Marmota Limited (MEU) AI Stock Analysis

• Market Cap: AU$182.95M
• Dividend Yield: N/A
• Average Volume (3M): 5.26M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.87
• Revenue Growth: N/A
• EPS Growth: -275.00%
• Country: AU
• Employees: 5
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 1,180,305,800
• 10 Day Avg. Volume: 11,852,827
• 30 Day Avg. Volume: 5,256,691
• PEG Ratio: -0.09
• Price to Book (P/B): 1.88
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -94.42
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 56 Neutral
• Price Target: AU$0.18 ▲(45.83% Upside)

The score is held back primarily by weak financial performance (pre-revenue profile, losses, and cash burn) and a negative P/E with no dividend support. This is partially offset by strong technical momentum (price above key moving averages with positive MACD), though overbought signals increase short-term pullback risk.

Positive Factors

Low leverage / strong balance sheet

Very low debt-to-equity (~0.4% in FY2025) materially reduces solvency risk and interest burden. This structural strength gives management flexibility to fund exploration via equity, negotiate farm-outs or joint ventures, and absorb exploration cycles without imminent creditor pressure.

Growing equity base

Equity rising from ~9.1m (FY2020) to ~22.7m (FY2025) strengthens the asset base and signals historical access to capital. A larger equity base reduces near-term liquidity risk, supports expanded exploration budgets, and increases credibility with potential partners over the medium term.

Clear exploration-stage funding model

The company follows the typical exploration model of funding geological work via capital raisings and monetising success through sales, farm-outs or development. This established pathway is a durable industry mechanism that enables value crystallisation if exploration results deliver resources.

Negative Factors

Recurring operating losses

Widening net losses consume shareholder capital and depress returns (FY2025 ROE cited as negative), undermining the company’s ability to compound capital. Sustained operating losses increase the likelihood of dilutive equity raises and constrain investment in higher-impact exploration programs.

Negative and volatile cash flow

Consistently negative and volatile operating and free cash flow limits self-funding ability for drilling and evaluation. Reliance on external funding increases financing risk and dilutive pressure, and reduces optionality to accelerate promising programs or close strategic deals without issuing equity.

Minimal recurring revenue / pre-revenue profile

The company generates little to no operating revenue, so long-term value hinges entirely on exploration success. That binary outcome creates high structural risk: absent a discovery or sale/farm-out, there is no margin sustainability or operating cash generation to support growth.

Marmota Limited Business Overview & Revenue Model

Company Description

Marmota Limited engages in the exploration of mineral properties in Australia. It explores for gold, copper, and uranium deposits. The company's flagship project is the Junction Dam uranium project located to the west of Broken Hill, Australia. Marmota Limited was incorporated in 2006 and is based in Glenelg, Australia.

How the Company Makes Money

Marmota Limited generates revenue primarily through the exploration and eventual development of mining projects. The company invests in identifying and evaluating mineral deposits, which can be developed into mining operations. Revenue is generated through the sale of discovered minerals, such as gold, uranium, and copper, once these projects are developed and operational. Additionally, Marmota may form joint ventures or partnerships with other mining companies to share exploration and development costs, which can also lead to revenue sharing arrangements. The company’s earnings are significantly influenced by commodity prices, exploration success, and its ability to efficiently bring projects from exploration to production.

Marmota Limited Financial Statement Overview

Summary

Overall financial profile is weak due to minimal revenue, persistent operating losses, and ongoing cash burn. The main offsetting strength is a conservatively levered balance sheet with very low debt and a growing equity base, which reduces near-term solvency risk.

Income Statement

The income statement shows a pre-revenue/early-stage profile with minimal to zero sales in most years (only a very small revenue figure in FY2022–FY2023), alongside consistently negative gross profit and sizable operating losses. Losses widened materially in FY2025 (net loss ~1.7m vs ~0.4m in FY2024), indicating cost pressure and limited operating leverage. While low revenue can be normal for an exploration-stage materials company, the lack of a clear top-line ramp and the recent step-up in losses weigh heavily on quality and trajectory.

Balance Sheet

The balance sheet is a relative strength: debt is very low versus equity (debt-to-equity ~0.4% in FY2025), which reduces financial risk and provides flexibility. Equity has grown over time (roughly 9.1m in FY2020 to ~22.7m in FY2025), supporting the asset base. The key weakness is ongoing negative returns on equity driven by recurring losses (FY2025 return on equity around -7.5%), suggesting shareholder capital is being consumed rather than compounded.

Cash Flow

Cash flow is weak and volatile, with operating cash flow consistently negative every year shown and free cash flow deeply negative (about -0.45m in FY2025 after about -1.83m in FY2024). The FY2025 free cash flow burn improved sharply versus FY2024, but the business still requires external funding to sustain operations. The pattern indicates continued cash investment/overheads without corresponding revenue generation, keeping near-term self-funding capability limited.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	2.87K	1.92K	0.00
Gross Profit	-35.74K	-35.74K	-29.91K	-30.53K	-29.07K	-27.82K
EBITDA	-1.73M	-1.68M	-371.12K	-322.29K	-391.26K	-270.47K
Net Income	-1.71M	-1.71M	-401.03K	-355.70K	-422.25K	-298.29K
Balance Sheet
Total Assets	23.50M	23.50M	20.49M	19.57M	16.00M	15.46M
Cash, Cash Equivalents and Short-Term Investments	4.90M	4.90M	3.60M	4.05M	2.16M	4.13M
Total Debt	100.25K	100.25K	78.81K	57.28K	88.66K	68.60K
Total Liabilities	789.88K	789.88K	820.60K	749.79K	901.64K	488.41K
Stockholders Equity	22.71M	22.71M	19.67M	18.82M	15.10M	14.97M
Cash Flow
Free Cash Flow	-2.50M	-451.78K	-1.83M	-2.12M	-1.99M	-1.93M
Operating Cash Flow	-444.21K	-444.21K	-287.49K	-396.87K	-504.69K	-240.13K
Investing Cash Flow	-2.93M	-2.93M	-1.56M	-1.74M	-1.49M	-4.19M
Financing Cash Flow	4.67M	4.67M	1.21M	4.03M	21.79K	6.11M

