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Adriatic Metals PLC (ADT) Report Analysis

Corporate Events

Neutral

Adriatic Metals PLC Presents at Shares and AJ B...

2022-06-23 09:49:00

Adriatic Metals PLC Presents at Shares and AJ Bell Investor Evening, Jun-28-2022 04:45 PM. Venue: Novotel Tower Bridge, 10 Pepys Street, Londo...

Neutral

AJ Bell Media Ltd, Shares Magazine, Shares an...

2022-06-23 06:00:00

AJ Bell Media Ltd, Shares Magazine, Shares and AJ Bell Investor Evening, Jun 28, 2022. Venue: Novotel Tower Bridge, 10 Pepys Street, London...

Positive

Adriatic Metals PLC Provides Update on Construc...

2022-05-29 22:22:00

Adriatic Metals PLC provided an update on the construction activities and drilling at its Vares Silver Project in Bosnia & Herzegovina. Constr...

Neutral

Adriatic Metals PLC - Special Call

2022-05-17 22:22:00

To provide an update on construction activities at the Vares Silver Project

Neutral

Adriatic Metals PLC - Shareholder/Analyst Call

2022-05-17 22:22:00

Annual General Meeting

Neutral

Adriatic Metals PLC, Annual General Meeting, Ma...

2022-05-04 01:55:00

Adriatic Metals PLC, Annual General Meeting, May 30, 2022, at 09:00 Coordinated Universal Time. Location: Ground Floor, Regent House, 65 Rodne...

Neutral

Adriatic Metals PLC Presents at Deutsche Goldme...

2022-04-13 14:57:00

Adriatic Metals PLC Presents at Deutsche Goldmesse Spring 2022, May-27-2022 . Venue: Frankfurt, Germany.

Neutral

Soar Financial Partners, Deutsche Goldmesse Spr...

2022-04-13 13:38:00

Soar Financial Partners, Deutsche Goldmesse Spring 2022, May 27, 2022 through May 28, 2022. Venue: Frankfurt, Germany.

Neutral

Adriatic Metals PLC Presents at Mines and Money...

2021-11-24 14:57:00

Adriatic Metals PLC Presents at Mines and Money London 2021, Dec-01-2021 12:45 PM. Venue: The Business Design Centre, 52 Upper St, Islington, ...

Neutral

Adriatic Metals PLC Presents at 121 Mining Inve...

2021-11-09 20:04:00

Adriatic Metals PLC Presents at 121 Mining Investment London, Nov-18-2021 10:30 AM. Venue: South Block, County Hall, London, United Kingdom. S...

Negative

Adriatic Metals PLC has completed a Follow-on E...

2021-11-05 00:00:00

Adriatic Metals PLC has completed a Follow-on Equity Offering in the amount of £0.060755 million. Security Name: Ordinary Shares Security ...

Positive

Adriatic Metals plc Announces Environmental & S...

2021-10-27 22:43:00

Adriatic Metals PLC announced the release of its Environmental & Social Impact Assessment ("ESIA") for its Vares Project ("Vares Silver Projec...

Neutral

Adriatic Metals PLC Presents at Uranium, Strate...

2021-10-15 12:49:00

Adriatic Metals PLC Presents at Uranium, Strategic and Precious Metals Investor Conference 2021, Oct-20-2021 09:30 AM.

Neutral

Adriatic Metals PLC, Special/Extraordinary Shar...

2021-10-12 16:45:00

Adriatic Metals PLC, Special/Extraordinary Shareholders Meeting, Oct 29, 2021, at 07:30 Coordinated Universal Time. Location: Ground Floor, Re...

Negative

Adriatic Metals PLC has filed a Follow-on Equit...

2021-10-12 00:00:00

Adriatic Metals PLC has filed a Follow-on Equity Offering in the amount of £74.88369 million. Security Name: Ordinary Shares Security Type...

Negative

Adriatic Metals PLC has completed a Follow-on E...

2021-09-07 00:00:00

Adriatic Metals PLC has completed a Follow-on Equity Offering in the amount of £0.127888 million. Security Name: Chess Depositary Interests...

Neutral

Adriatic Metals PLC - Special Call

2021-08-20 02:06:00

2021 Definitive Feasibility Study Webinar 2

Neutral

Adriatic Metals PLC - Special Call

2021-08-18 22:09:00

2021 Definitive Feasibility Study Webinar 1

Neutral

Adriatic Metals PLC Presents at AJ Bell Investo...

2021-08-17 07:25:00

Adriatic Metals PLC Presents at AJ Bell Investor Evening Webinar, Aug-17-2021 .

Neutral

Shares Magazine, AJ Bell Media Ltd, AJ Bell Inv...

2021-08-17 06:00:00

Shares Magazine, AJ Bell Media Ltd, AJ Bell Investor Evening Webinar, Aug 17, 2021.

Positive

Adriatic Metals PLC Reports on Recent Explorati...

2021-08-09 22:19:00

Adriatic Metals PLC reported on recent exploration results at the company's Vares Silver Project in Bosnia & Herzegovina. Vares project explor...

Neutral

Adriatic Metals plc Announces Change of Austral...

2021-08-04 06:25:00

Adriatic Metals PLC confirmed that the company's registered Australian address has changed to Level 1, 10 Outram Street, West Perth WA 6005, A...

Positive

Adriatic Metals plc Announces Final Key Permit ...

2021-07-19 08:30:00

Adriatic Metals PLC announced that it has received the Exploitation Permit for the Rupice underground deposit (Rupice Exploitation Permit) fro...

Positive

Adriatic Metals plc Provides Vares Silver Proje...

2021-07-16 06:32:00

Adriatic Metals PLC provided a Vares Silver Project Operations and Corporate Update, which included the Demolition of the Old Processing Plant...

Negative

Adriatic Metals PLC has completed a Follow-on E...

2021-07-09 00:00:00

Adriatic Metals PLC has completed a Follow-on Equity Offering in the amount of £0.095894 million. Security Name: Chess Depositary Interests...

Neutral

Adriatic Metals PLC Presents at Shares and AJ Bell Investor Evening, Jun-28-2022 04:45 PM

2022-06-23 09:49:00

Adriatic Metals PLC Presents at Shares and AJ Bell Investor Evening, Jun-28-2022 04:45 PM. Venue: Novotel Tower Bridge, 10 Pepys Street, London ., United Kingdom. Speakers: Dominic Roberts, Head of Corporate Affairs.

Neutral

AJ Bell Media Ltd, Shares Magazine, Shares and AJ Bell Investor Evening, Jun 28, 2022

2022-06-23 06:00:00

AJ Bell Media Ltd, Shares Magazine, Shares and AJ Bell Investor Evening, Jun 28, 2022. Venue: Novotel Tower Bridge, 10 Pepys Street, London ., United Kingdom.

