tiprankstipranks
Trending News
More News >
Piche Resources Limited (AU:PR2)
ASX:PR2
Australian Market

Piche Resources Limited (PR2) AI Stock Analysis

Compare
1 Followers

Top Page

AU:PR2

Piche Resources Limited

(Sydney:PR2)

Select Model
Select Model
Select Model
Neutral 43 (OpenAI - 5.2)
Rating:43Neutral
Price Target:
AU$0.12
▼(-13.57% Downside)
Action:ReiteratedDate:02/06/26
The score is held down primarily by continued lack of revenue, widening losses, and accelerating cash burn. A debt-free balance sheet with increased equity provides some financial cushion, but technical indicators remain weak and valuation is constrained by negative earnings and no dividend support.
Positive Factors
Debt-free balance sheet
A zero-debt capital structure materially reduces financial risk and fixed interest obligations. For a loss-making company, being debt-free preserves optionality to raise capital on flexible terms and reduces near-term bankruptcy risk, giving management runway to execute strategy.
Equity base materially increased
A sharp increase in equity strengthens the capital base and liquidity cushion, lowering immediate solvency concerns. With ongoing losses, higher equity reduces short-term funding pressure, supports operations without immediate debt, and lessens urgency for dilutive recapitalisation.
Cashflow aligns with reported losses
Free cash flow tracking net loss implies limited non-cash accounting distortions, improving cash forecasting accuracy. This transparency aids planning, clarifies true funding needs, and helps management and investors assess runway and financing timing over coming quarters.
Negative Factors
No revenue for multiple years
Three consecutive years of zero revenue indicates the company has not yet achieved commercial traction or product-market fit. Without top-line growth, there is no path to scalable margins or self-funded investment, making current losses structurally more difficult to reverse.
Accelerating operating cash burn
Rapid deterioration in operating cash flow creates persistent funding needs. Absent revenue, continued negative OCF forces reliance on external capital, raising dilution or financing risk and constraining the firm's ability to invest in commercialization or remedial actions over the medium term.
Negative returns on shareholder capital
Persistently negative returns mean equity is being eroded rather than deployed for value creation. Even with increased equity, failing to generate economic returns signals structural problems in cost base, strategy, or market demand that must be addressed to avoid prolonged value destruction.

Piche Resources Limited (PR2) vs. iShares MSCI Australia ETF (EWA)

Piche Resources Limited Business Overview & Revenue Model

Company DescriptionPiche Resources Limited, a junior exploration company, engages in mining and exploration of mineral resources in Western Australia and Argentina. It explores for gold, uranium, precious and base metals, silver, rare earth elements, and other critical minerals. The company was formerly known as San Martin Mining Pty Ltd. The company was incorporated in 2022 and is headquartered in Perth, Australia.
How the Company Makes Money

Piche Resources Limited Financial Statement Overview

Summary
Financial performance is weak: no revenue over the last three years, materially widening net losses (about -$1.2M in 2023 to -$5.3M in 2025), and a sharply deteriorating operating cash flow (to roughly -$4.8M in 2025). The main offset is a low-risk capital structure with zero debt and higher equity in 2025, but profitability and cash burn dominate the assessment.
Income Statement
8
Very Negative
The company has no reported revenue across the last three annual periods, while losses have widened materially (net loss of about -$1.2M in 2023, -$3.1M in 2024, and -$5.3M in 2025). Gross profit is negative in the last two years, indicating ongoing operating cost pressure without an offsetting revenue base. With profitability trending worse and no top-line traction shown, earnings quality and near-term sustainability appear weak.
Balance Sheet
52
Neutral
The balance sheet shows zero debt in all reported periods, which meaningfully reduces financial risk. Equity increased sharply in 2025 (to ~$4.8M from ~$0.5M in 2024), lifting the capital base relative to total assets (~$5.3M). However, returns on shareholder capital remain deeply negative due to sizeable losses, so while leverage is low, the business is not generating economic returns yet.
Cash Flow
12
Very Negative
Cash flow is under pressure: operating cash flow moved from breakeven in 2023 to roughly -$2.1M in 2024 and -$4.8M in 2025, consistent with an accelerating cash burn profile. Free cash flow is negative each year and deteriorated significantly in 2025, suggesting higher funding needs if spending continues at this pace. A modest positive factor is that free cash flow broadly tracks net loss (i.e., limited non-cash earnings distortions), but overall liquidity momentum is unfavorable.
BreakdownJun 2025Jun 2024Jun 2023
Income Statement
Total Revenue0.000.000.00
Gross Profit-16.38K-7.33K0.00
EBITDA-5.27M-3.06M-1.22M
Net Income-5.29M-3.07M-1.20M
Balance Sheet
Total Assets5.29M2.25M1.05M
Cash, Cash Equivalents and Short-Term Investments5.10M967.53K1.03M
Total Debt0.000.000.00
Total Liabilities512.67K1.75M224.07K
Stockholders Equity4.78M493.54K823.27K
Cash Flow
Free Cash Flow-4.82M-2.18M-1.00M
Operating Cash Flow-4.80M-2.11M0.00
Investing Cash Flow-13.01K-68.60K0.00
Financing Cash Flow9.14M2.06M2.03M

