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Sultan Resources Ltd. (AU:SLZ)
ASX:SLZ
Australian Market

Sultan Resources Ltd. (SLZ) AI Stock Analysis

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AU:SLZ

Sultan Resources Ltd.

(Sydney:SLZ)

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Neutral 44 (OpenAI - 5.2)
Rating:44Neutral
Price Target:
AU$0.01
▲(0.00% Upside)
The score is weighed down primarily by weak financial performance: inconsistent revenue, persistent losses with a major deterioration in 2025, and ongoing negative operating/free cash flow alongside shrinking equity. Valuation also lacks support due to a negative P/E and no dividend yield data. Technical analysis has limited impact because key indicators were not provided, resulting in a neutral technical contribution.
Positive Factors
Debt-Free Balance Sheet
A debt-free balance sheet reduces refinancing and interest-rate risk, providing financial flexibility to invest in growth opportunities.
Strategic Expansion
Acquiring new projects in Namibia and Western Australia positions the company for growth in the gold and critical minerals sector, enhancing its market position.
Capital Raising
The successful capital raising enhances the company's exploration capabilities and strengthens its financial position for future growth initiatives.
Negative Factors
Inconsistent Revenue
Inconsistent revenue makes it difficult to achieve scale and operating leverage, hindering long-term profitability and financial stability.
Persistent Losses
Ongoing losses indicate challenges in achieving profitability, which can strain resources and limit the ability to fund future projects.
Negative Cash Flow
Negative cash flow suggests reliance on external funding, which can be unsustainable and limit operational flexibility over time.

Sultan Resources Ltd. (SLZ) vs. iShares MSCI Australia ETF (EWA)

Sultan Resources Ltd. Business Overview & Revenue Model

Company DescriptionSultan Resources Limited explores for and develops mineral properties in Australia. It primarily explores for gold, copper, nickel, and cobalt deposits. The company holds interest in the Lachlan fold belt project comprising granted exploration licenses EL8734, EL8704, and EL8735, which covering a total area of approximately 330 square kilometers located in Central New South Wales; the East Tallering project comprising one granted tenement covering 67 square kilometers located to the northeast of Geraldton, Western Australia; and the Dalwallinu project that covers an area of 167 square kilometers located to the northeast of Perth, Western Australia. It also holds interest in the Thaduna project comprising two granted tenements covering 22 square kilometers located to the northeast of Meekatharra; and the Lake Grace project comprising five tenement applications covering 690 square kilometers located to the southeast of Perth, Western Australia. Sultan Resources Limited was incorporated in 2018 and is based in Subiaco, Australia.
How the Company Makes MoneySultan Resources Ltd. generates revenue primarily through the exploration and eventual sale or joint venture of mineral deposits. The company invests in early-stage exploration projects, aiming to discover commercially viable mineral resources. Once significant mineral deposits are identified, Sultan Resources may either sell these assets to larger mining companies or enter into joint ventures or partnerships to develop the resources further. Additionally, they might earn income through strategic alliances and the sale of non-core assets, leveraging their expertise in mineral exploration to create value from their portfolio.