Positive

Adriatic Metals PLC Provides Update on Construction Activities and Drilling at its Vares Silver Project

2022-05-29 22:22:00

Adriatic Metals PLC provided an update on the construction activities and drilling at its Vares Silver Project in Bosnia & Herzegovina. Construction activities are advancing on time as planned. Activities are split across the following three sites: 1. Rupice Surface Infrastructure Site /Rupice Underground Mine: Ground support installation around the lower portal to the Rupice underground mine has been completed and decline development is expected to commence in the coming weeks. Excavation of the upper portal is ongoing and ground support installation is expected to start in the coming weeks, with decline development ready to start at the end of the quarter. The imminent start of construction of the lower decline will mark the start of the three phases of mining at Rupice. The first phase is the concurrent construction of the two declines from the upper and the lower portal, down to the two parallel production levels of the Rupice orebody. The first phase is expected to be completed during Fourth Quarter 2022. Phase two of mining will start at the beginning of First Quarter 2023, with the construction of the production levels, cross cuts, ore development drives and installation of underground infrastructure ready for production mining. Phase two will be when the majority of the underground equipment mining fleet is mobilised, as there will be the multiple simultaneous headings under development. There will be just two concurrent development headings in phase 1. The final and third phase of mining, will be production mining in ore as well as backfilling. This is expected to commence in Second Quarter 2023. Phase three will also have additional underground mobilised, albeit in smaller incremental increase than that for phase 2. Çiftay naat Taahhüt ve Ticaret A. ("Ciftay"), the Company's appointed underground mining contractor, has started its initial mobilisation of mining equipment and workshop facilities to site. By the end of this quarter, the initial phase of mobilisation will have been completed. This includes the mobilisation of equipment for the first phase of mining, as well as the installation of temporary surface facilities (offices, warehouse and workshops). Over the next 12 months further supplementary equipment will be mobilised, as required for the subsequent second and third phase of mining. The installation of utilities (water, telecommunications, compressed air, ventilation fans and generators) for the underground development has started. The ventilation fans and compressors for compressed air will be delivered within the next 2 weeks, and the installation of the surface water distribution system is also nearing completion. A telecommunications mast providing 4G network coverage across the site has also been installed. 2. Haul Road: The first section of the haul road's construction commenced earlier this month. The 25km haul road construction is phased into 5 lots of approximately 5km each in length. Roadworks have started on Lot 1, with Lot 5 expected to commence in early June. Lot 1 is the first 5km of road from Rupice Surface Infrastructure site towards the Vares Processing Plant site, and Lot 5 is last 5km. Permitting for Lots 2, 3 and 4 is underway and completion of the haul road is expected in First Quarter 2023. The haul road is being constructed by the Vares Municipality, but with funding and technical assistance from the Company. 3. Vares Processing Plant Site The contract for the preparation of the foundations for the Vares Processing Plant has been signed and work is expected to start in the coming weeks. Following the demolition in 2021 of the buildings that were formerly on the site, a number of shallow subterrain cavities and channels remained. Building of the foundations will require these shallow voids to be filled and in addition some of the remaining concrete removed. The new Vares Processing Plant buildings will be constructed on the existing concrete infrastructure from the historical processing facilities, which saves a substantial amount of time, engineering and expense. The contract for the construction of the Vares Processing Plant buildings is expected to be awarded imminently. Drilling performance has improved since the appointment of Drillex, the new drilling contractor, as announced on 28 February 2022. Compared to the prior performance, there has been a marked improvement in productivity. Advancement rates have dramatically increased with 4,450 metres already completed within the past 7.5 weeks. Of the three rigs that Drillex have mobilised to the Vares Project site, two rigs are currently deployed for resource definition drilling within the central part of the Rupice deposit, and one rig is stepping out along the northwest extension of the Rupice deposit.

Neutral

Adriatic Metals PLC - Special Call

2022-05-17 22:22:00

To provide an update on construction activities at the Vares Silver Project

Neutral

Adriatic Metals PLC - Shareholder/Analyst Call

2022-05-17 22:22:00

Annual General Meeting

Neutral

Adriatic Metals PLC, Annual General Meeting, May 30, 2022

2022-05-04 01:55:00

Adriatic Metals PLC, Annual General Meeting, May 30, 2022, at 09:00 Coordinated Universal Time. Location: Ground Floor, Regent House, 65 Rodney Road Cheltenahm United Kingdom Agenda: To receive the Company's Annual Report and Financial Statements (the "Annual Report and Financial Statements") and the Auditor's and Directors' reports thereon for the twelve months ended 31 December 2021; to approve the Annual Report on Remuneration set out on pages 80 to 97 of the Annual Report and Financial Statements for the twelve months ended 31 December 2021;to re-elect Paul Cronin as a Director of the Company, who retires by rotation in accordance with the articles of association of the Company ("Articles") and is eligible for re-appointment; to re-elect Sandra Bates as a Director of the Company, who retires by rotation in accordance with the Articles and is eligible for re-appointment; to re-appoint BDO LLP as Auditor of the Company to hold office from the conclusion of the Meeting to the conclusion of the next meeting at which accounts are laid before the Company and to consider other matters.

Neutral

Adriatic Metals PLC Presents at Deutsche Goldmesse Spring 2022, May-27-2022

2022-04-13 14:57:00

Adriatic Metals PLC Presents at Deutsche Goldmesse Spring 2022, May-27-2022 . Venue: Frankfurt, Germany.

Neutral

Soar Financial Partners, Deutsche Goldmesse Spring 2022, May 27, 2022 through May 28, 2022

2022-04-13 13:38:00

Soar Financial Partners, Deutsche Goldmesse Spring 2022, May 27, 2022 through May 28, 2022. Venue: Frankfurt, Germany.

Neutral

Adriatic Metals PLC Presents at Mines and Money London 2021, Dec-01-2021 12:45 PM

2021-11-24 14:57:00

Adriatic Metals PLC Presents at Mines and Money London 2021, Dec-01-2021 12:45 PM. Venue: The Business Design Centre, 52 Upper St, Islington, London, Uk, United Kingdom. Speakers: Dominic Roberts, Head of Corporate Affairs.

Neutral

Adriatic Metals PLC Presents at 121 Mining Investment London, Nov-18-2021 10:30 AM

2021-11-09 20:04:00

Adriatic Metals PLC Presents at 121 Mining Investment London, Nov-18-2021 10:30 AM. Venue: South Block, County Hall, London, United Kingdom. Speakers: Paul David Cronin, Co-Founder, MD, CEO & Executive Director.

Negative

Adriatic Metals PLC has completed a Follow-on Equity Offering in the amount of £0.060755 million.

