingston Resources Reports Positive Cash Flow Amid Strategic Financial Moves

Kingston Resources Limited’s quarterly cash flow report reveals a net cash increase driven by substantial proceeds from the disposal of entities, despite operating and financing activities resulting in cash outflows. The company’s strategic financial maneuvers, including the repayment of borrowings and proceeds from concentrate sales, indicate an active approach to managing its financial health, which could impact its operational capabilities and investor confidence.

Kingston Resources Reports Strong Financials and Production Growth

Kingston Resources Ltd. reported a strong financial position with $31 million in cash and no debt, alongside a 10% increase in revenue to $15.8 million for the quarter ending September 2025. The company achieved a 3% increase in gold production and a 64% rise in silver sales, with significant improvements in processing throughput and cost reductions. The commissioning of a concentrate flotation plant and advancements in underground mining preparations are set to enhance production capabilities. The strategic focus on transitioning to flotation processing and accessing higher-grade ore is expected to boost gold and silver output in the second half of FY26, positioning Kingston for growth and exploration opportunities.

Kingston Resources Announces 2025 AGM Details

Kingston Resources Ltd. has announced the details of its 2025 Annual General Meeting, including the Notice of Meeting, Proxy Form, and Letter of Access. This announcement is part of the company’s ongoing efforts to engage with shareholders and provide transparency in its operations, which could influence stakeholder decisions and company governance.