Ronin Resources Ltd (RON) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: N/A
• Average Volume (3M): 70.92K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.55
• Revenue Growth: N/A
• EPS Growth: 71.92%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Other Precious Metals
• EPS (TTM): >-0.01
• Shares Outstanding: 40,375,010
• 10 Day Avg. Volume: 56,956
• 30 Day Avg. Volume: 70,921
• PEG Ratio: 0.23
• Price to Book (P/B): 1.73
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -19.76
• 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: 56 Neutral
• Price Target: AU$0.20 ▲(40.00% Upside)
• Action: Reiterated Date: 01/31/26
• Date: Action: Reiterated 01/31/26

The score is held back primarily by weak financial performance (pre-revenue, recurring losses, and negative operating/free cash flow despite improvement). This is partially offset by strong technical momentum (price above key moving averages with positive MACD). Valuation is constrained by a negative P/E and lack of dividend yield data.

Positive Factors

Debt-free balance sheet

A lack of debt meaningfully reduces financial risk and fixed interest obligations, preserving flexibility. For an early-stage miner, an unlevered capital structure improves optionality to time financing rounds, supports exploration spending, and lowers bankruptcy risk over the medium term.

Improving losses and positive equity

Sequential reduction in losses alongside positive equity indicates management is trimming burn and retaining a financial buffer. Sustained loss reduction improves runway and investor confidence, making future fundraising less dilutive and enabling more strategic resource allocation if the trend continues.

Reduced operating cash burn

A material improvement in operating cash outflows extends the company’s cash runway and reduces near-term funding needs. If operational cost control persists, the company can focus capital on higher-impact exploration or development activities, lowering execution risk over the medium term.

Negative Factors

Pre-revenue business model

Having no revenue means margins and unit economics are unproven and long-term viability depends on successful project development or commodity commercialization. This structural uncertainty forces reliance on external capital and makes sustainable profitability conditional on execution and commodity cycles.

Persistent negative cash flow

Chronic negative operating and free cash flow necessitate repeated capital raises, increasing dilution risk and constraining strategic investments. Over a 2-6 month horizon this structural cash burn limits ability to scale exploration or development without clear funding plans.

Erosion of equity from cumulative losses

A downward trend in equity indicates ongoing value erosion and reduces the balance sheet buffer for shocks or project setbacks. Continued erosion narrows financing options, can raise lender/investor concerns, and increases the probability of dilutive capital raises if profitability is not achieved.

Ronin Resources Ltd Business Overview & Revenue Model

Company Description

Ronin Resources Ltd engages in the acquisition, development, evaluation, and exploration of mineral properties in Colombia. The company primarily explores for thermal coal, as well as gold and copper deposits. It holds a 100% interest in the Vetas project, which include one mining title and one mining concession application located in the Colombian Department of Norte de Santander; and the Santa Rosa project, including three mining license applications situated in the foothills of the Serranía de San Lucas in the municipality of Santa Rosa Sur, Department of Bolivár in northern Colombia. The company was incorporated in 2018 and is headquartered in Melbourne, Australia.

How the Company Makes Money

Ronin Resources Ltd generates revenue through the exploration and development of mineral resource projects. The company identifies and acquires mineral-rich properties, conducts exploration activities to assess the viability and value of these resources, and subsequently develops them for commercial extraction. Revenue is primarily derived from the sale of extracted minerals such as gold and copper to industrial manufacturers, commodity traders, and other buyers in the global market. Additionally, Ronin Resources may form strategic partnerships or joint ventures with other mining companies to share the costs and profits of large-scale projects. The company's earnings are significantly influenced by fluctuations in commodity prices, exploration success, and the efficiency of its extraction operations.

Ronin Resources Ltd Financial Statement Overview

Summary

Financials reflect an early-stage, effectively pre-revenue profile with persistent operating and net losses. While losses and cash burn improved in FY2025 and the company is debt-free with positive equity, ongoing negative operating and free cash flow indicate continued funding reliance.

Income Statement

The company is effectively pre-revenue (revenue is 0 in recent years) and has reported consistent operating losses and net losses each year. Losses improved in FY2025 (net loss of ~A$0.35M vs ~A$1.17M in FY2024), but profitability remains structurally negative given the lack of revenue, and margins are not meaningful under a zero-revenue profile.

Balance Sheet

The balance sheet shows no debt across the periods provided, which meaningfully reduces financial risk. Equity remains positive (~A$3.26M in FY2025), though it has trended down from FY2021, reflecting cumulative losses. Returns on equity are negative in most years, indicating ongoing value erosion despite a relatively clean (unlevered) capital structure.

Cash Flow

Cash generation is weak with negative operating cash flow and negative free cash flow in every year shown. The cash burn rate improved in FY2025 (operating cash flow of about -A$0.29M vs -A$0.73M in FY2024), but free cash flow remains negative, implying continued reliance on funding sources to sustain operations.

