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Mineral Resources Limited (MIN) Report Analysis

Corporate Events

Neutral

Macquarie Group Limited, Critical Minerals Foru...

2022-06-17 09:35:00

Macquarie Group Limited, Critical Minerals Forum, Jun 27, 2022 through Jun 28, 2022. Venue: Macquarie Perth Office, Perth, Australia.

Neutral

Mineral Resources Limited Presents at Critical ...

2022-06-17 09:35:00

Mineral Resources Limited Presents at Critical Minerals Forum, Jun-27-2022 . Venue: Macquarie Perth Office, Perth, Australia.

Positive

Mineral Resources Limited(ASX:MIN) added to S&P...

2022-06-17 00:00:00

Mineral Resources Limited(ASX:MIN) added to S&P/ASX 50 Index

Neutral

Mineral Resources Announces Change of Company A...

2022-06-10 06:12:00

Mineral Resources Limited advised that its Registered Office and Postal Address changed on 10 June 2022 to 20 Walters Drive, Osborne Park WA 6017.

Neutral

Marquee Resources Limited Enters into Binding T...

2022-06-01 23:50:00

Marquee Resources Limited announced that it has entered into a binding term sheet with Mineral Resources Limited to explore for and develop li...

Negative

Mineral Resources Limited Announces Executive A...

2022-05-19 15:10:00

Following the AGM, the Board of Mineral Resources Limited confirmed the appointment of Morien's executive officers, namely: Chief Executive Of...

Negative

Mineral Resources Limited Appoints Zimi Meka as...

2022-05-17 05:11:00

Mineral Resources Limited announced the appointment of Zimi Meka to the Board of MinRes as an Independent Non-Executive Director with effect f...

Negative

Mineral Resources Limited Announces Board Changes

2022-05-12 15:03:00

Mineral Resources Limited appointed Meri Verli to board of directors effective May 16, 2022. Meri will also stand for election as a director a...

Positive

Mineral Resources Limited has completed a Fixed...

2022-04-28 00:00:00

Mineral Resources Limited has completed a Fixed-Income Offering in the amount of $625 million. Security Name: 8% Senior Unsecured Notes due...

Positive

Mineral Resources Limited Announces Pricing for...

2022-04-27 23:43:00

Mineral Resources Limited announced the upsizing and pricing on 28 April 2022 of its (i) USD 625 million 8.000% Senior Unsecured Notes due 202...

Positive

Mineral Resources Limited Proposes Offering Up ...

2022-04-26 00:56:00

Mineral Resources Limited announced that it intends to offer, subject to market and other conditions, up to an aggregate principal amount of U...

Positive

Mineral Resources Limited has announced a Fixed...

2022-04-26 00:00:00

Mineral Resources Limited has announced a Fixed-Income Offering. Security Name: Senior Unsecured Notes due 2027 Security Type: Corporate B...

Positive

Mineral Resources Limited Provides Lithium Busi...

2022-04-05 02:39:00

Mineral Resources Limited announced that, in response to unprecedented global customer demand for lithium products, the Company has agreed wit...

Neutral

Mineral Resources Limited Signs Non-Binding Let...

2022-02-08 21:22:00

Mineral Resources Limited announced that it has signed a non-binding letter agreement with Albemarle Corporation to explore a potential expans...

Neutral

Mineral Resources Limited, H1 2022 Earnings Cal...

2022-02-06 21:20:00

Mineral Resources Limited, H1 2022 Earnings Call, Feb 09, 2022

Positive

Mineral Resources Limited Announces New Capacit...

2022-02-01 07:06:00

Mineral Resources announced to increase iron ore export capacity at the Port of Port Hedland and to provide a new capacity allocation at Stanl...

Negative

Mineral Resources Limited Announces Management ...

2022-01-31 05:55:00

Mineral Resources Limited announced the appointment of Kevin Gallagher to the Board of MRL as an Independent Non-Executive Director with effec...

Positive

Pantoro Limited Announces Lithium Development P...

2021-12-13 22:47:00

Pantoro Limited announced that in conjunction with its 50% Norseman Gold Project joint venture partner, Tulla Resources Limited has been agree...

Neutral

Mineral Resources Announces Port and Rail Agree...

2021-11-29 03:47:00

Mineral Resources announced that it has entered into an agreement with Hancock Prospecting Pty Limited and Roy Hill Holdings Pty Limited in wh...

Neutral

Mineral Resources Limited to Report First Half,...

2021-10-26 00:04:00

Mineral Resources Limited announced that they will report first half, 2022 results on Feb 09, 2022

Positive

Mineral Resources Limited to Report Q3, 2022 Op...

2021-10-26 00:04:00

Mineral Resources Limited announced that they will report Q3, 2022 operating results on Apr 26, 2022

Neutral

Mineral Resources Limited - Shareholder/Analyst Call

2021-10-14 21:15:00

Annual General Meeting

Positive

Mineral Resources Limited Provides Update on th...

2021-09-07 23:36:00

Mineral Resources Limited provided update on the drilling operations at the highly anticipated Lockyer Deep-1 conventional gas exploration wel...

Positive

Mineral Resources Limited (ASX:MIN) completed t...

2021-09-03 00:00:00

Mineral Resources Limited (ASX:MIN) agreed to acquire 40% stake in Red Hill Iron Ore Joint Venture from Red Hill Iron Limited (ASX:RHI) for AU...

Neutral

Mineral Resources Limited, 2021 Earnings Call, ...

2021-08-11 16:53:00

Mineral Resources Limited, 2021 Earnings Call, Aug 11, 2021

Positive

Mineral Resources Limited, 1.75 (AUD), Cash Div...

2021-08-11 00:00:00

Mineral Resources Limited, 1.75 (AUD), Cash Dividend, Aug-17-2021

Positive

Mineral Resources Limited Declares Fully Franke...

2021-08-10 22:37:00

Mineral Resources Limited's Board of Directors has declared a fully franked final dividend for 2021 of 175 cents per share. The dividend is du...

Positive

Mineral Resources Limited (ASX:MIN) agreed to a...

2021-07-30 00:00:00

Mineral Resources Limited (ASX:MIN) agreed to acquire 40% stake in Red Hill Iron Ore Joint Venture from Red Hill Iron Limited (ASX:RHI) for AU...

Positive

Mineral Resources Secures Rig to Drill Conventi...

2021-07-05 23:27:00

Mineral Resources Limited announced that its wholly owned subsidiary Energy Resources Limited (ERL) has secured a drilling rig for the convent...

Neutral

Macquarie Group Limited, Critical Minerals Forum, Jun 27, 2022 through Jun 28, 2022

2022-06-17 09:35:00

Macquarie Group Limited, Critical Minerals Forum, Jun 27, 2022 through Jun 28, 2022. Venue: Macquarie Perth Office, Perth, Australia.

