Zinc of Ireland NL (ZMI) AI Stock Analysis

• Market Cap: AU$9.89M
• Dividend Yield: N/A
• Average Volume (3M): 692.21K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.88
• 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: 49 Neutral
• Price Target: AU$0.02 ▲(70.00% Upside)
• Action: Reiterated Date: 03/13/26
• Date: Action: Reiterated 03/13/26

The score is held down primarily by very weak financial performance—persistent losses and ongoing cash burn—despite the benefit of a debt-free balance sheet. Technical indicators are supportive with strong recent momentum, but valuation support is limited because earnings are negative and no dividend data is provided.

Positive Factors

Debt-free balance sheet

A debt-free balance sheet materially reduces refinancing and solvency risk, giving management flexibility to fund operations or projects via equity or partnerships rather than interest-bearing debt. Over 2-6 months this supports survival while cash burn is addressed and preserves options for capital allocation.

Meaningful equity buffer

A sizeable equity base relative to assets provides a capital cushion against losses and operational shocks, lowering insolvency probability. This structural strength helps sustain operations during continued negative cash flow periods and supports potential dilution instead of creditor pressure.

Revenue reappeared in 2025

The re-emergence of revenue signals an inflection in commercial traction or project execution, which is a durable positive if sustained. Over the medium term, growing top-line from near-zero provides a pathway to scale and margin improvement if cost structure is managed and revenues continue to build.

Negative Factors

Persistent net losses

Multi-year net losses indicate the core business model is not yet generating sustainable profits. Persistent negative earnings erode equity over time, limit capacity to self-fund growth, and increase the likelihood of future capital raises or restructuring unless margins materially improve.

Negative operating and free cash flow

Consistent cash burn from operations and negative free cash flow create ongoing funding needs. This structural cash deficit forces reliance on external financing or equity issuance, which can dilute shareholders and constrain investment in capacity or development over the medium term.

Very small revenue vs cost base

A small sales base relative to fixed and operating costs makes profits highly sensitive to modest revenue shortfalls and hinders margin recovery. Until revenue scales reliably, leverage to costs keeps return on capital negative and raises execution risk for any growth plans.

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

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Zinc of Ireland NL Financial Statement Overview

Summary

Overall financial quality is weak: profitability is very poor with persistent net losses and deeply negative margins (Income Statement Score 12), and cash sustainability is a key risk with consistently negative operating and free cash flow (Cash Flow Score 28). The main offset is a relatively conservative, debt-free balance sheet with meaningful equity (Balance Sheet Score 64), which reduces near-term solvency and refinancing 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	49 Neutral	AU$9.89M	-1.32	-17.60%	―	―	38.71%
YAR	46 Neutral	AU$7.56M	-0.61	-216.58%	―	―	―
VAR	46 Neutral	AU$8.74M	-4.26	-8.31%	―	―	6.25%
AKN	45 Neutral	AU$20.38M	-0.52	-77.38%	―	―	―
MGU	44 Neutral	AU$16.07M	-1.25	-17.27%	―	―	20.83%
SVY	40 Underperform	AU$10.96M	-1.36	-57.07%	―	―	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.