Top Page
Sunshine Gold Ltd
(Sydney:SHN)
Sunshine Gold Ltd (SHN) vs. iShares MSCI Australia ETF (EWA)
Sunshine Gold Ltd Business Overview & Revenue Model
Sunshine Gold Ltd Financial Statement Overview
| 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 | -80.30K | -80.30K | -122.00K | -1.31M | -390.00K | -8.54K |
| EBITDA | -678.00 | -1.41M | -6.81M | -2.18M | -1.49M | -1.30M |
| Net Income | -2.27M | -2.27M | -6.93M | -3.49M | -1.67M | -1.06M |
Balance Sheet | ||||||
| Total Assets | 18.04M | 18.04M | 17.29M | 16.74M | 12.44M | 7.22M |
| Cash, Cash Equivalents and Short-Term Investments | 1.92M | 1.92M | 3.39M | 3.33M | 1.85M | 2.19M |
| Total Debt | 122.18K | 122.18K | 86.46K | 185.97K | 268.29K | 27.46K |
| Total Liabilities | 2.56M | 2.56M | 2.58M | 2.12M | 982.28K | 202.50K |
| Stockholders Equity | 15.48M | 15.48M | 14.71M | 14.62M | 11.45M | 7.02M |
Cash Flow | ||||||
| Free Cash Flow | -5.34M | -5.34M | -6.86M | -5.17M | -5.14M | -2.69M |
| Operating Cash Flow | -837.66K | -837.66K | -713.42K | -1.23M | -1.03M | -1.12M |
| Investing Cash Flow | -3.48M | -3.48M | -6.17M | -3.80M | -4.15M | -489.56K |
| Financing Cash Flow | 2.84M | 2.84M | 6.95M | 6.50M | 4.84M | 1.71M |
Sunshine Gold Ltd Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | AU$65.10M | -10.94 | -19.61% | ― | ― | 42.65% | |
52 Neutral | AU$41.49M | 3.79 | -0.34% | ― | ― | -100.38% | |
50 Neutral | AU$59.63M | 97.37 | 4.75% | ― | ― | ― | |
49 Neutral | AU$62.56M | -18.18 | -5.89% | ― | ― | 59.26% | |
46 Neutral | AU$92.79M | -27.69 | -15.05% | ― | ― | 76.36% | |
34 Underperform | AU$78.73M | -4.26 | -440.50% | ― | ― | -61.06% |
Sunshine Gold Ltd Corporate Events
Sunshine Metals has reported further exceptional near-surface gold and silver intercepts from its reverse circulation grade control drilling at the Liontown deposit, including multiple thick, high-grade intervals that in several cases outperform the existing resource model. The company has now completed 82 of 121 planned holes over the shallow gold resource, with assays from most holes received, and expects these strong results to significantly upgrade both the current 108,000-ounce gold and 803,000-ounce silver resource and the initial Liontown Mining Study, which remains on track for completion and subsequent update in early 2026, potentially enhancing mine planning, open-pit economics and toll treatment discussions.
The most recent analyst rating on (AU:SHN) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Sunshine Gold Ltd stock, see the AU:SHN Stock Forecast page.
Sunshine Metals Limited reported its quarterly cash flow for the period ended 31 December 2025, highlighting continued investment in exploration and evaluation activities and a modest operating cash outflow. The company recorded net operating cash outflows of A$358,000 for the quarter, driven mainly by administration and corporate costs, while investing activities used A$1.25 million, largely due to A$1.50 million spent on exploration and evaluation offset partly by A$327,000 in proceeds from investments. Financing activities were a key source of liquidity, delivering A$1.20 million in net cash inflows for the quarter, primarily from A$1.09 million raised through the exercise of options, which helped lift the company’s cash balance from A$5.06 million at the beginning of the period despite negative operating and investing cash flows. The cash flow profile underscores Sunshine Metals’ reliance on equity funding to support its exploration-led growth strategy, a typical pattern for early-stage resource companies that are yet to transition to production and cash-generating operations.
The most recent analyst rating on (AU:SHN) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Sunshine Gold Ltd stock, see the AU:SHN Stock Forecast page.
