New Risk • Mar 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$135.6m (US$95.4m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (AU$135.6m market cap, or US$95.4m). Reported Earnings • Feb 18
First half 2026 earnings released: EPS: AU$0.046 (vs AU$0.028 in 1H 2025) First half 2026 results: EPS: AU$0.046 (up from AU$0.028 in 1H 2025). Revenue: AU$287.2m (up 5.3% from 1H 2025). Net income: AU$7.08m (up 73% from 1H 2025). Profit margin: 2.5% (up from 1.5% in 1H 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Metals and Mining industry in Australia. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Price Target Changed • Feb 18
Price target increased by 20% to AU$1.20 Up from AU$1.00, the current price target is provided by 1 analyst. New target price is 12% above last closing price of AU$1.07. Stock is up 78% over the past year. The company is forecast to post earnings per share of AU$0.12 for next year compared to AU$0.082 last year. Announcement • Feb 17
MLG Oz Limited Declares Fully Franked, Interim Dividend for the Six Months Ended December 31, 2025, Payable on April 17, 2026 The Directors of MLG Oz Limited have declared a fully franked, interim dividend of 1.25 cents per share for the six months ended December 31, 2025. Payment Date is April 17, 2026. Ex Date is February 20, 2026. Record Date is February 23, 2026. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to AU$1.05, the stock trades at a forward P/E ratio of 9x. Average trailing P/E is 22x in the Metals and Mining industry in Australia. Total returns to shareholders of 119% over the past three years. Announcement • Oct 01
MLG Oz Limited, Annual General Meeting, Nov 26, 2025 MLG Oz Limited, Annual General Meeting, Nov 26, 2025. Price Target Changed • Aug 21
Price target increased by 11% to AU$1.00 Up from AU$0.90, the current price target is provided by 1 analyst. New target price is 23% above last closing price of AU$0.81. Stock is up 17% over the past year. The company is forecast to post earnings per share of AU$0.12 for next year compared to AU$0.082 last year. Reported Earnings • Aug 20
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: AU$0.08 (up from AU$0.075 in FY 2024). Revenue: AU$548.3m (up 16% from FY 2024). Net income: AU$12.1m (up 11% from FY 2024). Profit margin: 2.2% (down from 2.3% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 6.3% p.a. on average during the next 2 years, compared to a 5.1% growth forecast for the Metals and Mining industry in Australia. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Mar 27
Non-Executive Director recently bought AU$127k worth of stock On the 24th of March, Simon Price bought around 200k shares on-market at roughly AU$0.63 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Announcement • Mar 24
MLG Oz Limited Announces the Appointment of Mr. Simon Price as Non-Executive Director MLG Oz Limited announce the appointment of Mr. Simon Price as Non-Executive Director, effective March 23, 2025. Simon is the Deputy Chair and one of the founders of Azure Capital, a boutique corporate advisory firm that specialises in mergers and acquisitions and capital markets transactions. Simon has played a key leadership role in Azure's growth from its Western Australian origins to becoming a national firm with a strong reputation in the small cap and mining sectors. Simon is also a director of Thinktank Group, a fast growing non-bank financial institution and a past member of several not for profit boards. His skills in growing businesses, corporate finance and investment, mergers and acquisitions and capital markets will complement the existing strengths on the MLG board. Major Estimate Revision • Feb 25
Consensus revenue estimates increase by 10% The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from AU$505.6m to AU$557.0m. EPS estimate unchanged from AU$0.08 at last update. Metals and Mining industry in Australia expected to see average net income growth of 29% next year. Consensus price target down from AU$0.95 to AU$0.90. Share price fell 10% to AU$0.56 over the past week. Reported Earnings • Feb 19
First half 2025 earnings released: EPS: AU$0.028 (vs AU$0.049 in 1H 2024) First half 2025 results: EPS: AU$0.028 (down from AU$0.049 in 1H 2024). Revenue: AU$272.9m (up 21% from 1H 2024). Net income: AU$4.08m (down 43% from 1H 2024). Profit margin: 1.5% (down from 3.1% in 1H 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Metals and Mining industry in Australia. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Sep 11
MLG Oz Limited, Annual General Meeting, Nov 06, 2024 MLG Oz Limited, Annual General Meeting, Nov 06, 2024. New Risk • Aug 26
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 47% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (47% net debt to equity). Market cap is less than US$100m (AU$102.6m market cap, or US$69.7m). Reported Earnings • Aug 22
Full year 2024 earnings released: EPS: AU$0.07 (vs AU$0.006 in FY 2023) Full year 2024 results: EPS: AU$0.07 (up from AU$0.006 in FY 2023). Revenue: AU$474.8m (up 24% from FY 2023). Net income: AU$11.0m (up AU$10.1m from FY 2023). Profit margin: 2.3% (up from 0.2% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Metals and Mining industry in Australia. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. New Risk • Aug 19
