Patagonia Lithium Limited (AU:PL3)
ASX:PL3
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Patagonia Lithium Limited
(Sydney:PL3)
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Rating:51Neutral
Price Target:
AU$0.18
â–²(193.33% Upside)
Action:ReiteratedDate:04/10/26
The score is held down primarily by weak financial performance (persistent losses and cash burn), partially offset by a stronger balance sheet with no reported debt. Technicals are moderately positive with price above key moving averages and a positive MACD, while valuation is constrained by negative earnings and no dividend yield.
Positive Factors
Balance Sheet Strength
The material rise in equity and elimination of reported debt materially reduces leverage risk and improves solvency over the medium term. A stronger capital base enhances the company's ability to fund exploration and engage partners, supporting project advancement without immediate refinancing risk.
Negative Factors
Persistent Cash Burn
Consistent negative operating cash flow over multiple years signals ongoing cash consumption to support exploration and operations. This creates structural dependence on external capital, risking dilution or delays to project timelines if funding conditions tighten, and constrains strategic flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
The material rise in equity and elimination of reported debt materially reduces leverage risk and improves solvency over the medium term. A stronger capital base enhances the company's ability to fund exploration and engage partners, supporting project advancement without immediate refinancing risk.
Read all positive factors
Patagonia Lithium Limited (PL3) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$36.24M
Dividend YieldN/A
Average Volume (3M)129.63K
Price to Earnings (P/E)―
Beta (1Y)-0.26
Revenue GrowthN/A
EPS GrowthN/A
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding207,065,540
10 Day Avg. Volume218,650
30 Day Avg. Volume129,631
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)0.00
Price to Sales (P/S)0.00
P/FCF Ratio0.00
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
Patagonia Lithium Limited Business Overview & Revenue Model
Company Description
Patagonia Lithium Limited engages in the exploration and development of mineral properties in Argentina. It explores for lithium, borates, and other metals. The company was incorporated in 2021 and is based in Melbourne, Australia. Patagonia Lithi...
How the Company Makes Money
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Patagonia Lithium Limited Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
24
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 0.00 | 0.00 | 130.11K | 0.00 |
| Gross Profit | -14.83K | 0.00 | 130.11K | -140.10K |
| EBITDA | -1.07M | -360.94K | -1.10M | -1.21M |
| Net Income | -1.44M | -414.29K | -1.11M | -1.47M |
Balance Sheet | ||||
| Total Assets | 12.83M | 10.98M | 7.33M | 4.94M |
| Cash, Cash Equivalents and Short-Term Investments | 1.50M | 57.55K | 2.65M | 684.48K |
| Total Debt | 0.00 | 867.21K | 119.29K | 1.61M |
| Total Liabilities | 187.38K | 2.57M | 214.58K | 2.52M |
| Stockholders Equity | 12.64M | 8.41M | 7.12M | 2.42M |
Cash Flow | ||||
| Free Cash Flow | -1.64M | -965.15K | -1.84M | -4.54M |
| Operating Cash Flow | -1.57M | -965.15K | -1.04M | -279.86K |
| Investing Cash Flow | -2.26M | -3.79M | -796.55K | -4.26M |
| Financing Cash Flow | 5.27M | 2.16M | 3.57M | 5.23M |
Patagonia Lithium 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% | |
51 Neutral | AU$36.24M | -3.45 | -11.31% | ― | ― | ― | |
45 Neutral | AU$6.80M | -32.58 | -27.10% | ― | ― | 76.12% | |
44 Neutral | AU$28.66M | -6.37 | -24.52% | ― | ― | 26.67% | |
44 Neutral | AU$13.87M | -8.00 | -23.61% | ― | ― | -4.35% | |
44 Neutral | AU$12.35M | -4.17 | 110.58% | ― | ― | 93.44% | |
40 Underperform | AU$6.23M | -4.44 | -247.28% | ― | ― | -405.06% |
* Basic Materials Sector Average
AU:PL3
Patagonia Lithium Limited
0.18
0.11
153.62%
AU:LML
Lincoln Minerals Limited
0.01
0.00
0.00%
AU:EVG
BlackEarth Minerals NL
0.02
<0.01
20.00%
AU:EMT
eMetals Limited
0.01
<0.01
10.00%
AU:INF
Infinity Lithium Corporation Limited
0.01
>-0.01
-35.00%
AU:RWD
Reward Minerals Limited
0.05
-0.02
-26.23%
Patagonia Lithium Limited Corporate Events
Patagonia Lithium Hits Strong Porosity and Yield at Formentera Well
Apr 8, 2026
Patagonia Lithium reported new borehole magnetic resonance and gamma survey results from well six at its Formentera lithium brine project in Argentina, confirming high total porosity averaging 22% and specific yield averaging 8% across a 462-metre...
Patagonia Lithium Reports Strong Porosity and Brine Flow Results at Formentera Well
Apr 6, 2026
Patagonia Lithium reported strong core analysis and relative brine release results from well JAM 25-05 at its Formentera lithium project, with effective, total and specific yield porosity values between 17% and 28.7%, above the local regional aver...
Patagonia Lithium Pump Test Backs Formentera Brine Production Plans
Apr 1, 2026
Patagonia Lithium reported strong results from a 72-hour pump test at its JAM26-06 well on the Formentera project in Argentina, with 225,325 litres of brine pumped at an average rate of 3,206 litres per hour through a 19mm hose. The company said b...