Piche Resources Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
46
Neutral
AU$5.51M-47.79%52.53%
45
Neutral
AU$19.16M-41.94
44
Neutral
AU$2.85M-65.57%-200.00%
43
Neutral
-2.67-200.68%
43
Neutral
AU$8.78M-0.63-78.12%-349.06%
38
Underperform
AU$2.36M-5.00-26.98%4.35%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:PR2
Piche Resources Limited
0.12
0.05
73.91%
AU:AOA
Ausmon Resources Limited
AU:C7A
Aus Tin Mining Limited
AU:KLR
Kaili Resources Limited
0.13
0.09
225.00%
AU:SLZ
Sultan Resources Ltd.
0.02
<0.01
50.00%
AU:PRL
Province Resources Ltd
0.01
-0.03
-73.17%

Piche Resources Limited Corporate Events

Piche Resources Advances Maiden Drilling at Argentine Gold–Silver Project
Jan 29, 2026

Piche Resources has launched a maiden 8,500-metre reverse circulation drilling campaign at its Cerro Chacón gold–silver project in Argentina, completing 1,697 metres across 17 holes in December before a seasonal pause, with work resuming in January 2026 to test a 14-kilometre mineralised corridor and refine priority targets for follow-up drilling. The company reported strong environmental and rehabilitation performance at its Argentine and Australian sites, an oversubscribed A$2 million equity placement completed at a premium, and continued low-level field work at the nearby Sierra Cuadrada uranium project, underscoring a strategic focus on Cerro Chacón as its near-term exploration priority.

The most recent analyst rating on (AU:PR2) stock is a Hold with a A$0.16 price target. To see the full list of analyst forecasts on Piche Resources Limited stock, see the AU:PR2 Stock Forecast page.

Piche Resources Partners with U.S. Utility for Uranium Exploration in Argentina
Dec 9, 2025

Piche Resources Limited has entered into an agreement with a U.S.-based utility to explore and potentially supply uranium oxide from Argentina. This collaboration highlights Piche’s technical expertise and aims to advance towards Bankable Feasibility Studies for uranium production in Chubut Province, opening Argentina as a new player in the global uranium market. The agreement involves the exchange of confidential information to facilitate discussions on long-term procurement, potentially impacting Piche’s operational scope and positioning in the industry.

Piche Resources Launches Initial Drilling at Cerro Chacón Gold Project
Dec 4, 2025

Piche Resources Limited has commenced its maiden Reverse Circulation drilling program at the Cerro Chacón Gold Project in Chubut Province, Argentina. This program, spanning approximately 8,500 meters, aims to explore multiple high-priority targets within a 14 km gold-silver structural corridor, potentially enhancing the company’s positioning in the gold exploration sector.

Piche Resources Advances Cerro Chacon Gold Project in Argentina
Dec 4, 2025

Piche Resources Limited has announced its ongoing efforts to develop the Cerro Chacon Gold Project in Argentina, which is part of their strategy to establish a new gold province. This development is significant for the company as it positions them to enhance their presence in the gold mining industry, potentially impacting their market standing and offering new opportunities for stakeholders.

