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QEM Limited (AU:QEM)
ASX:QEM
Australian Market

QEM Limited (QEM) AI Stock Analysis

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AU:QEM

QEM Limited

(Sydney:QEM)

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Neutral 42 (OpenAI - 5.2)
Rating:42Neutral
Price Target:
AU$0.01
▼(-30.00% Downside)
The score is held down primarily by persistent losses and recurring negative free cash flow, alongside bearish technical signals (below major moving averages with negative MACD and very weak RSI). Low balance-sheet leverage is a partial offset, but valuation support is limited given negative earnings and no stated dividend yield.
Positive Factors
Leadership Alignment
Aligning leadership incentives with shareholder interests can enhance operational focus and strategic execution, supporting long-term growth.
Project Advancements
Advancements in the Julia Creek project, including securing environmental approvals, position QEM to benefit from the growing vanadium sector.
Strategic Review
The strategic review aims to optimize project activities, potentially enhancing operational efficiency and market positioning in the vanadium sector.
Negative Factors
Negative Cash Flow
Persistent negative cash flow indicates ongoing reliance on external funding, which could limit financial flexibility and long-term sustainability.
Volatile Revenue
Volatile revenue and zero-revenue periods highlight challenges in achieving stable income streams, impacting long-term financial planning.
Persistent Losses
Consistent operating losses and negative margins suggest the business has yet to establish a scalable and profitable model, affecting long-term viability.

QEM Limited (QEM) vs. iShares MSCI Australia ETF (EWA)

QEM Limited Business Overview & Revenue Model

Company DescriptionQEM Limited engages in the exploration and development of vanadium and oil shale project in Australia. Its flagship project is the Julia Creek oil shale and vanadium project covering an area of 249.6 square kilometers located in the Julia Creek area of North Western Queensland, Australia. The company was formerly known as Queensland Energy & Minerals Pty Ltd and changed its name to QEM Limited in August 2018. QEM Limited was incorporated in 2014 and is headquartered in Surfers Paradise, Australia.
How the Company Makes MoneyQEM Limited makes money through the exploration and potential extraction of vanadium and oil shale from its Julia Creek project. The company aims to generate revenue by developing these resources into commercially viable products that can be sold to industries requiring vanadium for steel and battery production, and oil shale for energy purposes. Key revenue streams include the sale of extracted resources and potential partnerships or joint ventures with other companies in the energy and resources sector to optimize the development and commercialization of its projects. The company's earnings are significantly influenced by the global demand for vanadium and oil shale, market prices, and the successful advancement of its exploration and extraction operations.

QEM Limited Financial Statement Overview

Summary
QEM Limited is facing financial difficulties with declining revenues and persistent losses. The balance sheet is relatively stable with low leverage, but profitability remains a key concern. Cash flow challenges persist, impacting the company's ability to invest in growth. Strategic actions are needed to stabilize operations and improve financial health.
Income Statement
QEM Limited has faced significant challenges in its income statement, with a consistent decline in revenue from 2020 to 2024, hitting zero revenue in 2024. This has led to negative gross and net profit margins, indicating poor profitability. Despite a slight recovery in EBIT and EBITDA margins in 2024, both remain negative, reflecting ongoing operational difficulties.
Balance Sheet
The balance sheet reflects a mixed financial position. The company maintains a low debt-to-equity ratio, suggesting prudent debt management. However, a decrease in equity ratio from 2020 to 2024 signals increasing liabilities relative to assets. The return on equity remains negative, primarily due to the net losses, highlighting profitability concerns.
Cash Flow
QEM Limited's cash flow statements show persistent negative operating and free cash flows, driven by ongoing losses and capital expenditures. While the operating cash flow to net income ratio improved slightly, it remains negative, reflecting cash flow challenges. Despite an improvement in free cash flow growth rate in 2024, overall cash flow performance is weak.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue9.54K263.17K0.00453.40K256.77K339.33K
Gross Profit-189.95K263.17K-237.99K211.49K174.77K272.51K
EBITDA-3.07M-2.93M-4.28M-4.76M-2.75M-1.32M
Net Income-3.23M-3.23M-2.04M-4.56M-2.83M-1.39M
Balance Sheet
Total Assets3.40M3.40M2.32M3.39M2.64M1.42M
Cash, Cash Equivalents and Short-Term Investments2.85M2.84M1.65M1.97M1.43M1.33M
Total Debt37.17K37.17K36.48K140.68K235.33K24.17K
Total Liabilities566.92K566.92K751.70K639.91K818.02K280.30K
Stockholders Equity2.83M2.83M1.56M2.75M1.82M1.14M
Cash Flow
Free Cash Flow-2.92M-2.92M-4.00M-4.13M-3.35M-1.24M
Operating Cash Flow-2.91M-2.91M-3.96M-3.52M-2.67M-1.24M
Investing Cash Flow-13.48K-13.48K2.96M-608.68K-684.50K0.00
Financing Cash Flow4.11M4.11M673.01K4.65M3.45M-69.03K

