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Nickelx Ltd (AU:SMX)
ASX:SMX
Australian Market

Nickelx Ltd (SMX) AI Stock Analysis

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AU:SMX

Nickelx Ltd

(Sydney:SMX)

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Neutral 47 (OpenAI - 5.2)
Rating:47Neutral
Price Target:
AU$0.02
▲(10.00% Upside)
The score is held down primarily by weak fundamentals (pre-revenue operations, ongoing losses, and negative cash flow) and limited valuation support due to a negative P/E and no dividend. Technical indicators are modestly positive and provide some offset, but momentum is not strong enough to outweigh the financial risk profile.
Positive Factors
Low Leverage
The absence of debt reduces near-term solvency risk, allowing the company to focus on growth without the burden of interest payments.
Strategic Acquisitions
This acquisition significantly enhances the company's exploration potential, positioning it for future resource discoveries and long-term growth.
Capital Raising Success
Successful capital raising strengthens the financial position, providing necessary funds to advance exploration projects and support operational needs.
Negative Factors
Pre-Revenue Operations
Operating without revenue limits financial flexibility and increases reliance on external funding, posing risks to long-term sustainability.
Negative Cash Flow
Consistently negative cash flow indicates ongoing financial strain, necessitating continuous external financing to maintain operations.
Equity Volatility
Volatile equity levels reflect financial instability, which can affect investor confidence and the ability to raise future capital.

Nickelx Ltd (SMX) vs. iShares MSCI Australia ETF (EWA)

Nickelx Ltd Business Overview & Revenue Model

Company DescriptionStrata Minerals Ltd. is an exploration company, which engages in acquiring, exploring, and developing mineral projects. It focuses on gold, uranium, and rare earths. Its projects include Penny South Gold, Elliot Lake Uranium, Biranup, and Dalwallinu. The company was founded by Oliver Pierre Kreuzer on February 7, 2019 and is headquartered in Perth, Australia.
How the Company Makes Moneynull

Nickelx Ltd Financial Statement Overview

Summary
Nickelx Ltd faces significant financial challenges, including lack of revenue growth, operational losses, and diminishing asset and equity bases. Despite a strong debt position, the company struggles with cash flow generation, which may affect its long-term viability. Immediate strategic actions are required to address these issues and improve financial health.
Income Statement
Nickelx Ltd has faced significant challenges in generating revenue, with no revenue reported for the last two fiscal years. The company also experiences negative gross and net profit margins, indicating operational inefficiencies or high costs relative to revenue generation. The persistent negative EBIT and EBITDA margins highlight ongoing struggles with operational profitability.
Balance Sheet
The company's balance sheet shows a favorable debt position with no total debt in the latest fiscal year, reflecting a conservative capital structure. However, the declining equity and asset base over recent years suggest potential liquidity concerns. The equity ratio remains reasonable, but the overall reduction in assets and equity could indicate potential financial instability.
Cash Flow
Nickelx Ltd's cash flow analysis reveals negative operating and free cash flows, indicating challenges in generating cash from core business activities. The negative free cash flow growth rate further highlights the company's struggle in improving liquidity. The operating cash flow to net income ratio remains negative, reflecting ongoing operational losses and cash outflows.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue0.000.000.000.000.0013.45K
Gross Profit0.000.00-12.38K-37.13K-35.33K3.12K
EBITDA-3.30M-3.30M-2.10M-2.74M-3.01M-2.02M
Net Income-3.30M-3.30M-2.11M-2.78M-3.05M-2.05M
Balance Sheet
Total Assets2.97M2.97M2.83M5.34M4.72M7.64M
Cash, Cash Equivalents and Short-Term Investments2.03M2.03M840.93K3.06M2.85M5.97M
Total Debt0.000.000.0012.68K50.42K28.98K
Total Liabilities100.96K100.96K317.24K703.57K317.40K214.91K
Stockholders Equity2.87M2.87M2.51M4.64M4.40M7.43M
Cash Flow
Free Cash Flow-2.13M-2.13M-2.19M-1.94M-3.10M-4.49M
Operating Cash Flow-2.13M-2.13M-1.89M-1.79M-3.10M-3.53M
Investing Cash Flow-64.18K-64.18K-296.70K-150.00K-1.50K-956.95K
Financing Cash Flow3.38M3.38M-29.77K2.14M-19.24K7.01M

Nickelx Ltd Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.02
Price Trends
50DMA
0.02
Negative
100DMA
0.02
Positive
200DMA
0.02
Positive
Market Momentum
MACD
<0.01
Positive
RSI
56.42
Neutral
STOCH
-4.44
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:SMX, the sentiment is Positive. The current price of 0.02 is equal to the 20-day moving average (MA) of 0.02, below the 50-day MA of 0.02, and above the 200-day MA of 0.02, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 56.42 is Neutral, neither overbought nor oversold. The STOCH value of -4.44 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:SMX.

