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$0.55
â–¼(-1.07% Downside)
Action:Reiterated
Date: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 near-term solvency and refinancing risk, giving management structural flexibility to fund operations or projects via equity or non-debt instruments. Over 2-6 months this lowers the chance of distress and preserves optionality for strategic moves or capital raises.
Negative Factors
Sustained cash burn
Persistent negative operating and free cash flows create ongoing funding dependence and raise the likelihood of dilution or costly capital raises. Over a 2-6 month horizon, continued cash burn can constrain investment flexibility, slow project progress, and increase strategic vulnerability if external financing conditions tighten.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
Negligible debt materially reduces near-term solvency and refinancing risk, giving management structural flexibility to fund operations or projects via equity or non-debt instruments. Over 2-6 months this lowers the chance of distress and preserves optionality for strategic moves or capital raises.
Read all positive factors
Battery Minerals Ltd. (WTM) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$217.14M
Dividend YieldN/A
Average Volume (3M)1.24M
Price to Earnings (P/E)―
Beta (1Y)2.74
Revenue GrowthN/A
EPS Growth48.94%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.07
Shares Outstanding387,752,320
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 Target
AU$1.05Price Target Upside87.50% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.06
Revenue Forecast (FY)N/A
Battery Minerals Ltd. Business Overview & Revenue Model
Company Description
Waratah Minerals Limited functions as a multifaceted enterprise primarily focused on the exploration for mineral resources, with a particular emphasis on discovering deposits of copper, gold, and nickel. The company possesses full ownership of the...
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.
0.56
0.28
96.49%
GB:NFM
Castillo Copper Ltd.
0.38
-0.15
-28.57%
DE:F930
Hexagon Energy Materials Ltd.
0.05
<0.01
4.55%
AU:JLL
Jindalee Resources Limited
0.37
-0.01
-3.39%
AU:FLG
Pan Asia Metals Ltd.
0.21
0.16
412.50%
Battery Minerals Ltd. Corporate Events
Waratah Minerals issues additional performance rights to director Darryl Clark
Jun 17, 2026
Waratah Minerals has disclosed a change in the interests of director Darryl Clark, who has been issued 1,000,000 performance rights in the company at nil consideration. The new securities, which expire on 17 June 2029 and trade under ASX code WTMA...
Waratah Minerals boosts director equity exposure with new performance rights
Jun 17, 2026
Waratah Minerals has disclosed a change in director Andrew Stewart’s interests, with the issue of 4,250,000 performance rights expiring on 17 June 2029 to A L Stewart Family Pty Ltd, an entity through which he holds indirect interests. The p...
Waratah Minerals Grants Additional Performance Rights to Director
Jun 17, 2026
Waratah Minerals has disclosed a change in director Darryl Clark’s interests following the issue of 1,000,000 performance rights expiring on 17 June 2029. The performance rights, issued for nil consideration, were approved by shareholders at...
Waratah Minerals boosts director equity with new performance rights grant
Jun 17, 2026
Waratah Minerals Limited has updated the market on a change in director Naomi Scott’s interests, following the issue of 2,500,000 performance rights expiring on 17 June 2029. The allocation, approved by shareholders in May 2026 at no cash co...
Waratah Minerals boosts director exposure with new performance rights issue
Jun 17, 2026
Waratah Minerals has reported a change in director Peter Duerden’s relevant interests following the issue of 3,500,000 performance rights to an associated entity, Duerden Investments Pty Ltd, for nil consideration. The new performance rights...
Waratah Minerals Issues 11.25 Million Unquoted Performance Rights
Jun 17, 2026
Waratah Minerals Limited has notified the market of the issue of 11,250,000 unquoted performance rights under its employee incentive scheme. The securities, which are not intended to be quoted on the ASX, were issued on 17 June 2026 and reflect th...
Waratah Minerals Issues New Shares as Consideration Under Option Deed
Jun 17, 2026
Waratah Minerals Ltd has issued 71,788 fully paid ordinary shares at a deemed price of $0.6965 per share as partial consideration to the shareholder of M.N.I. Mining Pty Ltd for an initial option fee under a previously announced binding option dee...
Waratah Minerals plans modest new share issue to raise equity capital
Jun 2, 2026
Waratah Minerals Limited has lodged an Appendix 3B notice with the ASX outlining a proposed placement or other type of issue of up to 71,942 ordinary fully paid shares. The new securities, which are expected to be issued on 29 June 2027, indicate ...
