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Sunshine Gold Ltd
(Sydney:SHN)
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Rating:46Neutral
Price Target:
AU$0.03
â–²(35.00% Upside)
Action:Reiterated
Date:05/29/26
The score is held down primarily by weak financial performance (no revenue, ongoing losses, and sustained cash burn) and limited valuation support (negative P/E, no dividend yield provided). Technicals are a partial offset with price strength and positive MACD, but extremely overbought RSI increases near-term risk.
Positive Factors
Very Low Leverage
Extremely low debt reduces fixed interest obligations and financial distress risk, giving management durable flexibility to fund exploration, capex, or working capital needs from equity or cash. This financial conservatism lowers refinancing risk and supports survival during commodity cycles.
Negative Factors
No Reported Revenue
Zero revenue across multiple years shows the company lacks commercial sales or production, meaning losses stem from non-revenue-generating operations. Structurally, this forces reliance on external funding rather than operating cash flow, making the business model fragile without a clear revenue plan.
Read all positive and negative factors
Positive Factors
Negative Factors
Very Low Leverage
Extremely low debt reduces fixed interest obligations and financial distress risk, giving management durable flexibility to fund exploration, capex, or working capital needs from equity or cash. This financial conservatism lowers refinancing risk and supports survival during commodity cycles.
Read all positive factors
Sunshine Gold Ltd (SHN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$100.67M
Dividend YieldN/A
Average Volume (3M)14.99M
Price to Earnings (P/E)―
Beta (1Y)2.45
Revenue GrowthN/A
EPS Growth82.14%
CountryAU
Employees961
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding3,595,329,000
10 Day Avg. Volume17,594,839
30 Day Avg. Volume14,990,236
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)1.21
Price to Sales (P/S)0.00
P/FCF Ratio-3.49
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Sunshine Gold Ltd Business Overview & Revenue Model
Company Description
Sunshine Metals Limited engages in the exploration and development of mineral projects in Australia. The company explores for copper, gold, zinc, lead, and silver, as well as molybdenite and base metal deposits. It holds 100% interest in the Raven...
How the Company Makes Money
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Sunshine Gold Ltd Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
58
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 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 | -1.61M | -1.41M | -6.81M | -2.18M | -1.49M | -1.30M |
| Net Income | -3.10M | -2.27M | -6.93M | -3.49M | -1.67M | -1.06M |
Balance Sheet | ||||||
| Total Assets | 23.59M | 18.04M | 17.29M | 16.74M | 12.44M | 7.22M |
| Cash, Cash Equivalents and Short-Term Investments | 4.65M | 1.92M | 3.39M | 3.33M | 1.85M | 2.19M |
| Total Debt | 85.69K | 122.18K | 86.46K | 185.97K | 268.29K | 27.46K |
| Total Liabilities | 2.43M | 2.56M | 2.58M | 2.12M | 982.28K | 202.50K |
| Stockholders Equity | 21.16M | 15.48M | 14.71M | 14.62M | 11.45M | 7.02M |
Cash Flow | ||||||
| Free Cash Flow | -6.11M | -5.34M | -6.86M | -5.17M | -5.14M | -2.69M |
| Operating Cash Flow | -1.61M | -837.66K | -713.42K | -1.23M | -1.03M | -1.12M |
| Investing Cash Flow | -5.76M | -3.48M | -6.17M | -3.80M | -4.15M | -489.56K |
| Financing Cash Flow | 8.63M | 2.84M | 6.95M | 6.50M | 4.84M | 1.71M |
Sunshine Gold Ltd Peers Comparison
UnderperformOutperform
Sector (61)
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% | |
59 Neutral | AU$55.49M | 5.05 | 20.22% | ― | ― | ― | |
51 Neutral | AU$63.24M | 1,950.00 | -1.33% | ― | ― | ― | |
49 Neutral | AU$40.68M | 21.67 | -6.35% | ― | ― | -1100.00% | |
46 Neutral | AU$100.67M | -28.00 | -16.95% | ― | ― | 82.14% | |
44 Neutral | AU$45.14M | -3.81 | -29.24% | ― | ― | -43.78% | |
| ― | AU$34.79M | -1,261.98 | -0.21% | ― | ― | -77.34% |
* Basic Materials Sector Average
AU:SHN
Sunshine Gold Ltd
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Sunshine Gold Ltd Corporate Events
Sunshine Metals Issues 35 Million Unlisted Options to Support Capital Strategy
Jun 26, 2026
Sunshine Metals Limited has notified the market of the issuance of 35 million unlisted options, each exercisable at $0.0405 and expiring on 26 June 2029, under an existing Appendix 3B framework. These options will not be quoted on the ASX, indicat...
