Resource Base Limited (RBX) AI Stock Analysis

• Market Cap: AU$5.64M
• Dividend Yield: N/A
• Average Volume (3M): 32.08K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.68
• Revenue Growth: N/A
• EPS Growth: 37.65%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): -0.02
• Shares Outstanding: 115,184,490
• 10 Day Avg. Volume: 49,225
• 30 Day Avg. Volume: 32,076
• PEG Ratio: 0.04
• Price to Book (P/B): 1.67
• Price to Sales (P/S): 296.56
• P/FCF Ratio: -3.87
• 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$0.05 ▲(53.33% Upside)

The score is held back primarily by weak financial performance (persistent losses and negative cash flow, plus declining equity despite being debt-free). Technicals provide some support because the price is above key moving averages, but overbought/negative MACD signals temper that. Valuation remains challenged due to loss-making status (negative P/E) and no stated dividend yield.

Positive Factors

Debt-free balance sheet

Zero reported debt across 2023–2025 materially reduces financial distress risk and preserves strategic optionality for an exploration company. This structural low leverage gives management flexibility to finance projects or endure prolonged exploration cycles without fixed interest burdens.

Reduced cash burn in 2025

A demonstrable reduction in free cash outflow in 2025 signals improving cash management and a step toward sustainable operations. If sustained, this trend lowers near-term refinancing need and increases the likelihood the company can progress projects with less frequent dilutive capital raises.

Narrowing net loss in latest year

A narrowing net loss over recent years suggests operational improvements or cost controls beginning to take effect. For a resource explorer, this can indicate better project prioritization or expense discipline that, if continued, improves the path to break-even and long-term viability.

Negative Factors

Persistent annual net losses

Continuous annual losses from 2020–2025 erode internal capital and undermine the company’s ability to self-fund exploration and development. Over time this forces reliance on external financing, increases dilution risk, and weakens returns potential unless a clear revenue-producing project emerges.

Consistent negative cash flow

Persistent negative operating and free cash flows indicate the business consumes cash rather than generates it, creating structural funding requirements. This undermines long-term sustainability, raises refinancing frequency, and can constrain project timelines if capital access tightens.

Shrinking equity base

Material decline in shareholders' equity over recent years signals dilution or accumulated losses that weaken the balance sheet cushion. A smaller equity base limits resilience to shocks, heightens dependence on new capital raises, and can magnify dilution for existing shareholders over the medium term.

Resource Base Limited Business Overview & Revenue Model

Company Description

Resource Base Limited engages in the acquisition, development, and exploration of mineral properties in Australia. The company holds 100% interest in the Black Range project, which consists of a copper, gold, and zinc hosted prospect covering an area of 124 square kilometers located in the Stavely volcanic complex in western Victoria; and the Mitre Hill project that consists of 25 applications for exploration licenses covering an area of approximately 7,022 square kilometers located within the Murray Basin across Victoria and South Australia. The company was incorporated in 2005 and is based in Perth, Australia.

How the Company Makes Money

RBX primarily generates revenue through the sale of extracted minerals and metals. Key revenue streams include direct sales contracts with industrial manufacturers, commodity traders, and other entities that require raw materials for production processes. The company may also engage in joint ventures and partnerships with other mining firms or stakeholders to optimize resource extraction and share financial burdens. Additionally, RBX might benefit from favorable commodity pricing and efficient operational practices that enhance profitability. Significant factors contributing to earnings include market demand for specific minerals, operational efficiency, and strategic geographic positioning of mining sites.

Resource Base Limited Financial Statement Overview

Summary

Overall financials are weak: revenue is minimal/irregular, the company has posted net losses every year (2020–2025), and both operating cash flow and free cash flow are consistently negative. The main positive is a currently debt-free balance sheet, but equity has been shrinking materially, implying ongoing funding/dilution risk if losses persist.

Income Statement

Revenue remains very small and volatile (including multiple years with zero revenue), and profitability is consistently weak. The company has posted net losses every year from 2020–2025, with very large negative profit margins that worsen interpretation given the low revenue base. A positive in the latest year is that net loss narrowed versus 2024 and 2023, but the overall earnings profile is still firmly loss-making and lacks clear operating leverage.

Balance Sheet

Leverage is currently low, with total debt at zero in 2023–2025 and a zero debt-to-equity ratio, which reduces financial risk. However, equity has been shrinking materially over time (from 7.0M in 2022 to 1.7M in 2025), and returns on equity are deeply negative in recent years due to ongoing losses. Earlier periods also show structural balance sheet stress (negative equity in 2020–2021), highlighting dilution/recapitalization risk if losses continue.

