Miramar Resources Limited (AU:M2R)
ASX:M2R
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Miramar Resources Limited
(Sydney:M2R)
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Rating:47Neutral
Price Target:
AU$0.01
▲(10.00% Upside)
Action:UpgradedDate:12/30/25
The score is primarily held back by weak financial performance: the company is pre-revenue with recurring losses and ongoing negative cash flow, indicating continued funding needs. This is partially mitigated by a low-risk capital structure with minimal debt, while technical and valuation assessments are limited due to missing indicator and valuation data.
Positive Factors
Strong Balance Sheet
A strong balance sheet with minimal debt reduces financial risk and provides flexibility for future investments and operations.
Negative Factors
Pre-Revenue Status
Being pre-revenue limits cash inflow and increases reliance on external funding, which can strain financial resources and delay profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Balance Sheet
A strong balance sheet with minimal debt reduces financial risk and provides flexibility for future investments and operations.
Read all positive factors
Miramar Resources Limited (M2R) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$6.33M
Dividend YieldN/A
Average Volume (3M)9.33M
Price to Earnings (P/E)―
Beta (1Y)2.32
Revenue GrowthN/A
EPS Growth73.55%
CountryAU
Employees1
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding2,109,589,800
10 Day Avg. Volume9,325,124
30 Day Avg. Volume9,325,124
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)0.15
Price to Sales (P/S)0.00
P/FCF Ratio-0.60
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)N/A
Miramar Resources Limited Business Overview & Revenue Model
Company Description
Miramar Resources Limited engages in the exploration and evaluation of mining tenements in Australia. The company primarily explores for gold, nickel, copper, and platinum group element deposits. It holds interests in three underexplored gold proj...
How the Company Makes Money
Miramar Resources Limited primarily makes money through the exploration and development of its mineral projects, with the ultimate goal of discovering commercially viable gold deposits. The company generates revenue by advancing its projects to a ...
Miramar Resources Limited Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
68
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 8.26K | 150.00K |
| Gross Profit | -68.63K | -87.69K | -51.39K | -127.96K | -128.49K | 119.35K |
| EBITDA | -651.12K | -1.02M | -1.22M | -1.35M | -1.24M | -987.63K |
| Net Income | -1.41M | -1.64M | -1.91M | -1.39M | -1.38M | -1.02M |
Balance Sheet | ||||||
| Total Assets | 11.50M | 11.25M | 9.36M | 9.10M | 9.51M | 8.52M |
| Cash, Cash Equivalents and Short-Term Investments | 727.64K | 1.13M | 414.11K | 435.47K | 3.39M | 5.14M |
| Total Debt | 15.21K | 33.13K | 22.02K | 33.91K | 82.25K | 63.64K |
| Total Liabilities | 596.59K | 835.67K | 395.11K | 307.96K | 542.10K | 707.30K |
| Stockholders Equity | 10.90M | 10.41M | 8.96M | 8.79M | 8.97M | 7.81M |
Cash Flow | ||||||
| Free Cash Flow | -1.91M | -2.60M | -2.08M | -3.94M | -3.83M | -2.66M |
| Operating Cash Flow | -946.42K | -596.51K | -797.50K | -1.26M | -1.05M | -657.63K |
| Investing Cash Flow | -1.25M | -1.72M | -1.09M | -2.68M | -2.78M | -1.95M |
| Financing Cash Flow | 2.69M | 3.02M | 1.88M | 1.00M | 2.11M | 7.34M |
Miramar Resources 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% | |
47 Neutral | AU$6.33M | -1.25 | -13.20% | ― | ― | 73.55% | |
45 Neutral | AU$11.17M | -7.05 | -7.48% | ― | ― | 12.20% | |
44 Neutral | AU$11.32M | -0.10 | -30.82% | ― | ― | -19.23% | |
44 Neutral | AU$6.26M | -1.02 | -148.04% | ― | ― | -7.41% | |
42 Neutral | AU$10.73M | -7.86 | -148.81% | ― | ― | 40.21% |
* Basic Materials Sector Average
AU:M2R
Miramar Resources Limited
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―
―
AU:SER
Strategic Energy Resources Limited
0.20
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Genesis Resources Limited
0.01
0.00
0.00%
AU:EMU
Emu NL
0.03
<0.01
38.89%
Miramar Resources Limited Corporate Events
Miramar Resources Updates Director’s Shareholding
Dec 15, 2025
Miramar Resources Limited has announced a change in the director’s interest notice, specifically involving Allan Kelly, a director and shareholder in multiple entities. The change involves the acquisition of 16,666,667 shares by Debnal Pty L...
Miramar Resources Updates Capital Structure with Successful Share Placement
Dec 12, 2025
Miramar Resources Limited has completed the Tranche 1 Placement of shares to existing shareholders and sophisticated investors, and has secured an additional $205,000 commitment for Tranche 2, pending shareholder approval in February 2026. The upd...
