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Meeka Gold Limited (AU:MEK)
:MEK

Meeka Gold Limited (MEK) AI Stock Analysis

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AU

Meeka Gold Limited

(Frankfurt:MEK)

Rating:48Neutral
Price Target:
Meeka Gold Limited is facing significant operational and financial challenges, primarily due to persistent losses and negative cash flows. The stock exhibits some upward technical momentum, but the lack of profitability and poor valuation metrics are significant obstacles. The balance sheet provides some stability, yet strategic changes are crucial for improving financial health.

Meeka Gold Limited (MEK) vs. iShares MSCI Australia ETF (EWA)

Meeka Gold Limited Business Overview & Revenue Model

Company DescriptionMeeka Gold Limited (MEK) is a mineral exploration and development company focused on the discovery and development of gold and other precious metal resources. The company operates predominantly in Australia, engaging in the exploration and potential development of mining projects to extract valuable mineral resources. Meeka Gold Limited's core activities include identifying prospective mineral deposits, conducting detailed geological assessments, and advancing projects through exploration and feasibility stages.
How the Company Makes MoneyMeeka Gold Limited generates revenue primarily through the exploration and development of gold mining projects. The company makes money by identifying and acquiring rights to promising mineral tenements, conducting exploration activities to assess their potential, and advancing successful projects towards development and eventual production. Revenue streams for Meeka Gold may include the sale of extracted minerals, joint ventures or partnerships with other mining companies, and potential sales of mining rights or tenements. Significant partnerships with established mining companies can also provide financial support and operational expertise, contributing to the company's earnings. Additionally, Meeka Gold may engage in capital raising activities to fund its exploration and development efforts, although this is more of a financing activity rather than a direct revenue stream.

Meeka Gold Limited Financial Statement Overview

Summary
Meeka Gold Limited faces significant operational challenges with persistent net losses and cash flow issues. While the balance sheet shows some stability with low leverage, the absence of revenue and profitability growth poses serious concerns. Immediate strategic changes are needed to improve revenue generation and operational efficiency.
Income Statement
25
Negative
Meeka Gold Limited shows a consistent struggle with profitability, as evidenced by negative net profit margins and EBIT margins over multiple years. Total revenue has been sporadic and insufficient to cover costs, indicating challenges in scaling operations. The lack of revenue in the latest year further highlights these issues, suggesting significant operational and market challenges.
Balance Sheet
60
Neutral
The company's balance sheet reflects moderate financial stability with a low debt-to-equity ratio and a positive equity ratio. Despite an increase in total liabilities, the company maintains a significant portion of equity relative to its assets, which provides some stability. However, the absence of revenue growth and persistent losses could strain liquidity if not addressed.
Cash Flow
30
Negative
Cash flows are under pressure due to negative operating and free cash flows, indicating challenges in generating cash from operations. The company's reliance on financing cash flows highlights potential liquidity concerns. The negative free cash flow growth rate is a notable risk factor, signaling difficulties in maintaining or improving cash reserves.
Breakdown
TTMJun 2024Jun 2023Jun 2022Jun 2021Jun 2020
Income StatementTotal Revenue
329.26K0.00200.00K30.00K20.00K10.00K
Gross Profit
256.50K-72.12K139.28K-18.26K20.00K10.00K
EBIT
-1.58M-1.61M-1.18M-3.03M-3.47M-473.82K
EBITDA
-1.45M-1.66M-933.41K-2.95M0.000.00
Net Income Common Stockholders
-4.43M-2.94M-994.13K-2.99M-3.44M-330.43K
Balance SheetCash, Cash Equivalents and Short-Term Investments
2.83M2.95M2.77M2.47M9.21M3.20M
Total Assets
3.38M35.45M30.18M22.27M22.91M3.22M
Total Debt
0.002.23M147.80K130.42K0.000.00
Net Debt
-2.83M-723.52K-2.63M-2.34M-9.21M-3.20M
Total Liabilities
74.89K7.53M4.76M4.27M3.99M39.37K
Stockholders Equity
3.30M27.92M25.42M18.00M18.92M3.18M
Cash FlowFree Cash Flow
-17.29M-7.03M-8.19M-6.30M-10.37M-447.46K
Operating Cash Flow
-3.09M-1.52M-1.07M-676.46K-718.80K-354.19K
Investing Cash Flow
-17.46M-5.50M-6.92M-6.02M-9.65M232.76K
Financing Cash Flow
67.87M7.20M8.30M-43.33K16.39M0.00

Meeka Gold Limited Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.16
Price Trends
50DMA
0.15
Positive
100DMA
0.13
Positive
200DMA
0.10
Positive
Market Momentum
MACD
<0.01
Negative
RSI
58.65
Neutral
STOCH
76.19
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MEK, the sentiment is Positive. The current price of 0.16 is above the 20-day moving average (MA) of 0.14, above the 50-day MA of 0.15, and above the 200-day MA of 0.10, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 58.65 is Neutral, neither overbought nor oversold. The STOCH value of 76.19 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:MEK.

