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Vault Minerals Limited
(Sydney:VAU)
Vault Minerals Limited (VAU) vs. iShares MSCI Australia ETF (EWA)
Vault Minerals Limited Business Overview & Revenue Model
Vault Minerals Limited Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.43B | 1.43B | 620.00M | 422.75M | 162.90M | 189.71M |
| Gross Profit | 311.36M | 319.71M | 90.40M | 110.87M | -4.21M | 41.83M |
| EBITDA | 601.20M | 574.70M | 149.78M | 77.26M | -6.12M | 9.65M |
| Net Income | 236.98M | 236.98M | -5.44M | -8.73M | -28.53M | -42.92M |
Balance Sheet | ||||||
| Total Assets | 2.44B | 2.44B | 2.17B | 670.48M | 577.37M | 345.49M |
| Cash, Cash Equivalents and Short-Term Investments | 674.24M | 674.24M | 428.81M | 20.11M | 32.53M | 17.41M |
| Total Debt | 98.36M | 98.36M | 207.84M | 209.11M | 272.36M | 10.15M |
| Total Liabilities | 444.26M | 444.26M | 546.79M | 340.41M | 394.57M | 114.61M |
| Stockholders Equity | 2.00B | 2.00B | 1.62B | 330.09M | 182.81M | 234.79M |
Cash Flow | ||||||
| Free Cash Flow | 244.26M | 239.26M | 182.40M | -79.50M | -182.66M | -102.72M |
| Operating Cash Flow | 539.68M | 540.06M | 206.63M | 46.66M | -5.09M | 14.18M |
| Investing Cash Flow | -300.81M | -300.81M | 270.03M | -126.17M | -160.10M | -138.44M |
| Financing Cash Flow | 6.48M | 6.10M | -67.98M | 67.18M | 176.86M | 25.92M |
Vault Minerals Limited Technical Analysis
Vault Minerals Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | AU$9.09B | 12.26 | 28.58% | 1.92% | 36.34% | 110.55% | |
73 Outperform | AU$4.22B | 12.72 | 26.84% | ― | 23.87% | 92.57% | |
72 Outperform | AU$6.13B | 25.96 | 13.09% | ― | 130.98% | ― | |
69 Neutral | AU$6.95B | 201.56 | 2.43% | 0.46% | 89.86% | -81.65% | |
68 Neutral | AU$4.92B | 55.85 | 14.25% | ― | 17.59% | 0.98% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
Vault Minerals Limited Corporate Events
Vault Minerals reported a strong December 2025 quarter, producing 76,520 ounces of gold and selling 77,798 ounces at an average realised price of A$4,582 per ounce and an all-in sustaining cost (AISC) of A$3,160 per ounce, with year-to-date output of 168,607 ounces at an AISC of A$2,865 per ounce, leaving the company on track to meet its FY26 guidance of 332,000–360,000 ounces. Operationally, the Leonora, Mount Monger and Deflector hubs all contributed solidly, while Stage 1 of the King of the Hills processing expansion remains on schedule for commissioning at quarter-end and Stage 2 is slated for Q2 FY27, together targeting a roughly 50% increase in throughput to 7.5–8.0mtpa and an expected step change in free cash generation by FY28. The company advanced growth initiatives including near-mine drilling at Deflector, underground exploration at Leonora and upcoming drilling near the Sugar Zone, aimed at extending mine life and securing additional ore feed. Financially, Vault generated underlying free cash flow of $12 million despite heavy growth capex of $82 million, ended the quarter with $537 million in cash and bullion, significantly reduced its hedge book to become materially unhedged, and continued capital management via a share buy-back, positioning shareholders to benefit more directly from prevailing gold prices.
The most recent analyst rating on (AU:VAU) stock is a Buy with a A$6.50 price target. To see the full list of analyst forecasts on Vault Minerals Limited stock, see the AU:VAU Stock Forecast page.
Vault Minerals Limited has cancelled 1,019,561 ordinary fully paid shares following completion of an on-market share buy-back, as disclosed in an Appendix 3H notification to the ASX. The reduction in issued capital, effective 6 January 2026, marginally tightens the company’s share base and may provide incremental value to remaining shareholders through a higher ownership percentage per share, signaling ongoing capital management by the company.
The most recent analyst rating on (AU:VAU) stock is a Buy with a A$6.60 price target. To see the full list of analyst forecasts on Vault Minerals Limited stock, see the AU:VAU Stock Forecast page.