Sultan Resources Ltd. Financial Statement Overview

Summary
Sultan Resources Ltd. faces significant financial challenges, including declining revenue and persistent losses. While its balance sheet is strong with no debt, negative cash flow and operational inefficiencies are major concerns.
Income Statement
Sultan Resources Ltd. has experienced significant challenges in revenue generation, with a declining trend in revenue from 2020 to 2024, hitting zero in the most recent year. Gross profit margin is non-existent given there is no revenue, and net income remains negative, indicating ongoing losses. EBIT and EBITDA margins are also negative, reflecting operational inefficiencies. The company's financial performance is weak, showing no signs of improvement in revenue or profitability.
Balance Sheet
The company's balance sheet shows a strong equity position with no debt, resulting in a favorable debt-to-equity ratio. The equity ratio is high, indicating a stable financial structure. However, the continuous net losses are a concern for future equity growth. Despite strong equity, the lack of revenue growth poses risks to sustaining this stability.
Cash Flow
Operating cash flow has consistently been negative, which raises concerns about the company's ability to generate sufficient cash from its core operations. The company has a negative free cash flow, despite positive financing cash flow activities. The free cash flow to net income ratio indicates further challenges in cash management, suggesting reliance on external financing to sustain operations.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue22.55K0.000.0025.00K0.0015.50K
Gross Profit22.55K0.000.0025.00K0.0015.50K
EBITDA-712.71K-5.47M-820.85K-1.73M-623.66K-888.85K
Net Income-753.50K-5.47M-876.68K-1.76M-986.98K-888.85K
Balance Sheet
Total Assets9.71M4.82M9.82M10.12M7.68M6.75M
Cash, Cash Equivalents and Short-Term Investments336.22K81.75K584.70K1.35M1.62M1.55M
Total Debt0.000.000.000.000.000.00
Total Liabilities93.84K389.52K239.22K161.30K127.67K199.00K
Stockholders Equity9.61M4.43M9.58M9.96M7.56M6.55M
Cash Flow
Free Cash Flow-1.10M-502.26K-1.34M-1.65M-1.92M-2.65M
Operating Cash Flow-727.61K-502.26K-758.63K-829.50K-680.58K-730.03K
Investing Cash Flow-374.12K-318.69K-582.62K-817.95K-1.24M-1.92M
Financing Cash Flow897.92K318.00K579.92K1.37M1.99M2.20M

Sultan Resources Ltd. 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%
44
Neutral
AU$7.61M-0.50-78.12%-349.06%
44
Neutral
AU$40.85M-12.00-106.64%-36.36%
44
Neutral
AU$2.85M-65.57%-200.00%
44
Neutral
AU$23.95M-51.61
44
Neutral
AU$5.98M-4.58-38.30%61.60%
43
Neutral
AU$7.70M-0.60-190.23%47.88%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:SLZ
Sultan Resources Ltd.
0.01
<0.01
20.00%
AU:MRD
Mount Ridley Mines Limited
0.04
0.02
191.67%
AU:AOA
Ausmon Resources Limited
AU:RIE
Riedel Resources Limited
0.04
<0.01
12.90%
AU:KLR
Kaili Resources Limited
0.16
0.11
287.50%
AU:AIV
ActivEX Limited
0.02
0.01
100.00%

Sultan Resources Ltd. Corporate Events

Sultan Resources Completes Major Share and Option Placement
Dec 5, 2025

Sultan Resources Ltd has announced the completion of a significant placement involving the issuance of 48,841,543 fully paid ordinary shares and 91,111,111 listed options. This move, previously announced in October 2025, was executed without disclosure to investors under specific provisions of the Corporations Act. The company has confirmed compliance with relevant legal requirements and stated there is no excluded information needing disclosure. This strategic financial maneuver is likely to impact the company’s capital structure and market positioning.

Sultan Resources Ltd. Announces Director’s Interest Change
Dec 5, 2025

Sultan Resources Ltd. announced a change in the director’s interest, specifically involving Mr. Lincoln Xi Victor Liu, who acquired performance rights through his associations with Wynton Capital Pty Ltd and Bay Financial Pty Ltd. These rights, which are part of an incentive plan approved by shareholders, aim to motivate and reward Mr. Liu, reflecting the company’s strategy to align director interests with shareholder value.

Sultan Resources Ltd Announces New Securities Quotation on ASX
Dec 5, 2025

Sultan Resources Ltd has announced the quotation of new securities on the Australian Securities Exchange (ASX), including 91,111,111 options expiring on March 12, 2027, and 48,841,543 fully paid ordinary shares. This move is part of previously announced transactions and is expected to enhance the company’s capital structure, potentially impacting its operational capabilities and market positioning.

Sultan Resources Cancels Proposed Securities Issue
Nov 26, 2025

Sultan Resources Ltd announced the cancellation of a previous proposal to issue securities due to the failure of a resolution at the Annual General Meeting. This decision impacts the company’s plans to issue consideration shares to Aldoro, affecting its strategic financial maneuvers and potentially altering stakeholder expectations.