2021-11-05 00:00:00

Adriatic Metals PLC has completed a Follow-on Equity Offering in the amount of £0.060755 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 40,039 Price\Range: £1.5174

Positive

Adriatic Metals plc Announces Environmental & Social Impact Assessment for Its Vares Project

2021-10-27 22:43:00

Adriatic Metals PLC announced the release of its Environmental & Social Impact Assessment ("ESIA") for its Vares Project ("Vares Silver Project" or "Project") in Bosnia & Herzegovina. The Company took the decision in 2019 to conduct an ESIA in compliance with the highest recognised international industry standards. The Company appointed Wardell Armstrong International ("WAI") to produce the ESIA to conform with the Performance Requirements ("PR") set out in the European Bank for Reconstruction and Development's ("EBRD") 2019 Environmental and Social Policy, as well as taking into consideration, amongst others, the World Bank's International Finance Corporation ("IFC") Performance Standards and the recently published findings of the Global Tailings Review. The ESIA was undertaken to assess and present the risks and impacts of the Vares Silver Project along with mitigation measures and environmental and social management plans, in accordance with international best practices and standards. Specifically, the ESIA conforms to the requirements of EBRD's 2019 Environmental and Social Policy. The Company also completed a separate local permitting process to ensure the Project conforms with the legislative requirements of Bosnia & Herzegovina, a part of which also includes environmental impact assessments for different project components. The ESIA process commenced with a screening and scoping study, completed by WAI in first quarter 2020. This study allowed for the design and implementation of a baseline collection programme. Impact assessment and mitigation design, together with social, environmental and health management plans, are based on these baseline conditions and take account of the releases and effects associated with the Vares Silver Project. A critical component of the impact assessment process is the consultation with all the various stakeholders affected by the Project to ensure that the ESIA considers, as a priority, any issues identified. These stakeholders are principally those within the local communities, as well as government institutions and non-governmental organisations. An ESIA consultation process was initiated with local communities in November 2019 and has continued throughout the ESIA period. Feedback from these consultations has helped refine the baseline data collection and inform the application of the mitigation hierarchy and management planning detailed in the ESIA. The purpose of the ESIA now disclosed is to document the existing environmental and social conditions, describe the proposed operation, identify its impacts, develop implementation measures to avoid, reduce or minimise the impact of the operation and the actions needed to ensure their performance. This includes the planned activities of construction, operations and decommissioning on the following four main components of the Vares Silver Project.

Neutral

Adriatic Metals PLC Presents at Uranium, Strategic and Precious Metals Investor Conference 2021, Oct-20-2021 09:30 AM

2021-10-15 12:49:00

Adriatic Metals PLC Presents at Uranium, Strategic and Precious Metals Investor Conference 2021, Oct-20-2021 09:30 AM.

Neutral

Adriatic Metals PLC, Special/Extraordinary Shareholders Meeting, Oct 29, 2021

2021-10-12 16:45:00

Adriatic Metals PLC, Special/Extraordinary Shareholders Meeting, Oct 29, 2021, at 07:30 Coordinated Universal Time. Location: Ground Floor, Regent House, 65 Rodney Road Chelteham United Kingdom Agenda: To consider approval for the Proposed Equity Fundraise pursuant to ASX Listing Rule 7.1.

Negative

Adriatic Metals PLC has filed a Follow-on Equity Offering in the amount of £74.88369 million.

2021-10-12 00:00:00

Adriatic Metals PLC has filed a Follow-on Equity Offering in the amount of £74.88369 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 49,350,000 Price\Range: £1.5174

Negative

Adriatic Metals PLC has completed a Follow-on Equity Offering in the amount of £0.127888 million.

2021-09-07 00:00:00

Adriatic Metals PLC has completed a Follow-on Equity Offering in the amount of £0.127888 million. Security Name: Chess Depositary Interests Security Type: Depositary Receipt (Common Stock) Securities Offered: 103,974 Price\Range: £1.23 Transaction Features: Subsequent Direct Listing

Neutral

Adriatic Metals PLC - Special Call

2021-08-20 02:06:00

2021 Definitive Feasibility Study Webinar 2

Neutral

Adriatic Metals PLC - Special Call

2021-08-18 22:09:00

2021 Definitive Feasibility Study Webinar 1

Neutral

Adriatic Metals PLC Presents at AJ Bell Investor Evening Webinar, Aug-17-2021

2021-08-17 07:25:00

Adriatic Metals PLC Presents at AJ Bell Investor Evening Webinar, Aug-17-2021 .

Neutral

Shares Magazine, AJ Bell Media Ltd, AJ Bell Investor Evening Webinar, Aug 17, 2021

2021-08-17 06:00:00

Shares Magazine, AJ Bell Media Ltd, AJ Bell Investor Evening Webinar, Aug 17, 2021.

Positive

Adriatic Metals PLC Reports on Recent Exploration Results at its Vares Silver Project in Bosnia & Herzegovina

2021-08-09 22:19:00

Adriatic Metals PLC reported on recent exploration results at the company's Vares Silver Project in Bosnia & Herzegovina. Vares project exploration highlights: 21.1 metres at 576g/t AgEq or 17.8% ZnEq (296g/t Ag, 5.5% Zn, 3.7% Pb, 1.2g/t Au, 0.2% Cu, 80% BaSO4, 0.1% Sb) from 338.6 metres, including; 6.8 metres at 655g/t AgEq or 20.2% ZnEq (387g/t Ag, 6.2% Zn, 4.2% Pb, 0.8g/t Au, 0.2% Cu, 79% BaSO4, 0.1% Sb) from 339.2 metres. Rupice continues to deliver significant intercepts with a high-grade mineralized intersection from a step-out drill hole 80m northwest of the existing Rupice orebody. The drilling program at Rupice will continue with three diamond core drill rigs focused on testing the extents of the Rupice orebody, both towards the north and as well as potential down dip extensions to the south. Drilling is currently focused in the northern area surrounding the high-grade intersection encountered in drill hole BR-02-21 at Rupice. Due to the size of the step-out, it is yet to be determined whether this reported mineralisation is the extension of the previously defined Rupice orebody or a separate ore zone. The reported interval is a massive sulphide replacement of dolomitic breccia, which is fitting with the primary mineralisation style of the Rupice orebody. As announced on 19 April 2021, exploration drilling recommenced at Rupice in second quarter of 2021 with a budget of £6.8m for this year. Progress on project-wide exploration drilling has been slower than expected, primarily due to the re-deployment of resources for the DFS geotechnical drilling for the proposed surface infrastructure around the Rupice underground portal. However, this work is now nearing completion.

Neutral

Adriatic Metals plc Announces Change of Australian Registered Address

2021-08-04 06:25:00

Adriatic Metals PLC confirmed that the company's registered Australian address has changed to Level 1, 10 Outram Street, West Perth WA 6005, Australia.

