Oakajee Corporation Ltd (OKJ) AI Stock Analysis

• Market Cap: AU$7.59M
• Dividend Yield: N/A
• Average Volume (3M): 26.09K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.40
• Revenue Growth: N/A
• EPS Growth: 21.62%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 91,446,030
• 10 Day Avg. Volume: 20,221
• 30 Day Avg. Volume: 26,094
• PEG Ratio: 0.16
• Price to Book (P/B): 1.35
• Price to Sales (P/S): 113.81
• P/FCF Ratio: -3.61
• 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: 46 Neutral
• Price Target: AU$0.08 ▲(15.71% Upside)

The score is held down primarily by persistent losses and ongoing cash burn, despite a debt-free balance sheet. Technicals are supportive with price above major moving averages, but extremely overbought RSI/Stoch signals raise near-term pullback risk. Valuation is not supportive because the negative P/E is driven by unprofitability and no dividend yield is provided.

Positive Factors

Debt-free balance sheet

Zero reported debt materially reduces solvency risk and gives management flexibility to pursue project development or weather cash shortfalls without immediate refinancing. This structural strength improves optionality for long-term capital raises or staged project funding.

High reported gross margins

Sustained high gross margins indicate attractive underlying unit economics for the company’s infrastructure-related activities. If revenue stabilises and fixed operating costs are reduced, margin leverage could translate into durable profitability over the medium term.

Strategic project rights (Oakajee Port & Rail)

Ownership of project rights and approvals for a major port/rail infrastructure scheme is a structural asset: high barriers to entry, long lead times and regulatory approvals create durable competitive advantage if the project is progressed and commercialised for regional mining exporters.

Negative Factors

Persistent losses and cash burn

Consistent negative operating and free cash flow shows the business is consuming cash rather than generating it, eroding runway and forcing reliance on external funding. Over months, this undermines the company’s ability to fund development, capitalise projects, or absorb shocks without dilution.

Revenue volatility and FY2025 decline

A sharp, recent revenue decline highlights unstable demand or execution issues; volatile top-line undermines the ability to cover fixed costs and realise high gross margins. This increases execution risk for long-dated infrastructure plans and complicates multi-stage project financing.

Eroding equity and negative ROE

Ongoing losses that reduce shareholders' equity and produce persistently negative ROE weaken the capital base and reduce financial resilience. Over the medium term this raises the probability of dilutive capital raises and limits the firm’s ability to self-fund large infrastructure investments.

Oakajee Corporation Ltd Business Overview & Revenue Model

Company Description

Oakajee Corporation Limited engages in the exploration and development of mineral properties in Australia. It holds interests in the Paynes Find gold project that covers an area of 112 km2 located in Western Australia; and the Birrindudu nickel project covering an area of 1,116km2 located in the Northern Territory. The company was formerly known as Australian Stone Creations Limited and changed its name to Oakajee Corporation Limited in January 2008. Oakajee Corporation Limited was incorporated in 2006 and is based in Nedlands, Australia.

How the Company Makes Money

Oakajee Corporation Ltd generates revenue primarily through the exploration and potential development of mineral resources. The company invests in identifying lucrative mining opportunities and may enter into joint ventures or partnerships to share risks and capital investment. Revenue can be earned from the sale of extracted minerals, or through the sale or leasing of exploration rights to other mining companies. Additionally, Oakajee may seek funding through equity issuance or other financial instruments to support its exploration activities. The company's earnings are significantly influenced by global commodity prices, demand for precious metals, and successful identification of commercially viable mineral deposits.

Oakajee Corporation Ltd Financial Statement Overview

Summary

Income statement and cash flow quality are very weak: recurring losses, sharply lower FY2025 revenue (-37.4% YoY), and consistently negative operating/free cash flow. The key offset is a debt-free balance sheet, but equity erosion and persistently negative returns indicate the business is not yet financially sustainable.

Income Statement

Profitability remains very weak: the company has reported losses every year, with EBIT and net profit margins deeply negative in each period. Revenue is volatile—after growth in FY2023 and FY2024, FY2025 revenue fell sharply (-37.4% YoY), while losses stayed large (FY2025 net loss of ~529k). A positive is that reported gross margin is very high in recent years, but it has not translated into operating profitability, suggesting a cost structure that is currently too heavy relative to the revenue base.

