MinRex Resources Limited (AU:MRR)
ASX:MRR
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MinRex Resources Limited
(Sydney:MRR)
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Rating:48Neutral
Price Target:
AU$0.02
▲(70.00% Upside)
Action:ReiteratedDate:03/20/26
The score is primarily held back by weak financial performance—ongoing losses and continued cash burn—despite a low-debt balance sheet. Technicals are mixed, with an overextended RSI and price below key short-term moving averages. Valuation is also constrained by negative earnings (negative P/E) and no dividend yield.
Positive Factors
Low leverage / strong balance sheet
An essentially debt-free balance sheet materially reduces near-term solvency risk and interest burden, giving management flexibility to fund operations or exploration via equity or internal cash. This structural strength supports durability through continued cash burn and volatile commodity cycles.
Negative Factors
Persistent net losses
Sustained net losses of roughly $2.36M erode equity and limit the company’s ability to reinvest in growth or finance operations internally. Continued negative earnings will necessitate external funding or dilution, constraining long-term strategic options and delaying progress toward sustainable profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
An essentially debt-free balance sheet materially reduces near-term solvency risk and interest burden, giving management flexibility to fund operations or exploration via equity or internal cash. This structural strength supports durability through continued cash burn and volatile commodity cycles.
Read all positive factors
MinRex Resources Limited (MRR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$19.53M
Dividend YieldN/A
Average Volume (3M)1.81M
Price to Earnings (P/E)―
Beta (1Y)1.35
Revenue GrowthN/A
EPS Growth45.00%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding1,084,867,600
10 Day Avg. Volume2,057,615
30 Day Avg. Volume1,805,245
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)0.67
Price to Sales (P/S)265.42
P/FCF Ratio-6.97
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
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% i...
How the Company Makes Money
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MinRex Resources Limited Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
68
Positive
Cash Flow
20
Very Negative
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 32.38K | 6.02K | 0.00 | 0.00 | 0.00 |
| Gross Profit | 32.38K | -70.31K | -113.36K | -66.82K | -50.93K |
| EBITDA | -2.06M | -4.23M | -17.19M | -2.65M | -1.00M |
| Net Income | -2.36M | -4.30M | -17.31M | -2.72M | -1.06M |
Balance Sheet | |||||
| Total Assets | 12.95M | 14.81M | 19.03M | 34.60M | 12.08M |
| Cash, Cash Equivalents and Short-Term Investments | 499.32K | 9.94M | 11.69M | 14.19M | 2.45M |
| Total Debt | 0.00 | 71.73K | 105.03K | 129.71K | 102.69K |
| Total Liabilities | 192.14K | 270.44K | 532.39K | 475.47K | 452.62K |
| Stockholders Equity | 12.76M | 14.53M | 18.50M | 34.12M | 11.63M |
Cash Flow | |||||
| Free Cash Flow | -1.23M | -2.13M | -3.69M | -2.65M | -1.04M |
| Operating Cash Flow | -1.23M | -1.98M | -3.54M | -2.35M | -664.79K |
| Investing Cash Flow | -174.42K | -7.94M | -192.45K | -232.13K | -379.12K |
| Financing Cash Flow | 171.50K | -37.81K | 1.23M | 14.32M | 2.99M |
MinRex Resources 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% | |
48 Neutral | AU$19.53M | -4.79 | -14.34% | ― | ― | 45.00% | |
45 Neutral | AU$25.55M | -2.57 | -4.28% | ― | ― | ― | |
44 Neutral | AU$33.32M | -12.24 | -6.44% | ― | ― | 87.39% | |
43 Neutral | AU$33.91M | -2.08 | -112.37% | ― | ― | 24.25% | |
42 Neutral | AU$4.03M | -1.86 | -58.32% | ― | ― | 78.57% | |
41 Neutral | AU$12.96M | -67.88 | -27.21% | ― | ― | -563.16% |
* Basic Materials Sector Average
AU:MRR
MinRex Resources Limited
0.02
<0.01
63.64%
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MinRex Resources Limited Corporate Events
Electrum Shareholders Back Merger with MinRex Resources
Mar 25, 2026
MinRex Resources Limited announced that securityholders of Canada’s Electrum Discovery Corp. have overwhelmingly approved a proposed merger under a statutory plan of arrangement in British Columbia. Approximately 99.99% of votes cast at Elec...
MinRex details Electrum merger and Balkans gold-copper growth platform
Mar 10, 2026
MinRex Resources has outlined details surrounding its acquisition of Electrum Discovery Corp., which will create a combined, well-capitalised gold and copper exploration platform in the Balkans. The enlarged group will centre on Electrum’s T...
MinRex Advances Electrum Takeover With Circular Dispatch and Compliance Clarifications
Feb 26, 2026
MinRex Resources has confirmed that the management information circular for its proposed acquisition of all issued shares in Electrum Discovery Corp. has been dispatched to Electrum securityholders, with a vote set for 24 March 2026 in Vancouver. ...
MinRex Director Glenn Whiddon Increases Indirect Shareholding
Feb 5, 2026
MinRex Resources director Glenn Whiddon has increased his indirect holding in the company through Getmeoutofhere Pty Ltd , acquiring 4,561,784 fully paid ordinary shares for $75,269.44. Following the transaction, Whiddon’s indirect stake via...
MinRex Moves to Merge With Electrum, Building Serbia–Australia Gold-Copper Platform
Jan 29, 2026
MinRex Resources has advanced a proposed merger with Canadian TSX-V listed Electrum Discovery Corp., a gold and copper exploration company focused on Serbia’s Western Tethyan Belt, culminating after the quarter in a definitive agreement for ...
MinRex Wins ASX Waiver to Issue Shares for Electrum Merger Without Shareholder Vote
Jan 29, 2026
MinRex Resources Limited has secured an ASX waiver from Listing Rule 7.1 to facilitate its planned acquisition of Canadian-listed Electrum Discovery Corp. via a court-approved plan of arrangement under British Columbia corporate law. The waiver al...
MinRex Highlights New Geophysical Targets at Serbian Timok East Ahead of Electrum Merger
Jan 21, 2026
MinRex Resources reported that Electrum Discovery’s second-phase Audio-Magnetotelluric geophysical survey over the western portion of the Timok East Copper-Gold Project in Serbia has identified two high-conductivity zones at depths of roughl...
MinRex Director James Pearse Lifts Indirect Shareholding via On-Market Purchase
Jan 12, 2026
MinRex Resources director James Pearse has increased his indirect shareholding in the company via Lilijam Pty Ltd as trustee for the Lilijam Family Trust, purchasing 838,235 fully paid ordinary shares on market for $14,149.03. Following this on-ma...
MinRex Discloses Director Glenn Whiddon’s Increased Shareholding
Jan 9, 2026
MinRex Resources Limited has reported a change in the securities interests of director Glenn Whiddon, detailing both his direct holdings and indirect interests held through associated entities. The notice shows Whiddon, via these structures, has 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.
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