Eon NRG Limited (AU:VSR)
ASX:VSR
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Eon NRG Limited
(Sydney:VSR)
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Rating:44Neutral
Price Target:
AU$0.04
â–¼(-40.00% Downside)
Action:Reiterated
Date:06/10/26
The score is held back primarily by weak operating performance and cash generation (zero reported revenue, persistent negative EBIT, and consistently negative free cash flow). Technicals also detract, with the stock trading below major moving averages and negative MACD. A stronger, low-debt balance sheet and a modest P/E provide partial support but are not enough to offset the core execution and cash-flow risks.
Positive Factors
Low leverage and rising equity
A zero-debt capital structure and materially higher equity over 2022–2025 create durable financial flexibility. Low leverage reduces solvency and refinancing risk, giving management optionality for exploration spending, partnerships or capital raises without near-term debt strain.
Negative Factors
Zero reported revenue
The absence of reported revenue is a structural red flag: it implies core operations are not generating sales, undermining sustainable margins, cash generation, and the ability to fund exploration or development from operations. Long-term viability depends on creating real revenue streams.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage and rising equity
A zero-debt capital structure and materially higher equity over 2022–2025 create durable financial flexibility. Low leverage reduces solvency and refinancing risk, giving management optionality for exploration spending, partnerships or capital raises without near-term debt strain.
Read all positive factors
Eon NRG Limited (VSR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$21.09M
Dividend YieldN/A
Average Volume (3M)1.04M
Price to Earnings (P/E)11.8
Beta (1Y)1.02
Revenue GrowthN/A
EPS Growth3000.00%
CountryAU
Employees11
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)<0.01
Shares Outstanding570,050,230
10 Day Avg. Volume644,849
30 Day Avg. Volume1,044,644
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)2.70
Price to Sales (P/S)0.00
P/FCF Ratio-77.62
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
Eon NRG Limited Business Overview & Revenue Model
Company Description
Voltaic Strategic Resources Limited, a mineral exploration company originally incorporated in 2009 as Eon NRG Limited and headquartered in West Perth, Australia, conducts operations across Nevada, USA, and Western Australia. In Nevada, the company...
How the Company Makes Money
null...
Eon NRG Limited Financial Statement Overview
Summary
Income Statement
36
Negative
Balance Sheet
68
Positive
Cash Flow
33
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -56.18K | -58.63K | -31.84K | -973.00 | 0.00 |
| EBITDA | -1.01M | 134.28K | -1.71M | -2.09M | -412.61K |
| Net Income | 1.78M | 75.66K | -1.74M | -2.10M | -434.68K |
Balance Sheet | |||||
| Total Assets | 12.61M | 11.17M | 10.73M | 5.38M | 174.60K |
| Cash, Cash Equivalents and Short-Term Investments | 1.85M | 5.59M | 6.02M | 3.13M | 1.54K |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 39.19K |
| Total Liabilities | 147.40K | 205.69K | 206.60K | 237.45K | 650.13K |
| Stockholders Equity | 12.46M | 10.96M | 10.53M | 5.14M | -475.52K |
Cash Flow | |||||
| Free Cash Flow | -433.84K | -326.43K | -3.82M | -2.28M | -52.55K |
| Operating Cash Flow | -405.39K | 461.68K | -1.33M | -1.78M | -43.50K |
| Investing Cash Flow | -3.19M | -1.04M | -2.53M | 118.14K | -9.05K |
| Financing Cash Flow | 0.00 | 0.00 | 6.74M | 4.79M | 38.05K |
Eon NRG Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
57 Neutral | AU$18.72M | -17.81 | -6.54% | ― | 27.55% | -60.00% | |
52 Neutral | AU$21.05M | -110.91 | -6.83% | 16.82% | ― | 55.00% | |
45 Neutral | AU$15.06M | -6.05 | -1.81% | ― | ― | 12.50% | |
44 Neutral | AU$21.09M | 11.80 | 14.97% | ― | ― | 3000.00% | |
42 Neutral | AU$16.29M | -1.80 | -35.17% | ― | ― | 64.71% |
* Energy Sector Average
AU:VSR
Eon NRG Limited
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184.62%
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Eon NRG Limited Corporate Events
Voltaic Strategic Resources Sets June 2026 Expiry for Listed Options
Jun 2, 2026
Voltaic Strategic Resources has notified holders of its listed options (ASX: VSRO) that these securities, exercisable at $0.08 each, will expire at 5:00pm AEST on 30 June 2026. Official quotation of the options will cease at the close of ASX tradi...
