Nickelx Ltd (AU:SMX)
ASX:SMX
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Nickelx Ltd
(Sydney:SMX)
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Rating:40Underperform
Price Target:
AU$0.01
▼(-30.00% Downside)
Action:Reiterated
Date:05/28/26
The score is driven primarily by weak financial performance (pre-revenue, widening losses, and ongoing cash burn), partially offset by very low leverage. Technical indicators are bearish with the stock trading below major moving averages and negative MACD, while valuation metrics provide limited support due to negative earnings and no dividend yield data.
Positive Factors
Low leverage / clean balance sheet
Zero or negligible debt materially lowers financial distress risk and interest burden, preserving strategic optionality. Over a multi‑month horizon this balance sheet profile supports flexibility for exploration spend or capital raises without immediate solvency pressure, a durable risk offset.
Negative Factors
Pre‑revenue operations
Zero revenue over multiple years leaves the company without internal earnings to fund operations or validate its business model. This structural absence of revenue increases reliance on external financing, reduces visibility on future margins, and heightens execution risk over months.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / clean balance sheet
Zero or negligible debt materially lowers financial distress risk and interest burden, preserving strategic optionality. Over a multi‑month horizon this balance sheet profile supports flexibility for exploration spend or capital raises without immediate solvency pressure, a durable risk offset.
Read all positive factors
Nickelx Ltd (SMX) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$6.00M
Dividend YieldN/A
Average Volume (3M)828.12K
Price to Earnings (P/E)―
Beta (1Y)-0.29
Revenue GrowthN/A
EPS Growth48.33%
CountryAU
Employees4
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.02
Shares Outstanding399,953,130
10 Day Avg. Volume865,469
30 Day Avg. Volume828,120
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.85
Price to Sales (P/S)0.00
P/FCF Ratio-1.15
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
Nickelx Ltd Business Overview & Revenue Model
Company Description
Strata 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 Dalwalli...
How the Company Makes Money
null...
Nickelx Ltd Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
58
Neutral
Cash Flow
22
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 | 13.45K |
| Gross Profit | 0.00 | 0.00 | -12.38K | -37.13K | -35.33K | 3.12K |
| EBITDA | -3.23M | -3.30M | -2.10M | -2.74M | -3.01M | -2.02M |
| Net Income | -3.18M | -3.30M | -2.11M | -2.78M | -3.05M | -2.05M |
Balance Sheet | ||||||
| Total Assets | 2.98M | 2.97M | 2.83M | 5.34M | 4.72M | 7.64M |
| Cash, Cash Equivalents and Short-Term Investments | 1.47M | 2.03M | 840.93K | 3.06M | 2.85M | 5.97M |
| Total Debt | 0.00 | 0.00 | 0.00 | 12.68K | 50.42K | 28.98K |
| Total Liabilities | 360.31K | 100.96K | 317.24K | 703.57K | 317.40K | 214.91K |
| Stockholders Equity | 2.62M | 2.87M | 2.51M | 4.64M | 4.40M | 7.43M |
Cash Flow | ||||||
| Free Cash Flow | -2.87M | -2.13M | -2.19M | -1.94M | -3.10M | -4.49M |
| Operating Cash Flow | -2.87M | -2.13M | -1.89M | -1.79M | -3.10M | -3.53M |
| Investing Cash Flow | -184.06K | -64.18K | -296.70K | -150.00K | -1.50K | -956.95K |
| Financing Cash Flow | 2.55M | 3.38M | -29.77K | 2.14M | -19.24K | 7.01M |
Nickelx Ltd Technical Analysis
Positive
0.02
Price Trends
0.02
Positive
0.02
Negative
0.02
Negative
Market Momentum
>-0.01
Positive
51.66
Neutral
100.00
Negative
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 above the 20-day moving average (MA) of 0.02, above the 50-day MA of 0.02, and below the 200-day MA of 0.02, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 51.66 is Neutral, neither overbought nor oversold. The STOCH value of 100.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:SMX.
Nickelx 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% | |
47 Neutral | AU$18.76M | -11.84 | -15.51% | ― | ― | 25.99% | |
43 Neutral | AU$7.01M | -0.31 | -562.56% | ― | ― | ― | |
43 Neutral | AU$13.31M | -3.71 | 227.23% | ― | 4.08% | -6.25% | |
43 Neutral | AU$4.62M | -0.98 | -525.49% | ― | 10.78% | 41.56% | |
40 Underperform | AU$6.00M | -1.28 | -115.58% | ― | ― | 48.33% |
* Basic Materials Sector Average
AU:SMX
Nickelx Ltd
0.02
<0.01
15.38%
AU:RC1
Redcastle Resources Limited
0.14
0.02
12.50%
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 Seeks Trading Halt Ahead of Zelica Gold Agreement
May 28, 2026
Strata Minerals Limited has requested and been granted a trading halt on its ASX-listed securities as it prepares to release a material announcement concerning a mining services agreement for its Zelica Gold Project in Western Australia. The halt,...
Strata Minerals Director Peter Woods Increases Indirect Shareholding
May 7, 2026
Strata Minerals director Peter Woods has increased his indirect equity stake in the company through an on‑market purchase of 1,000,000 ordinary fully paid shares for $20,000. The transaction, executed via his investment vehicle PRW Investmen...
Strata Minerals Raises A$1.57m via Share Placement to Advance WA Gold Projects
May 4, 2026
Strata Minerals Limited has completed a A$1.57 million capital raising through a placement of 78,775,000 new shares at A$0.02 each to new and existing institutional and sophisticated investors. The shares were issued under the company’s exis...