Sunshine Metals reported a 14% increase in the shallow gold resource at its Liontown deposit to 108,000 ounces, with an advanced mining study now evaluating 0.8 million tonnes at 4.3 grams per tonne gold plus significant silver credits, underpinning the company’s goal of first production in 2026 from the Ravenswood Consolidated Project. The quarter also delivered outstanding high-grade results from diamond drilling at the Sybil (Francis Creek) prospect, identification of seven high-priority VMS conductors from a government‑supported VTEM Max survey, and strong near-surface gold and silver grade-control intercepts at Liontown, collectively reinforcing Sunshine’s strategy to fast-track low-capex cash flow and strengthen its position in the North Queensland gold and base metals sector.
The most recent analyst rating on (AU:SHN) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Sunshine Gold Ltd stock, see the AU:SHN Stock Forecast page.
Sunshine Metals has received $634,302 as a first and final dividend from the liquidation of Pluton Resources, relating to long-outstanding royalty payments on iron ore shipments from the Cockatoo Island Project made in the 2015 financial year. The funds will be directed into ongoing exploration at Sunshine’s Sybil epithermal gold targets and the Liontown gold study, providing a non-dilutive cash boost that supports project advancement and potentially strengthens the company’s exploration momentum in its core Queensland assets.
The most recent analyst rating on (AU:SHN) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Sunshine Gold Ltd stock, see the AU:SHN Stock Forecast page.
Sunshine Metals has reported a new batch of high-grade near-surface gold and silver intercepts from 30 reverse circulation grade-control holes at the Liontown deposit, including some of the highest silver grades recorded at the project. The company has now completed 68 of a planned 84 holes and, on the back of these results, has expanded the program by about 37 additional holes to test the open eastern extent of the shallow oxide resource. The drilling is expected to refine mine planning and support potential toll-treatment discussions, while the ongoing Gold Mining Study for Liontown remains on track for completion in January 2026 and is being updated to incorporate the newly defined high-grade silver zones as Sunshine targets first gold and silver production in 2026.
The most recent analyst rating on (AU:SHN) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Sunshine Gold Ltd stock, see the AU:SHN Stock Forecast page.
Sunshine Metals Limited has issued 2,500,000 fully paid ordinary shares following the exercise of options, without the need for disclosure under the Corporations Act. The company has complied with all relevant legal requirements and there is no excluded information to disclose. Additionally, the company is conducting infill grade control drilling at its Liontown Project, but results are not yet available for public disclosure.
Sunshine Metals Limited has announced the quotation of 2,500,000 fully paid ordinary securities on the ASX, effective December 10, 2025. This move is part of the company’s strategy to enhance its market presence and provide additional value to its stakeholders through the conversion of options or other convertible securities.
Sunshine Metals Limited has identified seven high-priority conductive anomalies at its Ravenswood Consolidated Project through a VTEM Max survey, funded by a grant from the Queensland Government. The survey has revealed a promising gold target at Truncheon East, with soil samples showing gold concentrations of up to 8.45g/t. This discovery marks a significant development for Sunshine Metals, as it enhances their exploration pipeline and positions them favorably within the Charters Towers district, with plans for further exploration in 2026.
Sunshine Metals Limited has announced a significant upgrade to its Liontown shallow gold resource, increasing it by 14% to 108,000 ounces. This upgrade, resulting from successful infill drilling, enhances the company’s resource confidence and supports ongoing discussions with potential partners. The mining study, which includes geotechnical and environmental assessments, is on track for completion in January 2026, positioning Sunshine Metals to commence gold production in 2026.
Sunshine Metals Limited announced that the Supreme Court of Western Australia has granted orders to rectify an oversight regarding the non-issuance of a cleansing notice for a recent share issue. This administrative error, which was identified by the company, led to a review and subsequent enhancement of its governance and compliance practices, including the adoption of a new Quoted Securities Issuance Policy. The company aims to prevent future non-compliance and ensure adherence to statutory and ASX Listing Rule obligations, with trading of its securities expected to resume shortly.
Sunshine Metals Limited has requested a voluntary suspension of its securities from trading on the Australian Securities Exchange. This suspension is pending the outcome of a Supreme Court application regarding a procedural oversight related to the issuance of shares. The suspension will remain until the company releases an announcement or trading resumes on November 24, 2025.
Sunshine Metals Limited has requested a trading halt on its securities pending a court application related to a compliance issue. The halt will remain until the company announces the court’s decision or trading resumes on November 21, 2025, potentially impacting investor confidence and market operations.
