Stellar Resources Limited (SRZ) AI Stock Analysis

• Market Cap: AU$108.53M
• Dividend Yield: N/A
• Average Volume (3M): 7.54M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.43
• Revenue Growth: N/A
• EPS Growth: -116.67%
• Country: AU
• Employees: 6
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 2,713,193,800
• 10 Day Avg. Volume: 4,710,666
• 30 Day Avg. Volume: 7,544,474
• PEG Ratio: -0.04
• Price to Book (P/B): 6.02
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -4.88
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 52 Neutral
• Price Target: AU$0.04 ▲(43.33% Upside)
• Action: Reiterated Date: 02/28/26
• Date: Action: Reiterated 02/28/26

The score is held down primarily by weak financial performance—minimal revenue, widening losses, and accelerating cash burn—raising funding and execution risk. Technicals provide a meaningful offset with a clear uptrend and positive momentum, while valuation is constrained by negative earnings and no dividend support.

Positive Factors

Low leverage / minimal debt

Very low leverage gives Stellar durable financial flexibility while advancing exploration. For a pre-revenue miner, minimal debt reduces refinancing and covenant risk, lowers probability of forced asset sales, and preserves optionality to pursue JV/farm-out or structured funding over coming months.

Multiple monetisation pathways

The business model supports several enduring exit routes—project sale, farm-out/JV, or royalties—allowing conversion of exploration upside into cash without needing to self-fund a mine. This reduces capital intensity and enhances strategic flexibility for mid-term project advancement or partner deals.

Focused base-metals exploration

A concentrated commodity focus on zinc, lead and silver permits targeted technical work and clearer value propositions to partners and offtakers. For an explorer this specialization increases operational efficiency and the likelihood of JV interest or project sales when resources are defined.

Negative Factors

Minimal revenue and widening losses

Revenue is effectively nil and net losses expanded materially to ~A$8m in FY2025, showing the company is not yet operating at scale. Persistent unprofitability means progress on projects depends on funding rather than internal cash generation, raising execution and continuity risk over the medium term.

Eroding equity base

Equity has declined sharply, roughly halving in a year, which reduces the balance-sheet buffer against further losses. A smaller capital base increases vulnerability to exploration setbacks and heightens the likelihood and potential dilution of future capital raises needed to sustain operations.

Persistent cash burn and funding dependency

Operating cash flow has been negative for years and accelerated to about -A$6.7m in FY2025, forcing reliance on external capital. This ongoing burn elevates near-term financing risk, likely driving dilutive raises or concessional JV terms and constraining strategic optionality over the next 2-6 months.

Stellar Resources Limited Business Overview & Revenue Model

Company Description

Stellar Resources Limited (SRZ) is an Australian-based mining company primarily focused on the exploration and development of mineral resources. The company is engaged in the extraction and processing of tin deposits, with its flagship project being the Heemskirk Tin Project located in Tasmania. Stellar Resources aims to become a significant player in the tin market by leveraging its high-quality resource base and employing sustainable mining practices.

How the Company Makes Money

Stellar Resources Limited generates revenue primarily through the exploration and eventual extraction of tin from its mining projects. The company's primary revenue stream is the sale of tin concentrate, which is extracted from its deposits and processed to meet market specifications. SRZ's earnings are heavily influenced by the global demand and pricing for tin, which is used in various applications including electronics, soldering, and plating. The company may also engage in strategic partnerships and joint ventures to optimize resource development and share operational costs. Additionally, Stellar Resources might secure funding through capital raising activities to support its exploration and development initiatives.

Stellar Resources Limited Financial Statement Overview

Summary

Income statement and cash flow are very weak: minimal revenue (A$70k in FY2024; A$0 in FY2025), sharply wider FY2025 net loss (~A$8.0m), and accelerating operating cash burn (~-A$6.7m in FY2025). The main positive is low leverage with essentially no debt, but shrinking equity reduces flexibility.

Income Statement

Operating performance is weak and volatile. Revenue remains minimal (A$70k in FY2024, A$0 in FY2025), while losses have widened sharply in FY2025 (net loss about A$8.0m vs. A$2.3m in FY2024). Profitability is consistently negative, indicating the business is not yet operating at scale and earnings are highly dependent on funding and project progress rather than recurring sales.

