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Meeka Gold Limited
(Sydney:MEK)
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Rating:50Neutral
Price Target:
AU$0.09
▼(-41.25% Downside)
Action:Reiterated
Date:07/23/26
The score is held back primarily by weak financial performance driven by ongoing losses and sharply worse free cash flow, despite a strong, low-leverage balance sheet. Technical indicators also point to a continued downtrend. Valuation is a modest offset due to a relatively low P/E, but limited by the absence of a dividend yield.
Positive Factors
Conservative balance sheet
Very low leverage and a substantial equity base provide durable financial flexibility. Over a 2–6 month horizon this reduces near-term refinancing risk, supports continued exploration and development spending, and gives management time to execute without immediate liquidity stress.
Negative Factors
Severe free cash flow deterioration
A large, recent swing to materially negative free cash flow materially increases financing needs. This persistent outflow elevates reliance on external capital, limiting the company's ability to self-fund project advancement and increasing execution risk over the coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage and a substantial equity base provide durable financial flexibility. Over a 2–6 month horizon this reduces near-term refinancing risk, supports continued exploration and development spending, and gives management time to execute without immediate liquidity stress.
Read all positive factors
Meeka Gold Limited (MEK) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$341.21M
Dividend YieldN/A
Average Volume (3M)21.90M
Price to Earnings (P/E)11.3
Beta (1Y)1.13
Revenue GrowthN/A
EPS GrowthN/A
CountryAU
Employees109
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)<0.01
Shares Outstanding3,101,943,000
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$0.31Price Target Upside93.75% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.03
Revenue Forecast (FY)AU$323.45M
Meeka Gold Limited Business Overview & Revenue Model
Company Description
Meeka Metals Limited is an Australian company primarily engaged in the exploration of precious metals and critical minerals, specifically gold and rare earth elements. The company's key asset is the Murchison gold project, which encompasses a sign...
How the Company Makes Money
As of publicly available information up to my knowledge cutoff (2025-08), specific, verified details of Meeka Gold Limited’s operating revenue streams (e.g., recurring gold sales, processing/tolling income, or other commercial revenue) are not ava...
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 | 39.38M | 1.39M | -72.12K | 139.28K | -18.26K | 20.00K |
| EBITDA | 51.50M | -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
Positive
0.16
Price Trends
0.10
Positive
0.12
Negative
0.18
Negative
Market Momentum
<0.01
Negative
54.69
Neutral
56.60
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 0.10, above the 50-day MA of 0.10, and below the 200-day MA of 0.18, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 54.69 is Neutral, neither overbought nor oversold. The STOCH value of 56.60 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
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | AU$270.21M | 6.13 | 16.50% | 3.30% | 22.05% | 256.19% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
56 Neutral | AU$271.92M | -34.21 | -5.27% | ― | ― | 7.64% | |
50 Neutral | AU$341.21M | 11.31 | 17.19% | ― | ― | ― | |
49 Neutral | AU$359.47M | -0.05 | 10.73% | ― | 78.18% | ― | |
46 Neutral | AU$585.42M | -43.44 | -8.63% | ― | ― | 29.23% | |
42 Neutral | AU$455.82M | -3.63 | -33.09% | ― | 2076.67% | -0.61% |
* Basic Materials Sector Average
AU:MEK
Meeka Gold Limited
0.11
-0.03
-18.52%
AU:BCN
Beacon Minerals
3.09
1.23
65.95%
AU:AUC
Ausgold Limited
1.33
0.72
119.01%
AU:TBR
Tribune Resources Limited
4.99
0.40
8.79%
AU:STN
Saturn Metals Ltd.
0.44
>-0.01
-1.12%
AU:BTR
Brightstar Resources Limited
0.42
0.03
9.21%
Meeka Gold Limited Corporate Events
Meeka Metals confirms resource estimates as it moves into production growth phase
Jul 23, 2026
Meeka Metals has released a corporate presentation signalling a transition from capital deployment to a production growth phase at its Australian gold projects. The company confirms that previously reported mineral resource and ore reserve estimat...
Meeka Metals Uncovers High‑Grade Gold Below Turnberry Underground Reserve
Jul 21, 2026
Meeka Metals has reported significant high‑grade gold intersections from diamond drilling roughly 200 metres below the existing Turnberry underground Ore Reserve in the Turnberry Central area. The program has returned broad mineralised zones...
Meeka Metals Director Increases Shareholding via Performance Rights Conversion
Jul 1, 2026
Meeka Metals has reported a change in the indirect interests of director Paul Adams following the conversion of performance rights into ordinary shares. Through Makalu Capital Pty Ltd, where he is a director and shareholder, Adams converted 3,750,...
Meeka Metals Issues 38.25 Million Shares on Performance Rights Conversion
Jul 1, 2026
Meeka Metals has issued 38,250,000 fully paid ordinary shares following the vesting and conversion of Class D unlisted performance rights that were granted in July 2022 and approved by shareholders. The issuance reflects the satisfaction of perfor...
Meeka Metals Seeks ASX Quotation for 38.25 Million New Shares
Jul 1, 2026
Meeka Metals Limited has applied to the ASX for quotation of 38,250,000 new ordinary fully paid shares, with the securities issued on 1 July 2026 under the code MEK. The additional quotation expands the company’s listed share base, reflectin...
Meeka Metals Ramps Up High-Grade Ore Development at Judy North
May 24, 2026
Meeka Metals has begun ore development at the previously unmined Judy North orebody at its Andy Well underground mine, accessing an initial resource of 96,000 ounces at 5.4 grams per tonne of gold. Judy North is now being developed on two levels, ...
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...
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.