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Metal Hawk Ltd. (AU:MHK)
ASX:MHK
US Market

Metal Hawk Ltd. (MHK) AI Stock Analysis

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AU:MHK

Metal Hawk Ltd.

(Sydney:MHK)

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Neutral 45 (OpenAI - 5.2)
Rating:45Neutral
Price Target:
AU$0.13
▲(32.00% Upside)
The score is primarily constrained by weak financial performance (minimal revenue, widening losses, and persistent cash burn with shrinking equity). Technicals are mixed with only modest near-term improvement and still-weak longer-term trend signals. Valuation is also limited by a negative P/E and no dividend yield support.
Positive Factors
Low leverage / solvency buffer
Very low debt levels materially reduce near-term solvency and interest burden, giving the company structural flexibility to manage operations or restructure without immediate default risk. This durable balance sheet characteristic preserves strategic options amid ongoing losses.
Public listing (access to capital)
Being listed on the ASX provides persistent access to public equity and capital markets, a durable advantage for a company with ongoing cash burn. This structural access increases ability to raise funds, issue equity, or use market instruments to finance operations or turnarounds.
Trading liquidity supports financing
A multi-month average volume of ~156k indicates reasonable tradability, which is a durable enabler for executing equity raises or attracting investor interest. Sufficient market liquidity improves the practical ability to access capital markets when funding is required.
Negative Factors
Persistent cash burn
Operating cash flow has been negative each year and free cash flow worsened in 2025, indicating sustained cash burn. Over several months this forces reliance on external financing; structurally, continuing negative cash generation threatens viability absent material operational or revenue improvements.
Minimal revenue & widening losses
Revenue is effectively zero in most years while net losses widened markedly (from -0.9M in 2020 to about -10.0M in 2025) and gross profit remains negative. This reflects a structurally unproven or unscalable business model that cannot self-sustain without a clear revenue recovery.
Eroding equity base
Equity declined materially over the latest year, shrinking the capital buffer available to absorb losses. Diminishing equity increases dilution and solvency risk, constrains borrowing capacity despite low debt, and raises the likelihood of recurring capital raises to sustain operations.

Metal Hawk Ltd. (MHK) vs. iShares MSCI Australia ETF (EWA)

Metal Hawk Ltd. Business Overview & Revenue Model

Company DescriptionMetal Hawk Limited engages in the acquisition, exploration, and development of mineral resource projects in Western Australia. It explores for gold and nickel sulphide deposits. The company's properties include the Kanowna East, Emu Lake, Fraser South, and Blair North and Clinker Hill projects. Metal Hawk Limited was incorporated in 2018 and is based in West Perth, Australia.
How the Company Makes MoneyMetal Hawk Ltd. generates revenue through the extraction, processing, and sale of precious and base metals. The primary revenue streams include the sale of raw and refined minerals to industrial clients and commodity markets. Strategic partnerships with mining contractors and technology providers enhance operational efficiency and reduce costs. Additionally, MHK may engage in joint ventures and collaborations with other mining firms to access new resources and expand its market presence, contributing to its revenue growth.

Metal Hawk Ltd. Financial Statement Overview

Summary
Overall fundamentals are weak: revenue is effectively minimal, losses have expanded sharply through 2025, and gross profit is consistently negative. Cash flow remains persistently negative with worsening free cash flow in 2025, indicating ongoing cash burn. The main support is very low leverage, but equity is shrinking materially, increasing reliance on external funding if performance does not improve.
Income Statement
12
Very Negative
Operating performance is weak and deteriorating. Revenue is effectively zero in most years (only a small revenue figure in 2023), while losses have expanded sharply, with net income declining from -0.9M (2020) to about -10.0M (2025). Gross profit is consistently negative, indicating the cost base is not supported by current revenue levels and profitability remains structurally challenged.
Balance Sheet
48
Neutral
Leverage is very low (debt-to-equity near zero across the period), which reduces solvency risk. However, equity has fallen materially (about 10.1M in 2024 to 6.4M in 2025), and returns on equity are deeply negative, reflecting ongoing losses eroding the capital base. Overall, the balance sheet is not highly leveraged but is weakening as losses persist.
Cash Flow
18
Very Negative
Cash generation is poor, with operating cash flow negative every year and free cash flow consistently negative, indicating ongoing cash burn. Free cash flow also worsened in 2025 versus 2024 (more negative), and cash outflows are not supported by earnings power. While free cash flow sometimes appears better than net income (due to non-cash charges), the company still requires funding to sustain operations absent a turnaround in cash flow.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue0.000.000.0046.07K0.000.00
Gross Profit-75.64K-75.64K-51.22K-63.21K-57.79K-32.50K
EBITDA-10.00M-9.91M-4.00M-1.65M-1.28M-1.43M
Net Income-9.99M-9.99M-4.27M-1.72M-1.34M-1.47M
Balance Sheet
Total Assets6.48M6.48M10.18M9.09M9.03M5.68M
Cash, Cash Equivalents and Short-Term Investments5.10M5.10M2.15M932.58K2.09M3.79M
Total Debt10.80K10.80K51.98K89.55K10.29K48.30K
Total Liabilities118.96K118.96K117.19K273.62K279.24K72.76K
Stockholders Equity6.36M6.36M10.06M8.82M8.76M5.61M
Cash Flow
Free Cash Flow-1.46M-1.03M-3.40M-2.09M-3.99M-2.36M
Operating Cash Flow-998.57K-998.57K-1.34M-748.10K-990.90K-926.37K
Investing Cash Flow-1.22M-1.22M-2.06M-1.34M-1.00M-3.44M
Financing Cash Flow5.00M5.00M4.62M952.22K2.30M6.04M

