Variscan Mines Limited (AU:VAR)
ASX:VAR
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Variscan Mines Limited
(Sydney:VAR)
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Rating:46Neutral
Price Target:
AU$0.01
▲(0.00% Upside)
Action:UpgradedDate:12/30/25
The score is primarily weighed down by weak financial performance (no revenue, ongoing losses, and continued cash burn). Offsetting this is a comparatively solid, low-leverage balance sheet that provides financial runway, while limited technical data and a negative P/E/dividend profile offer little additional support.
Positive Factors
Regulatory Approval
Securing regulatory approval for the San Jose Mine Restart is a critical step for Variscan, enabling site development and trial mining, which can significantly advance project timelines and enhance long-term operational capabilities.
Negative Factors
Ongoing Cash Burn
Persistent negative cash flow indicates reliance on external financing, which can strain resources and limit the company's ability to invest in growth opportunities, impacting long-term sustainability.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulatory Approval
Securing regulatory approval for the San Jose Mine Restart is a critical step for Variscan, enabling site development and trial mining, which can significantly advance project timelines and enhance long-term operational capabilities.
Read all positive factors
Variscan Mines Limited (VAR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$8.74M
Dividend YieldN/A
Average Volume (3M)2.05M
Price to Earnings (P/E)―
Beta (1Y)2.01
Revenue GrowthN/A
EPS Growth6.25%
CountryAU
Employees5
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding1,247,931,400
10 Day Avg. Volume2,198,617
30 Day Avg. Volume2,053,059
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)0.36
Price to Sales (P/S)0.00
P/FCF Ratio-4.87
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)N/A
Revenue Forecast (FY)N/A
Variscan Mines Limited Business Overview & Revenue Model
Company Description
Variscan Mines Limited, a natural resources company, engages in the acquisition, exploration, and development of mineral properties. The company explores for copper, gold, zinc, lead, and uranium deposits. It owns interests in the Novales/Udias an...
How the Company Makes Money
Variscan Mines Limited generates revenue primarily through the exploration and development of mineral resources. The company invests in identifying and developing mineral-rich properties, which can then be sold, joint ventured, or otherwise moneti...
Variscan Mines Limited Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
63
Positive
Cash Flow
18
Very Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 1.07K | 0.00 | 0.00 | 0.00 |
| Gross Profit | -14.87K | -16.65K | 1.07K | -7.55K | 0.00 | 0.00 |
| EBITDA | -581.64K | 0.00 | -629.59K | -878.70K | -822.65K | -682.47K |
| Net Income | -1.03M | -920.39K | -650.27K | -886.24K | -827.05K | -684.61K |
Balance Sheet | ||||||
| Total Assets | 12.67M | 11.47M | 9.83M | 9.63M | 9.04M | 9.50M |
| Cash, Cash Equivalents and Short-Term Investments | 635.39K | 451.94K | 250.26K | 1.02M | 1.95M | 4.44M |
| Total Debt | 0.00 | 250.00K | 100.00K | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 234.42K | 591.83K | 509.62K | 254.18K | 281.06K | 232.42K |
| Stockholders Equity | 12.44M | 10.88M | 9.32M | 9.38M | 8.76M | 9.27M |
Cash Flow | ||||||
| Free Cash Flow | -1.01M | -805.34K | -1.47M | -2.20M | -2.48M | -2.29M |
| Operating Cash Flow | -975.22K | -766.18K | -358.95K | -586.76K | -638.53K | -767.98K |
| Investing Cash Flow | -1.68M | -1.45M | -1.11M | -1.61M | -1.84M | -1.05M |
| Financing Cash Flow | 2.12M | 2.41M | 707.00K | 1.25M | -5.55K | 4.11M |
Variscan Mines Limited 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% | |
46 Neutral | AU$8.74M | -2.01 | -8.86% | ― | ― | 6.25% | |
44 Neutral | AU$12.23M | -0.98 | -89.04% | ― | 20.87% | 76.67% | |
43 Neutral | AU$6.54M | -2.06 | -91.53% | ― | ― | -1.73% | |
43 Neutral | AU$31.95M | -2.58 | -5.94% | ― | -67.81% | -244.10% | |
43 Neutral | AU$5.23M | -4.10 | -4.77% | ― | ― | -47.62% | |
40 Underperform | AU$9.59M | -1.36 | -57.07% | ― | ― | 44.90% |
* Basic Materials Sector Average
AU:VAR
Variscan Mines Limited
0.01
0.00
0.00%
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Marquee Resources Ltd
0.01
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Stavely Minerals Ltd
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Vital Metals Ltd
0.14
0.08
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AU:JNO
Juno Minerals Ltd.
