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Zuleika Gold Limited (AU:ZAG)
ASX:ZAG
Australian Market

Zuleika Gold Limited (ZAG) AI Stock Analysis

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AU:ZAG

Zuleika Gold Limited

(Sydney:ZAG)

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Neutral 54 (OpenAI - 5.2)
Rating:54Neutral
Price Target:
AU$0.05
▼(-4.00% Downside)
The score is held back primarily by weak financial performance (recurring losses and ongoing cash burn), partially offset by a low-debt balance sheet. Technicals are the main positive, showing an uptrend and constructive momentum, while valuation remains constrained due to negative earnings and no dividend.
Positive Factors
Balance Sheet Health
A low-debt balance sheet reduces solvency risk, providing financial stability and flexibility to navigate market fluctuations.
Resource Upgrade
Increasing mineral resources strengthens Zuleika's market position and potential revenue streams, supporting long-term growth.
Employee Incentives
Aligning employee interests with company performance can enhance operational efficiency and retention, benefiting long-term competitiveness.
Negative Factors
Recurring Losses
Consistent losses indicate operational challenges and can erode equity, impacting the company's ability to invest and grow.
Cash Flow Weakness
Negative cash flow suggests reliance on external funding, which can limit financial flexibility and increase risk during downturns.
Revenue Volatility
Volatile revenue streams hinder predictable financial planning and can challenge sustainable growth and profitability.

Zuleika Gold Limited (ZAG) vs. iShares MSCI Australia ETF (EWA)

Zuleika Gold Limited Business Overview & Revenue Model

Company DescriptionZuleika Gold Limited engages in the exploration and development of gold properties in Australia. Its flagship project is the Zuleika gold project that covers an area of approximately 240 square kilometers located to the northwest of Kalgoorlie. The company was formerly known as Dampier Gold Limited and changed its name to Zuleika Gold Limited in February 2021. Zuleika Gold Limited was incorporated in 2010 and is based in West Perth, Australia.
How the Company Makes MoneyZuleika Gold Limited generates revenue primarily through the exploration and development of gold mining projects. The company's revenue model is based on the discovery and subsequent sale or joint venture of gold deposits. Zuleika engages in exploration activities to increase its resource base, which, once proven viable, attracts investment from larger mining companies or financial institutions. These partnerships or joint ventures often involve upfront payments, funding commitments, and royalty agreements, providing Zuleika with financial returns. Additionally, the sale of exploration data, as well as any direct gold sales from operational sites, contribute to its revenue streams. Key factors influencing earnings include the success of exploration efforts, gold market prices, and strategic partnerships with major players in the mining industry.

Zuleika Gold Limited Financial Statement Overview

Summary
Zuleika Gold shows promise with revenue growth and a debt-free balance sheet, offering financial flexibility. However, persistent profitability challenges with negative margins and struggles in generating positive free cash flow due to high capital expenditures indicate the need for better operational efficiency.
Income Statement
Zuleika Gold's revenue growth is notable, increasing from previous periods with TTM revenue at $113,366 from $72,825 annually. However, the company continues to face significant challenges with profitability. The net profit margin is negative, and both EBIT and EBITDA margins are also negative due to high operating losses. This indicates ongoing operational inefficiencies or high-cost structures.
Balance Sheet
The company maintains a strong equity position with no total debt, resulting in a Debt-to-Equity Ratio of zero. Return on Equity (ROE) is negative due to consistent net losses, but the Equity Ratio is robust, indicating a solid equity base. The balance sheet reflects stability in capital structure, but profitability issues persist.
Cash Flow
The cash flow statement shows improvement in operating cash flow, reaching $299,252 TTM, which is a positive sign of operational cash generation. However, the free cash flow remains negative due to high capital expenditures, impacting the free cash flow to net income ratio. The company needs to manage capital investments better to improve free cash flow.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue78.20K78.20K72.83K38.48K8.82K11.63K
Gross Profit78.20K78.20K72.83K18.31K-63.84K-32.53K
EBITDA-945.63K-945.63K205.54K-1.03M-3.30M-6.13M
Net Income-2.81M-2.81M198.18K-1.05M-3.37M-6.18M
Balance Sheet
Total Assets8.75M8.75M11.41M8.44M9.55M9.41M
Cash, Cash Equivalents and Short-Term Investments1.16M1.16M2.69M823.30K3.74M4.89M
Total Debt0.000.000.0014.75K0.000.00
Total Liabilities323.05K323.05K192.38K509.02K627.84K1.51M
Stockholders Equity8.43M8.43M11.22M7.93M8.92M7.90M
Cash Flow
Free Cash Flow-1.09M-1.53M-1.13M-2.90M-4.15M-3.27M
Operating Cash Flow-582.67K-750.06K10.79K-1.04M-1.73M-1.08M
Investing Cash Flow-511.23K-777.94K-1.14M-1.86M-2.41M-2.19M
Financing Cash Flow0.000.003.00M-13.52K2.99M5.98M