Neutral

Mineral Resources Limited Presents at Critical Minerals Forum, Jun-27-2022

2022-06-17 09:35:00

Mineral Resources Limited Presents at Critical Minerals Forum, Jun-27-2022 . Venue: Macquarie Perth Office, Perth, Australia.

Positive

Mineral Resources Limited(ASX:MIN) added to S&P/ASX 50 Index

2022-06-17 00:00:00

Mineral Resources Limited(ASX:MIN) added to S&P/ASX 50 Index

Neutral

Mineral Resources Announces Change of Company Address and Registered Office

2022-06-10 06:12:00

Mineral Resources Limited advised that its Registered Office and Postal Address changed on 10 June 2022 to 20 Walters Drive, Osborne Park WA 6017.

Neutral

Marquee Resources Limited Enters into Binding Term Sheet with Mineral Resources Limited

2022-06-01 23:50:00

Marquee Resources Limited announced that it has entered into a binding term sheet with Mineral Resources Limited to explore for and develop lithium deposits in a joint venture across the West Spargoville Project in Western Australia, comprising E 15/1743 and E 15/1781. Mineral Resources is a recognised leader in the construction and operation of hard rock lithium mines in Western Australia and brings tremendous technical, operational and financial capacity to the West Spargoville Lithium Project. MQR and MinRes have entered into a legally binding term sheet for a Farm-in and Joint Venture agreement at the West Spargoville Project in Western Australia. The Agreement is conditional on MinRes completing due diligence on the Project within 4 weeks. MinRes has the right to acquire an initial 25% legal and beneficial interest in the lithium rights (Initial Farm- in Interest) by funding all exploration and development activities and completing a feasibility study for the Project, including a JORC compliant resource (Initial Farm-in Obligation) within 24 months (Initial Farm-in Period). In performing the Initial Farm-in Obligation, MinRes will fund: at least $1,000,000 of exploration and development activities on the Tenements by 31 December 2022; and the $500,000 cost to exercise the Fyfehill Option. Marquee will be responsible for managing the implementation of the exploration and development activities on the Tenements during the Initial Farm-in Period. If MinRes elects to proceed with the Processing Farm-in, it has the right to acquire an additional 45% legal and beneficial interest in the lithium rights by funding the Project until the point of a final investment decision on a mine development for the Project (FID). MinRes will provide complete mine to port services to the JV including: mining; design, construction and operation of a processing plant; on-site power generation; haulage of product to nominated port facilities; marketing of product and shipment of product to purchasers. If MinRes elects to proceed with the Processing Farm-in, it has the right to acquire an additional 26% legal and beneficial interest in the lithium rights by funding the Project until the development, construction and commissioning of a mine and related facilities. MinRes will build, own and operate all plant, equipment and infrastructure for the mining operations and buy lithium bearing ore from the JV for a mine gate sale price to be established on commercially competitive and industry standard terms.

Negative

Mineral Resources Limited Announces Executive Appointments

2022-05-19 15:10:00

Following the AGM, the Board of Mineral Resources Limited confirmed the appointment of Morien's executive officers, namely: Chief Executive Officer - Dawson Brisco.

Negative

Mineral Resources Limited Appoints Zimi Meka as Non-Executive Director

2022-05-17 05:11:00

Mineral Resources Limited announced the appointment of Zimi Meka to the Board of MinRes as an Independent Non-Executive Director with effect from 17 May 2022. Mr. Meka is the Chief Executive Officer and a founding director of consulting and engineering firm, Ausenco Pty Ltd. He has over 35 years' experience in the design, construction and operation of minerals processing plants and infrastructure, both in Australia and internationally. He has grown Ausenco from its inception in Australia into a well-respected global business with over 3,000 people across 26 offices in 14 countries servicing the minerals & metals, oil & gas and industrial sectors.

Negative

Mineral Resources Limited Announces Board Changes

2022-05-12 15:03:00

Mineral Resources Limited appointed Meri Verli to board of directors effective May 16, 2022. Meri will also stand for election as a director at the upcoming annual and special meeting of shareholders to be held on June 16, 2022. Meri is an experienced senior finance executive with an extensive background in financial management and reporting, financial and operational recovery, mergers and acquisitions, risk management and strategy development. Meri has held several senior management roles in the gold mining sector, including most recently as senior vice president for business operation management systems and previously as senior vice president finance and treasury at Kirkland Lake Gold, chief financial officer of McEwen Mining Inc. and vice president, finance at Lake Shore Gold from 2007 to 2016. Meri will assume the position of chair of Karora's audit committee. Wendy Kei, current director and audit committee chair, is retiring from the board effective May 16, 2022.

Positive

Mineral Resources Limited has completed a Fixed-Income Offering in the amount of $625 million.

2022-04-28 00:00:00

Mineral Resources Limited has completed a Fixed-Income Offering in the amount of $625 million. Security Name: 8% Senior Unsecured Notes due November 1, 2027 Security Type: Corporate Bond/Note (Non Convertible) Principal Amount: $625 million Price\Range: 100% Security Features: Attached Guarantees/Guaranteed; Callable; Senior; Unsecured Coupon Type: Fixed Transaction Features: Regulation S; Rule 144A

Positive

Mineral Resources Limited Announces Pricing for USD 1.25 Billion Senior Unsecured Notes Offering

2022-04-27 23:43:00

Mineral Resources Limited announced the upsizing and pricing on 28 April 2022 of its (i) USD 625 million 8.000% Senior Unsecured Notes due 2027 (the "2027 Notes") and (ii) USD 625 million 8.500% Senior Unsecured Notes due 2030 (the "2030 Notes" and, together with the 2027 Notes, the "Notes") in an offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the United States Securities Act of 1933, as amended (the "Securities Act"), and to certain persons outside the United States in offshore transactions in reliance on Regulation S under the Securities Act. The settlement of the offering of the Notes is expected to occur in New York on 2 May 2022, subject to customary closing conditions. MinRes intends to use the cash proceeds from the offering for general corporate purposes, including for capital expenditures. The 2027 Notes will pay interest on 1 May and 1 November each year, commencing on 1 November 2022, at a rate of 8.000% per annum. The 2030 Notes will pay interest on 1 May and 1 November each year, commencing on 1 November 2022, at a rate of 8.500% per annum. The Notes will be guaranteed by certain wholly-owned subsidiaries of MinRes.

Positive

Mineral Resources Limited Proposes Offering Up to USD 1 Billion Senior Unsecured Notes

2022-04-26 00:56:00

Mineral Resources Limited announced that it intends to offer, subject to market and other conditions, up to an aggregate principal amount of US$1 billion of Senior Unsecured Notes due 2027 and Senior Unsecured Notes due 2030.The Notes will only be offered to persons reasonably believed to be qualified institutional buyers, pursuant to Rule 144A under the United States Securities Act of 1933, as amended (the "Securities Act"), and to certain persons outside the United States in offshore transactions in reliance on Regulation S under the Securities Act.

