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Allup Silica Ltd. (AU:MML)
ASX:MML

Allup Silica Ltd. (MML) AI Stock Analysis

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AU:MML

Allup Silica Ltd.

(Sydney:MML)

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Neutral 48 (OpenAI - 5.2)
Rating:48Neutral
Price Target:
AU$0.03
▲(70.00% Upside)
The score is held down primarily by very weak financial performance (minimal revenue, sizable losses, and ongoing cash burn), only partially offset by a low-debt balance sheet. Technicals are comparatively better, with price trading above major moving averages and neutral momentum, but valuation is hindered by loss-making earnings (negative P/E) and no dividend support.
Positive Factors
Low Leverage / No Debt
A no-debt balance sheet materially reduces financial risk and interest burden, giving management flexibility to pursue restructuring, capex or M&A without near-term solvency pressure. This structural strength improves survivability during prolonged revenue weakness and eases future financing options.
Historic Cash-Generation Capability
A prior period of strong operating and free cash flow demonstrates the underlying business model can be cash-generative under better market/operational conditions. That historical capability suggests operational levers exist to restore profitability if volumes or pricing recover, supporting medium-term viability.
Significant Workforce / Operational Capacity
A large employee base implies retained operational capacity, technical know-how and scale that can be redeployed as demand returns. This structural resource can accelerate revenue recovery without the fixed costs of rebuilding capabilities, supporting a faster path back to normalized production and margins.
Negative Factors
Minimal Revenue and Large Losses
Near-zero revenue with substantial recurring losses indicates the current cost base is dramatically out of line with sales, undermining sustainable operations. Persistently negative margins erode competitiveness and require material structural change to restore profitability over the medium term.
Ongoing Cash Burn / Negative Free Cash Flow
Consistent negative OCF and deeply negative FCF show the business is consuming cash and likely reliant on external funding. This pattern threatens long-term viability, increases dilution or refinancing risk, and constrains the company’s ability to invest in growth or respond to market opportunities.
Eroding Equity Base
Material decline in equity reduces the company’s capital buffer against future losses, limiting financial flexibility. A weakened capital base makes it harder to absorb shocks, obtain credit on favorable terms, or fund operational turnarounds without significant external support or dilution.

Allup Silica Ltd. (MML) vs. iShares MSCI Australia ETF (EWA)

Allup Silica Ltd. Business Overview & Revenue Model

Company DescriptionMcLaren 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 Limited in December 2024. The company was incorporated in 2013 and is based in Subiaco, Australia.
How the Company Makes Money

Allup Silica Ltd. Financial Statement Overview

Summary
Income Statement
Balance Sheet
Cash Flow
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue7.95K7.95K2.16K0.000.00179.04M
Gross Profit-17.23K7.95K2.16K-4.82K-862.0073.92M
EBITDA-2.36M-2.36M-1.45M-1.73M-754.96K-180.49K
Net Income-2.37M-2.37M-1.42M-1.65M-891.14K47.26M
Balance Sheet
Total Assets3.12M3.12M3.10M4.46M5.81M216.53M
Cash, Cash Equivalents and Short-Term Investments304.78K304.78K1.18M3.18M4.91M780.45K
Total Debt0.000.00123.86K160.17K0.003.20M
Total Liabilities193.90K193.90K240.78K319.74K79.64K23.46M
Stockholders Equity2.93M2.93M2.86M4.14M5.73M193.07M
Cash Flow
Free Cash Flow-3.15M-3.15M-1.96M-1.73M-1.04M35.80M
Operating Cash Flow-1.21M-1.21M-1.13M-1.14M-710.18K64.44M
Investing Cash Flow-1.94M-1.94M-827.41K-591.05K-326.89K-39.44M
Financing Cash Flow2.40M2.28M-43.89K-366.005.17M-12.64M

