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Strickland Metals Ltd (AU:STK)
ASX:STK
Australian Market

Strickland Metals Ltd (STK) AI Stock Analysis

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AU:STK

Strickland Metals Ltd

(Sydney:STK)

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Neutral 51 (OpenAI - 5.2)
Rating:51Neutral
Price Target:
AU$0.19
▲(0.53% Upside)
The score is mainly constrained by weak cash generation (negative operating and free cash flow) despite FY2025 profitability, and a very high P/E that limits valuation support. A strong, low-leverage balance sheet and neutral-to-slightly positive technical momentum partially offset these risks.
Positive Factors
Resource Expansion
The increase in inferred resources by 16% to 8.6 million ounces of gold equivalent underscores the project's Tier-1 status and growth potential, enhancing long-term value.
Financial Position
A strong balance sheet with low leverage and substantial equity provides financial flexibility, supporting long-term strategic initiatives and resilience against market fluctuations.
Strategic Focus
By concentrating resources on the Rogozna Project, Strickland Metals can optimize its exploration efforts, potentially leading to more efficient resource development and enhanced project outcomes.
Negative Factors
Cash Flow Challenges
Persistent negative cash flows indicate ongoing cash burn, which can strain financial resources and limit the company's ability to fund future exploration and development activities.
Volatile Earnings History
A history of volatile earnings and prior losses reduces confidence in the sustainability of recent profitability, potentially impacting investor sentiment and long-term planning.
Performance Rights Lapse
The lapse of performance rights may impact employee motivation and retention, potentially affecting operational efficiency and alignment with company growth objectives.

Strickland Metals Ltd (STK) vs. iShares MSCI Australia ETF (EWA)

Strickland Metals Ltd Business Overview & Revenue Model

Company DescriptionStrickland Metals Limited operates as a mineral exploration company in Australia. The company primarily explores for gold, zinc, lead, copper, and silver deposits. Its flagship projects include the Millrose gold project covering an area of approximately 600 square kilometers located in Western Australia; and Horse Well gold project totaling an area of 1,000 square kilometers located in the north-eastern Western Australian Goldfields. The company was formerly known as Alloy Resources Limited and changed its name to Strickland Metals Limited in August 2020. Strickland Metals Limited was incorporated in 2004 and is based in Mount Pleasant, Australia.
How the Company Makes MoneyStrickland Metals Ltd generates revenue primarily through the exploration and development of mineral resources. The company makes money by discovering and developing mining projects that contain valuable metals such as gold and other base metals. Once a mineral deposit is identified, Strickland Metals may either develop the project further into a mining operation or sell the rights to other mining companies for a profit. The company's revenue streams include the sale of mineral rights, joint ventures with other mining companies, and potentially the direct sale of extracted minerals. Strategic partnerships and collaborations with other industry players also play a significant role in contributing to the company's earnings, as they can provide additional resources and expertise necessary for successful project development.

Strickland Metals Ltd Financial Statement Overview

Summary
FY2025 shows a clear inflection with revenue rising sharply and a return to profitability, supported by a very low-debt balance sheet. However, earnings quality is weakened by persistently negative operating cash flow and deeply negative free cash flow, plus a volatile multi-year track record and very low ROE.
Income Statement
55
Neutral
FY2025 shows a major step-change with revenue rising sharply (from essentially nil to ~9.1m) and a return to profitability (net income ~0.4m). Margins in FY2025 are positive (net margin ~4.6%, EBIT margin ~19%), indicating improved operating leverage. However, the track record is volatile: FY2024–FY2021 were loss-making with little to no revenue, which reduces confidence in earnings durability.
Balance Sheet
82
Very Positive
The balance sheet is conservatively positioned with very low leverage (debt-to-equity ~0.6% in FY2025) and a large equity base (~124.7m) relative to debt (~0.8m). Assets have grown meaningfully over time (to ~134.9m in FY2025), supporting financial flexibility. The key weakness is still low returns on equity (FY2025 ROE ~0.3%) and a history of negative ROE in prior years, suggesting capital is not yet generating strong shareholder returns.
Cash Flow
29
Negative
Cash generation remains weak: operating cash flow is negative in FY2025 (~-2.9m) and has been consistently negative across the period, indicating ongoing cash burn. Free cash flow is also deeply negative in FY2025 (~-28.8m) and worse than prior years, pointing to heavy investment/spend requirements. While FY2025 earnings turned positive, cash flow did not follow, highlighting a disconnect between accounting profit and underlying cash performance.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue1.16M9.14M0.000.00240.00K0.00
Gross Profit1.01M9.14M-219.64K-210.84K144.95K-3.69K
EBITDA1.75M2.06M-2.85M-2.19M-4.09M-3.86M
Net Income418.32K418.32K-6.58M-2.57M-4.19M-3.86M
Balance Sheet
Total Assets143.29M134.92M86.93M50.62M39.56M12.50M
Cash, Cash Equivalents and Short-Term Investments24.42M24.42M24.51M1.70M4.07M1.51M
Total Debt787.08K787.08K207.85K271.39K329.14K0.00
Total Liabilities18.54M10.18M7.30M3.91M2.53M452.63K
Stockholders Equity124.74M124.74M79.62M46.71M37.03M12.05M
Cash Flow
Free Cash Flow-18.98M-28.78M-17.93M-15.95M-19.99M-5.86M
Operating Cash Flow-2.71M-2.89M-2.90M-2.02M-1.44M-755.13K
Investing Cash Flow-3.04M-2.49M18.90M-11.83M-18.78M-4.94M
Financing Cash Flow5.29M5.29M6.82M11.48M22.78M6.68M

