Santa Fe Minerals Ltd. (SFM) AI Stock Analysis

• Market Cap: AU$44.99M
• Dividend Yield: N/A
• Average Volume (3M): 67.06K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.83
• Revenue Growth: N/A
• EPS Growth: 5.93%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): >-0.01
• Shares Outstanding: 142,818,790
• 10 Day Avg. Volume: 80,335
• 30 Day Avg. Volume: 67,063
• PEG Ratio: 0.47
• Price to Book (P/B): 1.93
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -3.08
• 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: 49 Neutral
• Price Target: AU$0.33 ▲(5.81% Upside)

The score is held back primarily by weak financial performance (no revenue, ongoing losses, and consistent cash burn despite zero debt) and limited valuation support (negative P/E, no dividend data). Technicals are the main offset, with price trading above major moving averages and positive MACD suggesting constructive momentum.

Positive Factors

Conservative capital structure (zero debt)

Maintaining zero debt materially lowers solvency and interest risks for a non‑producing gold explorer. This durable liquidity advantage preserves strategic optionality for project financing or M&A, reducing bankruptcy risk and providing flexibility when raising future equity.

Improving cash burn trend

A measurable reduction in cash burn versus prior years suggests tighter cost control or more efficient project spending. If sustained, this trend lengthens operational runway, lowers near‑term financing needs, and increases chances of reaching value‑creating milestones before dilution.

Reduction in net loss

Narrowing net losses indicates progress toward expense discipline or optimized exploration spend. A sustained decline in losses improves future cash flow prospects, reduces reliance on capital raises, and enhances the probability of reaching cash‑generating operations or JV opportunities.

Negative Factors

No revenue / non‑producing profile

Absent revenue, the business lacks operating cash inflows and must rely entirely on financing or asset transactions. This structural deficiency raises execution risk, extends time to profitability, and makes long‑term viability contingent on successful exploration results or external funding.

Persistent negative operating and free cash flow

Repeated negative operating and free cash flow compels ongoing external financing, increasing dilution risk and constraining investment. Over time, sustained cash burn can force downscaling of programs, asset disposals, or frequent equity raises that undermine shareholder value.

Eroding equity base and worsening returns

Material shrinkage in shareholders' equity and deeply negative ROE reflect recurring losses eroding capital. A weakened equity base limits balance sheet resilience, raises solvency concerns under stress, and increases likelihood that future funding will be dilutive or come at unfavorable terms.

Santa Fe Minerals Ltd. Business Overview & Revenue Model

Company Description

Santa Fe Minerals Limited engages in the exploration of gold and base metals in Australia. It explores for gold, copper, lead, zinc, nickel, silver, and vanadium deposits. The company holds 7 exploration licenses in Challa South and Challa North projects covering an area of approximately 463 square kilometers in the Windamurra and Narndee Intrusions in Western Australia. It also holds an option to acquire 80% interest in the Mt Murray base metals project located in Western Australia. The company was formerly known as EZA Corporation Limited and changed its name to Santa Fe Minerals Limited in October 2017. Santa Fe Minerals Limited was founded in 2000 and is based in Nedlands, Australia.

How the Company Makes Money

Santa Fe Minerals Ltd. generates revenue through the exploration and development of mineral properties, primarily by discovering valuable mineral deposits that can be mined and sold. The company engages in activities such as drilling and geological surveys to identify potential mining sites. Once a viable mineral deposit is confirmed, SFM may either develop the site into a full-scale mining operation or sell the rights to other mining companies. Additionally, SFM may enter into joint ventures or partnerships with other mining firms to share the costs and profits of developing mineral resources. These partnerships can significantly enhance the company's ability to finance its exploration activities and bring projects to fruition. The company's earnings are also influenced by factors such as commodity prices, operational efficiency, and exploration success rates.

Santa Fe Minerals Ltd. Financial Statement Overview

Summary

Very weak fundamentals: no revenue across the period provided, persistent operating losses, and consistently negative operating/free cash flow indicate an early-stage, cash-consuming profile. The key positive is zero debt, but equity has eroded materially over time, increasing funding/dilution risk.

