Magnetic Resources NL (MAU) AI Stock Analysis

• Market Cap: AU$477.16M
• Dividend Yield: N/A
• Average Volume (3M): 463.94K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.15
• Revenue Growth: -100.00%
• EPS Growth: -6.00%
• Country: AU
• Employees: 2
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): -0.03
• Shares Outstanding: 295,454,530
• 10 Day Avg. Volume: 242,122
• 30 Day Avg. Volume: 463,944
• PEG Ratio: -16.71
• Price to Book (P/B): 58.04
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -33.46
• 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: AU$4.00
• Price Target Upside: 159.74% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 53 Neutral
• Price Target: AU$1.50 ▼(-2.60% Downside)

The score is primarily held back by weak financial performance—no FY2025 revenue, widening losses, and significant cash burn—despite a low-leverage balance sheet. Technicals provide meaningful support with the stock trading above key moving averages and positive momentum indicators. Valuation is neutral-to-weak since the negative P/E reflects ongoing losses and there is no dividend yield support.

Positive Factors

Zero Net Debt

A zero-debt balance sheet materially lowers bankruptcy and interest-rate risk for an exploration company. This durable financial flexibility makes it easier to raise equity or structure JV funding on favorable terms, preserving runway and strategic optionality over multiple funding cycles.

Positive Equity and Asset Base

A positive equity cushion and tangible asset base provide a lasting buffer against exploration write-offs and operating losses. This supports credibility with counterparties and potential farm-out partners, enabling project advancement or monetisation without immediate insolvency pressure.

Focused WA Gold Exploration

Concentrating exploration in Western Australia gives enduring operational advantages: established mining infrastructure, skilled service providers, and clearer permitting pathways. These structural benefits improve the odds of efficient project delineation and eventual development or JV transactions.

Negative Factors

Pre-Revenue Status

Having no revenue in FY2025 means the business lacks an operating cash engine and remains entirely dependent on external capital and exploration success. Over months, this limits ability to demonstrate commercial viability and increases dilution risk if discoveries or monetisation are delayed.

High Cash Burn

Sustained negative operating and free cash flow at this scale is a structural weakness: it rapidly consumes equity, forces frequent capital raises, and constrains continuity of drilling programs. Without discovery or external funding, the burn profile threatens the company’s ability to advance projects long-term.

Widening Net Losses

Growing net losses reflect a cost base not yet matched by operating scale or revenue. Persistently negative profitability erodes shareholder equity over time, complicates fundraising, and can deter partners; long-term viability hinges on either commercial discovery or material operational turnaround.

Magnetic Resources NL Business Overview & Revenue Model

Company Description

Magnetic Resources NL explores mineral tenements in Western Australia. It primarily explores for gold, nickel, copper, platinum group element, and iron deposits. The company holds 100% interests in the Laverton region comprising Hawks Nest, Mt Jumbo, Hawks Nest East, Mt Ajax, Mt Jumbo East, Little Well, Kowtah, and Lady Julie projects covering an area of approximately 261 square kilometers; and the Benjabbering, Trayning, Goddard, and Korrelocking projects covering an area of approximately 322 square kilometers. It also holds interest in various projects and tenements located in Leonora–Laverton region, as well as focuses on the Kauring, Ragged Rock, and Mount Joy projects. Magnetic Resources NL was incorporated in 2006 and is based in West Perth, Australia.

How the Company Makes Money

Magnetic Resources NL generates revenue primarily through the exploration and potential development of mineral resources. The company's revenue model is centered around the discovery and subsequent sale or joint venture of its mining projects. Key revenue streams include the licensing or sale of mining tenements and potential royalties from developed properties. Additionally, partnerships with larger mining companies may provide upfront payments, funding for exploration, or a share in future profits, contributing significantly to its earnings. The company may also engage in raising capital through equity financing to fund its exploration activities.

Magnetic Resources NL Financial Statement Overview

Summary

Overall financial profile is weak: FY2025 revenue fell to zero, losses widened (net loss ~14.2m), and cash burn remained heavy (operating/FCF ~-12.1m). The main positive is a low-risk capital structure with no debt and positive equity (~7.0m), but ongoing losses and funding dependence materially constrain the score.