New major risk - Revenue and earnings growth Earnings have declined by 34% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 34% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (AU$108.5m market cap, or US$72.6m). Buy Or Sell Opportunity • Aug 05
Now 26% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.5% to AU$0.65. The fair value is estimated to be AU$0.87, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has declined by 56%. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to grow by 295% in the next 2 years. Buy Or Sell Opportunity • Apr 15
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.8% to AU$0.59. The fair value is estimated to be AU$0.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has declined by 56%. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to grow by 295% in the next 2 years. Board Change • Apr 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. Independent Non-Executive Director Garret Dixon was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • Mar 04
Now 26% undervalued Over the last 90 days, the stock has risen 15% to AU$0.60. The fair value is estimated to be AU$0.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has declined by 56%. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to grow by 295% in the next 2 years. Major Estimate Revision • Feb 21
Consensus EPS estimates increase by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from AU$434.6m to AU$445.2m. EPS estimate increased from AU$0.086 to AU$0.10 per share. Net income forecast to grow 233% next year vs 17% growth forecast for Metals and Mining industry in Australia. Consensus price target up from AU$0.98 to AU$1.05. Share price rose 13% to AU$0.65 over the past week. Reported Earnings • Feb 21
First half 2024 earnings released: EPS: AU$0.049 (vs AU$0.018 in 1H 2023) First half 2024 results: EPS: AU$0.049 (up from AU$0.018 in 1H 2023). Revenue: AU$226.4m (up 29% from 1H 2023). Net income: AU$7.12m (up 174% from 1H 2023). Profit margin: 3.1% (up from 1.5% in 1H 2023). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to remain flat. Announcement • Sep 23
MLG Oz Limited, Annual General Meeting, Nov 01, 2023 MLG Oz Limited, Annual General Meeting, Nov 01, 2023, at 14:00 W. Australia Standard Time. Agenda: To consider and approve remuneration report; to consider re-election of directors; to consider and approve of 10% placement facility; and to consider and approve of issue of performance rights. Reported Earnings • Aug 23
Full year 2023 earnings released Full year 2023 results: Revenue: AU$383.8m (up 33% from FY 2022). Net income: AU$809.7k (down 83% from FY 2022). Profit margin: 0.2% (down from 1.7% in FY 2022). Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Metals and Mining industry in Australia. Price Target Changed • Jun 29
Price target increased by 12% to AU$1.01 Up from AU$0.90, the current price target is provided by 1 analyst. New target price is 71% above last closing price of AU$0.59. Stock is up 31% over the past year. The company is forecast to post earnings per share of AU$0.055 for next year compared to AU$0.033 last year. Reported Earnings • Feb 28
First half 2023 earnings released: EPS: AU$0.018 (vs AU$0.013 in 1H 2022) First half 2023 results: EPS: AU$0.018 (up from AU$0.013 in 1H 2022). Revenue: AU$175.9m (up 24% from 1H 2022). Net income: AU$2.60m (up 41% from 1H 2022). Profit margin: 1.5% (up from 1.3% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to remain flat. Announcement • Nov 16
MLG Oz Limited Announces Executive Changes MLG Oz Limited advised that joint Company Secretary Mr. Dennis Wilkins has resigned as Company Secretary. Mr. Philip Mirams Chief Financial Officer will continue as Company Secretary. Price Target Changed • Nov 16
Price target decreased to AU$0.90 Down from AU$1.04, the current price target is provided by 1 analyst. New target price is 82% above last closing price of AU$0.49. Stock is down 44% over the past year. The company is forecast to post earnings per share of AU$0.07 for next year compared to AU$0.033 last year. Announcement • Sep 02
MLG Secures Long Term Contract with Westgold Resources MLG Oz Limited announced that it has been awarded a material 5 year contract by Western Australian gold miner Westgold Resources Limited (Westgold). The contract will service Westgold's operational hubs across the Murchison and Bryah Basin regions and leverages MLG's integrated support model. The contract focusses on enhancing Westgold's operating efficiencies, consolidates MLG's resources in the Mid-West region and represents a material win for MLG. Westgold is a major Mid-West miner and owns and operates the Tuckabianna, Bluebird and Fortnum processing hubs across the Murchison and Bryah Basin regions of Western Australia. Westgold's objective is to leverage MLG's existing fleet capacity to enhance operational efficiencies by utilising MLG's latest road haulage technical advancements. Westgold to provide dedicated maintenance facilities at each of their sites to support MLG operations. Scope of services includes the delivery of in pit, off and on-road haulage, road maintenance and run of mine (ROM) management services activities across all of Westgold's operations. Initial ramp up and mobilisation activities to commence in October 2022 Anticipated annual revenues of circa $40 million with revenue to build from December 2022. Contract expected to contribute approximately $30 million in revenue in Fiscal 2023. Reported Earnings • Aug 26