Zuleika Gold Limited Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.05
Price Trends
50DMA
0.04
Positive
100DMA
0.03
Positive
200DMA
0.02
Positive
Market Momentum
MACD
<0.01
Positive
RSI
47.98
Neutral
STOCH
-37.78
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:ZAG, the sentiment is Positive. The current price of 0.05 is above the 20-day moving average (MA) of 0.04, above the 50-day MA of 0.04, and above the 200-day MA of 0.02, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 47.98 is Neutral, neither overbought nor oversold. The STOCH value of -37.78 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:ZAG.

Zuleika Gold Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
55
Neutral
AU$162.60M11.298.62%
54
Neutral
AU$39.86M-11.32-28.59%-860.00%
49
Neutral
AU$14.43M-23.00-2.67%-233.33%
45
Neutral
AU$30.00M-2.80-45.51%
45
Neutral
AU$12.32M-11.00-5.25%75.81%
44
Neutral
AU$12.36M-3.33-7.82%-28.57%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:ZAG
Zuleika Gold Limited
0.04
0.03
258.33%
AU:GML
Gateway Mining Limited
0.07
0.05
218.18%
AU:MAN
Mandrake Resources Ltd
0.02
>-0.01
-4.17%
AU:SNG
Siren Gold Ltd
0.10
0.05
81.82%
AU:NWM
Norwest Minerals Ltd.
0.01
>-0.01
-7.69%
AU:NSM
North Stawell Minerals, Ltd.
0.03
0.02
120.00%

Zuleika Gold Limited Corporate Events

Zuleika Gold Issues New Performance Rights to Boost Employee Incentives
Dec 17, 2025

Zuleika Gold Limited has announced the issuance of unquoted equity securities in the form of Class A, B, and C Performance Rights, totaling 9,750,000 securities, as part of an employee incentive scheme. This move is likely aimed at motivating and retaining employees by aligning their interests with the company’s performance, which could enhance operational efficiency and strengthen its position in the competitive mining sector.

Zuleika Gold Limited Issues 80 Million New Securities on ASX
Dec 16, 2025

Zuleika Gold Limited has announced the issuance of 80,000,000 fully paid ordinary securities, which will be quoted on the Australian Securities Exchange (ASX) under the code ZAG. This move is part of the company’s strategy to leverage convertible securities, potentially strengthening its financial position and providing additional capital for its ongoing exploration and development activities. The issuance could impact Zuleika Gold’s operational capabilities and its standing in the competitive mining industry, offering potential benefits for stakeholders through increased resource development and exploration opportunities.

Zuleika Gold Announces Major Resource Upgrade at Credo Well Project
Dec 2, 2025

Zuleika Gold Limited has announced a significant upgrade to the mineral resources at its Credo Well Gold Project, increasing the total mineral resource to 22,500 ounces of gold. The company plans further drilling in 2026, anticipating continued resource growth. With a mining lease application in progress and mining studies set to commence in 2026, Zuleika aims to secure ore treatment arrangements with local processing facilities. This development marks a crucial step in Zuleika’s strategy to enhance its resource potential and strengthen its position in the Kalgoorlie region.

Zuleika Gold Secures $2 Million Through Share Issuance
Nov 18, 2025

Zuleika Gold Limited has announced the issuance of 100,000,000 new fully paid ordinary shares after receiving $2,000,000 from Yandal Investments Pty Ltd through option exercise funds. This move indicates a strategic capital raising effort that could enhance the company’s financial position and support its ongoing operations in the gold exploration sector.