Income Statement

The company remains pre-revenue/early-stage, with revenue dropping to zero in FY2025 after a small base in FY2024. Losses are substantial and widening (net loss of ~14.2m in FY2025 vs ~12.3m in FY2024), indicating a cost structure that is not yet supported by operating scale. Margins are not meaningful in FY2025 given zero revenue, and prior-year profitability metrics were deeply negative despite high gross margin on limited revenue.

Balance Sheet

The balance sheet is conservatively levered, with total debt at zero in FY2025 and very low debt levels historically, which reduces financial risk. Equity is positive (~7.0m in FY2025) and assets are ~8.4m, supporting funding flexibility. The key weakness is persistently negative returns on equity, reflecting ongoing losses that can erode the capital base over time if not offset by new funding or improved operating results.

Cash Flow

Cash generation is weak, with operating cash flow materially negative in FY2025 (~-12.1m) and free cash flow also negative (~-12.1m), implying heavy cash burn. Free cash flow deteriorated versus FY2024, and cash outflows are large relative to net losses (free cash flow broadly in line with net loss in FY2025), suggesting limited near-term self-funding capacity. A positive is that the company has not relied on debt to fund these outflows, but the burn rate remains the central risk.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	502.97K	480.00	240.00K	501.60K
Gross Profit	-12.85K	-12.85K	498.46K	-27.23K	240.00K	501.60K
EBITDA	-14.27M	-14.21M	-12.34M	-7.11M	-7.63M	-8.59M
Net Income	-14.22M	-14.22M	-12.34M	-7.14M	-7.66M	-8.63M
Balance Sheet
Total Assets	8.38M	8.38M	9.74M	4.49M	2.55M	7.46M
Cash, Cash Equivalents and Short-Term Investments	7.92M	7.92M	9.22M	4.10M	2.03M	6.99M
Total Debt	0.00	0.00	258.82K	220.85K	0.00	14.71K
Total Liabilities	1.40M	1.40M	885.76K	786.79K	372.18K	332.81K
Stockholders Equity	6.98M	6.98M	8.85M	3.70M	2.18M	7.12M
Cash Flow
Free Cash Flow	-12.28M	-12.10M	-11.37M	-5.88M	-7.59M	-6.84M
Operating Cash Flow	-12.08M	-12.08M	-2.04M	-1.33M	-1.13M	-1.22M
Investing Cash Flow	-209.21K	-209.21K	-8.83M	-4.55M	-6.47M	-5.12M
Financing Cash Flow	10.98M	10.98M	15.99M	7.95M	2.63M	9.27M

Magnetic Resources NL Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.54
• 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:MAU, the sentiment is Positive. The current price of 1.54 is above the 20-day moving average (MA) of 1.44, above the 50-day MA of 1.33, and above the 200-day MA of 1.43, indicating a bullish trend. The MACD of 0.07 indicates Negative momentum. The RSI at 58.89 is Neutral, neither overbought nor oversold. The STOCH value of 53.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:MAU.

Magnetic Resources NL Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JMS	77 Outperform	AU$560.27M	13.97	7.01%	5.45%	16.86%	3.03%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
MAU	53 Neutral	AU$477.16M	-30.08	-179.67%	―	-100.00%	-6.00%
SVM	52 Neutral	AU$494.91M	-11.25	-90.12%	―	―	-98.20%
MMI	51 Neutral	AU$421.64M	2.90	145.87%	―	45.56%	―
ARU	50 Neutral	AU$1.12B	-28.05	-13.10%	―	―	82.10%
CAY	44 Neutral	AU$391.80M	-13.03	-45.39%	―	―	-91.89%

Magnetic Resources NL Corporate Events

Magnetic Resources Advances Lady Julie Gold Project Toward Shovel-Ready Status

Magnetic Resources has reported multiple new thick gold intersections from aggressive deep drilling within the high-grade cores of its Lady Julie North 4 deposit, increasing confidence in the northern portion of the resource and extending mineralisation at depth. As a result, the combined resource for the Lady Julie Gold Project has grown to 39.1Mt at 1.78g/t for 2.24Moz of gold, with more than 80% now in the Indicated category, and LJN4 alone holding 34.61Mt at 1.83g/t for 2.03Moz, confirming it as one of Western Australia’s largest and highest-grade undeveloped open-pit gold deposits. With feasibility study work completed, key mining and miscellaneous licences granted in 2025, and the underground mine design being updated to incorporate new high-grade zones and optimise capital and ore recovery, the project is moving toward a “shovel ready” status. At the same time, the company is engaged in due diligence processes with potential mining partners and financiers, signalling growing external interest in funding and developing the Lady Julie Gold Project and potentially accelerating its transition from explorer to producer.