Positive

Adriatic Metals plc Announces Final Key Permit for Vares Silver Project

2021-07-19 08:30:00

Adriatic Metals PLC announced that it has received the Exploitation Permit for the Rupice underground deposit (Rupice Exploitation Permit) from the Federal Ministry for Energy, Mining and Industry. The Rupice Exploitation Permit is the final permitting requirement for construction of the Vares Silver Project. The Vares Silver Project required permitting for both the Rupice underground deposit and the Veovaca open pit deposit (which also included permitting for the Vares Processing Plant). The Veovaca Exploitation Permit was received on 28 January 2021 and initiated the formal exploitation period for the Vares Silver Project, which under the terms of the Concession Agreement, lasts for up to 30 years. The Rupice Exploitation Permit was approved following the completion of a public hearing conducted in Vares on 7 July 2021. The Vares Silver Project has gone from discovery to fully permitted for exploitation in just over 4 years. This is testament to the strong community and government support at every step of the permitting process.

Positive

Adriatic Metals plc Provides Vares Silver Project Operations and Corporate Update

2021-07-16 06:32:00

Adriatic Metals PLC provided a Vares Silver Project Operations and Corporate Update, which included the Demolition of the Old Processing Plant Site nears completion. A geotechnical drilling program to test the structural integrity of the original concrete pad has been completed. Exploration drilling has now re-commenced at Rupice.

Negative

Adriatic Metals PLC has completed a Follow-on Equity Offering in the amount of £0.095894 million.

2021-07-09 00:00:00

Adriatic Metals PLC has completed a Follow-on Equity Offering in the amount of £0.095894 million. Security Name: Chess Depositary Interests Security Type: Depositary Receipt (Common Stock) Securities Offered: 77,963 Price\Range: £1.23 Transaction Features: Subsequent Direct Listing

Fundamental Summary

Looking at Adriatic Metals's financials of Q4 reflected unimpressive, mediocre results. We do believe, though, that macro-related market conditions will influence its performance more significantly than its individual results. We therefore gave Adriatic Metals a total score of 71 out of 100 and a HOLD recommendation.

Adriatic Metals announced consolidated earnings results for the six months ended June 30, 2021. For the period, the company announced operating loss was GBP 4,549,308, loss for the period was GBP 3,290,121, and basic and diluted net loss per share of 1.57 pence.

Business Description

Adriatic Metals, through its subsidiaries, engages in the exploration and development of precious and base metals. It explores for zinc, lead, barite, gold, silver, and copper deposits. The company’s flagship project is the Vares Silver Project located in the Bosnia and Herzegovina. It also operates Raska Project in Serbia. The company was incorporated in 2017 and is based in Cheltenham, the United Kingdom.

Sector Overview

Adriatic Metals is included in the Metals & Mining according to GICS (global industry classification standard). The Metals & Mining industry is included in the Materials sector. It includes the producers of aluminum, iron, steel, gold, other diversified metals and minerals, and their related products, as well as the mining and production the above materials. Adriatic Metals's industry and sector affiliation are expected to negatively affect their likelihood to overperform the market in the upcoming period, as other sectors appear more likely to benefit from the macroeconomic environment we see now.

Fundamental Highlights


Parameter Value Change Score
Assets 131.9 503.8% 74
Liabilities 18.3 1835.5% 78
Price to Book 2.6 -58.5% 78
Cash & Equivalents 83.2 736.5% 64
Equity 113.5 443.4% 55
EBITDA -9.4 -40.4% 62
Parameter Value Change Score
Total Revenues 0.0 0.0% 87
Return on Equity -12.8 68.0% 66
Net Cashflow 53.6 1071.9% 68
Capital Expenditure -10.1 -95.4% 76
Free Cashflow -0.1 -69.5% 69

* All values are TTM

The below chart reflects Adriatic Metals's birds-eye view on its performance with respect to its peers, the company's fillings as reported or to a similar industry, market cap, and country of origin. While Adriatic Metals's peer average final assessment score stands on 66.0, Adriatic Metals's score is 71.

