Top Page
E2 Metals Ltd.
(Sydney:USL)
E2 Metals Ltd. (USL) vs. iShares MSCI Australia ETF (EWA)
E2 Metals Ltd. Business Overview & Revenue Model
E2 Metals Ltd. Financial Statement Overview
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.75M | 950.76K | 61.47K | 0.00 | 0.00 |
| Gross Profit | 2.75M | -83.64K | 1.06K | -69.57K | -17.97K |
| EBITDA | -23.75M | -2.95M | -17.69M | -10.11M | -6.16M |
| Net Income | -24.00M | -2.83M | -17.69M | -8.93M | -5.20M |
Balance Sheet | |||||
| Total Assets | 15.02M | 6.72M | 10.45M | 11.18M | 12.37M |
| Cash, Cash Equivalents and Short-Term Investments | 12.50M | 5.05M | 8.53M | 10.68M | 11.04M |
| Total Debt | 0.00 | 0.00 | 171.23K | 205.19K | 0.00 |
| Total Liabilities | 4.26M | 2.66M | 3.78M | 633.97K | 186.28K |
| Stockholders Equity | 10.76M | 4.06M | 10.04M | 13.66M | 13.86M |
Cash Flow | |||||
| Free Cash Flow | -17.38M | -2.58M | -2.41M | -13.63M | -10.53M |
| Operating Cash Flow | -17.29M | -2.58M | -5.07M | -13.63M | -10.39M |
| Investing Cash Flow | -3.71M | -867.05K | -2.66M | 5.28M | 3.52M |
| Financing Cash Flow | 28.44M | -30.50K | 5.61M | 7.94M | 14.52M |
E2 Metals Ltd. Technical Analysis
E2 Metals Ltd. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
52 Neutral | AU$548.93M | -110.87 | -2.59% | ― | -19.06% | -53.33% | |
49 Neutral | AU$277.62M | -19.67 | -454.45% | ― | ― | 15.86% | |
46 Neutral | AU$623.62M | -15.74 | -323.90% | ― | ― | -428.57% | |
46 Neutral | AU$79.01M | -36.36 | -16.47% | ― | ― | -19.57% |
E2 Metals Ltd. Corporate Events
Unico Silver has issued 350,000 fully paid ordinary shares following the conversion of an equivalent number of unlisted options on 24 February 2026. The new shares were issued without a prospectus under the Corporations Act, with the company confirming ongoing compliance with its financial reporting and continuous disclosure obligations and stating there is no excluded information relevant to this issuance.
The cleansing notice assures investors that the additional shares can be traded on the market without further disclosure, reinforcing transparency around the modest capital structure change. While the transaction is relatively small in scale, it slightly increases the company’s free float and signals that option holders are choosing to convert into equity under current market conditions.
The most recent analyst rating on (AU:USL) stock is a Sell with a A$0.68 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver Limited has applied to the ASX for quotation of 350,000 new ordinary fully paid shares, following the exercise of options or conversion of other securities. The new shares, issued on 24 February 2026, modestly expand the company’s listed capital base and may provide additional liquidity for investors, while slightly diluting existing shareholders.
The move underscores Unico Silver’s ongoing use of equity-based instruments in its financing structure, a common practice among small and mid-cap resource companies. While the announcement is largely administrative, it reflects active capital management that could support future project development or corporate initiatives as the company advances its silver-focused portfolio.
The most recent analyst rating on (AU:USL) stock is a Sell with a A$0.68 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver Limited has issued 10,930,000 fully paid ordinary shares following the conversion of an equivalent number of unlisted options on 2 February 2026, with the new shares issued without the need for a disclosure document under the Corporations Act. The company confirmed it is up to date with its financial reporting and continuous disclosure obligations and stated there is no excluded information that would need to be disclosed in connection with this share issue, underscoring compliance and transparency for existing and potential investors.
The most recent analyst rating on (AU:USL) stock is a Hold with a A$0.91 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver Limited has applied for quotation on the ASX of 10,930,000 new fully paid ordinary shares under the code USL, with an issue date of 2 February 2026. The additional securities, arising from the exercise or conversion of existing instruments, will expand the company’s free-float and may enhance trading liquidity and access to capital, signalling ongoing corporate and project development activity for shareholders and market participants.
