Minerals 260 Limited (AU:MI6)
ASX:MI6
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Minerals 260 Limited
(Sydney:MI6)
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Rating:51Neutral
Price Target:
AU$0.68
â–¼(-0.29% Downside)
Action:ReiteratedDate:03/24/26
The score is held down primarily by weak financial performance (pre-revenue, persistent losses, and significant cash burn), partially offset by low leverage and an improved FY2025 equity/asset base. Technical indicators are moderately supportive (price above key longer-term moving averages with neutral RSI), but valuation is constrained by negative earnings and no dividend support.
Positive Factors
Low leverage & improved capital base
Very low leverage reduces immediate financial distress risk and the sharp increase in equity and assets in FY2025 provides runway for multi-year exploration programs. A stronger capital base supports continued field work and potential partner or JV activity over the next several quarters.
Negative Factors
Pre-revenue with persistent losses
Remaining pre-revenue with sustained operating losses is a durable risk: exploration typically requires prolonged capital without near-term income. This forces continued reliance on external funding, raising dilution risk and constraining ability to self-fund advancement to development stages.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage & improved capital base
Very low leverage reduces immediate financial distress risk and the sharp increase in equity and assets in FY2025 provides runway for multi-year exploration programs. A stronger capital base supports continued field work and potential partner or JV activity over the next several quarters.
Read all positive factors
Minerals 260 Limited (MI6) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$1.56B
Dividend YieldN/A
Average Volume (3M)11.52M
Price to Earnings (P/E)―
Beta (1Y)0.60
Revenue GrowthN/A
EPS Growth50.30%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.01
Shares Outstanding2,263,627,700
10 Day Avg. Volume13,812,226
30 Day Avg. Volume11,516,671
Financial Highlights & Ratios
PEG Ratio0.15
Price to Book (P/B)0.38
Price to Sales (P/S)0.00
P/FCF Ratio-9.63
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$1.07Price Target Upside56.86% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-0.01
Revenue Forecast (FY)N/A
Minerals 260 Limited Business Overview & Revenue Model
Company Description
Minerals 260 Limited operates as a mineral exploration company in Australia. The company intends to hold a 100% interest in the Moora gold-nickel-copper-PGE project; an option to earn a 51% interest in the Koojan gold-nickel-copper-PGE project; an...
How the Company Makes Money
Minerals 260 Limited makes money through its primary business activity of exploring and developing mineral resources. The company generates revenue by discovering commercially viable mineral deposits, which may then be developed into operating min...
Minerals 260 Limited Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
58
Neutral
Cash Flow
23
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -119.80K | -161.56K | -155.00K | 0.00 | -1.69K | 0.00 |
| EBITDA | -33.17M | -12.74M | -8.14M | -13.85M | -88.58M | 12.36K |
| Net Income | -31.01M | -11.52M | -7.71M | -13.11M | -88.59M | -1.12K |
Balance Sheet | ||||||
| Total Assets | 214.74M | 238.76M | 12.05M | 17.52M | 23.73M | 27.78M |
| Cash, Cash Equivalents and Short-Term Investments | 31.17M | 54.38M | 11.10M | 17.08M | 23.47M | 27.78M |
| Total Debt | 446.17K | 510.24K | 624.38K | 96.76K | 0.00 | 1.12K |
| Total Liabilities | 16.11M | 16.95M | 1.18M | 911.75K | 569.29K | 47.04K |
| Stockholders Equity | 198.63M | 221.82M | 10.87M | 16.61M | 23.16M | 27.73M |
Cash Flow | ||||||
| Free Cash Flow | -31.97M | -8.74M | -5.92M | -6.34M | -5.18M | 0.00 |
| Operating Cash Flow | -31.23M | -8.49M | -5.82M | -5.83M | -5.08M | 0.00 |
| Investing Cash Flow | -159.46M | -158.97M | -100.40K | -508.98K | -102.03K | 0.00 |
| Financing Cash Flow | 210.76M | 210.74M | -57.49K | -50.88K | 28.65M | 0.00 |
Minerals 260 Limited Technical Analysis
Positive
0.68
Price Trends
0.56
Positive
0.47
Positive
0.33
Positive
Market Momentum
0.03
Negative
58.35
Neutral
81.82
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MI6, the sentiment is Positive. The current price of 0.68 is above the 20-day moving average (MA) of 0.63, above the 50-day MA of 0.56, and above the 200-day MA of 0.33, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 58.35 is Neutral, neither overbought nor oversold. The STOCH value of 81.82 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:MI6.
Minerals 260 Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
51 Neutral | AU$1.56B | -9.42 | -9.90% | ― | ― | 50.30% | |
49 Neutral | AU$8.99M | -0.43 | -104.33% | ― | -100.00% | 80.33% | |
47 Neutral | AU$8.27M | -5.81 | -11.29% | ― | ― | -6.38% | |
46 Neutral | AU$28.57M | -1.27 | -71.24% | ― | ― | 8.81% | |
44 Neutral | AU$4.18M | -0.72 | -171.67% | ― | ― | 30.99% | |
43 Neutral | AU$6.64M | -0.67 | -16.54% | ― | ― | 54.74% |
* Basic Materials Sector Average
AU:MI6
Minerals 260 Limited
0.68
0.55
419.23%
AU:KFM
Kingfisher Mining Ltd.
0.08
0.04
95.00%
AU:RCR
Rincon Resources Ltd.
0.02
<0.01
20.00%
AU:BPM
BPM Minerals Ltd.