Positive

Mineral Resources Limited has announced a Fixed-Income Offering.

2022-04-26 00:00:00

Mineral Resources Limited has announced a Fixed-Income Offering. Security Name: Senior Unsecured Notes due 2027 Security Type: Corporate Bond/Note (Non Convertible) Security Features: Attached Guarantees/Guaranteed; Senior; Unsecured Transaction Features: Regulation S; Rule 144A

Positive

Mineral Resources Limited Provides Lithium Business Update

2022-04-05 02:39:00

Mineral Resources Limited announced that, in response to unprecedented global customer demand for lithium products, the Company has agreed with its Joint Venture Partners to increase production from the Wodgina and Mt Marion spodumene mines, based in Western Australia. Wodgina Update: Given the strength of market conditions, MinRes and Albemarle Corporation have agreed to accelerate the resumption of production from Train 2 at Wodgina. First spodumene concentrate from this train is expected in July 2022. MinRes is well-progressed with its preparations to recommence operations at Train 1, as previously announced1, with first spodumene concentrate from this train now expected in May 2022 (previously estimated at third quarter of 2022). Each train has a nameplate capacity of 250,000 dry metric tonnes of 6% product. MinRes continues to work with Albemarle to finalise binding agreements to execute the expansion of the MARBL Lithium Joint Venture on terms consistent with the Company's announcement on 9 February 20222. Once concluded, the revised terms will see MinRes responsible for operating Wodgina and Albemarle responsible for operating downstream conversion assets. MinRes will move to a 50% ownership stake in Wodgina. All spodumene produced at Wodgina will ultimately be processed through conversion facilities either built or acquired by a new 50/50 joint venture between MinRes and Albemarle. MinRes will be responsible for contributing its share of the capital costs of this conversion capacity. Any spodumene produced in excess of joint venture conversion capacity will be either toll-converted or sold into the open market. MinRes and Albemarle have also agreed to review the state of global lithium market towards the end of this calendar year to assess timing for the start-up of Train 3 and the possible construction of Train 4. Mt Marion Update: Following the completion of project studies previously foreshadowed along with positive metallurgical test work results, MinRes and its 50/50 Joint Venture partner Jiangxi Ganfeng Lithium Co. Ltd. (Ganfeng) have agreed to upgrade the Mt Marion processing facilities. This is expected to result in Mt Marion's spodumene concentrate production capacity increasing immediately from 450,000 tonnes per annum to 600,000 tonnes per annum of mixed grade product by April 2022. A second stage of expansion incorporating a Dense Media Separation (DMS) plant upgrade, a new crushing circuit and an upgrade to the mine camp should increase installed plant capacity to a run rate of 900,000 tonnes per annum mixed grade by the end of calendar 2022. The equivalent number of tonnes at a grade of 6% is projected to be approximately 600,000 tonnes per annum. Capital expenditure for both stages is expected to be less than $120 million. In addition to the increased production from its Wodgina and Mt Marion operations, MinRes also announced that spodumene concentrate feed has been introduced into Train 1 of the Kemerton Lithium Hydroxide plant, owned 40/60 with Albemarle. First product from this train is expected by May 2022. Train 2 is targeted for mechanical completion in quarter 4 of 2022, with product expected in that quarter.

Neutral

Mineral Resources Limited Signs Non-Binding Letter Agreement with Albemarle Corporation to Explore Potential Expansion of the MARBL Lithium Joint Venture

2022-02-08 21:22:00

Mineral Resources Limited announced that it has signed a non-binding letter agreement with Albemarle Corporation to explore a potential expansion of the MARBL Lithium Joint Venture (MARBL). The non-binding agreement envisions the following key principles and transactions: Ownership of the Wodgina mine would change from 60/40 (ALB/MRL) to 50/50. MRL would resume management of the Wodgina mine. Ownership of Kemerton I/II would remain 60/40 (ALB/MRL). Kemerton would be fed by the Greenbushes mine. In addition, a new 50/50 Joint Venture to own additional lithium conversion assets outside of Australia to be jointly funded by MRL and Albemarle. Albemarle would be the operator of these assets. Albemarle would remain the exclusive marketer of lithium products produced by both Joint Ventures. The principles and transactions contemplated by the Agreement, including asset valuations and operating horizons, are subject to due diligence and the parties entering into binding agreements to affect the proposed transactions, which is expected within the next three months.

Neutral

Mineral Resources Limited, H1 2022 Earnings Call, Feb 09, 2022

2022-02-06 21:20:00

Mineral Resources Limited, H1 2022 Earnings Call, Feb 09, 2022

Positive

Mineral Resources Limited Announces New Capacity Allocation Under Port of Port Hedland Development Plan

2022-02-01 07:06:00

Mineral Resources announced to increase iron ore export capacity at the Port of Port Hedland and to provide a new capacity allocation at Stanley Point berth 3, which subject to all necessary approvals being obtained, would be allocated to the recently announced joint venture between Hancock Prospecting Pty Ltd. (Hancock) and MRL. Approvals are expected to be finalised by mid-2022. On 29 November 2021, MRL and Hancock announced an agreement to jointly investigate the development of a new iron ore export facility at SP3, in the South West Creek, where Roy Hill would provide services to both MRL and Hancock for development and operation of the project, including rail haulage and port services. The Project remains subject to the following matters, which are being progressed: further approvals and agreements to develop and operate SP3 and the other associated supporting port infrastructure; and MRL and Hancock each electing to take a positive final investment decision to proceed with the Project following the completion of an expedited feasibility study. If the Project proceeds and SP3 is developed, MRL is aiming to ship at least 20 million tonnes of iron ore per annum.

Negative

Mineral Resources Limited Announces Management Appointments

2022-01-31 05:55:00

Mineral Resources Limited announced the appointment of Kevin Gallagher to the Board of MRL as an Independent Non-Executive Director with effect from 1 March 2022. Mr. Gallagher has significant executive management experience across a range of businesses and is currently the Managing Director and Chief Executive Officer of Santos Limited. Previously, he was CEO of Clough Limited. Earlier in his career, he worked at Woodside Petroleum Limited including as CEO of the North West Shelf Venture. He has a strong record of leading and growing businesses, including overseeing the recent merger between Oil Search and Santos. The Board has resolved to establish a Sustainability Committee (Committee) to support and advise the Board in relation to the Company's sustainability strategy. The Committee will be chaired by Ms Susie Corlett and include Committee members, Ms Xi Xi and Mr. James McClements.

