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Middle Island Resources Limited
(Sydney:MDI)
Middle Island Resources Limited (MDI) vs. iShares MSCI Australia ETF (EWA)
Middle Island Resources Limited Business Overview & Revenue Model
Middle Island Resources Limited Financial Statement Overview
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 69.98K | 32.14K | 115.32K | 5.48K |
| Gross Profit | -20.32K | -29.99K | 69.98K | -1.77K | 111.18K | -29.06K |
| EBITDA | -2.19M | -2.02M | -1.63M | -5.26M | -3.51M | -6.79M |
| Net Income | -1.46M | -2.05M | -1.66M | -5.30M | -5.32M | -6.82M |
Balance Sheet | ||||||
| Total Assets | 22.33M | 3.18M | 4.12M | 3.98M | 9.31M | 7.33M |
| Cash, Cash Equivalents and Short-Term Investments | 4.71M | 2.40M | 3.35M | 2.78M | 4.99M | 3.56M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 13.95K | 69.84K |
| Total Liabilities | 349.37K | 177.43K | 151.52K | 106.98K | 146.45K | 1.80M |
| Stockholders Equity | 21.98M | 3.00M | 3.97M | 3.87M | 9.17M | 5.53M |
Cash Flow | ||||||
| Free Cash Flow | -2.24M | -2.07M | -1.87M | -5.16M | -3.35M | -7.11M |
| Operating Cash Flow | -2.24M | -2.02M | -1.62M | -5.16M | -3.27M | -7.11M |
| Investing Cash Flow | -58.33K | 1.38M | -179.95K | 585.00 | 4.91M | -509.42K |
| Financing Cash Flow | 3.45M | 1.08M | 1.09M | 0.00 | 0.00 | 5.58M |
Middle Island Resources Limited Technical Analysis
Middle Island Resources 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% | |
46 Neutral | AU$20.90M | -2.09 | -58.76% | ― | ― | 77.62% | |
44 Neutral | AU$10.95M | -3.87 | -34.21% | ― | ― | 95.24% | |
43 Neutral | AU$34.45M | -9.09 | -84.37% | ― | ― | 92.86% | |
42 Neutral | AU$32.78M | -6.56 | -11.72% | ― | ― | 23.08% | |
37 Underperform | AU$50.28M | -8.77 | -32.90% | ― | ― | 42.86% |
Middle Island Resources Limited Corporate Events
Middle Island Resources has appointed Sanela Karic as a director, effective 16 March 2026, and has lodged the required initial director’s interest notice with the ASX. Karic holds 10,000,000 unlisted options exercisable at $0.06 expiring 16 March 2029 and 7,500,000 performance rights expiring the same date, outlining her equity-linked incentives and aligning her interests with shareholder value.
The disclosure of Karic’s substantial options and performance rights package provides transparency for investors about potential future dilution and board-level incentives. This appointment and associated equity interests may influence the company’s governance dynamics and strategic direction as it advances its resource exploration and development activities.
The most recent analyst rating on (AU:MDI) stock is a Sell with a A$0.03 price target. To see the full list of analyst forecasts on Middle Island Resources Limited stock, see the AU:MDI Stock Forecast page.
Middle Island Resources Limited has issued 10 million unlisted options with an exercise price of $0.06 expiring on 16 March 2029, along with 7.5 million unlisted performance rights, both dated 17 March 2026. The new unquoted equity securities expand the company’s incentive and capital structure, likely aimed at aligning stakeholder interests and supporting the advancement of its exploration and development activities.
The most recent analyst rating on (AU:MDI) stock is a Sell with a A$0.03 price target. To see the full list of analyst forecasts on Middle Island Resources Limited stock, see the AU:MDI Stock Forecast page.
Middle Island Resources has appointed Ms Sanela Karic as a Non-Executive Director, adding an experienced legal, governance and corporate affairs professional with more than 25 years of international experience across Europe and the Balkans to its board. Karic, a qualified lawyer and former Executive Director of Legal Affairs at Bosnia and Herzegovina’s largest diversified industrial corporation, also brings listed-company board experience from Adriatic Metals and currently leads the Foreign Investors Council in Bosnia and Herzegovina.
