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Metal Bank Limited
(Sydney:MBK)
Metal Bank Limited (MBK) vs. iShares MSCI Australia ETF (EWA)
Metal Bank Limited Business Overview & Revenue Model
Metal Bank Limited Financial Statement Overview
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.62K | 0.00 | 18.69K | 835.00 | 106.28K |
| Gross Profit | 4.62K | -10.00K | 17.71K | -1.11K | -3.27K |
| EBITDA | -778.70K | -2.08M | -920.04K | -1.89M | -361.17K |
| Net Income | -2.12M | -2.22M | -7.05M | -1.89M | -364.44K |
Balance Sheet | |||||
| Total Assets | 15.77M | 16.27M | 14.40M | 22.63M | 10.97M |
| Cash, Cash Equivalents and Short-Term Investments | 396.35K | 794.66K | 767.59K | 5.69M | 1.00M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 359.69K | 630.16K | 398.33K | 2.29M | 166.23K |
| Stockholders Equity | 15.41M | 15.64M | 14.00M | 20.34M | 10.80M |
Cash Flow | |||||
| Free Cash Flow | -1.87M | -2.59M | -4.92M | -4.94M | -2.07M |
| Operating Cash Flow | -770.37K | -764.49K | -565.81K | -1.39M | -478.85K |
| Investing Cash Flow | -1.10M | -1.83M | -4.36M | -3.55M | -1.19M |
| Financing Cash Flow | 1.47M | 2.62M | 9.63M | 9.63M | 2.05M |
Metal Bank Limited Technical Analysis
Metal Bank Limited Peers Comparison
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% | |
52 Neutral | AU$13.07M | -10.00 | -10.51% | ― | ― | 15.38% | |
50 Neutral | AU$12.29M | -1.77 | ― | ― | ― | ― | |
49 Neutral | AU$21.03M | -5.81 | -13.63% | ― | ― | 31.75% | |
46 Neutral | AU$21.91M | -2.93 | -60.89% | ― | ― | 77.62% | |
44 Neutral | AU$12.32M | -20.00 | -48.18% | ― | ― | 95.24% |
Metal Bank Limited Corporate Events
Metal Bank Limited has reported a change in director Foon Keong Charles Lew’s relevant interest in the company’s securities, arising from a reconciliation of shares following an in-specie distribution of Metal Bank shares from Hastings Technology Metals. The update indicates no new acquisitions or disposals occurred, but the director’s total holding has been corrected to 8,747,372 ordinary shares held directly and indirectly through his spouse and custodial nominees, clarifying the accuracy of disclosed ownership for market stakeholders.
The revision reflects an administrative correction rather than a trading decision, suggesting no immediate shift in the director’s investment stance toward the company. Nonetheless, the clarified breakdown of direct and indirect holdings enhances transparency around insider ownership, which is closely watched by investors assessing governance and alignment of interests within the small-cap mining sector.
The most recent analyst rating on (AU:MBK) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Metal Bank Limited stock, see the AU:MBK Stock Forecast page.
Metal Bank has reported high-grade, near-surface graphite intersections from a four-hole diamond drilling campaign at its Millennium project in northwest Queensland, including broad zones adjacent to the existing copper-cobalt-gold resource pit design. The results, supported by earlier drilling, indicate laterally continuous graphite mineralisation over more than 2km of strike, open in all directions, and potentially amenable to low-strip ratio development pending further drilling and metallurgical work.
The company has begun preliminary metallurgical testing on recent graphite samples and is resampling historical core to better define the graphite’s distribution and characteristics. Management sees the graphite, which sits in the hangingwall of the planned pit and would previously have been waste, as a value-adding critical mineral that could enhance project economics and support its strategy to transition into mining, especially alongside an MOU for toll processing at Austral Resources’ nearby Rocklands mill.
The most recent analyst rating on (AU:MBK) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Metal Bank Limited stock, see the AU:MBK Stock Forecast page.
Metal Bank Limited has issued a correction to its Quarterly Cash Flow Report for the quarter ended 31 December 2025, clarifying that a qualifying statement previously included under the cash and cash equivalents section was added in error and did not relate to the company. The corrected report, now released with the erroneous statement removed, is intended to ensure accurate financial disclosure and maintain compliance with ASX reporting standards, providing greater clarity and reliability for investors and other stakeholders regarding the company’s quarterly cash position and cash flow activities.
The most recent analyst rating on (AU:MBK) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Metal Bank Limited stock, see the AU:MBK Stock Forecast page.
Metal Bank Limited has released an investor presentation dated 1 February 2026 outlining general information about its operations and projects, emphasising that the material is not a prospectus and does not constitute financial or investment advice. The document includes extensive disclaimers on the reliability and completeness of third-party data, the inherent uncertainties in forward-looking statements, and the conceptual nature of any exploration targets, while reaffirming that previously disclosed exploration results, mineral resource and ore reserve estimates remain current and are supported by competent person reports under ASX reporting standards.
The most recent analyst rating on (AU:MBK) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Metal Bank Limited stock, see the AU:MBK Stock Forecast page.
Metal Bank Limited reported its quarterly cash flow for the period ended 31 December 2025, showing no receipts from customers and operating cash outflows driven mainly by administration and corporate costs of $574,000 and exploration and evaluation spending of $283,000. Despite negative operating and investing cash flows, the company strengthened its cash position through $2.4 million in equity issuance and $300,000 in cash from the acquisition of a subsidiary, resulting in a net increase in cash to $1.973 million at quarter end, underscoring its continued dependence on capital markets to fund exploration activities and corporate operations.