  •  ADT
  •  Peers average
Name Market Cap Balance Sheet Income Statement Cash Flow Rating Final Assessment mc_sort Hidden
BHP Group Limited 208.5B 58 71 75
Hold
69
69 0 1
Fortescue Metals Group Limited 55.0B 65 67 75
Hold
68
68 1 1
Newcrest Mining Limited 19.4B 52 66 57
Underperform
56
56 2 1
South32 Limited 18.7B 84 72 78
Buy
82
82 3 1
Mineral Resources Limited 9.2B 55 63 61
Underperform
56
56 4 1
Lynas Rare Earths Limited 8.3B 70 69 70
Hold
71
71 5 1
Northern Star Resources Limited 8.2B 56 56 73
Underperform
55
55 6 1
IGO Limited 7.8B 50 78 72
Hold
71
71 7 1
BlueScope Steel Limited 7.3B 85 72 52
Hold
72
72 8 1
Pilbara Minerals Limited 6.9B 86 69 86
Buy
83
83 9 1
Allkem Limited 6.9B 57 61 82
Hold
65
65 10 1
OZ Minerals Limited 6.2B 74 66 78
Hold
74
74 11 1
Evolution Mining Limited 4.8B 82 64 50
Hold
64
64 12 1
Alumina Limited 4.4B 50 79 72
Hold
70
70 13 1
OZ Minerals Holdings Pty Ltd 4.0B 84 61 50
Hold
73
73 14 1
Iluka Resources Limited 3.9B 77 60 74
Hold
68
68 15 1
Andean Resources Ltd. 3.7B 86 97 41
Buy
84
84 16 1
Coronado Global Resources Inc. 2.9B 83 74 81
Strong Buy
87
87 17 1
Nickel Industries Limited 2.8B 54 60 70
Underperform
56
56 18 1
AVZ Minerals Limited 2.8B 95 68 58
Hold
75
75 19 1
Sims Limited 2.7B 68 69 82
Hold
74
74 20 1
Zimplats Holdings Limited 2.6B 77 68 64
Hold
71
71 21 1
Liontown Resources Limited 2.4B 81 84 62
Buy
84
84 22 1
Perseus Mining Limited 2.3B 81 65 83
Hold
77
77 23 1
Deterra Royalties Limited 2.3B 77 61 75
Hold
69
69 24 1
Sandfire Resources Limited 1.9B 82 69 76
Buy
79
79 25 1
Core Lithium Ltd 1.8B 83 70 69
Hold
76
76 26 1
Chalice Mining Limited 1.5B 54 81 55
Hold
67
67 27 1
Grange Resources Limited 1.5B 65 64 73
Hold
66
66 28 1
Capricorn Metals Ltd 1.3B 86 69 82
Buy
82
82 29 1
West African Resources Limited 1.3B 87 59 66
Hold
68
68 30 1
Silver Lake Resources Limited 1.2B 66 63 58
Hold
62
62 31 1
De Grey Mining Limited 1.2B 66 47 73
Underperform
53
53 32 1
Gold Road Resources Limited 1.2B 64 67 56
Hold
63
63 33 1
Lake Resources NL 1.2B 66 73 68
Hold
71
71 34 1
Sayona Mining Limited 1.2B 66 73 68
Hold
71
71 35 1
Regis Resources Limited 1.1B 53 53 69
Underperform
50
50 36 1
Piedmont Lithium Inc. 1.1B 88 77 60
Buy
84
84 37 1
5E Advanced Materials Inc. 927.2M 47 58 61
Underperform
51
51 38 1
ioneer Ltd 867.9M 85 69 51
Hold
70
70 39 1
Syrah Resources Limited 856.9M 49 50 69
Underperform
46
46 40 1
Equigold NL 854.0M 50 65 87
Hold
67
67 41 1
Ramelius Resources Limited 828.4M 56 68 62
Hold
60
60 42 1
Vulcan Energy Resources Limited 826.7M 67 78 71
Hold
77
77 43 1
Jervois Global Limited 813.1M 78 71 54
Hold
72
72 44 1
Mincor Resources NL 808.9M 62 77 57
Hold
67
67 45 1
Imdex Limited 796.9M 71 56 74
Hold
70
70 46 1
Bellevue Gold Limited 722.0M 84 69 54
Hold
70
70 47 1
St Barbara Limited 701.5M 53 70 56
Underperform
59
59 48 1
Emerald Resources NL 679.4M 60 68 84
Hold
70
70 49 1
Red 5 Limited 671.6M 47 75 59
Hold
61
61 50 1
Boart Longyear Group Ltd. 651.0M 60 74 68
Hold
69
69 51 1
Mount Gibson Iron Limited 629.5M 48 78 64
Hold
66
66 52 1
Westgold Resources Limited 575.3M 54 65 63
Underperform
58
58 53 1
OM Holdings Limited 563.6M 84 75 82
Buy
85
85 54 1
Australian Strategic Materials Ltd 540.9M 51 74 72
Hold
67
67 55 1
Neometals Ltd 531.9M 60 72 60
Hold
65
65 56 1
Argosy Minerals Limited 467.8M 66 73 68
Hold
71
71 57 1
Perenti Global Limited 461.4M 60 78 67
Hold
72
72 58 1
Champion Iron Limited 441.1M 58 71 55
Hold
64
64 59 1
Panoramic Resources Limited 420.4M 58 71 67
Hold
66
66 60 1
Hastings Technology Metals Limited 404.8M 65 68 67
Hold
68
68 61 1
Alkane Resources Limited 402.0M 78 70 68
Hold
73
73 62 1
Centaurus Metals Limited 397.2M 66 73 68
Hold
71
71 63 1
Bowen Coking Coal Limited 385.5M 66 73 68
Hold
71
71 64 1
Jupiter Mines Limited 372.2M 66 81 50
Hold
64
64 65 1
Galan Lithium Limited 362.2M 66 73 68
Hold
71
71 66 1
Talga Group Ltd 359.9M 53 60 62
Underperform
53
53 67 1
BCI Minerals Limited 349.8M 71 68 60
Hold
66
66 68 1
Metals X Limited 344.8M 68 87 68
Buy
82
82 69 1
Pantoro Limited 330.8M 66 73 68
Hold
71
71 70 1
Aurelia Metals Limited 327.8M 65 58 60
Underperform
56
56 71 1
Macmahon Holdings Limited 283.7M 68 65 62
Hold
66
66 72 1
Lotus Resources Limited 277.3M 66 73 68
Hold
71
71 73 1
Firefinch Limited 236.2M 66 73 68
Hold
71
71 74 1
Andromeda Metals Limited 229.8M 66 73 68
Hold
71
71 75 1

Technical Analysis

When trying to optimize the timing of an investment, it's critical to analyze whether the stock looks overbought or oversold, and in which direction the momentum is moving. Adriatic Metals's stock is now priced above its 5-day, but below its 50-day and 200-day moving average, while its MACD (moving average convergence divergence) indicates that the stock's price movement momentum is weakening. Historically, this is a positive setup in the near-term. The company is trading near it's 12-month low, which signals it struggle to keep above it support price. Meanwhile, looking at the Stochastic Oscillator and RSI (relative strength index), Adriatic Metals's stock indicates that it's likely oversold. Overall, these technical indicators signal negative momentum. Therefore, this stock received a cumulative TA (technical analysis) score of 52.

Bearish 52
Close Price 1.98
52W Low 1.89
52W High 3.33
5D MA 1.98
50D MA 2.29
200D MA 2.52
MACD -0.1
RSI 0.4
STOCH 18.27

Balance Sheet Analysis

Two main balance sheet metrics are driving the positive outlook for Adriatic Metals's financial strength going forward. In terms of liabilities, Adriatic Metals published good numbers. Their reported liabilities were 18.3, representing a 1835.5% change from the previous report. These numbers show that management has successfully encouraged growth while managing liabilities, especially relative to their peers. The company's liabilities movement component, therefore, received a grade of 78. Also, Adriatic Metals publishes solid book value factor metrics in this report. Price to book ratio (P/B) now sits at 2.6 and represents a -58.5% change from the previous report. These book value factor numbers show that management has been prudent in focusing on efficient growth. We believe the stock price has room to grow to reflect its intrinsic value accurately. The company's book value factors component, therefore, received a grade of 78. That said, one metric, Equity, stood out as strongly negative. Adriatic Metals reported weak equity changes momentum this period. At filing, equity was reported as 113.5, representing 443.4% change from the previous report. This parameter often affects companies in the same industry and market capitalization by up to 5.9%. Their equity metrics appear unremarkable relative to their peers. Consequently, their equity movement received a grade of 55. Therefore, the company's balance sheet earned a grade of 66.

Parameter Value Change Score
Assets 131.9 503.8% 74
Liabilities 18.3 1835.5% 78
Price to Book 2.6 -58.5% 78
Cash & Equivalents 83.2 736.5% 64
Equity 113.5 443.4% 55
* All values are TTM

The below chart describes Adriatic Metals's performance as reflected on its balance sheet with respect to its peers. While Adriatic Metals received a balance sheet score of 66, the average of its peers stands on 67.0.