Her appointment strengthens Middle Island’s governance, stakeholder engagement and regional networks as the company advances its Serbian project portfolio. Management highlighted that her combination of legal, commercial and sustainability committee experience, together with deep knowledge of the Balkans investment environment, is expected to support the company’s strategic growth and positioning in the region.
The most recent analyst rating on (AU:MDI) stock is a Sell with a A$0.03 price target. To see the full list of analyst forecasts on Middle Island Resources Limited stock, see the AU:MDI Stock Forecast page.
Middle Island Resources Limited has released its interim financial report for the half-year ended 31 December 2025, which is designed to be read alongside its full-year 2025 annual report. The document includes the directors’ report, audited financial statements, and related declarations, providing investors and regulators with an updated view of the company’s financial performance and position over the interim period.
The most recent analyst rating on (AU:MDI) stock is a Sell with a A$0.03 price target. To see the full list of analyst forecasts on Middle Island Resources Limited stock, see the AU:MDI Stock Forecast page.
Middle Island Resources has outlined a significant emerging gold target at the Zabrnjica Prospect within its 100%-owned Priboj Project in Serbia, where modern gold exploration has not previously been recorded. Soil sampling has defined a broad gold-in-soil anomaly extending roughly 600 metres by 200 metres, hosted in highly altered, quartz-veined sediments, and supported by rock chip assays of up to 1.91 grams per tonne gold.
The geological setting and alteration at Zabrnjica are consistent with large-scale replacement-style gold systems comparable to major intrusion-related deposits, prompting the company to plan an initial five-hole reverse circulation drilling program, subject to land access approval. These results strengthen Middle Island’s belief that Priboj offers meaningful first-mover discovery potential and could be transformative for its Serbian portfolio and broader positioning in the regional gold exploration sector.
The most recent analyst rating on (AU:MDI) stock is a Sell with a A$0.03 price target. To see the full list of analyst forecasts on Middle Island Resources Limited stock, see the AU:MDI Stock Forecast page.
Middle Island Resources Limited has announced the issue of 6 million unlisted performance rights, a form of equity-based incentive, expiring on 22 December 2028. The new securities, to be issued on 22 December 2025, expand the company’s pool of unquoted equity instruments and signal the use of long-dated performance-based rewards, which may affect future dilution for existing shareholders and align management or key personnel incentives with longer-term company performance.
The most recent analyst rating on (AU:MDI) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Middle Island Resources Limited stock, see the AU:MDI Stock Forecast page.
Middle Island Resources Limited has notified the market of its intention to issue 27,000,000 unlisted performance rights, expiring on 22 December 2028, with an issue date of 22 December 2025. The issuance of these unquoted performance rights forms part of the company’s broader capital management and incentive arrangements, potentially aligning management and key personnel with longer-term performance goals and influencing the company’s future ownership and remuneration structure for stakeholders.
The most recent analyst rating on (AU:MDI) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Middle Island Resources Limited stock, see the AU:MDI Stock Forecast page.
Middle Island Resources has disclosed changes in directors’ interests following the issue of performance rights to non-executive chairman Daniel Raihani and director Richie Yang, which were approved by shareholders at the company’s November 2025 annual general meeting and formally issued on 22 December 2025. The company acknowledged that the required Appendix 3Y notices were lodged late due to an internal administrative oversight during the Christmas period, but said the discrepancy was identified in an internal reconciliation and corrected as soon as possible, stressing that it views the matter as an isolated incident and believes its existing procedures and director awareness are adequate to ensure future compliance with ASX disclosure rules.
The most recent analyst rating on (AU:MDI) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Middle Island Resources Limited stock, see the AU:MDI Stock Forecast page.