Patagonia Lithium lodges governance statement and sets 2026 AGM date
Mar 30, 2026
Patagonia Lithium Ltd has lodged its Appendix 4G and 2025 Corporate Governance Statement with the ASX, confirming its governance disclosures for the year ended 31 December 2025 are available on its website and have been approved by the board. The ...
Patagonia Lithium Highlights Governance Focus in 2025 Annual Report
Mar 30, 2026
Patagonia Lithium Ltd is an Australian lithium-focused company operating from Moorabbin, Victoria, with a board led by Executive Chairman Phillip Thomas, supported by non-executive directors and an independent auditor. It is active in the lithium ...
Patagonia Lithium Highlights Resource Base and Eyes REE Exploration in Brazil
Mar 25, 2026
Patagonia Lithium has released a broker presentation highlighting a mineral resource estimate of 103,500 tonnes of lithium metal, equivalent to 551,400 tonnes of lithium carbonate, supported by JORC-compliant data last updated in mid-2025. The com...
Patagonia Lithium Grants 5.45 Million Unquoted Options Under Incentive Scheme
Mar 24, 2026
Patagonia Lithium Ltd has issued 5,450,000 unquoted options with an exercise price of $0.15 and an expiry date of March 31, 2028, under its employee incentive scheme. The move is designed to align staff interests with long-term shareholder value a...
Patagonia Lithium Reports Strong Formentera Well Assays and Ramps Up Field Work
Mar 23, 2026
Patagonia Lithium has reported assay results from its Formentera concession’s JAM 26-06 well, with a peak lithium grade of 412ppm at 405–416 metres, above the project’s current average of 296ppm. Ten brine samples were analysed b...
Patagonia Lithium Reaffirms 551,000-Tonne LCE Resource in Broker Update
Feb 22, 2026
Patagonia Lithium has presented a broker update highlighting its current mineral resource estimate of 103,500 tonnes of lithium metal, equivalent to 551,000 tonnes of lithium carbonate equivalent. The company also noted completion of well JAM26-06...
Patagonia Lithium Issues 13.98 Million Unquoted Options to Support Growth Plans
Feb 11, 2026
Patagonia Lithium Ltd has issued 13,975,000 unquoted options with an exercise price of $0.16 and an expiry date of 31 December 2027. The new options, which are not intended to be quoted on the ASX, form part of a previously announced transaction s...
Patagonia Lithium Issues 27.95m Shares in Compliant Placement
Feb 11, 2026
Patagonia Lithium Ltd has issued 27.95 million new shares via a placement, expanding its capital base while maintaining compliance with Australian corporate disclosure requirements. The company confirmed the shares were issued without a prospectus...
Patagonia Lithium Seeks ASX Quotation for 27.95 Million New Shares
Feb 11, 2026
Patagonia Lithium has applied to the ASX for quotation of 27,950,000 ordinary fully paid shares, scheduled for issue on 11 February 2026. The move increases the number of tradable securities on market and is part of previously flagged transactions...
Patagonia Lithium Hits Highly Porous Brine Zones in Formentera Well
Feb 9, 2026
Patagonia Lithium has completed drilling Well JAM 26-06 at its Formentera concession to a depth of 488 metres, intersecting bedrock and more than 180 metres of highly porous sandy and silt units. These intervals, especially between 80-200 metres a...
Patagonia Lithium’s Formentera Well Shows Strengthening Brine Indicators
Feb 4, 2026
The company reports continued drilling progress at the Formentera concession’s Well 6, now at 308 metres, where porous sand units, rising brine densities, and successful packer tests indicate promising lithium-bearing horizons ahead of deepe...
Patagonia Lithium Plans New Share and Option Issue to Boost Funding
Feb 4, 2026
Patagonia Lithium Ltd has announced a proposed placement and related issue of new securities, including 29 million ordinary fully paid shares and a total of 19.5 million unquoted options with an exercise price of $0.16 and expiry on 31 December 20...
Patagonia Lithium Raises A$2.9m to Accelerate Formentera Lithium Project
Feb 4, 2026
Patagonia Lithium has secured firm commitments for a A$2.9 million private placement, issuing up to 29 million new shares at A$0.10 each plus one unquoted option for every two shares, to fund the next phase of work on its flagship Formentera lithi...
Patagonia Lithium Halts Trading Ahead of Capital Raising
Feb 1, 2026
Patagonia Lithium Ltd has requested and been granted a trading halt on its securities on the ASX as it prepares to undertake a capital raising. Trading in PL3 shares will be suspended until either the company releases its capital-raising announcem...
Patagonia Lithium Reports Encouraging Early Brine Results From Formentera Well
Jan 18, 2026
Patagonia Lithium has provided an update on drilling activities at its Formentera concession, where Well JAM 26-06 has reached a depth of 131 metres and intersected highly porous sandy and volcanic units that are considered prospective for lithium...
Patagonia Lithium Ends Formentera Well Early After Low-Porosity Clays, Reports 219 ppm Lithium at Shallower Depth
Jan 14, 2026
Patagonia Lithium has completed drilling of well JAM 25-05 at its Formentera concession to a depth of 401 metres, stopping short of the planned 600 metres after encountering compacted, low-porosity clay formations between 250 and 400 metres that y...
Patagonia Lithium Reaffirms 551,000-Tonne LCE Mineral Resource Estimate
Jan 12, 2026
Patagonia Lithium Limited has released a broker presentation confirming a current Mineral Resource Estimate of 103,500 tonnes of lithium metal, equivalent to 551,000 tonnes of lithium carbonate equivalent (LCE), for its lithium brine project. The ...
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