E2 Metals Ltd. (AU:USL)
ASX:USL
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E2 Metals Ltd.
(Sydney:USL)
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Rating:44Neutral
Price Target:
AU$0.70
▲(1.88% Upside)
Action:Reiterated
Date:05/29/26
The score is primarily held down by weak financial performance—deepening losses and accelerating cash burn—despite a low-debt balance sheet. Technicals also detract as the stock trades below major moving averages with weak momentum. Valuation offers limited support due to negative earnings and no dividend signal.
Positive Factors
Low leverage
Very low leverage (effectively zero debt in 2024–2025) reduces refinancing pressure and preserves financial flexibility. Over the next 2–6 months this lowers default risk, allows paced project spending or JV talks, and improves the company’s ability to raise capital on better terms.
Negative Factors
Accelerating cash burn
Operating cash flow has been negative annually and plunged to about -17.3M in 2025 from -2.6M in 2024, reflecting accelerating cash burn. This materially raises near‑term funding risk, increases probability of dilutive raises, and constrains the company’s ability to progress multiple exploration programs.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage
Very low leverage (effectively zero debt in 2024–2025) reduces refinancing pressure and preserves financial flexibility. Over the next 2–6 months this lowers default risk, allows paced project spending or JV talks, and improves the company’s ability to raise capital on better terms.
Read all positive factors
E2 Metals Ltd. (USL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$412.40M
Dividend YieldN/A
Average Volume (3M)3.81M
Price to Earnings (P/E)―
Beta (1Y)2.94
Revenue GrowthN/A
EPS Growth-32.31%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustrySilver
Share Statistics
EPS (TTM)-0.05
Shares Outstanding634,461,240
10 Day Avg. Volume3,993,234
30 Day Avg. Volume3,811,675
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)7.90
Price to Sales (P/S)30.96
P/FCF Ratio-4.89
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.03
Revenue Forecast (FY)N/A
E2 Metals Ltd. Business Overview & Revenue Model
Company Description
Unico Silver Limited primarily focuses on the exploration and evaluation of mineral resources, particularly gold, silver, and copper deposits, across both Australia and Argentina. A significant asset for the company is the Santa Cruz project, a va...
How the Company Makes Money
E2 Metals Ltd. generates revenue primarily through the exploration and subsequent development of mineral deposits, which can later be monetized through the sale of discovered assets, joint ventures, or transitioning into production operations if v...
E2 Metals Ltd. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.75M | 2.75M | 950.76K | 61.47K | 0.00 | 0.00 |
| Gross Profit | 2.75M | 2.75M | -83.64K | 1.06K | -69.57K | -17.97K |
| EBITDA | -17.20M | -23.75M | -2.95M | -17.69M | -10.11M | -6.16M |
| Net Income | -19.38M | -24.00M | -2.83M | -17.69M | -8.93M | -5.20M |
Balance Sheet | ||||||
| Total Assets | 150.41M | 15.02M | 6.72M | 10.45M | 11.18M | 12.37M |
| Cash, Cash Equivalents and Short-Term Investments | 66.73M | 12.50M | 5.05M | 8.53M | 10.68M | 11.04M |
| Total Debt | 0.00 | 0.00 | 0.00 | 171.23K | 205.19K | 0.00 |
| Total Liabilities | 2.12M | 4.26M | 2.66M | 3.78M | 633.97K | 186.28K |
| Stockholders Equity | 148.29M | 10.76M | 4.06M | 10.04M | 13.66M | 13.86M |
Cash Flow | ||||||
| Free Cash Flow | -29.72M | -17.38M | -2.58M | -2.41M | -13.63M | -10.53M |
| Operating Cash Flow | -15.22M | -17.29M | -2.58M | -5.07M | -13.63M | -10.39M |
| Investing Cash Flow | -15.31M | -3.71M | -867.05K | -2.66M | 5.28M | 3.52M |
| Financing Cash Flow | 71.91M | 28.44M | -30.50K | 5.61M | 7.94M | 14.52M |
E2 Metals Ltd. Technical Analysis
Negative
0.69
Price Trends
0.66
Negative
0.73
Negative
0.70
Negative
Market Momentum
<0.01
Negative
49.10
Neutral
64.91
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:USL, the sentiment is Negative. The current price of 0.69 is above the 20-day moving average (MA) of 0.65, above the 50-day MA of 0.66, and below the 200-day MA of 0.70, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 49.10 is Neutral, neither overbought nor oversold. The STOCH value of 64.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:USL.