0.22
0.18
450.00%
AU:DUN
Dundas Minerals Limited
0.05
0.02
67.86%
AU:M3M
M3 Mining Ltd.
0.02
-0.02
-45.00%
Minerals 260 Limited Corporate Events
Minerals 260 hits high grades as Bullabulling drilling underpins resource growth and studies
Mar 29, 2026
Minerals 260 has reported strong new drilling results from the Bullabulling Gold Project, including standout intercepts of 7m at 7.2 g/t gold and 28m at 1.7 g/t gold at the Bacchus deposit, alongside high-grade hits at Phoenix. These results, from...
Minerals 260 to Release 83 Million Escrowed Shares Linked to Bullabulling Deal
Mar 25, 2026
Minerals 260 Limited will see 83,333,333 fully paid ordinary shares released from escrow on 3 April 2026, following their issue to Norton Gold Fields as partial consideration for the Bullabulling Gold Project acquisition in April 2025. The company...
Minerals 260 Clears FIRB Hurdle for Final $95m Franco-Nevada Funding Tranche
Mar 22, 2026
Minerals 260 has confirmed that Franco-Nevada has received Foreign Investment Review Board approval for mortgage arrangements over certain Bullabulling Gold Project tenements in Western Australia. This clears the final condition for payment of a $...
Minerals 260 to Brief Investors on Bullabulling Gold Project and Major Funding Deal
Mar 16, 2026
Minerals 260 Limited will host a live investor webinar on 20 March 2026 to provide an update on activities at its Bullabulling Gold Project in Western Australia. The session, led by Managing Director Luke McFadyen, will cover exploration progress,...
Minerals 260 Director Increases Indirect Shareholding Through Option Exercise
Mar 12, 2026
Minerals 260 Limited has reported a change in the indirect holdings of director Emma Josephine Scotney following the exercise of unlisted options. Through Warialda Pty Ltd as trustee for The Sconti Trust, Scotney converted 750,000 unlisted options...
Minerals 260 Seeks ASX Quotation for 1 Million New Shares
Mar 12, 2026
Minerals 260 Limited, an Australian mineral exploration and development company listed on the ASX under the ticker MI6, focuses on progressing mineral assets within the resources sector. Its activities are geared toward discovering and developing ...
Minerals 260 Files Interim Financial Report for Half-Year to 31 December 2025
Mar 9, 2026
Minerals 260 Limited has released its interim financial report for the half-year ended 31 December 2025, providing stakeholders with an update on its financial position and corporate structure. The report highlights the company’s governance ...
Minerals 260 Strengthens Technical Team with New Geology Chief for Bullabulling
Mar 4, 2026
Minerals 260 Limited has appointed experienced geologist Mark Muller as General Manager – Geology, strengthening its technical leadership as it advances the 4.5Moz Bullabulling Gold Project near Kalgoorlie in Western Australia. Muller, who h...
Retail Employees Super Fund Exits Substantial Holding in Minerals 260
Mar 3, 2026
Retail Employees Superannuation Pty Limited, acting as trustee of the Retail Employee Superannuation Trust, has notified Minerals 260 Limited that it has ceased to be a substantial shareholder in the company as of 27 February 2026. The change foll...
Minerals 260 Seeks ASX Quotation for 111 Million New Shares
Feb 26, 2026
Minerals 260 Limited has applied to the ASX for quotation of 111,111,111 new ordinary fully paid shares under the code MI6, with an issue date of 26 February 2026. The move significantly increases the company’s quoted share base, indicating ...
Minerals 260 Plans Major Share Placement to Boost Capital Base
Feb 22, 2026
Minerals 260 Limited has outlined plans for a significant new equity issuance, proposing to issue up to 111,111,111 ordinary fully paid shares on the ASX. The proposed placement, scheduled for 26 February 2026, is intended to expand the company...
Minerals 260 Secures $220m Franco-Nevada Deal to Fast-Track Bullabulling Gold Project
Feb 22, 2026
Minerals 260 has secured a $220 million strategic funding package from Franco-Nevada Corporation to accelerate and de-risk development of its Bullabulling Gold Project in Western Australia. The deal underscores strong external validation of Bullab...
Minerals 260 Appoints New Director and Discloses Indirect Equity Interests
Feb 8, 2026
Minerals 260 Limited has appointed Adam Smits as a director effective 9 February 2026, with an initial disclosure showing he holds no securities in his own name. This appointment triggers a formal notification of his indirect interests through his...
Minerals 260 Strengthens Board and Governance to Drive Bullabulling Gold Project
Feb 8, 2026
Minerals 260 Limited has appointed experienced mining executive and mechanical engineer Adam Smits as an independent Non-Executive Director, transitioning from his recent consulting role with the company. Smits, who previously served as COO of Lio...
Minerals 260 Lifts Bullabulling Resource to 4.5Moz as Project Moves Toward Development
Jan 27, 2026
Minerals 260 has reported a substantial upgrade to the Mineral Resource Estimate at its 100%-owned Bullabulling Gold Project, lifting resources to 130Mt at 1.0g/t gold for 4.5Moz, a 2.2Moz increase since acquisition in April 2025. The December 202...
Minerals 260 to Issue 3 Million Unquoted Employee Incentive Options
Jan 5, 2026
Minerals 260 Limited has notified the ASX of the planned issue of 3 million unquoted options under an employee incentive scheme, comprising 1.5 million options exercisable at $0.35 and 1.5 million options exercisable at $0.41, both expiring on 3 N...
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.