May 2026
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Largest Metals & Mining Public Companies in Australia
Benchmark revenue and EBITDA valuation multiples for public comps like
BHP Group, Rio Tinto, Fortescue, Northern Star Resources and Evolution Mining.
 | BHP is a global diversified miner mainly supplying iron ore and copper. The merger of BHP Limited and Billiton PLC created the present-day BHP Group. The dual-listed structure from the 2001 BHP and Billiton merger was collapsed in 2022. Major assets include Pilbara iron ore and Escondida copper. Onshore US oil and gas assets were sold in 2018, and the remaining Petroleum assets were spun off and merged with Woodside in 2022, with BHP vesting the Woodside shares it received to BHP shareholders. It purchased copper miner Oz Minerals in fiscal 2023 and half of the Vicuna copper joint venture in fiscal 2025. It is entering the potash market through the development of its Jansen project in Canada. However, due to low prices, BHP placed its nickel business on care and maintenance in 2024. | $42 | +55% | $214B | $228B | 4.5x | 8.9x | ||
| Rio Tinto is a global diversified miner. Iron ore is its major commodity, with lesser contributions from copper and aluminum. Lithium, diamonds, gold, and industrial minerals are more minor contributors. The 1995 merger of RTZ and CRA, via a dual-listed structure, created the present-day company. The two operate as a single business entity, with shareholders in each company having equivalent economic and voting rights. Major assets included the Pilbara iron ore operations, a 30% stake in the Escondida copper mine, 66%-ownership of the Oyu Tolgoi copper mine in Mongolia, the Weipa and Gove bauxite mines in Australia, and six hydro-powered aluminum smelters in Canada. | $128 | +60% | $208B | $225B | 3.9x | 9.1x | ||
| Fortescue is an Australia-based iron ore miner. It has grown from obscurity at the start of 2008 to become the world's fourth-largest producer. Growth was fueled by debt, now repaid. Expansion from 55 million metric tons in fiscal 2012 to about 195 million metric tons in 2025 means Fortescue supplies around 10% of global seaborne iron ore. Further expansion to about 210 million metric tons is likely once its 22 million metric ton Iron Bridge magnetite mine ramps up, likely in 2028. However, with longer-term demand likely to decline as China's economy matures, its future margins are likely to be below historical averages. More recently, Fortescue diversified into copper and green energy. It has big ambitions here but its efforts are at an early stage. | $16 | +43% | $48B | $49B | 3.2x | 6.3x | ||
| Northern Star is an Australia-based midtier global gold miner that sold around 1.6 million ounces of gold in fiscal 2025 from its three wholly owned mining operations in Australia and Alaska. Its operations are the result of significant merger and acquisition activity including 14 acquisitions and four asset sales since 2010. It had roughly a decade of reserves at the end of fiscal 2025. | $14 | +19% | $20B | $21B | 4.6x | 8.5x | ||
| Evolution Mining is an Australia-based gold miner. It sold around 750,000 ounces of gold in fiscal 2025 from six wholly or majority owned mines in Australia and Canada. Formed in 2011 via the merger of Conquest Mining and Catalpa Resources and the purchase of Newcrest Mining’s Mt Rawdon and Cracow mines, Evolution has acquired more mines and sold the generally less attractive, higher-cost mines. Cowal and Mungari were purchased in 2015, with an initial interest in Glencore’s Ernest Henry mine following in 2016, Red Lake in Canada in 2020, the rest of Ernest Henry in 2022 and an 80% stake in the Northparkes copper and gold mine in December 2023. It had roughly 15 years of gold reserves and two decades of copper reserves at the end of December 2024. | $9 | +37% | $17B | $18B | 5.6x | 11.4x | ||
| PLS is a mining and exploration company with operations in the Pilbara region of Western Australia. Its primary asset is its Pilgangoora lithium spodumene mine and concentrator. Smaller operations produce tantalite, a byproduct of lithium processing. Pilgangoora lithium mine has approximately 20 years of mine life remaining. | $4 | +382% | $14B | $14B | 21.2x | 245.1x | ||
| Lynas is the largest rare-earth producer outside China. It owns the high-grade Mount Weld deposit in Western Australia and rare-earth processing facilities in Kalgoorlie and Malaysia. We estimate that Mount Weld is the world’s lowest-cost producer of separated neodymium and praseodymium, light rare-earth materials, which are sold to customers in the form of neodymium-praseodymium oxide with a mine life exceeding 20 years. As of December 2025, Lynas is also the only producer of separated heavy rare-earth dysprosium and terbium outside China. The company is further expanding NdPr capacity while diversifying into producing additional separated rare-earth materials, including samarium. It also intends to move downstream into rare-earth metal and magnet production. | $13 | +132% | $13B | $12B | 32.1x | 149.8x | ||
| South32 was born of the demerger of noncore assets from BHP in 2015. Its major operations include alumina businesses in Australia and Brazil, aluminum in Brazil, South Africa, and Mozambique, and manganese businesses in Australia and South Africa. It sold New South Wales metallurgical coal in August 2024 and the Cerro Matoso nickel mine in Colombia in December 2025. It also owns the Cannington silver/lead/zinc mine in Queensland. Its Australian manganese operations deliver high returns, but have a relatively short reserve life. The company acquired Arizona Mining, which brings with it the high-grade and likely low-cost Taylor project in the US, and also entered the copper business in 2022 via the purchase of a 45% stake in the Sierra Gorda mine in Chile. | $3 | +34% | $13B | $13B | 2.3x | 7.2x | ||
| Mineral Resources listed on the ASX in 2006 following the merger of three mining services businesses. The subsidiary companies were previously owned by managing director Chris Ellison, who remains a large shareholder despite selling down. Operations include iron ore and lithium mining, iron ore crushing and screening services for third parties, and engineering and construction for mining companies. Mining and contracting activity is focused in Western Australia. | $47 | +199% | $9B | $13B | 4.0x | 23.7x | ||