Positive

Pantoro Limited Announces Lithium Development Partnership with Mineral Resources

2021-12-13 22:47:00

Pantoro Limited announced that in conjunction with its 50% Norseman Gold Project joint venture partner, Tulla Resources Limited has been agreed with Mineral Resources Limited to explore for and develop lithium deposits in a joint venture across the Norseman Gold Project tenure. Mineral Resources to complete a feasibility study including definition of a JORC compliant resource within months to earn 25% of the lithium rights within the Norseman Gold Project tenure. Mineral Resources to earn a further 40% of the lithium rights (for a total 65% ownership) by funding the project until first production. Pantoro and Tulla (jointly or independently) have the right to buy back in to increase their ownership in the joint venture to a combined 49.9%.

Neutral

Mineral Resources Announces Port and Rail Agreement with Hancock Prospecting Pty Limited and Roy Hill Holdings Pty Ltd

2021-11-29 03:47:00

Mineral Resources announced that it has entered into an agreement with Hancock Prospecting Pty Limited and Roy Hill Holdings Pty Limited in which MRL and Hancock will jointly investigate the development of a new iron ore export facility at the Port of Port Hedland's Stanley Point Berth 3 in South West Creek, where Roy Hill would provide services to both MRL and Hancock for development and operation of the project, including rail haulage and port services The Project aligns with MRL's strategy to unlock stranded deposits in the Pilbara by developing pit-to-port solutions and expanding its capability to be a long-term, low-cost sustainable supplier of iron ore to international markets. The development of the Project will be subject to: (a) a grant by the Pilbara Ports Authority (PPA) of a capacity allocation for the Project, and all necessary approvals and agreements to develop and operate berth 3 in South West Creek and the other associated supporting port infrastructure; and b) MRL and Hancock each electing to take a positive final investment decision to proceed with the Project following the completion of a satisfactory expedited feasibility study to usual market standards. Pursuant to the Agreement, MRL and Hancock will form a joint venture to seek to obtain necessary approvals and agreements with the PPA and, if obtained, to develop and operate the iron ore export facility at Port Hedland's Stanley Point Berth 3. If developed, the Project would provide MRL with a port and rail haulage solution to deliver ore mined from MRL's deposits to Port Hedland. Haulage solutions are key to unlocking stranded assets in the Pilbara and this Agreement will provide a cost-effective solution for MRL to develop its Pilbara assets.

Neutral

Mineral Resources Limited to Report First Half, 2022 Results on Feb 09, 2022

2021-10-26 00:04:00

Mineral Resources Limited announced that they will report first half, 2022 results on Feb 09, 2022

Positive

Mineral Resources Limited to Report Q3, 2022 Operating Results on Apr 26, 2022

2021-10-26 00:04:00

Mineral Resources Limited announced that they will report Q3, 2022 operating results on Apr 26, 2022

Neutral

Mineral Resources Limited - Shareholder/Analyst Call

2021-10-14 21:15:00

Annual General Meeting

Positive

Mineral Resources Limited Provides Update on the Drilling Operations At the Highly Anticipated Lockyer Deep-1 Conventional Gas Exploration Well

2021-09-07 23:36:00

Mineral Resources Limited provided update on the drilling operations at the highly anticipated Lockyer Deep-1 conventional gas exploration well. Lockyer Deep- 1 exploration well is located on Exploration Permit EP368, in the highly prospective northern section of the Perth Basin, Western Australia that is host to several significant recent conventional gas discoveries. Energy Resources Limited (ERL), a wholly owned subsidiary of MRL, is operator of the EP368 Joint Venture between ERL (80%) and Norwest Energy NL. Drilling results identify a significant gas discovery at Lockyer Deep-1 Excellent reservoir quality encountered in the Kingia Sandstone Significant gas elevations observed throughout the IRCM and Kingia Sandstone Additional gas potential identified in the High Cliff Sandstone Several gas peaks encountered within the Dongara-Wagina Formation Potential conventional oil resource identified in the Dongara Sandstone Drilling reached Total Depth of 4,274 metres on 6 September 2021. The Company is pleased to advise that initial interpretation of logging while drilling and mud log data has identified a significant gas bearing reservoir in the primary objective Kingia Sandstone. The top of the Kingia Sandstone was intersected at 4041 metres and was marked by a significant drilling break and elevated gas readings. High gas readings were encountered across a gross sand interval of 26 metres to 4067 metres, with good, inferred porosities throughout with a high net/gross ratio. Elevated gas readings continued in sandstones to the top of the Bit Basher Shale at 4109 metres. Elevated gas readings were also observed from within the High Cliff Sandstone from 4172 metres to 4214 metres with some fair inferred porosities. Based on the available data no gas water contact is evident, supporting the case for very significant resource potential across the greater Lockyer Deep/North Erregulla Deep structure. Additional hydrocarbon potential has been identified within the Dongara-Wagina sands, which also had a notable drilling break, with fair oil fluorescence and elevated gas readings. The Dongara Sandstone and Wagina Formation secondary objectives were encountered at 3,117 metres and 3,165 metres, respectively. Oil fluorescence was observed over a 158 metre (gross) section from the top Dongara Sandstone and into the Wagina Formation. Fair to good oil shows were observed within the upper 68 metres of this interval (of which approximately 48 metres is interpreted as the Dongara Sandstone). Wellbore conditioning activities are continuing, after which wireline logs will be run. Positive wireline results will result in the well being cased for production testing. Following the completion of the wireline evaluation and production testing activities, ERL will complete an assessment of the recoverable volumes at the Lockyer Deep-1 exploration well. ERL is the largest petroleum acreage holder in the Perth Basin with operating permits covering more than 7,300km2. ERL also holds the largest petroleum acreage in the onshore Northern Carnarvon Basin, with the combination of the Perth and Northern Carnarvon Basins providing a total acreage position of 13,629km 2 in Western Australia.

Positive

Mineral Resources Limited (ASX:MIN) completed the acquisition of 40% stake in Red Hill Iron Ore Joint Venture from Red Hill Iron Limited (ASX:RHI).

2021-09-03 00:00:00

Mineral Resources Limited (ASX:MIN) agreed to acquire 40% stake in Red Hill Iron Ore Joint Venture from Red Hill Iron Limited (ASX:RHI) for AUD 400 million on July 30, 2021. The consideration includes AUD 200 million which will be paid out of existing cash resources, on completion of the acquisition of the RHIOJV interest and a further AUD 200 million cash when the first commercial shipment of iron ore extracted from the RHIOJV tenements departs port and also a royalty of 0.75% of FOB revenue on all iron ore that is extracted and sold from the RHIOJV tenements. The transaction is conditional on obtaining shareholder approval of Red Hill Iron Limited. The transaction is expected to complete around early September 2021. Jay Leary of Herbert Smith Freehills acted as legal advisor to Red Hill Iron Limited. Mineral Resources Limited (ASX:MIN) completed the acquisition of 40% stake in Red Hill Iron Ore Joint Venture from Red Hill Iron Limited (ASX:RHI) on September 3, 2021. MinRes has transferred $200 million to RHI being the first instalment of the sale price. As on September 2, 2021 Red Hill Iron Limited shareholders approved the deal.