E2 Metals Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
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% | |
49 Neutral | AU$248.70M | -112.08 | -8.87% | ― | ― | 99.23% | |
46 Neutral | AU$274.86M | -73.99 | -1.97% | ― | 104.04% | 25.00% | |
46 Neutral | AU$203.33M | -24.70 | -19.05% | ― | ― | -155.62% | |
44 Neutral | AU$412.40M | -15.76 | -24.37% | ― | ― | -32.31% | |
42 Neutral | AU$45.43M | -14.41 | -14.46% | ― | ― | -67.35% |
* Basic Materials Sector Average
AU:USL
E2 Metals Ltd.
0.60
0.33
126.42%
AU:SVL
Silver Mines Limited
0.13
0.02
13.04%
AU:TGM
Theta Gold Mines
0.22
0.08
59.26%
AU:PTR
Petratherm Ltd
0.11
-0.18
-62.07%
AU:SS1
Sun Silver Ltd.
1.03
0.26
33.99%
E2 Metals Ltd. Corporate Events
Unico Silver Upgrades to OTCQX to Bolster North American Investor Reach
Jun 2, 2026
Unico Silver Limited has upgraded its U.S. trading status, with its ordinary shares now quoted on the OTCQX Best Market under the ticker USLRF, while maintaining its primary listing on the ASX. The move does not involve issuing new shares and leav...
Unico Silver Seeks ASX Quotation for 400,000 New Shares
May 24, 2026
Unico Silver Limited has applied for quotation on the ASX of 400,000 new ordinary fully paid shares, which were issued on 22 May 2026. The application, lodged on 25 May 2026 under Appendix 2A of the ASX Listing Rules, indicates an expansion of the...
Unico Silver Extends High-Grade Joaquin Resource With Strong Drill Results
May 7, 2026
Unico Silver has reported strong assay results from 75 additional drill holes totalling 9,563 metres at its Joaquin Project in Argentina, extending gold-silver mineralisation beyond the March 2026 mineral resource estimate. The latest program, whi...
Unico Silver Issues 3 Million Shares on Option Conversion, Affirms Regulatory Compliance
Apr 29, 2026
Unico Silver Limited has issued 3,000,000 fully paid ordinary shares following the conversion of an equivalent number of unlisted options on 28 April 2026, increasing its share capital without providing a disclosure document under the Corporations...
Unico Silver Seeks ASX Quotation for 3 Million New Shares
Apr 29, 2026
Unico Silver Limited has applied to the ASX for quotation of 3,000,000 ordinary fully paid shares, with an issue date of April 28, 2026. The move, arising from the exercise or conversion of existing options or other convertible securities, modestl...
Unico Silver Lifts Resource Base to 330Moz AgEq as Joaquin Emerges as Cornerstone Asset
Apr 23, 2026
Unico Silver reported a transformative March 2026 quarter marked by the delivery of a maiden JORC 2012 Mineral Resource Estimate at its Joaquin project, outlining 45.3 million tonnes at 115 grams per tonne silver equivalent for 167 million ounces ...
Unico Silver Grants Performance Rights to Director Peter Holmes
Apr 10, 2026
Unico Silver Limited has updated the market on a change in director Peter Holmes’ interests, following the issue of 2,250,000 unquoted performance rights. The rights, which expire on 8 April 2031, were granted for nil consideration after sha...
Unico Silver Grants Additional Performance Rights to Director Peter Canterbury
Apr 8, 2026
Unico Silver Limited has disclosed a change in the interests of director Peter Canterbury, following shareholder approval at a recent general meeting. Through his associated entity, Cantley Investments Pty Ltd, Canterbury has been issued 2,250,000...
Unico Silver Issues 9.8 Million Unquoted Performance Rights Under Incentive Plan
Apr 8, 2026
Unico Silver Limited has notified the market of the issue of 9,800,000 unquoted performance rights under its employee incentive scheme. The new securities, which are subject to transfer restrictions and will not be quoted on the ASX, underscore th...
Unico Silver Shareholders Back Capital Raising and Executive Incentives at 2026 Meeting
Mar 27, 2026
Unico Silver Limited has reported the outcomes of its 2026 Extraordinary General Meeting, where shareholders voted on key capital and remuneration resolutions. The meeting was conducted in line with Australian corporate and listing rules, reflecti...
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.