Summit Minerals Limited (SUM) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: N/A
• Average Volume (3M): 318.67K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.99
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): N/A
• Shares Outstanding: 143,873,250
• 10 Day Avg. Volume: 416,738
• 30 Day Avg. Volume: 318,669
• PEG Ratio: 0.02
• Price to Book (P/B): 0.23
• Price to Sales (P/S): 28.01
• P/FCF Ratio: -0.89
• 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$0.05 ▲(17.50% Upside)

The score is held back primarily by weak financial performance, marked by sustained losses and ongoing cash burn despite a debt-free balance sheet. Technical indicators are supportive with price above major moving averages and a positive MACD, but the elevated RSI points to overbought conditions. Valuation cannot be assessed from the provided data, keeping that component neutral.

Positive Factors

Debt-free balance sheet

No reported debt materially lowers solvency and financing risk, giving the company structural flexibility to absorb operating losses and delay immediate refinancing. Over a 2–6 month horizon this reduces distress probability and preserves capacity for strategic funding if needed.

Positive equity across 2023–2025

Sustained positive shareholders' equity provides a capital buffer against ongoing losses and supports continuity of operations. While equity declined in 2025, the remaining equity base still underpins creditworthiness and potential to raise capital without immediate insolvency risk.

Cash losses smaller than accounting losses

Free cash flow being less negative than accounting losses indicates a portion of losses are non-cash (depreciation, impairments). This structural distinction means cash runway may be longer than net loss suggests, moderating short-term liquidity pressure while underlying operations improve.

Negative Factors

Sustained operating losses

Multi-year operating losses and deeply negative margins erode capital and limit ability to self-fund growth or capital expenditure. Persisting unprofitability undermines long-term viability absent structural change, increasing reliance on external financing and shareholder dilution risk.

Weak cash generation

Consistent negative operating and free cash flow means the business consumes cash and must access external funding to sustain operations. This structural cash deficit reduces strategic optionality, raises refinancing risk, and can force dilutive equity raises or asset sales within months if not corrected.

Volatile revenue and widening losses

Significant top-line volatility and a sharp revenue decline in 2025 weaken operating leverage and predictability. Structural instability in revenue hampers margin recovery, planning, and investment, making durable profitability harder to achieve without sustainable demand or cost restructuring.

Summit Minerals Limited Business Overview & Revenue Model

Company Description

Summit Minerals Limited engages in the acquisition, exploration, and development of battery mineral projects in Australia. The company primarily explores for uranium, gold, antimony, and pegmatite lithium deposits. It holds 100% interests in the Stallion Rare Earth Element (REE) uranium project comprising one exploration tenement that covers an area of 18 square kilometers located in south-eastern Western Australia; the Windfall Antimony project, which includes one exploration tenement that covers an area of 234 square kilometers situated in north-east New South Wales; and the Phillips River Lithium project consisting of two granted exploration tenements covering an area of 42.6 square kilometers located in Western Australia. The company also holds 100% interests in the Northern Lithium REE project comprising two granted exploration tenements covering an area of 78 square kilometers located in Western Australia; and the Bridgetown Lithium project, which includes two granted exploration tenements located north and south of Bridgetown in Western Australia. Summit Minerals Limited was incorporated in 2021 and is headquartered in Mount Hawthorn, Australia.

How the Company Makes Money

Summit Minerals Limited generates revenue through the exploration and development of mineral resource projects, with the aim of discovering commercially viable deposits that can be sold or developed into mining operations. The company may enter into joint ventures or partnerships with other mining companies to share the risks and costs associated with exploration and development. Additionally, once mineral deposits are proven to be economically feasible, Summit Minerals can either sell the rights to these deposits to larger mining companies or proceed to the extraction phase, thereby earning revenue from the sale of extracted minerals to industrial clients. Factors such as commodity prices, exploration success, and strategic partnerships significantly impact the company's earnings.

Summit Minerals Limited Financial Statement Overview

Summary

Income statement is very weak with persistent losses (2022–2025) and deeply negative margins, alongside volatile revenue and widening losses. Balance sheet is a relative positive with no reported debt and positive equity, but equity declined in 2025 and returns are meaningfully negative. Cash flow is also weak with ongoing negative operating cash flow and free cash flow, indicating continued cash burn.