Vault Minerals Limited has disclosed that the BlackRock Group, including BlackRock Inc. and specified subsidiaries, has ceased to be a substantial holder in the company as of 5 January 2026, with prior substantial holding notices having been lodged in late December 2025. The filing, made under Section 671B of the Corporations Act, signals a reduction in BlackRock’s voting power below the substantial holding threshold, indicating a shift in the company’s institutional investor base that could alter its share register composition and potentially influence perceptions of market support among stakeholders.
The most recent analyst rating on (AU:VAU) stock is a Buy with a A$6.60 price target. To see the full list of analyst forecasts on Vault Minerals Limited stock, see the AU:VAU Stock Forecast page.
Vault Minerals Limited has notified the market that 95,421 performance rights (ASX code VAUAA) have lapsed after the underlying conditions were not met or became incapable of being satisfied as of 8 December 2025. The cessation of these securities marginally reduces the company’s potential future share dilution and reflects that specific performance or vesting targets tied to these rights were not achieved, which may influence how investors assess management incentives and the alignment between executive remuneration and company performance.
The most recent analyst rating on (AU:VAU) stock is a Buy with a A$6.60 price target. To see the full list of analyst forecasts on Vault Minerals Limited stock, see the AU:VAU Stock Forecast page.
UBS Group AG and its related bodies corporate have notified Vault Minerals Limited that they have ceased to be a substantial shareholder in the company as of 22 December 2025. The change in UBS’s relevant interest, detailed in an accompanying appendix, reduces the presence of a major institutional investor on Vault’s share register, potentially altering the company’s shareholder base dynamics and the profile of influential stakeholders.
The most recent analyst rating on (AU:VAU) stock is a Buy with a A$6.60 price target. To see the full list of analyst forecasts on Vault Minerals Limited stock, see the AU:VAU Stock Forecast page.
Vault Minerals Limited has announced an update regarding its ongoing on-market buy-back program. The company has repurchased a total of 3,009,018 ordinary fully paid securities before the previous day, with an additional 219,684 securities bought back on the previous day. This buy-back initiative reflects Vault Minerals Limited’s strategy to manage its capital structure and potentially enhance shareholder value.
The most recent analyst rating on (AU:VAU) stock is a Buy with a A$7.00 price target. To see the full list of analyst forecasts on Vault Minerals Limited stock, see the AU:VAU Stock Forecast page.
Vault Minerals Limited has announced an update regarding its ongoing buy-back program. The company, listed on the ASX under the code VAU, is conducting an on-market buy-back of its ordinary fully paid securities. As of December 9, 2025, the company has repurchased a total of 2,853,881 securities, with an additional 155,137 securities bought back on the previous day. This buy-back initiative is part of Vault Minerals’ strategy to manage its capital structure and potentially enhance shareholder value.
The most recent analyst rating on (AU:VAU) stock is a Buy with a A$7.00 price target. To see the full list of analyst forecasts on Vault Minerals Limited stock, see the AU:VAU Stock Forecast page.
Vault Minerals Limited has announced an update regarding its ongoing on-market buy-back of ordinary fully paid securities, identified by the ASX code VAU. As of December 8, 2025, the company has repurchased a total of 2,853,881 securities, including 272,113 securities bought back on the previous day. This buy-back initiative is part of Vault Minerals’ strategy to manage its capital structure and potentially enhance shareholder value.
The most recent analyst rating on (AU:VAU) stock is a Buy with a A$7.00 price target. To see the full list of analyst forecasts on Vault Minerals Limited stock, see the AU:VAU Stock Forecast page.
Vault Minerals Limited has announced an update regarding its ongoing on-market buy-back program. As of December 4, 2025, the company has repurchased a total of 2,264,116 ordinary fully paid securities, with an additional 171,005 securities bought back on the previous day. This buy-back initiative is part of the company’s strategy to manage its capital structure and potentially enhance shareholder value.
The most recent analyst rating on (AU:VAU) stock is a Hold with a A$3.70 price target. To see the full list of analyst forecasts on Vault Minerals Limited stock, see the AU:VAU Stock Forecast page.
Vault Minerals Limited announced the issuance of 10,161,252 unquoted performance rights as part of an employee incentive scheme. This move is likely aimed at motivating and retaining key personnel, potentially impacting the company’s operational efficiency and aligning employee interests with shareholder value.
