Todd River Resources Ltd. (XRA) AI Stock Analysis

• Market Cap: AU$15.53M
• Dividend Yield: N/A
• Average Volume (3M): 173.29K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.34
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): -0.04
• Shares Outstanding: 60,900,368
• 10 Day Avg. Volume: 168,238
• 30 Day Avg. Volume: 173,291
• PEG Ratio: 0.03
• Price to Book (P/B): 0.20
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -0.76
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: AU$0.25 ▲(19.05% Upside)

The score is primarily held down by weak financial performance: no revenue, widening losses, and persistent negative free cash flow indicating funding dependence. Technicals are mixed but not strong enough to offset fundamentals, and valuation is limited by negative earnings and no dividend support.

Positive Factors

Low Leverage

Very low debt levels materially reduce refinancing and solvency risk for a pre-revenue explorer. This financial flexibility supports continued funding of exploration programs and preserves optionality to raise project finance or equity without immediate liquidity pressure.

Improving Cash Burn Trend

A year-over-year improvement in free cash flow signals management is slowing the cash burn rate. If sustained, this trend extends runway, reduces near-term funding needs, and increases the chance exploration programs can proceed without immediate dilutive financing.

Equity Cushion Remains

Although reduced, a positive equity base still provides a tangible balance sheet buffer to absorb ongoing losses and support exploration activity. This residual capital headroom improves survivability compared with entities already at or below zero equity.

Negative Factors

No Revenue

Being pre-revenue means there is no operating sales base to fund activities or demonstrate product-market fit. Long lead times to commercialization increase reliance on external capital and make sustainable profitability and operating leverage uncertain.

Persistent Negative Cash Flow

Ongoing negative operating and free cash flow implies continued external financing will be required to fund operations. Persistent cash burn raises dilution risk, constrains ability to scale exploration, and heightens exposure to funding-market conditions.

Equity Erosion and Negative Returns

Material equity decline and deeply negative ROE indicate the company is destroying capital rather than generating returns. This weakens investor protection, lowers financial flexibility for project financing, and signals deterioration in long-term shareholder value creation.

Todd River Resources Ltd. Business Overview & Revenue Model

Company Description

Xenora Minerals Limited engages in exploration and evaluation of mineral resources in Australia and Canada. It explores for gold, uranium, lithium, copper, zinc, lead, nickel, base, and precious metals deposits. The company was formerly known as Trinex Minerals Limited and changed its name to Xenora Minerals Limited in September 2025. Xenora Minerals Limited was incorporated in 2014 and is based in Subiaco, Australia.

How the Company Makes Money

Todd River Resources Ltd. Financial Statement Overview

Summary

Financials are weak: the company is pre-revenue with widening net losses and deeply negative EBITDA, and free cash flow remains negative (ongoing cash burn). The main positive is low leverage, but equity has declined materially, indicating continued funding dependence and elevated execution risk.

Income Statement

The company reports no revenue across the provided annual periods, indicating it is still pre-commercial or not generating operating sales. Losses are persistent and sizable, with net income deteriorating from -3.1M (2023) to -4.9M (2024) and -6.9M (2025), alongside deeply negative EBITDA in each year. Profitability is therefore weak and volatile, and with no revenue base, there is limited visibility on operating leverage or a path to near-term earnings.

Balance Sheet

Leverage is very low, with debt-to-equity staying around ~0.8%–2.7% over the periods shown, which reduces refinancing and solvency risk. However, equity fell materially from 15.2M (2024) to 9.7M (2025), consistent with ongoing losses and/or dilution/asset write-downs. Returns on equity are strongly negative (roughly -32% to -71%), highlighting that the balance sheet is being consumed by recurring deficits despite modest debt levels.

Cash Flow

Cash generation is weak: free cash flow is consistently negative (about -2.5M in 2025 and -5.3M in 2024), reflecting ongoing cash burn. While free cash flow improved year-over-year in 2025 versus 2024, operating cash flow is still negative in 2025, and the business does not yet demonstrate self-funding operations. The cash profile suggests continued dependence on external funding (equity raises or other sources) unless spending is reduced or revenue begins.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	-77.29K	-77.29K	0.00	0.00	0.00
EBITDA	-6.79M	-6.79M	-4.81M	-3.02M	-5.73M
Net Income	-6.88M	-6.88M	-4.93M	-3.08M	-5.76M
Balance Sheet
Total Assets	10.30M	10.30M	16.79M	9.33M	13.66M
Cash, Cash Equivalents and Short-Term Investments	1.16M	1.16M	2.80M	2.67M	6.65M
Total Debt	81.81K	81.81K	154.11K	229.68K	35.94K
Total Liabilities	599.83K	599.83K	1.56M	679.19K	200.74K
Stockholders Equity	9.70M	9.70M	15.23M	8.65M	13.27M
Cash Flow
Free Cash Flow	-2.50M	-2.50M	-5.32M	-3.08M	-2.52M
Operating Cash Flow	-2.50M	-2.50M	0.00	0.00	0.00
Investing Cash Flow	-32.47K	-32.47K	-1.91M	-139.54K	-181.15K
Financing Cash Flow	892.62K	892.62K	5.59M	1.26M	7.53M

Todd River Resources Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%

Todd River Resources Ltd. Corporate Events

Xenora Ramps Up Dudley Lithium Exploration After Geochemical Upgrade

Xenora Minerals has restarted on-ground exploration at its Dudley Lithium Project in South Australia following a detailed geochemical review that identified highly prospective zones for lithium-bearing pegmatites. The latest work program includes infill and extensional soil sampling over priority targets defined by advanced geochemical studies, which confirm strong LCT pegmatite fertility and highlight the main Dudley pegmatite and nearby anomalies as key drill targets. The company ended the December 2025 quarter with a strong cash position of A$2.69 million after completing a A$2.1 million placement, underpinning its ongoing exploration at Dudley and its broader strategy of reviewing additional resource opportunities to enhance shareholder value.