Sultan Resources AGM Results: Key Resolution Not Carried
Nov 26, 2025

Sultan Resources Ltd. announced the results of its Annual General Meeting, where all resolutions were carried except for the approval to issue shares to Aldoro Resources Ltd. This decision affects the company’s previously announced acquisition of projects in Namibia and Western Australia. Despite this setback, Sultan Resources remains committed to pursuing value-accretive opportunities that align with its focus on critical minerals and gold, aiming to enhance shareholder value.

Wynton Capital Ceases to be a Substantial Holder in Sultan Resources
Nov 3, 2025

Sultan Resources Ltd. has announced that Wynton Capital Pty Ltd has ceased to be a substantial holder in the company as of October 21, 2025. This change is attributed to a dilution caused by a Rights Issue and Shortfall Placement, affecting 16,941,721 ordinary shares. The announcement signifies a shift in shareholder composition, which may influence the company’s strategic decisions and market perception.

Sultan Resources Expands with New Gold and Mineral Projects
Oct 31, 2025

Sultan Resources Ltd. announced its intention to acquire three significant gold and critical minerals projects in Namibia and Western Australia, including the Damara Gold Project in Namibia and the Niobe and Narndee projects in Western Australia. The company has secured funding through a strategic placement, positioning it well to complete these acquisitions and advance its strategic growth initiatives, potentially enhancing its market position and offering new opportunities for stakeholders.

Sultan Resources Announces Annual General Meeting Details
Oct 24, 2025

Sultan Resources Ltd. has announced its upcoming Annual General Meeting, scheduled for November 26, 2025, in Subiaco, Western Australia. The company is encouraging shareholders to participate by voting online or submitting proxy forms ahead of the meeting. The meeting will include a poll for all resolutions, and any changes to the arrangements will be communicated via the company’s website.

Sultan Resources Ltd. Announces Key Resolutions for Upcoming AGM
Oct 24, 2025

Sultan Resources Ltd. has announced its Annual General Meeting scheduled for November 26, 2025, where shareholders will vote on several key resolutions. These include the adoption of the Remuneration Report, the election of directors Lincoln Liu and Mark Mitchell, approval of a 7.1A mandate for issuing equity securities, issuance of shares to Aldoro Resources, and an increase in the maximum securities under the company’s Employee Securities Incentive Plan. These resolutions are significant for the company’s governance and future financial strategies, potentially impacting shareholder value and the company’s market positioning.

Sultan Resources Completes Tranche 1 Share Placement
Oct 21, 2025

Sultan Resources Ltd has completed the issuance of 73,380,679 fully paid ordinary shares at an issue price of $0.009 per share as part of its Tranche 1 Placement. This move, announced earlier in October, was executed without disclosure to investors under Part 6D.2 of the Corporations Act. The company has affirmed its compliance with relevant provisions of the Corporations Act and confirmed that there is no excluded information that needs to be disclosed.

Sultan Resources Expands Securities Issuance
Oct 21, 2025

Sultan Resources Ltd has announced an update to its previous securities issue, increasing the placement size from 111,111,111 shares and 55,555,555 options to 122,222,222 shares and 61,111,111 options. The Lead Manager options have also been increased from 25 million to 30 million SLZO options. The first tranche of shares issued is 73,380,679, with the remaining balance subject to shareholder approval. This expansion in securities issuance may enhance the company’s capital base and potentially strengthen its market position.

Sultan Resources Expands Capital Raising to $1.1 Million
Oct 21, 2025

Sultan Resources Ltd has announced an increase in its placement size, receiving an additional $100,000 from sophisticated investors, bringing the total proposed funds to $1.1 million. This capital will be raised through the issuance of 122,222,222 placement shares and 61,111,111 placement options, with a portion subject to shareholder approval at the upcoming annual general meeting. This financial maneuver is part of Sultan’s broader strategy to enhance its exploration capabilities and strengthen its position in the 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