Pearl Gull Iron Ltd (PLG) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: N/A
• Average Volume (3M): 157.68K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.41
• Revenue Growth: N/A
• EPS Growth: 57.63%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Steel
• EPS (TTM): <0.01
• Shares Outstanding: 204,541,800
• 10 Day Avg. Volume: 150,238
• 30 Day Avg. Volume: 157,681
• PEG Ratio: 0.04
• Price to Book (P/B): 0.61
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -1.49
• 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: 50 Neutral
• Price Target: AU$0.03 ▲(50.00% Upside)

The score is held down primarily by very weak financial performance (minimal/zero revenue, persistent losses, and continued cash burn). Technicals provide partial support due to a strong trend above key moving averages, but extremely overbought momentum raises near-term risk. Valuation is also a concern given negative earnings (negative P/E) and no dividend yield data.

Positive Factors

Debt-Free Balance Sheet

A debt-free balance sheet enhances financial stability and flexibility, allowing the company to invest in growth opportunities without the burden of interest payments.

Strategic Asset Sale

The asset sale provides immediate cash inflow and aligns with the strategy to explore new projects, potentially improving long-term operational focus and financial health.

Stakeholder Confidence

Passing all AGM resolutions reflects strong stakeholder confidence, which can support strategic initiatives and enhance the company's market position.

Negative Factors

Minimal Revenue

The lack of revenue generation undermines financial sustainability and limits the company's ability to invest in growth and innovation.

Persistent Losses

Ongoing losses erode shareholder value and can lead to financial distress if not addressed, limiting long-term viability.

Cash Burn

Continued cash burn indicates reliance on external funding, which may not be sustainable, threatening future operational stability.

Pearl Gull Iron Ltd Business Overview & Revenue Model

Company Description

Pearl Gull Iron Limited, a mineral exploration company, focuses on exploration and development of iron ore properties. The company holds 100% interests in the M04/235 mining lease; and two miscellaneous licenses L04/102 and L04/103 located at Cockatoo Island, Western Australia. The company was incorporated in 2017 and is based in Subiaco, Australia.

How the Company Makes Money

Pearl Gull Iron Ltd makes money by extracting and selling iron ore from its mining operations. The company's revenue model is centered around the sale of iron ore to domestic and international markets. Key revenue streams include direct sales contracts with steel manufacturers and other industrial clients who require iron ore for their production processes. Additionally, the company may engage in partnerships or joint ventures with other mining entities to optimize extraction and distribution processes, leveraging shared resources and infrastructure to enhance profitability. However, specific details about such partnerships or additional factors contributing to earnings are currently unavailable.

Pearl Gull Iron Ltd Financial Statement Overview

Summary

Financial performance is weak: operating revenue is effectively zero in most years (including 2025), with recurring net losses and negative operating/free cash flow. Positives include no reported debt (2022–2025) and positive, rising equity in 2025, but ongoing losses and cash burn remain the dominant risk.

Income Statement

The company has effectively no operating revenue in most years (including 0 in 2025 and 2023–2022), with revenue collapsing from 32k in 2024 to 0 in 2025 (-100% growth). Profitability is consistently weak with recurring operating losses and net losses every year (net loss of ~0.5m in 2025 after ~1.2m in 2024, with a much larger loss in 2022 of ~5.0m). While the scale of losses has improved versus 2022–2024, the lack of a stable revenue base and persistent negative earnings keep the income statement quality very low.

Balance Sheet

Balance sheet risk looks moderate-to-improving primarily because reported debt is 0 from 2022 through 2025 and equity is positive and rising in 2025 (~2.0m), after being negative in 2020–2021. Total assets are relatively stable around ~10–11m in recent years. The key weakness is ongoing losses driving poor returns on equity (negative in 2022–2025), which can pressure equity over time even with low leverage.

Cash Flow

Cash generation is consistently negative: operating cash flow and free cash flow are both negative each year (about -0.8m in 2025 and -0.9m in 2024, with a much larger burn in 2022 of about -4.9m). Cash burn has moderated versus the 2022 trough, but free cash flow growth is volatile and remains negative in absolute terms, indicating continued reliance on funding rather than self-financing operations.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	32.00K	0.00	0.00	0.00
Gross Profit	-155.73K	-289.16K	-282.00K	-250.00K	-19.00K	-67.93K
EBITDA	-669.51K	-669.51K	-918.00K	-894.00K	-4.87M	-1.72M
Net Income	-514.33K	-514.33K	-1.20M	-1.14M	-5.02M	-2.43M
Balance Sheet
Total Assets	9.95M	9.95M	10.17M	11.19M	10.16M	15.35M
Cash, Cash Equivalents and Short-Term Investments	61.37K	61.37K	899.00K	1.83M	911.00K	2.16M
Total Debt	0.00	0.00	0.00	0.00	0.00	6.98M
Total Liabilities	7.93M	7.93M	7.63M	7.42M	7.15M	18.59M
Stockholders Equity	2.02M	2.02M	2.53M	3.76M	3.01M	-3.24M
Cash Flow
Free Cash Flow	-822.93K	-822.93K	-901.00K	-992.00K	-4.92M	-1.31M
Operating Cash Flow	-822.93K	-822.93K	-901.00K	-992.00K	-4.92M	-1.24M
Investing Cash Flow	0.00	0.00	0.00	16.00K	0.00	-66.28K
Financing Cash Flow	-14.75K	-14.75K	-27.00K	1.89M	3.67M	3.47M

Pearl Gull Iron Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IRD	65 Neutral	AU$19.97M	3.93	3.77%	―	―	―
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
GWR	61 Neutral	AU$38.83M	4.62	19.09%	―	―	―
PLG	50 Neutral	―	-14.00	-22.59%	―	―	57.63%
EQX	28 Underperform	AU$24.97M	-5.88	-32.09%	―	―	-141.04%

Pearl Gull Iron Ltd Corporate Events

Pearl Gull Iron Limited Passes All Resolutions at 2025 AGM

Pearl Gull Iron Limited announced that all resolutions at its 2025 Annual General Meeting were passed, including the adoption of the remuneration report, the re-election of a director, the disposal of the main undertaking, and the approval of a 10% placement facility. This successful meeting outcome is likely to positively impact the company’s operations and strategic positioning, reinforcing stakeholder confidence.

Pearl Gull Iron Ltd to Sell Cockatoo Island Project in Strategic Move

Pearl Gull Iron Limited has entered into a binding agreement to sell its Cockatoo Island Project for A$4.5 million in cash, a 4% equity interest in Crestlink Pty Ltd, and royalties on materials extracted from the project. This transaction, subject to shareholder approval, is expected to complete in Q4 2025 and reflects Pearl Gull’s strategy to identify new projects and growth opportunities, potentially impacting its operations and market positioning.