Metal Hawk Ltd. Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.10
Price Trends
50DMA
0.12
Positive
100DMA
0.12
Positive
200DMA
0.25
Negative
Market Momentum
MACD
<0.01
Negative
RSI
66.55
Neutral
STOCH
103.13
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MHK, the sentiment is Positive. The current price of 0.1 is below the 20-day moving average (MA) of 0.11, below the 50-day MA of 0.12, and below the 200-day MA of 0.25, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 66.55 is Neutral, neither overbought nor oversold. The STOCH value of 103.13 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:MHK.

Metal Hawk Ltd. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
57
Neutral
AU$133.60M-44.44-1.95%21.74%
51
Neutral
AU$292.76M-34.36-27.55%-71.00%9.44%
45
Neutral
AU$16.66M-1.41-121.65%-100.21%
45
Neutral
AU$69.04M-7.96-116.65%-11.33%
43
Neutral
AU$41.44M-6.89-13.86%-12.34%
42
Neutral
AU$26.23M-2.64-27.12%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:MHK
Metal Hawk Ltd.
0.14
-0.18
-56.45%
AU:PEX
Peel Mining Limited
0.16
0.06
52.38%
AU:RDM
Red Metal Limited
0.18
0.06
50.00%
AU:BML
Boab Metals Ltd
0.56
0.40
239.39%
AU:LEL
Lithium Energy Ltd.
0.37
0.00
0.00%
AU:MNB
Minbos Resources Limited
0.02
-0.03
-56.36%

Metal Hawk Ltd. Corporate Events

Metal Hawk Flags New Priority Gold Target at Leinster South After SAM Survey
Jan 26, 2026

Metal Hawk has identified a new priority gold drill target at its Leinster South Project after processing Sub-Audio Magnetics (SAM) survey data collected over the Thylacine and Tysons prospect areas. The survey outlined a 400m by 100m zone of strong conductivity and possible shearing along a north-south granite–greenstone contact north of the Tysons gold trend, a structural corridor already shown to host high-grade gold at surface and in limited drilling. Recent rock-chip sampling from the edge of the conductive zone returned grades up to 2.7 grams per tonne gold, reinforcing the contact’s prospectivity, while petrographic work across the project has confirmed multiple styles of gold mineralisation. Metal Hawk plans to begin reverse circulation drilling of the new target in February 2026 and will also undertake additional drilling at the nearby Thylacine prospect to follow up recent high-grade intersections and test untested areas, stepping up its exploration push in a proven gold district.

The most recent analyst rating on (AU:MHK) stock is a Sell with a A$0.13 price target. To see the full list of analyst forecasts on Metal Hawk Ltd. stock, see the AU:MHK Stock Forecast page.

Metal Hawk Confirms High-Grade Gold in First Thylacine Diamond Drilling
Dec 21, 2025

Metal Hawk has reported strong assay results from its first diamond drilling program at the Thylacine prospect within the Leinster South Project, confirming high-grade gold mineralisation in both quartz veins and the hosting Thylacine gabbro. Five diamond holes totalling 1,595 metres intersected multiple significant zones, including standout results of 2.3 metres at 15.28 g/t gold from near surface and deeper intercepts such as 1.7 metres at 7.71 g/t gold, reinforcing the presence of a substantial gold system and improving the company’s geological understanding of the project. Supported in part by Western Australia’s Exploration Incentive Scheme and building on earlier high-grade RC drilling, these results position Metal Hawk to advance follow-up drilling in early 2026 and to test additional high-grade targets across the broader Leinster South area, potentially enhancing the project’s scale and the company’s growth prospects in the gold exploration sector.

Metal Hawk Ltd. Announces Change in Director’s Interest
Dec 2, 2025

Metal Hawk Ltd. has announced a change in the director’s interest, specifically involving Michael Edwards, who holds indirect interests through Shadwick Nominees Pty Ltd. This change includes a substantial number of fully paid ordinary shares and unlisted options, potentially impacting the company’s governance and shareholder dynamics.