Income Statement

Annual results show very weak profitability: the company has remained loss-making from 2022–2025, with deeply negative operating and net margins in 2024–2025. Revenue is volatile and small relative to the cost base—rising in 2024 but falling sharply in 2025—while losses widened, indicating limited operating leverage and poor earnings quality at this stage.

Balance Sheet

Balance sheet is a relative bright spot with no reported debt and positive equity in 2023–2025, which reduces financial risk. However, equity declined from 2024 to 2025 and returns on equity are meaningfully negative in recent years, reflecting ongoing value dilution from sustained losses.

Cash Flow

Cash generation is weak: operating cash flow and free cash flow are negative each year shown, and free cash flow deterioration continued in 2025. While free cash flow losses are smaller than accounting losses in several years, the business still consumes cash, increasing reliance on external funding if this persists.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022
Income Statement
Total Revenue	97.64K	97.64K	418.38K	66.29K	0.00
Gross Profit	97.64K	97.64K	418.38K	66.29K	0.00
EBITDA	-4.66M	-4.66M	-3.20M	-791.61K	0.00
Net Income	-4.90M	-4.90M	-4.82M	-959.81K	-1.64M
Balance Sheet
Total Assets	11.78M	11.78M	13.35M	6.10M	828.42K
Cash, Cash Equivalents and Short-Term Investments	1.41M	1.41M	2.23M	2.46M	800.75K
Total Debt	0.00	0.00	0.00	0.00	0.00
Total Liabilities	133.07K	133.07K	205.93K	352.97K	1.01M
Stockholders Equity	11.65M	11.65M	13.14M	5.75M	-179.95K
Cash Flow
Free Cash Flow	-3.07M	-3.07M	-3.82M	-1.78M	-398.72K
Operating Cash Flow	-1.49M	-1.49M	-886.19K	-881.26K	-398.72K
Investing Cash Flow	-1.58M	-1.58M	-2.62M	-687.81K	-14.86K
Financing Cash Flow	2.25M	2.25M	3.28M	3.23M	514.30K

Summit Minerals Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.04
• 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:SUM, the sentiment is Neutral. The current price of 0.04 is below the 20-day moving average (MA) of 0.04, above the 50-day MA of 0.04, and above the 200-day MA of 0.04, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 49.08 is Neutral, neither overbought nor oversold. The STOCH value of 52.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:SUM.

Summit Minerals 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%
SUM	52 Neutral	―	―	―	―	―	―
AIV	47 Neutral	AU$5.98M	-4.58	-38.30%	―	―	61.60%
OKJ	46 Neutral	AU$7.59M	-14.31	-38.56%	―	―	21.62%
KLR	45 Neutral	AU$23.58M	-51.61	―	―	―	―
SLZ	43 Neutral	AU$8.78M	-0.63	-78.12%	―	―	-349.06%
PRL	38 Underperform	AU$8.27M	-5.00	-26.98%	―	―	4.35%

Summit Minerals Limited Corporate Events

Summit Minerals Launches Drone Aeromagnetic Survey at Keystone Project in Nevada

Summit Minerals has commenced a low-altitude UAV aeromagnetic survey at its recently acquired Keystone Project in northern Nevada, engaging Pioneer Exploration Consultants to fly 210 line-kilometres over the Keystone Main, Marble Rock and 599 prospects. The high‑resolution magnetic data, now being processed with results expected in about three weeks, will underpin the first significant exploration work at Keystone since mining ceased in 1943 and is intended to refine structural targets for a preliminary drilling campaign planned for early 2026, marking a key step in building a modern geological model and potentially revitalising this historic mining area.

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

Summit Minerals Sets February 2026 General Meeting, Encourages Proxy Voting

Summit Minerals Limited has called a General Meeting of shareholders for 10:00am (WST) on 5 February 2026 in Cottesloe, Western Australia, and is distributing the Notice of Meeting and related documents electronically via its website and ASX announcements page rather than posting hard copies by default. The company is urging shareholders to lodge directed proxy votes, preferably appointing the Chair, ahead of the stated proxy cut-off, with all resolutions to be decided by poll based on proxies received and votes cast at the meeting, underscoring the importance of shareholder participation in upcoming corporate decisions.