Neutral

Mineral Resources Limited, 2021 Earnings Call, Aug 11, 2021

2021-08-11 16:53:00

Mineral Resources Limited, 2021 Earnings Call, Aug 11, 2021

Positive

Mineral Resources Limited, 1.75 (AUD), Cash Dividend, Aug-17-2021

2021-08-11 00:00:00

Mineral Resources Limited, 1.75 (AUD), Cash Dividend, Aug-17-2021

Positive

Mineral Resources Limited Declares Fully Franked Final Dividend for 2021, Payable on 7 September 2021

2021-08-10 22:37:00

Mineral Resources Limited's Board of Directors has declared a fully franked final dividend for 2021 of 175 cents per share. The dividend is due to be paid on 7 September 2021 to shareholders on the register at 18 August 2021.

Positive

Mineral Resources Limited (ASX:MIN) agreed to acquire 40% stake in Red Hill Iron Ore Joint Venture from Red Hill Iron Limited (ASX:RHI) for AUD 400 million.

2021-07-30 00:00:00

Mineral Resources Limited (ASX:MIN) agreed to acquire 40% stake in Red Hill Iron Ore Joint Venture from Red Hill Iron Limited (ASX:RHI) for AUD 400 million on July 30, 2021. The consideration includes AUD 200 million which will be paid out of existing cash resources, on completion of the acquisition of the RHIOJV interest and a further AUD 200 million cash when the first commercial shipment of iron ore extracted from the RHIOJV tenements departs port and also a royalty of 0.75% of FOB revenue on all iron ore that is extracted and sold from the RHIOJV tenements. The transaction is conditional on obtaining shareholder approval of Red Hill Iron Limited. The transaction is expected to complete around early September 2021. Jay Leary of Herbert Smith Freehills acted as legal advisor to Red Hill Iron Limited.

Positive

Mineral Resources Secures Rig to Drill Conventional Gas Well Lockyer Deep 1

2021-07-05 23:27:00

Mineral Resources Limited announced that its wholly owned subsidiary Energy Resources Limited (ERL) has secured a drilling rig for the conventionalgas exploration well Lockyer Deep 1, situated in the onshore Perth Basin, Western Australia. The Lockyer Deep Prospect is located on exploration permit EP368, in the highly prospective northern section of the Perth Basin that is host to several significant recent conventional gas discoveries. ERL is operator of the EP368 Joint Venture between ERL (80%) and Norwest Energy NL. The Ensign 970 rig contracted to drill Lockyer Deep 1 has just completed three wells in the north Perth Basin and is being mobilized to the Lockyer Deep 1 location to commence drilling later this month. ERL is the largest petroleum acreage holder in the Perth Basin, operating permits covering more than 7,300km2. ERL also holds the largest petroleum acreage in the onshore Northern Carnarvon Basin, with the combination of the Perth and Northern Carnarvon Basins providing a total acreage position in Western Australia of 13,629km2. The Lockyer Deep 1 well aligns with MRL's strategy to secure its own natural gas supply to provide energy security for the Company's current and future mining operations at lower cost and with lower emissions. MRL has committed to achieving Net Zero Emissions by 2050 and is developing a decarbonisation roadmap to enable this target to be achieved as early as possible. A critical aspect of this journey is to reduce the Company's reliance on diesel fuel and utilizing its own natural gas supply as part of the energy transition.

Fundamental Summary

The financials published by Mineral for Q4 were weak and discouraging. Their growth, value, and income factors indicate a poor execution and strategy, which isn't generating exciting growth. These troubling results make a strong case for underperformance and for anticipating a significant downside. Therefore, Mineral earned a score of 56 and a UNDERPERFORM recommendation.

Mineral reported earnings results for the half year ended December 31, 2021. For the half year, the company reported sales was AUD 1,353.5 million compared to AUD 1,530.5 million a year ago. Net income was AUD 19.2 million compared to AUD 519 million a year ago. Basic earnings per share from continuing operations was AUD 0.1017 compared to AUD 2.7527 a year ago. Diluted earnings per share from continuing operations was AUD 0.1017 compared to AUD 2.7527 a year ago.

Business Description

Mineral, together with subsidiaries, operates as a mining services and processing company in Australia, China, and Singapore. It operates through three segments: Mining Services, Commodities, and Central. The company offers contract crushing, screening, processing, and specialist mining services; mine services, including materials handling, plant and equipment hire, plant and equipment maintenance, tails recovery, and aggregate crushing; and design, engineering, and construction services in the resources sector. It also manages the processing, production, logistics, ship loading, marketing, and export of resource commodities on behalf of tenement owners; and provides specialist parts to the mining, quarrying, and recycling industries. In addition, the company has a portfolio of iron ore assets; and owns interests in the Mount Marion and Wodgina lithium projects located in Western Australia. The company was founded in 1993 and is based in Osborne Park, Australia.

Sector Overview

Mineral 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. Mineral'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 5,559.5 -5.0% 73
Liabilities 2,629.6 0.9% 83
Price to Book 3.9 23.1% 90
Cash & Equivalents 750.5 -51.3% 42
Equity 2,886.9 -9.9% 52
EBITDA 1,272.5 -32.2% 42
Total Revenues 3,556.6 -4.7% 94
Parameter Value Change Score
Return on Equity 27.4 -40.1% 44
Net Cashflow -362.9 -1887.7% 58
Capital Expenditure -985.8 -34.7% 54
Asset Turnover 0.7 -3.0% 63
Free Cashflow -0.0 -101.2% 69

* All values are TTM

The below chart reflects Mineral'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 Mineral's peer average final assessment score stands on 69.0, Mineral's score is 56.

