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Viking Mines Limited
(Sydney:VKA)
Viking Mines Limited (VKA) vs. iShares MSCI Australia ETF (EWA)
Viking Mines Limited Business Overview & Revenue Model
Viking Mines Limited Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 460.78K | 460.78K | 147.86K | 4.43M | 4.16M | 152.38K |
| Gross Profit | 460.78K | 460.78K | 147.86K | 4.35M | 4.09M | 150.15K |
| EBITDA | -3.04M | -3.04M | -2.70M | 2.31M | 1.45M | -4.66M |
| Net Income | -3.12M | -3.12M | -2.77M | 1.21M | 1.39M | -4.66M |
Balance Sheet | ||||||
| Total Assets | 8.43M | 8.43M | 8.78M | 11.69M | 8.75M | 7.72M |
| Cash, Cash Equivalents and Short-Term Investments | 2.63M | 2.63M | 3.90M | 4.13M | 4.45M | 3.08M |
| Total Debt | 135.81K | 135.81K | 0.00 | 69.49K | 136.12K | 194.50K |
| Total Liabilities | 370.98K | 370.98K | 1.60M | 2.15M | 556.25K | 993.77K |
| Stockholders Equity | 8.06M | 8.06M | 7.18M | 9.54M | 8.19M | 7.47M |
Cash Flow | ||||||
| Free Cash Flow | -3.20M | -3.20M | 133.37K | -479.45K | 1.02M | -3.29M |
| Operating Cash Flow | -3.20M | -3.20M | 133.37K | -370.22K | 1.04M | -3.26M |
| Investing Cash Flow | -710.60K | -710.60K | -214.71K | -109.97K | 83.58K | -162.25K |
| Financing Cash Flow | 2.54M | 2.54M | -69.49K | -66.63K | -58.38K | 5.19M |
Viking Mines Limited 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% | |
46 Neutral | AU$17.10M | -50.00 | -24.31% | ― | ― | 46.67% | |
45 Neutral | AU$18.70M | -4.78 | -41.19% | ― | ― | 14.81% | |
44 Neutral | AU$6.04M | -3.33 | ― | ― | ― | -237.50% | |
43 Neutral | AU$10.58M | -1.09 | -390.08% | ― | ― | 19.94% | |
37 Underperform | AU$42.78M | -45.00 | -32.90% | ― | ― | 42.86% |
Viking Mines Limited Corporate Events
Viking Mines has acquired a comprehensive historical technical dataset for its Linka tungsten project in Nevada for US$35,000, a fraction of the estimated more than A$1 million it would cost to replicate through new drilling. The package covers about 2,816 metres of historical drilling across 68 holes, along with detailed cross-sections, maps, and records of underground workings, giving Viking immediate insight into high-grade zones and enabling rapid 3D geological modelling and planning of validation drilling to bring the project toward JORC-compliant standards, significantly reducing time, capital requirements and exploration risk for stakeholders.
The most recent analyst rating on (AU:VKA) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Viking Mines Limited stock, see the AU:VKA Stock Forecast page.
Viking Mines has expanded its US tungsten landholding in Nevada to about 20 square kilometres by staking additional mining claims across its Linka, Ragged Top, Long and Terrell projects, securing interpreted extensions of known high‑grade tungsten systems and the most prospective geological trends in these areas. The move consolidates control over key mineralised corridors, captures additional historical workings near Ragged Top, and positions Viking for the next exploration phase as it prepares to submit a Notice of Intent to federal agencies for drilling permits, potentially strengthening its strategic footprint in the US tungsten sector and enhancing future exploration upside for stakeholders.
The most recent analyst rating on (AU:VKA) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Viking Mines Limited stock, see the AU:VKA Stock Forecast page.
Viking Mines has reported high-grade tungsten oxide assay results from four metallurgical samples totalling 295kg at its Linka Tungsten Project in Nevada, with one sample from the Linka open pit returning 1.3% WO3 and the weighted average grade across all samples at 1.0% WO3. These results confirm the high-grade nature of scheelite mineralisation at Linka, compare favourably with operating mines globally, and come as tungsten prices for scheelite concentrates remain at record highs, supporting the company’s decision to advance metallurgical testwork and reinforcing the project’s potential strategic value within a Tier 1 jurisdiction as part of Viking’s broader US tungsten portfolio.
The most recent analyst rating on (AU:VKA) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Viking Mines Limited stock, see the AU:VKA Stock Forecast page.
Viking Mines Limited has notified shareholders that it will hold a General Meeting on 12 February 2026 in West Perth, with shareholder eligibility to vote determined as at 4:00pm WST on 10 February 2026. In line with Australian corporate law, the company will not mail hard copies of the Notice of Meeting unless specifically requested, instead directing investors to access the materials online and strongly encouraging shareholders to lodge directed proxy votes and submit questions in advance, underscoring the importance of broad participation in governance matters.