Allup Silica 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%
48
Neutral
AU$12.32M-1.79-81.83%
46
Neutral
AU$4.08M-0.64-492.76%72.85%
45
Neutral
AU$4.05M-71.65%
42
Neutral
AU$12.88M-2.38-5925.89%40.21%
42
Neutral
AU$5.19M-2.56-39.25%21.34%
38
Underperform
AU$7.53M-110.65%32.08%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:MML
Allup Silica Ltd.
0.03
<0.01
6.25%
AU:AKN
AuKing Mining Ltd
AU:SHP
South Harz Potash Ltd
0.03
-0.13
-81.71%
AU:EMU
Emu NL
0.04
0.02
69.57%
AU:AQX
Alice Queen Ltd.
AU:WYX
Pacific Bauxite Limited
0.03
<0.01
39.13%

Allup Silica Ltd. Corporate Events

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 and energy technologies. The company has appointed RSM Australia Partners as its new auditor following the resignation of SW Audit, with the appointment to be put to shareholders for confirmation at the 2026 Annual General Meeting, marking a routine but important governance change for the ASX-listed explorer.

The most recent analyst rating on (AU:MML) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Allup Silica Ltd. stock, see the AU:MML Stock Forecast page.

McLaren Minerals Expands Zircon Footprint with Acquisition of Barossa Mineral Sands Project
Dec 19, 2025

McLaren Minerals Limited has acquired the Eucla mineral sands tenements EL6462 and part of EL6461 from Iluka Resources, consolidating the Kalahari, Mojave and Gobi prospects into what it has renamed the Barossa Project in South Australia’s eastern Eucla Basin. The project, located about 90km from Iluka’s Jacinth-Ambrosia mine, hosts three identified mineralised zones with an average heavy mineral grade of 4.6% and a high-value assemblage dominated by ilmenite (60%), zircon (16%) and rutile (2%), underpinned by historical drilling and geophysical work confirming an embayment-style placer system with strong geological continuity. With a modest upfront cash outlay and further payments contingent on development milestones, the deal broadens McLaren’s product offering beyond its existing titanium project and strengthens its exposure to one of Australia’s most productive zircon provinces, while the company continues to progress its flagship McLaren Titanium Project in parallel.

McLaren Minerals Limited Announces New Securities Quotation
Dec 10, 2025

McLaren Minerals Limited has announced a new application for the quotation of securities on the Australian Securities Exchange (ASX). The company is set to quote 99,367,362 options expiring on February 5, 2028, as part of its strategic financial maneuvers. This move could potentially enhance the company’s market presence and provide stakeholders with more investment opportunities.

Director’s Interest Change at McLaren Minerals Limited
Dec 10, 2025

McLaren Minerals Limited has announced a change in the interest of its director, Michael Arnett, in the company’s securities. The change involves an increase in the number of fully paid ordinary shares and options held by Mr. Arnett through an acceptance under an entitlement offering. This adjustment in holdings reflects a strategic move by the director, potentially impacting the company’s governance and shareholder dynamics.

McLaren Minerals Director’s Interest Update
Dec 10, 2025

McLaren Minerals Limited has announced a change in the director’s interest, specifically for Simon Finnis, involving an increase in performance rights, ordinary shares, and options. This change, approved during the 2025 AGM, reflects the director’s increased stake and participation in the company’s entitlement offering, potentially impacting the company’s governance and shareholder dynamics.

McLaren Minerals Limited Announces Issuance of New Equity Securities
Dec 10, 2025

McLaren Minerals Limited has announced the issuance of new unquoted equity securities. The company will issue 99,367,372 options with an exercise price of $0.0224, expiring on March 12, 2027. This issuance could potentially impact the company’s capital structure and provide additional funding opportunities, which may influence its market positioning and operational strategies.

McLaren Minerals Limited Announces New Securities Quotation
Dec 10, 2025

McLaren Minerals Limited has announced a new application for the quotation of securities on the ASX, specifically options expiring on February 5, 2028. This move involves the quotation of 99,367,422 securities, which could potentially enhance the company’s market liquidity and provide additional capital for future growth opportunities.

McLaren Minerals Limited Announces New ASX Securities Quotation
Dec 10, 2025

McLaren Minerals Limited has announced a new application for the quotation of its securities on the Australian Securities Exchange (ASX). The company is set to quote 198,734,794 ordinary fully paid securities, which will be issued on December 10, 2025. This move is likely to enhance McLaren Minerals’ market presence and provide additional liquidity for its shareholders.