Marmota Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.12
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MEU, the sentiment is Positive. The current price of 0.12 is below the 20-day moving average (MA) of 0.16, below the 50-day MA of 0.12, and above the 200-day MA of 0.07, indicating a bullish trend. The MACD of 0.01 indicates Positive momentum. The RSI at 57.08 is Neutral, neither overbought nor oversold. The STOCH value of 47.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:MEU.

Marmota Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
MEU	56 Neutral	AU$182.95M	-103.33	-8.09%	―	―	-275.00%
DRE	50 Neutral	AU$141.06M	-5.21	-36.29%	―	―	-166.67%
GBR	49 Neutral	AU$109.58M	-20.83	-12.09%	―	―	81.03%
MSV	48 Neutral	AU$86.90M	164.00	0.85%	―	-16.97%	-94.15%
ADN	46 Neutral	AU$64.70M	-7.78	-3.86%	―	―	21.74%
HAS	45 Neutral	AU$118.71M	-0.44	-116.31%	―	―	-414.88%

Marmota Limited Corporate Events

Marmota Defines 900m High‑Grade Gold Zone at Greenewood in Gawler Craton

Marmota has reported outstanding maiden drilling results from the Greenewood discovery within its Gawler Gold Project, defining a nearly continuous high‑grade gold zone extending about 900 metres along strike, with multiple shallow, bonanza‑grade intercepts, including a standout 33 metres at 10 g/t gold from 22 metres depth. A second round of drilling at Greenewood has been completed with assays due in February, and the results will feed into a scoping study, while preparations are under way for first drilling at the adjacent Mainwood prospect, highlighting the potential for a significant new gold camp that could materially enhance the company’s project pipeline and regional footprint.

The most recent analyst rating on (AU:MEU) stock is a Hold with a A$0.18 price target. To see the full list of analyst forecasts on Marmota Limited stock, see the AU:MEU Stock Forecast page.

Marmota Unveils Spectacular Gold Discovery at Greenewood

Marmota Limited has announced the results of its maiden drilling program at the Greenewood gold discovery, revealing exceptional gold grades over a 900-meter strike length. The assays indicate a nearly continuous high-grade mineralized system with bonanza gold grades close to the surface, marking one of the most significant discoveries in the Gawler Craton since 1995. This discovery could significantly enhance Marmota’s position in the gold mining industry and potentially deliver substantial value to its stakeholders.

Marmota Limited Announces Director’s Share Acquisition

Marmota Limited announced a change in the director’s interest, with Neville Bergin acquiring an additional 1,000,000 ordinary shares through the exercise of unlisted options. This transaction, approved at the November 2023 AGM, increases Bergin’s total holdings to 1,330,000 ordinary shares, reflecting the company’s ongoing commitment to aligning management interests with shareholder value.

Marmota Limited Announces Quotation of New Securities on ASX

Marmota Limited announced the quotation of 2,000,000 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of November 26, 2025. This move signifies the company’s ongoing efforts to strengthen its financial position and potentially increase its market presence, which could have implications for its stakeholders by enhancing liquidity and providing opportunities for investment.

Marmota Limited Advances Greenewood Gold Drilling Project

Marmota Limited has commenced Stage 2 of its drilling program at the Greenewood gold discovery in South Australia’s Gawler Craton. This follows the successful results from Stage 1, which revealed high-grade gold deposits. The current drilling phase plans for approximately 85 holes, aiming for a total of 8,500 meters of drilling, with operations expected to continue until the Christmas break. This advancement underscores Marmota’s strategic efforts to enhance its gold exploration and potentially increase its market positioning within the mining sector.

Marmota Limited Successfully Passes All Resolutions at AGM

Marmota Limited announced the results of its Annual General Meeting, where all proposed resolutions were passed. These included the adoption of the remuneration report, re-election of a director, ratification of share issuance, approval of a 10% placement capacity, and renewal of a partial takeover clause. The successful passing of these resolutions reflects strong shareholder support and positions the company for continued strategic initiatives.

Marmota Limited’s Financial Overview and Strategic Focus

Marmota Limited, listed on the ASX under the ticker MEU, has a market capitalization of approximately $77 million with 1,178 million shares on issue. The company reported a cash position of $3.7 million as of September 30, 2025. The top 100 shareholders hold 64% of the company, indicating a concentrated ownership structure. The board is led by Dr. Colin Rose as Executive Chairman, with a focus on exploration success, resource growth, and enhancing shareholder wealth.

Marmota Limited Initiates Stage 2 Drilling at Greenewood Gold Project

Marmota Limited has announced the commencement of Stage 2 drilling at its Greenewood gold project, following impressive results from the initial drilling phase. The new phase aims to further explore the high-grade gold intersections discovered, potentially enhancing Marmota’s position in the gold mining sector and offering promising implications for stakeholders.