| Sandfire Resources Ltd is a copper-focused mineral exploration and development company. The company's operating segments include DeGrussa Copper operations, MATSA Copper Operations, Black Butte Copper Project, Motheo Copper Operations, and Exploration and Other. It derives key revenue from the MATSA Copper Operations segment, which consists of the Minas de Aguas Tenidas (MATSA) polymetallic mining complex in Spain and exploration and evaluation activities in Spain and Portugal. The operations comprise three underground mines and a central processing facility. The mines generate revenue from the sale of copper, zinc, and lead concentrates containing a silver by-product. Geographically, the company generates maximum revenue from Spain, followed by China, Sweden, Malaysia, and other regions. | $13 | +58% | $6B | $6B | 5.1x | 11.2x | ||
| Perseus is an Australia-based gold miner. It sold around 510,000 ounces of gold in fiscal 2024 from its three majority-owned mines in West Africa. Founded in 2004, Perseus bought all three of its operating mines originally as exploration licenses or development projects. Its 90%-owned Edikan mine in Ghana achieved first gold in 2011, with 86%-owned Sissingue and 90%-owned Yaoure in Ivory Coast following in 2018 and 2020, respectively. The company also purchased its 70%-owned Meyas Sand gold project in Sudan in 2022 and its 80%-owned Nyanzaga gold developmemt in Tanzania in fiscal 2024. Excluding Meyas Sand, where development is on hold due to armed conflict in Sudan, it had about a decade of reserves at end fiscal 2025. We forecast it sells about 500,000 ounces of gold in fiscal 2030. | $4 | +39% | $5B | $5B | 3.6x | 6.2x | ||
| Liontown Ltd is a battery minerals provider focused on supplying minerals used in energy and industrial applications. It holds two lithium deposits in Western Australia and seeks to expand its portfolio through exploration, partnerships, and acquisitions. The company also considers participating in downstream activities where having control of mineral deposits may offer operational advantages. | $2 | +284% | $5B | $5B | 25.3x | 145.7x | ||
| Genesis Minerals Ltd is an Australian gold exploration company. The Group’s sole activity is mineral production, exploration and development of mineral interests in the Leonora region, wholly within Australia. It owns an interest in Ulysses Gold Project and Laverton Gold Project. The company generates revenue from the sale of Gold and Silver, with the majority of revenue coming from the sale of Gold. | $4 | +30% | $5B | $5B | 7.3x | 14.5x | ||
| IGO is a mining and exploration company based in Western Australia. Its primary asset is a minority stake in the Greenbushes lithium mine through a joint venture with Tianqi Lithium Corporation and Albemarle. Greenbushes is the world’s lowest-cost hard rock lithium resource. IGO also has interest in downstream processing through a 49% stake in the Kwinana lithium hydroxide refinery. Outside of lithium, IGO owns and operates the Nova nickel-copper-cobalt mine, which has a short remaining life. | $6 | +115% | $4B | $4B | 11.4x | (180.8x) | ||
| Ramelius Resources Ltd is a gold exploration and production company with exploration activities focused in Western Australia. The company also explores for base metals. The company has three segments: Mt Magnet, involving mining and processing of gold from the Mt Magnet region including the Penny and Cue Gold Mines; Edna May, involving mining and processing of gold from the Edna May region including the Marda, Tampia, and Symes Gold Mines; and Exploration, which covers exploration and evaluation of gold mineralization, notably the Rebecca-Roe projects. The company generates the majority of its revenue from the Mt Magnet segment. | $2 | +13% | $4B | $4B | 4.6x | 6.6x | ||
| Capricorn Metals Ltd is a mineral exploration and project evaluation company. The company's reportable segments includes the Karlawinda gold project and the Mount Gibson Gold project. It derives maximum revenue from Karlawinda gold project. | $9 | +39% | $4B | $4B | 10.8x | 19.5x | ||
| Westgold Resources Ltd is a gold producer with a large and strategic landholding across two of Western Australia’s prolific gold regions, the Murchison and the Southern Goldfields. The group has acquired several square kilometers of land holdings and operates multiple underground mines and four processing hubs across these regions. Its reportable segments are: Murchison and Southern Goldfields. The majority of the group's revenue is generated from the Murchison segment, which incorporates the operations of its three processing hubs at Cue, Meekatharra, and Fortnum. The group generates maximum revenue from the sale of gold at spot, and the rest from the sale of silver. | $4 | +73% | $4B | $3B | 3.4x | 10.1x | ||
| Regis Resources Ltd is one of Australia's gold companies, producing around 437,309 ounces annually. Cash costs are below the industry average. Operating mines are located in Western Australia, which brings relatively low sovereign risk. Management has a sound operating track record and an appropriate bias towards balance sheets and dividends; however, the gold price and new investments will be the primary arbiters of long-term returns. Development of the McPhillamys deposit in New South Wales, if approved, should add approximately two hundred thousand ounces of gold production a year in the medium term. The Company has three reportable segments: the Duketon North Operations, Duketon South Operations, and Tropicana Gold Project. | $5 | +29% | $4B | $3B | 2.5x | 5.3x | ||
| Vault Minerals Ltd is engaged in gold production, development, and mineral exploration assets in Australia. The company's operating segment includes King of the Hills, Mount Monger, Deflector, and Sugar Zone. The company generates the majority of its revenue from the King of the Hills project, which produces gold bullion. The Deflector operation produces gold bullion and gold-copper concentrate. | $3 | +60% | $3B | $3B | 2.9x | 6.6x | ||