Sunshine Metals Director Increases Stake via Placement Participation
Jun 26, 2026
Sunshine Metals Limited has reported a change in director Fred White’s indirect holdings in the company, reflecting his participation in the second tranche of a placement. Through Back Step Investments Pty Ltd, White increased his stake by a...
Sunshine Metals Issues 77.8 Million New Shares Under Approved Placement
Jun 25, 2026
Sunshine Metals Limited has issued 77,777,779 fully paid ordinary shares under the second tranche of a placement approved by shareholders at a recent general meeting. The new shares, which form part of an existing ASX-quoted class, were issued wit...
Sunshine Metals Seeks ASX Quotation for 77.8 Million New Shares
Jun 25, 2026
Sunshine Metals Limited has applied for the quotation of 77,777,779 ordinary fully paid shares on the ASX, with an issue date of June 26, 2026. The application, lodged as a new announcement under Appendix 2A of the ASX Listing Rules, formalizes th...
Sunshine Metals Wins Shareholder Backing for Major Placement Approvals
Jun 22, 2026
Shareholders of Sunshine Metals Limited have approved all resolutions put forward at the company’s general meeting, ratifying prior share issues made under a placement and authorising additional share issuances. The approvals include the rat...
Sunshine Metals Seeks ASX Quotation for New Share Issue
Jun 9, 2026
Sunshine Metals Limited has applied for quotation on the ASX of 4,081,189 ordinary fully paid shares, following the exercise of options or conversion of other securities. The new shares, issued on June 9, 2026, expand the company’s quoted ca...
Sunshine Metals Sells Hodgkinson Project to Refocus on Mt Moss and Liontown
Jun 9, 2026
Sunshine Metals has agreed to sell its non-core Hodgkinson Project in Queensland to EQ Resources for total cash proceeds of $250,000, with completion expected by August 2026 subject to regulatory and third-party approvals. The transaction will see...
EQ Resources buys Hodgkinson tenements to bolster Mt Carbine tungsten hub
Jun 9, 2026
EQ Resources has agreed to acquire the Hodgkinson tenement package from Sunshine (Triumph) Pty Ltd, a Sunshine Metals subsidiary, in a deal valued at A$250,000. The package comprises six exploration permits adjacent to EQR’s Mt Carbine tungs...
Sunshine Metals Director Lifts Stake via Share Purchase Plan
May 28, 2026
Sunshine Metals Limited has disclosed changes in the holdings of director Alec Christopher Pismiris, who increased his relevant interest in the company through associated entities. The additional fully paid ordinary shares were acquired for $30,00...
Sunshine Metals Seeks ASX Quotation for Newly Issued Securities
May 27, 2026
Sunshine Metals Limited has lodged an Appendix 2A with the ASX, applying for quotation of a new batch of securities that have already been issued as part of a previously announced transaction. The new securities, issued on 28 May 2026 and flagged ...
Sunshine Metals Raises $7.7m in Oversubscribed SPP to Accelerate Mt Moss and Liontown Plans
May 27, 2026
Sunshine Metals has closed its Share Purchase Plan with applications totaling $7.7 million, far exceeding the original $3 million target, and will issue approximately 285 million new shares without scaling back investor participation. Combined wit...
Sunshine Metals Calls June 2026 Meeting to Ratify Major Share Placement
May 22, 2026
Sunshine Metals Limited has called a general meeting of shareholders for 22 June 2026 in Townsville to consider a series of capital-raising related resolutions. Eligible shareholders as at 3:00pm AEST on 20 June 2026 will vote on whether to ratify...
