Minerals 260 Limited (AU:MI6)
ASX:MI6
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Minerals 260 Limited
(Sydney:MI6)
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Rating:54Neutral
Price Target:
AU$0.91
▲(16.41% Upside)
Action:Reiterated
Date:04/16/26
The score is held down primarily by weak financial performance (pre-revenue, ongoing losses, and sustained cash burn), partially offset by a low-debt balance sheet. Technicals are notably supportive (strong uptrend vs key moving averages with positive MACD), while valuation remains pressured due to the negative P/E and lack of dividend data.
Positive Factors
Low leverage and larger equity base
Very low debt and a sharply larger equity/asset base in FY2025 provide durable financial flexibility for an exploration company. This reduces short-term default risk, supports ongoing drilling and permitting spend without immediate debt pressure, and lengthens runway for project advancement.
Negative Factors
Pre-revenue with persistent losses
Being pre-revenue with recurring, sizable operating losses is a durable fundamental constraint: without commercial production or asset monetisation, the business cannot self-fund growth. Continued negative earnings increases reliance on external funding and delays any path to positive free cash flow.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage and larger equity base
Very low debt and a sharply larger equity/asset base in FY2025 provide durable financial flexibility for an exploration company. This reduces short-term default risk, supports ongoing drilling and permitting spend without immediate debt pressure, and lengthens runway for project advancement.
Read all positive factors
Minerals 260 Limited (MI6) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$2.02B
Dividend YieldN/A
Average Volume (3M)11.52M
Price to Earnings (P/E)―
Beta (1Y)1.15
Revenue GrowthN/A
EPS Growth20.35%
CountryAU
Employees19
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding2,268,149,700
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$1.28Price Target Upside64.53% 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 is an Australian firm primarily focused on mineral exploration. The company plans to secure complete ownership (100%) of the Moora project, which targets gold, nickel, copper, and platinum group elements (PGEs). It also posses...
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 | -24.78M | -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
0.78
Price Trends
0.80
Positive
0.68
Positive
0.50
Positive
Market Momentum
0.02
Negative
63.56
Neutral
89.54
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 0.78 is below the 20-day moving average (MA) of 0.84, below the 50-day MA of 0.80, and above the 200-day MA of 0.50, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 63.56 is Neutral, neither overbought nor oversold. The STOCH value of 89.54 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% | |
54 Neutral | AU$2.02B | -62.44 | -14.75% | ― | ― | 20.35% | |
53 Neutral | AU$8.74M | -16.40 | -11.29% | ― | ― | 85.50% | |
49 Neutral | AU$11.75M | -1.63 | -104.33% | ― | ― | -123.57% | |
48 Neutral | AU$8.88M | -2.47 | -16.54% | ― | ― | -25.45% | |
46 Neutral | AU$23.44M | -4.47 | -71.24% | ― | ― | 47.13% | |
44 Neutral | AU$5.01M | -1.19 | -171.67% | ― | ― | 17.53% |
* Basic Materials Sector Average
AU:MI6
Minerals 260 Limited
0.89
0.77
641.67%
AU:KFM
Kingfisher Mining Ltd.
0.08
0.04
110.00%
AU:RCR
Rincon Resources Ltd.
0.02
<0.01
30.77%
AU:BPM
BPM Minerals Ltd.
0.18
0.15
500.00%
AU:DUN
Dundas Minerals Limited
0.05
0.03
163.16%
AU:M3M
M3 Mining Ltd.
0.02
>-0.01
-20.00%
Minerals 260 Limited Corporate Events
Minerals 260 drilling at Bullabulling underpins resource growth and development timeline
Jun 8, 2026
Minerals 260 has reported further strong drilling results from the Bullabulling Gold Project, with assays from 83 new holes confirming continuity of mineralisation across the Bacchus, Phoenix, Dicksons and Kraken deposits. The results also demonst...
Minerals 260 Joins S&P/ASX 200 in June Index Rebalance
Jun 5, 2026
SP Dow Jones Indices has announced its June 2026 quarterly rebalance of the SP/ASX indices, with several changes across the SP/ASX 50, 100, 200 and All Technology indices effective before trading opens on June 22. The SP/ASX 20 remains unchanged, ...
Minerals 260 Director Increases Indirect Shareholding via On-Market Purchase
May 4, 2026
Minerals 260 has disclosed a change in the interests of director Luke McFadyen, reflecting an on-market purchase of additional fully paid ordinary shares through his AustralianSuper account. The transaction increases his indirect equity stake whil...
Minerals 260 Updates Registered Office and Business Address in West Perth
Apr 30, 2026
Minerals 260 Limited has announced that it will change its registered office and principal place of business to new premises on Kings Park Road in West Perth, Western Australia, effective 4 May 2026. The company’s postal address and main tel...
Minerals 260 awards $59m village contract at Bullabulling gold project
Apr 29, 2026
Minerals 260 Limited has awarded a $59.1 million fixed-price contract to ATCO Structures Logistics to design and construct an initial 400-person accommodation village at its 100%-owned Bullabulling Gold Project in Western Australia. The on-site v...
Minerals 260 locks in $220m Franco-Nevada funding to fast-track Bullabulling
Apr 27, 2026
Minerals 260 has secured a $220 million strategic funding package from Franco-Nevada, combining $170 million in royalty financing with a $50 million equity investment at a premium, to accelerate and de-risk development of its 4.5Moz Bullabulling G...
Minerals 260 Issues 415,915 Unquoted Performance Rights Under Incentive Scheme
Apr 17, 2026
Minerals 260 Limited has notified the market of the issue of 415,915 unquoted performance rights under its employee incentive scheme. These securities, which will not be quoted on the ASX, represent an expansion of the company’s equity-based...
Minerals 260 Seeks Quotation of 83 Million Newly Tradable Shares
Apr 8, 2026
Minerals 260 Limited has applied to the ASX for quotation of 83,333,333 ordinary fully paid shares following the expiry of escrow restrictions. The move will increase the number of freely tradable MI6 securities on the market, potentially enhancin...
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 $...
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.