| Nickel Industries Ltd is engaged in acquiring, exploring, and developing nickel projects. The group has three segments: nickel ore mining in Indonesia, the RKEF projects in Indonesia and Singapore, and the HPAL projects in Indonesia. Its principal operations, located in Indonesia, are the Hengjaya Nickel, Oracle Nickel, and RKEF projects located within the Indonesia Morowali Industrial Park (IMIP), the Angel Nickel RKEF Project within the Indonesia Weda Bay Industrial Park (IWIP), and the Hengjaya Mine, a large tonnage, high grade nickel laterite deposit in proximity to the IMIP. | $1 | +51% | $3B | $4B | 2.5x | 16.2x | ||
| Sims is the world's largest publicly traded metal and electronics recycler, with about three-fourths of earnings generated in North America and the remainder from Australia and New Zealand. Its main business is the buying, processing, and selling of scrap metal. Sims North American segment comprises the largest ferrous scrap recycler in North America, trading as Sims Metal Management, and 50% owned SA Recycling. Almost all sales are of ferrous metals with less than 10% of sales volumes from more valuable nonferrous metals retrieved in the scrap recycling process. | $16 | +50% | $3B | $4B | 0.7x | 12.7x | ||
| Predictive Discovery Ltd is focused on discovering and developing gold deposits within the Siguiri Basin, Guinea. Its key asset is the Tier-1 Bankan Gold Project. A Mineral Resource has been defined to date at the NEB and BC deposits, making Bankan the gold discovery in West Africa in a decade. The group portfolio includes The Koundian Project, The Bankan Gold Project, Regional Exploration, and other projects. Its segment consists of Gold Guinea and Corporate. | $1 | +144% | $3B | $3B | — | — | ||
| Emerald Resources NL is engaged in mineral exploration primarily in Cambodia and advancing the company's Okvau Gold Project. The company's operating segments include Mine Operations, Exploration, and Others. Its geographical segments include Cambodia, and Western Australia, The company's project includes the Cambodia Gold project and the Magoffin County project. | $4 | +25% | $3B | $3B | 8.4x | 19.8x | ||
| West African Resources Ltd is engaged in mineral exploration in Burkina Faso. It focuses on the development of the Sanbrado Gold Project. The Group's mineral portfolio also includes gold and copper-gold exploration permits in Burkina Faso. The operating segments of the Company that includes Mining Operations: comprise the Sanbrado Gold Project operation located in Burkina Faso. Construction and E&E segment comprises mines under construction andexploration and evaluation (E&E) projects in locations other than Sanbrado. | $2 | +9% | $3B | $2B | 2.2x | 3.6x | ||
| Iluka Resources is a leading global mineral sands miner. It is the largest global producer of zircon, and one of the largest producers of titanium dioxide feedstocks (rutile, synthetic rutile). Low zircon costs are underpinned by the high-grade Jacinth-Ambrosia mine in South Australia but reserve life is less than 10 years. A 20% shareholding in Deterra Royalties brings exposure to the high-quality Mining Area C iron ore royalty. Production from its Balranald rutile and zircon mine commenced in late 2025 while it also building a rare-earth refinery at Eneabba. The refinery will be able to process Iluka's existing monazite stockpile as well as feed from third parties, Balranald and future Iluka projects. | $6 | +111% | $2B | $3B | 4.3x | 13.6x | ||
| AVZ Minerals Ltd is an Australia-based mineral exploration company. It explores and develops iron ore, base metals, and rare earth metals blocks in Namibia. The company holds an interest in the Manono Extension lithium, tin, and tantalum project located in the southern Democratic Republic of Congo (DRC). | $1 | -- | $2B | $2B | — | (398.0x) | ||
| Ora Banda Mining Ltd operates as an exploration and production company in Australia. The company is focused on mineral exploration, mining operations, mine development, and the sale of gold in Western Australia. It owns an interest in the Davyhurst Project located to the northwest of Kalgoorlie within the Eastern Goldfields of Western Australia. Some of the projects of the company are Riverina, Callion, Siberia, Lady Ida, and Others. | $1 | +24% | $2B | $2B | 6.4x | 13.9x | ||
| Resolute Mining Ltd is an Australia-based gold producer. Its principal activities include gold mining, prospecting, and exploration of minerals. The company organizes its operations into business divisions, namely Mako (Senegal), and Syama (Mali). It generates the majority of its revenue from the Syama (Mali) segment. Syama is a robust, long-life asset comprising an underground mine and associated sulfide processing circuit, along with satellite open pit operations that provide ore feed to a separate oxide processing circuit. Mako is a high-quality, open-pit gold mine. | $1 | +99% | $2B | $2B | 2.2x | 5.1x | ||
| Champion Iron Ltd is engaged in the exploration and development of iron ore properties in Quebec, Canada. The company projects include Fire Lake North, Powderhorn/Gullbridge, Moire, Quinto Claims, Harvey Tuttle, O'keefe-Purdy, and others. Its segment includes Iron Ore Concentrate, Exploration and Evaluation, and Corporate. The company generates the maximum of its revenue from the Iron Ore Concentrate segment. | $3 | +12% | $2B | $2B | 2.1x | 7.1x | ||
| Bellevue Gold Ltd is a gold exploration company. The single operating segment of the company is the exploration and evaluation of minerals, mining, and processing of Gold in Australia. The company projects include the Bellevue Gold Project which is located in the northwest of Kalgoorlie in Western Australia, the Kathleen Valley Project, and the South Yandal Gold Project. | $1 | +81% | $2B | $2B | 4.9x | 13.6x | ||
| Alkane Resources Ltd is an Australia-based gold and antimony producer. The company has three wholly owned producing mines across Australia and Sweden. Its portfolio includes the Tomingley Gold Project located in Central West NSW, Costerfield in Victoria and Bjorkdal in Northern Sweden. Alkane also owns the gold-copper porphyry Boda-Kaiser Project in NSW. | $1 | +100% | $1B | $1B | 7.2x | 18.4x | ||
