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Sarytogan Graphite Limited (AU:SGA)
ASX:SGA
Australian Market

Sarytogan Graphite Limited (SGA) AI Stock Analysis

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AU:SGA

Sarytogan Graphite Limited

(Sydney:SGA)

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Neutral 46 (OpenAI - 5.2)
Rating:46Neutral
Price Target:
AU$0.10
▼(-4.00% Downside)
The score is held down primarily by the pre-revenue, loss-making and cash-burning financial profile, partially offset by a strong, debt-free balance sheet. Technical indicators are broadly neutral and valuation is difficult to support given negative earnings and no dividend data.
Positive Factors
Strong Balance Sheet
A debt-free balance sheet provides financial flexibility, allowing the company to invest in growth opportunities without the burden of interest payments.
Strategic Project Support
Government and strategic project status support can facilitate smoother regulatory processes and enhance the project's credibility, aiding long-term success.
Feasibility Study Progress
Progress in feasibility studies with reputable firms indicates a clear path to project development, potentially accelerating time to market and enhancing competitive positioning.
Negative Factors
Pre-Revenue Status
Being pre-revenue indicates reliance on external funding and poses a risk to financial sustainability until revenue generation begins.
Negative Cash Flow
Persistent negative cash flow suggests ongoing reliance on external financing, which can limit operational flexibility and increase financial risk.
Regulatory Delays
Regulatory delays can hinder project timelines and financial planning, impacting the company's ability to execute its strategic initiatives effectively.

Sarytogan Graphite Limited (SGA) vs. iShares MSCI Australia ETF (EWA)

Sarytogan Graphite Limited Business Overview & Revenue Model

Company DescriptionSarytogan Graphite Limited engages in the exploration of graphite properties. The company holds 100% interest in the Sarytogan Graphite Project comprising an exploration concession, which covers approximately 103.92 square kilometers located in the Karaganda region of Central Kazakhstan. Sarytogan Graphite Limited was incorporated in 2004 and is based in Subiaco, Australia.
How the Company Makes MoneySarytogan Graphite Limited primarily generates revenue through the exploration, development, and eventual sale of graphite extracted from its mining operations. The company's key revenue streams are expected to come from selling graphite products to industries such as electric vehicle manufacturers, battery producers, and other sectors that use graphite in their production processes. The company may also form strategic partnerships with technology firms or manufacturers to secure long-term supply agreements, enhancing its revenue stability. Additionally, Sarytogan Graphite Limited may explore opportunities to monetize its mining expertise and resources through joint ventures or licensing agreements with other mining or industrial companies.

Sarytogan Graphite Limited Financial Statement Overview

Summary
Sarytogan Graphite Limited faces significant financial challenges, particularly in generating revenue and achieving profitability. The income statement shows no revenue and negative margins, while the balance sheet is strong due to no debt but is offset by declining assets. Cash flow is negative, indicating reliance on external financing.
Income Statement
Sarytogan Graphite Limited shows a challenging financial situation with no revenue recorded in recent years, leading to consistent negative net income and EBIT margins. The lack of revenue growth and significant negative profitability margins suggest a weak income statement position.
Balance Sheet
The company maintains a strong equity position with no debt, resulting in a favorable debt-to-equity ratio. However, the total assets have been decreasing over time, raising concerns about asset sustainability. The equity ratio remains robust, indicating stability, yet the decline in stockholders' equity highlights potential long-term risks.
Cash Flow
Operating cash flow remains negative, indicating cash outflows from core operations. Free cash flow is also negative, exacerbated by high capital expenditures. The company has managed to secure financing in the past, but the reliance on external financing for cash needs represents a potential liquidity risk.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue0.000.000.000.004.31K0.00
Gross Profit-2.32K-2.32K-4.78K-2.59K3.97K0.00
EBITDA-1.96M-1.96M-2.43M-2.03M-1.81M9.90K
Net Income-1.01M-1.96M-3.07M-2.04M-1.85M-216.00K
Balance Sheet
Total Assets24.56M24.56M22.07M24.54M3.11M551.22K
Cash, Cash Equivalents and Short-Term Investments1.99M1.99M2.52M7.77M347.57K82.10K
Total Debt0.000.000.000.00833.84K0.00
Total Liabilities341.96K341.96K220.36K144.74K1.51M244.21K
Stockholders Equity24.22M24.22M21.85M24.40M1.60M307.01K
Cash Flow
Free Cash Flow-933.94K-1.85M-5.23M-4.90M-761.29K-15.28K
Operating Cash Flow-932.10K-1.85M-1.53M-2.41M-753.44K-15.28K
Investing Cash Flow-3.55M-3.55M-3.70M-2.17M89.16K0.00
Financing Cash Flow4.86M4.86M0.0011.97M929.75K80.00K