Breakdown	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	13.00
Gross Profit	0.00	0.00	0.00	0.00	13.00
EBITDA	0.00	-1.17M	35.95K	-99.46K	-57.97K
Net Income	-345.79K	-1.17M	-621.00K	-503.00K	-268.00K
Balance Sheet
Total Assets	3.36M	3.21M	3.97M	4.35M	4.73M
Cash, Cash Equivalents and Short-Term Investments	3.32M	3.17M	3.94M	4.32M	4.73M
Total Debt	0.00	0.00	0.00	0.00	0.00
Total Liabilities	98.58K	35.12K	81.57K	166.75K	54.80K
Stockholders Equity	3.26M	3.17M	3.89M	4.19M	4.67M
Cash Flow
Free Cash Flow	-285.13K	-728.22K	-710.30K	-496.98K	-172.67K
Operating Cash Flow	-285.13K	-728.22K	-710.30K	-496.98K	-172.67K
Investing Cash Flow	0.00	0.00	0.00	0.00	-327.78K
Financing Cash Flow	433.81K	-18.00K	300.00K	4.48M	500.78K

Ronin Resources Ltd Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.14
• 50DMA: Negative
• 100DMA: Positive
• 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:RON, the sentiment is Neutral. The current price of 0.14 is below the 20-day moving average (MA) of 0.22, below the 50-day MA of 0.20, and below the 200-day MA of 0.17, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 42.70 is Neutral, neither overbought nor oversold. The STOCH value of 15.15 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:RON.

Ronin Resources Ltd 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%
RON	56 Neutral	―	-21.91	-10.76%	―	―	71.92%
OCT	50 Neutral	AU$6.44M	-1.29	-55.11%	―	―	-164.12%
DUN	49 Neutral	AU$10.17M	-4.91	-25.70%	―	-100.00%	80.33%
RCR	47 Neutral	AU$5.05M	-3.72	-9.21%	―	―	54.74%
AS2	46 Neutral	AU$9.24M	-0.29	-93.45%	―	―	27.01%
M3M	46 Neutral	AU$6.06M	-1.14	-135.06%	―	―	30.99%

Ronin Resources Ltd Corporate Events

Ronin flags porphyry-scale potential at La Punilla after new Cu-Au anomalies

Ronin Resources has reported new exploration results from ongoing fieldwork at its 100%-owned La Punilla copper-gold project in San Juan, Argentina, where geologists are following up satellite-derived colour anomalies. Recent mapping and sampling at the Quebrada Palca area and other Sentinel 2 anomalies have identified further alteration zones that the company believes may be consistent with a porphyry-style mineral system.

The campaign recorded visible copper oxide mineralisation and tungsten-bearing quartz veins within phyllically altered rocks, alongside hyperspectral evidence of ammonium-bearing muscovite and illite across multiple anomalies, suggesting a possible district-scale porphyry potential. Ronin collected 33 rock-chip samples, including two for radiometric dating, with assay results pending, and plans to begin a drone-based high-resolution aeromagnetic survey in early March, which could significantly refine targets and shape the next phase of exploration at La Punilla.

If the emerging porphyry interpretation is confirmed, La Punilla could materially enhance Ronin’s project pipeline and reposition the company within the regional copper-gold exploration landscape. Stakeholders will be watching upcoming assays and geophysical data closely, as they may validate the scale of the system and support future investment and drilling decisions.

The most recent analyst rating on (AU:RON) stock is a Hold with a A$0.19 price target. To see the full list of analyst forecasts on Ronin Resources Ltd stock, see the AU:RON Stock Forecast page.

Ronin Resources Ramps Up Porphyry-Style Cu-Au Exploration at La Punilla in Argentina

Ronin Resources has commenced a follow-up copper-gold exploration program at its 100%-owned La Punilla Project in San Juan, Argentina, deploying a team of five geologists and field assistants to conduct rock-chip sampling, extensive geological mapping and detailed assessment of newly identified targets from satellite imagery. Results from a November 2025 field campaign, including rock-chip samples grading up to 1.89 g/t gold and 62 ppm molybdenum, suggest that mineralisation is associated with laterally extensive zones of dense sheeted quartz veinlets and support the interpretation of a porphyry-related copper-gold-molybdenum system; these veinlet zones have been prioritised for further work, and a high-resolution drone-based aeromagnetic survey is planned following current surface work, potentially advancing La Punilla as a significant exploration asset within Ronin’s portfolio and enhancing its positioning in the copper-gold exploration space.

The most recent analyst rating on (AU:RON) stock is a Hold with a A$0.21 price target. To see the full list of analyst forecasts on Ronin Resources Ltd stock, see the AU:RON Stock Forecast page.

Ronin Resources Avoids ASX Suspension as La Punilla Exploration Ramps Up

Ronin Resources has received confirmation from the ASX that it no longer intends to suspend trading in the company’s securities under Listing Rule 12.1, after earlier concerns that Ronin’s level of operations might not justify continued quotation. The decision follows the granting of tenements for Ronin’s 100%-owned La Punilla gold-silver project in Argentina in August and November 2025 and the commencement of fieldwork to validate previous exploration results. Encouraged by early work, Ronin plans an expanded exploration program at La Punilla in early 2026, including surface geochemistry, mapping, geophysics and geological studies, ahead of a planned trenching and maiden drilling campaign. The ASX will continue to monitor the company’s activity, but the removal of the suspension threat offers Ronin greater operational and market certainty as it pushes ahead with its project and broader corporate strategy into 2026.

Ronin Resources Advances Exploration at La Punilla Project as It Expands Growth Strategy

Ronin Resources Ltd has announced a follow-up exploration program for its 100%-owned La Punilla Gold-Silver Project in Argentina, citing encouraging initial results. Set to commence in early 2026, the program will include geochemistry, aeromagnetic surveys, mapping, and other geological assessments, with the potential to lead to a maiden drill campaign. Concurrently, the company continues to monitor its other projects and explore acquisition opportunities while adapting to challenges, such as socio-political issues in Colombia affecting the Vetas Project. These developments reinforce Ronin’s focus on advancing its portfolio and seeking growth opportunities in the resource industry.