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Star Minerals Ltd.
(Sydney:SMS)
Star Minerals Ltd. (SMS) vs. iShares MSCI Australia ETF (EWA)
Star Minerals Ltd. Business Overview & Revenue Model
Star Minerals Ltd. Financial Statement Overview
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 5.22K | 0.00 | 202.34K | 0.00 | 0.00 |
| Gross Profit | -722.27K | 0.00 | 202.34K | 0.00 | 0.00 |
| EBITDA | -1.90M | -853.08K | -1.17M | -795.76K | 0.00 |
| Net Income | -1.90M | -857.63K | -1.17M | -795.98K | -45.33K |
Balance Sheet | |||||
| Total Assets | 7.76M | 6.59M | 6.41M | 7.80M | 241.26K |
| Cash, Cash Equivalents and Short-Term Investments | 1.18M | 435.16K | 784.03K | 2.97M | 240.39K |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 11.92K |
| Total Liabilities | 291.54K | 138.51K | 215.46K | 487.58K | 254.77K |
| Stockholders Equity | 7.47M | 6.46M | 6.19M | 7.32M | -13.51K |
Cash Flow | |||||
| Free Cash Flow | -1.58M | -1.18M | -2.19M | -1.79M | -24.38K |
| Operating Cash Flow | -1.34M | -1.11M | -1.82M | -678.13K | -24.38K |
| Investing Cash Flow | -240.37K | -67.31K | -371.21K | -1.11M | -3.00 |
| Financing Cash Flow | 2.32M | 827.74K | 0.00 | 4.53M | 745.56K |
Star Minerals Ltd. Technical Analysis
Star Minerals 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% | |
51 Neutral | ― | ― | ― | ― | ― | ― | |
51 Neutral | AU$7.73M | -3.05 | -127.51% | ― | 168.85% | 13.51% | |
46 Neutral | AU$7.72M | -3.72 | -131.62% | ― | ― | 65.32% | |
43 Neutral | AU$52.10M | -28.83 | -51.49% | ― | ― | 5.93% | |
43 Neutral | AU$3.76M | -1.18 | -37.62% | ― | ― | 76.76% | |
41 Neutral | AU$19.40M | -10.00 | -32.31% | ― | ― | 69.23% |
Star Minerals Ltd. Corporate Events
Star Minerals has released an updated corporate presentation outlining the preliminary results of its Updated Scoping Study for the Tumblegum South gold deposit, which assesses the viability of open pit mining with third-party toll treatment as it advances towards near-term gold production. The company emphasises that the study remains an early-stage, low-level technical and economic assessment that does not yet support ore reserve estimation, and highlights that further evaluation, additional funding in the range of A$1.7 million to A$3.9 million, and potential alternative ‘value realisation’ strategies such as asset sales or joint ventures may materially influence project ownership and outcomes for shareholders, underscoring the inherent uncertainties and risks for stakeholders at this stage.
The most recent analyst rating on (AU:SMS) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Star Minerals Ltd. stock, see the AU:SMS Stock Forecast page.
Star Minerals Limited has reported the outcomes of its 29 January 2026 general meeting, where shareholders voted on several capital-related resolutions. All three resolutions, relating to the ratification of previous share issues under ASX Listing Rules 7.1 and 7.1A and the ratification of previously issued lead manager options, were carried by an overwhelming majority via poll, confirming shareholder support for the company’s recent capital-raising and incentive activities and providing regulatory certainty around its existing securities structure.
The most recent analyst rating on (AU:SMS) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Star Minerals Ltd. stock, see the AU:SMS Stock Forecast page.
Star Minerals has reported a strong December quarter as it advances its Tumblegum South Gold Project toward production, having secured mining approval and commenced grade control drilling on the granted M51/888 lease. The company highlighted that its updated scoping study for Tumblegum South indicates potential free cash flow of up to A$19.6 million at gold prices of A$3,800/oz, while the current ~A$7,000/oz gold price environment offers significant upside. Pre-mining capital and start-up costs of A$1.7 million to A$3.9 million are to be covered under a Right to Mine agreement with MEGA Resources, easing funding pressures as Star Minerals finalises mine planning and milling arrangements in collaboration with MEGA Resources and Bain Global Resources. The company ended the quarter with A$1.26 million in cash, reinforcing its ability to progress toward first production and potentially enhancing returns for shareholders if the strong gold price persists.
The most recent analyst rating on (AU:SMS) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Star Minerals Ltd. stock, see the AU:SMS Stock Forecast page.
Star Minerals has recommenced grade control drilling at its Tumblegum South Gold Project, with a planned program of about 4,000 metres and 611 metres already completed before the Christmas break under the coordination of MEGA Resources. The closely spaced drilling is designed to generate detailed data to define the mining production schedule and guide efficient extraction of the deposit, aiming to optimise the project’s economic outcomes as the company moves closer to potential production decisions.
The most recent analyst rating on (AU:SMS) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Star Minerals Ltd. stock, see the AU:SMS Stock Forecast page.
Star Minerals Ltd has called a general meeting of shareholders for 10:00am AWST on 29 January 2026, with the notice of meeting and explanatory materials made available online through the company’s website and ASX announcements page instead of being mailed in hard copy, except to investors who have specifically elected to receive physical documents. The company is urging shareholders to submit directed proxy votes and questions in advance, register their intended attendance, and manage their communication and contact details through the Automic investor portal, while also flagging that any changes to the meeting arrangements will be communicated via its website and ASX platform, underscoring a continued shift toward digital shareholder engagement and compliance with electronic disclosure practices.
