MinRex Resources Limited (MRR) AI Stock Analysis

• Market Cap: AU$17.36M
• Dividend Yield: N/A
• Average Volume (3M): 1.81M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.21
• Revenue Growth: N/A
• EPS Growth: 45.00%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 1,084,867,600
• 10 Day Avg. Volume: 2,057,615
• 30 Day Avg. Volume: 1,805,245
• PEG Ratio: 0.08
• Price to Book (P/B): 0.67
• Price to Sales (P/S): 265.42
• P/FCF Ratio: -6.97
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 49 Neutral
• Price Target: AU$0.02 ▲(70.00% Upside)

The score is primarily held back by weak financial performance: ongoing net losses and negative operating/free cash flow outweigh the revenue rebound, despite a low-debt balance sheet. Technicals add modest support from a short-term uptrend, but extremely overbought RSI increases reversal risk. Valuation is constrained by unprofitability (negative P/E) and no dividend support.

Positive Factors

Low Leverage / Balance Sheet Strength

Minimal debt reduces bankruptcy and refinancing risk and gives management flexibility to fund operations or opportunistic investments while losses persist. Over a 2–6 month horizon, low leverage materially lowers financial stress and supports survival while restructuring or growth efforts continue.

Strong Revenue Rebound

A sharp revenue recovery signals improving demand or execution, providing a pathway to scale. If sustained, rising top-line can absorb fixed costs and improve margins. Over months, continued revenue growth is a durable indicator of product-market fit and potential path toward break-even.

Improving Cash Burn Dynamics

Reduced cash burn and close tracking between free cash flow and accounting loss suggest fewer large non-cash distortions and improving operational control. This trend increases the runway and reduces near-term funding pressure, a durable improvement if management sustains cost discipline.

Negative Factors

Sustained Net Losses

Material and persistent net losses erode equity and necessitate external financing or dilution to continue operations. Over a multi-month horizon, ongoing unprofitability constrains strategic options, limits reinvestment in growth initiatives, and increases execution risk until break-even is achieved.

Negative Operating and Free Cash Flow

Consistent negative operating and free cash flow indicate the business consumes cash to run, forcing reliance on external funding. This reduces financial flexibility, raises refinancing and dilution risk, and limits capacity to invest in scaling operations or respond to adverse shocks over the medium term.

Very Small Revenue Base vs Cost Structure

A small revenue base makes margins highly sensitive to costs and demand fluctuations; fixed-cost leverage is weak. Without sustained revenue scaling, the company risks prolonged unprofitability and inability to achieve economies of scale, undermining long-term margin sustainability.

MinRex Resources Limited Business Overview & Revenue Model

Company Description

MinRex Resources Limited engages in the exploration and development of mineral properties. It focuses on the exploration of gold, silver, copper, and other base metal projects in New South Wales (NSW) and Western Australia. The company holds 70% interests in the Marble Bar North, Marble Bar South, Daltons, and Bamboo Creek gold projects in the East Pilbara region of Western Australia; and 100% interests in the Deflector Extended Gold project located at Gullewa in Western Australia. It also holds 7 exploration licenses in Mt Pleasant, Sofala, and Sunny Corner Projects with an area of 514 square kilometers in the Lachlan Fold Belt in NSW; and exploration licenses in lithium and tantalum deposits, as well as holds farm-in rights for 80% interest in EL7974 and EL7423 projects, and 90% interest in the exploration area of EL 5964 project. The company was formerly known as MinRex Resources NL and changed its name to MinRex Resources Limited in January 2016. MinRex Resources Limited was incorporated in 2011 and is based in Perth, Australia.