The most recent analyst rating on (AU:MAU) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Magnetic Resources NL stock, see the AU:MAU Stock Forecast page.

Magnetic Resources Posts Quarterly Cash Outflows but Maintains Strong Cash Position After Capital Raising

Magnetic Resources NL reported a cash outflow of A$1.95 million from operating activities in the December 2025 quarter, driven mainly by A$1.09 million in exploration and evaluation spending and A$0.78 million in administration and corporate costs, partially offset by A$159,000 in interest income. The company also invested A$531,000 in property, plant and equipment over the quarter, taking total investing outflows to A$587,000 year to date, while no new equity was raised during the three months following a A$35 million capital injection earlier in the year. As a result, Magnetic ended the quarter with cash and cash equivalents of A$37.88 million, up sharply from A$7.92 million at the start of the financial year, providing a solid liquidity buffer to support its exploration programs and ongoing corporate commitments.

The most recent analyst rating on (AU:MAU) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Magnetic Resources NL stock, see the AU:MAU Stock Forecast page.

Magnetic Resources Lifts Lady Julie Gold Resource to 2.24Moz with Higher Confidence

Magnetic Resources NL has updated the Mineral Resource Estimate for its Lady Julie Gold Project following completion of several deep diamond drill holes at the LJN4 deposit, increasing the combined project resource to 39.1 million tonnes containing 2.24 million ounces of gold. More than 80% of this resource, including 82% of the key LJN4 deposit, is now classified in the Indicated category, reflecting higher confidence in the resource model and strengthening the project’s potential for large-scale open pit mining to 450 metres depth with additional underground potential at higher cut-off grades, thereby enhancing the company’s development options and project de-risking ahead of future feasibility work.

The most recent analyst rating on (AU:MAU) stock is a Buy with a A$3.98 price target. To see the full list of analyst forecasts on Magnetic Resources NL stock, see the AU:MAU Stock Forecast page.

Magnetic Resources Reaffirms Lady Julie Gold Project Assumptions and Resource Confidence

Magnetic Resources NL has reiterated details from its earlier work on the Lady Julie Gold Project, noting that its preliminary feasibility study demonstrates project value while drawing on a resource base comprising roughly 73% Indicated and 27% Inferred Mineral Resources. The company emphasises that only a small proportion of Inferred material is scheduled for mining in the initial years and that this does not materially affect the project’s technical and economic viability, but also highlights the inherent uncertainty associated with Inferred resources and the need for further drilling to upgrade these to Indicated status, underlining both the potential and the geological risk profile that stakeholders should consider.

The most recent analyst rating on (AU:MAU) stock is a Buy with a A$3.98 price target. To see the full list of analyst forecasts on Magnetic Resources NL stock, see the AU:MAU Stock Forecast page.

Magnetic Resources Lifts Lady Julie Gold Resource Above 2.24Moz

Magnetic Resources has reported a significant upgrade to the Mineral Resource Estimate at its Lady Julie Gold Project near Laverton, with the combined resource now exceeding 39.1 million tonnes containing 2.24 million ounces of gold, more than 80% of which sits in the higher-confidence Indicated category. The LJN4 deposit alone now accounts for more than 2 million ounces and is positioned as one of the largest and highest-grade undeveloped open pit gold deposits in Western Australia, bolstering confidence in the project’s feasibility and economics; with feasibility and permitting progressing and an extensive follow-up drill program under way to further expand resources, the company says it is moving rapidly toward a “shovel‑ready” development status, potentially enhancing value for stakeholders as the project advances toward production.

The most recent analyst rating on (AU:MAU) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Magnetic Resources NL stock, see the AU:MAU Stock Forecast page.