Meeka Gold Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
AUEVN
81
Outperform
$17.69B25.5816.97%1.37%60.56%302.20%
AURMS
80
Outperform
$3.28B9.2726.42%2.88%54.37%310.22%
AURRL
72
Outperform
$3.66B-0.38%29.83%93.23%
51
Neutral
$2.02B-1.14-21.36%3.64%2.88%-30.57%
AUMEK
48
Neutral
AU$402.51M-7.25%-181.82%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:MEK
Meeka Gold Limited
0.16
0.13
400.00%
AU:RRL
Regis Resources Limited
4.85
3.09
174.79%
AU:EVN
Evolution Mining
8.89
5.22
142.04%
AU:RMS
Ramelius Resources Limited
2.83
1.04
58.45%

Meeka Gold Limited Corporate Events

Meeka Metals Advances Murchison Gold Project with First Ore Mined
Apr 30, 2025

Meeka Metals Limited announced significant progress in its Murchison Gold Project with the first ore mined from the St Anne’s North open pit and the commencement of mining at Turnberry Central. These developments are part of the company’s strategy to ensure a consistent supply of high-grade oxide ore for processing. The expansion of the processing plant is nearing completion, with major structural works and upgrades progressing well, indicating a positive impact on the company’s operational capabilities and its positioning in the gold mining industry.

Meeka Metals Advances Murchison Gold Project with Key Milestones
Apr 27, 2025

Meeka Metals Limited announced significant progress in its Murchison Gold Project during the March 2025 quarter. Key developments include the re-accessing of the high-grade Andy Well underground mine, commencement of open pit mining ahead of schedule, and installation of a larger 750kW ball mill at the processing plant. These advancements position the company to begin ore processing by mid-2025, supported by a strong cash position of $42 million, ensuring the project’s continued momentum and potential for early gold production.

Meeka Metals Reports Quarterly Cash Flow with Strategic Investments
Apr 27, 2025

Meeka Metals Limited has reported its quarterly cash flow, highlighting significant financial activities. The company experienced a net cash outflow from operating and investing activities, with substantial investments in project development. However, it achieved a positive cash flow from financing activities, mainly due to proceeds from equity securities and the exercise of options. This financial maneuvering suggests Meeka Metals is actively investing in its growth, potentially strengthening its market position and future prospects.

Franklin Resources Adjusts Stake in Meeka Metals
Apr 3, 2025

Meeka Metals Limited has announced that Franklin Resources, Inc. and its affiliates have adjusted their substantial holding in the company. The change reflects a slight decrease in voting power from 5.05% to 4.99%, indicating a minor shift in shareholder composition. This adjustment may have implications for the company’s shareholder dynamics, but the overall impact on operations or market positioning is not specified.

Meeka Metals Director Adjusts Securities Portfolio
Apr 2, 2025

Meeka Metals Limited announced a change in the director’s interest, involving Paul Ian Chapman. The change includes the acquisition of 500,000 fully paid ordinary shares and the disposal of 500,000 unlisted options. This adjustment reflects a strategic move by the director to convert options early, potentially indicating confidence in the company’s future performance.

Meeka Metals Limited Announces Quotation of New Securities on ASX
Apr 2, 2025

Meeka Metals Limited has announced the quotation of 4,100,000 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of April 2, 2025. This move is part of the company’s strategy to leverage convertible securities, potentially impacting its market positioning by increasing liquidity and providing additional capital for its operations and growth initiatives.

Meeka Metals Expands Share Capital Through Option Conversion
Apr 2, 2025

Meeka Metals Limited, a company involved in the metals industry, announced the issuance of 4,100,000 fully paid ordinary shares following the conversion of unlisted options with varying exercise prices, resulting in proceeds totaling $356,000. This move, detailed in an Appendix 2A lodged with the ASX, signifies the company’s compliance with relevant provisions of the Corporations Act and reflects its ongoing efforts to strengthen its financial position and enhance shareholder value.