The most recent analyst rating on (AU:USL) stock is a Hold with a A$0.91 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver has released an investor presentation outlining its progress as it positions itself as the next tier-one silver development company, highlighting ongoing drilling and a pre-feasibility study in progress at its key projects. The update consolidates a series of strong exploration results and resource upgrades across 2024–2026 at the Cerro Leon and Joaquin districts, including new discoveries, expansion drilling at La Negra SE, and increased silver-equivalent resources, underscoring the growing scale and potential of its Argentine portfolio while reiterating standard investment and forward-looking risk disclaimers.
The most recent analyst rating on (AU:USL) stock is a Hold with a A$0.91 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver Limited has appointed Peter Holmes as a director effective 27 January 2026, according to a filing with the ASX. The company disclosed that Holmes currently holds no relevant interests in Unico Silver securities, either directly or indirectly, and has no interests in any contracts involving the company, underscoring that his appointment does not immediately alter the existing shareholding structure or contractual landscape for current stakeholders.
The most recent analyst rating on (AU:USL) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver has strengthened its board and executive team with the appointment of veteran mining executive Peter Holmes as Executive Director and Chair of the Technical Committee, and the transition of director Peter Canterbury to an Executive Director role. The company has also introduced a long-term incentive framework tied to key development milestones, aligning management and shareholder interests as it moves Joaquin and Cerro Leon toward feasibility studies, permitting and eventual development. These changes are designed to bolster Unico’s mine construction, project execution and financing capabilities, de-risking the path to reserve definition and a maiden feasibility study while better positioning the company to secure capital and execute its growth strategy in the silver-gold development space.
The most recent analyst rating on (AU:USL) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver Limited has disclosed a change in director Peter Mullens’ interests following the exercise of 2 million unlisted options at $0.27 each into fully paid ordinary shares, alongside the sale of 1.25 million shares at $1.05 per share. After these transactions, Mullens’ direct holdings comprise 2 million fully paid ordinary shares and 2 million unlisted options exercisable at $0.812 expiring in December 2028, while his indirect holding through the Mullens Family Super Fund has been reduced to 18,586 shares, with the company noting that part of the share disposal was undertaken to fund FY26 tax liabilities and the cost of exercising the options, signaling a rebalancing of the director’s equity position rather than a withdrawal of support.
The most recent analyst rating on (AU:USL) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver Limited has reported a change in the interests of director Todd Jarrad Williams, who converted 1.5 million unlisted options into 1.5 million fully paid ordinary shares on 23 January 2026. Following the conversion, Williams disposed of 1.5 million fully paid ordinary shares to fund FY26 tax liabilities and the option exercise, leaving him with 7,779,635 fully paid ordinary shares and 1.5 million unlisted options held directly, along with 8 million performance rights and 1,155,550 shares held indirectly through SMSF TERF Super, thereby slightly rebalancing his mix of equity instruments while maintaining a substantial exposure to the company.
The most recent analyst rating on (AU:USL) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver Limited has issued 7,770,000 fully paid ordinary shares following the conversion of an equivalent number of unlisted options on 23 January 2026. The company states that the shares were issued without a prospectus under the Corporations Act’s disclosure exemptions, while confirming ongoing compliance with its financial reporting and continuous disclosure obligations and noting there is no excluded information that would need to be disclosed to the market, clarifying the regulatory status of the new securities for investors.
The most recent analyst rating on (AU:USL) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver Limited has applied to the Australian Securities Exchange for quotation of 7,770,000 new fully paid ordinary shares under the code USL, with an issue date of 23 January 2026. The additional securities, arising from the exercise or conversion of existing options or other convertible instruments, will expand the company’s listed share capital and may enhance liquidity for shareholders while signalling ongoing capital structuring and potential funding for its resource exploration activities.
The most recent analyst rating on (AU:USL) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver’s December 2025 quarter marked a key transition for the Joaquin silver-gold project, with exceptional infill and extensional drilling at La Negra SE, La Morocha and La Morocha SE confirming wide, shallow oxide mineralisation suitable for conventional open-pit mining and supporting a move directly to a Pre-Feasibility Study-level Mineral Resource Estimate. The company ramped up to five drill rigs, initiated geotechnical, metallurgical and environmental baseline studies, and materially strengthened its balance sheet via a $40 million institutional placement and an upsized $10.3 million share purchase plan, ending the quarter with about $66 million in cash to fund accelerated drilling, resource conversion and PFS workstreams that de-risk the project and advance its growth strategies.