The most recent analyst rating on (AU:VAU) stock is a Buy with a A$6.60 price target. To see the full list of analyst forecasts on Vault Minerals Limited stock, see the AU:VAU Stock Forecast page.
Vault Minerals Limited, a company listed on the Australian Securities Exchange, has announced an update regarding its ongoing on-market share buy-back program. As of November 28, 2025, the company has repurchased a total of 2,264,116 ordinary fully paid securities, with 13,021 bought back on the previous day. This buy-back initiative is part of the company’s strategy to manage its capital structure and potentially enhance shareholder value.
The most recent analyst rating on (AU:VAU) stock is a Buy with a A$5.50 price target. To see the full list of analyst forecasts on Vault Minerals Limited stock, see the AU:VAU Stock Forecast page.
Vault Minerals Limited has announced an update regarding its ongoing on-market buy-back program. The company reported that it bought back 40,052 ordinary fully paid securities on the previous day, bringing the total number of securities bought back to 2,211,043. This buy-back initiative is part of Vault Minerals’ strategy to manage its capital structure and potentially enhance shareholder value.
The most recent analyst rating on (AU:VAU) stock is a Buy with a A$6.00 price target. To see the full list of analyst forecasts on Vault Minerals Limited stock, see the AU:VAU Stock Forecast page.
Vault Minerals Limited has announced an update regarding its ongoing on-market buy-back program. As of November 26, 2025, the company has repurchased a total of 2,209,141 securities, with an additional 1,902 securities bought back on the previous day. This buy-back initiative is part of the company’s strategy to manage its capital structure and potentially enhance shareholder value.
The most recent analyst rating on (AU:VAU) stock is a Buy with a A$6.50 price target. To see the full list of analyst forecasts on Vault Minerals Limited stock, see the AU:VAU Stock Forecast page.
Vault Minerals Limited has announced the early settlement of its gold forward sales contracts for the second half of FY26, six months ahead of schedule. This move eliminates all gold hedging for H2 FY26, allowing the company to transition to a materially unhedged profile, enhancing its exposure to gold price fluctuations. The settlement was funded from Vault’s substantial cash reserves, indicating a strong financial position. Additionally, Vault is continuing its share buy-back program, reflecting confidence in its financial outlook and commitment to shareholder returns.
The most recent analyst rating on (AU:VAU) stock is a Buy with a A$6.50 price target. To see the full list of analyst forecasts on Vault Minerals Limited stock, see the AU:VAU Stock Forecast page.
Vault Minerals Limited has completed a consolidation of its issued capital on a 6.5 to 1 basis, as approved at their Annual General Meeting. This restructuring aims to streamline the company’s capital structure, with new holding statements being dispatched to security holders. The company’s ASX code will revert to VAU, and normal trading will resume on 27 November 2025. This consolidation may impact the company’s market positioning by potentially enhancing its stock’s attractiveness to investors.
The most recent analyst rating on (AU:VAU) stock is a Buy with a A$1.00 price target. To see the full list of analyst forecasts on Vault Minerals Limited stock, see the AU:VAU Stock Forecast page.
Vault Minerals Limited has announced the consolidation of its issued capital on a 6.5 to 1 basis, following shareholder approval. Trading in the company’s securities will occur on a deferred settlement basis under the ASX code ‘VAUDA’ until normal trading resumes on 27 November 2025, when the code will revert to ‘VAU’. This consolidation is part of Vault’s strategic efforts to streamline its capital structure, potentially enhancing its market positioning and operational efficiency.
The most recent analyst rating on (AU:VAU) stock is a Buy with a A$1.00 price target. To see the full list of analyst forecasts on Vault Minerals Limited stock, see the AU:VAU Stock Forecast page.
Vault Minerals Limited has announced that UBS Group AG and its related bodies corporate have ceased to be substantial shareholders in the company as of November 13, 2025. This change in shareholder status may impact Vault Minerals Limited’s market dynamics and investor relations, as UBS Group AG’s exit could influence the company’s stock performance and stakeholder confidence.
The most recent analyst rating on (AU:VAU) stock is a Buy with a A$1.00 price target. To see the full list of analyst forecasts on Vault Minerals Limited stock, see the AU:VAU Stock Forecast page.