McLaren Minerals Secures A$3.6 Million to Advance Titanium Project
Dec 8, 2025

McLaren Minerals Limited successfully raised A$3.6 million through an oversubscribed entitlement offer, which was fully underwritten by Leeuwin Wealth. The funds will be used to advance the McLaren Project, enhancing the company’s financial position and supporting ongoing feasibility studies and exploration efforts. This capital raise positions McLaren Minerals to capitalize on its recent JORC Mineral Resource Estimate upgrade, furthering its strategic development of a significant mineral sands asset in Western Australia.

McLaren Minerals Passes All Resolutions at 2025 AGM
Nov 24, 2025

McLaren Minerals Limited announced that all resolutions were passed at its 2025 Annual General Meeting. The approval of these resolutions, including the election of a director and the issuance of shares, strengthens the company’s governance and operational capabilities, potentially enhancing its market position in the critical minerals sector.

McLaren Minerals Provides Update on Titanium Project
Nov 20, 2025

McLaren Minerals Limited, a company involved in mineral exploration, has released an investor update regarding its McLaren Titanium Project. The presentation is intended to provide information about the company’s activities and is not an offer for securities. The update includes details on metallurgical results and mineral resources, compiled by competent persons in accordance with industry standards. The company emphasizes that the presentation contains forward-looking statements, which are subject to risks and uncertainties.

McLaren Minerals Announces Investor Briefing on Major Resource Upgrade
Nov 18, 2025

McLaren Minerals Limited has announced a live investor briefing webinar to discuss a significant upgrade to its Mineral Resource Estimate at the McLaren Project in Western Australia. This development is expected to have a substantial impact on the company’s operations and industry positioning, as it enhances the project’s value and potential in the critical minerals market. The webinar will feature an update from Managing Director Simon Finnis and an interactive Q&A session, providing an opportunity for stakeholders to engage with the company’s latest advancements.

McLaren Minerals Announces Major Resource Upgrade for Eucla Basin Project
Nov 18, 2025

McLaren Minerals Limited has announced a substantial upgrade to its Mineral Resource Estimate at the McLaren Project, increasing the total resource to 529 million tonnes at 4.5% heavy minerals, marking an 85% increase in tonnage and a 90% rise in contained heavy minerals compared to the 2022 estimate. This upgrade strengthens McLaren’s position as a leading undeveloped titanium-rich mineral sands deposit globally, with the contained ilmenite increasing to approximately 7 million tonnes. The updated resource supports the ongoing Pre-Feasibility Study and provides flexibility for future mine design and development, aligning with the company’s ambition to develop a 10 million tonne per annum mining operation. The company is also conducting an entitlement offer to raise approximately A$3.6 million to fund further exploration and study works, with the aim of progressing towards near-term production.

McLaren Minerals Issues Performance Incentive Rights
Nov 12, 2025

McLaren Minerals Limited has announced the issuance of 7,500,000 performance incentive rights under an employee incentive scheme. These securities are unquoted and subject to transfer restrictions, indicating a strategic move to motivate and retain talent, potentially impacting the company’s operational capabilities and market positioning.

McLaren Minerals Launches $3.6 Million Entitlement Offer
Nov 11, 2025

McLaren Minerals Limited, listed on the ASX under the ticker MML, is conducting a fully underwritten non-renounceable pro rata entitlement offer to raise approximately $3.6 million. The offer is priced at $0.018 per new share, with additional options provided for shareholders. This capital raising initiative is aimed at funding various operational activities such as drilling, exploration, and engineering, as well as general working capital. The offer is available to eligible shareholders in Australia and New Zealand, with a provision for a top-up facility and shortfall offer to sophisticated investors if necessary.

McLaren Minerals Launches $3.6 Million Entitlement Offer
Nov 11, 2025

McLaren Minerals Limited has announced a non-renounceable pro rata entitlement offer to raise approximately $3.6 million by issuing new shares and options to eligible shareholders. The offer is fully underwritten by Leeuwin Wealth Pty Ltd, and any shortfall will be addressed through a top-up facility and shortfall offer, targeting sophisticated investors. This move aims to strengthen the company’s financial position and support its ongoing projects.

