Meeka Gold Limited (AU:MEK)
ASX:MEK
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Meeka Gold Limited
(Sydney:MEK)
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Rating:43Neutral
Price Target:
AU$0.13
▼(-18.75% Downside)
Action:Reiterated
Date:03/14/26
The score is weighed down primarily by weak financial performance driven by large losses and sharply worsening free cash flow, which increases reliance on external funding. Technicals also remain bearish with the stock below major moving averages and negative momentum indicators. Valuation provides limited support because earnings are negative and no dividend yield is available.
Positive Factors
Conservative balance sheet
Very low leverage and a large equity base provide durable financial flexibility for a development-stage miner. This reduces near-term refinancing pressure, supports multi-stage exploration programs, and gives management scope to pursue project advancement without immediate reliance on high-cost debt.
Negative Factors
Deteriorating cash generation
Substantial negative operating and free cash flow materially raise funding dependence and execution risk. Over a medium-term horizon this forces recurring capital raises or asset disposals to fund exploration and development, which can delay project timelines and dilute existing shareholders if sustainable cash generation isn't achieved.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage and a large equity base provide durable financial flexibility for a development-stage miner. This reduces near-term refinancing pressure, supports multi-stage exploration programs, and gives management scope to pursue project advancement without immediate reliance on high-cost debt.
Read all positive factors
Meeka Gold Limited (MEK) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$382.97M
Dividend YieldN/A
Average Volume (3M)21.90M
Price to Earnings (P/E)6.2
Beta (1Y)0.82
Revenue GrowthN/A
EPS GrowthN/A
CountryAU
Employees67
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.01
Shares Outstanding2,945,888,200
10 Day Avg. Volume21,449,787
30 Day Avg. Volume21,896,045
Financial Highlights & Ratios
PEG Ratio3.63
Price to Book (P/B)2.03
Price to Sales (P/S)222.02
P/FCF Ratio-4.29
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.35Price Target Upside118.75% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.02
Revenue Forecast (FY)AU$173.55M
Meeka Gold Limited Business Overview & Revenue Model
Company Description
Meeka Metals Limited engages in the exploration of gold and rare earth properties in Australia. Its flagship project is the Murchison gold project covering an area of 343 square kilometers located in the prolific Murchison Gold Fields, Western Aus...
How the Company Makes Money
Meeka Gold’s ability to generate revenue is primarily tied to whether it is in production and selling gold or remains in a pre-production exploration/development phase. If the company is producing, it would make money by extracting gold ore, proce...
Meeka Gold Limited Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
78
Positive
Cash Flow
18
Very Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 65.17M | 1.39M | 0.00 | 200.00K | 30.00K | 20.00K |
| Gross Profit | 39.49M | 1.39M | -72.12K | 139.28K | -18.26K | 20.00K |
| EBITDA | 51.35M | -2.11M | -2.71M | -933.00K | -2.95M | -3.44M |
| Net Income | 29.18M | -4.24M | -2.94M | -994.00K | -2.99M | -3.44M |
Balance Sheet | ||||||
| Total Assets | 231.01M | 180.53M | 35.45M | 30.18M | 22.27M | 22.91M |
| Cash, Cash Equivalents and Short-Term Investments | 37.29M | 55.65M | 2.95M | 2.77M | 2.47M | 9.21M |
| Total Debt | 6.47M | 2.06M | 2.23M | 147.80K | 130.42K | 0.00 |
| Total Liabilities | 43.12M | 28.89M | 7.53M | 4.76M | 4.27M | 3.99M |
| Stockholders Equity | 187.89M | 151.63M | 27.92M | 25.42M | 18.00M | 18.92M |
Cash Flow | ||||||
| Free Cash Flow | -69.38M | -71.66M | -7.03M | -8.19M | -6.30M | -10.37M |
| Operating Cash Flow | 20.63M | -4.49M | -1.52M | -1.07M | -676.46K | -718.80K |
| Investing Cash Flow | -98.13M | -67.17M | -5.50M | -6.92M | -6.02M | -9.65M |
| Financing Cash Flow | 59.53M | 124.36M | 7.20M | 8.30M | -43.33K | 16.39M |
Meeka Gold Limited Technical Analysis
Negative
0.16
Price Trends
0.20
Negative
0.23
Negative
0.20
Negative
Market Momentum
-0.01
Negative
38.03
Neutral
13.10
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MEK, the sentiment is Negative. The current price of 0.16 is below the 20-day moving average (MA) of 0.16, below the 50-day MA of 0.20, and below the 200-day MA of 0.20, indicating a bearish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 38.03 is Neutral, neither overbought nor oversold. The STOCH value of 13.10 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:MEK.