Star Minerals Limited has called a physical General Meeting of shareholders to be held in Leederville, Perth, Western Australia, at 10:00am (WST) on Thursday, 29 January 2026. The company has set an indicative timetable covering the last date for receipt of proxy forms and the share register snapshot date for voting eligibility, underscoring the importance of shareholder participation in upcoming resolutions to be considered at the meeting.
Star Minerals has reported steady progress on grade control drilling at its Tumblegum South Gold Project in Western Australia, following the recent receipt of mining approval. The program, coordinated by MEGA Resources, will cover about 4,000 metres of drilling, with 611 metres already completed before a short pause over the Christmas-New Year period and completion expected in January. The closely spaced drill holes are designed to refine the mining production schedule and maximise the ore-to-waste ratio, supporting the company’s plan to commence mining next quarter and accelerate first gold production, a key step in de-risking the project and moving Star Minerals closer to cash flow generation.
Star Minerals Ltd, whose shares trade on the ASX under the code SMS, has had its securities reinstated to trading after a period of suspension. The ASX lifted the suspension immediately following Star Minerals’ announcement that it has applied to the Supreme Court of Western Australia for orders relating, among other matters, to the appointment of the company’s auditor, signalling a key step in resolving governance issues that had sidelined its stock and allowing normal market trading to resume.
Star Minerals Limited has secured court orders from the Supreme Court of Western Australia validating the resignation of its former auditor Elderton Audit Pty Ltd and the appointment of Nexia Perth Audit Services Pty Ltd, despite an earlier administrative failure to obtain shareholder approval at its 2025 AGM. The Court also confirmed the effectiveness of Star Minerals’ cleansing notices for share issues between March and November 2025, ensuring that secondary trading of those shares remains valid and compliant, thereby resolving a regulatory compliance issue and enabling the company to lift its voluntary trading suspension and restore normal market operations.
Star Minerals Limited has requested an extension to the voluntary suspension of trading in its securities on the ASX, originally granted on 17 December 2025, while it awaits the outcome of a Supreme Court of Western Australia application relating primarily to the appointment of the company’s auditor. The company expects a court hearing and subsequent market announcement on 19 December 2025, and argues the continued suspension is necessary to prevent trading on an uninformed basis until the court’s orders are known, indicating a short-term pause in liquidity for shareholders while governance and compliance matters are resolved.
Star Minerals Limited has requested a voluntary suspension of its securities from the Australian Securities Exchange pending a court decision regarding the appointment of the company’s auditor. This suspension is expected to last until the announcement of the court’s decision, anticipated by December 19, 2025, and may impact the company’s operations and stakeholder confidence.
Star Minerals Limited has announced the appointment of Nexia Perth Audit Services Pty Ltd as its new auditor, following the resignation of Elderton Audit Pty Ltd. However, due to an administrative oversight, the appointment was not approved by shareholders at the company’s 2025 Annual General Meeting. The company is seeking a court order to validate the appointment and address related compliance issues. Despite these administrative challenges, Star Minerals does not consider the matter to be price sensitive and has requested a trading halt pending further announcements.
Star Minerals Limited has requested a trading halt on its securities pending an announcement related to a Supreme Court application concerning the appointment of the company’s auditor. This halt is expected to last until the court hears the application or an announcement is made, potentially impacting the company’s market operations and stakeholder confidence.
Star Minerals Ltd. has received mining approval from the WA Department of Mines, Petroleum and Exploration for its Tumblegum South Gold Project, marking a significant milestone for the company. With mining set to begin in Q1 2026, the project is expected to generate substantial cash surplus due to high gold prices, and will be managed by MEGA Resources, a related entity to Bain Global Resources, which holds a significant share in Star Minerals.
Star Minerals Ltd. has announced a change in the director’s interest, with Clinton Moxham acquiring 3,000,000 performance rights as a non-cash director incentive. This move reflects the company’s strategy to align management interests with shareholder value, potentially impacting its governance and operational focus.
Star Minerals Ltd. announced the issuance of 3,000,000 performance rights set to expire on December 5, 2030, as part of an employee incentive scheme. This move is likely aimed at motivating and retaining key personnel, potentially strengthening the company’s operational capabilities and market position.
Star Minerals Ltd. has released an updated scoping study for its Tumblegum South Gold Project, which evaluates the viability of open pit mining and third-party toll treatment. The study indicates that funding between $1.7 million to $3.9 million is required to achieve the projected outcomes, but there is no certainty of obtaining this funding. The company may consider alternative strategies such as sales or joint ventures, which could affect its ownership stake.
Star Minerals Limited announced the results of its Annual General Meeting held on November 19, 2025. All resolutions, including the adoption of the remuneration report, ratification of previous issues, and election of directors, were passed with significant majorities. The approval of an additional 10% placement facility and the issuance of performance rights to a related party were also carried. This outcome reflects strong shareholder support and positions the company for continued strategic growth.
Star Minerals Ltd. announced the issuance of 7.5 million unquoted Lead Manager Options, set to expire on November 17, 2028, as part of a previously announced transaction. This move is likely aimed at strengthening the company’s financial position and enhancing its strategic operations, potentially impacting its market standing and offering new opportunities for stakeholders.
Star Minerals Limited has signed a Right to Mine Agreement with MEGA Resources and Bain Global Resources for the Tumblegum South Gold Project. This agreement includes a 50:50 profit-sharing arrangement and provides up to $20 million in working capital from MEGA Resources, reducing the need for dilutive funding. The collaboration aims to commence mining operations in Q1 2026, leveraging MEGA Resources’ expertise and resources. The agreement is contingent on securing an Ore Purchase Agreement, and MEGA Resources will handle compliance and cost management. This strategic partnership is expected to enhance Star Minerals’ operational efficiency and financial stability.