QEM Limited Technical Analysis

Technical Analysis Sentiment
Negative
Last Price0.02
Price Trends
50DMA
0.02
Positive
100DMA
0.02
Negative
200DMA
0.03
Negative
Market Momentum
MACD
>-0.01
Negative
RSI
9.02
Positive
STOCH
333.33
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:QEM, the sentiment is Negative. The current price of 0.02 is below the 20-day moving average (MA) of 0.02, above the 50-day MA of 0.02, and below the 200-day MA of 0.03, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 9.02 is Positive, neither overbought nor oversold. The STOCH value of 333.33 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:QEM.

QEM Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (65)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
65
Neutral
$15.17B7.614.09%5.20%3.87%-62.32%
56
Neutral
AU$16.61M-37.14-3.11%7.09%-275.00%
54
Neutral
AU$20.56M-2.05-13.12%-13.55%-8.96%
48
Neutral
AU$11.00M-2.92-7.92%16.52%
44
Neutral
AU$12.57M-3.78-2835.53%65.74%
42
Neutral
AU$3.55M-0.84-147.07%-36.92%
39
Underperform
AU$8.35M-15.46%-9.56%87.68%
* Energy Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:QEM
QEM Limited
0.02
-0.05
-76.19%
AU:ATS
Australis Oil & Gas
0.02
<0.01
50.00%
AU:PV1
Provaris Energy Ltd
0.01
>-0.01
-30.00%
AU:VEN
Vintage Energy Ltd.
AU:GAS
State Gas Ltd.
0.03
-0.01
-30.00%
AU:BAS
Bass Oil Ltd
0.05
<0.01
4.00%

QEM Limited Corporate Events

QEM Limited Announces Director’s Acquisition of Incentive Options
Nov 26, 2025

QEM Limited announced a change in the director’s interest, with Robert Cooper acquiring 5,000,000 unquoted options as part of an incentive plan approved by shareholders. This move reflects the company’s strategy to align its leadership with shareholder interests and potentially enhance its operational focus and market positioning.

QEM Limited Issues 5 Million Unquoted Options
Nov 26, 2025

QEM Limited has announced the issuance of 5,000,000 unquoted options, exercisable at $0.045 and expiring on November 26, 2028. These securities are part of previously announced transactions and are not intended to be quoted on the ASX, indicating a strategic move to potentially raise capital or incentivize stakeholders.

QEM Limited Passes All Resolutions at 2025 AGM
Nov 26, 2025

QEM Limited successfully passed all resolutions at its Annual General Meeting held on 26 November 2025. The approval of key resolutions, including the re-election of Timothy Wall as a Director and the issuance of options to Managing Director Robert Cooper, highlights the company’s stable leadership and strategic direction. These developments are expected to strengthen QEM’s operational capabilities and support its growth ambitions in the vanadium and energy sectors.