Sunshine Metals posts high-grade Liontown assays and advances funding for production push
May 12, 2026
Sunshine Metals has reported strong final assay results from a 30-hole resource definition drilling program at the Liontown Gold Panel within its Ravenswood project, including standout intercepts such as 22 metres at 20.25 grams per tonne gold. Th...
Sunshine Metals launches A$3m share plan to fund gold and base metals exploration
May 8, 2026
Sunshine Metals has opened a share purchase plan to raise up to A$3 million at A$0.027 per share, offering eligible Australian and New Zealand shareholders the chance to subscribe for up to A$30,000 of stock without brokerage, on the same terms as...
Sunshine Metals Seeks ASX Quotation for Additional Shares
May 8, 2026
Sunshine Metals Limited has applied for the quotation of 2,333,333 new ordinary fully paid shares on the Australian Securities Exchange, with an issue date of 8 May 2026. The new shares arise from the exercise or conversion of existing options or ...
Sunshine Metals Seeks ASX Quotation for 625.9 Million New Shares
May 8, 2026
Sunshine Metals Limited has applied to the ASX for quotation of 625,925,925 ordinary fully paid shares, with an issue date of 8 May 2026, under its ticker SHN. The substantial new share quotation will materially expand the company’s listed s...
Sunshine Metals reinforces JORC-backed resource base across Queensland portfolio
May 7, 2026
Sunshine Metals has outlined the technical basis for its Queensland resource portfolio, detailing how gold, copper, zinc, lead and silver are modelled and reported across its Liontown, Waterloo, Orient, Plateau and Sybil projects. The company emph...
Sunshine Metals Seeks ASX Quotation for 22.6 Million New Shares
May 1, 2026
Sunshine Metals Limited has applied to the ASX for quotation of 22,576,689 new ordinary fully paid shares, to be issued and tradable from 1 May 2026. The securities arise from the exercise or conversion of existing options or other convertible ins...
Sunshine Metals Plans Major Share and Option Issue to Raise Capital
Apr 30, 2026
Sunshine Metals Limited has notified the ASX of a proposed capital raising through a placement or similar issue structure, outlining plans to issue up to 703,703,704 new fully paid ordinary shares. The company will also create a new class of unlis...
Sunshine Metals Details Resource Basis and Growth Plans for Queensland Projects
Apr 30, 2026
Sunshine Metals Ltd has outlined its growth plans around its Queensland projects, highlighting the large-scale potential of its Liontown and Plateau systems and the metallurgical assumptions underpinning its zinc-equivalent resource calculations. ...
Sunshine Metals Buys Mt Moss Plant and Raises $22m to Fast-Track Gold Production
Apr 30, 2026
Sunshine Metals has agreed to acquire 100% of the Mt Moss Operation in Queensland for $18 million, securing a 300,000 tonne-per-annum processing plant and extensive infrastructure near its Sybil and Liontown deposits. The company is also raising $...
Sunshine Metals Halts Trading Ahead of Asset Deal and Capital Raising
Apr 28, 2026
Sunshine Metals Limited has requested a voluntary trading halt on its securities on the ASX, effective from 28 April 2026, while it prepares a market announcement. Trading is expected to resume no later than the start of normal trading on 30 April...
Sunshine Metals Maintains Strong Cash Position Amid Ongoing Exploration Spend
Apr 26, 2026
Sunshine Metals reported a modest positive operating cash flow of A$357,000 for the March 2026 quarter, driven by interest income and a one-off royalty-related dividend, while administrative and corporate costs remained the main cash outflows. The...
Sunshine Metals advances Ravenswood project with robust Liontown study and high-grade drilling
Apr 26, 2026
Sunshine Metals reported continued progress at its Ravenswood Consolidated Project for the quarter to 31 March 2025, highlighted by a mining study over the shallow Liontown gold deposit. The study outlined an initial production target of about 75,...
Sunshine Metals Hits Further High-Grade Gold as Liontown Resource Upgrade Nears
Apr 20, 2026
Sunshine Metals reported final assay results from a 121-hole reverse circulation grade control drilling program at the proposed Liontown open pit, confirming shallow high-grade gold and silver mineralisation that underpins mine planning and a fort...
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.