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Nickelx Ltd
(Sydney:SMX)
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Rating:40Underperform
Price Target:
AU$0.02
â–Ľ(-15.00% 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
Very low leverage
The company’s near-zero debt profile materially reduces refinancing and interest-rate risk, preserving financial optionality. Over a 2–6 month horizon this supports survival capacity and strategic flexibility, making future capital raises less pressured by fixed debt service obligations.
Negative Factors
Pre-revenue status
Being pre-revenue leaves the business without an internal cash generation engine, making sustained operations reliant on external funding. Over months this structural absence of revenue increases execution risk and magnifies the impact of any funding delays or market tightening.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
The company’s near-zero debt profile materially reduces refinancing and interest-rate risk, preserving financial optionality. Over a 2–6 month horizon this supports survival capacity and strategic flexibility, making future capital raises less pressured by fixed debt service obligations.
Read all positive factors
Nickelx Ltd (SMX) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$6.40M
Dividend YieldN/A
Average Volume (3M)828.12K
Price to Earnings (P/E)―
Beta (1Y)0.08
Revenue GrowthN/A
EPS Growth48.33%
CountryAU
Employees4
SectorGeneral
Sector StrengthN/A
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 firm established in Perth, Australia, on February 7, 2019, by Oliver Pierre Kreuzer. The company's operations encompass identifying, evaluating, and developing various mineral deposits. Its core focus is on v...
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
Neutral
0.02
Price Trends
0.02
Positive
0.02
Negative
0.02
Negative
Market Momentum
<0.01
Positive
51.66
Neutral
125.00
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:SMX, the sentiment is Neutral. The current price of 0.02 is below 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 125.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:SMX.
Nickelx Ltd Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | AU$8.33M | -12.95 | -11.29% | ― | ― | 85.50% | |
46 Neutral | AU$7.10M | -0.61 | -72.25% | ― | ― | 78.01% | |
45 Neutral | AU$7.83M | -2.17 | -16.54% | ― | ― | -25.45% | |
44 Neutral | AU$7.17M | -1.13 | -187.99% | ― | 690.64% | 38.18% | |
44 Neutral | AU$10.68M | -1.93 | -2.33% | ― | ― | -101.26% | |
40 Underperform | AU$6.40M | -1.46 | -115.58% | ― | ― | 48.33% |
* General Sector Average
AU:SMX
Nickelx Ltd
0.02
<0.01
50.00%
AU:AS2
Askari Metals Limited
0.01
0.00
0.00%
AU:ALV
Alvo Minerals Limited
0.03
>-0.01
-19.35%
AU:KFM
Kingfisher Mining Ltd.
0.08
0.04
100.00%
AU:RCR
Rincon Resources Ltd.
0.01
>-0.01
-6.67%
AU:TSK
DY6 Metals Ltd.
0.09
-0.23
-71.25%
Nickelx Ltd Corporate Events
Strata Minerals Director Peter Woods Increases Indirect Shareholding
Jul 13, 2026
Strata Minerals Limited has disclosed a change in director Peter Woods’ relevant interests, reflecting an on‑market purchase of additional company shares. Through his associated entities Blackbird Capital Pty Ltd and PRW Investments Pt...
Strata Minerals Director Peter Woods Lifts Indirect Shareholding
Jul 6, 2026
Strata Minerals Limited, trading as Nickelx Ltd, is an Australian mineral exploration company with a capital structure comprising ordinary shares and multiple tranches of unlisted options. The presence of director-linked entities among major secur...
Strata Minerals Wins Shareholder Backing for Capital Moves at General Meeting
Jul 3, 2026
Strata Minerals Limited reported that all resolutions put to shareholders at its 3 July 2026 general meeting were passed on a poll, including the ratification of prior share issues related to an acquisition and under ASX Listing Rules 7.1 and 7.1A...
Strata Minerals Director Peter Woods Lifts Indirect Shareholding
Jun 29, 2026
Strata Minerals director Peter Woods has increased his indirect shareholding in the company through a series of on-market purchases over several days in late June 2026. The transactions were executed via his investment vehicles, Blackbird Capital ...
Strata Minerals Director Increases Indirect Shareholding
Jun 22, 2026
Strata Minerals Limited has disclosed a change in director Peter Woods’ relevant interests in its securities, reflecting increased indirect holdings through his associated entities. The update details his positions in ordinary fully paid sha...
Strata Minerals Director Increases Stake With On‑Market Share Purchase
Jun 17, 2026
Strata Minerals Limited has reported a change in director Jonathan Downes’ interests, disclosing an on‑market purchase of 1,000,000 ordinary fully paid shares through a superannuation fund of which he is a beneficiary. The transaction,...
Strata Minerals Adds Capital-Raising Resolution to July Shareholder Meeting
Jun 10, 2026
Strata Minerals Limited has called a general meeting of shareholders for 3 July 2026 in Perth and has issued an addendum to its original notice to include a new resolution covering a proposed share issue to BML Ventures Pty Ltd. The company has al...
Strata Minerals’ Phase 2 Drilling Confirms Expanding High-Grade Gold System at Zelica
Jun 3, 2026
Strata Minerals has reported final Phase 2 reverse circulation drilling results from its Zelica Gold Project, with 16 of 17 extensional holes intersecting significant gold mineralisation. The program confirms a shallow, high-grade, multi-lode syst...
Strata Minerals Calls July General Meeting and Urges Shareholder Voting Participation
Jun 2, 2026
Strata Minerals Limited has called a General Meeting of shareholders to be held in person in Perth on 3 July 2026 at 11:00 a.m. AWST. The company has made the Notice of Meeting and Explanatory Memorandum available online via its website and the AS...
Strata Minerals Plans Major Share Placement on ASX
Jun 1, 2026
Strata Minerals Limited has notified the Australian Securities Exchange of a proposed placement of up to 57,142,857 ordinary fully paid shares. The new securities are expected to be issued on 9 July 2026, in line with ASX Listing Rule requirements...
Strata Minerals Strikes Capital-Light Mining Deal for Zelica Gold Project
Jun 1, 2026
Strata Minerals Limited has signed a binding Mining Services and Profit Share Agreement with WA Goldfields contractor BML Ventures to develop and mine the Zelica Gold Project in Western Australia. BML Ventures will manage approvals, mining, haulag...
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...
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.