Magnetic Resources Reaffirms Resource Basis and Risks for Lady Julie Gold Project

Magnetic Resources NL has reiterated key outcomes from its previously released prefeasibility study (PFS) for the Lady Julie Gold Project, emphasising that its production targets and related financial forecasts are primarily underpinned by Indicated Mineral Resources, with Inferred Mineral Resources accounting for about 27% of the total. The company stresses that only a small portion of Inferred material is scheduled for mining in the early years and that the project’s technical and economic viability is not materially dependent on these lower-confidence resources, while also flagging the inherent uncertainty associated with Inferred Mineral Resources and its plans for further drilling to upgrade resource confidence, and highlighting the general risks and uncertainties associated with forward-looking statements in the mining sector.

The most recent analyst rating on (AU:MAU) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Magnetic Resources NL stock, see the AU:MAU Stock Forecast page.

Magnetic Resources’ Deep Drilling Points to Larger High-Grade Gold Resource at LJN4

Magnetic Resources NL has reported multiple thick, high-grade gold intersections from recent diamond drilling at its LJN4 deposit within the Laverton Project, which currently hosts a 1.94-million-ounce resource and forms part of a broader 2.14-million-ounce gold inventory. The latest infill and extension drilling across High-Grade Cores 3 and 4, as well as the southern breccia zone (HGC1), has returned strong gold grades at depth and along strike that are not yet included in the current resource, indicating scope for a significant resource upgrade and greater underground mining potential; additional planned holes will further test extensions and a possible fifth high-grade zone, reinforcing LJN4’s status as a near world-class deposit and potentially enhancing the project’s long-term value for stakeholders.

The most recent analyst rating on (AU:MAU) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Magnetic Resources NL stock, see the AU:MAU Stock Forecast page.

Magnetic Resources NL Announces Director’s Interest Change

Magnetic Resources NL has announced a change in the director’s interest notice, specifically involving Mr. Ben Donovan. The change includes the acquisition of 37,832 ordinary shares and the disposal of 750,000 unlisted options exercisable at $1.20, reflecting a strategic adjustment in Mr. Donovan’s holdings. This adjustment may influence the company’s stock dynamics and investor perceptions, as it indicates a shift in the director’s investment strategy.

The most recent analyst rating on (AU:MAU) stock is a Buy with a A$3.98 price target. To see the full list of analyst forecasts on Magnetic Resources NL stock, see the AU:MAU Stock Forecast page.

Magnetic Resources NL Director Adjusts Securities Holdings

Magnetic Resources NL has announced a change in the director’s interest in securities. Mr. Hian Siang Chan, a director, has converted 750,000 unlisted options into 37,832 ordinary shares using the Cashless Option Method, resulting in a new holding of 30,387,555 shares and 750,000 unlisted options exercisable at $1.53 on or before December 2026. This change reflects a strategic adjustment in the director’s investment, potentially impacting the company’s stock dynamics and investor perceptions.

The most recent analyst rating on (AU:MAU) stock is a Buy with a A$3.98 price target. To see the full list of analyst forecasts on Magnetic Resources NL stock, see the AU:MAU Stock Forecast page.

Magnetic Resources Announces Director’s Change in Securities Interests

Magnetic Resources NL has announced a change in the director’s interest, specifically involving George Sakalidis. The changes include the acquisition of 75,664 ordinary shares and the disposal of 1,500,000 unlisted options. This adjustment in the director’s holdings may impact the company’s stock dynamics and reflects strategic financial decisions by the management.

The most recent analyst rating on (AU:MAU) stock is a Buy with a A$3.98 price target. To see the full list of analyst forecasts on Magnetic Resources NL stock, see the AU:MAU Stock Forecast page.

Magnetic Resources NL Announces Director’s Interest Change

Magnetic Resources NL has announced a change in the director’s interest, specifically for Mr. Eric (Jin Huei) Lim. The change involved the acquisition of 37,832 ordinary shares and the disposal of 750,000 unlisted options exercisable at $1.20, resulting in a new holding of 16,730,560 shares and 750,000 unlisted options exercisable at $1.53. This adjustment reflects a strategic realignment in the director’s investment, potentially impacting the company’s governance and shareholder confidence.

The most recent analyst rating on (AU:MAU) stock is a Buy with a A$3.98 price target. To see the full list of analyst forecasts on Magnetic Resources NL stock, see the AU:MAU Stock Forecast page.