Balance Sheet

Leverage is very low, with essentially no debt in FY2025 and only small debt levels in prior years, which reduces financial risk. However, equity has contracted materially (about A$10.7m in FY2024 to A$5.5m in FY2025) and returns on equity are deeply negative, reflecting ongoing losses and dilution/erosion of the capital base. Asset levels are modest (about A$6.7m in FY2025), and continued losses could further weaken balance sheet flexibility.

Cash Flow

Cash generation is consistently negative, with operating cash flow outflows every year and a significant step-up in FY2025 (about -A$6.7m vs. -A$2.3m in FY2024). Free cash flow is also persistently negative, implying the company must rely on external funding to sustain operations. While free cash flow to net income is near 1.0 in recent years (losses largely mirrored by cash burn), the absolute level of cash burn and its acceleration in FY2025 are key concerns.

Breakdown	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	0.00	70.00K	55.00K	0.00	0.00
Gross Profit	-41.16K	70.00K	-40.10K	-6.26K	-11.46K
EBITDA	-8.31M	-2.21M	-3.29M	-3.39M	-708.64K
Net Income	-8.04M	-2.25M	-3.33M	-3.40M	-720.48K
Balance Sheet
Total Assets	6.72M	10.91M	2.07M	17.02M	17.09M
Cash, Cash Equivalents and Short-Term Investments	6.14M	10.42M	1.56M	2.47M	5.41M
Total Debt	0.00	15.41K	25.17K	44.01K	5.88K
Total Liabilities	1.24M	251.24K	331.25K	350.56K	231.98K
Stockholders Equity	5.48M	10.66M	1.74M	16.67M	16.86M
Cash Flow
Free Cash Flow	-6.76M	-2.31M	-3.19M	-6.22M	-894.88K
Operating Cash Flow	-6.74M	-2.31M	-3.19M	-3.38M	-643.29K
Investing Cash Flow	-2.96M	9.00K	-462.00	-2.36M	37.94K
Financing Cash Flow	2.43M	11.16M	2.28M	31.62K	5.49M

Stellar Resources Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.03
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:SRZ, the sentiment is Positive. The current price of 0.03 is below the 20-day moving average (MA) of 0.04, below the 50-day MA of 0.03, and above the 200-day MA of 0.02, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 59.99 is Neutral, neither overbought nor oversold. The STOCH value of 76.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:SRZ.

Stellar Resources Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
ELT	54 Neutral	AU$149.65M	-44.44	-9.25%	―	―	-52.31%
SRZ	52 Neutral	AU$108.53M	-10.26	-96.79%	―	―	-116.67%
EMC	52 Neutral	AU$37.76M	-23.73	-10.97%	―	―	71.63%
DEV	47 Neutral	AU$181.07M	-12.38	-49.01%	―	-100.00%	19.53%
WR1	47 Neutral	AU$106.13M	-3.04	-32.57%	―	-100.00%	-477.06%
CRS	42 Neutral	AU$70.53M	-11.36	-16.71%	―	―	-18.92%

Stellar Resources Limited Corporate Events

Stellar Resources Moves EGM Communication and Voting Online

Stellar Resources Limited has called an extraordinary general meeting of shareholders for 1 April 2026 at its Sydney offices, with materials for the meeting made available electronically via the company’s website, share registry portal and ASX announcements page. The company is moving away from physical mailouts, encouraging shareholders to access documents online, lodge directed proxy votes ahead of the meeting, and submit questions in advance, signalling a continued shift toward digital-first governance and investor engagement practices that may improve participation and reduce administrative costs.

The most recent analyst rating on (AU:SRZ) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Stellar Resources Limited stock, see the AU:SRZ Stock Forecast page.

Stellar passes 100kt tin milestone as Queen Hill resource jumps 41%

Stellar Resources has lifted the Mineral Resource Estimate for the Queen Hill deposit at its Heemskirk Tin Project by 41% to 4.11 million tonnes at 0.85% tin, boosting contained tin to 34,900 tonnes and driving the overall project resource to 9.51 million tonnes at 0.93% tin for 88,100 tonnes of contained metal. Including the St Dizier satellite deposit, Stellar’s total tin inventory has now surpassed 100,000 tonnes, reinforcing Heemskirk’s status as a tier-1, high-grade undeveloped tin project and providing a stronger resource base ahead of an updated Severn deposit estimate and completion of a prefeasibility study targeted for the first half of 2026.

