Battery Minerals Ltd. (AU:WTM)
ASX:WTM
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Battery Minerals Ltd.
(Sydney:WTM)
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Rating:48Neutral
Price Target:
AU$0.75
â–²(34.29% Upside)
Action:ReiteratedDate:03/27/26
The score is primarily constrained by weak financial performance—minimal revenue, large ongoing losses, and sustained cash burn that increases reliance on external funding. Technicals provide a partial offset as the price is trading above key moving averages, but momentum is mixed. Valuation is also limited by loss-making results (negative P/E) and no dividend support.
Positive Factors
Low leverage / strong balance sheet
Negligible debt materially reduces solvency and refinancing risk, giving management time to pursue operational plans without immediate creditor pressure. Over a 2–6 month horizon this durable balance-sheet strength supports funding flexibility and lowers the probability of distress.
Negative Factors
Sustained cash burn
Persistent negative operating and free cash flow depletes reserves and creates an ongoing reliance on external capital. Over several months this structural cash burn raises dilution and refinancing risk, constraining strategic investments and making long-term planning dependent on capital markets access.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
Negligible debt materially reduces solvency and refinancing risk, giving management time to pursue operational plans without immediate creditor pressure. Over a 2–6 month horizon this durable balance-sheet strength supports funding flexibility and lowers the probability of distress.
Read all positive factors
Battery Minerals Ltd. (WTM) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$235.80M
Dividend YieldN/A
Average Volume (3M)1.24M
Price to Earnings (P/E)―
Beta (1Y)2.46
Revenue GrowthN/A
EPS GrowthN/A
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.04
Shares Outstanding310,261,170
10 Day Avg. Volume1,784,484
30 Day Avg. Volume1,239,494
Financial Highlights & Ratios
PEG Ratio0.15
Price to Book (P/B)3.73
Price to Sales (P/S)0.00
P/FCF Ratio-10.10
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)-0.04
Revenue Forecast (FY)N/A
Battery Minerals Ltd. Business Overview & Revenue Model
Company Description
Waratah Minerals Limited operates as a diversified minerals exploration company. It explores for copper, gold, and nickel deposits. The company holds a 100% interest in the Spur Project, consisting of EL5238 located in central western New South Wa...
How the Company Makes Money
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Battery Minerals Ltd. Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
62
Positive
Cash Flow
24
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 7.45K | 0.00 | 0.00 |
| Gross Profit | -104.94K | -44.56K | 7.45K | 370.33K | -153.59K |
| EBITDA | -17.36M | -20.32M | -4.11M | -4.65M | -4.75M |
| Net Income | -17.09M | -24.12M | -8.10M | 866.52K | -5.95M |
Balance Sheet | |||||
| Total Assets | 35.93M | 10.50M | 24.46M | 23.52M | 20.84M |
| Cash, Cash Equivalents and Short-Term Investments | 28.63M | 4.23M | 3.73M | 693.08K | 3.91M |
| Total Debt | 39.23K | 87.90K | 0.00 | 12.25K | 195.79K |
| Total Liabilities | 1.85M | 612.32K | 373.64K | 451.14K | 2.04M |
| Stockholders Equity | 34.07M | 9.89M | 24.08M | 23.07M | 18.80M |
Cash Flow | |||||
| Free Cash Flow | -12.58M | -4.96M | -3.50M | 955.12K | -5.80M |
| Operating Cash Flow | -12.12M | -4.87M | -3.50M | 987.74K | -5.73M |
| Investing Cash Flow | -548.05K | 16.33K | 1.56M | 214.73K | -207.36K |
| Financing Cash Flow | 37.06M | 7.80M | 2.51M | 1.78M | 2.51M |
Battery Minerals Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
AU:WTM
Battery Minerals Ltd.
0.75
0.59
354.55%
GB:NFM
Castillo Copper Ltd.
0.45
-0.20
-30.77%
DE:F930
Hexagon Energy Materials Ltd.
0.04
0.00
0.00%
AU:JLL
Jindalee Resources Limited
0.63
0.37
145.10%
AU:FLG
Pan Asia Metals Ltd.
0.26
0.19
264.29%
Battery Minerals Ltd. Corporate Events
Battery Minerals flags emerging large-scale gold discovery in Australia
Apr 15, 2026
Battery Minerals Ltd., listed on the ASX as WTM, is a resources exploration company focused on gold and copper, with district-scale tenements in New South Wales and Victoria. Its portfolio includes the Spur and Stavely-Stawell projects, aimed at u...
Waratah Minerals Extends High-Grade Gold Zones at Spur Project
Apr 14, 2026
Waratah Minerals has reported strong new assay results from its ongoing diamond drilling program at the Spur Gold Project in New South Wales, with 10 rigs currently operating across the Spur and Consols zones. The latest holes have delivered multi...
Waratah Minerals Sets Date for 2026 AGM and Director Nomination Deadline
Mar 27, 2026
Waratah Minerals has scheduled its 2026 Annual General Meeting for Monday, 25 May 2026, with further details to be provided in a forthcoming Notice of Meeting to shareholders and the ASX. The company has also set 10 April 2026 as the closing date ...