Sarytogan Graphite Limited Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.10
Price Trends
50DMA
0.10
Positive
100DMA
0.11
Positive
200DMA
0.08
Positive
Market Momentum
MACD
<0.01
Negative
RSI
63.92
Neutral
STOCH
55.56
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:SGA, the sentiment is Positive. The current price of 0.1 is below the 20-day moving average (MA) of 0.10, below the 50-day MA of 0.10, and above the 200-day MA of 0.08, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 63.92 is Neutral, neither overbought nor oversold. The STOCH value of 55.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:SGA.

Sarytogan Graphite Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
50
Neutral
AU$53.36M-11.33-15.50%3.79%
49
Neutral
AU$17.33M-3.23-42.91%-4.35%
46
Neutral
AU$19.29M-8.82-8.51%42.51%
43
Neutral
AU$4.41M-1.19-81.85%-58.49%
42
Neutral
AU$36.27M-14.55-31.20%26.67%
41
Neutral
AU$46.15M-7.12-5.81%-67.81%-244.10%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:SGA
Sarytogan Graphite Limited
0.11
0.04
64.06%
AU:LML
Lincoln Minerals Limited
0.02
<0.01
45.45%
AU:EVG
BlackEarth Minerals NL
0.03
<0.01
3.33%
AU:VML
Vital Metals Ltd
0.20
0.14
233.33%
AU:G88
Golden Mile Resources Ltd.
0.01
0.00
0.00%
AU:AR3
Australian Rare Earths Limited
0.23
0.14
147.31%

Sarytogan Graphite Limited Corporate Events

Sarytogan Graphite Extends Deadlines for $5m Capital Raising Amid Regulatory Delays
Dec 19, 2025

Sarytogan Graphite Limited has updated the market on its previously announced capital raisings totalling more than $5 million with investor Dias Sarsenov and the European Bank for Reconstruction and Development, both of which remain contingent on final approvals from Kazakhstan’s Ministry of Industry and Construction. Administrative delays at the ministry and the need for a renewed foreign investment review notification for EBRD have pushed out the completion deadlines to 31 January 2026 for Sarsenov and 30 April 2026 for EBRD, though interim funding from a US$1 million advance by Sarsenov and a recent A$1.8 million placement mean the company is well financed in the near term to progress the definitive feasibility study on its flagship Sarytogan Graphite Project.

Sarytogan Graphite Calls Hybrid General Meeting for January 2026
Dec 18, 2025

Sarytogan Graphite Limited has called a General Meeting of shareholders for 19 January 2026, to be held both physically at its Subiaco, Western Australia office and online via a web-based portal, with meeting documentation available through the company’s website and ASX platform. The notice outlines how shareholders can access materials electronically in line with Australian corporate law, lodge proxy votes online or by traditional channels, and appoint proxies or corporate representatives, underscoring the company’s reliance on digital communication and remote participation to streamline governance and facilitate broader shareholder engagement.

Sarytogan Graphite Sets Hybrid Shareholder Meeting for January 2026
Dec 18, 2025

Sarytogan Graphite Limited has called a hybrid general meeting of shareholders for 19 January 2026 at 10 a.m. WST, to be held both physically in Subiaco, Western Australia, and virtually via an online portal. The company is emphasizing shareholder participation by enabling live virtual attendance with real-time questioning and poll voting, outlining detailed procedures for registering to attend online, casting votes electronically, and appointing proxies, signalling a continued shift toward more flexible and accessible governance practices for its investor base.