Income Statement

The company reports no revenue across the full period provided, while losses remain persistent and sizeable (net loss of ~A$0.8m in FY2025 vs ~A$0.9m in FY2024). Profitability is structurally weak with negative gross profit and negative operating results each year, indicating an early-stage or non-producing profile with ongoing overheads and exploration/administrative spend. A modest improvement in net loss in FY2025 is a positive, but the absence of revenue keeps the income statement quality and sustainability very low.

Balance Sheet

Leverage is very conservative with zero debt reported in every year, which reduces financial risk. However, the equity base has declined materially over time (stockholders’ equity down from ~A$4.6–4.7m in FY2020–FY2021 to ~A$1.17m in FY2025), consistent with ongoing losses. Returns on equity are negative and worsening in FY2025 (about -69%), reflecting higher losses relative to a shrinking capital base; the balance sheet is clean on debt, but diminishing net assets constrain flexibility.

Cash Flow

Cash generation is weak: operating cash flow and free cash flow are negative in each year shown (FY2025 operating cash flow ~-A$0.73m; free cash flow ~-A$0.73m). There is some improvement versus FY2023 (when cash burn was closer to ~-A$0.97m), but the business still relies on external funding to sustain operations. Free cash flow roughly tracks net losses (free cash flow to net income ~1.0), which suggests reported losses are broadly mirrored by cash burn rather than being mostly non-cash.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-398.00	-398.00	-2.24K	-6.50K	-15.82K	-19.70K
EBITDA	-841.21K	-866.43K	-854.00K	-1.00M	-840.00K	-117.00K
Net Income	-395.25K	-809.22K	-856.00K	-1.02M	-732.00K	-137.00K
Balance Sheet
Total Assets	1.38M	1.38M	2.12M	2.94M	3.97M	4.68M
Cash, Cash Equivalents and Short-Term Investments	1.06M	1.06M	1.79M	2.52M	2.87M	3.44M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	210.23K	210.23K	147.94K	111.87K	119.03K	95.58K
Stockholders Equity	1.17M	1.17M	1.98M	2.83M	3.85M	4.58M
Cash Flow
Free Cash Flow	-732.00	-733.04K	-740.66K	-974.39K	-871.33K	-660.14K
Operating Cash Flow	-730.00	-731.32K	-740.66K	-974.39K	-817.72K	-660.14K
Investing Cash Flow	0.00	-1.72K	0.00	623.78K	254.36K	-299.38K
Financing Cash Flow	0.00	0.00	0.00	0.00	0.00	0.00

Santa Fe Minerals Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.31
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:SFM, the sentiment is Positive. The current price of 0.31 is above the 20-day moving average (MA) of 0.31, above the 50-day MA of 0.29, and above the 200-day MA of 0.20, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 62.40 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:SFM.

Santa Fe Minerals 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%
RAS	51 Neutral	AU$7.53M	-2.97	-127.51%	―	168.85%	13.51%
SFM	49 Neutral	AU$44.99M	-28.38	-51.49%	―	―	5.93%
DAF	48 Neutral	AU$4.22M	-13.85	-66.08%	―	―	80.88%
GSM	45 Neutral	AU$9.90M	-4.88	-131.62%	―	―	65.32%
WSR	43 Neutral	AU$3.97M	-1.18	-37.62%	―	―	76.76%
GNM	41 Neutral	AU$20.85M	-10.75	-32.31%	―	―	69.23%

Santa Fe Minerals Ltd. Corporate Events

Santa Fe Minerals Nears Completion of Côte d’Ivoire Gold Project Acquisition

Santa Fe Minerals Ltd has confirmed that nearly all conditions for its acquisition of gold projects from WIA Gold Limited in Côte d’Ivoire have been satisfied, with only the associated capital raising yet to complete. The company expects to receive capital raising funds by the end of this week and to finalise the transaction, including issuing consideration securities and new shares, by the end of January 2026, marking a key step in advancing its West African growth strategy.

The most recent analyst rating on (AU:SFM) stock is a Hold with a A$0.30 price target. To see the full list of analyst forecasts on Santa Fe Minerals Ltd. stock, see the AU:SFM Stock Forecast page.

Santa Fe Minerals Shareholders Approve Key Securities and Placement Resolutions

Santa Fe Minerals Limited has reported the results of its 7 January 2026 general meeting, where shareholders approved all resolutions put to the vote. The company received strong support via proxies and polls for the issue of consideration securities to WIA Gold Ltd and for the issue of placement shares to placement participants, with both resolutions passed by poll and no votes recorded against, clearing the way for the agreed securities issuances and associated funding and transaction steps to proceed.