Waratah Minerals Issues 2.35 Million Unquoted Performance Rights Under Incentive Scheme
Mar 25, 2026
Waratah Minerals Limited has notified the market of the issue of 2,350,000 unquoted performance rights under its employee incentive scheme, dated 19 February 2026. The move underscores the company’s continued use of equity-based compensation...
Waratah Minerals Issues New Shares Following Option Exercise
Mar 25, 2026
Waratah Minerals Ltd. has issued 1,000,000 new fully paid ordinary shares at $0.16 each following the exercise of options, modestly expanding its share capital base. The company confirmed the shares were issued without a prospectus under section 7...
Waratah Minerals Extends High-Grade Gold at Spur Project and Expands Drilling Campaign
Mar 25, 2026
Waratah Minerals has reported significant new assay results from five diamond drill holes at its Spur Gold Project in New South Wales, including broad, shallow and high-grade gold intercepts at both the Spur and Consols zones. The latest holes hav...
Waratah Minerals Relocates Registered Office and Principal Place of Business
Mar 25, 2026
Waratah Minerals has announced a change to its registered office, which will now be located at MUFG Corporate Governance in Liberty Place, Castlereagh Street, Sydney, effective 25 March 2026. At the same time, the company’s principal place o...
Waratah Mineral Sets Out ASX-Aligned Governance Framework for FY2025
Mar 25, 2026
Waratah Mineral Limited has detailed its corporate governance framework for FY2025, confirming that its practices substantially conform with the ASX Corporate Governance Council’s fourth-edition guidelines as at 25 March 2026. The board has ...
Battery Minerals Releases Comprehensive 2025 Annual Report
Mar 25, 2026
Battery Minerals Ltd. has released its Annual Report for the year ended 31 December 2025, outlining its corporate information, chairman’s letter, review of operations and detailed financial statements. The report also includes directors̵...
Waratah Minerals Seeks ASX Quotation for 1 Million New Shares
Mar 20, 2026
Waratah Minerals Limited has applied for quotation on the ASX of 1,000,000 new ordinary fully paid shares under the code WTM, with an issue date of March 20, 2026. The additional securities, arising from the exercise or conversion of existing inst...
Regal Partners Exits Substantial Holder Position in Waratah Minerals
Mar 6, 2026
Regal Partners Funds Management Pty Ltd, together with related entities under Regal Partners Ltd, has ceased to be a substantial holder in Waratah Minerals Ltd, according to a notice lodged under Australia’s Corporations Act. The move follow...
Waratah Minerals Extends High-Grade Gold Systems at Spur and Consols
Mar 1, 2026
Waratah Minerals has reported strong new drilling results from its Spur Gold Project in New South Wales, with assays from six diamond drill holes at the Spur and Consols Zones returning broad and higher-grade gold intercepts. The company now has s...
Waratah Minerals Reports High Gold Recoveries and Simple Processing Pathway at Spur Project
Feb 9, 2026
Waratah Minerals reported initial geometallurgical results from the Spur Zone at its Spur Project in New South Wales, showing high overall gold recoveries of 90% to 97% using a combination of gravity and conventional cyanide leaching. The test wor...
Waratah Minerals Showcases Emerging Large-Scale Gold Discovery at Eastern Seaboard Conference
Feb 2, 2026
Waratah Minerals has released an investor presentation to be delivered at the Eastern Seaboard Precious Base Metals Conference, highlighting its status as an emerging large-scale gold discovery play. The presentation underscores the company’...
Waratah Minerals Hits Highest-Grade Gold Yet at Spur Project
Feb 1, 2026
Waratah Minerals has reported a suite of exceptional new drill results from its Spur Gold Project in New South Wales, with assays from the Consols and Spur zones confirming extensive high-grade gold mineralisation and expanding the known system bo...
Waratah Minerals Boosts Cash Reserves Through Equity Raising Despite Exploration Outflows
Jan 26, 2026
Waratah Minerals Limited reported its quarterly cash flow for the period ended 31 December 2025, showing net operating cash outflows of A$4.25 million driven primarily by exploration and evaluation expenditure and administration costs, and modest ...
Waratah Minerals Extends High-Grade Gold Zones at Spur Project Amid Aggressive Drilling Push
Jan 26, 2026
Waratah Minerals reported a strong December quarter marked by aggressive exploration at its Spur gold project, where an 80,000-metre drilling program and seven active rigs at the Spur and Consols zones are delivering multiple high-grade gold inter...
Waratah Minerals Launches 80,000m Drill Program to Accelerate Growth at Spur Gold Project
Jan 21, 2026
Waratah Minerals has commenced an 80,000-metre growth and discovery drilling campaign at its wholly owned Spur Gold Project in New South Wales, intensifying efforts to rapidly expand known gold mineralisation and make new high-grade discoveries be...
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.