Sarytogan Graphite Limited Aligns Financial Year with Subsidiary
Dec 15, 2025

Sarytogan Graphite Limited has announced a change in its financial year, aligning it with its wholly owned subsidiary Ushtogan LLP in Kazakhstan. This adjustment, effective from January 1, 2026, aims to streamline financial operations and reporting. The company has already submitted its annual report for the year ending June 30, 2025, and will provide another for the six-month period ending December 31, 2025. This strategic move may enhance operational efficiency and improve alignment with its subsidiary, potentially impacting stakeholders positively by ensuring more cohesive financial management.

Sarytogan Graphite Director Acquires New Options
Dec 12, 2025

Sarytogan Graphite Limited has announced a change in the director’s interest, with Stephen Penrose acquiring 1.2 million options across three different classes, exercisable at varying prices and expiring in 2029 and 2030. This acquisition, approved by shareholders at the recent AGM, reflects strategic positioning to align director interests with company growth, potentially impacting shareholder value and market perception.

Sarytogan Graphite Limited Reveals Top Option Holders
Dec 11, 2025

Sarytogan Graphite Limited has released a report detailing the top holders of its listed options, which are priced at $0.15 and set to expire on June 3, 2028. The report highlights key stakeholders and their respective holdings, providing insights into the company’s shareholder structure and potential influences on its strategic decisions.

Sarytogan Graphite Limited’s Holdings Concentration in Listed Options
Dec 11, 2025

Sarytogan Graphite Limited has released a holdings range report for its listed options, indicating a total of 10,000,000 units issued. The report reveals that the majority of these options, 91.23%, are held by 37 holders with more than 100,000 units each, while a smaller portion, 8.77%, is distributed among 26 holders with holdings between 10,000 and 100,000 units.

Sarytogan Graphite Limited Announces New Securities Quotation on ASX
Dec 11, 2025

Sarytogan Graphite Limited announced the application for the quotation of new securities on the ASX, with 10,000,000 options exercisable at $0.15 set to expire on June 3, 2028. This move is expected to enhance the company’s financial flexibility and potentially strengthen its market position by attracting new investments.

Sarytogan Graphite Limited Issues New Unlisted Options to Boost Growth
Dec 10, 2025

Sarytogan Graphite Limited has announced the issuance of 11.4 million unlisted options with varying exercise prices and expiration dates, aimed at enhancing its financial flexibility and supporting future growth. This strategic move is expected to strengthen the company’s position in the graphite market, potentially benefiting stakeholders by aligning with the company’s long-term operational goals.

Sarytogan Graphite Secures Power Allocation for Kazakhstan Project
Dec 2, 2025

Sarytogan Graphite Limited has secured the necessary power allocation for its graphite project in Kazakhstan, marking a significant step in mitigating development risks. The Kazakhstan Electricity Grid Operating Company JSC has approved power allocations for both the mine and downstream projects, aligning with the company’s pre-feasibility study estimates. This development ensures a reliable power supply for the project, enhancing its feasibility and strategic positioning in the market.

Sarytogan Graphite Initiates Trading Halt for Capital Raising Announcement
Nov 23, 2025

Sarytogan Graphite Limited has requested a trading halt on its securities pending an announcement regarding a capital raising. The halt will remain in place until the announcement is made or normal trading resumes on 26 November 2025, indicating a strategic move to potentially enhance its financial position.

Sarytogan Graphite Secures Shareholder Support at AGM
Nov 13, 2025

Sarytogan Graphite Limited announced that all resolutions proposed at its Annual General Meeting were successfully passed. This outcome reflects strong shareholder support and may positively impact the company’s strategic initiatives and operational plans, reinforcing its position in the graphite market.