Meeka Gold Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | AU$283.33M | 2.58 | 16.50% | 3.30% | 22.05% | 256.19% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
53 Neutral | AU$281.61M | -21.44 | -5.27% | ― | ― | 7.64% | |
48 Neutral | AU$317.37M | 5.17 | 10.73% | ― | 78.18% | ― | |
46 Neutral | AU$462.94M | -15.19 | -8.63% | ― | ― | 29.23% | |
43 Neutral | AU$382.97M | 6.25 | 17.19% | ― | ― | ― | |
42 Neutral | AU$395.20M | -1.98 | -33.09% | ― | 2076.67% | -0.61% |
* Basic Materials Sector Average
AU:MEK
Meeka Gold Limited
0.13
<0.01
4.00%
AU:BCN
Beacon Minerals
2.82
1.76
166.04%
AU:AUC
Ausgold Limited
0.85
0.24
38.52%
AU:TBR
Tribune Resources Limited
5.40
0.59
12.27%
AU:STN
Saturn Metals Ltd.
0.52
0.24
83.93%
AU:BTR
Brightstar Resources Limited
0.36
-0.33
-47.83%
Meeka Gold Limited Corporate Events
Meeka Metals Appoints Daniel Lougher as New Director
Apr 30, 2026
Meeka Metals Limited has announced the appointment of Daniel Lougher as a director, effective 1 May 2026, in a move that updates its board composition under ASX listing rules. The company disclosed that Lougher currently holds no relevant interest...
Meeka Gold ramps up underground shift at Murchison despite softer March output
Apr 28, 2026
Meeka Gold reported a weaker March 2026 quarter at its Murchison Gold Project, with gold production falling to 6,083 ounces as heavy rainfall, lower open-pit productivity and reliance on low-grade stockpiles limited access to higher-grade ore. Des...
Meeka Metals Plans Placement of Up to 118 Million New Shares
Apr 23, 2026
Meeka Metals Limited has lodged an Appendix 3B with the ASX outlining a proposed placement of up to 117,804,881 new ordinary fully paid shares under its MEK ticker. The new securities are scheduled for issue on 11 May 2026, indicating a further eq...
Meeka Metals to Acquire Mt Holland South Tenements and Launch Major Gold Exploration Push
Apr 23, 2026
Meeka Metals has agreed to acquire a package of gold mining tenements surrounding Mt Holland in Western Australia’s Southern Cross Province, covering 71 square kilometres and about 24 kilometres of banded iron formation, the principal host o...
Meeka Metals Lifts Throughput but March-Quarter Gold Output Hit by Rainfall
Apr 7, 2026
Meeka Metals reported that March-quarter gold output from its Murchison Gold Project fell to 6,083 ounces, down from 9,174 ounces in the December period, after heavy rainfall disrupted open-pit mining and delayed access to higher-grade ore, forcin...
Meeka Metals fast-tracks Murchison plant upgrade with ore sorting boost
Mar 16, 2026
Meeka Metals has begun an upgrade at its Murchison processing plant, installing an additional crushing circuit, wash plant and a Steinert multi-sensor ore sorter to lift capacity to about 800,000 tonnes per annum. The initiative targets Andy Well ...
Meeka Gold Outlines Corporate Structure and ASX Listing Details
Mar 15, 2026
Meeka Gold Limited has detailed its current corporate structure, listing its board of directors, company secretary, and key service providers including its share registry, auditor, and legal counsel. The release also confirms its principal place o...
S&P Dow Jones Unveils March 2026 Overhaul of S&P/ASX Indices
Mar 6, 2026
SP Dow Jones Indices has unveiled its March 2026 quarterly rebalance of the SP/ASX index suite, with Northern Star Resources set to join the blue-chip SP/ASX 20 while Santos exits. The SP/ASX 50, 100, 200 and 300 will also see a raft of additions ...
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.