Balance Sheet

Balance sheet leverage is conservative with zero total debt and a 0.0 debt-to-equity ratio across all years, which reduces solvency risk. However, equity has trended down meaningfully since FY2022, reflecting ongoing losses, and returns on equity are consistently negative (ranging roughly from -15% to -49%). Overall, the balance sheet is clean from a debt perspective, but continued losses are steadily eroding the capital base.

Cash Flow

Cash generation is consistently negative: operating cash flow and free cash flow are below zero in every year shown, indicating the business is consuming cash rather than producing it. While FY2025 free cash flow improved versus FY2024 (positive growth rate), it still remained meaningfully negative (~-504k). Free cash flow roughly matches net losses in most years (free cash flow to net income near ~1x), which signals limited non-cash addbacks and reinforces that losses are translating into real cash burn.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	16.02K	16.02K	37.79K	28.45K	1.62K	3.98K
Gross Profit	16.02K	16.02K	37.79K	12.29K	-10.06K	2.88K
EBITDA	-512.77K	-513.18K	-597.00K	-481.44K	-523.37K	-538.73K
Net Income	-528.52K	-528.69K	-675.00K	-498.00K	-535.06K	-539.83K
Balance Sheet
Total Assets	1.52M	1.52M	1.56M	2.45M	3.28M	3.59M
Cash, Cash Equivalents and Short-Term Investments	178.22K	178.22K	682.54K	1.47M	1.35M	1.64M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	172.28K	172.28K	164.61K	496.24K	165.70K	128.44K
Stockholders Equity	1.35M	1.35M	1.39M	1.95M	3.11M	3.46M
Cash Flow
Free Cash Flow	-504.31K	-504.31K	-611.00K	-471.45K	-548.02K	-500.38K
Operating Cash Flow	-503.04K	-503.04K	-611.00K	-471.45K	-487.52K	-499.74K
Investing Cash Flow	-1.27K	-1.27K	-172.78K	585.08K	196.59K	-268.02K
Financing Cash Flow	0.00	0.00	0.00	0.00	0.00	0.00

Oakajee Corporation Ltd 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%
MRD	49 Neutral	AU$43.73M	-11.00	-106.64%	―	―	-36.36%
RIE	48 Neutral	AU$8.99M	-0.73	-190.23%	―	―	47.88%
OKJ	46 Neutral	AU$7.59M	-14.31	-38.56%	―	―	21.62%
KLR	45 Neutral	AU$23.58M	-51.61	―	―	―	―
SLZ	43 Neutral	AU$8.78M	-0.63	-78.12%	―	―	-349.06%

Oakajee Corporation Ltd Corporate Events

Oakajee Identifies New Gold-Mineralised Shear Zone at Paynes Find

Oakajee Corporation reported that during the December 2025 quarter it continued regional exploration at its Paynes Find Gold Project in Western Australia, completing an aircore drilling program of 28 holes at the Paynes Find South target. The drilling has delineated a new gold-mineralised shear zone along an interpreted mafic–felsic contact concealed beneath shallow cover, with assay results received after quarter end indicating that mineralisation remains open to the west, north and south, necessitating further drilling to better define the size and potential of the target, which may enhance the project’s exploration upside and strategic value for stakeholders.

The most recent analyst rating on (AU:OKJ) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on Oakajee Corporation Ltd stock, see the AU:OKJ Stock Forecast page.

Oakajee Identifies New 2km Gold Mineralised Zone at Paynes Find

Oakajee Corporation has reported assay results from an October 2025 aircore drilling program at its Paynes Find Gold Project in Western Australia, where 28 drill holes were completed to follow up earlier anomalous gold intersections. The results have outlined a new gold-mineralised shear zone on the western side of the drilled area, associated with sheared mafic rocks along a concealed mafic–felsic contact beneath about 20 metres of cover, and assay values indicate a mineralised zone with a potential strike length of around 2 kilometres that remains open to the west, north and south. The company plans further drilling to better define the size and continuity of this new target, which could materially enhance the project’s scale and exploration upside if subsequent work confirms the extent of the mineralisation.

The most recent analyst rating on (AU:OKJ) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on Oakajee Corporation Ltd stock, see the AU:OKJ Stock Forecast page.

Oakajee Corporation AGM: Key Resolutions Passed

Oakajee Corporation Limited recently held its Annual General Meeting, where several key resolutions were passed. These included the adoption of the remuneration report, the re-election of Mr. Garry Thomas as a director, the approval of proportional takeover provisions, and the approval of a 10% placement facility. The results indicate strong support for the company’s strategic decisions, potentially enhancing its governance and financial flexibility.