Middle Island Resources has announced a change in director Daniel Raihani’s indirect interests, with his associated entity 7 Enterprises Pty Ltd purchasing 10 million additional shares on-market between 30 January and 3 February 2026 at an average price of $0.041394 per share. Following the transaction, Raihani’s indirect shareholding has increased from 61 million to 71 million shares while his unlisted options position remains unchanged, signaling a higher personal financial exposure to the company and potentially reinforcing market confidence in its outlook among stakeholders.
The most recent analyst rating on (AU:MDI) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Middle Island Resources Limited stock, see the AU:MDI Stock Forecast page.
Middle Island Resources has completed the acquisition of Konstantin Resources, securing full ownership of a 620km² polymetallic exploration portfolio in Serbia, alongside raising $3.4 million in a placement and ending the December quarter with $3.47 million in cash and additional listed investments. The company reported thick, high‑grade gold, silver and base metal intersections from its maiden 11‑hole reverse circulation drilling program at the Bobija Project, as well as strong channel and soil sampling results across the broader project area, while also reshaping its leadership team with a new non-executive chairman, non-executive director and chief executive officer, underscoring a strategic push to advance and potentially expand its Serbian polymetallic footprint.
The most recent analyst rating on (AU:MDI) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Middle Island Resources Limited stock, see the AU:MDI Stock Forecast page.
Middle Island Resources has confirmed two significant large-scale copper-in-soil anomalies at the Jelaca and Oglavak prospects within its Priboj Project in Serbia, with assays returning copper values up to 5,876ppm in soils and up to 1.0% in outcropping mineralisation at Jelaca. The results support the company’s VMS exploration model, extend anomalous copper zones across the broader project area, and underpin plans for a maiden drilling program at Jelaca in Q2 2026 alongside further soil sampling, potentially enhancing Middle Island’s copper discovery prospects and strategic positioning in an underexplored European copper district.
The most recent analyst rating on (AU:MDI) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Middle Island Resources Limited stock, see the AU:MDI Stock Forecast page.
Middle Island Resources has disclosed a change in director Daniel Raihani’s indirect interest in the company, with an associated entity, 7 Enterprises Pty Ltd, acquiring 4 million shares on market between 19 and 22 December 2025 at an average price of $0.0297 per share. Following this on-market purchase, Raihani’s indirect holding has increased to 61 million shares while his unlisted options position remains unchanged, signalling a modest uptick in director alignment with shareholders and potentially reflecting confidence in the company’s prospects.
Middle Island Resources Ltd has announced a change in the interest of its director, Daniel Raihani, involving the acquisition of an additional 2 million shares. Following the transaction, Mr. Raihani’s holdings now comprise a total of 57 million shares in the company. Such changes could reflect evolving confidence in the company’s operations, potentially impacting stakeholder perception and corporate decision-making.
Middle Island Resources Limited announced a change in its director’s relevant interests, with Mr. Daniel Raihani acquiring an additional 4,331,104 shares on the market, bringing his total holdings to 55,000,000 shares. This acquisition highlights the director’s increased commitment, which may prompt positive reactions from stakeholders and reinforce confidence in the company’s strategic direction.
Middle Island Resources Limited has appointed Peter Spiers as its new CEO, effective immediately. With over 30 years of experience in exploration, mine development, and operations, Spiers is expected to leverage his extensive industry knowledge and leadership skills to enhance the company’s project portfolio in Serbia. His appointment is seen as a strategic move to accelerate exploration efforts and unlock significant value from Middle Island’s assets. The board is optimistic about his ability to drive the company’s growth and progress its strategic objectives.
Middle Island Resources Limited has announced significant assay results from its maiden drilling program at the Bobija Mine area in Serbia, revealing extensive gold, silver, copper, lead, and zinc mineralization. The drilling results have expanded the known footprint of the Bobija deposit, with mineralization open in all directions, indicating a highly valuable target due to the strong association of gold and silver with base metals. The company is planning a Phase 2 drilling program to further explore the potential of the area, which remains underexplored and holds substantial promise for future resource development.