Nickelx 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%
47
Neutral
AU$7.20M-1.34-122.65%28.93%
46
Neutral
AU$17.33M-7.11-22.90%-17.92%
43
Neutral
AU$5.41M-2.08-217.63%3.91%46.67%
37
Underperform
AU$914.19K-0.17
37
Underperform
AU$8.87M-26.58%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:SMX
Nickelx Ltd
0.02
>-0.01
-11.54%
AU:RC1
Redcastle Resources Limited
0.15
0.05
46.46%
AU:1TT
Wooboard Technologies Limited
0.01
0.00
0.00%
AU:SIS
Simble Solutions Ltd.
AU:ID8
Identitii Ltd.
0.01
0.00
0.00%

Nickelx Ltd Corporate Events

Strata Minerals Secures $1.1m in First Tranche of Capital Raising
Dec 21, 2025

Strata Minerals Limited has completed the first tranche of its previously announced $1.175 million capital raising, securing $1.105 million through the placement of 55.25 million new shares at $0.02 each to new and existing institutional and sophisticated investors under its existing ASX placement capacity. The remaining balance of the raising is subject to shareholder approval at an upcoming general meeting, and the company has issued the required cleansing notice confirming regulatory compliance, a step that supports secondary trading of the new shares and underpins its funding position as it advances its Western Australian gold exploration portfolio.

Strata Minerals Seeks ASX Quotation for 55.25 Million New Shares
Dec 21, 2025

Strata Minerals Limited has applied to the ASX for quotation of 55,250,000 new fully paid ordinary shares under the ticker SMX, following previously announced transactions. The move significantly increases the company’s quoted share base as of 19 December 2025, potentially enhancing its market liquidity and signalling an important capital and corporate milestone for existing and prospective shareholders.

Strata Minerals Limited Announces Proposed Securities Issue
Dec 12, 2025

Strata Minerals Limited has announced a proposed issue of securities, including 8,000,000 unlisted options and 62,750,000 ordinary fully paid shares, set for issuance on February 12, 2026. This move is intended to strengthen the company’s financial position and support its ongoing projects, potentially impacting its market standing and offering new opportunities for stakeholders.

Strata Minerals Expands Gold Exploration with $1.175M Raise and Key Acquisition
Dec 12, 2025

Strata Minerals Limited has successfully raised $1.175 million through an equity placement to fund exploration activities across its gold portfolio, including a maiden drill program at the Zelica Gold Project. The company has also acquired the Zelica South Project, significantly expanding its exploration footprint by 400% and adding over 6km of gold mineralised corridor. This strategic acquisition in the Yundamindra region provides a major discovery opportunity, enhancing Strata’s positioning in a region with multiple million-ounce gold deposits.

Strata Minerals Initiates Trading Halt for Capital Raising and Acquisition
Dec 9, 2025

Strata Minerals Limited, listed on the ASX under the ticker SMX, has requested a trading halt on its securities pending an announcement related to a capital raising and acquisition. This halt will remain in effect until the company releases its announcement or until the start of normal trading on December 12, 2025. This move indicates potential strategic developments that could impact the company’s market position and investor interests.

Strata Minerals Advances Exploration at Penny South Gold Project
Dec 8, 2025

Strata Minerals Limited has completed its maiden three-hole diamond drilling program at the Penny South Gold Project, aiming to explore the southern extension of the mineralized system associated with high-grade gold deposits nearby. Although no significant gold assays were returned, the drilling confirmed key stratigraphic and structural relationships, indicating significant potential for a new gold discovery in the area. The company plans further exploration to test multiple high-priority targets, with the next phase of exploration already underway.

Strata Minerals Limited Successfully Passes All AGM Resolutions
Nov 20, 2025

Strata Minerals Limited announced that all resolutions presented at its Annual General Meeting on November 20, 2025, were successfully carried via a poll. This outcome supports the company’s strategic initiatives and governance, potentially strengthening its market position and stakeholder confidence.

Strata Minerals to Begin Drilling at Zelica Gold Project
Nov 20, 2025

Strata Minerals Limited has announced the commencement of its maiden drilling program at the Zelica Gold Project in Western Australia. The program aims to explore high-grade shallow oxide gold mineralization along a 1km strike zone, which remains open at depth and along strike. With historical drilling indicating significant gold potential and no exploration conducted in over a decade, the company sees an opportunity to add value through infill and step-out drilling. The project is situated on a granted mining license, and with current high gold prices, Strata is prioritizing the evaluation of near-term gold extraction opportunities, potentially enhancing shareholder value.