Sarytogan Graphite Completes Reserve Drilling with Promising Results
Nov 10, 2025

Sarytogan Graphite Limited has announced the completion of its Reserve definition drilling campaign at the Sarytogan Graphite Deposit, with significant graphite mineralization reported in all 17 holes of the final batch. These results are set to contribute to a Mineral Resource and Ore Reserve upgrade as part of the ongoing Definitive Feasibility Study, potentially enhancing the company’s operational capabilities and market positioning.

Sarytogan Graphite Limited Announces Proposed Securities Issue
Nov 6, 2025

Sarytogan Graphite Limited has announced a proposed issue of 8,019,764 ordinary fully paid securities, scheduled for December 18, 2025. This move is part of the company’s strategy to enhance its financial position and support its operations, potentially impacting its market presence and offering new opportunities for stakeholders.

Sarytogan Graphite Updates Proposed Securities Issue
Nov 6, 2025

Sarytogan Graphite Limited announced an update regarding its proposed issue of securities, changing the approval and issue dates initially set. This update is part of their ongoing efforts to secure funding through a placement or other type of issue, which could impact their financial operations and market positioning by potentially increasing their capital for future projects.

Sarytogan Graphite Secures Additional $1.4M Investment from EBRD
Nov 6, 2025

Sarytogan Graphite Limited has secured a $1.4 million top-up placement from the European Bank for Reconstruction and Development (EBRD), following a previous $5 million investment. This funding is part of a comprehensive package supporting the company’s Definitive Feasibility Study, which is on track for completion by mid-2026. The placement will increase EBRD’s shareholding in Sarytogan from 17.3% to 19.99%, reflecting confidence in the company’s operations and its strategic positioning in the critical raw materials market.

Sarytogan Graphite Advances Feasibility Studies with New Investments
Oct 30, 2025

Sarytogan Graphite Limited has made significant progress in its graphite and copper projects during the quarter ending September 2025. The company is advancing its Definitive Feasibility Study (DFS) with awarded contracts and ongoing engineering surveys, supported by a new investment from Mr. Sarsenov. The graphite project has seen successful reserve definition drilling and bulk flotation for customer sample generation, while the copper project at Baynazar is refining its exploration with completed drilling and extended trenching. These developments position Sarytogan to enhance its resource base and operational capabilities, potentially impacting its market position positively.

Sarytogan Graphite Advances with Key DFS Contracts
Oct 28, 2025

Sarytogan Graphite Limited has awarded key engineering contracts for its Definitive Feasibility Study (DFS) to global firms Wood and WSP. This strategic move marks significant progress since the Pre-Feasibility Study, setting a clear path towards completing the DFS by mid-2026 and commencing construction in 2027. The involvement of Wood and WSP, both with extensive experience in engineering and resource management, is expected to enhance Sarytogan’s project execution capabilities, potentially strengthening its position in the graphite market and benefiting stakeholders through improved project timelines and resource management.

Sarytogan Graphite Secures US$2.2M Investment to Accelerate Feasibility Study
Oct 21, 2025

Sarytogan Graphite Limited has secured an agreement with Steinhardt Holding NV to advance up to US$2.2 million as part of a previously agreed placement, facilitating the acceleration of its Definitive Feasibility Study (DFS). This funding will enable the timely awarding of key engineering contracts, keeping the DFS on track for mid-2026 completion. The investment is contingent upon approvals from Kazakhstan’s Ministry of Industry and Construction, with the funds to be offset against equity investment once approvals are obtained. This development is crucial for Sarytogan’s operations and its strategic role in the graphite supply chain.

Sarytogan Graphite Advances High-Grade Project with Strategic Support
Oct 19, 2025

Sarytogan Graphite Limited has completed a positive Pre-Feasibility Study for its high-grade graphite project in Kazakhstan, which is supported by the Kazakh government and has been granted European strategic project status. The company plans to proceed with a Definitive Feasibility Study by mid-2026, with construction slated for 2027, potentially enhancing its position in the advanced battery market.

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.Date of analysis: Dec 30, 2025