Resource Base Limited (RBX) AI Stock Analysis

• Market Cap: AU$4.84M
• Dividend Yield: N/A
• Average Volume (3M): 32.08K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.57
• 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: 46 Neutral
• Price Target: AU$0.04 ▲(36.67% Upside)

The score is primarily constrained by weak financial performance (ongoing losses, very small/volatile revenue, and consistently negative operating/free cash flow), implying continued funding and dilution risk despite being debt-free. Technicals are mixed/neutral and provide limited offset, while valuation metrics are not supportive due to negative earnings and no dividend yield data.

Positive Factors

Low Leverage / Debt-Free Balance Sheet

A debt-free balance sheet materially reduces structural financial risk and default probability, giving the company flexibility to fund exploration or restructure via equity. Over 2–6 months this improves solvency resilience versus leveraged peers and lowers fixed cost burden.

Improving Cash Burn Trend

Reduced free cash outflow indicates management is moderating cash burn, extending runway and lowering near-term external financing needs. If sustained, this structural improvement improves the company's ability to advance projects without frequent dilutive capital raises.

Narrowing Net Loss

A narrowing net loss signals progress toward operational control or higher project productivity. Persisting this trend would suggest the company is moving toward break-even, improving long-term viability and reducing the structural need for continual recapitalisation.

Negative Factors

Persistent Negative Cash Flow

Operating and free cash flow have been negative across multiple years, indicating the business structurally consumes cash. This necessitates ongoing external funding, elevates dilution risk, and undermines sustainable self-funded growth over the medium term.

Minimal and Volatile Revenue

Very small, irregular revenue and several zero-revenue years show the company lacks consistent commercial receipts. This weakens model durability, reduces operating leverage, and makes forecasting cash needs and achieving sustainable margins difficult over 2–6 months.

Shrinking Equity and Past Negative Equity

Material declines in shareholders' equity and historical negative equity demonstrate structural capital strain. This reduces the balance sheet buffer, worsens creditworthiness, and increases the likelihood of future dilution or recapitalisation if losses persist.

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 financial profile is high-risk: persistent net losses, minimal/irregular revenue, and negative operating/free cash flow across all years. A key positive is the debt-free balance sheet in 2023–2025, but shrinking equity and ongoing cash burn imply continued external funding needs and dilution risk.

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: Negative
• Last Price: 0.03
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:RBX, the sentiment is Negative. 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 neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 43.35 is Neutral, neither overbought nor oversold. The STOCH value of 16.12 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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%
MRZ	49 Neutral	AU$45.24M	-2.86	-20.35%	―	―	42.72%
DAF	48 Neutral	AU$4.22M	-13.85	-66.08%	―	―	80.88%
AAJ	47 Neutral	AU$15.94M	-1.98	-99.88%	―	―	-59.65%
RBX	46 Neutral	AU$4.84M	-1.98	-99.05%	―	―	37.65%
A8G	46 Neutral	AU$5.21M	-1.80	-41.07%	―	-100.00%	-635.94%
TMB	46 Neutral	AU$13.34M	-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.