Miramar Resources Expands Share Issuance to Bolster Market Position
Dec 12, 2025
Miramar Resources Limited has issued a total of 315,397,467 fully paid ordinary shares, including Vendor Shares and New Shares, under the Corporations Act. This strategic move is part of an Option Agreement and a recent Placement, potentially enha...
Miramar Resources Appoints New Director with No Current Securities Interests
Dec 7, 2025
Miramar Resources Limited has announced the appointment of Jonathan Fisher as a director, effective from December 8, 2025. The company disclosed that Jonathan Fisher currently holds no relevant interests in securities, either as a registered holde...
Miramar Resources Announces Proposed Securities Issue
Dec 7, 2025
Miramar Resources Limited has announced a proposed issue of securities, including options expiring in February 2028 and ordinary fully paid shares, totaling 800 million securities. This move is part of a placement or other type of issue, with the ...
Miramar Resources Advances Gidji JV Gold Project
Dec 7, 2025
Miramar Resources Limited has provided an update on its Gidji JV Gold Project, highlighting the company’s ongoing efforts to advance this key initiative. The announcement underscores the company’s commitment to expanding its exploratio...
Miramar Resources Completes $1 Million Share Placement for Gidji Drilling Campaign
Dec 7, 2025
Miramar Resources Limited has successfully completed a $1 million share placement to fund a targeted RC drilling campaign at the Gidji JV Gold Project, scheduled for the first quarter of 2026. The campaign aims to explore high-priority gold target...
Miramar Resources Initiates Trading Halt Ahead of Capital Raising Announcement
Dec 3, 2025
Miramar Resources Limited, listed on the ASX under the ticker M2R, has requested a trading halt effective from December 4, 2025. This halt is intended to prevent uninformed trading and maintain an orderly market as the company prepares to announce...
Miramar Resources Faces ‘First Strike’ at 2025 AGM
Nov 27, 2025
Miramar Resources Limited announced the results of its 2025 Annual General Meeting, where all resolutions were decided by poll. Notably, the company experienced a ‘first strike’ as over 25% of votes were against the adoption of the 202...
Miramar Resources Advances Bangemall Project with Promising Discoveries
Nov 24, 2025
Miramar Resources Limited has announced an update on its Bangemall Project, highlighting the identification of multiple large late-time conductors that could indicate Norilsk-style copper-nickel-PGE sulphide mineralisation. Despite not proceeding ...
Miramar Resources Announces Director’s Interest Change
Nov 4, 2025
Miramar Resources Limited has announced a change in the director’s interest notice, specifically concerning Allan Kelly, a director and shareholder of XGS Pty Ltd and Allorah Pty Ltd. The change involves the expiry of 500,000 unlisted option...
Miramar Resources Limited Announces Cessation of Securities
Nov 4, 2025
Miramar Resources Limited announced the cessation of 1,500,000 securities due to the expiry of options that were not exercised or converted by the deadline of November 3, 2025. This cessation of securities may impact the company’s capital st...
Miramar Resources Secures Drilling Approval for Promising SEDEX Prospect
Oct 29, 2025
Miramar Resources Limited has received approval for a drilling program at the Joy Helen prospect within the Chain Pool Project in Western Australia. The prospect shows significant potential for high-grade SEDEX mineralisation, with historic rock c...
Miramar Resources Schedules AGM with Key Resolutions on Agenda
Oct 24, 2025
Miramar Resources Limited has announced its upcoming Annual General Meeting scheduled for November 27, 2025, in South Perth. The meeting will cover several key resolutions including the adoption of the remuneration report, re-election of a directo...
Miramar Resources Announces Proposed Securities Issue
Oct 24, 2025
Miramar Resources Limited announced a proposed issue of up to 188,607,913 ordinary fully paid securities, scheduled for February 27, 2026. This move is expected to support the company’s strategic initiatives and potentially enhance its marke...
Miramar Resources Secures Full Interest in Randalls Project Licence
Oct 23, 2025
Miramar Resources Limited has exercised its option to acquire a 100% interest in Exploration Licence Application E25/654, a key condition in the binding sale agreement for the Randalls Project to Future Battery Minerals Ltd. This strategic move is...
Future Battery Minerals Secures Option to Acquire Randalls Gold Project
Oct 21, 2025
Future Battery Minerals Ltd, a company focused on expanding its gold and lithium projects, has entered into a binding agreement to acquire the Randalls Gold Project in Western Australia from Miramar Resources. This strategic move enhances FBM̵...
Miramar Resources Sells Randalls Project to Focus on Key Exploration Areas
Oct 21, 2025
Miramar Resources Limited has entered into a binding sale agreement to divest its Randalls Project to Future Battery Minerals Ltd for up to $800,000 in cash, shares, and deferred milestone payments. This strategic move allows Miramar to concentrat...
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.