Zinc of Ireland NL (ZMI) AI Stock Analysis

• Market Cap: AU$8.15M
• Dividend Yield: N/A
• Average Volume (3M): 692.21K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.31
• Revenue Growth: N/A
• EPS Growth: 38.71%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 582,010,700
• 10 Day Avg. Volume: 285,156
• 30 Day Avg. Volume: 692,211
• PEG Ratio: 0.05
• Price to Book (P/B): 0.46
• Price to Sales (P/S): 4759.31
• P/FCF Ratio: -3.29
• 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: 50 Neutral
• Price Target: AU$0.01 ▲(40.00% Upside)
• Action: Reiterated Date: 03/04/26
• Date: Action: Reiterated 03/04/26

The score is held back primarily by weak financial performance (persistent losses and ongoing cash burn), despite the benefit of a debt-free balance sheet. Technical indicators provide a moderate positive offset, while valuation is constrained by a negative P/E and no dividend yield data.

Positive Factors

Debt-free balance sheet

A lack of reported debt materially reduces near-term refinancing and interest-rate risk, giving management more flexibility to prioritise operations, exploration, or measured investment over the next 2-6 months. This structural liquidity buffer supports survival while revenue rebuilds.

Positive equity buffer

Having positive and sizeable equity versus assets provides a capital buffer that cushions losses and supports balance-sheet stability. That persistent equity position increases the firm's capacity to raise additional capital under less strained conditions.

Revenue reappeared

The reappearance of revenue in 2025 signals resumed commercial activity and potential product or project momentum. If sustained, this revenue trend creates a foundation for scaling operations and margin recovery over several quarters as fixed costs are leveraged.

Negative Factors

Negative cash flow

Consistently negative operating and free cash flows mean the core business consumes cash rather than funds itself. This structural cash burn creates ongoing funding requirements, raises dilution or refinancing risk, and limits the firm's ability to reinvest for growth.

Persistent losses

Multi-year operating losses and a material net loss in the latest fiscal year show the company has yet to reach profitable scale. Deep negative margins reflect structural cost or pricing issues that must be addressed to achieve durable earnings improvement.

Very small revenue base

Revenue remains tiny relative to the firm's cost base, leaving margins highly sensitive to revenue volatility. This structural imbalance raises the probability that additional capital will be required before the business can self-sustain or meaningfully deleverage.

Zinc of Ireland NL Business Overview & Revenue Model

Company Description

Zinc of Ireland NL operates as a mineral exploration and development company in Ireland. The company explores for zinc, lead, and silver deposits. Its flagship project is the Kildare project covering an area of approximately 240 square kilometers located southwest of Dublin. The company was formerly known as Global Metals Exploration NL and changed its name to Zinc of Ireland NL in July 2016. Zinc of Ireland NL was incorporated in 2007 and is based in Subiaco, Australia.

How the Company Makes Money

Zinc of Ireland NL primarily generates revenue through the exploration and development of zinc mining projects. The company aims to increase its value by proving up mineral resources and reserves, which can then be developed for future mining operations. Revenue is expected to be generated from the sale of zinc concentrates, once the projects are brought into production. The company may also enter into joint ventures or partnerships with other mining companies to share exploration and development costs, thereby securing additional funding and expertise. As a junior mining company, ZMI's current focus is on advancing its projects to a stage where they can attract investment or acquisition by larger mining entities.

Zinc of Ireland NL Financial Statement Overview

Summary

Overall fundamentals are weak: the company remains loss-making with deeply negative margins and consistently negative operating and free cash flow, implying continued funding needs. The key offset is a debt-free balance sheet with positive equity, which reduces near-term financial risk.

Income Statement

Profitability remains very weak: the company posted sizable operating losses and a net loss in 2025, and has been loss-making for multiple years. While 2025 shows a sharp rebound in revenue off a near-zero base, the revenue level is still very small versus the cost structure, resulting in deeply negative margins. Strength: revenue did reappear in the latest year; weakness: losses are persistent and overwhelm the limited sales base.

Balance Sheet

The balance sheet is relatively conservative with no debt reported across the period, which limits financial risk and reduces refinancing pressure. Equity is positive and sizeable relative to assets, supporting balance-sheet stability. However, returns to shareholders are consistently negative due to ongoing net losses, and equity has fluctuated over time rather than compounding steadily.

Cash Flow

Cash generation is pressured: operating cash flow is negative across all shown years, indicating the core business is consuming cash rather than funding itself. Free cash flow is also consistently negative (including a larger outflow in 2025 versus 2024), pointing to continued funding needs. A partial offset is that cash burn has not been deteriorating every year and has improved versus the extreme outflow seen in 2020, but overall cash sustainability remains a key weakness.

Breakdown	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	974.00	0.00	0.00	0.00	0.00
Gross Profit	974.00	-785.00	-1.18K	-1.77K	-1.96K
EBITDA	-1.61M	-1.57M	-529.11K	-552.34K	-642.07K
Net Income	-1.81M	-1.67M	-530.28K	-554.11K	-644.03K
Balance Sheet
Total Assets	10.64M	8.92M	10.51M	10.60M	7.36M
Cash, Cash Equivalents and Short-Term Investments	1.25M	331.91K	1.60M	2.46M	467.27K
Total Debt	0.00	0.00	0.00	0.00	0.00
Total Liabilities	634.51K	345.51K	210.48K	250.45K	274.27K
Stockholders Equity	10.01M	8.57M	10.30M	10.35M	7.09M
Cash Flow
Free Cash Flow	-1.41M	-1.27M	-1.26M	-1.07M	-674.98K
Operating Cash Flow	-399.11K	-387.42K	-443.02K	-491.24K	-460.69K
Investing Cash Flow	-1.06M	-881.11K	-817.74K	-582.65K	-169.29K
Financing Cash Flow	2.38M	0.00	397.03K	3.10M	120.00K

Zinc of Ireland NL 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%
ZMI	50 Neutral	AU$8.15M	-2.56	-19.60%	―	―	38.71%
YAR	46 Neutral	AU$7.56M	-0.61	-159.50%	―	―	―
VAR	46 Neutral	AU$9.98M	-4.26	-9.11%	―	―	6.25%
AKN	45 Neutral	AU$12.27M	-0.52	-71.65%	―	―	―
MGU	44 Neutral	AU$16.07M	-1.25	-15.96%	―	―	20.83%
SVY	40 Underperform	AU$9.59M	-1.26	-56.10%	―	―	44.90%

Zinc of Ireland NL Corporate Events

Zinc of Ireland Focuses on Geophysical Modelling and Portfolio Review in December Quarter

Zinc of Ireland NL’s December 2025 quarter was dominated by technical interpretation and planning rather than field activity, with the company advancing geophysical modelling at its flagship Rathdowney Zinc-Lead Project in Ireland and maintaining a stable portfolio of 23 prospecting licences across the Rathdowney Trend. In Western Australia, the company completed two deep diamond drill holes at the Mt Clere base metals project intersecting broad sulphide haloes, is reviewing follow-up options including further geophysical work and third-party data review, kept its Murchison Gold Project licence application pending over a strategically located shear-hosted gold target, and received a CAD$73,000 refund from surrendered Manitoba ground while continuing to assess additional complementary assets, signalling a disciplined, early-stage exploration and portfolio-reshaping phase for stakeholders.

The most recent analyst rating on (AU:ZMI) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Zinc of Ireland NL stock, see the AU:ZMI Stock Forecast page.