| Elevra Lithium Ltd is a mineral exploration and development company. The principal activity of the company is the identification, acquisition, and evaluation of mineral exploration assets, focusing on lithium. The projects of the company include the Moblan Lithium Project, the Carolina Lithium Project, the Ewoyaa Lithium Project, North American Lithium, and other projects. The company also holds an interest in a tenement portfolio in the Pilbara region, prospective for gold and lithium. | $8 | +395% | $1B | $1B | 9.5x | (34.9x) | ||
| Sunrise Energy Metals Ltd is an Australia-based company engaged in the development of the Sunrise Battery Materials Complex (Sunrise Project), a nickel-cobalt-scandium deposit in New South Wales. It utilises its Clean-iX resin technology for the extraction and purification of a range of metals, as well as advancing exploration activities at the company’s other mineral tenements. Geographically, the company operates wholly in Australia. | $9 | +2664% | $1B | $1B | — | — | ||
| Minerals 260 Ltd is a mineral exploration company. The company's projects include Moora Project, Aston Lithium- Lithium, Uranium & Rare Earth Element Project Koojan JV Project, Dingo Rocks, and Yalwest. | $1 | +431% | $1B | $1B | — | — | ||
| Develop Global Ltd is an Australian company focused on the exploration and development of its advanced zinc-copper projects located near Port Hedland in the premier Pilbara mining province of Western Australia. The company owns two advanced Zinc / Copper projects which include Woodlawn Copper and Sulphur Springs. | $4 | +37% | $1B | $1B | 7.6x | 65.1x | ||
| Brazilian Rare Earths Ltd is an Australian-based company focused on exploring rare earth elements and other critical minerals in Brazil. The company owns and operates a district-scale Tier One Rare Earths Province, located in North Eastern Brazil. The company has a project named Rocha da Rocha Critical Minerals which represents one of the exciting critical minerals discoveries globally. The company has two segments namely Brazil exploration and Corporate, of which it derives a maximum revenue from Brazil Exploration. | $4 | +35% | $1B | $1B | — | — | ||
| Kingsgate Consolidated Ltd is engaged in gold and silver mining, development, and exploration company based in Sydney, Australia. Its operating segment includes Chatree Gold Mine, Thailand, and Nueva Esperanza Gold/Silver Project, Chile. The company derives maximum revenue from the Chatree Gold Mine project. | $4 | +189% | $1B | $1B | 4.7x | 16.8x | ||
| Arafura Rare Earths Ltd is engaged in mineral exploration, definition, and development of Neodymium-Praseodymium oxide and Mixed middle-heavy rare earth oxide products, mining and associated infrastructure, social and environmental feasibility evaluations, and Nolans Project engineering studies. Its products are used in catalytic converters in automobiles, consumer electronics, energy-efficiency lighting, optics, super alloys, advanced ceramics, and high-strength magnets. | $0 | +87% | $1B | $614M | — | — | ||
| Catalyst Metals Ltd is engaged in the mineral exploration and evaluation and production of gold. The company's flagship mineral exploration projects include Tandarra Gold Project, Raydarra Project, Four Eagles Project, Macorna Bore Project, Sebastian Project, and Henty Gold Mine. The business is organized into four operating segments namely Victoria, Tasmania, Western Australia, Corporate and unallocated The main products and services of business operating segments are the mining and exploration , evaluation operations in Australia. Substantial revenue generates from the Tasmania segment. | $4 | -5% | $1B | $867M | 2.9x | 6.8x | ||
| FireFly Metals Ltd is a high-grade copper and gold explorer developer in Canada. The company advances the Green Bay Copper-Gold Ming Mine project in Newfoundland & Labrador and exploring the high-grade Pickle Crow Gold project in Ontario. | $1 | +73% | $1B | $835M | — | — | ||
| Metals X Ltd is an Australian mining company. The company is engaged exploration and development of base metals projects in Australia. Its project includes the Renison Tin operation through its stake in the Bluestone Mines Tasmania Joint Venture, and others. | $1 | +200% | $1B | $793M | 3.9x | 7.4x | ||
| Pantoro Gold Ltd owns and operates the Norseman Gold Project in Western Australia with active open-pit and underground mines. It operates in a single operating segment, being the Norseman Gold Project. | $2 | -4% | $886M | $809M | 3.2x | 6.5x | ||
| Lindian Resources Ltd is an Australia-based mineral exploration company. The group focuses on exploring and developing critical resources, including rare earths and bauxite, which are essential for modern technologies. This includes electric vehicles (EVs), electronic infrastructure, solar panels, rechargeable batteries, wind turbines, medical imaging equipment, and various manufacturing processes. Lindian’s Kangankunde Rare Earths Project is a rare earth resource with the potential for size, grade, and quality. It also holds interests in other projects such as the Lelouma, Woula, and Gaoual projects in Guinea; and the Lushoto, Pare, and Uyowa projects in Tanzania. Geographically, the company operates in Australia, which derives maximum revenue, Tanzania, Guinea, and Malawi. | $0 | +437% | $873M | $832M | — | — | ||
| Energy Resources of Australia Ltd (ERA) is engaged in the mining, processing, and sale of uranium oxide. It operates the Ranger uranium mine. The Ranger mine's operational infrastructure lies within the 79-square-kilometer Ranger Project Area, which is located eight kilometers east of Jabiru and 260 kilometers east of Darwin, in the Northern Territory of Australia. The Company is structured as a single operating segment, focused on the rehabilitation of the Ranger mine. | $0 | +51% | $872M | $443M | 17.0x | (4.6x) | ||
| EQ Resources Ltd is a mineral exploration and development company. The company explores tungsten and gold. The project portfolio includes Mt. Carbine, Crow Mountain and Panama Hat. The geographical segments are Queensland and New South Wales, Australia. | $0 | +637% | $854M | $882M | 18.6x | (52.3x) | ||