Strata Minerals Seeks ASX Quotation for 78.8 Million New Shares
May 4, 2026
Strata Minerals Limited has applied for quotation of 78,775,000 ordinary fully paid shares on the Australian Securities Exchange. The new SMX securities, issued on 4 May 2026 and previously flagged in an Appendix 3B, will expand the company’...
Strata Minerals to Release 375,000 Shares From Voluntary Escrow
Apr 30, 2026
Strata Minerals Limited has announced that 375,000 fully paid ordinary shares will be released from voluntary escrow on 7 May 2026, six months after their allotment. The company stated that this release will not affect its overall issued capital, ...
Strata Minerals Extends Zelica Gold Corridor on Strong Drilling and Zelica South Deal
Apr 30, 2026
Strata Minerals reported strong maiden drilling results at its Zelica Gold Project for the March 2026 quarter, with 22 of 23 RC holes intersecting significant shallow oxide gold over a roughly 1km strike that remains open at depth and along strike...
Nickelx Director Jonathan Downes Sees Expiry of Unlisted Options With No Change to Shareholding
Apr 29, 2026
Nickelx Ltd has reported a change in the interests of director Jonathan Downes, primarily reflecting the expiry of several tranches of unlisted options. The lapsed options carried exercise prices of $0.25, $0.30 and $0.40 with five-year terms, and...
Strata Minerals Options Expire, Streamlining Capital Structure
Apr 29, 2026
Strata Minerals Limited has announced the expiry of several classes of unexercised options, leading to a reduction in its outstanding convertible securities. A total of 6.75 million options, with exercise prices ranging from $0.25 to $0.40 and exp...
Strata Minerals Unveils Major Capital Raising via Options and Share Issue
Apr 24, 2026
Strata Minerals Limited has lodged an Appendix 3B detailing a proposed securities issue comprising up to 15 million unlisted options exercisable at $0.03 and expiring three years from their date of issue. The company also plans to issue 78,776,159...
Strata Minerals Raises A$1.57m to Accelerate Zelica Gold Project
Apr 24, 2026
Strata Minerals has raised approximately A$1.57 million through an equity placement at A$0.02 per share, backed by existing shareholders and sophisticated investors. The single-tranche placement uses the company’s existing ASX capacity and i...
Strata Minerals Requests ASX Trading Halt Ahead of Capital Raising Update
Apr 22, 2026
Strata Minerals Limited has requested a trading halt on its ASX-listed securities as it prepares an announcement related to a capital raising. Trading in SMX shares will be suspended until either the start of normal trading on 24 April 2026 or the...
Strata Minerals Director Jonathan Downes Lifts Shareholding via On‑Market Purchase
Apr 14, 2026
Strata Minerals director Jonathan Downes has increased his equity stake in the company through an on-market purchase. He acquired 400,000 ordinary fully paid shares for $8,700 via a superannuation fund in which he is a beneficiary.Following the tr...
Strata Minerals Issues Shares to Acquire WA Tenement and Lodges Cleansing Notice
Apr 9, 2026
Strata Minerals Limited has issued 1,214,694 fully paid ordinary shares as part of the consideration for acquiring tenement P39/6345 in Western Australia. The share-based component of the deal underlines the company’s strategy of expanding i...
Strata Minerals Seeks ASX Quotation for 1.21 Million New Shares
Apr 9, 2026
Strata Minerals Limited has applied for quotation of 1,214,694 new ordinary fully paid shares on the Australian Securities Exchange, with an issue date of April 9, 2026. The securities form part of a previously announced transaction, expanding the...
Strata Minerals Plans Equity Placement of Over 1.2 Million Shares
Apr 8, 2026
Strata Minerals Limited has notified the Australian Securities Exchange of its intention to issue up to 1,214,694 new ordinary fully paid shares. The proposed placement, scheduled for 8 April 2026, is aimed at raising additional equity capital, wh...
Strata Minerals Extends Zelica Gold Corridor and Completes Second Drilling Phase
Apr 8, 2026
Strata Minerals has acquired a strategic tenement immediately north of its Zelica Gold Project, extending the interpreted gold-mineralised corridor to about 9.5km and reinforcing the prospect of a district- or camp-scale system in the Eastern Gold...
Strata Minerals Launches Phase 2 Drilling at Zelica Gold Project
Mar 23, 2026
Strata Minerals has commenced a Phase 2 reverse circulation drilling program at its Zelica Gold Project in Western Australia, following a successful maiden campaign that intersected significant shallow high-grade oxide gold in 22 of 23 holes. The ...
Strata Minerals Releases Interim Half-Year Financial Report
Mar 11, 2026
Strata Minerals Ltd has released its interim financial report for the half year ended 31 December 2025, providing shareholders with an overview of its financial performance and position. The report includes the directors’ commentary, reviewe...
Strata Minerals to Launch Second Drilling Phase at WA Zelica Gold Project
Mar 9, 2026
Strata Minerals Limited will restart drilling at its Zelica Gold Project in Western Australia, having secured a rig for a second-phase reverse circulation program of about 20 holes totalling 2,500 metres. The campaign follows a maiden program that...
Strata Minerals Director Jonathan Downes Increases Equity Stake via Share Issue
Mar 3, 2026
Strata Minerals Limited has disclosed a change in director Jonathan Downes’ relevant interests, detailing an increase in his directly held ordinary fully paid shares. The filing outlines his mix of indirect and direct holdings, including unl...
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.