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Western Mines Group Ltd
(Sydney:WMG)
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Rating:42Neutral
Price Target:
AU$0.19
▼(-16.52% Downside)
Action:Reiterated
Date:05/21/26
The score is driven primarily by weak financial performance (ongoing losses, inconsistent revenue, and persistent cash burn), partially offset by a debt-free balance sheet. Technicals further pressure the score with the stock trading below key moving averages and a negative MACD. Valuation is constrained by negative earnings and no dividend data.
Positive Factors
Debt-free balance sheet
A debt-free balance sheet materially lowers financial risk and preserves optionality for a junior explorer. With no near-term refinancing needs, management can prioritize exploration spending or strategic partnerships rather than interest servicing, improving resilience through commodity cycles over the next 2–6 months.
Negative Factors
Persistent losses
Chronic net losses and near-zero, inconsistent revenue indicate the business has not reached a sustainable commercial footing. Continued losses erode equity and heighten dependence on external capital; absent a clear path to material revenue, profitability risks remain elevated over upcoming months.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
A debt-free balance sheet materially lowers financial risk and preserves optionality for a junior explorer. With no near-term refinancing needs, management can prioritize exploration spending or strategic partnerships rather than interest servicing, improving resilience through commodity cycles over the next 2–6 months.
Read all positive factors
Western Mines Group Ltd (WMG) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$19.35M
Dividend YieldN/A
Average Volume (3M)114.91K
Price to Earnings (P/E)―
Beta (1Y)1.57
Revenue GrowthN/A
EPS Growth-36.53%
CountryAU
Employees7
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.03
Shares Outstanding113,800,970
10 Day Avg. Volume52,334
30 Day Avg. Volume114,906
Financial Highlights & Ratios
PEG Ratio3.38
Price to Book (P/B)1.20
Price to Sales (P/S)1383.95
P/FCF Ratio-4.26
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
Western Mines Group Ltd Business Overview & Revenue Model
Company Description
Founded in 2020 and based in West Perth, Australia, Western Mines Group Ltd is a mineral exploration firm dedicated to identifying and advancing mineral properties throughout Australia. The company's exploration efforts primarily target nickel, co...
How the Company Makes Money
WMG does not have publicly confirmed, recurring operating revenue from the sale of mined commodities (null). As an exploration-stage company, it typically funds its activities through capital markets (e.g., issuing equity to investors) and may als...
Western Mines Group Ltd Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.37K | 10.37K | 0.00 | 47.26K | 0.00 | 0.00 |
| Gross Profit | -21.90K | 10.37K | -49.37K | 38.42K | -1.60K | 0.00 |
| EBITDA | -2.94M | -1.22M | -1.33M | -1.09M | -1.27M | -128.99K |
| Net Income | -3.04M | -1.73M | -1.38M | -1.05M | -1.07M | -902.95K |
Balance Sheet | ||||||
| Total Assets | 15.51M | 12.20M | 11.74M | 8.92M | 6.03M | 1.20M |
| Cash, Cash Equivalents and Short-Term Investments | 3.14M | 1.56M | 2.13M | 3.27M | 3.68M | 335.49K |
| Total Debt | 68.86K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 769.13K | 251.75K | 2.09M | 852.95K | 833.97K | 210.84K |
| Stockholders Equity | 14.74M | 11.95M | 9.65M | 8.06M | 5.20M | 989.02K |
Cash Flow | ||||||
| Free Cash Flow | -4.21M | -3.37M | -5.45M | -4.08M | -1.96M | -237.60K |
| Operating Cash Flow | -1.99M | -1.15M | -971.00K | -839.05K | -891.20K | -167.84K |
| Investing Cash Flow | 231.63K | -1.82M | -4.08M | -3.24M | -869.62K | -69.76K |
| Financing Cash Flow | 3.48M | 2.41M | 3.90M | 3.67M | 5.11M | 525.17K |
Western Mines Group Ltd Technical Analysis
Negative
0.23
Price Trends
0.19
Negative
0.20
Negative
0.22
Negative
Market Momentum
>-0.01
Positive
38.47
Neutral
16.67
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:WMG, the sentiment is Negative. The current price of 0.23 is above the 20-day moving average (MA) of 0.19, above the 50-day MA of 0.19, and above the 200-day MA of 0.22, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 38.47 is Neutral, neither overbought nor oversold. The STOCH value of 16.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:WMG.