| Magnetic Resources NL is an Australian mineral exploration company focused on gold and other minerals in Western Australia. It holds a majority interest in projects, including Lady Julie Central, Lady Julie North, Hawks Nest, Homeward Bound South, and Benjabbering, located in the Laverton and Julimar regions. The company’s main focus is on developing gold deposits near existing mining operations and infrastructure. Magnetic Resources aims to advance these projects toward production, with many gold resources already identified. The majority of income is generated by the interest income received. | $3 | +15% | $772M | $766M | 665816.1x | (116.8x) | ||
| WA1 Resources Ltd is a mineral development in Western Australia and the Northern Territory. Its projects include West Arunta, Madura, Hidden Valley, and Niobium. | $10 | +6% | $748M | $650M | — | — | ||
| Core Lithium Ltd is a lithium exploration company. The company is engaged in the exploration of lithium and copper deposits in the Northern Territory and South Australia. Its projects include the Finniss Lithium Project and copper, zinc, and lead projects. Its segment includes Finniss Lithium Project mining, crushing, and processing operations, and Exploration: exploration and evaluation of mainly Lithium mineralisation. It generates the majority of its revenue from the Finniss Lithium Project operations segment. | $0 | +253% | $731M | $697M | (439.8x) | (59.5x) | ||
| BCI Minerals Ltd is an Australia-based resources company, managing a diversified portfolio of mineral interests. Its assets include Mardie Salt, Carnegie Potash, and other exploration projects including Marble bar, Black Hills, and Maitland. The company earns potential iron ore royalties over third-party projects located in the Pilbara. It holds an interest in Mardie Salt & Potash Project, Carnegie Potash Project, and Iron Valley Iron Ore Mine. The firm has two reportable segments being; Mardie, and Corporate. | $0 | +16% | $716M | $1B | 24.2x | 89.1x | ||
| Black Cat Syndicate Ltd is a mining company. It focuses on the exploration and development of the goldfield project. The Group has identified four reportable segments of its business namely total operations: mining and processing of gold, Mine development, Exploration: exploration and evaluation of gold mineralisation and Other: corporate expenditures supporting the business. The company is engaged in the exploration and development of the Bulong Gold Field project located to the east of Kalgoorlie. The company's project includes Kal East Gold project, Coyote Gold Operation, Paulsens Gold Operation. | $1 | +58% | $565M | $542M | 20.2x | (320.1x) | ||
| Wildcat resources Ltd is an Australian-based mineral exploration company focused on exploration and resource development, focusing mainly on lithium and gold exploration. The company's project portfolio includes the Tabba Tabba and the Bolt Cutter lithium projects, and the Mt Adrah gold project, located in Australia. Additionally, it has several early-stage tenements and applications across Western Australia. The company reports in two operating segments, being exploration and evaluation operations related to Lithium and Gold commodities. | $0 | +287% | $555M | $520M | — | — | ||
| Dateline Resources Ltd is an Australian-based company focused on gold mining and exploration targets in Colorado, located in the United States of America, as well as in the Republic of Fiji and Australia. It derives maximum revenue from the USA. The company's projects include the Colosseum Gold Mine, Gold Link, Udu Mine, the Colosseum Rare Earths Project, the Argos Strontium Project, and others. | $0 | +136% | $543M | $523M | 2366.5x | (63.8x) | ||
| St Barbara Ltd is engaged in gold mining, production and sales, mineral exploration, and project development. The focus of the business is the Simberi Expansion Project. Simberi is an open-cut mining operation situated on the northernmost island of the Tabar Group, in the New Ireland Province of Papua New Guinea. | $0 | +90% | $538M | $486M | 3.1x | (20.1x) | ||
| Wia Gold Ltd is engaged in gold exploration and evaluation in Namibia and Cote d’Ivoire. Its project portfolio comprises the Kokoseb Gold Project in Namibia and the Issia, Mankono Oest, Bouafle, and Bocanda permits in Cote d’Ivoire. The group's reportable segments are: Namibia, Cote d’Ivoire, and Corporate. | $0 | +116% | $530M | $497M | — | — | ||
| European Lithium Ltd focuses on lithium exploration in Austria and holds an interest in Tanbreez Mining Greenland A/S, which has a rare earth exploitation permit in Greenland. The Group’s main projects include Wolfsberg, Bretstein-Lachtal, Klementkogel, Wildbachgraben, Weinebene, and Eastern Alps projects in Austria, Leinster Lithium in Ireland, and Dobra and Shevchenkivske projects in Ukraine. This portfolio emphasizes lithium and rare earth mineral exploration across Europe and Greenland. The company operates in Australia, Austria, and Greenland. | $0 | +810% | $511M | $369M | 17289.9x | (43.3x) | ||
| Larvotto Resources Ltd is engaged in the exploration and evaluation of mineral resources projects in New South Wales, Western Australia, Queensland, and New Zealand. Its projects portfolio includes Hillgrove Gold Antimony project, Mt Isa Copper project, Ohakuri project, and Eyre project. | $1 | +125% | $457M | $434M | — | — | ||
| Tivan Ltd is an Australia-based critical minerals company. It is engaged in the exploration, evaluation, and development planning for its resource projects across northern Australia and Timor-Leste. Its project portfolio includes Speewah Fluorite, Speewah Vanadium, Sandover AI, Molyhil Tungsten-Molybdenum, Sandover Fluorite, and Turiscai Copper-Gold in Timor-Leste. Additionally, it holds various interests in several other non-core resource projects. The company has one reportable segment, being mineral exploration in Australia. | $0 | +200% | $448M | $439M | — | — | ||
| Santana Minerals Ltd is focused on precious metal exploration focusing on the Bendigo-Ophir Project in New Zealand. Its projects include the Cuitaboca Project in Mexico and Cambodian Project. It has two operating segments Mexico and New Zealand. | $0 | +25% | $428M | $364M | — | — | ||
| African Gold Ltd is involved in exploration and evaluation of mineral resources and pursuing various investment opportunities in the resources sector designed to add shareholder value by acquiring, exploring, evaluating and exploiting mineral resource project opportunities in Africa. The company's operating segment includes Exploration and evaluation of Minerals in Cote d'Ivoire and Exploration and evaluation of Minerals in Mali. | $1 | +701% | $426M | $425M | — | — | ||
