Rankings Commodities & uranium Energy Transition Minerals
Energy Transition Minerals
30
15070100
A view of the same findings, not a new score. How it works
The model found several serious problems. That does not mean the stock will fall.
Biggest deductions
- Valuation vs assets−22
- Margin−11
- Licence and regulation−10
Strengths
- Net cash+1
How the score is built
From 100 to 30, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.
Start
Score
Hover or select a step to see what drove it. Steps with findings open them below.
Key numbers
As of 3 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.
- Price
- 0.04 AUD
- Median analyst target
- –
- Upside to median
- –
- Analysts
- none
- Target range
- –
- 52-week change
- −44%
- P/E (trailing)
- n/a
- Forward P/E
- n/a
- PEG
- n/a
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 3 findings−20 of −30
- −11MarginRevenue is almost zero (A$0.6m). The operating loss was A$20.7m and the net loss A$25.7m TTM vs A$11.8m in 2025 (ROE −76%, counted only here).
- −7Future segmentThe only alternative to Kvanefjeld is Penouta, a tin-tantalum-niobium mine in Spain bought for €5.2m out of the previous owner's bankruptcy. There is no published restart study, so the business today is effectively a lawsuit plus a bankrupt mine.
- −2Capital allocationFor four years the money has mainly gone to arbitration and lawsuits against Greenland and Denmark. Stock-based pay was A$1.6m in 2025, while operating cash burn was A$6.3m.
Price
Today's multiples against the company's own history and its peers. · 1 finding−22 of −35
- −22Valuation vs assetsMarket value is A$119m and EV A$78m, while equity of A$44m is almost entirely cash (A$41.7m). The market is paying about A$75m for a lawsuit and a bankrupt mine without a study; a P/B of 2.7 is only low vs the 2025 peak of 5.5.
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 5 findings−23 of −35
- −10Licence and regulationOn 26/6/2026 Greenland refused to extend exploration licence 2010/02 for Kvanefjeld, after the exploitation licence was rejected in 2022 because of the uranium law (limit of 100 ppm uranium). The resources minister has hinted that the restrictions could be widened to thorium and rare earths.
- −3LawsuitThe case continues in the Greenlandic courts: the other parties must respond on the merits by 27/10/2026, and the main hearing is expected in autumn 2027 or H1 2028 at the earliest. According to Kalkine, the claim is many times Greenland's annual budget, which makes a full win unrealistic, and the case costs money continuously.
- −5DilutionThe share count has risen 39% in a year and 14% in the last quarter, to 2.21bn shares, after a capital raise of A$24.7m in the March quarter of 2026.
- −3FundingFCF was −A$21.5m TTM vs cash of A$41.7m, i.e. about two years of burn, before the Penouta restart, which is neither funded nor costed.
- −2SentimentThe stock has fallen 26% over 52 weeks to 5.4 cents, and the 200-day average (0.08) is far above the share price.
Plus
Only documented strengths. · 1 finding+1 of +15
- +1
Caveats
What the score does not capture, or where the data is weak.
Company without real revenue, listed only on ASX (formerly Greenland Minerals). The Nordnet API does not find the share. Kvanefjeld has no usable NPV (the 2021 uranium law blocks the project), and Penouta in Spain was bought out of a bankruptcy without a published restart study, so EV vs NPV cannot be calculated. The TTM net loss of A$25.7m may include one-offs (litigation, acquisitions); it has not been broken down. There is no analyst coverage. Insider trading has not been examined. The company is considering challenging the licence refusal in the Greenlandic courts.
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