  •  MIN
  •  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
Lynas Rare Earths Limited 8.3B 70 69 70
Hold
71
71 4 1
Northern Star Resources Limited 8.2B 56 56 73
Underperform
55
55 5 1
IGO Limited 7.8B 50 78 72
Hold
71
71 6 1
BlueScope Steel Limited 7.3B 85 72 52
Hold
72
72 7 1
Pilbara Minerals Limited 6.9B 86 69 86
Buy
83
83 8 1
Allkem Limited 6.9B 57 61 82
Hold
65
65 9 1
OZ Minerals Limited 6.2B 74 66 78
Hold
74
74 10 1
Evolution Mining Limited 4.8B 82 64 50
Hold
64
64 11 1
Alumina Limited 4.4B 50 79 72
Hold
70
70 12 1
OZ Minerals Holdings Pty Ltd 4.0B 84 61 50
Hold
73
73 13 1
Iluka Resources Limited 3.9B 77 60 74
Hold
68
68 14 1
Andean Resources Ltd. 3.7B 86 97 41
Buy
84
84 15 1
Coronado Global Resources Inc. 2.9B 83 74 81
Strong Buy
87
87 16 1
Nickel Industries Limited 2.8B 54 60 70
Underperform
56
56 17 1
AVZ Minerals Limited 2.8B 95 68 58
Hold
75
75 18 1
Sims Limited 2.7B 68 69 82
Hold
74
74 19 1
Zimplats Holdings Limited 2.6B 77 68 64
Hold
71
71 20 1
Liontown Resources Limited 2.4B 81 84 62
Buy
84
84 21 1
Perseus Mining Limited 2.3B 81 65 83
Hold
77
77 22 1
Deterra Royalties Limited 2.3B 77 61 75
Hold
69
69 23 1
Sandfire Resources Limited 1.9B 82 69 76
Buy
79
79 24 1
Core Lithium Ltd 1.8B 83 70 69
Hold
76
76 25 1
Chalice Mining Limited 1.5B 54 81 55
Hold
67
67 26 1
Grange Resources Limited 1.5B 65 64 73
Hold
66
66 27 1
Capricorn Metals Ltd 1.3B 86 69 82
Buy
82
82 28 1
West African Resources Limited 1.3B 87 59 66
Hold
68
68 29 1
Silver Lake Resources Limited 1.2B 66 63 58
Hold
62
62 30 1
De Grey Mining Limited 1.2B 66 47 73
Underperform
53
53 31 1
Gold Road Resources Limited 1.2B 64 67 56
Hold
63
63 32 1
Lake Resources NL 1.2B 66 73 68
Hold
71
71 33 1
Sayona Mining Limited 1.2B 66 73 68
Hold
71
71 34 1
Regis Resources Limited 1.1B 53 53 69
Underperform
50
50 35 1
Piedmont Lithium Inc. 1.1B 88 77 60
Buy
84
84 36 1
5E Advanced Materials Inc. 927.2M 47 58 61
Underperform
51
51 37 1
ioneer Ltd 867.9M 85 69 51
Hold
70
70 38 1
Syrah Resources Limited 856.9M 49 50 69
Underperform
46
46 39 1
Equigold NL 854.0M 50 65 87
Hold
67
67 40 1
Ramelius Resources Limited 828.4M 56 68 62
Hold
60
60 41 1
Vulcan Energy Resources Limited 826.7M 67 78 71
Hold
77
77 42 1
Jervois Global Limited 813.1M 78 71 54
Hold
72
72 43 1
Mincor Resources NL 808.9M 62 77 57
Hold
67
67 44 1
Imdex Limited 796.9M 71 56 74
Hold
70
70 45 1
Bellevue Gold Limited 722.0M 84 69 54
Hold
70
70 46 1
St Barbara Limited 701.5M 53 70 56
Underperform
59
59 47 1
Emerald Resources NL 679.4M 60 68 84
Hold
70
70 48 1
Red 5 Limited 671.6M 47 75 59
Hold
61
61 49 1
Boart Longyear Group Ltd. 651.0M 60 74 68
Hold
69
69 50 1
Mount Gibson Iron Limited 629.5M 48 78 64
Hold
66
66 51 1
Westgold Resources Limited 575.3M 54 65 63
Underperform
58
58 52 1
OM Holdings Limited 563.6M 84 75 82
Buy
85
85 53 1
Australian Strategic Materials Ltd 540.9M 51 74 72
Hold
67
67 54 1
Neometals Ltd 531.9M 60 72 60
Hold
65
65 55 1
Adriatic Metals PLC 528.8M 66 73 68
Hold
71
71 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. Mineral'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. Meanwhile, looking at the Stochastic Oscillator and RSI (relative strength index), Mineral'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 57.

Bearish 57
Close Price 49.42
52W Low 37.05
52W High 65.97
5D MA 48.46
50D MA 56.59
200D MA 50.9
MACD -2.67
RSI 13.1
STOCH 16.63

Balance Sheet Analysis

A few metrics from Mineral's current balance sheet were especially concerning: Cash & Equivalents and Equity. Mineral's management did a relatively poor job managing cash and cash equivalents, which now sit at 750.5 and represents a -51.3% change from the last reporting period. Their anemic growth in cash and cash equivalents, specifically in contrast to their industry peers' performance, should hurt their stock price. Discouraging results like these statistically lead to negative pressure in stock prices, so we rated their cash and cash equivalents with a score of 42. Also, Mineral management produced disappointing equity metrics this period, which stood at 2886.9, representing a -9.9% change. This parameter often affects companies in the same industry and market capitalization by up to 5.9%. This performance is significantly less impressive than its peers and competitors. Therefore, their equity movement component earned a score of 52. That said, one metric, Book Value Factors, stood out as strongly positive. Mineral publishes solid book value factor metrics in this report. Price to book ratio (P/B) now sits at 3.9 and represents a 23.1% 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 90. Therefore, it received a cautionary score of 55.

Parameter Value Change Score
Assets 5,559.5 -5.0% 73
Liabilities 2,629.6 0.9% 83
Price to Book 3.9 23.1% 90
Cash & Equivalents 750.5 -51.3% 42
Equity 2,886.9 -9.9% 52
* All values are TTM

The below chart describes Mineral's performance as reflected on its balance sheet with respect to its peers. While Mineral received a balance sheet score of 55, the average of its peers stands on 71.0.