The Queen Hill upgrade, derived from new drilling data and a broader mineralised envelope to account for ore sorting, has also delivered a 46% increase in Indicated Resources, enhancing confidence in mine planning and economic studies. Management says upcoming resource growth from Severn and the ongoing prefeasibility work are expected to further improve project scale and classification, potentially strengthening Stellar’s competitive position in the tin sector and offering greater clarity for investors and other stakeholders on future development options.

The most recent analyst rating on (AU:SRZ) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Stellar Resources Limited stock, see the AU:SRZ Stock Forecast page.

Stellar Resources Issues 6 Million New Shares Under Cleansing Notice

Stellar Resources Limited has issued 6,000,000 new fully paid ordinary shares, expanding its share capital without providing a prospectus-style disclosure under Part 6D.2 of the Corporations Act. The company has confirmed compliance with its continuous disclosure and financial reporting obligations and stated that there is no excluded information that would affect the market, signalling that the capital raising is being conducted within the standard regulatory framework for listed entities.

The notice is intended to cleanse the newly issued shares so they can be freely traded on the market, indicating an effort to maintain transparency and liquidity for investors. This step reassures shareholders and potential investors that Stellar remains in good standing with its reporting requirements and that no undisclosed price-sensitive information is being withheld in connection with the new share issue.

The most recent analyst rating on (AU:SRZ) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Stellar Resources Limited stock, see the AU:SRZ Stock Forecast page.

Stellar Resources Seeks ASX Quotation for 6 Million New Shares

Stellar Resources Limited has applied to the ASX for quotation of 6,000,000 ordinary fully paid shares, with an issue date of 9 February 2026. The new securities, lodged as a fresh announcement under Appendix 2A, expand the company’s quoted capital base and may influence its funding flexibility and liquidity for existing shareholders.

The application follows earlier disclosure that these securities were issued as part of a previously announced transaction, aligning with ASX listing rule requirements. While the filing is largely procedural, the addition of new quoted shares can have implications for capital structure, trading dynamics, and potential future corporate activity.

The most recent analyst rating on (AU:SRZ) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Stellar Resources Limited stock, see the AU:SRZ Stock Forecast page.

Stellar Resources Completes Granite Tor Tin Project Acquisition in Tasmania

Stellar Resources has completed the 100% acquisition of the Granite Tor Tin Project in northwest Tasmania after Mineral Resources Tasmania formally transferred the EL6/2023 exploration licence. The 122 km² Granite Tor area hosts the same style of Proterozoic basement and Devonian granites associated with the nearby Renison mine and Stellar’s Heemskirk Tin Project, strengthening the company’s geological footprint in the region.

With Granite Tor and the East Renison project, Stellar now controls more than 156 km² of ground in Tasmania’s key tin belt, providing a pipeline of potential development-stage projects to support future production at Heemskirk. The company plans soil and stream sampling followed by geophysics to refine drill targets, a step that could enhance its long-term production ambitions and consolidate its position in a world-class tin province.

The most recent analyst rating on (AU:SRZ) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Stellar Resources Limited stock, see the AU:SRZ Stock Forecast page.

Stellar Resources Plans Placement of Up to 10 Million New Shares

Stellar Resources Limited has lodged an Appendix 3B with the ASX outlining a proposed placement of up to 10 million new fully paid ordinary shares. The equity issue, scheduled for 4 May 2026, signals the company’s intention to raise additional capital via a share placement, which may impact its capital structure and dilution for existing shareholders while potentially providing funds to support ongoing operations or future initiatives once terms are finalised.

The most recent analyst rating on (AU:SRZ) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Stellar Resources Limited stock, see the AU:SRZ Stock Forecast page.

Stellar Secures Key Licence Consent and Tailings Site for Heemskirk Tin Project

Stellar Resources has secured consent from Australian Hualong Pty Ltd to apply for a mining licence over land adjacent to its Heemskirk Tin Project, identified as the preferred location for a tailings storage facility following assessment of more than 22 potential sites by engineering and environmental consultants. The company will incorporate this proposed tailings facility into its ongoing prefeasibility study, while separately assessing the nearby Avebury nickel plant as a possible processing route, moves that collectively advance Heemskirk towards development and could enhance project economics and infrastructure synergies as Stellar works to update resources and optimise its production case.

The most recent analyst rating on (AU:SRZ) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Stellar Resources Limited stock, see the AU:SRZ Stock Forecast page.