  •  ADT
  •  Peers average
Name Market Cap Liabilities Movement Asset Change Equity/Intangibles Adjustments Cash & Equivalents Book Value Momentum Balance Sheet mc_sort Hidden
BHP Group Limited 208.5B 74 92 47 52 76 58 0 1
Fortescue Metals Group Limited 55.0B 83 66 68 55 69 65 1 1
Newcrest Mining Limited 19.4B 85 72 46 46 73 52 2 1
South32 Limited 18.7B 74 73 80 79 74 84 3 1
Mineral Resources Limited 9.2B 83 73 52 42 90 55 4 1
Lynas Rare Earths Limited 8.3B 74 59 77 62 68 70 5 1
Northern Star Resources Limited 8.2B 87 70 56 48 65 56 6 1
IGO Limited 7.8B 43 37 80 42 63 50 7 1
BlueScope Steel Limited 7.3B 64 75 87 90 68 85 8 1
Pilbara Minerals Limited 6.9B 87 59 81 87 56 86 9 1
Allkem Limited 6.9B 53 64 44 65 89 57 10 1
OZ Minerals Limited 6.2B 87 72 72 69 72 74 11 1
Evolution Mining Limited 4.8B 47 57 76 96 54 82 12 1
Alumina Limited 4.4B 51 69 50 46 84 50 13 1
OZ Minerals Holdings Pty Ltd 4.0B 81 62 51 97 87 84 14 1
Iluka Resources Limited 3.9B 76 66 87 69 53 77 15 1
Andean Resources Ltd. 3.7B 70 37 60 97 92 86 16 1
Coronado Global Resources Inc. 2.9B 44 56 87 85 71 83 17 1
Nickel Industries Limited 2.8B 41 44 72 50 70 54 18 1
AVZ Minerals Limited 2.8B 99 56 82 98 66 95 19 1
Sims Limited 2.7B 85 72 83 49 57 68 20 1
Zimplats Holdings Limited 2.6B 80 69 68 76 73 77 21 1
Liontown Resources Limited 2.4B 43 55 82 97 37 81 22 1
Perseus Mining Limited 2.3B 81 70 73 82 66 81 23 1
Deterra Royalties Limited 2.3B 99 79 61 75 68 77 24 1
Sandfire Resources Limited 1.9B 41 64 87 87 73 82 25 1
Core Lithium Ltd 1.8B 37 55 82 94 66 83 26 1
Chalice Mining Limited 1.5B 98 78 39 46 89 54 27 1
Grange Resources Limited 1.5B 54 70 51 71 92 65 28 1
Capricorn Metals Ltd 1.3B 69 59 81 91 65 86 29 1
West African Resources Limited 1.3B 92 56 81 92 42 87 30 1
Silver Lake Resources Limited 1.2B 69 62 62 71 57 66 31 1
De Grey Mining Limited 1.2B 44 49 79 69 48 66 32 1
Gold Road Resources Limited 1.2B 83 72 56 65 60 64 33 1
Lake Resources NL 1.2B 78 74 55 64 78 66 34 1
Sayona Mining Limited 1.2B 78 74 55 64 78 66 35 1
Regis Resources Limited 1.1B 77 74 51 48 63 53 36 1
Piedmont Lithium Inc. 1.1B 97 54 82 97 39 88 37 1
5E Advanced Materials Inc. 927.2M 44 83 54 45 37 47 38 1
ioneer Ltd 867.9M 98 56 80 86 52 85 39 1
Syrah Resources Limited 856.9M 63 75 38 46 94 49 40 1
Equigold NL 854.0M 57 46 86 50 45 50 41 1
Ramelius Resources Limited 828.4M 67 41 78 48 49 56 42 1
Vulcan Energy Resources Limited 826.7M 39 53 80 74 41 67 43 1
Jervois Global Limited 813.1M 71 71 44 94 95 78 44 1
Mincor Resources NL 808.9M 83 78 43 62 56 62 45 1
Imdex Limited 796.9M 59 69 83 61 75 71 46 1
Bellevue Gold Limited 722.0M 96 56 81 87 42 84 47 1
St Barbara Limited 701.5M 80 69 51 49 61 53 48 1
Emerald Resources NL 679.4M 51 58 80 51 57 60 49 1
Red 5 Limited 671.6M 49 45 39 55 96 47 50 1
Boart Longyear Group Ltd. 651.0M 85 79 39 60 87 60 51 1
Mount Gibson Iron Limited 629.5M 94 76 39 41 74 48 52 1
Westgold Resources Limited 575.3M 77 65 55 47 73 54 53 1
OM Holdings Limited 563.6M 84 69 84 81 50 84 54 1
Australian Strategic Materials Ltd 540.9M 44 69 55 46 84 51 55 1
Neometals Ltd 531.9M 97 77 46 50 97 60 56 1
Argosy Minerals Limited 467.8M 78 74 55 64 78 66 57 1
Perenti Global Limited 461.4M 68 71 51 61 74 60 58 1
Champion Iron Limited 441.1M 66 49 73 47 67 58 59 1
Panoramic Resources Limited 420.4M 78 75 43 58 85 58 60 1
Hastings Technology Metals Limited 404.8M 75 72 56 67 67 65 61 1
Alkane Resources Limited 402.0M 45 56 83 88 40 78 62 1
Centaurus Metals Limited 397.2M 78 74 55 64 78 66 63 1
Bowen Coking Coal Limited 385.5M 78 74 55 64 78 66 64 1
Jupiter Mines Limited 372.2M 63 93 46 52 80 66 65 1
Galan Lithium Limited 362.2M 78 74 55 64 78 66 66 1
Talga Group Ltd 359.9M 90 78 38 45 95 53 67 1
BCI Minerals Limited 349.8M 86 73 58 67 82 71 68 1
Metals X Limited 344.8M 90 77 50 67 80 68 69 1
Pantoro Limited 330.8M 78 74 55 64 78 66 70 1
Aurelia Metals Limited 327.8M 85 69 59 60 72 65 71 1
Macmahon Holdings Limited 283.7M 47 61 72 78 44 68 72 1
Lotus Resources Limited 277.3M 78 74 55 64 78 66 73 1
Firefinch Limited 236.2M 78 74 55 64 78 66 74 1
Andromeda Metals Limited 229.8M 78 74 55 64 78 66 75 1

Income Statement Analysis

Two metrics jump up as the most significant positive drivers of the income statement's strength in Adriatic Metals's recent report: Revenue Efficiency and Return Factors. Adriatic Metals's financials reveal an interesting trend for their revenue efficiency. This parameter often affects companies in the same industry and market capitalization by up to 24.0%. Their industry-leading revenue efficiency makes a strong case for upward pressure on its's stock price. Consequently, their revenue efficiency received a grade of 87. Also, Return factors metrics and ratios were exceptional in this report. Adriatic Metals reported a return on equity (ROE) ratio of -12.8, representing a change of 68.0% from the last report. These numbers show that management has successfully encouraged growth while managing ROE and ROA metrics, especially relative to their peers. The company's return factors (ROA & ROE) components, therefore, received a grade of 66. However, one discouraging result, EBITDA, stood out. Adriatic Metals's EBIDTA now sits at -9.4 and represents -40.4% change from the last reporting period. This parameter coud affect companies in the same industry and market capitalization by up to 20.0%. Adriatic Metals appears to be headed in the wrong direction in terms of EBITDA momentum, likely due to insufficient capital controls and a weaker than expected overall financial performance. Therefore, their EBITDA component earned a score of 62. As the companie's management is doing an excellent job managing the critical metrics, the income statement was given a score of 73.