QEM Limited’s 2025 AGM: Progress, Challenges, and Strategic Shifts
Nov 26, 2025

QEM Limited’s 2025 Annual General Meeting highlighted significant progress and challenges in the development of the Julia Creek Vanadium and Energy Project. Despite setbacks in test work for key separation steps, the project achieved milestones such as securing environmental approvals and advancing cultural heritage agreements. A strategic review is underway, expected to conclude in early 2026, to reassess project activities. Additionally, the company underwent a management transition with Robert Cooper taking over as CEO, bringing extensive industry experience. The vanadium sector’s growth is supported by government initiatives, and QEM continues to support renewable energy efforts in the region.

QEM Limited Advances Julia Creek Project Amid Quarterly Report Update
Nov 25, 2025

QEM Limited has re-lodged its quarterly report for the period ending 30 September 2025, addressing a query from the ASX by adding a disclosure and correcting inconsistencies. The company has made significant progress in its Julia Creek project, including finalizing a Cultural Heritage Management Plan, completing drilling and groundwater monitoring, and receiving metallurgical test results. These advancements support the progression of the Environmental Impact Statement and strategic review of the project, focusing on capital preservation and exploring opportunities.

QEM Limited Advances Julia Creek Project with Key Developments
Oct 31, 2025

QEM Limited has made significant progress in advancing its Julia Creek Vanadium and Energy Project, including finalizing a Cultural Heritage Management Plan and completing a multipurpose drilling and groundwater monitoring campaign. The company has also received important metallurgical test results, which have prompted a strategic review of the project to explore all potential opportunities. These developments, along with a leadership transition and continued focus on environmental and community engagement, position QEM to strengthen its operations and strategic direction.

QEM Limited Announces Proposed Securities Issue
Oct 17, 2025

QEM Limited has announced a proposed issue of securities, specifically options exercisable at $0.045, with an expiration date set for November 26, 2028. This issuance involves a total of 5,000,000 securities, with the proposed issue date being November 26, 2025. The announcement signifies QEM Limited’s strategic financial maneuver to potentially enhance its capital structure, which could impact its market positioning and offer new opportunities for stakeholders.

QEM Limited Announces Upcoming Annual General Meeting
Oct 17, 2025

QEM Limited, a company listed on the Australian Securities Exchange, has announced its upcoming Annual General Meeting (AGM) scheduled for November 26, 2025, in Brisbane. The company is encouraging shareholders to submit proxy votes and questions in advance to facilitate efficient meeting proceedings. The Notice of Meeting and Explanatory Memorandum are available online, and shareholders are advised to ensure their contact details are updated for electronic communications.

QEM Limited Announces 2025 Annual General Meeting Amidst Strategic Resource Development
Oct 1, 2025

QEM Limited has announced its 2025 Annual General Meeting will be held on November 26, 2025. The meeting will be an opportunity for stakeholders to engage with the company’s strategic direction, particularly in light of its significant resource base at Julia Creek. This announcement underscores QEM’s commitment to advancing its position in the energy and vanadium markets, leveraging its substantial mineral resources to meet global demand.

QEM Limited Releases 2025 Corporate Governance Statement
Sep 30, 2025

QEM Limited has released its corporate governance statement for the financial year ending June 30, 2025. The statement, approved by the board and available on their website, outlines the company’s adherence to the ASX Corporate Governance Council’s principles and recommendations. This disclosure is part of their compliance with ASX listing rules, ensuring transparency and accountability in their governance practices.

QEM Limited Releases 2025 Corporate Governance Statement
Sep 30, 2025

QEM Limited has released its Corporate Governance Statement for the financial year ending June 30, 2025, detailing its adherence to the ASX Corporate Governance Council’s recommendations. The company has opted not to establish individual board committees, citing the current board’s experience and skill set as sufficient for handling these responsibilities. This decision reflects QEM Limited’s strategic focus on optimizing resource allocation while maintaining effective governance practices.

QEM Limited Releases 2025 Annual Report Highlighting Financial Performance
Sep 30, 2025

QEM Limited has released its 2025 Annual Report for the year ending June 30, 2025. The report includes comprehensive financial statements and disclosures that provide insights into the company’s financial health and operational performance over the past year. This release is crucial for stakeholders as it offers a detailed overview of QEM Limited’s financial position and strategic direction, potentially impacting investor decisions and market perception.

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: Dec 30, 2025