QMines Ltd. (AU:QML)
ASX:QML
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QMines Ltd.
(Sydney:QML)
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Rating:45Neutral
Price Target:
AU$0.05
â–¼(-21.67% Downside)
Action:ReiteratedDate:03/24/26
The score is primarily held down by weak financial performance driven by ongoing losses and sustained cash burn, despite a relatively low-leverage balance sheet. Technicals add a modest negative tilt as the stock trades below key moving averages with a negative MACD. Valuation is constrained by negative earnings (negative P/E) and no dividend data to offset the risk profile.
Positive Factors
Low leverage and sizable equity base
QMines' very low debt-to-equity and sizable equity base provide durable financial flexibility for a development-stage miner. Low leverage reduces solvency risk during multi-year exploration and development cycles, lowers fixed financing costs, and preserves optionality for strategic partnerships or staged project funding.
Negative Factors
Consistent negative operating and free cash flow
Persistent operating and free cash outflows mean QMines cannot self-fund exploration or development and remains dependent on external capital. Over 2–6 months this structural cash burn heightens dilution risk, constrains project timing, and forces management to prioritize financing over operational optionality.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage and sizable equity base
QMines' very low debt-to-equity and sizable equity base provide durable financial flexibility for a development-stage miner. Low leverage reduces solvency risk during multi-year exploration and development cycles, lowers fixed financing costs, and preserves optionality for strategic partnerships or staged project funding.
Read all positive factors
QMines Ltd. (QML) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$30.44M
Dividend YieldN/A
Average Volume (3M)2.00M
Price to Earnings (P/E)―
Beta (1Y)1.18
Revenue GrowthN/A
EPS Growth48.47%
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...
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
Negative
0.06
Price Trends
0.05
Negative
0.05
Negative
0.05
Negative
Market Momentum
>-0.01
Negative
43.45
Neutral
44.44
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:QML, the sentiment is Negative. 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 bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 43.45 is Neutral, neither overbought nor oversold. The STOCH value of 44.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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% | |
46 Neutral | AU$6.18M | -3.07 | -55.63% | ― | ― | -66.67% | |
46 Neutral | AU$31.00M | 8.28 | 2.76% | ― | ― | 26.92% | |
45 Neutral | AU$30.44M | -2.63 | -12.73% | ― | ― | 48.47% | |
44 Neutral | AU$55.12M | -8.57 | -8.12% | ― | ― | 43.48% | |
44 Neutral | AU$48.90M | -5.51 | -35.24% | ― | ― | ― | |
43 Neutral | AU$540.16M | -3.44 | -31.56% | ― | ― | 86.21% |
* Basic Materials Sector Average
AU:QML
QMines Ltd.
0.05
<0.01
11.90%
AU:COY
Coppermoly Limited
0.01
>-0.01
-28.57%
AU:CAE
Cannindah Resources Limited
0.04
-0.01
-20.83%
AU:GSN
Great Southern Mining Limited
0.03
<0.01
35.00%
AU:FRS
Forrestania Resources Limited
0.48
0.44
1100.00%
AU:HAR
Haranga Resources Limited
0.11
0.06
120.00%
QMines Ltd. Corporate Events
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...
QMines Advances Queensland Copper-Gold Portfolio with Strong Drill Results and Fresh Funding
Jan 30, 2026
QMines advanced its Central Queensland exploration portfolio in the December 2025 quarter, progressing maiden multi-rig drilling at the high-grade Mount Mackenzie gold and silver project and completing the 2025 drilling program at the Develin Cree...
QMines Refines Mt Chalmers Strategy to Fast-Track Copper–Gold Production
Jan 29, 2026
QMines has reset its development strategy for the flagship Mt Chalmers copper–gold project, adopting a single-asset, expandable 1 million tonne per annum phased development plan that prioritises rapid first production, early cashflow and red...
QMines Adds Senior Talent to Drive Mt Chalmers Copper-Gold Development
Jan 18, 2026
QMines Limited has strengthened its leadership team with the appointment of veteran project specialist Richard Wittig as Development Manager and experienced geologist Thomas Bartschi as Exploration Manager and Site Senior Executive, moves aimed at...
QMines Issues New Shares and Continues Exploration at Mt Mackenzie
Jan 14, 2026
QMines Limited has issued 1,500,000 fully paid ordinary shares under provisions of the Corporations Act that allow on-sale of the securities without a disclosure document, confirming it is compliant with its continuous disclosure and financial rep...
QMines Extends High-Grade Gold and Silver Mineralisation at Mount Mackenzie
Jan 11, 2026
QMines has reported further high-grade gold and silver intercepts from its maiden reverse circulation drilling campaign at the Mount Mackenzie project, with 22 of 36 planned holes completed for 3,240 metres of a 5,000-metre program. The latest ass...
QMines Director Increases Indirect Equity Stake Through Performance Rights Conversion
Jan 11, 2026
QMines Limited has disclosed a change in director Andrew Sparke’s indirect holdings following the conversion and issuance of securities tied to his various investment vehicles. Sparke, through Turkey Investments Pty Ltd, Olive Capital Pty Lt...
QMines Issues 37 Million Unquoted Performance Rights Under Incentive Scheme
Jan 11, 2026
QMines Ltd has issued 37 million unquoted performance rights under its employee incentive scheme, with the new securities not intended to be quoted on the ASX. The move increases the company’s pool of unquoted equity-linked remuneration, ali...
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.