Sunshine Metals Limited has issued 3,972,584 fully paid ordinary shares following the exercise of options, without the need for disclosure under Part 6D.2 of the Corporations Act. This move allows the company to facilitate the on-sale of these shares under an exemption, pending approval from the Supreme Court of Western Australia, ensuring compliance with relevant legal provisions and maintaining transparency for stakeholders.
Sunshine Metals Limited has announced the issuance of 9,111,110 fully paid ordinary shares following the exercise of options, without the need for disclosure under the Corporations Act. This move indicates the company’s compliance with relevant legal provisions and suggests a strategic step to enhance its capital structure, potentially impacting its market positioning and offering new opportunities for stakeholders.
Sunshine Metals Limited has announced the issuance of 9,111,111 fully paid ordinary securities, which will be quoted on the ASX starting November 17, 2025. This move is part of the company’s strategy to enhance its market presence and potentially increase its shareholder base, reflecting a significant step in its operational and financial growth.
Sunshine Gold Ltd has announced the final results of its diamond drilling program at the Sybil site, part of the Ravenswood Consolidated Project. The program revealed significant gold mineralization in 12 out of 14 drill holes, including a notable 4.5 meters at 17.23g/t Au. These results confirm the potential for high-grade gold zones, with further exploration planned following heritage clearances and magnetic surveys. The company is also preparing to resume drilling at Liontown, aiming to advance shallow mineralization to mining readiness.
Sunshine Gold Ltd, operating under the ASX ticker SHN, is focused on mineral exploration and development, particularly in Queensland, Australia. The company is involved in projects with significant potential for gold and copper resources, as well as zinc, lead, and silver. The recent announcement highlights the company’s exploration results and resource estimates at various sites, including Liontown, Waterloo, and Orient. These findings underscore Sunshine Gold’s strategic focus on expanding its mineral resource base, which could enhance its market position and provide potential value to stakeholders.
Sunshine Metals Limited has announced a change in the director’s interest notice involving Damien Leslie Keys. The change includes the acquisition of 15,000,000 options exercisable at $0.018 expiring on 4 November 2028 and 1,250,000 fully paid ordinary shares, while 9,606,060 options exercisable at $0.03 expiring on 30 September 2025 were disposed of. This adjustment in securities reflects strategic decisions made during the company’s Annual General Meeting, potentially impacting the company’s financial structure and stakeholder interests.
Sunshine Metals Limited has announced the issuance of 39,000,000 unlisted options, exercisable at $0.018, set to expire on November 4, 2028. This move, part of previously announced transactions, is a strategic step to enhance the company’s financial flexibility and potentially strengthen its market position by attracting investment.
Sunshine Metals Limited has announced the issuance of 22,099,120 fully paid ordinary shares, which includes shares issued through the exercise of options and a placement to directors approved at the recent Annual General Meeting. This move, executed without disclosure under Part 6D.2 of the Corporations Act, aligns with the company’s compliance with relevant legal provisions and indicates a strategic effort to enhance its capital structure.
Sunshine Metals Limited has announced the quotation of 10,515,786 fully paid ordinary securities on the ASX, effective November 4, 2025. This move is part of the company’s strategy to enhance its financial flexibility and potentially improve its market position, offering stakeholders an opportunity to engage with the company’s growth trajectory.
Sunshine Metals Limited has announced the cessation of Paul Ian Chapman as a director effective October 31, 2025. The final director’s interest notice reveals that Chapman holds 4,000,000 options exercisable at $0.0225 expiring in June 2027, and through Stone Poneys Nominees Pty Ltd, he holds 64,758,031 fully paid ordinary shares and 2,222,222 options exercisable at $0.015 expiring in May 2027. This change in directorship may impact the company’s strategic direction and stakeholder interests, given Chapman’s significant holdings in the company.
Sunshine Metals Limited announced that all resolutions proposed at its Annual General Meeting were successfully passed. Key resolutions included the re-election of directors, ratification of share and option issuances, and approvals for the issuance of additional securities under the Employee Incentive Securities Plan. These decisions are expected to strengthen the company’s governance and support its strategic growth initiatives.
Sunshine Gold Ltd has announced significant progress in its operations over the past year, including a 42% increase in its base metals and gold resources and substantial advancements in exploration activities. The company has also undergone a strategic transition with a focus on Queensland, appointing new board members with strong local ties and divesting non-core assets. These developments are expected to enhance Sunshine Gold’s market position and contribute to the economic growth of the region.