| Rox Resources Ltd is a mineral exploration company. Its projects include the Mt Fisher Gold Project, the Youanmi Gold Project, and Cannon Resources Limited. The Youanmi Gold Mine is located 480 km to the northeast of Perth, Western Australia. Geographically, the company operates within Australia. | $0 | +103% | $424M | $388M | — | — | ||
| Focus Minerals Ltd is engaged in gold exploration and production in Western Australia. The company's projects include Coolgardie Gold Project which generates key revenue, and Laverton Gold Project. | $1 | +416% | $405M | $294M | 1.4x | 3.0x | ||
| Turaco Gold Ltd is engaged in the acquisition, exploration, and development of mineral interests, prospective for precious metals and other mineral deposits. Its exploration projects consist of the Afema Gold Project and Eburnea Gold Project. The Group has one reportable segment: Ivorian Operations. | $0 | +13% | $404M | $391M | — | — | ||
| Lifezone Metals Ltd seeks to support the clean energy transition through the licensing of Hydromet Technology as an alternative to smelting and metals refining and to become an emerging supplier of responsibly sourced, lower-carbon and lower-sulfur dioxide emission metals to the battery, EV, and hydrogen markets modern pre-development exploration-stage metals company. Its business comprises three segments: Metals extraction and refining for developing and operating a vertically integrated base metal operation in the northwest region of Tanzania and Intellectual property licensing comprises patents residing with and managed by the subsidiary and corporate. | $4 | +11% | $402M | $435M | 411.8x | (175.4x) | ||
| Chalice Mining Ltd is engaged in the exploration of precious and base metal properties. The project portfolio includes Julimar Nickel-Copper-PGE Project, Pyramid Hill Gold Project, Hawkstone Nickel-Copper-Cobalt Project, South West Nickel-Copper-PGE Project, Barrabarra Nickel-Copper-PGE Project, Auralia Nickel-Copper-Gold Project, Warrego North Project, Mt Jackson Gold Project, Nulla South & Gibb Rock Gold Project, and Viking Gold Project. It operates in one reportable segment being mineral exploration and evaluation. | $1 | +24% | $398M | $348M | — | — | ||
| Galan Lithium Ltd is a mineral exploration company in Australia. It is engaged in identifying, acquiring, and/or developing mineral projects. Its minerals portfolio includes the Greenbushes South project and the Candelas Project in Argentina, and the Greenbushes South Project in Australia. | $0 | +464% | $374M | $364M | — | — | ||
| Meteoric Resources NL is an Australian company focused on exploring and developing mineral tenements in Brazil, Canada, and Australia. Its flagship project is the Caldeira Rare Earths Project in Minas Gerais, Brazil, a world-class ionic absorption clay rare earth deposit. In Australia, it holds interests in the Warrego North IOCG Project in the Northern Territory, the Webb Diamond JV in Western Australia, and has sold the Palm Springs Gold Project. In Canada, it has a portfolio of cobalt projects in Ontario, targeting high-grade cobalt-copper-gold mineralization. | $0 | +54% | $373M | $350M | — | — | ||
| Jupiter Mines Ltd is an independent mining company based in Perth, Western Australia, focused on the investment, production, and sale of manganese ore through its flagship Tshipi manganese mine in South Africa. Situated in the resource-rich Kalahari Manganese Field. | $0 | +25% | $367M | $359M | — | — | ||
| Aeris Resources Ltd is a mineral exploration and production company. It engages in the exploration, production, and sale of copper, gold, zinc, and silver. The company's reportable segments are; Tritton Copper Operations (Tritton) in New South Wales; Cracow Gold Operations (Cracow) in Queensland; North Queensland Copper Operations (North Queensland), Jaguar Zinc and Copper Operations (Jaguar) in Western Australia; Stockman Copper and Zinc Project (Stockman) in Victoria; and Others, representing corporate activities. Maximum revenue is generated from the Tritton Copper Operation segment. | $0 | +152% | $365M | $313M | 0.8x | 2.9x | ||
| Aurelia Metals Ltd is an Australian mining and exploration company with a strategic landholding in the Cobar Basin of western New South Wales. It operates three underground base metal mines across its Peak and Federation operations. The consolidated group's principal activities include the production of gold, silver, copper, lead, and zinc, as well as mineral exploration. The Company is processing the Great Cobar Project, a consented high-grade copper development located at Peak. The company’s segments include the Peak Mine and Hera Mine project, with the majority of revenue generated from Peak Mine. | $0 | +1% | $364M | $309M | 1.3x | 3.4x | ||
| AIC Mines Ltd is engaged in exploration, mine development and production, mine operations, and the sale of copper concentrate in Australia. The company’s key projects include the Jericho copper project located south of Eloise, the Eloise Regional Project, the Cannington Project, the Windsor base metal project, and the Pyramid gold projects south of Charters Towers. Additionally, it operates the Delamerian Project with three large exploration licenses in western New South Wales, the Marymia Project, and the Peake and Denison Project located in the Northeast Gawler region. The company operates in one geographical area, Australia, and two segments are mining, exploration, and corporate activities. | $0 | +87% | $355M | $320M | 2.3x | 6.8x | ||
| New Murchison Gold Ltd Formerly Ora Gold Ltd is engaged in the mineral exploration industry in Australia. The company projects include Garden Gully; Red Bore and Keller Creek in Western Australia. The Garden Gully Gold Project represents an excellent opportunity for the discovery of a new gold camp in a region that has an established track record of hosting such occurrences. | $0 | +150% | $327M | $313M | 24.3x | 88.3x | ||