0.03
0.00
0.00%
Variscan Mines Limited Corporate Events
Variscan Mines Says No Undisclosed News Behind Share Price and Volume Spike
Jan 15, 2026
Variscan Mines Limited, an Australian mineral exploration company listed on the ASX, operates in the resources sector with a focus on discovering and developing mineral assets for investors in the mining industry.
In response to an ASX price and v...
Variscan Mines Secures Key Approval for San Jose Mine Restart
Dec 17, 2025
Variscan Mines Limited has received approval from the Government of Cantabria for its Preliminary Mining Plan, known as the Anteproyecto, for the San Jose Mine Restart. This approval is a significant step forward, allowing the company to conduct p...
Variscan Mines Updates Director’s Interest Notice with Options Correction
Dec 1, 2025
Variscan Mines Limited announced a correction to a previously lodged document regarding a change in a director’s interest, which now includes 6,500,000 unlisted options related to placement shares. This correction ensures transparency and ac...
Variscan Mines Updates on Director’s Share Interests
Dec 1, 2025
Variscan Mines Limited announced changes to Director Stewart Dickson’s interests following his participation in a share placement. The company corrected an administrative error regarding the issuance of ordinary shares and reaffirmed its com...
Variscan Mines Secures Shareholder Approval for Key Resolutions
Nov 28, 2025
Variscan Mines Limited announced that all resolutions proposed at its Annual General Meeting were successfully passed. This includes significant approvals such as the re-election of a board member, the issuance of securities, and an increase in re...
Variscan Mines Aims to Develop High-Grade Zinc Mine in Spain
Nov 28, 2025
Variscan Mines Limited has announced its focus on developing Spain’s next high-grade zinc mine, which is expected to play a significant role in the energy transition. This strategic move is anticipated to enhance the company’s position...
Variscan Mines Confirms High-Grade Zinc Continuation at Udías Mine
Nov 10, 2025
Variscan Mines Limited has announced new assay results from its underground drilling campaign at the Udías Mine, part of the Novales-Udías Project in northern Spain. The results confirm the continuation of high-grade zinc mineralization,...
Variscan Mines Aims to Develop Spain’s Next Major Zinc Mine
Nov 4, 2025
Variscan Mines Limited has announced its strategic focus on developing a high-grade zinc mine in Spain, which is expected to play a significant role in the energy transition. This development could enhance the company’s operations and streng...
Variscan Mines Limited Releases 2025 Annual Report
Oct 31, 2025
Variscan Mines Limited has released its annual report for the year ending 30 June 2025. The report highlights the company’s strategic focus on advancing its zinc projects in Spain, which is expected to strengthen its position in the natural ...
Variscan Mines Releases 2025 Corporate Governance Statement
Oct 31, 2025
Variscan Mines Limited has released its 2025 Corporate Governance Statement, outlining its adherence to the ASX Corporate Governance Council Principles and Recommendations. The company emphasizes its commitment to maintaining a governance framewor...
Variscan Mines Advances Novales-Udías Project with Key Approvals and Strategic Acquisitions
Oct 31, 2025
Variscan Mines Limited has made significant strides in its Novales-Udías Project, with the formal approval of a Restoration Plan and the acquisition of historic drill data indicating high-grade zinc and lead intercepts. The company completed ...
Variscan Mines Limited Announces 2025 Annual General Meeting
Oct 27, 2025
Variscan Mines Limited has announced its 2025 Annual General Meeting, scheduled for November 28, 2025, in Sydney. The meeting will be held physically, with shareholders encouraged to submit proxy votes online. This announcement underscores the com...
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.