How the Company Makes Money

MinRex Resources Limited makes money primarily through the exploration and development of mineral resources, specifically targeting gold and base metals. The company generates revenue by discovering economically viable mineral deposits, which can then be developed into profitable mining operations. This may involve selling mineral rights, entering joint ventures, or selling discovered resources to larger mining companies. Strategic partnerships with other mining firms and investors can also provide financial support and revenue opportunities through shared exploration costs and potential project advancements. MinRex Resources' earnings are significantly influenced by mineral market prices, exploration success, and the company's ability to efficiently manage exploration activities.

MinRex Resources Limited Financial Statement Overview

Summary

MinRex Resources Limited faces significant financial challenges with no revenue generation and consistent net losses. While the balance sheet shows a low leverage position, the lack of revenue and negative cash flows suggest difficulties in achieving financial sustainability and growth.

Income Statement

MinRex Resources Limited has shown consistent losses over the years with no revenue generation, leading to negative gross, EBIT, and net profit margins. The company has not demonstrated any revenue growth, highlighting a challenging financial trajectory.

Balance Sheet

The company maintains a low debt-to-equity ratio, implying limited leverage and a strong equity position relative to debt. However, the lack of revenue generation and consistent net losses present potential risks to maintaining financial stability in the long term.

Cash Flow

Negative operating and free cash flows indicate operational challenges and a reliance on external financing. Despite a decrease in free cash outflows, the lack of revenue growth remains a critical concern for cash flow sustainability.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	32.38K	32.38K	6.02K	0.00	0.00	0.00
Gross Profit	32.38K	32.38K	-70.31K	-113.36K	-66.82K	-50.93K
EBITDA	-2.06M	-2.06M	-4.23M	-17.19M	-2.65M	-1.00M
Net Income	-2.36M	-2.36M	-4.30M	-17.31M	-2.72M	-1.06M
Balance Sheet
Total Assets	12.95M	12.95M	14.81M	19.03M	34.60M	12.08M
Cash, Cash Equivalents and Short-Term Investments	499.32K	499.32K	9.94M	11.69M	14.19M	2.45M
Total Debt	0.00	0.00	71.73K	105.03K	129.71K	102.69K
Total Liabilities	192.14K	192.14K	270.44K	532.39K	475.47K	452.62K
Stockholders Equity	12.76M	12.76M	14.53M	18.50M	34.12M	11.63M
Cash Flow
Free Cash Flow	-1.23M	-1.23M	-2.13M	-3.69M	-2.65M	-1.04M
Operating Cash Flow	-1.23M	-1.23M	-1.98M	-3.54M	-2.35M	-664.79K
Investing Cash Flow	-174.42K	-174.42K	-7.94M	-192.45K	-232.13K	-379.12K
Financing Cash Flow	171.50K	171.50K	-37.81K	1.23M	14.32M	2.99M

MinRex Resources Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
MRR	49 Neutral	AU$17.36M	-7.27	-17.32%	―	―	45.00%
BMG	49 Neutral	AU$26.76M	-17.86	-7.48%	―	―	87.39%
CRR	45 Neutral	AU$30.09M	-11.11	-7.30%	―	―	―
CPN	45 Neutral	AU$25.69M	-5.17	-122.97%	―	―	24.25%
CAZ	43 Neutral	AU$18.58M	-2.54	-45.16%	―	―	-563.16%
SRN	37 Underperform	AU$8.05M	―	-26.26%	―	―	78.57%

MinRex Resources Limited Corporate Events

MinRex Plans Major Share Issue to Raise Capital

MinRex Resources Limited has lodged an Appendix 3B with the ASX outlining a proposed placement or other type of securities issue of up to 1,053,676,093 new fully paid ordinary shares. The new securities are expected to be issued on 30 March 2026, signalling a significant prospective capital raising that could strengthen the company’s funding position for ongoing operations and project development, while materially increasing its share base and potentially impacting existing shareholders through dilution.

The most recent analyst rating on (AU:MRR) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on MinRex Resources Limited stock, see the AU:MRR Stock Forecast page.