The most recent analyst rating on (AU:SFM) stock is a Hold with a A$0.31 price target. To see the full list of analyst forecasts on Santa Fe Minerals Ltd. stock, see the AU:SFM Stock Forecast page.

Santa Fe Minerals Updates Registered Office and Postal Address

Santa Fe Minerals Ltd has updated the market that it has relocated its registered office and principal place of business to Level 4, 88 William Street, Perth, Western Australia, and has also changed its postal address to GPO Box 2570, Perth WA 6001. The administrative move, authorised by the board, reflects a formal change in the company’s corporate contact details but does not indicate any change to its operations or strategic direction, with limited immediate implications for shareholders beyond updated correspondence information.

Santa Fe Minerals Aligns Financial Year with New Subsidiaries

Santa Fe Minerals Ltd. has announced a change in its financial year-end from 30 June to 31 December, aligning with its newly acquired subsidiaries in Côte d’Ivoire. This strategic move aims to enhance efficiency and reduce costs in financial reporting and auditing, ensuring seamless governance and compliance across all entities. The transition includes a six-month financial year from 1 July to 31 December 2025, followed by a standard twelve-month financial year starting 1 January 2026.

Santa Fe Minerals Announces Proposed Securities Issue

Santa Fe Minerals Ltd has announced a proposed issue of 30,000,000 ordinary fully paid securities, with the issue date set for January 19, 2026. This move is part of a placement or other type of issue, potentially impacting the company’s financial structure and market positioning by increasing its capital base.

Santa Fe Minerals Ltd Announces Proposed Securities Issue

Santa Fe Minerals Ltd has announced a proposed issue of securities, including 8,000,000 performance rights and 20,000,000 ordinary fully paid shares, with the issuance date set for January 19, 2026. This move is likely to impact the company’s capital structure and could enhance its financial flexibility, potentially influencing its market positioning and stakeholder interests.

Santa Fe Minerals Expands Gold Portfolio in Côte d’Ivoire

Santa Fe Minerals Ltd. has announced the acquisition of 80% of four gold projects in Côte d’Ivoire from WIA Gold Limited. These projects, which cover a total area of 3,449 square kilometers, include multiple drill-ready gold targets with significant previous drilling results. The acquisition is part of Santa Fe’s strategy to build a strong pipeline of gold projects, ranging from early-stage prospects to ready-to-drill targets. The company has also secured commitments to raise $6 million, subject to shareholder approval, to support this expansion.

Santa Fe Minerals Ltd Initiates Trading Halt for Major Announcement

Santa Fe Minerals Ltd has requested a trading halt on its securities as it prepares to announce a significant capital raise and acquisition of a gold project. This move indicates a strategic expansion in its operations, potentially impacting its market position and offering new opportunities for stakeholders.

Santa Fe Minerals Ltd. Announces AGM Results

Santa Fe Minerals Ltd. announced the results of its Annual General Meeting held on November 21, 2025. The meeting included the passing of several resolutions, such as the adoption of the Remuneration Report, the re-election of Mr. Mark Jones, approval of Proportional Takeover Provisions, and a 10% Placement Facility. These resolutions indicate a strong shareholder support and strategic direction for the company, potentially enhancing its governance and financial flexibility.

Santa Fe Minerals Expands with Eburnea Gold Project Acquisition

Santa Fe Minerals Ltd has successfully acquired the Eburnea Gold Project in Cote d’Ivoire from Turaco Gold Ltd, marking a significant expansion in its gold exploration activities. The company also raised $1,200,000 through a capital raising initiative, which will fund exploration programs across its existing and newly acquired projects, positioning Santa Fe for potential growth in the resources sector.

Santa Fe Minerals Ltd. Announces 2025 Annual General Meeting

Santa Fe Minerals Ltd. has announced its 2025 Annual General Meeting, scheduled for November 21, 2025, at the office of Nexia Perth in Western Australia. Shareholders are encouraged to participate by attending or submitting proxy forms, with the deadline for proxy submissions set for November 19, 2025. The company emphasizes the importance of the Notice of Meeting and advises shareholders to consult professional advisers if needed.