The most recent analyst rating on (AU:MBK) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Metal Bank Limited stock, see the AU:MBK Stock Forecast page.
Metal Bank Limited has advanced its Western Australian gold strategy during the December 2025 quarter by completing the acquisition of Hastings Technology Metals’ gold assets, including the Whiteheads Project near Kalgoorlie, and progressing work at its Livingstone Gold Project. The company reports that Whiteheads is well positioned for potential fast-tracked production in 2026, supported by a maiden JORC resource at the Seven Leaders prospect and ongoing mine design, while Livingstone’s Homestead and Kingsley prospects are the subject of a continuing scoping study and a newly lodged mining lease application over the Homestead and Winja deposits, underpinned by a 122.6koz JORC 2012 resource that is within trucking distance of existing processing facilities. In Queensland, Metal Bank’s Millennium Co-Cu-Au-graphite project is advancing as a near-term critical minerals development opportunity, with drilling completed under a government-supported exploration initiative, samples submitted for assay, further metallurgical work planned to evaluate high-grade graphite alongside existing cobalt-copper-gold resources, and a new mining lease application lodged over 159 hectares to consolidate and expand its development footprint.
The most recent analyst rating on (AU:MBK) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Metal Bank Limited stock, see the AU:MBK Stock Forecast page.
Metal Bank Limited has launched an unmarketable parcel share sale facility for shareholders holding less than A$500 worth of fully paid ordinary shares as at 22 December 2025, enabling them to sell these small parcels without using a broker or incurring brokerage or handling fees, with the company covering the transaction costs other than any tax liabilities. The initiative, which affects 8,428 shareholders holding a combined 28,099,168 shares, is intended both to assist small investors and to streamline Metal Bank’s share register by reducing the administrative cost of maintaining a large number of very small holdings, with shareholders needing to return a retention form by 10 February 2026 if they wish to keep their shares.
Metal Bank Limited has announced a maiden JORC 2012 Mineral Resource Estimate for the Seven Leaders Prospect within the Whiteheads Gold Project, located near Kalgoorlie. The estimate reveals a resource of 138,000 tonnes at 1.4g/t Au for 6,300 ounces of gold, providing a foundation for the company’s expedited gold production strategy. This development is expected to streamline the mining proposal assessment and enable the company to self-fund future exploration campaigns. The recent drilling results have shown higher-than-expected grades, indicating potential for increased project economics and additional upside in mined grade. Metal Bank is also progressing with applications for mining leases at other deposits and plans further drilling in 2026, underscoring its strategy to produce gold to fund growth.
Metal Bank Limited has experienced a notable increase in its share price and trading volume, attributed to several recent developments. The company is in the process of finalizing a Mineral Resource Estimate for the Seven Leaders prospect at the Whiteheads Project, which has been well-publicized and is not considered the cause of the trading activity. Instead, the completion of the acquisition of gold assets from Hastings Technology Metals Limited and the application for a mining lease at the Livingstone Project, along with the distribution of consideration shares, are likely contributing factors. An announcement regarding the Mineral Resource Estimate is expected before market opening on December 15, 2025.
Metal Bank Limited has announced the appointment of Foon Keong Charles Lew as a director, effective December 5, 2025. Lew holds a significant interest in the company, with 8,332,912 ordinary shares registered in his name and an additional 514,752 shares indirectly held through his spouse, Ms. Xue Ni Tan. This appointment and the associated shareholding may influence the company’s strategic direction and stakeholder interests.
Hastings Technology Metals Ltd has completed the distribution of Metal Bank Limited shares to its shareholders, following the divestment of its gold assets. This strategic move, approved by shareholders, involved issuing over 160 million MBK shares to Hastings shareholders, with an adjusted exercise price for HASO options. This transaction marks a significant step in Hastings’ strategic focus, potentially impacting its financial structure and offering stakeholders an opportunity to benefit from Metal Bank’s prospects.
Metal Bank Limited has lodged a mining lease application for the Homestead and Winja gold deposits at its Livingstone Project in Western Australia, which together hold a JORC Resource of 1.129 million tonnes at 1.36g/t gold for 49.6 thousand ounces of gold. This move is part of the company’s strategy to fast-track these deposits to production, with scoping studies underway to ensure mining lease approvals are in place while finalizing associated works. The Homestead and Winja deposits represent a low capital cost opportunity to progress to mining, with further studies planned for the Kingsley deposit.
Metal Bank Limited has issued over 160 million fully paid ordinary shares to Hastings Technology Metals Ltd as part of its acquisition of gold assets from Hastings. This strategic move is expected to enhance Metal Bank’s asset portfolio and strengthen its position in the mining industry, potentially impacting stakeholders by increasing the company’s market value and operational capacity.
Metal Bank Limited has completed the acquisition of Hastings’ gold assets, including the Whiteheads, Ark, and Darcy’s projects, expanding its portfolio in Western Australia. The company has issued shares to Hastings as part of the acquisition and appointed Charles Lew as a non-executive director, enhancing its strategic leadership. This acquisition aligns with MBK’s strategy to fast-track its gold projects and advance the Whiteheads project towards production, potentially impacting its market position and offering growth opportunities for stakeholders.