Strickland Metals Ltd Technical Analysis

Technical Analysis Sentiment
Negative
Last Price0.19
Price Trends
50DMA
0.20
Negative
100DMA
0.19
Positive
200DMA
0.16
Positive
Market Momentum
MACD
<0.01
Positive
RSI
44.11
Neutral
STOCH
25.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:STK, the sentiment is Negative. The current price of 0.19 is below the 20-day moving average (MA) of 0.21, below the 50-day MA of 0.20, and above the 200-day MA of 0.16, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 44.11 is Neutral, neither overbought nor oversold. The STOCH value of 25.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:STK.

Strickland Metals 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%
56
Neutral
AU$886.96M-394.44-1.99%42.55%
53
Neutral
AU$685.85M-23.88-90.88%
51
Neutral
AU$457.61M950.000.41%
51
Neutral
AU$777.54M-8.25-8.58%28.45%79.93%
51
Neutral
AU$473.69M-72.16-6.04%-76.36%
50
Neutral
AU$591.65M-11.83-150.61%-186.15%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:STK
Strickland Metals Ltd
0.19
0.12
171.43%
AU:MTM
Mt Monger Resources Ltd.
0.88
0.68
340.00%
AU:29M
29metals Ltd.
0.47
0.27
137.37%
AU:LRV
Larvotto Resources Limited
1.45
0.80
124.03%
AU:AZY
Antipa Minerals Limited
0.70
0.33
89.19%
AU:SMI
Santana Minerals Ltd.
1.07
0.57
113.00%

Strickland Metals Ltd Corporate Events

Strickland Metals Extends High-Grade Gold Zone at Serbia’s Rogozna Project
Feb 1, 2026

Strickland Metals has reported further strong gold assay results from diamond drilling at the Gradina deposit within its Rogozna Project in Serbia, where the current mineral resource stands at 1.2 million ounces of gold. Recent holes in the so‑called “Gap Zone” between the northern and southern parts of Gradina intersected substantial widths of mineralisation, reinforcing the potential to grow the existing resource and confirming that the deposit remains open in all directions, including towards surface. Management has flagged Gradina as a strategic pillar for the early years of Rogozna’s future operations, and the latest results will shape the company’s 2026 drilling campaign as it targets additional resource growth and potential extensions on the deposit’s south‑eastern flank.

The most recent analyst rating on (AU:STK) stock is a Hold with a A$0.20 price target. To see the full list of analyst forecasts on Strickland Metals Ltd stock, see the AU:STK Stock Forecast page.

Strickland Metals Lifts Rogozna Resources With Maiden Gradina Gold Estimate
Jan 22, 2026

Strickland Metals has reported a maiden inferred mineral resource for the Gradina deposit at its Rogozna Project in Serbia, estimating 12 million tonnes at 3.0 grams per tonne gold for 1.2 million ounces, lifting total Rogozna project resources by about 16% to 8.6 million ounces of gold equivalent. The high-grade underground-constrained resource, low discovery cost and mineralisation remaining open in all directions underscore significant growth potential, supported by the largest-ever annual drilling campaign at Rogozna in 2025 and a planned resource update for the 5.3 million-ounce Shanac deposit in early 2026, while the company’s A$38.23 million in cash and liquid investments leaves it well funded for an aggressive 2026 exploration and expansion strategy.