MinRex and Electrum in A$28m Merger to Form Serbia–Australia Gold-Copper Explorer

MinRex Resources has agreed to merge with TSX-V listed Electrum Discovery Corp. in a roughly A$28 million all-share merger of equals that will create a well-capitalised gold-copper exploration group focused on Serbia and Australia. The combined company, to remain listed as MinRex on the ASX, will hold advanced assets including Electrum’s Tlamino Gold Project in Serbia, which has a significant foreign-classified Inferred gold equivalent resource and a prior economic assessment, and MinRex’s Sofala Gold Project in New South Wales, which hosts substantial Inferred gold resources. With an expected pro-forma market capitalisation of about A$28 million, approximately A$8 million in cash and no debt, the merged group aims to accelerate resource growth drilling and discovery-focused exploration at Tlamino and advance both Serbian copper-gold targets and MinRex’s broader NSW portfolio, supported by a combined board and management team and strong backing from both companies’ directors and major Electrum shareholders.

The most recent analyst rating on (AU:MRR) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on MinRex Resources Limited stock, see the AU:MRR Stock Forecast page.

MinRex Resources Halts Trading Ahead of Material Acquisition Announcement

MinRex Resources Limited has requested and been granted a trading halt on its securities on the ASX, effective from 5 January 2026, while it prepares to release details of a material acquisition. The halt will remain in place until either the announcement regarding the transaction is released or normal trading resumes on 7 January 2026, signalling that MinRex is considering a potentially significant deal that could affect its strategic direction and valuation, and prompting investors to watch for a near-term update on the company’s growth plans.

The most recent analyst rating on (AU:MRR) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on MinRex Resources Limited stock, see the AU:MRR Stock Forecast page.

MinRex Resources Announces Expiry of 10 Million Options

MinRex Resources Limited announced the cessation of 10 million options that expired on December 2, 2025, without being exercised or converted. This announcement may impact the company’s financial position by reducing potential future capital inflow from these options, which could affect stakeholder expectations and market perception.

MinRex Resources Passes Key Resolutions at Annual General Meeting

MinRex Resources Limited announced the results of its Annual General Meeting held on November 28, 2025, where all three resolutions were passed by a poll. The resolutions included the adoption of the remuneration report, the re-election of director Glenn Whiddon, and the approval of a 10% placement capacity. These outcomes reflect shareholder support for the company’s strategic decisions and governance, potentially strengthening its position in the gold and base metals exploration industry.

MinRex Resources Unveils Promising Rare Earth Discoveries at Fraser Range

MinRex Resources Limited announced the results of its maiden Reverse Circulation drilling program at the Fraser Range Project in Western Australia. The drilling, aimed at testing high-priority targets for copper and gold, did not find significant mineralization in these metals but revealed encouraging results for Rare Earth Elements, Titanium Dioxide, and Scandium. This discovery could impact the company’s future exploration strategies and enhance its portfolio, as it continues to assess data and consider further drilling. The company is well-funded with $8.7 million in cash and is exploring additional project opportunities both domestically and internationally.

MinRex Resources Limited Announces 2025 AGM and Modernizes Shareholder Communication

MinRex Resources Limited has announced its Annual General Meeting (AGM) scheduled for November 28, 2025, at its West Perth office. The company has opted to provide the Notice of AGM electronically, encouraging shareholders to access it via the company’s website or through email notifications, aligning with modern communication practices. Shareholders are encouraged to participate in the voting process online or by proxy, with all resolutions to be decided via a poll. This approach reflects MinRex’s commitment to efficient shareholder engagement and streamlined operations.

MinRex Resources Schedules Annual General Meeting for November 2025

MinRex Resources Limited has announced its annual general meeting scheduled for November 28, 2025, in West Perth, Australia. The meeting will address key financial reports and the adoption of the Remuneration Report, which is advisory and non-binding. This meeting is significant for shareholders as it provides insights into the company’s financial health and strategic direction, impacting future operations and stakeholder interests.