The most recent analyst rating on (AU:USL) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver Limited has issued 4,000,000 fully paid ordinary shares following the conversion of an equivalent number of unlisted options on 15 January 2026, expanding its share capital base. The company confirmed that the new shares were issued without a prospectus under the Corporations Act, that it is up to date with its financial reporting and continuous disclosure obligations, and that there is no excluded information that would need to be disclosed, signalling regulatory compliance and transparency for investors.
The most recent analyst rating on (AU:USL) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver Limited, listed on the ASX under the code USL, has applied for quotation of 4,000,000 new ordinary fully paid shares. The securities, issued on 15 January 2026 following the exercise or conversion of existing options or other convertible securities, will expand the company’s quoted share capital, potentially enhancing liquidity for investors and reflecting ongoing capital management activities.
The most recent analyst rating on (AU:USL) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver has reported exceptional new drill results from the La Negra SE prospect at its Joaquin Project in Argentina, with standout hole JDD113-25 returning 107 metres at 165 grams per tonne silver equivalent from 18 metres, among several broad, shallow oxide silver-gold intercepts over an 850-metre strike that remain open to the southeast and at depth. The continuity and thickness of these mineralised zones, with true thicknesses ranging from 15 to 75 metres, support the potential for bulk open-pit mining and have prompted the company to move directly to a Pre-Feasibility Study-level Mineral Resource Estimate covering La Negra, La Negra SE and La Morocha, while ongoing drilling, geotechnical and comminution programs, and the newly defined La Rubia silver anomaly indicate that Joaquin is transitioning rapidly from exploration to development with additional growth potential along strike.
The most recent analyst rating on (AU:USL) stock is a Hold with a A$0.92 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver Limited has disclosed a change in the interests of director Peter James Mullens, who increased his indirect shareholding through the Mullens Family Super Fund by acquiring 46,364 fully paid ordinary shares at $0.55 per share via participation in the company’s share purchase plan. Following this transaction, Mullens’ indirect holding rose to 1,268,586 fully paid ordinary shares, while his existing package of 4 million unlisted options remains unchanged, signalling continued financial alignment of the director with the company’s equity performance.
The most recent analyst rating on (AU:USL) stock is a Buy with a A$1.30 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver Limited has reported a change in the indirect security holdings of director Peter Canterbury, who, through Cantley Investments Pty Ltd, increased his stake in the company by acquiring 46,364 fully paid ordinary shares at $0.55 per share via participation in the share purchase plan (SPP). Following this transaction, Cantley Investments now holds 96,364 fully paid ordinary shares in Unico Silver, in addition to 1,000,000 unlisted options exercisable at $0.812 each and expiring on 4 December 2028, signalling continued director support for the company’s capital management initiatives and future growth plans.
The most recent analyst rating on (AU:USL) stock is a Buy with a A$1.30 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver Limited has applied to the ASX for quotation of 18,779,299 new fully paid ordinary shares under the code USL, following a previously announced transaction. The issuance, dated 22 December 2025, will increase the company’s quoted share capital and may broaden its investor base and liquidity, although the announcement provides no further details on the underlying transaction or use of proceeds.
The most recent analyst rating on (AU:USL) stock is a Buy with a A$1.30 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver Limited has more than doubled its Share Purchase Plan (SPP) to $10.32 million after receiving applications of over $19 million and a 22% participation rate from eligible shareholders, significantly above the original $5 million target. Together with a previously announced institutional placement, the company has now secured a total of $50 million before costs, with new SPP shares issued on 22 December 2025 and trading commencing on the ASX the following day, and the funds earmarked to advance its Joaquin and Cerro Leon Silver Projects, underscoring strong investor support for its development pipeline.
The most recent analyst rating on (AU:USL) stock is a Buy with a A$1.30 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
E2 Metals Ltd. announced a change in the director’s interest notice, indicating a transfer of 55,550 fully paid ordinary shares from a direct holding to the SMSF TERF Super fund account. This change reflects a reallocation of shares within the director’s holdings, with no new shares acquired or disposed of, potentially impacting the director’s financial strategy and investment structure.
