Megado Gold Ltd. (AU:MEG)
ASX:MEG
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Megado Gold Ltd.
(Sydney:MEG)
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Rating:44Neutral
Price Target:
AU$0.02
â–¼(-40.00% Downside)
Action:ReiteratedDate:04/23/26
The score is primarily held down by weak financial performance (pre-revenue, ongoing losses, and negative operating/free cash flow) and very bearish technicals (below key moving averages with negative MACD and extremely low RSI). A debt-free balance sheet and improving loss/cash burn trends provide some support but are not enough to offset the core risks.
Positive Factors
Debt-free balance sheet
A debt-free capital structure materially lowers fixed financing costs and bankruptcy risk for a pre-revenue miner. This structural flexibility preserves optionality for staged exploration and development financing, allowing management to prioritize operational plans over debt servicing while pursuing commercialization.
Negative Factors
Pre-revenue operations
Being pre-revenue is a durable structural risk: the business lacks operating income and must convert exploration value into commercial revenue to be viable. This stage implies high execution risk, long timetables, and continued reliance on capital markets until consistent revenue streams are established.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
A debt-free capital structure materially lowers fixed financing costs and bankruptcy risk for a pre-revenue miner. This structural flexibility preserves optionality for staged exploration and development financing, allowing management to prioritize operational plans over debt servicing while pursuing commercialization.
Read all positive factors
Megado Gold Ltd. (MEG) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$14.41M
Dividend YieldN/A
Average Volume (3M)691.00K
Price to Earnings (P/E)―
Beta (1Y)2.05
Revenue GrowthN/A
EPS Growth85.16%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding720,683,300
10 Day Avg. Volume419,585
30 Day Avg. Volume691,002
Financial Highlights & Ratios
PEG Ratio0.16
Price to Book (P/B)1.67
Price to Sales (P/S)0.00
P/FCF Ratio-23.49
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
Megado Gold Ltd. Business Overview & Revenue Model
Company Description
Megado Minerals Limited operates as a mineral exploration company in North America. It explores for rare earth elements and lithium. The company holds 100% interest in North Fork Rare Earth Project comprising 499 mining lode claims covering approx...
How the Company Makes Money
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Megado Gold Ltd. Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
58
Neutral
Cash Flow
27
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -1.20M | -4.14M | -1.37M | -7.76M | -1.02M |
| Net Income | -1.18M | -4.14M | -1.37M | -7.76M | -1.02M |
Balance Sheet | |||||
| Total Assets | 10.18M | 6.81M | 9.00M | 4.92M | 7.33M |
| Cash, Cash Equivalents and Short-Term Investments | 2.00M | 2.12M | 1.14M | 853.12K | 1.24M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 172.11K | 106.41K | 47.37K | 244.33K | 164.62K |
| Stockholders Equity | 9.39M | 6.71M | 8.95M | 4.67M | 6.73M |
Cash Flow | |||||
| Free Cash Flow | -668.14K | -630.02K | -2.36M | -2.69M | -3.77M |
| Operating Cash Flow | -668.14K | -630.02K | -874.49K | -968.31K | -1.00M |
| Investing Cash Flow | -375.65K | -317.33K | -1.48M | -1.68M | -2.77M |
| Financing Cash Flow | 924.00K | 1.92M | 2.65M | 2.26M | 0.00 |
Megado Gold Ltd. Technical Analysis
Negative
0.03
Price Trends
0.02
Negative
0.03
Negative
0.03
Negative
Market Momentum
>-0.01
Negative
4.68
Positive
25.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MEG, the sentiment is Negative. The current price of 0.03 is above the 20-day moving average (MA) of 0.02, above the 50-day MA of 0.02, and below the 200-day MA of 0.03, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 4.68 is Positive, neither overbought nor oversold. The STOCH value of 25.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:MEG.
Megado Gold Ltd. 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$14.37M | -13.13 | -5.53% | ― | ― | -7.41% | |
44 Neutral | AU$14.41M | -13.32 | -5.59% | ― | ― | 85.16% | |
44 Neutral | AU$13.27M | -3.15 | -380.81% | ― | ― | 1.76% | |
44 Neutral | AU$10.18M | -0.86 | -330.25% | ― | ― | 43.46% | |
41 Neutral | AU$14.61M | -6.14 | -13.47% | ― | ― | 33.33% |
* Basic Materials Sector Average
AU:MEG
Megado Gold Ltd.
0.02
0.01
100.00%
AU:CR1
Constellation Resources Ltd.
0.17
0.04
26.92%
AU:VR8
Vanadium Resources Ltd.
0.02
<0.01
15.00%
AU:AKO
Akora Resources Ltd.
0.08
-0.03
-28.81%
AU:OLY
CropLogic Ltd.
0.06
0.01
28.89%
Megado Gold Ltd. Corporate Events
Megado Minerals Options Lapse, Trimming Potential Future Dilution
Apr 29, 2026
Megado Minerals Ltd has notified the market that 7,000,000 options with an exercise price of $0.10, expiring on 28 April 2026 under the code MEGAR, have lapsed unexercised. The cessation of these options marginally reduces the company’s pote...