Parameter Value Change Score
EBITDA -9.4 -40.4% 62
Total Revenues 0.0 0.0% 87
Return on Equity -12.8 68.0% 66
* All values are TTM

The below chart describes Adriatic Metals's performance as reflected on its income statement with respect to its peers. While Adriatic Metals received a income statement score of 73 , the average of its peers stands on 65.0.

  •  ADT
  •  Peers average
Name Market Cap Revenue Momentum Earning Movement Return Factors Momentum Income Statement mc_sort Hidden
BHP Group Limited 208.5B 64 79 79 71 0 1
Fortescue Metals Group Limited 55.0B 58 78 75 67 1 1
Newcrest Mining Limited 19.4B 95 45 48 66 2 1
South32 Limited 18.7B 47 94 95 72 3 1
Mineral Resources Limited 9.2B 94 42 44 63 4 1
Lynas Rare Earths Limited 8.3B 50 91 83 69 5 1
Northern Star Resources Limited 8.2B 48 66 68 56 6 1
IGO Limited 7.8B 98 72 48 78 7 1
BlueScope Steel Limited 7.3B 86 71 66 72 8 1
Pilbara Minerals Limited 6.9B 38 96 96 69 9 1
Allkem Limited 6.9B 46 75 74 61 10 1
OZ Minerals Limited 6.2B 48 82 82 66 11 1
Evolution Mining Limited 4.8B 94 46 43 64 12 1
Alumina Limited 4.4B 87 73 76 79 13 1
OZ Minerals Holdings Pty Ltd 4.0B 39 88 45 61 14 1
Iluka Resources Limited 3.9B 50 62 89 60 15 1
Andean Resources Ltd. 3.7B 37 89 91 97 16 1
Coronado Global Resources Inc. 2.9B 39 98 97 74 17 1
Nickel Industries Limited 2.8B 66 61 55 60 18 1
AVZ Minerals Limited 2.8B 87 63 41 68 19 1
Sims Limited 2.7B 45 90 92 69 20 1
Zimplats Holdings Limited 2.6B 94 50 52 68 21 1
Liontown Resources Limited 2.4B 87 78 91 84 22 1
Perseus Mining Limited 2.3B 42 88 83 65 23 1
Deterra Royalties Limited 2.3B 45 83 66 61 24 1
Sandfire Resources Limited 1.9B 64 73 74 69 25 1
Core Lithium Ltd 1.8B 87 47 81 70 26 1
Chalice Mining Limited 1.5B 99 65 76 81 27 1
Grange Resources Limited 1.5B 74 61 61 64 28 1
Capricorn Metals Ltd 1.3B 37 98 97 69 29 1
West African Resources Limited 1.3B 43 84 63 59 30 1
Silver Lake Resources Limited 1.2B 95 42 41 63 31 1
De Grey Mining Limited 1.2B 44 45 76 47 32 1
Gold Road Resources Limited 1.2B 94 48 49 67 33 1
Lake Resources NL 1.2B 87 62 66 73 34 1
Sayona Mining Limited 1.2B 87 62 66 73 35 1
Regis Resources Limited 1.1B 65 50 45 53 36 1
Piedmont Lithium Inc. 1.1B 87 63 68 77 37 1
5E Advanced Materials Inc. 927.2M 74 37 56 58 38 1
ioneer Ltd 867.9M 87 55 60 69 39 1
Syrah Resources Limited 856.9M 38 67 62 50 40 1
Equigold NL 854.0M 79 44 91 65 41 1
Ramelius Resources Limited 828.4M 94 51 48 68 42 1
Vulcan Energy Resources Limited 826.7M 87 67 84 78 43 1
Jervois Global Limited 813.1M 37 94 93 71 44 1
Mincor Resources NL 808.9M 98 57 59 77 45 1
Imdex Limited 796.9M 77 60 56 56 46 1
Bellevue Gold Limited 722.0M 87 44 83 69 47 1
St Barbara Limited 701.5M 93 56 53 70 48 1
Emerald Resources NL 679.4M 37 96 94 68 49 1
Red 5 Limited 671.6M 95 58 66 75 50 1
Boart Longyear Group Ltd. 651.0M 93 58 67 74 51 1
Mount Gibson Iron Limited 629.5M 99 62 66 78 52 1
Westgold Resources Limited 575.3M 84 58 43 65 53 1
OM Holdings Limited 563.6M 50 96 97 75 54 1
Australian Strategic Materials Ltd 540.9M 91 62 66 74 55 1
Neometals Ltd 531.9M 87 66 56 72 56 1
Argosy Minerals Limited 467.8M 87 62 66 73 57 1
Perenti Global Limited 461.4M 73 81 87 78 58 1
Champion Iron Limited 441.1M 95 50 45 71 59 1
Panoramic Resources Limited 420.4M 95 50 62 71 60 1
Hastings Technology Metals Limited 404.8M 90 51 53 68 61 1
Alkane Resources Limited 402.0M 68 74 74 70 62 1
Centaurus Metals Limited 397.2M 87 62 66 73 63 1
Bowen Coking Coal Limited 385.5M 87 62 66 73 64 1
Jupiter Mines Limited 372.2M 96 46 50 81 65 1
Galan Lithium Limited 362.2M 87 62 66 73 66 1
Talga Group Ltd 359.9M 87 40 47 60 67 1
BCI Minerals Limited 349.8M 94 47 56 68 68 1
Metals X Limited 344.8M 94 84 79 87 69 1
Pantoro Limited 330.8M 87 62 66 73 70 1
Aurelia Metals Limited 327.8M 68 58 49 58 71 1
Macmahon Holdings Limited 283.7M 88 51 48 65 72 1
Lotus Resources Limited 277.3M 87 62 66 73 73 1
Firefinch Limited 236.2M 87 62 66 73 74 1
Andromeda Metals Limited 229.8M 87 62 66 73 75 1

Cash Flow Analysis

Overall, Adriatic Metals's critical cash flow metrics appear to signal strong support and a high likelihood of positive growth going forward. Adriatic Metals's management did a great job this period managing its capital expenditure (CapEx). In terms of the raw numbers, CapEx was reported as -10.1, which represents a -95.4% change from the last period. The company appears to be headed in the right direction regarding resource allocation, exhibiting prudent capital expenditure growth compared to its peers. Therefore, its CapEx movement component earned a score of 76. Also, Free cash flow numbers published by Adriatic Metals were -0.1, which was a -69.5% change from the previous filing. Companies in the same industry and market capitalization are typically affected by this parameter by up to 4.3%. The company's free cash flow metrics are especially strong compared to its peers. Management seems to balance cash flow management, asset growth, and resource allocations in general. Consequently, their free cash flow movement received a grade of 69. On the other hand, Net Cash Flow, jumped out as looking rather underwhelming. Adriatic Metals's net cash flow metrics were 53.6 according to their current filing, which represents a 1071.9% change from the previous report. Their net cash flow momentum should be a cause for concern and could bring negative momentum for Adriatic Metals's stock price going forward. Hence, their net cash flow earned a score of 68. Therefore, we scored their cash flow a 68.