The most recent analyst rating on (AU:VKA) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Viking Mines Limited stock, see the AU:VKA Stock Forecast page.
Viking Mines Limited has updated its previously announced capital raising to increase Tranche 2 of its placement by an additional 40 million shares, as disclosed in a new Appendix 3B filing with the ASX. The enlarged placement, which remains subject to shareholder approval at an upcoming general meeting, is intended to provide the company with increased funding capacity, potentially strengthening its balance sheet and supporting ongoing project and exploration activities, with implications for existing shareholders through further equity issuance.
Viking Mines Limited has issued 339,938,637 new fully paid ordinary shares, expanding its share capital on the ASX. The company has confirmed that these shares were issued without a prospectus under the Corporations Act and has lodged a secondary trading notice so that subsequent on-market sales can rely on the statutory exemption, while affirming its compliance with financial reporting and continuous disclosure obligations and stating there is no undisclosed price-sensitive information relevant to assessing the company or the rights attached to the new shares.
Viking Mines Limited has applied to the ASX for quotation of 339,938,637 ordinary fully paid shares under its ticker VKA, with an issue date of 23 December 2025. The application, lodged as a new Appendix 2A announcement, represents the formal step to have these previously flagged securities admitted to trading, potentially increasing the company’s free float, liquidity and access to capital for ongoing operations and project development.
Viking Mines has agreed to acquire 100% of six past-producing tungsten projects in Nevada, USA, which together have a historic production record of about 123,000 tonnes of ore at 0.54% WO₃ and include high-grade drill targets of up to 2.11% WO₃ ready for immediate follow-up. The transaction is strategically supported by a A$750,000 cornerstone investment from American Tungsten and comes as tungsten prices hit all-time highs amid critical defence demand and Chinese export restrictions, potentially strengthening Viking’s position in the critical minerals supply chain and enhancing its growth prospects in a key US jurisdiction.
Viking Mines Limited will host a free investor webinar on 24 December 2025 via MarketOpen Direct Connect, where Managing Director and CEO Julian Woodcock will outline the company’s recently acquired high-grade, proven tungsten projects in the United States and discuss the strategic investment from American Tungsten. The online event, which includes a Q&A session and will be recorded for later viewing, is aimed at updating shareholders on how the new U.S. tungsten assets and partnership could shape Viking’s growth trajectory and strengthen its positioning in the critical minerals sector.
Viking Mines Limited has announced a proposed issue of securities, with a maximum of 859,138,638 ordinary fully paid shares to be issued. This move is part of a placement or other type of issue, with the proposed issue date set for December 23, 2025. The announcement signifies a strategic effort by Viking Mines Limited to potentially raise capital, which could impact its market positioning and operational capabilities.
Viking Mines Limited has announced its acquisition of a 100% interest in six tungsten projects in Nevada, USA, a strategic move given the geopolitical importance of tungsten and its critical status in the US. This acquisition, supported by a $750,000 investment from American Tungsten, positions Viking to capitalize on the high demand and record prices for tungsten, as well as potential US government funding, enhancing its market position and offering substantial shareholder value.
Viking Mines Limited has requested a trading halt on its securities pending an announcement regarding the acquisition of a Nevada tungsten project and a proposed capital raising. This move is expected to impact the company’s operations by potentially expanding its resource portfolio and enhancing its financial position, which could influence its market standing and stakeholder interests.
Viking Mines Limited has announced a change in its auditing services, appointing Nexia Perth Audit Services Pty Ltd as the new auditor following shareholder approval. This change is expected to impact the company’s financial oversight and reporting processes, potentially influencing its operational transparency and stakeholder confidence.
Viking Mines Limited announced the results of its Annual General Meeting held on 12 November 2025, where all resolutions were passed by poll. Key resolutions included the adoption of the Remuneration Report, re-election of a director, approval of a 10% placement capacity, approval of proportional takeover provisions, and a change of auditor. These decisions reflect the company’s strategic direction and governance priorities, potentially impacting its operational efficiency and shareholder confidence.
Viking Mines Limited reported the recovery of 9.84 grams of gold nuggets from its Riverina East Project during the September quarter, highlighting the project’s potential. The company completed RC drilling and a drone magnetic survey to enhance future exploration efforts along the Zuleika Shear Zone. With a strong cash position of $2.08 million, Viking plans further field programs to assess and drill high-priority targets, aiming to capitalize on the promising gold findings and strengthen its position in the gold mining industry.