The most recent analyst rating on (AU:USL) stock is a Buy with a A$1.30 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver Limited has announced the issuance of 1,000,000 fully paid ordinary shares following the conversion of unlisted options. This move, executed without disclosure under Part 6D.2 of the Corporations Act, indicates the company’s compliance with relevant legal provisions and suggests a strategic step in its financial operations.
The most recent analyst rating on (AU:USL) stock is a Buy with a A$1.30 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver Limited has announced the issuance of 1,000,000 fully paid ordinary shares, which will be quoted on the Australian Securities Exchange (ASX) under the code USL. This move is part of the company’s strategic efforts to enhance its market presence and provide liquidity to its shareholders, potentially impacting its market positioning positively.
The most recent analyst rating on (AU:USL) stock is a Buy with a A$1.30 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver Limited has announced a change in the director’s interest notice involving Peter James Mullens. The change involves the acquisition of 2,000,000 unlisted options exercisable at $0.812 each, expiring on December 4, 2028, following shareholder approval at the Annual General Meeting. This adjustment in director’s interests reflects strategic financial maneuvers within the company, potentially impacting its governance and shareholder value.
The most recent analyst rating on (AU:USL) stock is a Buy with a A$1.30 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
E2 Metals Ltd. has announced a change in the interest of its director, Jose Bordogna, involving the acquisition of 1,000,000 unlisted options exercisable at $0.812 each, expiring on December 4, 2028. This change follows shareholder approval at the company’s Annual General Meeting, indicating strategic adjustments in director compensation or incentives, potentially impacting the company’s governance and shareholder relations.
The most recent analyst rating on (AU:USL) stock is a Buy with a A$1.30 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver Limited has announced a change in the director’s interest in securities, specifically for Director Todd Jarrad Williams. The change involves the acquisition of 8,000,000 unlisted performance rights, which were issued following shareholder approval at the company’s Annual General Meeting. This adjustment in the director’s holdings reflects a strategic move to align interests with company performance, potentially impacting the company’s governance and signaling confidence in future growth.
The most recent analyst rating on (AU:USL) stock is a Buy with a A$1.30 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver Limited has announced the issuance of 1,000,000 unquoted securities under an employee incentive scheme. These securities, which are not yet quoted on the ASX, are subject to transfer restrictions until the restrictions are lifted. This move is part of the company’s strategy to incentivize employees and align their interests with the company’s growth objectives.
The most recent analyst rating on (AU:USL) stock is a Buy with a A$1.30 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver Limited has announced a change in the director’s interest, specifically regarding Peter Canterbury, who is a director and beneficiary of Cantley Investments Pty Ltd. The change involves the acquisition of 1,000,000 unlisted options, exercisable at $0.812 each and expiring on December 4, 2028, following shareholder approval at the recent Annual General Meeting. This acquisition reflects strategic decisions made by the company to align with shareholder interests and potentially enhance its market position.
The most recent analyst rating on (AU:USL) stock is a Buy with a A$1.30 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver Limited has announced a change in the director’s interest notice, involving Melanie Jaye Leydin. The change includes the acquisition of 1,000,000 unlisted options exercisable at $0.812 each, expiring on December 4, 2028. These options were issued following shareholder approval at the company’s Annual General Meeting.
The most recent analyst rating on (AU:USL) stock is a Buy with a A$1.30 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver Limited has announced the issuance of unquoted equity securities, specifically 8 million performance rights and 4 million options, as part of an employee incentive scheme. These securities are subject to transfer restrictions and will not be quoted on the ASX until the restrictions end, potentially impacting employee retention and motivation strategies.
The most recent analyst rating on (AU:USL) stock is a Buy with a A$1.30 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
Unico Silver Limited has announced significant assay results from its ongoing drill program at the Joaquin Project in Santa Cruz, Argentina. The results confirm the continuity of near-surface mineralization at the La Negra SE and La Morocha SE sites, which are crucial for the company’s maiden feasibility study. The project is part of a larger 30,000m drill program aimed at regional exploration and the delineation of high-confidence silver ounces. The company is advancing its project development with geotechnical drilling and environmental studies, positioning Joaquin as a near-term production opportunity.
The most recent analyst rating on (AU:USL) stock is a Buy with a A$1.30 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.