The most recent analyst rating on (AU:XRA) stock is a Hold with a A$0.34 price target. To see the full list of analyst forecasts on Todd River Resources Ltd. stock, see the AU:XRA Stock Forecast page.

Xenora Advances Dudley Lithium Farm-In as It Targets Majority Stake

Xenora Minerals has elected to proceed to Stage 1b of its farm-in agreement with South Australia Lithium Pty Ltd on the Dudley Lithium Project, paying A$37,500 in cash and issuing A$100,000 in shares, escrowed for six months, as part of its path to earn an initial 51% interest. The company must complete A$700,000 in total Stage 1 exploration expenditures by January 2027, with A$446,954 already spent, while progressing key permitting and access arrangements including an extended landowner access and compensation agreement and the imminent submission of an E-PEPR application for RC drilling planned for 2026. If Stage 1 conditions are met, Xenora can move to Stage 2 to lift its stake to 90% via further cash, share payments and aggregate exploration spending of A$1.4 million, positioning the company to secure a dominant interest in the project, though failure to advance would leave it with a smaller joint-venture interest or no stake at all.

The most recent analyst rating on (AU:XRA) stock is a Hold with a A$0.21 price target. To see the full list of analyst forecasts on Todd River Resources Ltd. stock, see the AU:XRA Stock Forecast page.

Xenora Minerals Issues 393,701 New Shares Under Corporations Act Notice

Xenora Minerals Limited has issued 393,701 fully paid ordinary shares on 9 January 2026, with the new securities to be quoted on the ASX under the code XRA. The company confirmed the shares were issued without a prospectus under the relevant Corporations Act provisions and stated it is up to date with its financial reporting and continuous disclosure obligations, with no excluded information, paving the way for secondary trading of the new shares and signalling routine capital management activity for stakeholders.

The most recent analyst rating on (AU:XRA) stock is a Hold with a A$0.21 price target. To see the full list of analyst forecasts on Todd River Resources Ltd. stock, see the AU:XRA Stock Forecast page.

Xenora Minerals Seeks ASX Quotation for 393,701 New Shares

Xenora Minerals Ltd, listed on the ASX under the code XRA, operates in the minerals exploration and resources sector, though this filing does not specify its particular commodity focus or project portfolio.

The company has applied for quotation of 393,701 new fully paid ordinary shares on the ASX, issued on 9 January 2026, as part of previously announced transactions, modestly increasing its quoted capital base and potentially supporting ongoing corporate or project-related activities.

The most recent analyst rating on (AU:XRA) stock is a Hold with a A$0.21 price target. To see the full list of analyst forecasts on Todd River Resources Ltd. stock, see the AU:XRA Stock Forecast page.

Xenora Minerals Director Increases Stake Following AGM Approval

Xenora Minerals Limited announced a change in the director’s interest, specifically involving Peretz Schapiro, who has acquired 171,875 fully paid ordinary shares through director participation in a placement. This acquisition followed shareholder approval at the company’s AGM on November 27, 2025, reflecting a strategic move to increase director investment in the company.

Xenora Minerals Issues New Shares in Compliance with Corporations Act

Xenora Minerals Limited, a company listed on the ASX, has issued 2,154,862 fully paid ordinary shares without disclosure to investors under Part 6D.2 of the Corporations Act 2001. This issuance complies with the relevant legal provisions, and there is no excluded information that needs to be disclosed, indicating a transparent and compliant operation.

Xenora Minerals Ltd Announces Quotation of New Securities on ASX

Xenora Minerals Ltd has announced the quotation of 2,154,862 ordinary fully paid securities on the Australian Securities Exchange (ASX) as of December 3, 2025. This move is part of previously announced transactions, potentially enhancing the company’s market presence and providing additional capital for its operations, which may have implications for its growth strategy and stakeholder interests.

Xenora Minerals Issues Unlisted Options to Strengthen Market Position

Xenora Minerals Ltd has announced the issuance of 1,500,000 unlisted options, exercisable at $0.24 and expiring on December 3, 2028. This move is part of a previously announced transaction and involves securities that are not quoted on the ASX, indicating strategic financial maneuvers to potentially enhance its market positioning.

Xenora Minerals Approves Key Resolutions at Annual General Meeting

Xenora Minerals Limited held its Annual General Meeting on November 27, 2025, where shareholders voted on various resolutions. The meeting resulted in the approval of several key resolutions, including the adoption of the remuneration report, re-election of directors, and approval of placement shares and options. These approvals are expected to support the company’s strategic initiatives and enhance its operational capabilities.