Megado Minerals Investor JAWAF Enterprises Loses Substantial Holder Status After Dilution
Apr 23, 2026
Megado Minerals has disclosed that JAWAF Enterprises Pty Ltd has ceased to be a substantial holder in the company as of 21 April 2026. The change stems from a dilution of JAWAF’s voting power following recent share placements by Megado, with...
Megado Minerals Issues 75 Million Shares Under Disclosure Exemption
Apr 21, 2026
Megado Minerals has issued 75 million fully paid ordinary shares without a prospectus under the Corporations Act’s disclosure exemptions, following its recent A$1.65 million capital raising to progress its Iberian copper project. The company...
Megado Minerals Seeks ASX Quotation for 75 Million New Shares
Apr 21, 2026
Megado Minerals has applied to the ASX for quotation of 75,000,000 new ordinary fully paid shares, to be issued on 21 April 2026. The move reflects a significant capital issuance that could support the company’s exploration and development a...
Megado Minerals Plans Major Equity Placement and Options Issue
Apr 10, 2026
Megado Minerals Ltd has announced a proposed capital raising through the issue of up to 82,500,000 new ordinary fully paid shares and 41,250,000 unquoted options. The securities are to be issued via a placement or similar structure, with a propose...
Megado Minerals Raises A$1.65m to Accelerate High-Grade Spanish Copper Exploration
Apr 10, 2026
Megado Minerals has secured A$1.65 million through a company-led equity placement, including A$1.5 million from investors and A$150,000 from directors, to fund exploration across its high-grade Spanish projects. The placement, priced at A$0.02 per...
Megado Minerals Sets May 2026 Date for Annual General Meeting
Apr 6, 2026
Megado Minerals Limited has called its Annual General Meeting for 10:00 a.m. AEST on 7 May 2026 at Level 3, 480 Collins Street in Melbourne, providing shareholders with notice of the key details. The company is urging shareholders to either attend...
Megado Gold Releases 2025 Annual Report
Mar 27, 2026
Megado Gold Ltd. has released its annual report for the financial year ended 31 December 2025, detailing its consolidated financial statements and disclosures. The document includes the directors’ report, profit and loss statement, balance s...
Megado Minerals Files Updated Corporate Governance Statement and Appendix 4G
Mar 27, 2026
Megado Minerals has lodged its updated corporate governance statement for the year ended 31 December 2025, confirming it is available on the company’s website and has been approved by the board as of 27 March 2026. The filing, together with ...
Megado Minerals Issues Unquoted Options and Performance Rights
Mar 9, 2026
Megado Minerals Ltd has issued 5,000,000 unquoted options exercisable at $0.05 and expiring on 30 June 2030, along with 12,500,000 unquoted performance rights. These securities, which are not intended to be quoted on the ASX, form part of previous...
Megado Minerals flags significant copper and silver exploration opportunity
Mar 8, 2026
Megado Minerals has released a corporate presentation outlining what it describes as a significant copper and silver opportunity anchored by high-grade historic mines. The company highlights its exposure to an extensive copper belt and a long silv...
Megado Minerals Flags High-Grade Copper-Silver Potential at Iberian Project in Spain
Mar 3, 2026
Megado Minerals has reported high-grade rock chip assay results from its Iberian Copper Project in northern Spain, with multiple samples returning more than 5% copper and 100 grams per tonne of silver from historic mines and along strike in the ho...
Megado Minerals Appoints New Director with Significant Equity Stake
Mar 2, 2026
Megado Minerals Limited has appointed Lachlan Rutherford as a director effective 2 March 2026, formalising his role in the company’s governance and strategic oversight. The company disclosed that Rutherford holds 1,686,424 ordinary shares, 6...
Megado Minerals Issues New Unquoted Options and Performance Rights
Mar 2, 2026
Megado Minerals has issued 5,000,000 unquoted options exercisable at $0.05 and expiring on 30 June 2030, along with 7,500,000 performance rights, under its employee incentive arrangements. These securities are unquoted and subject to transfer rest...
Megado Minerals Plans Major Equity Issue to Expand Capital Base
Mar 1, 2026
Megado Minerals Ltd has outlined a proposed issue of new securities, including 200 million ordinary fully paid shares, 5 million options exercisable at $0.05 by June 30, 2030, and a total of 212.5 million performance rights across two new classes....
Megado Minerals Secures Option Over High-Grade Spanish Silver-Copper Project
Mar 1, 2026
Megado Minerals has secured a five-year option to acquire up to 80% of the high-grade Alpartir Silver-Copper-Antimony Project in Aragón, Spain, covering 576 square kilometres across a mix of pending investigation permits and granted explorati...
Megado Minerals Halts ASX Trading Ahead of Proposed Acquisition Announcement
Feb 26, 2026
Megado Minerals Limited has requested an immediate trading halt on its quoted securities on the ASX, as the company prepares a market announcement regarding a proposed acquisition. The halt, granted under ASX Listing Rule 17.1, will remain in plac...
Megado Minerals Wins Key Permits to Launch Full-Scale Exploration at Iberian Copper Project
Feb 8, 2026
Megado Minerals has secured four key Investigation Permits at its Iberian Copper Project in northern Spain, expanding granted tenure to 11 out of 12 permits over 956 square kilometres and clearing the way for full-scale exploration. The permits, w...
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.