Voltaic Strategic Resources Wins Shareholder Backing for Board, Acquisition and Capital Flexibility
May 29, 2026
Voltaic Strategic Resources Limited reported the results of its 2026 Annual General Meeting, confirming that all resolutions put to shareholders were passed by poll. Shareholders endorsed the remuneration report and re-elected directors Michael Wa...
Voltaic Director Daniel Raihani Lifts Indirect Shareholding
May 13, 2026
Voltaic Strategic Resources has disclosed a change in director Daniel Raihani’s indirect interest in the company’s securities. Through 7 Enterprises Pty Ltd, Raihani increased his holding by acquiring 6,032,612 ordinary shares at $0.03...
Voltaic Director Boosts Indirect Stake with On- and Off-Market Share Buys
May 11, 2026
Voltaic Strategic Resources has reported a change in the indirect shareholding of director Daniel Raihani, as disclosed in a notice to the ASX. The update reflects adjustments in his interests held through 7 Enterprises Pty Ltd and clarifies his r...
Voltaic Strategic Resources sets May 2026 AGM to vote on pay and board changes
Apr 29, 2026
Voltaic Strategic Resources Limited has convened its annual general meeting for 10:30am AWST on 29 May 2026 at its Perth premises, inviting shareholders of record as at 27 May 2025 to participate. The meeting will review the 2025 annual report and...
Voltaic Issues New Shares to Fund Industrial Metals Acquisition
Apr 26, 2026
Voltaic Strategic Resources Limited has issued 2,500,000 new shares at $0.04 per share as part of its acquisition of Industrial Metals Pty Ltd, expanding its exposure to industrial metals assets. This equity-based consideration supports the compan...
Voltaic Expands Gascoyne Footprint With Strategic Yinnetharra Tenement Buy
Apr 26, 2026
Voltaic Strategic Resources has completed the acquisition of Industrial Metals Pty Ltd, securing 100% of exploration licence E09/2833, which lies immediately adjacent to its Ti Tree project and contiguous with Delta Lithium’s Yinnetharra ten...
Voltaic Strategic Resources Seeks Quotation for 2.5 Million New Shares
Apr 26, 2026
Voltaic Strategic Resources has applied for quotation on the ASX of 2,500,000 new ordinary fully paid shares, with an issue date of 24 April 2026. The move increases the number of listed VSR securities and reflects the conversion of previously ann...
Voltaic sharpens WA exploration targets and bolsters lithium footprint
Apr 23, 2026
Voltaic Strategic Resources used the March quarter to advance technical studies, refine targets and design exploration programs across its Western Australian tenements while deferring fieldwork. The company reviewed historical datasets, integrated...
Voltaic Strategic Resources Plans 2.5 Million-Share Placement on ASX
Apr 13, 2026
Voltaic Strategic Resources Ltd has notified the ASX of its intention to issue up to 2,500,000 ordinary fully paid shares in a placement or similar type of capital raising, with the proposed issue date set for 15 May 2026. The additional equity is...
Voltaic Expands Ti Tree Footprint With Strategic Yinnetharra Tenement Deal
Apr 13, 2026
Voltaic Strategic Resources has agreed to acquire Industrial Metals Pty Ltd, giving it 100% ownership of exploration licence E09/2833, a tenement immediately adjoining its Ti Tree Project and contiguous with Delta Lithium’s Yinnetharra groun...
Voltaic Extends Ti Tree Lithium JV and Advances Key Tenure Approvals
Apr 1, 2026
Voltaic Strategic Resources has extended its Ti Tree Earn-in and Joint Venture Agreement with Delta Lithium and Electrostate Malinda to September 2026, maintaining the existing terms. The JV covers granted tenure interpreted to host the same regio...
Voltaic Strategic Resources lodges updated ASX corporate governance disclosures
Mar 31, 2026
Voltaic Strategic Resources Limited has lodged its updated corporate governance statement for the year ended 31 December 2025, confirming that the document is current as of 31 March 2026 and has been approved by the board. The company has also sub...
Voltaic Strategic Resources Updates Corporate Governance Framework for 2025
Mar 31, 2026
Voltaic Strategic Resources has outlined its corporate governance framework for the year ended 31 December 2025, confirming broad alignment with the ASX Corporate Governance Council’s fourth edition principles while adjusting for its size an...
Voltaic Strategic Resources refreshes board and governance in 2025 annual report
Mar 31, 2026
Voltaic Strategic Resources Limited has released its annual report for the year ended 31 December 2025, outlining the composition of its board, governance team, and key corporate details. The company has undergone notable board changes during the ...
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.