Waratah Minerals Secures Full Control of Spur Gold District With Goldenclad Option
Jun 1, 2026
Waratah Minerals has signed a binding option deed to acquire 100% of the entity holding the Goldenclad Mining Leases, which host several historic small-scale gold mines and untested mineralised structures. Combined with Waratah’s existing te...
Waratah Minerals Appoints New Director and Discloses Initial Shareholding
May 29, 2026
Waratah Minerals Limited has appointed Johan van Vuuren as a director effective 26 May 2026, and has lodged an Initial Director’s Interest Notice with the ASX outlining his holdings. The filing shows van Vuuren has no securities registered d...
Waratah Minerals Adds Former Maaden Executive to Board to Steer Growth Push
May 26, 2026
Waratah Minerals has strengthened its board with the appointment of Johan Van Vuuren as an independent non-executive director, bringing extensive global experience in corporate strategy, MA, international finance and ESG-focused investment across ...
Waratah Minerals Publishes AGM Voting Outcomes
May 25, 2026
Waratah Minerals has reported the results of its Annual General Meeting held on 25 May 2026, in line with ASX Listing Rule 3.13.2 and Section 251AA of the Corporations Act. The company released a report summarising poll voting outcomes and proxy v...
Waratah Minerals Trumpets Spur Gold Breakthrough as Market Value Surges
May 25, 2026
Waratah Minerals used its 2026 annual general meeting to highlight a transformational 18-month period marked by strong exploration success and a decisive strategic pivot to gold. The company’s work at the Spur Gold Project, including more th...
Waratah Minerals Plans Major Share Placement to Raise Capital
May 7, 2026
Waratah Minerals Limited has notified the ASX of a proposed placement of up to 77,419,355 ordinary fully paid shares. The new securities are scheduled for issue on 14 May 2026, marking a substantial capital-raising move that could bolster the comp...
Waratah Minerals raises A$48m to accelerate drilling at Spur Gold Project
May 7, 2026
Waratah Minerals has secured firm commitments to raise A$48 million through a share placement at A$0.62 per share to institutional, sophisticated and professional investors. The raise, completed at roughly a 12% discount to the last closing price,...
Battery Minerals Touts Aggressive Gold-Copper Exploration Strategy
May 5, 2026
Battery Minerals Ltd. is positioning itself as an emerging gold-copper explorer with large district-scale tenements in New South Wales and Victoria, including the Spur and Stavely-Stawell projects. The company emphasises its experienced management...
Waratah Minerals Requests ASX Trading Halt Ahead of Capital Raising
May 5, 2026
Waratah Minerals has requested and been granted a trading halt on its ordinary shares on the ASX from the start of trading on 5 May 2026. The halt will remain in place until either the company releases a capital raising placement announcement or t...
Waratah Minerals hits major high-grade intercepts at Spur Gold Project
Apr 30, 2026
Waratah Minerals has reported strong assay results from five diamond drill holes at its Spur Gold Project in New South Wales, highlighting substantial gold mineralisation in both the Consols and Spur zones. The latest Consols drilling, including d...
Waratah Minerals Extends High-Grade Gold Zones at Spur and Consolidates Land Position
Apr 29, 2026
Waratah Minerals advanced its 80,000-metre drilling campaign at its 100%-owned Spur Gold Project during the March quarter, deploying 10 diamond rigs and completing 14,822 metres of drilling across 26 holes. The work focused on defining and expandi...
Waratah Minerals Director Options Lapse After Expiry
Apr 24, 2026
Waratah Minerals has reported a change in director Naomi Scott’s holdings, confirming the lapse and cancellation of a series of unlisted options after their exercise period expired. Scott disposed of 66,667 unlisted options exercisable at $1...
Waratah Minerals Sets 2026 AGM to Vote on Director Remuneration and Performance Rights
Apr 23, 2026
Waratah Minerals Limited has called its 2026 annual general meeting for 25 May in Sydney, setting 23 May as the record date to determine shareholder voting eligibility. The agenda includes receiving the 2025 financial statements and reports, along...
Waratah Minerals Options Expire Unexercised, Trimming Potential Dilution
Apr 22, 2026
Waratah Minerals Limited has announced the expiry of two series of listed options without exercise, each originally expiring on 31 March 2026. A total of 166,668 options with a strike price of $1.20 and 166,668 options with a strike price of $1.65...
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...
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.