Allup Silica Ltd. (AU:MML)
ASX:MML
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Allup Silica Ltd.
(Sydney:MML)
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Select Model
Rating:40Underperform
Price Target:
AU$0.02
▼(-5.00% Downside)
Action:DowngradedDate:01/30/26
The score is primarily constrained by very weak financial performance (near-zero revenue, large losses, and continued cash burn), with low leverage offering only partial offset. Technicals are also soft (below key moving averages with negative MACD). Valuation does not provide support because earnings are negative and no dividend yield is available.
Positive Factors
Low leverage / No debt
A debt-free capital structure materially reduces solvency risk and preserves financial flexibility over the medium term. With no scheduled debt service, management has more options to prioritize restructuring, capital allocation, or raising incremental equity without immediate default pressures.
Negative Factors
Minimal revenue vs large losses
Revenue at virtually zero while incurring multi-million-dollar losses indicates the current cost structure is fundamentally misaligned with the business scale. Persistently negative margins erode returns and make it difficult to sustainably fund operations without material structural change.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / No debt
A debt-free capital structure materially reduces solvency risk and preserves financial flexibility over the medium term. With no scheduled debt service, management has more options to prioritize restructuring, capital allocation, or raising incremental equity without immediate default pressures.
Read all positive factors
Allup Silica Ltd. (MML) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$8.05M
Dividend YieldN/A
Average Volume (3M)1.08M
Price to Earnings (P/E)―
Beta (1Y)-0.82
Revenue GrowthN/A
EPS GrowthN/A
CountryAU
Employees4,800
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding402,336,150
10 Day Avg. Volume743,821
30 Day Avg. Volume1,084,939
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)0.79
Price to Sales (P/S)290.66
P/FCF Ratio-0.73
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Allup Silica Ltd. Business Overview & Revenue Model
Company Description
McLaren Minerals Limited engages in the exploration and evaluation of mineral resources in Western Australia. It primarily explores for silica sand. The company was formerly known as Allup Silica Limited and changed its name to McLaren Minerals Li...
How the Company Makes Money
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Allup Silica Ltd. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
55
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.95K | 7.95K | 2.16K | 0.00 | 0.00 | 179.04M |
| Gross Profit | 4.80K | 7.95K | 2.16K | -4.82K | -862.00 | 73.92M |
| EBITDA | -1.89M | -2.36M | -1.45M | -1.73M | -754.96K | -180.49K |
| Net Income | -1.94M | -2.37M | -1.42M | -1.65M | -891.14K | 47.26M |
Balance Sheet | ||||||
| Total Assets | 6.38M | 3.12M | 3.10M | 4.46M | 5.81M | 216.53M |
| Cash, Cash Equivalents and Short-Term Investments | 2.89M | 304.78K | 1.18M | 3.18M | 4.91M | 780.45K |
| Total Debt | 0.00 | 0.00 | 123.86K | 160.17K | 0.00 | 3.20M |
| Total Liabilities | 133.02K | 193.90K | 240.78K | 319.74K | 79.64K | 23.46M |
| Stockholders Equity | 6.25M | 2.93M | 2.86M | 4.14M | 5.73M | 193.07M |
Cash Flow | ||||||
| Free Cash Flow | -2.01M | -3.15M | -1.96M | -1.73M | -1.04M | 35.80M |
| Operating Cash Flow | -1.17M | -1.21M | -1.13M | -1.14M | -710.18K | 64.44M |
| Investing Cash Flow | -1.52M | -1.94M | -827.41K | -591.05K | -326.89K | -39.44M |
| Financing Cash Flow | 5.68M | 2.28M | -43.89K | -366.00 | 5.17M | -12.64M |
Allup Silica Ltd. 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% | |
48 Neutral | AU$5.98M | -2.94 | -36.71% | ― | ― | 21.34% | |
45 Neutral | AU$17.32M | -1.52 | -98.65% | ― | ― | 32.08% | |
44 Neutral | AU$27.37M | -1.07 | -47.54% | ― | ― | ― | |
42 Neutral | AU$11.59M | -7.86 | -148.81% | ― | ― | 40.21% | |
40 Underperform | AU$8.05M | -2.02 | -84.40% | ― | ― | ― |
* Basic Materials Sector Average
AU:MML
Allup Silica Ltd.