Cash Flow

Cash generation is weak: operating cash flow and free cash flow are negative in every year shown, indicating the business is consuming cash rather than funding itself. There is some improvement in cash burn in 2025 versus 2024 (free cash outflow reduced), and free cash flow has been less negative than net income in recent years, but the company still relies on external funding to sustain operations until it reaches consistent revenue and positive cash flow.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	9.42K	0.00	10.00K	0.00	2.47K
Gross Profit	-1.31K	9.42K	-26.64K	-46.53K	-6.72K	2.26K
EBITDA	-2.32M	-2.28M	-2.78M	-3.96M	-2.17M	-1.17M
Net Income	-2.36M	-2.36M	-2.81M	-4.04M	-2.19M	-1.49M
Balance Sheet
Total Assets	1.81M	1.81M	3.18M	5.93M	7.37M	119.66K
Cash, Cash Equivalents and Short-Term Investments	796.90K	796.90K	585.11K	1.59M	2.14M	97.94K
Total Debt	0.00	0.00	0.00	0.00	56.87K	3.43M
Total Liabilities	136.94K	136.94K	89.10K	64.86K	324.82K	4.34M
Stockholders Equity	1.67M	1.67M	3.09M	5.87M	7.05M	-4.22M
Cash Flow
Free Cash Flow	-715.06K	-721.45K	-1.13M	-2.51M	-4.12M	-1.13M
Operating Cash Flow	-659.20K	-659.20K	-544.83K	-1.17M	-1.88M	-677.87K
Investing Cash Flow	-62.25K	-62.25K	-492.95K	-1.27M	-2.24M	-450.25K
Financing Cash Flow	933.03K	933.03K	0.00	1.84M	6.17M	1.20M

Resource Base Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.03
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:RBX, the sentiment is Positive. The current price of 0.03 is below the 20-day moving average (MA) of 0.04, below the 50-day MA of 0.04, and below the 200-day MA of 0.04, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 70.06 is Negative, neither overbought nor oversold. The STOCH value of 104.41 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:RBX.

Resource Base Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
RBX	50 Neutral	AU$5.64M	-2.31	-99.05%	―	―	37.65%
MRZ	49 Neutral	AU$52.94M	-3.30	-20.35%	―	―	42.72%
DAF	48 Neutral	AU$4.22M	-15.38	-66.08%	―	―	80.88%
AAJ	46 Neutral	AU$6.19M	-1.76	-99.88%	―	―	-59.65%
A8G	46 Neutral	AU$5.21M	-1.91	-41.07%	―	-100.00%	-635.94%
TMB	46 Neutral	AU$12.83M	-2.01	-37.42%	―	―	3.65%

Resource Base Limited Corporate Events

Resource Base Limited Reveals Details of Unlisted Options

Resource Base Limited has announced details about the composition of its unlisted options expiring in 2028, providing insight into the distribution of unit holders and their respective shares. The release indicates a significant concentration of ownership, with 93.10% of units held by a small number of stakeholders holding over 100,000 units, which could impact the liquidity and control dynamics within the company.

Resource Base Limited Announces Ownership Structure of Unlisted Options

Resource Base Limited has released information regarding the ownership composition of unlisted options expiring on March 26, 2028, priced at $0.06 per option. The top 22 holders collectively own approximately 70.95% of these options, indicating a concentrated distribution of ownership among key entities and investors, which could reflect their significant confidence in the company’s future direction.

Resource Base Limited Secures Strong Shareholder Support at AGM

Resource Base Limited held its Annual General Meeting where all proposed resolutions were passed with significant majorities. Key resolutions included the adoption of the remuneration report, re-election and election of directors, approval of a new plan, and amendments to existing terms, indicating strong shareholder support and strategic alignment for future operations.

Resource Base Limited Expands Exploration with Promising REE and Mineral Sands Projects

Resource Base Limited has reported significant progress in its Mitre Hill REE Project, located in the Murray Basin, with a maiden JORC Inferred Mineral Resource estimate indicating substantial potential for growth. The company has also expanded its exploration activities in South Australia with the acquisition of two promising tenements in the Gawler Craton, which are strategically positioned near recent discoveries of rare earth elements and other valuable minerals. These developments could enhance Resource Base’s positioning in the mining industry and offer promising opportunities for stakeholders.

Resource Base Limited Announces Details for Upcoming AGM

Resource Base Limited has announced the details of its upcoming Annual General Meeting, scheduled for November 26, 2025, in Perth. Shareholders are encouraged to participate by lodging proxy votes electronically, as the company shifts towards digital communication to streamline processes and enhance accessibility. This move reflects the company’s commitment to modernizing its shareholder engagement and operational efficiency.

Resource Base Limited Schedules Annual General Meeting for November 2025

Resource Base Limited has announced its Annual General Meeting (AGM) scheduled for November 26, 2025, at Minerva Corporate in Perth, WA. Shareholders are encouraged to participate as the meeting will address important business matters affecting their shareholding. The company outlines various voting methods including in-person, by proxy, or through corporate representatives, emphasizing the significance of shareholder votes in corporate governance.