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Meeka Gold Limited
(Sydney:MEK)
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Rating:45Neutral
Price Target:
AU$0.09
▼(-45.00% Downside)
Action:Reiterated
Date:07/18/26
The score is primarily held back by weak financial performance (ongoing losses and sharply deteriorating free cash flow) and bearish technicals (price below key moving averages with negative momentum indicators). A low P/E provides some valuation support, but it is not enough to offset the elevated cash-burn and trend risks.
Positive Factors
Balance Sheet Strength
Very low leverage and a large equity base provide structural financial flexibility for a resource developer. This reduces near-term refinancing pressure, supports multi-year exploration programs, and preserves optionality to fund project advancement or absorb delays without immediate forced capital raises.
Negative Factors
Severe Cash Burn
A large and worsening outflow of free cash over the last year magnifies dependence on external funding. Persistent negative FCF strains liquidity, raises dilution or debt risks, and can delay exploration or development milestones if capital markets tighten or project economics need rephasing.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
Very low leverage and a large equity base provide structural financial flexibility for a resource developer. This reduces near-term refinancing pressure, supports multi-year exploration programs, and preserves optionality to fund project advancement or absorb delays without immediate forced capital raises.
Read all positive factors
Meeka Gold Limited (MEK) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$298.41M
Dividend YieldN/A
Average Volume (3M)21.90M
Price to Earnings (P/E)9.1
Beta (1Y)0.95
Revenue GrowthN/A
EPS GrowthN/A
CountryAU
Employees109
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)<0.01
Shares Outstanding2,984,138,200
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)0.04
Revenue Forecast (FY)AU$384.90M
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
Negative
0.16
Price Trends
0.11
Negative
0.14
Negative
0.19
Negative
Market Momentum
>-0.01
Positive
37.24
Neutral
>-0.01
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 above the 20-day moving average (MA) of 0.10, above the 50-day MA of 0.11, and below the 200-day MA of 0.19, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 37.24 is Neutral, neither overbought nor oversold. The STOCH value of >-0.01 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$254.47M | 5.77 | 16.50% | 3.30% | 22.05% | 256.19% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
49 Neutral | AU$319.91M | 35.49 | 10.73% | ― | 78.18% | ― | |
47 Neutral | AU$240.80M | -31.58 | -5.27% | ― | ― | 7.64% | |
46 Neutral | AU$476.64M | -27.05 | -8.63% | ― | ― | 29.23% | |
45 Neutral | AU$298.41M | 9.09 | 17.19% | ― | ― | ― | |
42 Neutral | AU$362.32M | -2.72 | -33.09% | ― | 2076.67% | -0.61% |
* Basic Materials Sector Average
AU:MEK
Meeka Gold Limited
0.09
-0.05
-37.93%
AU:BCN
Beacon Minerals
2.63
1.51
134.19%
AU:AUC
Ausgold Limited
0.83
0.26
45.50%
AU:TBR
Tribune Resources Limited
4.85
0.26
5.73%
AU:STN
Saturn Metals Ltd.
0.42
0.01
2.44%
AU:BTR
Brightstar Resources Limited
0.32
-0.17
-35.05%
Meeka Gold Limited Corporate Events
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...
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...
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.