McLaren Minerals Updates Securities Expiry Date
Nov 7, 2025

McLaren Minerals Limited has announced an update regarding the proposed issue of securities, specifically amending the expiry date of a short-term option to March 10, 2027. This update reflects the company’s ongoing adjustments to its securities offerings, which may impact its market operations and investor relations.

McLaren Minerals Updates 2025 AGM Notice with New Resolution
Nov 7, 2025

McLaren Minerals Limited has issued an addendum to its 2025 Notice of Annual General Meeting, which will be held virtually on November 24, 2025. The addendum introduces an additional resolution, Resolution 9, and includes amendments to the explanatory memorandum and proxy forms. Shareholders are advised to use the replacement proxy form to ensure their votes are counted for all resolutions, including the newly added Resolution 9.

McLaren Minerals Unveils New Shoreline Discovery at Titanium Project
Nov 3, 2025

McLaren Minerals Limited, operating in the mineral exploration industry, focuses on the development of titanium-bearing sand resources in Western Australia. The company has identified a potential second shoreline with mineralization adjacent to its existing resource, presenting significant opportunities for resource growth at the McLaren Titanium Project. The discovery, based on historical drilling data, suggests the presence of an older shoreline horizon within the sedimentary sequence, which could enhance the geological model and support further mineralization. This finding is expected to guide future resource expansion and project development activities, highlighting McLaren’s potential as a significant player in the heavy mineral sands sector.

McLaren Minerals Launches $3.6 Million Capital Raising Initiative
Nov 3, 2025

McLaren Minerals Limited is issuing a prospectus for a non-renounceable pro-rata offer to eligible shareholders, aiming to raise approximately $3.6 million. The offer includes new shares with free-attaching options and is underwritten by Leeuwin Wealth Pty Ltd. This move is part of their strategic financial initiatives to strengthen their capital base, although the securities are of a speculative nature, indicating potential risks for investors.

McLaren Minerals Releases McLaren Titanium Project Presentation
Nov 3, 2025

McLaren Minerals Limited, a company focused on mineral exploration, has released a presentation regarding its McLaren Titanium Project. The presentation outlines the company’s current activities and provides general information, but it is not an offer for investment. The document includes details about the company’s mineral resources and exploration results, compiled by qualified industry professionals. McLaren Minerals emphasizes that the information is not investment advice and contains forward-looking statements that are subject to change.

McLaren Minerals Limited Announces Proposed Securities Issue
Nov 3, 2025

McLaren Minerals Limited has announced a proposed issue of securities, which includes both short-term and long-term options, as well as ordinary fully paid shares. This move is part of a standard pro rata issue, which is non-renounceable. The issuance is aimed at raising capital, potentially impacting the company’s financial standing and market positioning. The offer is set to close on December 3, 2025, with the issue date on December 10, 2025.

McLaren Minerals Limited Announces Proposed Securities Issue
Nov 3, 2025

McLaren Minerals Limited has announced a proposed issue of securities, specifically 99,367,397 options set to expire on February 5, 2028. This issuance, scheduled for December 10, 2025, is part of a placement or other type of issue, potentially impacting the company’s market operations and investor relations by expanding its securities base.

McLaren Minerals Launches A$3.6 Million Entitlement Offer to Advance Project
Nov 3, 2025

McLaren Minerals Limited, a company listed on the ASX, is conducting a A$3.6 million fully underwritten pro-rata entitlement offer to fund ongoing study and exploration at the McLaren Project. This initiative is aimed at advancing the project towards feasibility and production, with the offer being equitably available to existing eligible shareholders. The offer includes new shares and attaching options, with Leeuwin Wealth and Cumulus Wealth acting as joint lead managers. The offer price is set at a discount to recent trading prices, providing shareholders an opportunity to support the company’s growth.

McLaren Minerals Limited Initiates Trading Halt for Capital Raising
Oct 31, 2025

McLaren Minerals Limited, listed on the ASX under the ticker MML, has requested a trading halt on its securities. This halt is in anticipation of a significant capital raising announcement, which could impact the company’s financial strategy and market positioning. The trading halt will remain in effect until the announcement is made or until normal trading resumes on November 4, 2025.