Western Mines Group 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% | |
54 Neutral | AU$25.25M | -8.21 | -88.16% | ― | ― | 16.00% | |
46 Neutral | AU$21.58M | -11.00 | -9.73% | ― | ― | 62.96% | |
44 Neutral | AU$23.74M | -2.16 | -28.97% | ― | ― | 75.79% | |
43 Neutral | AU$22.92M | -3.58 | -58.76% | ― | ― | 28.68% | |
42 Neutral | AU$19.35M | -5.63 | -22.76% | ― | ― | -36.53% | |
40 Underperform | AU$17.07M | -4.62 | -78.42% | ― | ― | 46.51% |
* Basic Materials Sector Average
AU:WMG
Western Mines Group Ltd
0.17
-0.07
-29.17%
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Prodigy Gold NL
0.07
0.02
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OzAurum Resources Ltd.
0.09
>-0.01
-3.33%
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0.02
-0.03
-60.00%
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Gold Mountain Limited
0.07
-0.03
-28.16%
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Marvel Gold Ltd.
0.01
>-0.01
-14.29%
Western Mines Group Ltd Corporate Events
Western Mines advances Phase 5 drilling at Mulga Tank with promising sulphide hits
Jul 1, 2026
Western Mines Group has reported strong progress on its Phase 5 drilling campaign at the Mulga Tank nickel-copper-cobalt-PGE project, completing 10 reverse circulation holes totaling 3,114m, all of which encountered visible disseminated sulphide m...
Western Mines Extends High-Grade Nickel Zones as Mulga Tank Drilling Ramps Up
May 24, 2026
Western Mines Group reported new geochemical assay results from shallow diamond hole MTD031 at its Mulga Tank Project, confirming a near-continuous 230.2m zone of nickel sulphide mineralisation with elevated nickel, cobalt, copper and PGEs, includ...
Western Mines Advances Mulga Tank Drilling and Expands Nickel-Copper Portfolio
Apr 30, 2026
Western Mines Group reported a strong quarter marked by completion of Phase 4 drilling and the start of Phase 5 at its Mulga Tank Ni-Co-Cu-PGE Project, delivering standout nickel sulphide intercepts including grades up to 4.35% nickel in new miner...
Western Mines Group Seeks ASX Quotation for Additional Shares
Apr 29, 2026
Western Mines Group Ltd has applied for quotation on the ASX of 52,631 new ordinary fully paid shares under its existing listing. The additional securities, issued on 29 April 2026, marginally increase the company’s quoted capital base and m...
Western Mines Issues Shares to Secure Mt Narryer Exploration Data
Apr 29, 2026
Western Mines Group Ltd has strengthened its exploration position at the Mt Narryer tenements by issuing 52,631 fully paid ordinary shares at $0.19 each as non-cash consideration for exploration data. The shares were issued to an institutional inv...
Western Mines Wins A$250,000 Grant for Mulga Tank Seismic Survey
Apr 26, 2026
Western Mines Group has secured a A$250,000 grant under Western Australia’s Co-funded Geophysics Program to finance an active seismic survey at its Mulga Tank nickel project in the Minigwal Greenstone Belt. The award, representing 50% of sur...
Western Mines Group Plans Modest Share Placement on ASX
Apr 24, 2026
Western Mines Group Ltd has notified the ASX of a proposed issue of 52,631 ordinary fully paid shares. The new securities are to be quoted under its existing WMG code, reflecting the company’s ongoing use of equity capital markets to support...
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.