Stellar Resources Grants 11.8 Million Unquoted Performance Rights Under Incentive Scheme

Stellar Resources Limited has issued 11.8 million unquoted performance rights under its employee incentive scheme, effective 14 January 2026. The move underscores the company’s continued use of equity-based incentives to align staff interests with shareholder value, though the securities will not be quoted on the ASX, concentrating their impact on internal retention and motivation rather than immediate market liquidity.

The most recent analyst rating on (AU:SRZ) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Stellar Resources Limited stock, see the AU:SRZ Stock Forecast page.

Stellar Advances Heemskirk Tin Study as High-Grade Drilling and Metallurgy Boost Project Outlook

Stellar Resources’ quarterly report for the period ended 31 December 2025 highlights solid progress on the Prefeasibility Study for its Heemskirk Tin Project, with ongoing resource drilling, metallurgical test work and assessment of existing regional mine infrastructure. Infill and extensional diamond drilling at the Severn deposit delivered further high-grade tin intercepts, reinforcing the potential to upgrade and expand the 2023 Mineral Resource Estimate, while metallurgical results from Severn showed strong recoveries and clean concentrate, enhancing the project’s appeal as a future source of quality tin concentrate. The company expects to update mineral resources at Queen Hill and Severn in early 2026 and aims to complete the Prefeasibility Study in the first half of 2026, and it has begun non-binding discussions with potential offtake partners following interest at the Asia Tin Conference. At the East Renison Project, follow-up surface grab sampling returned spectacularly high-grade silver, antimony, gold, lead, zinc, copper and tin assays, underscoring additional exploration upside within Stellar’s broader Tasmanian portfolio.

The most recent analyst rating on (AU:SRZ) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Stellar Resources Limited stock, see the AU:SRZ Stock Forecast page.

Stellar Resources Director Andrew Boyd Granted 16.6m Additional Performance Rights

Stellar Resources Limited has reported a change in the interests of director Andrew Boyd, who has been issued 16.6 million additional performance rights following shareholder approval at the company’s annual general meeting on 26 November 2025, taking his and his related parties’ total holding to 32.64 million performance rights alongside existing ordinary shares. The nil-consideration issuance, which materially increases Boyd’s exposure to equity-based incentives, aligns his interests more closely with shareholders and underscores the company’s continued use of performance rights as a key component of director remuneration and long-term incentive structures.

Stellar Resources Director Simon Taylor Granted 21.8 Million Additional Performance Rights

Stellar Resources Limited has disclosed a change in director Simon Taylor’s relevant interests in the company’s securities, lodged with the ASX under listing rule 3.19A.2. Taylor, through his indirect holdings in Jimzbal Pty Ltd and Jimbzal Pty Ltd, received an additional 21.8 million performance rights at no consideration, increasing his total performance rights from 20.38 million to 42.18 million, while his fully paid ordinary shareholding remains at 34.88 million shares. The new performance rights were issued following shareholder approval at the company’s annual general meeting on 26 November 2025, underscoring an incentive-based alignment of the director’s interests with long-term company performance and providing stakeholders with updated transparency on board-level equity exposure.

Stellar Resources to Issue 38.4 Million Unquoted Performance Rights

Stellar Resources Limited has notified the market that it will issue 38.4 million unquoted performance rights under the ASX code SRZAM, effective 19 December 2025. The move significantly expands the company’s pool of performance-based equity instruments, which may impact capital structure and align management or employee incentives with future corporate performance, though specific terms and conditions of the rights were not disclosed in the filing.

Stellar Resources Reports Major Tin Discovery at Heemskirk Project

Stellar Resources Limited has announced significant progress in its Heemskirk Tin Project with a notable 51m wide zone of tin mineralization intersected in their latest drilling at the Severn prospect. This finding, which includes high-grade tin intervals, is expected to bolster resource estimates and support the upgrade of mineral classifications, enhancing the project’s value to stakeholders and reinforcing the company’s positioning in the global tin market.

Stellar Resources Reports Positive Metallurgical Results for Heemskirk Tin Project

Stellar Resources Limited announced positive metallurgical results from its Severn Deposit within the Heemskirk Tin Project, indicating strong tin recoveries and high-grade, low-impurity concentrates. The results, overseen by a former Chief Metallurgist from a nearby tin mine, suggest a robust process flowsheet and potential commercial advantages due to low smelter penalties. The company has initiated preliminary discussions with potential offtake partners, highlighting the project’s strategic advantage in a tightening global tin market.