Piche Resources Announces Director’s Increased Stake
Nov 27, 2025

Piche Resources Limited has announced a change in the director’s interest, specifically regarding Pablo Marcet. The director, through Geo Logic SA, has acquired additional shares and options under a Director Agreement as outlined in the IPO prospectus. This change reflects an increase in Marcet’s indirect interest in the company, potentially signaling confidence in the company’s future prospects. The securities acquired are subject to a two-year escrow period, indicating a long-term commitment to the company’s growth and stability.

Piche Resources Issues Shares and Options for Services
Nov 25, 2025

Piche Resources Limited has announced the issuance of 830,883 fully paid ordinary shares and 705,883 listed options as part payment for investor relation services and broker fees conversion. This move is in compliance with the Corporations Act, and the company has confirmed that there is no excluded information that needs disclosure, ensuring transparency and adherence to regulatory requirements.

Piche Resources Limited Issues Unquoted Equity Securities
Nov 25, 2025

Piche Resources Limited has announced the issuance of unquoted equity securities, including options and ordinary fully paid restricted securities, set to expire in May 2027. This move indicates a strategic financial maneuver to potentially raise capital or incentivize stakeholders, which could impact the company’s market positioning and stakeholder interests.

Piche Resources Limited Announces New Securities Quotation
Nov 25, 2025

Piche Resources Limited has announced the application for quotation of new securities on the Australian Securities Exchange (ASX). The company will be issuing 705,883 ordinary fully paid shares and 705,883 options expiring on May 2, 2027. This move reflects the company’s strategic decision to convert broker fees into shares and options, potentially impacting its financial structure and offering new opportunities for stakeholders.

Piche Resources Completes Share and Options Placement
Nov 11, 2025

Piche Resources Limited has announced the issuance of 11,764,705 fully paid ordinary shares and an equal number of listed options, exercisable at $0.25 by May 2027, as part of a placement completed on November 7, 2025. This strategic move, executed without disclosure to investors under Part 6D.2 of the Corporations Act, aligns with the company’s compliance with relevant legislative provisions and aims to bolster its financial position, potentially impacting its market operations and stakeholder interests positively.

Piche Resources Limited Announces New Securities Quotation on ASX
Nov 11, 2025

Piche Resources Limited has announced the application for the quotation of new securities on the Australian Securities Exchange (ASX). The company is issuing a total of 23,529,410 new securities, including ordinary fully paid shares and options, as part of previously announced transactions. This move is expected to enhance the company’s market presence and provide additional liquidity for its stakeholders.

Piche Resources Limited Successfully Passes All AGM Resolutions
Nov 7, 2025

Piche Resources Limited held its Annual General Meeting where all resolutions were passed by poll, aligning with the ASX Corporate Governance Council Principles. The resolutions included the approval of remuneration reports, re-election of a director, and ratification of various share issues, indicating strong shareholder support for the company’s strategic initiatives.

Piche Resources Limited Resumes Trading on ASX
Nov 7, 2025

Piche Resources Limited has announced that the suspension of trading in its securities will be lifted following a capital raising announcement. This reinstatement to quotation on the ASX is expected to impact the company’s operations by potentially enhancing its financial position and market presence.

Piche Resources Limited Announces New Securities Issue
Nov 7, 2025

Piche Resources Limited has announced a proposed issue of securities, including 11,764,705 ordinary fully paid shares and 11,764,705 options expiring on May 2, 2027. This move is aimed at raising capital through a placement or other type of issue, potentially impacting its market positioning and providing new opportunities for stakeholders.

Piche Resources Secures AUD 2 Million for Argentine Exploration
Nov 7, 2025

Piche Resources Limited has successfully raised AUD 2 million through an oversubscribed placement, issuing approximately 11.76 million new shares at a premium price of AUD 0.17 per share. The funds will be used to advance exploration activities in Argentina and cover general working capital, reflecting strong institutional investor interest from Australia and Europe, which enhances the company’s market positioning.

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.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower 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.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Feb 06, 2026