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Zuleika Gold Limited
(Sydney:ZAG)
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Rating:50Neutral
Price Target:
AU$0.04
▼(-12.50% Downside)
Action:Reiterated
Date:07/01/26
The score is held back primarily by weak financial performance—recurring losses, negative operating/free cash flow, and declining equity—despite the benefit of low leverage. Technicals add support with the price above key moving averages, and valuation appears optically low on P/E, but the low-quality earnings/cash generation limit how much that boosts the score.
Positive Factors
Low Leverage
A near-zero debt profile materially lowers solvency and interest-rate risk for an exploration company. This durable financial posture preserves optionality to raise project funding, survive downturns without forced asset sales, and makes the company a simpler partner for JVs or farm-outs.
Negative Factors
Recurring Losses and Equity Decline
Sustained net losses and a marked decline in equity erode shareholder capital and shrink the company's financial buffer. Over months this reduces flexibility to fund exploration internally, increases the likelihood of dilutive capital raises, and weakens bargaining power in JV or farm-out negotiations.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage
A near-zero debt profile materially lowers solvency and interest-rate risk for an exploration company. This durable financial posture preserves optionality to raise project funding, survive downturns without forced asset sales, and makes the company a simpler partner for JVs or farm-outs.
Read all positive factors
Zuleika Gold Limited (ZAG) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$32.44M
Dividend YieldN/A
Average Volume (3M)437.03K
Price to Earnings (P/E)0.7
Beta (1Y)-0.02
Revenue GrowthN/A
EPS GrowthN/A
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.05
Shares Outstanding926,879,940
10 Day Avg. Volume661,423
30 Day Avg. Volume437,031
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.32
Price to Sales (P/S)141.73
P/FCF Ratio-7.25
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
Zuleika Gold Limited Business Overview & Revenue Model
Company Description
Based in West Perth, Australia, Zuleika Gold Limited is an Australian company focused on the exploration and subsequent development of gold resources. Formed in 2010, the firm adopted its current name in February 2021, having previously operated a...
How the Company Makes Money
ZAG’s primary economic activity is mineral exploration rather than operating producing mines. As a result, specific, recurring operating revenue streams from gold production are not publicly verifiable from the information available here; therefor...
Zuleika Gold Limited Financial Statement Overview
Summary
Income Statement
26
Negative
Balance Sheet
64
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 27.52K | 78.20K | 72.83K | 38.48K | 8.82K | 11.63K |
| Gross Profit | 27.52K | 78.20K | 72.83K | 18.31K | -63.84K | -32.53K |
| EBITDA | -3.28M | -945.63K | 205.54K | -1.03M | -3.30M | -6.13M |
| Net Income | 38.79M | -2.81M | 198.18K | -1.05M | -3.37M | -6.18M |
Balance Sheet | ||||||
| Total Assets | 56.16M | 8.75M | 11.41M | 8.44M | 9.55M | 9.41M |
| Cash, Cash Equivalents and Short-Term Investments | 14.63M | 1.16M | 2.69M | 823.30K | 3.74M | 4.89M |
| Total Debt | 0.00 | 0.00 | 0.00 | 14.75K | 0.00 | 0.00 |
| Total Liabilities | 2.06M | 323.05K | 192.38K | 509.02K | 627.84K | 1.51M |
| Stockholders Equity | 54.10M | 8.43M | 11.22M | 7.93M | 8.92M | 7.90M |
Cash Flow | ||||||
| Free Cash Flow | 7.14M | -1.53M | -1.13M | -2.90M | -4.15M | -3.27M |
| Operating Cash Flow | 7.38M | -750.06K | 10.79K | -1.04M | -1.73M | -1.08M |
| Investing Cash Flow | -651.62K | -777.94K | -1.14M | -1.86M | -2.41M | -2.19M |
| Financing Cash Flow | 6.08M | 0.00 | 3.00M | -13.52K | 2.99M | 5.98M |
Zuleika Gold Limited 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% | |
57 Neutral | AU$33.71M | -7.26 | -22.98% | ― | ― | 20.95% | |
50 Neutral | AU$32.44M | 0.69 | 124.08% | ― | ― | ― | |
46 Neutral | AU$26.34M | -6.36 | -96.19% | ― | ― | -83.33% | |
46 Neutral | AU$26.76M | -11.00 | -9.73% | ― | ― | 62.96% | |
45 Neutral | AU$21.24M | -3.32 | -58.76% | ― | ― | 28.68% | |
41 Neutral | AU$23.02M | -33.33 | -293.80% | ― | ― | 87.50% |
* Basic Materials Sector Average
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Zuleika Gold Limited Corporate Events
CZR Move on Zuleika Gold Caps Active Quarter in Kalgoorlie
Jul 31, 2026
Zuleika Gold Limited has agreed to an unanimously recommended off-market takeover by CZR, valuing the company at about $44.8 million and offering a material premium to its prior trading levels. The merger will combine complementary assets and bala...
Zuleika Gold Confirms Lapse of 250,000 Performance Rights
Jul 14, 2026
Zuleika Gold Limited has announced the cessation of a tranche of performance rights from its issued capital. The mining-focused company, listed on the ASX under code ZAG, uses such rights as part of its incentive structure for personnel tied to pr...
CZR Resources to Acquire Zuleika Gold via Recommended Off‑Market Takeover
Jun 25, 2026
CZR Resources Limited and Zuleika Gold Limited have agreed to merge through a recommended off‑market takeover bid, formalised in a bid implementation deed and supported by joint disclosure materials. The transaction will be detailed further ...
CZR Resources to Acquire Zuleika Gold in Premium All-Scrip Merger
Jun 25, 2026
CZR Resources has agreed to acquire Zuleika Gold via an all-scrip, off-market takeover, offering 0.1742 CZR shares for each Zuleika share, valuing Zuleika at about $44.8 million. The implied offer price of $0.0427 per Zuleika share represents a su...
Zuleika Gold Issues 250,000 Unquoted Performance Rights Under Incentive Scheme
May 26, 2026
Zuleika Gold Limited has notified the market of the issue of 250,000 unquoted performance rights under its employee incentive scheme, effective 26 May 2026. The new performance rights, which will not be quoted on the ASX, form part of the company&...
Zuleika Gold Names New Company Secretary to Strengthen ASX Compliance
May 8, 2026
Zuleika Gold Limited has appointed Chartered Accountant Natalie Madden as Company Secretary, effective immediately, following the resignation of former Company Secretary Alex Neuling. Madden brings more than 20 years of corporate and financial exp...
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.