  •  MIN
  •  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
Lynas Rare Earths Limited 8.3B 74 59 77 62 68 70 4 1
Northern Star Resources Limited 8.2B 87 70 56 48 65 56 5 1
IGO Limited 7.8B 43 37 80 42 63 50 6 1
BlueScope Steel Limited 7.3B 64 75 87 90 68 85 7 1
Pilbara Minerals Limited 6.9B 87 59 81 87 56 86 8 1
Allkem Limited 6.9B 53 64 44 65 89 57 9 1
OZ Minerals Limited 6.2B 87 72 72 69 72 74 10 1
Evolution Mining Limited 4.8B 47 57 76 96 54 82 11 1
Alumina Limited 4.4B 51 69 50 46 84 50 12 1
OZ Minerals Holdings Pty Ltd 4.0B 81 62 51 97 87 84 13 1
Iluka Resources Limited 3.9B 76 66 87 69 53 77 14 1
Andean Resources Ltd. 3.7B 70 37 60 97 92 86 15 1
Coronado Global Resources Inc. 2.9B 44 56 87 85 71 83 16 1
Nickel Industries Limited 2.8B 41 44 72 50 70 54 17 1
AVZ Minerals Limited 2.8B 99 56 82 98 66 95 18 1
Sims Limited 2.7B 85 72 83 49 57 68 19 1
Zimplats Holdings Limited 2.6B 80 69 68 76 73 77 20 1
Liontown Resources Limited 2.4B 43 55 82 97 37 81 21 1
Perseus Mining Limited 2.3B 81 70 73 82 66 81 22 1
Deterra Royalties Limited 2.3B 99 79 61 75 68 77 23 1
Sandfire Resources Limited 1.9B 41 64 87 87 73 82 24 1
Core Lithium Ltd 1.8B 37 55 82 94 66 83 25 1
Chalice Mining Limited 1.5B 98 78 39 46 89 54 26 1
Grange Resources Limited 1.5B 54 70 51 71 92 65 27 1
Capricorn Metals Ltd 1.3B 69 59 81 91 65 86 28 1
West African Resources Limited 1.3B 92 56 81 92 42 87 29 1
Silver Lake Resources Limited 1.2B 69 62 62 71 57 66 30 1
De Grey Mining Limited 1.2B 44 49 79 69 48 66 31 1
Gold Road Resources Limited 1.2B 83 72 56 65 60 64 32 1
Lake Resources NL 1.2B 78 74 55 64 78 66 33 1
Sayona Mining Limited 1.2B 78 74 55 64 78 66 34 1
Regis Resources Limited 1.1B 77 74 51 48 63 53 35 1
Piedmont Lithium Inc. 1.1B 97 54 82 97 39 88 36 1
5E Advanced Materials Inc. 927.2M 44 83 54 45 37 47 37 1
ioneer Ltd 867.9M 98 56 80 86 52 85 38 1
Syrah Resources Limited 856.9M 63 75 38 46 94 49 39 1
Equigold NL 854.0M 57 46 86 50 45 50 40 1
Ramelius Resources Limited 828.4M 67 41 78 48 49 56 41 1
Vulcan Energy Resources Limited 826.7M 39 53 80 74 41 67 42 1
Jervois Global Limited 813.1M 71 71 44 94 95 78 43 1
Mincor Resources NL 808.9M 83 78 43 62 56 62 44 1
Imdex Limited 796.9M 59 69 83 61 75 71 45 1
Bellevue Gold Limited 722.0M 96 56 81 87 42 84 46 1
St Barbara Limited 701.5M 80 69 51 49 61 53 47 1
Emerald Resources NL 679.4M 51 58 80 51 57 60 48 1
Red 5 Limited 671.6M 49 45 39 55 96 47 49 1
Boart Longyear Group Ltd. 651.0M 85 79 39 60 87 60 50 1
Mount Gibson Iron Limited 629.5M 94 76 39 41 74 48 51 1
Westgold Resources Limited 575.3M 77 65 55 47 73 54 52 1
OM Holdings Limited 563.6M 84 69 84 81 50 84 53 1
Australian Strategic Materials Ltd 540.9M 44 69 55 46 84 51 54 1
Neometals Ltd 531.9M 97 77 46 50 97 60 55 1
Adriatic Metals PLC 528.8M 78 74 55 64 78 66 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 Mineral's recent report: Revenue Efficiency and Return Factors. Mineral reported highly encouraging numbers for its 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. As a result, its revenue efficiency earned a score of 94. Also, In this filing, Mineral reported a return on equity (ROE) ratio of 27.4, which represents a change of -40.1%. These numbers show that management has successfully encouraged growth while managing ROE and ROA metrics, especially relative to their peers. Consequently, their return factors received a grade of 44. However, one discouraging result, EBITDA, stood out. Mineral's management didn't make significant improvements to their EBITDA this period. In terms of the raw numbers, EBITDA was reported as 1272.5, which represents a -32.2% change from the last period. This metric might have a 20.0 percent impact on companies in the same industry and with the same market capitalization. Their EBITDA metrics are even more problematic when compared to their peers. Discouraging results like these statistically lead to negative pressure in stock prices, so we rated their EBITDA a grade of 42. As the companie's management is doing an excellent job managing the critical metrics, the income statement was given a score of 63.

Parameter Value Change Score
EBITDA 1,272.5 -32.2% 42
Total Revenues 3,556.6 -4.7% 94
Return on Equity 27.4 -40.1% 44
* All values are TTM

The below chart describes Mineral's performance as reflected on its income statement with respect to its peers. While Mineral received a income statement score of 63 , the average of its peers stands on 68.0.

  •  MIN
  •  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
Lynas Rare Earths Limited 8.3B 50 91 83 69 4 1
Northern Star Resources Limited 8.2B 48 66 68 56 5 1
IGO Limited 7.8B 98 72 48 78 6 1
BlueScope Steel Limited 7.3B 86 71 66 72 7 1
Pilbara Minerals Limited 6.9B 38 96 96 69 8 1
Allkem Limited 6.9B 46 75 74 61 9 1
OZ Minerals Limited 6.2B 48 82 82 66 10 1
Evolution Mining Limited 4.8B 94 46 43 64 11 1
Alumina Limited 4.4B 87 73 76 79 12 1
OZ Minerals Holdings Pty Ltd 4.0B 39 88 45 61 13 1
Iluka Resources Limited 3.9B 50 62 89 60 14 1
Andean Resources Ltd. 3.7B 37 89 91 97 15 1
Coronado Global Resources Inc. 2.9B 39 98 97 74 16 1
Nickel Industries Limited 2.8B 66 61 55 60 17 1
AVZ Minerals Limited 2.8B 87 63 41 68 18 1
Sims Limited 2.7B 45 90 92 69 19 1
Zimplats Holdings Limited 2.6B 94 50 52 68 20 1
Liontown Resources Limited 2.4B 87 78 91 84 21 1
Perseus Mining Limited 2.3B 42 88 83 65 22 1
Deterra Royalties Limited 2.3B 45 83 66 61 23 1
Sandfire Resources Limited 1.9B 64 73 74 69 24 1
Core Lithium Ltd 1.8B 87 47 81 70 25 1
Chalice Mining Limited 1.5B 99 65 76 81 26 1
Grange Resources Limited 1.5B 74 61 61 64 27 1
Capricorn Metals Ltd 1.3B 37 98 97 69 28 1
West African Resources Limited 1.3B 43 84 63 59 29 1
Silver Lake Resources Limited 1.2B 95 42 41 63 30 1
De Grey Mining Limited 1.2B 44 45 76 47 31 1
Gold Road Resources Limited 1.2B 94 48 49 67 32 1
Lake Resources NL 1.2B 87 62 66 73 33 1
Sayona Mining Limited 1.2B 87 62 66 73 34 1
Regis Resources Limited 1.1B 65 50 45 53 35 1
Piedmont Lithium Inc. 1.1B 87 63 68 77 36 1
5E Advanced Materials Inc. 927.2M 74 37 56 58 37 1
ioneer Ltd 867.9M 87 55 60 69 38 1
Syrah Resources Limited 856.9M 38 67 62 50 39 1
Equigold NL 854.0M 79 44 91 65 40 1
Ramelius Resources Limited 828.4M 94 51 48 68 41 1
Vulcan Energy Resources Limited 826.7M 87 67 84 78 42 1
Jervois Global Limited 813.1M 37 94 93 71 43 1
Mincor Resources NL 808.9M 98 57 59 77 44 1
Imdex Limited 796.9M 77 60 56 56 45 1
Bellevue Gold Limited 722.0M 87 44 83 69 46 1
St Barbara Limited 701.5M 93 56 53 70 47 1
Emerald Resources NL 679.4M 37 96 94 68 48 1
Red 5 Limited 671.6M 95 58 66 75 49 1
Boart Longyear Group Ltd. 651.0M 93 58 67 74 50 1
Mount Gibson Iron Limited 629.5M 99 62 66 78 51 1
Westgold Resources Limited 575.3M 84 58 43 65 52 1
OM Holdings Limited 563.6M 50 96 97 75 53 1
Australian Strategic Materials Ltd 540.9M 91 62 66 74 54 1
Neometals Ltd 531.9M 87 66 56 72 55 1
Adriatic Metals PLC 528.8M 87 62 66 73 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