The most recent analyst rating on (AU:STK) stock is a Hold with a A$0.22 price target. To see the full list of analyst forecasts on Strickland Metals Ltd stock, see the AU:STK Stock Forecast page.

Strickland Delivers More High-Grade Drilling Hits at Serbia’s 5.3Moz Shanac Deposit
Jan 19, 2026

Strickland Metals has reported further wide and high-grade copper-gold drill intercepts from three recent diamond drill holes at the 5.3Moz gold-equivalent Shanac Deposit within its Rogozna Project in Serbia, underscoring both bulk-tonnage and higher-grade zones of mineralisation. The latest results, which include long intervals above 1g/t AuEq and higher-grade sub-intervals over 6g/t AuEq, will feed into an updated Shanac Mineral Resource Estimate due later in the March quarter, while additional assays remain pending. Management emphasised that the new intercepts confirm extensions of mineralisation and better define higher-grade domains, reinforcing Shanac’s scale and quality at a time of strong metal prices. Backed by a robust balance sheet with $41.8 million in cash and liquids as at 30 September 2025, Strickland positions itself for a busy 2026 exploration program and potentially enhanced project economics and valuation as resources are refined.

The most recent analyst rating on (AU:STK) stock is a Hold with a A$0.22 price target. To see the full list of analyst forecasts on Strickland Metals Ltd stock, see the AU:STK Stock Forecast page.

Strickland Metals to Release 379 Million Escrowed Shares Linked to Rogozna Acquisition
Dec 22, 2025

Strickland Metals will release 379,777,778 fully paid ordinary shares from voluntary escrow on 1 January 2026, 18 months after their issue, with no change to the company’s total issued capital as the shares are already quoted on the ASX. These escrowed shares were originally issued to ISIHC Ltd as part of the consideration for Strickland’s acquisition of the Rogozna Project completed on 1 July 2024, meaning that from early 2026 a substantial block of stock associated with that transaction will become freely tradeable, potentially affecting liquidity and share ownership dynamics in the market.

The most recent analyst rating on (AU:STK) stock is a Buy with a A$0.60 price target. To see the full list of analyst forecasts on Strickland Metals Ltd stock, see the AU:STK Stock Forecast page.

Strickland Metals Unveils Promising Drilling Results at Copper Canyon
Dec 14, 2025

Strickland Metals Limited has announced new assay results from its Copper Canyon Deposit, part of the Rogozna Project in Serbia, revealing significant copper-gold mineralization. The drilling results highlight the potential to expand the mineral resource at Copper Canyon, reinforcing its strategic importance alongside other deposits in the Rogozna Project. The company remains financially robust, with ongoing drilling efforts aimed at further exploration and development.

The most recent analyst rating on (AU:STK) stock is a Buy with a A$0.60 price target. To see the full list of analyst forecasts on Strickland Metals Ltd stock, see the AU:STK Stock Forecast page.

Strickland Metals Boosts Rogozna Project Resources with New Gradina Estimate
Dec 9, 2025

Strickland Metals Limited has announced a maiden Mineral Resource Estimate (MRE) for the Gradina Deposit, part of its Rogozna Project in Serbia, which has increased the project’s total inferred resources by 16% to 8.6 million ounces of gold equivalent. This development underscores the project’s Tier-1 status and highlights its growth potential, as the mineralization remains open in multiple directions. The company is well-funded and continues drilling to further expand the resource base, with an update for the Shanac Deposit expected in early 2026.

The most recent analyst rating on (AU:STK) stock is a Buy with a A$0.60 price target. To see the full list of analyst forecasts on Strickland Metals Ltd stock, see the AU:STK Stock Forecast page.

Strickland Metals Ltd Announces Cessation of Performance Rights
Dec 1, 2025

Strickland Metals Ltd announced the cessation of 2,700,000 performance rights due to the lapse of conditional rights, as the conditions were not met or became incapable of being satisfied. This development may impact the company’s capital structure and could have implications for stakeholders regarding the company’s operational strategies and market positioning.