| Ausgold Ltd is a gold exploration and development company with a suite of projects located in Australia's mineral provinces. Its primary focus is the Katanning Gold Project (KGP), which covers the Katanning greenstone belt in south-western Western Australia. Its projects include the Katanning Gold Project, Cracow Project, Yamarna Project, and Others. | $1 | +27% | $320M | $266M | — | — | ||
| 29Metals Ltd is a copper-focused base and precious metals mining company. It has two long-life, producing assets: Golden Grove in Western Australia (copper, zinc, gold, and silver) and Capricorn Copper in Queensland (copper and silver). The group has three reportable segments which are Golden Grove, Capricorn Copper, and Exploration (which includes Redhill and regional exploration activities at Golden Grove and Capricorn Copper), and the majority of its revenue is generated from golden grove. | $0 | +40% | $320M | $423M | 1.0x | 3.4x | ||
| Ioneer Ltd is a mineral exploration and development company. The company's focus is on the Rhyolite Ridge Lithium-Boron Project located in Nevada, USA. Geographically, the group has a business presence in Australia and North America. The company's focus is to develop a U.S.-based source of lithium and boron. | $0 | +22% | $320M | $302M | 438.7x | (31.6x) | ||
| Unico Silver Ltd is a growth-oriented silver development company. Its flagship Cerro Leon project is located in the mining-friendly Santa Cruz province of Argentina. It has two operating segments, Australia projects and Argentina projects. | $0 | +176% | $304M | $256M | — | — | ||
| Andean Silver Ltd is a mineral exploration and development company focused on advancing its own Cerro Bayo Silver-Gold project located in the Aysen region of Southern Chile. The project covers a large area with inferred silver and gold mineral resources. Andean Silver conducts exploration and development activities aimed at progressing the Cerro Bayo project toward production. It is organised into two segments: (a) Chile (Gold and Silver), (b) Australia (Lithium and Rare Earth minerals), with a substantial part of revenue being generated from the Chile segment. The company is generating income predominantly through interest income. | $1 | +89% | $304M | $264M | — | — | ||
| Sovereign Metals Ltd is a mineral exploration company. It is engaged in the mineral exploration, identification, and appraisal of resource projects. The company has one operating segment, which is exploration in Malawi. The company is focused on developing its Kasiya rutile-graphite project in Malawi. | $0 | +8% | $301M | $277M | — | — | ||
| Antipa Minerals Ltd is a mineral exploration company focused on the Paterson Province in north-west Western Australia. Its key asset is the Minyari Dome Gold-Copper Development Project, which it is advancing through targeted drilling and exploration. The project benefits from proximity to operations like Greatland’s Telfer and Havieron projects, as well as Rio Tinto’s Winu deposit, offering infrastructure synergies. | $0 | +4% | $297M | $261M | — | — | ||
| ST George Mining Ltd is a mining exploration company focused on the exploration and development of its nickel, copper, and gold projects in Australia. The company's projects include MT Alexander project, St George’s Paterson Project, Broadview Project, and, Ajana Project and others. | $0 | +853% | $296M | $257M | — | — | ||
| Metro Mining Ltd operates an Australian exploration and mining company based in Brisbane, Queensland. Its flagship project is the Bauxite Hills Mine. The principal activities of the Group are the exploration, mining, and sale of bauxite, and the brownfield expansion of the Bauxite Hills Mine. The Group’s customers are located in one geographic area, China, with all of the revenue from the sales of bauxite derived from that area. | $1 | +2121% | $290M | $309M | 1.1x | 2.8x | ||
| MGX Resources Ltd is an Australian mining company. The company’s flagship production asset is the Koolan Island mine in WA’s Kimberley region. The Company also holds precious and base metals exploration tenements in the Mid-West and Gascoyne regions of Western Australia. Its other projects include the Central Tanami Gold Project and the WA Exploration - Tallering Peak and Edmund Basin. | $0 | +20% | $288M | ($36M) | (0.1x) | 1.1x | ||
| Metallium Ltd is an industrial technology company pioneering a new category of clean metallurgy and metal recycling. Its patented Flash Joule Heating (FJH) platform, developed at Rice University, is a transformative process technology that enables selective recovery of critical and precious metals from complex ores, industrial wastes, and high value scrap. Unlike conventional smelting or leaching, FJH applies ultrafast electrical energy to unlock or volatilise metals, delivering rapid recovery without acids, tailings, or long thermal cycles. Its facalities will produce gallium, indium, rare earths, lithium, gold, copper, tin, and other strategic materials - metals central to clean energy, semiconductors, and defence. | $0 | +63% | $280M | $263M | — | — | ||
| Brightstar Resources Ltd is a gold exploration company. It is engaged in the exploration, mining, and processing of gold. The project portfolio includes the Cork Tree Well, Alpha, Beta, Second Fortune, Jasper Hills, and Menzies Gold. | $0 | -39% | $272M | $280M | 11.6x | (362.6x) | ||
| Coronado Global Resources Inc is a producer, marketer, and exporter of a full range of metallurgical coals, an essential element in the production of steel. The Company has a portfolio of operating mines and development projects in Queensland, Australia and in the states of Pennsylvania, Virginia and West Virginia in the United States. It has two reportable segments being Australia and USA. | $0 | +106% | $271M | $927M | 0.5x | (6.4x) | ||
| Viridis Mining and Minerals Ltd is an Australian-based mineral exploration company with projects in Australia, Brazil, and Canada. Its Colossus Project in Minas Gerais, Brazil, is an Ionic Adsorption Clay rare earth project, targeting elements like neodymium and praseodymium. The project has progressed with the production of Mixed Rare Earth Carbonate, metallurgical testing, and regulatory approvals. Other projects include South Kitikmeot gold in Canada, Boddington West gold, Bindoon nickel-copper, and Poochera and Smoky kaolin-halloysite projects in Australia. Corporate management and the majority of revenue come from Australia. | $2 | +991% | $257M | $247M | — | — | ||