Two metrics jump up as the most significant positive drivers of the cash flow's strength in Mineral's recent report: Free Cash flow and Asset Turnover. Mineral did a great job related to free cash flow this period, which stood at -0.0, representing a -101.2% change from the previous filing. This parameter coud affect companies in the same industry and market capitalization by up to 4.3%. These free cash flow numbers show that management has executed well while generating cash flow and encouraging growth. The company's free cash flow movement, therefore, received a grade of 69. Also, Mineral is doing a remarkable job of keeping its asset turnover under control. At filing, their asset turnover metrics were 0.7, representing a -3.0% change from the previous period. This metric might have a 2.7 percent impact on companies in the same industry and with the same market capitalization. Its asset turnover metrics are especially remarkable relative to their peers. We believe the stock price has room to grow to reflect its intrinsic value accurately. Correspondingly, their asset turnover movement received a grade of 63. That said, one metric, Capital Expenditure, stood out as strongly negative. Mineral's management did not a remarkable job this period managing capital expenditures (CapEx). In terms of the raw numbers, CapEx was reported as -985.8, which represents a -34.7% change from the last period. The company's disappointing CapEx growth is expected to stunt the momentum they hoped for this period. Consequently, their CapEx movement received a grade of 54. Its cash flow, therefore, earned a score of 61.

Parameter Value Change Score
Net Cashflow -362.9 -1887.7% 58
Capital Expenditure -985.8 -34.7% 54
Asset Turnover 0.7 -3.0% 63
Free Cashflow -0.0 -101.2% 69
* All values are TTM

The below chart describes Mineral's performance as reflected on its cash flow with respect to its peers. While Mineral received a cash flow score of 61, the average of its peers stands on 69.0.

  •  MIN
  •  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
Lynas Rare Earths Limited 8.3B 78 63 76 58 70 4 1
Northern Star Resources Limited 8.2B 70 58 54 91 73 5 1
IGO Limited 7.8B 80 73 66 57 72 6 1
BlueScope Steel Limited 7.3B 48 47 56 70 52 7 1
Pilbara Minerals Limited 6.9B 87 97 76 78 86 8 1
Allkem Limited 6.9B 75 77 70 84 82 9 1
OZ Minerals Limited 6.2B 69 97 66 73 78 10 1
Evolution Mining Limited 4.8B 54 49 61 39 50 11 1
Alumina Limited 4.4B 68 74 76 70 72 12 1
OZ Minerals Holdings Pty Ltd 4.0B 49 86 84 39 50 13 1
Iluka Resources Limited 3.9B 75 84 52 74 74 14 1
Andean Resources Ltd. 3.7B 40 55 56 37 41 15 1
Coronado Global Resources Inc. 2.9B 77 86 53 93 81 16 1
Nickel Industries Limited 2.8B 75 63 76 61 70 17 1
AVZ Minerals Limited 2.8B 60 69 76 37 58 18 1
Sims Limited 2.7B 83 98 56 82 82 19 1
Zimplats Holdings Limited 2.6B 75 77 63 44 64 20 1
Liontown Resources Limited 2.4B 59 69 76 51 62 21 1
Perseus Mining Limited 2.3B 69 94 90 83 83 22 1
Deterra Royalties Limited 2.3B 77 88 96 51 75 23 1
Sandfire Resources Limited 1.9B 73 85 63 71 76 24 1
Core Lithium Ltd 1.8B 61 69 76 72 69 25 1
Chalice Mining Limited 1.5B 53 62 84 38 55 26 1
Grange Resources Limited 1.5B 75 79 76 62 73 27 1
Capricorn Metals Ltd 1.3B 81 83 81 79 82 28 1
West African Resources Limited 1.3B 73 84 42 58 66 29 1
Silver Lake Resources Limited 1.2B 63 53 64 47 58 30 1
De Grey Mining Limited 1.2B 80 69 76 61 73 31 1
Gold Road Resources Limited 1.2B 57 57 54 50 56 32 1
Lake Resources NL 1.2B 68 69 76 60 68 33 1
Sayona Mining Limited 1.2B 68 69 76 60 68 34 1
Regis Resources Limited 1.1B 65 76 68 69 69 35 1
Piedmont Lithium Inc. 1.1B 59 62 69 54 60 36 1
5E Advanced Materials Inc. 927.2M 55 48 71 71 61 37 1
ioneer Ltd 867.9M 47 57 54 51 51 38 1
Syrah Resources Limited 856.9M 59 58 43 98 69 39 1
Equigold NL 854.0M 91 69 72 84 87 40 1
Ramelius Resources Limited 828.4M 59 56 81 58 62 41 1
Vulcan Energy Resources Limited 826.7M 67 69 76 69 71 42 1
Jervois Global Limited 813.1M 43 51 38 82 54 43 1
Mincor Resources NL 808.9M 63 63 72 45 57 44 1
Imdex Limited 796.9M 71 72 79 73 74 45 1
Bellevue Gold Limited 722.0M 51 64 56 51 54 46 1
St Barbara Limited 701.5M 54 46 71 55 56 47 1
Emerald Resources NL 679.4M 84 81 80 81 84 48 1
Red 5 Limited 671.6M 68 49 48 59 59 49 1
Boart Longyear Group Ltd. 651.0M 62 74 81 63 68 50 1
Mount Gibson Iron Limited 629.5M 68 69 59 56 64 51 1
Westgold Resources Limited 575.3M 59 69 71 59 63 52 1
OM Holdings Limited 563.6M 75 90 90 75 82 53 1
Australian Strategic Materials Ltd 540.9M 72 69 76 69 72 54 1
Neometals Ltd 531.9M 62 54 71 52 60 55 1
Adriatic Metals PLC 528.8M 68 69 76 60 68 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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