Vault Minerals Limited announced the cessation of 1,829,530 performance rights due to the lapse of conditional rights, as the conditions were not met or became incapable of being satisfied. This development may impact the company’s capital structure and could have implications for stakeholders regarding the company’s operational and financial strategies.
The most recent analyst rating on (AU:VAU) stock is a Buy with a A$1.00 price target. To see the full list of analyst forecasts on Vault Minerals Limited stock, see the AU:VAU Stock Forecast page.
Vault Minerals Limited has announced the cessation of Ian Keith Macpherson as a director, effective November 14, 2025. The announcement includes details of Macpherson’s interests in securities, which are held through FATS Pty Ltd as trustee for the Macib Super Fund and the Macib Family Trust, totaling over two million fully paid ordinary shares. This change in directorship may impact the company’s governance structure and could have implications for stakeholders regarding the management of these securities.
The most recent analyst rating on (AU:VAU) stock is a Buy with a A$1.00 price target. To see the full list of analyst forecasts on Vault Minerals Limited stock, see the AU:VAU Stock Forecast page.
Vault Minerals Limited announced the results of its Annual General Meeting, highlighting key resolutions. Notably, the ‘Adoption of Remuneration Report’ faced significant opposition, with over 25% of votes against it, marking a first strike under the Corporations Act 2001. Other resolutions, including the re-election of Mr. Peter Johnston and the consolidation of capital, were carried with strong support.
The most recent analyst rating on (AU:VAU) stock is a Buy with a A$1.00 price target. To see the full list of analyst forecasts on Vault Minerals Limited stock, see the AU:VAU Stock Forecast page.
Vault Minerals Limited has completed its first full year of operations post-merger, achieving significant financial and operational milestones. The company reported a substantial increase in EBITDA and net profit, alongside a strategic upgrade of its King of the Hills operation. With a robust cash position and no debt, Vault is well-positioned for future growth, including a transition to an owner-miner model and expansion of its Canadian Sugar Zone project.
The most recent analyst rating on (AU:VAU) stock is a Buy with a A$1.00 price target. To see the full list of analyst forecasts on Vault Minerals Limited stock, see the AU:VAU Stock Forecast page.
Vault Minerals Limited has released an investor presentation, which includes information on mineral resources and ore reserves as per their 2025 Resource and Reserve Statement. The presentation highlights the company’s ongoing commitment to transparency and regulatory compliance, with no new material changes affecting previous announcements. This release underscores Vault Minerals’ stable position in the mining sector, providing stakeholders with confidence in its operational integrity and future prospects.
The most recent analyst rating on (AU:VAU) stock is a Buy with a A$1.00 price target. To see the full list of analyst forecasts on Vault Minerals Limited stock, see the AU:VAU Stock Forecast page.
Vault Minerals Limited has released an investor presentation detailing its current mineral resources and ore reserves, as extracted from a recent ASX announcement. The presentation emphasizes the company’s ongoing commitment to its exploration and mining activities, with information compiled by a competent person in the field. This release underscores Vault Minerals’ strategic positioning in the gold mining industry, highlighting its adherence to industry standards and regulatory requirements.
The most recent analyst rating on (AU:VAU) stock is a Buy with a A$0.93 price target. To see the full list of analyst forecasts on Vault Minerals Limited stock, see the AU:VAU Stock Forecast page.
Vault Minerals Limited has announced a strategic transition to an owner-operator model for its King of the Hills open pit operations, effective January 1, 2027. This decision, following a comprehensive assessment, aims to improve cost efficiency, operational agility, and workforce stability, supported by a significant increase in ore reserves and a projected 35% rise in mining activity. The transition plan includes deploying a larger fleet and retaining contract drill and blast services, with no changes to production or cost guidance for FY26.
The most recent analyst rating on (AU:VAU) stock is a Buy with a A$0.93 price target. To see the full list of analyst forecasts on Vault Minerals Limited stock, see the AU:VAU Stock Forecast page.
Ian Macpherson will step down from Vault Minerals Limited’s Board at the upcoming AGM, with Kelvin Flynn taking over as Chair of the Audit and Risk Committee. This change is part of Vault’s ongoing board renewal process following its merger with Silver Lake, as the company seeks to balance continuity with the need for new skills and stability during a leadership transition.
The most recent analyst rating on (AU:VAU) stock is a Buy with a A$0.93 price target. To see the full list of analyst forecasts on Vault Minerals Limited stock, see the AU:VAU Stock Forecast page.