Strata Minerals Completes Strategic Share and Option Issuance
Nov 7, 2025

Strata Minerals Limited has completed the issuance of 11,875,000 fully paid ordinary shares as part of a Tenement Option agreement with SGMB Resources Pty Ltd, alongside 625,000 shares and 2,000,000 options as facilitator fees. Additionally, 375,000 shares were issued under an investor relations agreement, all utilizing the company’s existing placement capacity under ASX Listing Rules. The shares issued to SGMB and the investor relations contractor are subject to voluntary escrow periods of 12 and 6 months, respectively. This strategic issuance aims to bolster Strata’s resource development initiatives, potentially enhancing its market position and offering growth opportunities for stakeholders.

Strata Minerals Limited Issues New Shares for Investor Relations
Nov 7, 2025

Strata Minerals Limited has announced a new issuance of 375,000 ordinary shares at $0.02 per share, totaling $7,500, as part of an agreement for investor relations services. This strategic move aims to strengthen the company’s investor relations without impacting its cash reserves, potentially enhancing its market presence and stakeholder engagement.

Strata Minerals Issues Unlisted Options to Boost Financial Strategy
Nov 7, 2025

Strata Minerals Limited has announced the issuance of 2,000,000 unlisted options with an exercise price of $0.03, set to expire three years from the date of issue. This move is part of previously announced transactions and indicates the company’s strategic efforts to enhance its financial flexibility and potentially incentivize stakeholders, although these securities will not be quoted on the ASX.

Strata Minerals Limited Announces New Securities Quotation
Nov 7, 2025

Strata Minerals Limited has announced the issuance of 12,500,000 fully paid ordinary securities, which are set to be quoted on the Australian Securities Exchange (ASX) under the code SMX. This move is part of a previously announced transaction and aims to enhance the company’s capital structure, potentially impacting its market positioning and providing additional resources for operational expansion.

Strata Minerals Announces Director’s Interest Change
Nov 4, 2025

Strata Minerals Limited has announced a change in the director’s interest notice for Richard Monti, who holds indirect interests through Greatcity Corporation Pty Ltd. The notice details the expiry of 1,950,000 unlisted options with various exercise prices, leaving Monti with 1,250,000 unlisted options and 1,333,334 ordinary fully paid shares. This change reflects an adjustment in Monti’s investment portfolio, potentially impacting his influence and financial stake in the company.

Strata Minerals Limited Announces Expiry of Options
Oct 31, 2025

Strata Minerals Limited announced the cessation of 1,950,000 options due to their expiry on October 31, 2025. This development indicates a potential shift in the company’s capital structure, as these options expired without exercise or conversion, which may impact investor strategies and the company’s financial planning.

Strata Minerals Expands Gold Portfolio with Zelica Acquisition
Oct 30, 2025

Strata Minerals Limited has exercised its option to acquire the Zelica Gold Project, enhancing its gold exploration portfolio in Western Australia. The project, located in a highly prospective area with existing infrastructure, offers significant potential for resource delineation and gold extraction, with historical drilling indicating high-grade oxide gold mineralization. The company plans to conduct further drilling to expand on historical results and explore untapped parallel mineralized structures, aiming for near-term mining operations given the favorable market conditions.

Strata Minerals Advances Exploration with New Drilling and Acquisition
Oct 27, 2025

Strata Minerals Limited has made significant progress in its exploration activities during the September 2025 quarter. At the Penny South Gold Project, the company completed its first-ever diamond drilling program, targeting extensions of mineralized zones, with results expected soon. Additionally, Strata has entered into an agreement to acquire the Zelica Gold Project, enhancing its gold exploration portfolio. The company also conducted mapping and sampling at the Elliot Lake Uranium Project. Financially, Strata secured a government co-funded grant for drilling and reported a cash position of $1.47 million, indicating a stable financial footing to support ongoing exploration efforts.

Strata Minerals Limited Announces 2025 AGM Details
Oct 10, 2025

Strata Minerals Limited has announced that its 2025 Annual General Meeting will take place on November 20, 2025, in Perth, Australia. Shareholders are encouraged to participate either in person or by proxy, with all relevant materials available online. The meeting will address key resolutions, and shareholders are urged to exercise their voting rights.

Strata Minerals Limited Announces Key Resolutions for Upcoming AGM
Oct 10, 2025

Strata Minerals Limited has announced its upcoming Annual General Meeting, scheduled for November 20, 2025, in Perth, Australia. The meeting will address several key resolutions, including the adoption of the remuneration report, the re-election of Director Oliver Kreuzer, approval of a mandate to issue additional equity securities, and ratification of agreements to issue shares to SGMB Resources and The Minexchange. These resolutions, particularly the approval of the 7.1A mandate, could significantly impact the company’s capital structure and strategic partnerships.

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