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

Summit Minerals Rebrands as Western Ridge Resources After Keystone Deal

Summit Minerals Limited, an Australian-listed explorer of battery and critical minerals, is expanding its international footprint through strategic projects in Nevada and Brazil, focused on high-demand metals such as silver, tungsten, niobium and tantalum. The company plans to change its name to Western Ridge Resources Limited and adopt the ASX ticker WRX, aligning its corporate identity with the recent acquisition of the polymetallic Keystone Project in Nevada, a mining-friendly jurisdiction. This move, subject to shareholder approval at a general meeting on 5 February 2026, signals a strategic shift toward high-grade silver and other critical technology metals, positioning the company to benefit from rising global demand and to enhance long-term growth prospects and value creation for shareholders.

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

Summit Minerals Acquires Historic Keystone Mine in Nevada

Summit Minerals Limited has announced the acquisition of the historic Keystone Mine in Nevada, known for its high-grade silver, gold, and tungsten deposits. This acquisition positions Summit strategically within the emerging Pershing silver and base metals trend, enhancing its portfolio with a polymetallic project that complements its existing assets. The Keystone Project’s location in a well-established mining district and its proximity to significant mining infrastructure provide Summit with a promising opportunity to expand its operations and increase shareholder value.

Summit Minerals Limited Announces Proposed Securities Issue

Summit Minerals Limited has announced a proposed issue of 40,404,000 ordinary fully paid securities, with the issue date set for February 5, 2026. This strategic move is likely aimed at raising capital to support the company’s operations and growth initiatives, potentially impacting its market positioning and offering new opportunities for stakeholders.

Summit Minerals Issues 5 Million Unquoted Options

Summit Minerals Limited has announced the issuance of 5,000,000 unquoted options exercisable at $0.045, which will expire on December 8, 2028. This move is part of a previously announced transaction and is not intended to be quoted on the ASX, indicating a strategic financial maneuver to potentially bolster future capital or incentivize stakeholders.

Summit Minerals Announces Director’s Interest Change

Summit Minerals Limited has announced a change in the interests of its director, Matthew Cobb, involving the acquisition and disposal of performance rights and options. This change, approved by shareholders at the Annual General Meeting, results in Cobb holding 2,900,000 performance rights expiring in December 2028, and 1,000,000 options exercisable at $0.22 expiring in April 2028. The adjustment in Cobb’s securities holdings reflects strategic decisions made by the company to align with shareholder interests and potentially impact the company’s governance and market perception.

Summit Minerals Limited Announces Quotation of New Securities

Summit Minerals Limited has announced the quotation of 22,510,109 fully paid ordinary securities on the Australian Securities Exchange (ASX), effective from November 5, 2025. This move is part of a previously announced transaction, indicating a strategic step in enhancing the company’s capital structure and market presence, potentially impacting its operational capabilities and stakeholder interests.

Summit Minerals Limited Announces Quotation of New Securities on ASX

Summit Minerals Limited has announced the quotation of 13,457,878 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of November 5, 2025. This move is part of previously announced transactions and is expected to enhance the company’s liquidity and investor base, potentially strengthening its position in the mining sector.

Summit Minerals Announces Entitlement Offer Results and Shortfall Allocation

Summit Minerals Limited announced the results of its non-renounceable entitlement offer, which closed on 29 October 2025. The offer allowed shareholders to subscribe for new shares at $0.03 each, resulting in the issuance of 13,457,878 new shares, representing 37.41% of the total entitlements. The shortfall of 22,510,109 shares will be allocated at the discretion of CPS Capital Group. Proceeds from the offer will fund exploration activities in Brazil, project acquisitions, and general corporate purposes, potentially enhancing the company’s operational capabilities and market positioning.

Summit Minerals Expands Equador Project Anomalism and Secures Funding

Summit Minerals Limited has reported significant progress in its Equador Project in Brazil, with soil sampling revealing extensive anomalism across more than 50% of the project area. This development enhances the prospectivity of the site for rare earth elements, particularly niobium and tantalum. The company has also completed a $1.67 million placement and rights issue, supported by new investors, to fund further exploration activities. These advancements position Summit Minerals to potentially capitalize on the growing demand for rare earth elements, thereby strengthening its market presence and offering promising opportunities for stakeholders.