QMines Ltd. (AU:QML)
ASX:QML
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QMines Ltd.
(Sydney:QML)
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Rating:53Neutral
Price Target:
AU$0.06
▲(0.00% Upside)
Action:ReiteratedDate:05/01/26
Overall score reflects weak financial performance (minimal revenue, ongoing losses, and persistent cash burn) partially offset by a relatively strong balance sheet with low leverage. Technicals are moderately positive with price above major moving averages, but momentum is nearing overbought levels. Valuation is constrained by negative earnings (negative P/E) and no dividend yield data.
Positive Factors
Low leverage / strong balance sheet
Low leverage and a sizable equity base provide durable financial flexibility for a development-stage miner. This supports funding of exploration and early project capex with lower refinancing risk, improves ability to structure JV or project finance, and lengthens runway versus indebted peers.
Negative Factors
Persistent losses and negative margins
Sustained operating losses weaken returns on capital and erode retained earnings, limiting internal funding for development. Negative margins indicate the business is not yet scalable profitably and increase the probability management must prioritize financing over value-accretive investment.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
Low leverage and a sizable equity base provide durable financial flexibility for a development-stage miner. This supports funding of exploration and early project capex with lower refinancing risk, improves ability to structure JV or project finance, and lengthens runway versus indebted peers.
Read all positive factors
QMines Ltd. (QML) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$38.86M
Dividend YieldN/A
Average Volume (3M)2.00M
Price to Earnings (P/E)―
Beta (1Y)0.87
Revenue GrowthN/A
EPS Growth39.20%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding647,604,430
10 Day Avg. Volume1,993,740
30 Day Avg. Volume1,997,672
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)0.62
Price to Sales (P/S)178.47
P/FCF Ratio-2.55
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
QMines Ltd. Business Overview & Revenue Model
Company Description
QMines Limited engages in the development and exploration of copper and gold projects in Australia. The company's flagship project is the Mount Chalmers copper and gold mine covering an area of approximately 316 square kilometers located to the no...
How the Company Makes Money
QMines Ltd. generates revenue by exploring, developing, and potentially extracting mineral resources such as copper and gold from its mining projects. Once commercially viable resources are identified, the company sells raw materials via contracts...
QMines Ltd. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 14.97K | 88.23K | 178.21K | 22.17K | 0.00 | 2.51K |
| Gross Profit | -53.49K | 88.23K | 178.21K | 22.17K | -234.62K | -9.05K |
| EBITDA | -3.23M | -2.72M | -2.88M | -5.66M | -2.93M | -1.57M |
| Net Income | -3.73M | -2.94M | -3.37M | -5.70M | -3.17M | -1.58M |
Balance Sheet | ||||||
| Total Assets | 35.95M | 27.91M | 21.49M | 16.39M | 12.79M | 14.38M |
| Cash, Cash Equivalents and Short-Term Investments | 5.84M | 3.50M | 607.79K | 2.29M | 1.03M | 9.05M |
| Total Debt | 1.61M | 1.74M | 1.36M | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 2.66M | 2.61M | 3.41M | 455.11K | 386.80K | 336.67K |
| Stockholders Equity | 33.29M | 25.30M | 18.08M | 15.94M | 12.40M | 14.04M |
Cash Flow | ||||||
| Free Cash Flow | -8.77M | -6.19M | -6.07M | -4.65M | -8.01M | -3.53M |
| Operating Cash Flow | -6.94M | -4.46M | -4.57M | -4.49M | -4.88M | -2.91M |
| Investing Cash Flow | -1.75M | -1.81M | -1.49M | -169.09K | -3.13M | -616.00K |
| Financing Cash Flow | 13.05M | 9.18M | 4.37M | 5.91M | 0.00 | 12.58M |
QMines Ltd. Technical Analysis
Positive
0.06
Price Trends
0.05
Negative
0.05
Negative
0.05
Negative
Market Momentum
>-0.01
Negative
47.97
Neutral
65.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:QML, the sentiment is Positive. The current price of 0.06 is above the 20-day moving average (MA) of 0.05, above the 50-day MA of 0.05, and above the 200-day MA of 0.05, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 47.97 is Neutral, neither overbought nor oversold. The STOCH value of 65.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:QML.
QMines Ltd. 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% | |
53 Neutral | AU$38.86M | -2.63 | -12.73% | ― | ― | 39.20% | |
48 Neutral | AU$57.86M | -5.51 | -35.24% | ― | ― | -13.94% | |
47 Neutral | AU$26.41M | 8.28 | 2.76% | ― | ― | ― | |
46 Neutral | AU$6.18M | -3.07 | -55.63% | ― | ― | -85.71% | |
46 Neutral | AU$640.80M | -3.44 | -31.56% | ― | ― | -20.30% | |
44 Neutral | AU$68.72M | -8.57 | -8.12% | ― | ― | -17.65% |
* Basic Materials Sector Average
AU:QML
QMines Ltd.