Parameter Value Change Score
Net Cashflow 53.6 1071.9% 68
Capital Expenditure -10.1 -95.4% 76
Free Cashflow -0.1 -69.5% 69
* All values are TTM

The below chart describes Adriatic Metals's performance as reflected on its cash flow with respect to its peers. While Adriatic Metals received a cash flow score of 68, the average of its peers stands on 63.0.

  •  ADT
  •  Peers average
Name Market Cap Cashflow Momentum Free Cashflow Growth Capital Expenditure Growth Assets Factors Momentum Cash Flow mc_sort Hidden
BHP Group Limited 208.5B 70 77 80 71 75 0 1
Fortescue Metals Group Limited 55.0B 74 78 69 74 75 1 1
Newcrest Mining Limited 19.4B 58 48 63 55 57 2 1
South32 Limited 18.7B 72 86 82 75 78 3 1
Mineral Resources Limited 9.2B 58 69 54 63 61 4 1
Lynas Rare Earths Limited 8.3B 78 63 76 58 70 5 1
Northern Star Resources Limited 8.2B 70 58 54 91 73 6 1
IGO Limited 7.8B 80 73 66 57 72 7 1
BlueScope Steel Limited 7.3B 48 47 56 70 52 8 1
Pilbara Minerals Limited 6.9B 87 97 76 78 86 9 1
Allkem Limited 6.9B 75 77 70 84 82 10 1
OZ Minerals Limited 6.2B 69 97 66 73 78 11 1
Evolution Mining Limited 4.8B 54 49 61 39 50 12 1
Alumina Limited 4.4B 68 74 76 70 72 13 1
OZ Minerals Holdings Pty Ltd 4.0B 49 86 84 39 50 14 1
Iluka Resources Limited 3.9B 75 84 52 74 74 15 1
Andean Resources Ltd. 3.7B 40 55 56 37 41 16 1
Coronado Global Resources Inc. 2.9B 77 86 53 93 81 17 1
Nickel Industries Limited 2.8B 75 63 76 61 70 18 1
AVZ Minerals Limited 2.8B 60 69 76 37 58 19 1
Sims Limited 2.7B 83 98 56 82 82 20 1
Zimplats Holdings Limited 2.6B 75 77 63 44 64 21 1
Liontown Resources Limited 2.4B 59 69 76 51 62 22 1
Perseus Mining Limited 2.3B 69 94 90 83 83 23 1
Deterra Royalties Limited 2.3B 77 88 96 51 75 24 1
Sandfire Resources Limited 1.9B 73 85 63 71 76 25 1
Core Lithium Ltd 1.8B 61 69 76 72 69 26 1
Chalice Mining Limited 1.5B 53 62 84 38 55 27 1
Grange Resources Limited 1.5B 75 79 76 62 73 28 1
Capricorn Metals Ltd 1.3B 81 83 81 79 82 29 1
West African Resources Limited 1.3B 73 84 42 58 66 30 1
Silver Lake Resources Limited 1.2B 63 53 64 47 58 31 1
De Grey Mining Limited 1.2B 80 69 76 61 73 32 1
Gold Road Resources Limited 1.2B 57 57 54 50 56 33 1
Lake Resources NL 1.2B 68 69 76 60 68 34 1
Sayona Mining Limited 1.2B 68 69 76 60 68 35 1
Regis Resources Limited 1.1B 65 76 68 69 69 36 1
Piedmont Lithium Inc. 1.1B 59 62 69 54 60 37 1
5E Advanced Materials Inc. 927.2M 55 48 71 71 61 38 1
ioneer Ltd 867.9M 47 57 54 51 51 39 1
Syrah Resources Limited 856.9M 59 58 43 98 69 40 1
Equigold NL 854.0M 91 69 72 84 87 41 1
Ramelius Resources Limited 828.4M 59 56 81 58 62 42 1
Vulcan Energy Resources Limited 826.7M 67 69 76 69 71 43 1
Jervois Global Limited 813.1M 43 51 38 82 54 44 1
Mincor Resources NL 808.9M 63 63 72 45 57 45 1
Imdex Limited 796.9M 71 72 79 73 74 46 1
Bellevue Gold Limited 722.0M 51 64 56 51 54 47 1
St Barbara Limited 701.5M 54 46 71 55 56 48 1
Emerald Resources NL 679.4M 84 81 80 81 84 49 1
Red 5 Limited 671.6M 68 49 48 59 59 50 1
Boart Longyear Group Ltd. 651.0M 62 74 81 63 68 51 1
Mount Gibson Iron Limited 629.5M 68 69 59 56 64 52 1
Westgold Resources Limited 575.3M 59 69 71 59 63 53 1
OM Holdings Limited 563.6M 75 90 90 75 82 54 1
Australian Strategic Materials Ltd 540.9M 72 69 76 69 72 55 1
Neometals Ltd 531.9M 62 54 71 52 60 56 1
Argosy Minerals Limited 467.8M 68 69 76 60 68 57 1
Perenti Global Limited 461.4M 61 69 54 78 67 58 1
Champion Iron Limited 441.1M 56 69 51 49 55 59 1
Panoramic Resources Limited 420.4M 69 69 79 54 67 60 1
Hastings Technology Metals Limited 404.8M 65 68 74 57 67 61 1
Alkane Resources Limited 402.0M 69 58 68 71 68 62 1
Centaurus Metals Limited 397.2M 68 69 76 60 68 63 1
Bowen Coking Coal Limited 385.5M 68 69 76 60 68 64 1
Jupiter Mines Limited 372.2M 51 51 84 44 50 65 1
Galan Lithium Limited 362.2M 68 69 76 60 68 66 1
Talga Group Ltd 359.9M 53 48 76 70 62 67 1
BCI Minerals Limited 349.8M 62 54 76 49 60 68 1
Metals X Limited 344.8M 70 81 72 55 68 69 1
Pantoro Limited 330.8M 68 69 76 60 68 70 1
Aurelia Metals Limited 327.8M 72 58 54 49 60 71 1
Macmahon Holdings Limited 283.7M 72 53 46 57 62 72 1
Lotus Resources Limited 277.3M 68 69 76 60 68 73 1
Firefinch Limited 236.2M 68 69 76 60 68 74 1
Andromeda Metals Limited 229.8M 68 69 76 60 68 75 1

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