McLaren Minerals Reports Promising Drilling Results and Successful Capital Raise
Oct 30, 2025

McLaren Minerals Limited has reported significant progress in its McLaren Titanium Project, with Phase 1 drilling results indicating extensive high-grade mineralisation beyond the current Indicated Resource boundary. The company is nearing completion of a Prefeasibility Study, supported by positive metallurgical and marketing studies, suggesting strong demand for its ilmenite concentrate. Additionally, McLaren has successfully raised $1.282 million through an oversubscribed placement to fund ongoing project development and exploration activities, reflecting investor confidence in its strategic direction.

McLaren Minerals Reports Quarterly Cash Flow with Strategic Financing
Oct 30, 2025

McLaren Minerals Limited, a mining exploration entity, reported its quarterly cash flow for the period ending September 30, 2025. The company experienced a net cash outflow from operating activities amounting to $404,000, primarily due to expenses related to staff, directors, consultants, and administration. Additionally, the company invested $378,000 in exploration and evaluation activities. However, McLaren Minerals managed to raise $785,000 through equity securities, resulting in a net cash inflow of $732,000 from financing activities. This financial maneuvering indicates a strategic focus on securing funds to support its exploration initiatives.

McLaren Minerals Limited Announces Change in Substantial Shareholders
Oct 29, 2025

McLaren Minerals Limited has announced that several entities, including Sunset Capital Management Pty Ltd, Celtic Capital Pte Ltd, Cityscape Asset Pty Ltd, and Celtic Capital Pty Ltd, have ceased to be substantial shareholders due to a dilution following a share issue. This change in shareholder status may impact the company’s shareholder structure and influence its future strategic decisions, as these entities no longer hold significant voting power.

McLaren Minerals to Hold Virtual Annual General Meeting
Oct 22, 2025

McLaren Minerals Limited has announced its upcoming Annual General Meeting (AGM) for shareholders, scheduled to be held virtually on November 24, 2025, via Microsoft Teams. The company has opted to distribute the Notice of Meeting and related materials electronically, encouraging shareholders to access these documents through their website or the ASX market announcements page. Shareholders are encouraged to participate in the meeting virtually, where they can vote and engage in real-time discussions. The company emphasizes the importance of lodging proxy forms by the specified deadline to ensure votes are counted, although live voting will also be available during the meeting.

McLaren Minerals Unveils High-Grade Titanium Discoveries
Oct 14, 2025

McLaren Minerals Limited has announced outstanding results from its Phase 1 drilling at the McLaren Titanium Project in Western Australia, revealing high-grade mineralization that expands the project’s exploration and development potential. These results, which include previously unrecognized high-grade horizons, support a significant resource upgrade and highlight the project’s potential as a large-scale, high-value titanium asset, crucial for industries focused on supply security.

McLaren Minerals Limited Announces New Securities Issuance
Oct 13, 2025

McLaren Minerals Limited has announced a new issuance of securities, specifically options expiring on February 5, 2028, with a total of 68,908,890 securities to be quoted. This issuance is part of previously announced transactions and reflects the company’s ongoing efforts to enhance its market presence and provide value to its stakeholders.

McLaren Minerals Limited Reveals Top Holders of Unlisted Options
Oct 10, 2025

McLaren Minerals Limited has released its top holders report for unlisted options at $0.035 expiring on February 5, 2028. The report highlights the top 20 position holders, with Celtic Finance Corp Pty Ltd leading with a 9.09% holding. The total holdings of the top 20 account for 80.07% of the issued capital, indicating a significant concentration of ownership among these stakeholders.

McLaren Minerals Limited Holdings Concentration Report
Oct 10, 2025

McLaren Minerals Limited has announced a holdings range report for its unlisted options, which are set to expire in 2028. The report reveals that the majority of the issued share capital, 99.37%, is held by 57 holders with more than 100,000 units each, while a small fraction, 0.63%, is distributed among five holders with between 10,000 and 100,000 units. This concentration of holdings indicates a strong control by a few stakeholders, which could impact the company’s decision-making and market strategies.

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 10, 2026