Metal Hawk Ltd. Announces Director’s Acquisition of Unlisted Options
Dec 2, 2025

Metal Hawk Ltd. announced a change in the director’s interest, with William Belbin acquiring 1,500,000 unlisted options exercisable at $0.24, expiring on December 1, 2030. This change reflects a strategic move by the director, potentially indicating confidence in the company’s future prospects and impacting stakeholder perceptions positively.

Metal Hawk Limited Announces Change in Director’s Interest
Dec 2, 2025

Metal Hawk Limited has announced a change in the director’s interest, specifically involving David Pennock, who has indirect interests through WAGOE INVESTMENTS PTY LTD. The notice details the securities held by Mr. Pennock, including fully paid ordinary shares, unlisted options, and performance rights. This change in director’s interest could influence the company’s governance and stakeholder confidence, as it reflects internal adjustments in shareholding and potential strategic shifts.

Metal Hawk Ltd. Updates Director’s Interest Notice
Dec 1, 2025

Metal Hawk Ltd. has announced a change in the director’s interest notice, specifically concerning William Belbin, who holds an indirect interest through Camelwood Investments Pty Ltd. The notice details the securities held prior to the change, including fully paid ordinary shares and unlisted options, but indicates no new acquisitions. This update reflects the company’s compliance with ASX listing rules and provides transparency in its governance practices, which may reassure stakeholders about the company’s commitment to regulatory obligations.

Metal Hawk Limited Announces Change in Director’s Securities Interest
Dec 1, 2025

Metal Hawk Limited has announced a change in the director’s interest, specifically involving David Pennock, who holds indirect interests through Wagoe Investments Pty Ltd. The change reflects an update in the number of securities, including fully paid ordinary shares and unlisted options, which could impact the company’s governance and stakeholder interests.

Metal Hawk Ltd. Announces Expiry of 2.55 Million Options
Dec 1, 2025

Metal Hawk Ltd. announced the cessation of 2,550,000 options that expired on November 30, 2025, without being exercised or converted. This development may impact the company’s capital structure and could influence investor perceptions regarding the company’s financial strategies and future growth prospects.

Metal Hawk Ltd. AGM: Strong Shareholder Support for Key Resolutions
Nov 28, 2025

Metal Hawk Ltd. held its Annual General Meeting on November 28, 2025, where shareholders voted on several key resolutions. The resolutions included the approval of the remuneration report, re-election of director Michael Edwards, approval of a 10% placement facility, ratification of prior issue of placement shares, and approval of director options for David Pennock, William Belbin, and Michael Edwards. All resolutions were carried with significant majorities, indicating strong shareholder support for the company’s strategic decisions.

Metal Hawk Completes Maiden Drilling at Leinster South
Nov 12, 2025

Metal Hawk Limited has completed its maiden diamond drilling program at the Leinster South Project, drilling five holes totaling 1,595 meters at the Thylacine Prospect. The program aimed to test deeper structural gold targets and follow up on high-grade results from recent reverse circulation drilling. The drilling was partially funded by the WA Government’s Exploration Incentive Scheme. Additionally, Metal Hawk has conducted a Sub-Audio Magnetics survey to identify structural trends and conductive zones, with data processing underway. The company is also analyzing preliminary data from an aeromagnetic and radiometric survey to refine exploration targets at Leinster South and the nearby Pepperill Hill Project.

Metal Hawk Limited Announces Change of Address
Nov 3, 2025

Metal Hawk Limited has announced a change in its principal place of business and registered office address to Suite 2, Level 1, 1292 Hay Street, West Perth WA 6005. This change is effective immediately and aligns with ASX Listing Rule 3.14. The company’s other contact details remain unchanged, indicating a seamless transition for stakeholders.

Metal Hawk Limited Announces 2025 Annual General Meeting
Oct 29, 2025

Metal Hawk Limited has announced its Annual General Meeting scheduled for November 28, 2025, in West Perth, Australia. The meeting will cover the company’s annual report, a non-binding vote on the remuneration report, and the re-election of director Michael Edwards. Shareholders are encouraged to participate by lodging their proxy forms. The meeting’s outcomes could impact the company’s governance and shareholder engagement.

Metal Hawk Limited’s 2025 Annual Report Highlights Key Project Developments
Oct 27, 2025

Metal Hawk Limited has released its annual report for the year ended 30 June 2025, detailing its exploration activities and project developments in Western Australia. The report highlights progress in several key projects, such as the Leinster South Project and Siberian Tiger, which are crucial for the company’s growth and positioning in the mining sector. These developments are expected to impact the company’s operations positively, enhancing its market presence and offering potential benefits for stakeholders.

Metal Hawk Ltd. Releases Updated Corporate Governance Statement
Oct 27, 2025

Metal Hawk Ltd. has released its corporate governance statement, which is now available on their website. The statement outlines the company’s adherence to the ASX Corporate Governance Council’s principles and recommendations. This announcement reflects Metal Hawk’s commitment to transparency and accountability in its management practices, which is crucial for maintaining investor trust and aligning with industry standards.

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.Date of analysis: Jan 08, 2026