The most recent analyst rating on (AU:STK) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Strickland Metals Ltd stock, see the AU:STK Stock Forecast page.

Strickland Metals Expands High-Grade Gold Discovery at Rogozna Project
Nov 30, 2025

Strickland Metals Limited has announced significant new drilling results from the Kotlovi Prospect within its Rogozna Project in Serbia. The recent high-grade gold intersections have expanded the known mineralization, which now extends over a 300m strike length and remains open in all directions. This development underscores the potential for significant growth at the Rogozna Project. With seven rigs currently operating and additional results expected soon, Strickland is well-positioned to advance its exploration efforts, supported by a strong financial position with $41.8 million in cash and liquids as of September 2025.

The most recent analyst rating on (AU:STK) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Strickland Metals Ltd stock, see the AU:STK Stock Forecast page.

Strickland Metals Director Exercises Performance Rights
Nov 28, 2025

Strickland Metals Limited announced a change in the director’s interest, specifically involving Anthony McClure. The company reported that McClure exercised 3,000,000 performance rights, resulting in the acquisition of an equal number of fully paid ordinary shares. This transaction reflects a strategic move by the director to capitalize on the company’s share performance, which could potentially influence investor confidence and market perception.

The most recent analyst rating on (AU:STK) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Strickland Metals Ltd stock, see the AU:STK Stock Forecast page.

Strickland Metals Ltd Issues New Securities to Boost Market Position
Nov 28, 2025

Strickland Metals Ltd has announced the issuance of 22,700,000 fully paid ordinary securities, which will be quoted on the Australian Securities Exchange (ASX) under the code STK. This move is part of the company’s strategy to enhance its financial standing and support its ongoing operations, potentially impacting its market positioning and offering new opportunities for stakeholders.

The most recent analyst rating on (AU:STK) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Strickland Metals Ltd stock, see the AU:STK Stock Forecast page.

Strickland Metals Secures Shareholder Approval for AGM Resolutions
Nov 24, 2025

Strickland Metals Limited announced that all resolutions proposed at their Annual General Meeting were passed by shareholders. The resolutions included the adoption of the remuneration report and the re-election of directors, which were carried by significant majorities. This outcome reflects strong shareholder support and may positively impact the company’s governance and strategic direction.

The most recent analyst rating on (AU:STK) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Strickland Metals Ltd stock, see the AU:STK Stock Forecast page.

Strickland Metals Reports Strong Drilling Results at Shanac Deposit
Nov 19, 2025

Strickland Metals Limited has reported promising results from its ongoing drilling at the Shanac Deposit within the Rogozna Project in Serbia. The latest assays from two diamond drill-holes reveal extensive gold and copper mineralization, reinforcing the potential for both bulk-tonnage and higher-grade zones. These findings highlight the growth potential of the current 5.3Moz AuEq Mineral Resource, with further results expected soon. The company remains well-funded, with seven drilling rigs in operation and plans to update the mineral resource estimate in early 2026.

The most recent analyst rating on (AU:STK) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Strickland Metals Ltd stock, see the AU:STK Stock Forecast page.

Strickland Metals Reports Exceptional Drilling Results at Rogozna Project
Nov 11, 2025

Strickland Metals Limited announced exceptional drilling results from the Gradina Prospect within their Rogozna Project in Serbia, revealing over 700 meters of continuous gold and zinc mineralization. These results, particularly from holes ZRSD25212 and ZRSD25220, indicate significant potential for further growth of the Gradina Deposit, with mineralization open along strike to the southeast. The company is well-funded and continues its drilling campaign with the aim of delivering a maiden Mineral Resource Estimate by late 2025.

The most recent analyst rating on (AU:STK) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Strickland Metals Ltd stock, see the AU:STK Stock Forecast page.

Strickland Metals Ltd Issues 1 Million Performance Rights
Nov 4, 2025

Strickland Metals Ltd announced the issuance of 1,000,000 unquoted performance rights under an employee incentive scheme. This move is part of the company’s strategy to incentivize its workforce, potentially impacting its operational efficiency and aligning employee interests with company growth objectives.

The most recent analyst rating on (AU:STK) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Strickland Metals Ltd stock, see the AU:STK Stock Forecast page.

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: Jan 31, 2026