company background image
GSM

Golden State MiningASX:GSM Stock Report

Market Cap

AU$8.7m

7D

-2.2%

1Y

-56.9%

Updated

26 Oct, 2021

Data

Company Financials
GSM fundamental analysis
Snowflake Score
Valuation1/6
Future Growth0/6
Past Performance0/6
Financial Health6/6
Dividends0/6

GSM Overview

Golden State Mining Limited, through its subsidiaries, engages in the exploration, evaluation, and investment of mineral properties in Australia.

Price History & Performance

Summary of all time highs, changes and price drops for Golden State Mining
Historical stock prices
Current Share PriceAU$0.11
52 Week HighAU$0.10
52 Week LowAU$0.29
Beta0.97
1 Month Change-15.38%
3 Month Change-29.03%
1 Year Change-56.86%
3 Year Changen/a
5 Year Changen/a
Change since IPO-37.14%

Recent News & Updates

Shareholder Returns

GSMAU Metals and MiningAU Market
7D-2.2%-0.4%0.8%
1Y-56.9%15.6%24.4%

Return vs Industry: GSM underperformed the Australian Metals and Mining industry which returned 15.6% over the past year.

Return vs Market: GSM underperformed the Australian Market which returned 24.4% over the past year.

Price Volatility

Is GSM's price volatile compared to industry and market?
GSM volatility
GSM Beta0.97
Industry Beta0.97
Market Beta1

Stable Share Price: GSM is not significantly more volatile than the rest of Australian stocks over the past 3 months, typically moving +/- 11% a week.

Volatility Over Time: GSM's weekly volatility (11%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2017n/aMike Moorehttps://goldenstatemining.com.au

Golden State Mining Limited, through its subsidiaries, engages in the exploration, evaluation, and investment of mineral properties in Australia. The company explores for gold, base metal, and rare earth element deposits. It holds 100% interests in the Yule project, which comprise three granted exploration licenses and an exploration license application covering an area of 656 square kilometers located in the northern Pilbara region of Western Australia; the Murchison project that includes three tenements comprising Cuddingwarra, Big Bell South, and Cue covering an area of 425 square kilometers situated to the northeast of Perth; and the Four Mile Well project that consists of a single 38 block exploration license covering an area of 107.6 square kilometers situated in the Eastern Goldfields.

Golden State Mining Fundamentals Summary

How do Golden State Mining's earnings and revenue compare to its market cap?
GSM fundamental statistics
Market CapAU$8.72m
Earnings (TTM)-AU$3.14m
Revenue (TTM)AU$712.76k

12.8x

P/S Ratio

-2.9x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
GSM income statement (TTM)
RevenueAU$712.76k
Cost of RevenueAU$0
Gross ProfitAU$712.76k
ExpensesAU$3.85m
Earnings-AU$3.14m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)-0.038
Gross Margin100.00%
Net Profit Margin-440.51%
Debt/Equity Ratio0.0%

How did GSM perform over the long term?

See historical performance and comparison

Valuation

Is Golden State Mining undervalued compared to its fair value and its price relative to the market?

2.28x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate GSM's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate GSM's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: GSM is unprofitable, so we can't compare its PE Ratio to the Australian Metals and Mining industry average.

PE vs Market: GSM is unprofitable, so we can't compare its PE Ratio to the Australian market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate GSM's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: GSM is good value based on its PB Ratio (2.3x) compared to the AU Metals and Mining industry average (2.6x).


Future Growth

How is Golden State Mining forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

-0.5%

Forecasted Materials industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Golden State Mining has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Past Performance

How has Golden State Mining performed over the past 5 years?

-88.7%

Last years earnings growth


Earnings and Revenue History

Quality Earnings: GSM is currently unprofitable.

Growing Profit Margin: GSM is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if GSM's year-on-year earnings growth rate was positive over the past 5 years.

Accelerating Growth: Unable to compare GSM's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: GSM is unprofitable, making it difficult to compare its past year earnings growth to the Metals and Mining industry (35.3%).


Return on Equity

High ROE: GSM has a negative Return on Equity (-78.25%), as it is currently unprofitable.


Financial Health

How is Golden State Mining's financial position?


Financial Position Analysis

Short Term Liabilities: GSM's short term assets (A$4.4M) exceed its short term liabilities (A$303.8K).

Long Term Liabilities: GSM's short term assets (A$4.4M) exceed its long term liabilities (A$188.9K).


Debt to Equity History and Analysis

Debt Level: GSM is debt free.

Reducing Debt: GSM has not had any debt for past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: GSM has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: GSM has sufficient cash runway for 1.6 years if free cash flow continues to reduce at historical rates of 31.4% each year.


Dividend

What is Golden State Mining current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate GSM's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate GSM's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if GSM's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if GSM's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of GSM's dividend in 3 years as they are not forecast to pay a notable one for the Australian market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.8yrs

Average board tenure


CEO

Mike Moore

4.17yrs

Tenure

AU$367,915

Compensation

Mr. Michael James Moore, also known as Mike, B.Eng (Hons) Mining Eng., MAusIMM, Dip CSM, ACSM, MAICD serves as Managing Director of Golden State Mining Limited since August 15, 2017 and has been its Execut...


CEO Compensation Analysis

Compensation vs Market: Mike's total compensation ($USD275.80K) is about average for companies of similar size in the Australian market ($USD301.38K).

Compensation vs Earnings: Mike's compensation has increased whilst the company is unprofitable.


Board Members

Experienced Board: GSM's board of directors are considered experienced (3.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 46.7%.


Top Shareholders

Company Information

Golden State Mining Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Golden State Mining Limited
  • Ticker: GSM
  • Exchange: ASX
  • Founded: 2017
  • Industry: Diversified Metals and Mining
  • Sector: Materials
  • Market Cap: AU$8.724m
  • Shares outstanding: 83.09m
  • Website: https://goldenstatemining.com.au

Location

  • Golden State Mining Limited
  • 19-21, Outram Street
  • Suite 15
  • West Perth
  • Western Australia
  • 6005
  • Australia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/26 07:01
End of Day Share Price2021/10/26 00:00
Earnings2021/06/30
Annual Earnings2021/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.