Magnetic Resources NL Issues New Shares Following Option Conversion

Magnetic Resources NL has issued 189,160 fully paid ordinary shares following the conversion of options exercisable at $1.20. This issuance was conducted without disclosure to investors under Part 6D.2 of the Corporations Act, and the company confirms compliance with relevant provisions of the Act. There is no excluded information that needs to be disclosed, ensuring transparency and informed decision-making for investors.

The most recent analyst rating on (AU:MAU) stock is a Buy with a A$3.98 price target. To see the full list of analyst forecasts on Magnetic Resources NL stock, see the AU:MAU Stock Forecast page.

Magnetic Resources NL Announces Cessation of Securities

Magnetic Resources NL announced the cessation of 3,560,840 securities due to the expiry of options that were not exercised or converted by the expiration date of December 6, 2025. This cessation of securities may impact the company’s capital structure and could have implications for stakeholders, as it reflects the company’s current financial and operational strategies within the mining industry.

The most recent analyst rating on (AU:MAU) stock is a Buy with a A$3.98 price target. To see the full list of analyst forecasts on Magnetic Resources NL stock, see the AU:MAU Stock Forecast page.

Magnetic Resources NL to Quote New Securities on ASX

Magnetic Resources NL has announced the application for the quotation of 189,160 new ordinary fully paid securities on the Australian Securities Exchange (ASX), with an issue date of December 3, 2025. This move is part of the company’s strategy to leverage financial instruments to support its operational growth and strengthen its market position, potentially impacting stakeholders by increasing the liquidity of its shares.

The most recent analyst rating on (AU:MAU) stock is a Buy with a A$3.98 price target. To see the full list of analyst forecasts on Magnetic Resources NL stock, see the AU:MAU Stock Forecast page.

Magnetic Resources NL Announces Promising Drilling Results at Laverton Project

Magnetic Resources NL has reported successful drilling results at its LJN4 site, part of the Laverton Project, revealing a significant intersection of 149.4 meters at 1.24 grams per ton of gold. The drilling has identified multiple high-grade core zones, suggesting a potential increase in the resource size and underground mining potential, which could enhance the company’s market position and offer promising returns for stakeholders.

The most recent analyst rating on (AU:MAU) stock is a Buy with a A$3.98 price target. To see the full list of analyst forecasts on Magnetic Resources NL stock, see the AU:MAU Stock Forecast page.

Magnetic Resources NL Reports Successful AGM Outcomes

Magnetic Resources NL announced the successful outcomes of its 2025 Annual General Meeting, where all proposed resolutions were passed by poll. This development reflects the company’s adherence to corporate governance standards and may positively influence its stakeholder relations and operational strategies.

The most recent analyst rating on (AU:MAU) stock is a Buy with a A$3.98 price target. To see the full list of analyst forecasts on Magnetic Resources NL stock, see the AU:MAU Stock Forecast page.

Magnetic Resources Confirms Viability of Lady Julie Gold Project

Magnetic Resources NL has presented information regarding its Lady Julie Gold Project, highlighting the project’s financial viability and production targets. The company has disclosed that the project comprises a mix of Indicated and Inferred Mineral Resources, with plans to convert more resources to the Indicated category through further drilling. The announcement underscores the company’s confidence in the project’s economic potential, despite the inherent uncertainties associated with Inferred Resources.

The most recent analyst rating on (AU:MAU) stock is a Buy with a A$3.98 price target. To see the full list of analyst forecasts on Magnetic Resources NL stock, see the AU:MAU Stock Forecast page.

Magnetic Resources Discovers Potential Fourth High-Grade Core Zone at LJN4

Magnetic Resources NL has announced the discovery of a potential fourth high-grade core zone at its LJN4 site, with follow-up drilling already underway. This development could significantly enhance the company’s resource base, potentially increasing the underground mining potential of the LJN4 deposit. The company has recently completed a $35 million capital raising to support ongoing drilling and feasibility study optimization, aimed at reducing capital expenditure and refining execution strategies.

The most recent analyst rating on (AU:MAU) stock is a Buy with a A$3.98 price target. To see the full list of analyst forecasts on Magnetic Resources NL stock, see the AU:MAU Stock Forecast page.