0.02
-0.02
-48.72%
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Alice Queen Ltd.
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0.00
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Pacific Bauxite Limited
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2.70%
Allup Silica Ltd. Corporate Events
McLaren Maps 54 km Zircon-Rich Mineral Sands Corridor at Barossa
Mar 23, 2026
McLaren Minerals has identified a district-scale, roughly 54 km zircon-rich mineral sands corridor with rare earth element potential at its Barossa Project in South Australia, following a technical review of historical exploration data. The system...
McLaren Minerals Uncovers High-Grade Mineral Sands at Barossa Project
Mar 18, 2026
McLaren Minerals has reported high-grade heavy mineral results from its recently acquired Barossa Project in the eastern Eucla Basin, following an initial review of historical drilling data. The project sits in a proven zircon province near Iluka ...
McLaren Minerals launches 13,000m drilling push at WA titanium project
Mar 17, 2026
McLaren Minerals Limited has begun a 13,000-metre drilling campaign at its McLaren Titanium Project in Western Australia, marking the first formal step of a bankable feasibility study. The program is designed to upgrade large portions of the exist...
McLaren Minerals Advances Flagship Titanium Project and Bolsters Mineral Sands Portfolio
Jan 30, 2026
McLaren Minerals has marked a significant step in advancing its McLaren Titanium Project in Western Australia, completing a Pre-Feasibility Study that confirms the operation as a large-scale, long-life and globally competitive titanium project und...
Capital Raising Dilutes Major Shareholder in McLaren Minerals
Jan 29, 2026
McLaren Minerals Limited has disclosed that investor Andrew Haythorpe, along with associated entities Tesha Pty Ltd as trustee for The Nimrod Trust and Ouro Pty Ltd, has ceased to be a substantial holder in the company as of 20 January 2026. The c...
McLaren Minerals Issues 2.5 Million Unquoted Performance Rights
Jan 21, 2026
McLaren Minerals Limited has notified the market of the issue of 2.5 million unquoted performance rights under the ASX Appendix 3G process, with the securities recorded as issued on 9 December 2025. The creation of these performance rights, which ...
McLaren Minerals Issues New Shares to Support McLaren Project
Jan 21, 2026
McLaren Minerals Limited has issued 4,241,571 fully paid ordinary shares in relation to its McLaren project and has advised that these shares were issued without a prospectus under the Corporations Act’s disclosure exemptions. The company co...
McLaren Minerals Seeks ASX Quotation for Over 4.2 Million New Shares
Jan 21, 2026
McLaren Minerals Limited has applied to the ASX for quotation of 4,241,571 new fully paid ordinary shares, issued in connection with its McLaren project. The additional securities, effective from 20 January 2026, expand the company’s quoted ...
McLaren Minerals Issues 625,000 New Shares on Option Conversion
Jan 15, 2026
McLaren Minerals Limited has issued 625,000 fully paid ordinary shares following the conversion of options, increasing its share capital without providing a prospectus-style disclosure to investors under the Corporations Act. The company confirmed...
McLaren Minerals Seeks ASX Quotation for 625,000 New Shares
Jan 15, 2026
McLaren Minerals Limited has applied to the ASX for quotation of 625,000 new fully paid ordinary shares, to be issued on 15 January 2026. The additional securities, arising from the exercise or conversion of existing instruments, will increase the...
McLaren Minerals’ PFS Flags Robust Economics for Western Australia Titanium Project
Jan 12, 2026
McLaren Minerals has completed a Pre-Feasibility Study for its McLaren Titanium Project in Western Australia, outlining a long-life, large-scale operation based on a Mineral Resource Estimate of 529Mt at 4.5% heavy minerals, including a substantia...
McLaren Minerals Appoints RSM Australia Partners as New Auditor
Jan 8, 2026
McLaren Minerals Limited, an Australian mineral exploration company focused on its high-value titanium project in Western Australia’s Eucla Basin, is positioning itself within the critical minerals sector that underpins aerospace, defence an...
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.
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