Tennant Minerals (TMS) AI Stock Analysis

• Market Cap: AU$8.53M
• Dividend Yield: N/A
• Average Volume (3M): 1.10M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.21
• Revenue Growth: N/A
• EPS Growth: 69.39%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 1,065,890,400
• 10 Day Avg. Volume: 1,572,868
• 30 Day Avg. Volume: 1,104,457
• PEG Ratio: 0.00
• Price to Book (P/B): 0.34
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -4.48
• 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: 45 Neutral
• Price Target: AU$0.01 ▲(0.00% Upside)

The score is primarily constrained by weak financial performance—no revenue, ongoing losses, and continued cash burn—despite the benefit of zero reported debt and improved equity. With limited technical indicator data and an earnings-negative valuation profile (negative P/E and no dividend yield provided), the overall risk/visibility remains unfavorable.

Positive Factors

Resource Expansion

The new drilling program at Bluebird aims to expand the high-grade gold zone, potentially increasing the company's resource base and enhancing long-term operational depth.

Shareholder Support

Strong shareholder support for key resolutions reflects confidence in management and strategic initiatives, which can positively impact governance and long-term strategic execution.

Project Development

The maiden resource estimate at Bluebird marks a critical step towards project development, enhancing Tennant Minerals' potential for early-stage production and future growth.

Negative Factors

No Revenue

Lack of revenue indicates the company is still pre-commercial, which poses a risk to financial sustainability and requires reliance on external funding.

Cash Flow Concerns

Persistent negative cash flow highlights ongoing cash burn, necessitating external financing and posing a risk to long-term financial health.

Ongoing Losses

Continuous operating losses without a clear path to profitability challenge the company's ability to achieve sustainable financial performance.

Tennant Minerals Business Overview & Revenue Model

Company Description

Tennant Minerals NL engages in the exploration, development, and mining of minerals. It holds a 100% interest in the Barkly gold-copper project that comprises two exploration licenses and located in the Northern Territory, Australia. The company was formerly known as Blina Minerals NL and changed its name to Tennant Minerals NL in March 2021. The company was incorporated in 1999 and is based in West Leederville, Australia.

How the Company Makes Money

Tennant Minerals Limited makes money through the exploration and potential development of mineral deposits, primarily copper and gold. The company generates revenue by discovering economically viable mineral resources, which can then be developed either through direct mining operations or through partnerships and joint ventures with other mining companies. Additionally, Tennant Minerals may engage in the sale or optioning of its exploration projects to larger mining companies, thereby monetizing its exploration success. The success of its revenue model is significantly influenced by global commodity prices, exploration success rates, and strategic partnerships within the mining industry.

Tennant Minerals Financial Statement Overview

Summary

Financial quality is weak due to zero reported revenue, persistent operating losses, and ongoing negative operating/free cash flow. Positives include no reported debt and a larger equity base in FY2025, but execution risk remains high until revenue and sustainable cash generation are demonstrated.

Income Statement

The company reports no revenue across the annual periods provided, indicating it is still pre-commercial or not generating sales at the financial-statement level. Losses remain sizable with negative operating profit every year; while the loss narrowed in FY2025 versus FY2024, profitability is still deeply negative and there is no visible margin structure to assess due to zero revenue.

Balance Sheet

The balance sheet shows no reported debt and a meaningfully larger equity base in FY2025, which reduces financial leverage risk and provides funding flexibility. However, returns on equity are negative due to ongoing losses, and the balance sheet strength ultimately depends on the company’s ability to translate its asset base into future revenue and earnings.

Cash Flow

Operating cash flow and free cash flow are consistently negative, reflecting a business that is consuming cash to fund operations. The cash burn improved materially in FY2025 versus FY2024, but cash generation remains absent and continued negative free cash flow implies ongoing reliance on external financing or existing cash reserves.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	0.00	0.00	0.00	0.00	0.00
EBITDA	-1.43M	-1.43M	-3.92M	-5.03M	-2.68M	-2.79M
Net Income	-1.43M	-1.43M	-3.92K	-5.03M	-2.68M	-2.78M
Balance Sheet
Total Assets	14.30M	14.30M	4.68M	4.68M	4.86M	1.50M
Cash, Cash Equivalents and Short-Term Investments	1.18M	1.18M	4.47M	4.37M	4.71M	1.46M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	299.10K	299.10K	505.76K	1.20M	970.50K	136.67K
Stockholders Equity	14.01M	14.01M	4.18M	3.49M	3.89M	1.36M
Cash Flow
Free Cash Flow	-1.08M	-1.08M	-4.51M	-4.96M	-1.89M	-979.02K
Operating Cash Flow	-1.08M	-1.08M	-4.51M	-4.96M	-1.89M	-979.02K
Investing Cash Flow	-2.69M	-2.69M	0.00	0.00	0.00	2.96K
Financing Cash Flow	482.82K	482.82K	4.61M	4.63M	5.14M	2.42M

Tennant Minerals 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%
QXR	46 Neutral	AU$9.54M	―	-120.40%	―	―	-123.53%
TMS	45 Neutral	AU$8.53M	-6.67	-16.39%	―	―	69.39%
AKN	45 Neutral	AU$15.56M	-1.15	-71.65%	―	―	―
GES	44 Neutral	AU$4.70M	-3.45	-63.22%	―	―	-7.41%
MML	40 Underperform	AU$9.25M	-1.28	-81.83%	―	―	―

Tennant Minerals Corporate Events

Tennant Minerals Launches New Drilling Program at Bluebird

Tennant Minerals has commenced a new diamond drilling program at its Bluebird discovery to further define and extend a high-grade gold zone. This initiative aims to optimize the processing and recovery of gold, copper, silver, and bismuth, potentially enhancing the value of the mineral resource. The drilling targets an under-drilled gold zone, which could expand the current resource and increase the company’s operational depth, potentially impacting its market positioning and stakeholder value.

Tennant Minerals Secures Shareholder Approval for Key Resolutions

Tennant Minerals Ltd, a company involved in the mining industry, announced that all resolutions at their Annual General Meeting were passed with the required majority. The resolutions included the adoption of the Remuneration Report, the re-election of a director, and the ratification of prior issues under specific listing rules. This successful passing of resolutions reflects strong shareholder support and may positively impact the company’s governance and strategic initiatives.

Tennant Minerals Advances Bluebird Project with Maiden Resource Estimate

Tennant Minerals announced a significant milestone with the completion of its maiden Mineral Resource Estimate for the Bluebird copper-gold deposit, marking a key step towards project development and early-stage production. The company has identified high-priority exploration targets based on new gravity data, which could potentially expand the Bluebird mineralisation footprint and enhance its long-term resource base, positioning Tennant Minerals for future growth and development.

Tennant Minerals Unveils Maiden High-Grade Copper-Gold Resource at Bluebird

Tennant Minerals has announced a maiden high-grade copper-gold Mineral Resource Estimate for its Bluebird discovery, highlighting significant open-pit mining potential. The discovery, which includes copper, gold, silver, and bismuth, is expected to support early production through the Tennant Creek Copper Alliance processing plan. The resource remains open to the west, indicating potential for long-term underground operations. This development marks a major milestone for Tennant Minerals, enhancing its resource base and positioning it for future growth in the critical and precious metals sector.