| Centaurus Metals Ltd is engaged in exploration and evaluation activities related to mineral resources in Brazil. Its project portfolio comprises the Jaguar Nickel Sulphide Project, located in the western portion of the world-class Carajas Mineral Province of Brazil, the Jambreiro Iron Ore Project, and the Boi Novo Copper-Gold Project. Geographically, the company has its presence in Australia and Brazil. | $0 | +64% | $254M | $237M | — | — | ||
| Silver Mines Ltd is a silver exploration company. The company's operating segment include Mining and Exploration Operations and Agricultural Operations. The company projects include Bowdens Silver Project, Barabolar Project, and Tuena Project. The company generates all of its revenue from Agricultural operations. | $0 | +63% | $247M | $218M | 1429.1x | (86.1x) | ||
| Medallion Metals Ltd is a minerals exploration company based in Perth, Western Australia. To the north, it has the Ravensthorpe Gold Project, comprising mineral rights yielding amounts of high-grade gold and copper. To the south, the Jerdacuttup Project is prospective for base and precious metals. The firm has one reportable segment that is Project Operations. | $0 | +100% | $245M | $203M | 254.4x | (69.2x) | ||
| Hot Chili Ltd is a mineral exploration company with assets in Chile. It aims to build shareholder value through the growth and development of its high-quality Costa Fuego copper-gold project located in a low elevation, accessible region of northern Chile. With substantial mineral resources and an active drill program testing new targets, Hot Chili provides substantial leverage to the copper price due to the size, quality and location of its resource base. | $1 | +210% | $244M | $241M | — | — | ||
| Meeka Metals Ltd is a gold and rare earths company with a portfolio of high-quality 100% owned projects across Western Australia. The projects of the company include the Murchison Gold Project, Circle Valley Project, and others. | $0 | -19% | $243M | $221M | — | — | ||
| Nova Minerals Ltd is a Gold, Antimony and Critical Minerals exploration and development company focused on advancing the Estelle Project. It includes projects such as Estelle Gold and Critical Minerals Project, RPM, Korbel, Train and Stoney. It operates in one segment which is exploration of minerals and two geographical areas, being Australia and United States, where Australia derives maximum revenue. | $1 | +111% | $229M | $191M | — | (24.8x) | ||
| Challenger Gold Ltd is engaged in the exploration and evaluation of gold and copper. It has operations in Australia, Ecuador, and Argentina. It derives a majority of its revenue from its operations in Australia. The company's projects are; Hualilan Gold, El Guaybo, El Guayabo Copper-Gold Tenement, Colorado V Copper-Gold Tenement, El Guayabo 2, and Cerro Pelado 1, 2, and 3 Tenements. | $0 | +51% | $227M | $216M | — | — | ||
| Toubani Resources Ltd is a Canada-based gold exploration and development company. Its segment consists of the acquisition, exploration, and development of precious and base metal mineral resources properties located in Western Africa. The company's portfolio includes the Kobada gold project which is a stage gold development project located in Mali. | $0 | +61% | $221M | $220M | — | — | ||
| Red Hill Minerals Ltd is an exploration company that focuses on the exploration of non-ferrous minerals over the RHIOJV tenements in the Western Pilbara region of Western Australia. Exploration targets include precious (gold) and battery metals. The company is also progressing the development of its Pannawonica Channel Iron Deposits (CID) and rock quarrying opportunities from its Three Peaks project. Its projects portfolio includes Red Hill Minerals West Pilbara Project, Mineral Resources Ltd Ashburton Hub - Royalty, Pannawonica Iron Ore, and Three Peaks Hard Rock Deposit. | $3 | +45% | $220M | $176M | — | — | ||
| Beacon Minerals Ltd is a minerals exploration and development company based in Australia. The company is focused on the development of Jaurdi Gold Project and Macphersons project Australia. It generates a majority of its revenue from Gold. The Group has one operating segment, which involves the exploration and development of minerals in Australia. | $2 | +130% | $209M | $190M | 2.9x | 20.7x | ||
| Canyon Resources Ltd is an bauxite resource development and exploration focused on expediting the development of the very high grade Minim Martap Bauxite project in central Cameroon. The company's mineral exploration projects in Burkina Faso cover areas that includes the Tao project, the Pinarello project, Taparko North Project, Derosa Project, Konkolikan Project, the Minim Martap project, and the Birsok project. | $0 | -43% | $207M | $191M | — | — | ||
| Tribune Resources Ltd develops and produces mineral properties in Australia. It explores for gold deposits. The company focuses on the East Kundana and West Kundana joint ventures tenements. Its projects are the Diwalwal Gold Project, Seven Mile Hill, and Japa Gold Project. | $4 | +15% | $207M | $198M | 1.7x | 3.6x | ||
| Gorilla Gold Mines Ltd is a gold explorer based in Western Australia focussed on the exploration upside of under-explored mining projects close to existing infrastructure. The projects of the company include Comet Vale, Vivien Gold, Mulwarrie, Yalgoo-Lang well, Labyrinth Gold, Denain Exploration , and others. | $0 | -13% | $202M | $176M | — | — | ||
| Tungsten Mining NL is engaged in mineral exploration. The company is focused on the exploration and development of tungsten projects in Australia. Its projects include Mt Mulgine, Watershed, Kilba, Hatches Creek and Mineral Resources. | $0 | +222% | $200M | $195M | — | — | ||
| Saturn Metals Ltd is an Australian-based mineral exploration company. It focuses on gold exploration. The company's project includes the Apollo Hill Project and the West Wyalong project. Its only operating segment is an exploration for precious metals at its tenement package, south of Leonora, Western Australia. | $0 | +139% | $200M | $158M | — | — | ||
| Median | $1 | +63% | $560M | $532M | 4.5x | 6.5x |
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