0.06
0.02
53.85%
AU:COY
Coppermoly Limited
0.01
>-0.01
-23.08%
AU:CAE
Cannindah Resources Limited
0.05
<0.01
23.08%
AU:GSN
Great Southern Mining Limited
0.02
<0.01
4.55%
AU:FRS
Forrestania Resources Limited
0.51
0.47
1175.00%
AU:HAR
Haranga Resources Limited
0.13
0.08
170.83%
QMines Ltd. Corporate Events
QMines outlines Mt Chalmers restart plans in investor presentation
Apr 23, 2026
QMines has released an investor presentation outlining its plans to restart the historic Mt Chalmers mine and update investors via a dedicated webinar. The company reiterates that its mineral resource and ore reserve estimates for Mt Chalmers, Dev...
QMines to Detail QIC-Backed Funding Boost for Mt Chalmers Push
Apr 20, 2026
QMines Ltd has highlighted a transformational A$15 million strategic investment from the QIC Critical Minerals and Battery Technology Fund, designed to fast‑track development of its Mt Chalmers copper and gold project in Central Queensland. ...
QMines Secures $15m QIC Backing to Fast-Track Mt Chalmers
Apr 19, 2026
QMines has secured a $15 million strategic investment from the QIC Critical Minerals and Battery Technology Fund to accelerate development of its Mt Chalmers copper and gold project in central Queensland. The package comprises a $5 million equity ...
QMines Seeks Trading Halt Ahead of Strategic Mt Chalmers Investment Announcement
Apr 16, 2026
QMines Limited has requested a trading halt on its securities on the ASX as it prepares an announcement regarding a proposed strategic investment in its Mt Chalmers copper and gold project in Central Queensland. The halt will remain in place until...
QMines promotes Caristo to executive director and clears project debt
Mar 23, 2026
QMines has elevated experienced geologist and long-serving non-executive director Peter Caristo to the role of executive director, backdated to February 2026, reflecting his expanded role in driving the company’s Definitive Feasibility Study...
QMines Uncovers Bonanza Gold and Silver and Maps Larger System at Mount Mackenzie
Mar 17, 2026
QMines has reported bonanza-grade gold and silver assays from diamond drill hole MMDD010 at the Vein355 prospect within its Mount Mackenzie Project in Central Queensland. The hole confirmed a coherent shallow mineralised breccia, including standou...
QMines releases 2026 interim financial report for half year to 31 December 2025
Mar 16, 2026
QMines Ltd. has released its 2026 Interim Report for the half year ended 31 December 2025, outlining the group’s consolidated financial performance, position, and cash flows. The report package includes the directors’ report, general i...
QMines extends high-grade Mount Mackenzie hits and flags porphyry potential
Mar 8, 2026
QMines has reported further strong drill results from its first deep diamond program at the Mount Mackenzie project, intersecting multiple high-grade gold and silver zones that remain open along strike and at depth. The latest holes also delivered...
QMines Flags Visible Gold in Drilling at Mount Mackenzie Vein 355
Feb 25, 2026
QMines has reported the observation of visible gold in diamond core from hole MMDD010 at the Vein 355 prospect within its Mount Mackenzie gold and silver project in Central Queensland. The mineralisation is hosted in vuggy, strongly oxidised volca...
QMines Boosts Develin Creek Resource to Underpin Phase 2 Expansion
Feb 22, 2026
QMines has reported a substantial upgrade to the Mineral Resource Estimate at its Develin Creek Copper–Zinc–Gold–Silver Project in Queensland. The resource now totals 4.70 million tonnes, with 90% classified as Indicated, reflect...
QMines Launches Definitive Feasibility Study for Mt Chalmers Copper-Gold Project
Feb 9, 2026
QMines has commenced a Definitive Feasibility Study for its Mt Chalmers copper-gold project in Central Queensland, marking a transition from explorer to potential producer. The study spans mining, processing, infrastructure, environmental approval...
QMines Issues New Shares as Mt Mackenzie Drilling Progresses and Corporate Talks Begin
Feb 6, 2026
QMines Limited has issued 9,090,909 fully paid ordinary shares under provisions of the Corporations Act that allow on-sale of securities without a prospectus, confirming its ongoing compliance with Australian corporate reporting and disclosure req...
QMines Seeks ASX Quotation for Shares Issued in Loan Conversion
Feb 6, 2026
QMines Limited has applied to the ASX for quotation of 9,090,909 new fully paid ordinary shares, issued as part consideration for a loan that was previously approved by shareholders at the company’s annual general meeting. The move formalize...
Glossary
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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.