Zuleika Gold Limited Updates Securities Quotation Application
Nov 18, 2025

Zuleika Gold Limited has issued an update to a previous announcement regarding the application for quotation of securities on the ASX. The update corrects the number of securities exercised, which is crucial for maintaining accurate records and ensuring transparency with stakeholders. This correction may impact the company’s market operations by aligning its reported data with actual figures, thereby reinforcing investor confidence.

Zuleika Gold Settles Plutonic Mine Litigation, Secures $48 Million
Nov 17, 2025

Zuleika Gold Limited has reached a settlement in its litigation with Catalyst Metals Limited regarding the Plutonic Gold Mine. The settlement involves Zuleika receiving $48 million in a combination of Catalyst shares and cash payments, while relinquishing its 4.1% interest in the mine. This resolution ends a five-year legal battle, allowing Zuleika to focus on its strategic priorities and enhancing shareholder value.

Zuleika Gold Advances Legal Battle and Exploration Efforts
Oct 31, 2025

Zuleika Gold Limited reported progress in its legal proceedings against Catalyst Metals Limited regarding the Plutonic Gold Mine, with the trial to determine damages now expected in early 2026. Despite the delay, Zuleika remains confident in its legal position and views the postponement as an opportunity to strengthen its case. Additionally, the company is conducting a comprehensive review of its projects to identify new exploration targets and has begun updating the Credo Resource data.

Zuleika Gold Secures $5 Million Funding to Boost Exploration
Oct 30, 2025

Zuleika Gold Limited has secured a $5 million funding arrangement to bolster its exploration initiatives and improve its working capital. Of this amount, $3 million is provided by Auracle Group Pty Ltd, controlled by the company’s Chair, Annie Guo, with $2.3 million under a new facility. The terms of the facility include various triggers for maturity and repayment, with a facility fee of $10,000 payable by the repayment date. This funding is expected to enhance Zuleika’s operational capabilities and financial flexibility, potentially impacting its market positioning positively.

Zuleika Gold Limited Announces Key Resolutions for Upcoming AGM
Oct 27, 2025

Zuleika Gold Limited has announced its upcoming Annual General Meeting scheduled for November 27, 2025, in West Perth, Australia. The meeting will address several key resolutions, including the adoption of the remuneration report, the election and re-election of directors, and the approval of performance rights issuance to certain directors. These resolutions are crucial for the company’s governance and strategic direction, impacting shareholder interests and the company’s future operations.

$5 Million Funding Boosts Zuleika Gold’s Exploration Efforts
Oct 22, 2025

Zuleika Gold Limited has secured $5 million in funding to enhance its exploration programs and strengthen its working capital. This funding, which includes $2 million from the conversion of existing options by its largest shareholder, Yandal Investments, and a $3 million loan from Auracle Group, will enable the company to accelerate exploration and development activities at its Zuleika and Credo Well gold projects. The funding reflects strong support from major stakeholders and positions Zuleika for growth in one of Australia’s most productive gold belts.

Zuleika Gold’s Plutonic Mine Litigation Trial Postponed to 2026
Oct 7, 2025

Zuleika Gold Limited has announced a delay in its ongoing litigation against Catalyst Metals Limited’s subsidiaries regarding a joint venture interest in the Plutonic Gold Mine. The trial, initially scheduled for October 2025, has been postponed to early 2026 to allow both parties to address new issues raised by the defense amendments. Despite the delay, Zuleika remains confident in its legal position and views the postponement as an opportunity to strengthen its case, reassuring stakeholders of their commitment to pursuing fair value.

Zuleika Gold Limited Releases Updated Corporate Governance Statement
Sep 30, 2025

Zuleika Gold Limited has released its corporate governance statement, which is now available on their website. This statement outlines the company’s adherence to the ASX Corporate Governance Council’s principles and recommendations, ensuring transparency and accountability in its operations. The board has approved the statement, reflecting Zuleika Gold’s commitment to maintaining high governance standards, which could positively impact its reputation and stakeholder trust.

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.Date of analysis: Dec 30, 2025