Meeka Metals Unveils High-Grade Gold Discoveries at Turnberry Central
Mar 26, 2025

Meeka Metals Limited has announced significant results from its infill and extensional drilling at Turnberry Central, part of the Murchison Gold Project. The drilling has revealed broad zones of high-grade gold, including multiple intersections over 20 meters, which are expected to support high productivity and low-cost open pit mining. The ongoing drilling results will be incorporated into the Turnberry Central grade control model to refine open pit design, enhancing the company’s operational efficiency and market positioning.

Meeka Metals Limited Announces New Securities Quotation
Mar 10, 2025

Meeka Metals Limited has announced the issuance of 7,549,994 fully paid ordinary securities, which will be quoted on the Australian Securities Exchange (ASX) under the code MEK. This move is part of the company’s strategy to enhance its capital structure and potentially improve its market positioning, offering stakeholders an opportunity to engage with its growth trajectory.

Meeka Metals Limited Issues New Shares Following Option Conversion
Mar 10, 2025

Meeka Metals Limited, a company involved in the metals industry, announced the issuance of 7,549,994 fully paid ordinary shares following the conversion of unlisted options. This conversion, with an exercise price of $0.06, generated proceeds of $453,000 for the company. The announcement highlights that the shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act, and the company has complied with relevant provisions of the Corporations Act, ensuring transparency and regulatory adherence.

Meeka Metals Advances Murchison Gold Project Ahead of Schedule
Feb 27, 2025

Meeka Metals Limited has announced that open pit mining activities at the Murchison Gold Project have commenced ahead of schedule, marking a significant milestone for the company. The project includes a 2m lift of the tailings storage facility and rapid progress on the CIL gold processing plant expansion, which positions Meeka closer to achieving its first gold production by mid-2025. This development underscores Meeka’s commitment to its development schedule and enhances its operational capabilities, potentially benefiting stakeholders by advancing the timeline for gold production.

Meeka Metals Director Alters Securities Portfolio
Feb 20, 2025

Meeka Metals Limited announced a change in the interest of one of its directors, Paul Ian Chapman. The director has engaged in an early conversion of 500,000 unlisted options into fully paid ordinary shares, maintaining his indirect interest through Stone Poneys Nominees Pty Ltd. This transaction reflects a shift in the director’s investment strategy and could signal confidence in the company’s future performance. It may also have implications for the company’s market perception and stakeholder interests.

Meeka Metals Limited to Quote New Securities on ASX
Feb 20, 2025

Meeka Metals Limited has announced the issuance of 9,677,500 fully paid ordinary securities, which will be quoted on the ASX under the code MEK. This move is part of the company’s strategic financial operations, potentially impacting its market position by increasing liquidity and enhancing capital for future projects, thereby benefiting stakeholders through potential growth and investment opportunities.

Meeka Metals Strengthens Capital Through Option Conversion
Feb 20, 2025

Meeka Metals Limited has announced the issuance of 9,677,500 fully paid ordinary shares following the conversion of unlisted options. This move generated proceeds of $600,650, enhancing the company’s financial position. The conversion was conducted in compliance with relevant corporate regulations, and the shares were issued without disclosure to investors under specific sections of the Corporations Act. This strategic financial operation is aimed at strengthening Meeka’s capital structure, potentially impacting its operational capabilities and stakeholder interests positively.

Meeka Metals Extends High-Grade Gold Resource at St Anne’s, Prepares for Mining Operations
Feb 18, 2025

Meeka Metals Limited has announced new high-grade gold assay results from its ongoing drilling activities at the St Anne’s site, which extend the mineral resource to the north and indicate potential for further exploration. These findings, along with progress in infrastructure development, position the company to commence mining operations in March 2025, potentially enhancing its production capabilities and market standing.

Meeka Gold Limited Confirms Stability in Resource Reports
Feb 10, 2025

Meeka Gold Limited presented at the Bell Potter Unearthed Conference, providing updates on its mineral resources and reserves. The company confirmed that there have been no material changes to the information previously reported on its projects, emphasizing stability in its exploration and production targets. The announcement reassures stakeholders of the company’s continuity in its strategic objectives and compliance with reporting standards.

Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

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.