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: AU$0.033 (down from AU$0.12 in FY 2021). Revenue: AU$289.8m (up 12% from FY 2021). Net income: AU$4.81m (down 61% from FY 2021). Profit margin: 1.7% (down from 4.8% in FY 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 12%, compared to a 85,782% growth forecast for the Metals and Mining industry in Australia. Announcement • Aug 25
MLG Oz Limited, Annual General Meeting, Nov 02, 2022 MLG Oz Limited, Annual General Meeting, Nov 02, 2022. Agenda: Annual general meeting. Buying Opportunity • Aug 10
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 6.3%. The fair value is estimated to be AU$0.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last year. Earnings per share has declined by 40%. Revenue is forecast to grow by 20% in 2 years. Earnings is forecast to grow by 53% in the next 2 years. Buying Opportunity • Jun 30
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 38%. The fair value is estimated to be AU$0.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last year. Earnings per share has declined by 40%. Revenue is forecast to grow by 20% in 2 years. Earnings is forecast to grow by 53% in the next 2 years. Buying Opportunity • May 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 29%. The fair value is estimated to be AU$0.73, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last year. Earnings per share has declined by 40%. Revenue is forecast to grow by 18% in 2 years. Earnings is forecast to grow by 97% in the next 2 years. Recent Insider Transactions • May 19
Founder recently bought AU$99k worth of stock On the 13th of May, Murray Leahy bought around 155k shares on-market at roughly AU$0.64 per share. In the last 3 months, they made an even bigger purchase worth AU$200k. Murray has been a buyer over the last 12 months, purchasing a net total of AU$769k worth in shares. Recent Insider Transactions • Apr 30
Founder recently bought AU$103k worth of stock On the 28th of April, Murray Leahy bought around 150k shares on-market at roughly AU$0.69 per share. In the last 3 months, they made an even bigger purchase worth AU$200k. Murray has been a buyer over the last 12 months, purchasing a net total of AU$670k worth in shares. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Recent Insider Transactions • Mar 05
Founder recently bought AU$200k worth of stock On the 28th of February, Murray Leahy bought around 258k shares on-market at roughly AU$0.78 per share. In the last 3 months, they made an even bigger purchase worth AU$302k. Murray has been a buyer over the last 12 months, purchasing a net total of AU$567k worth in shares. Major Estimate Revision • Mar 01
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from AU$270.4m to AU$290.9m. EPS estimate fell from AU$0.09 to AU$0.04 per share. Net income forecast to grow 34% next year vs 27% growth forecast for Metals and Mining industry in Australia. Consensus price target down from AU$1.04 to AU$0.95. Share price fell 6.5% to AU$0.72 over the past week. Buying Opportunity • Feb 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be AU$0.93, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last year. Earnings per share has declined by 40% over the last year. Buying Opportunity • Jan 25
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 9.9%. The fair value is estimated to be AU$1.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% per annum over the last 3 years. Earnings per share has grown by 101% over the last year. Recent Insider Transactions • Dec 26
Founder recently bought AU$302k worth of stock On the 20th of December, Murray Leahy bought around 337k shares on-market at roughly AU$0.90 per share. This was the largest purchase by an insider in the last 3 months. Murray has been a buyer over the last 12 months, purchasing a net total of AU$367k worth in shares. Reported Earnings • Oct 04
Full year 2021 earnings released: EPS AU$0.12 (vs AU$0.059 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: AU$257.8m (up 24% from FY 2020). Net income: AU$12.5m (up 119% from FY 2020). Profit margin: 4.8% (up from 2.7% in FY 2020). The increase in margin was driven by higher revenue. Reported Earnings • Aug 27
Full year 2021 earnings released: EPS AU$0.12 The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: AU$257.8m (up 24% from FY 2020). Net income: AU$12.5m (up 119% from FY 2020). Profit margin: 4.8% (up from 2.7% in FY 2020). The increase in margin was driven by higher revenue. Recent Insider Transactions • Jun 16
Founder recently bought AU$65k worth of stock On the 8th of June, Murray Leahy bought around 65k shares on-market at roughly AU$1.00 per share. This was the largest purchase by an insider in the last 3 months. This was Murray's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment deteriorated over the past week After last week's 16% share price decline to AU$1.08, the stock trades at a trailing P/E ratio of 11.6x. Average trailing P/E is 13x in the Metals and Mining industry in Australia. Announcement • May 06
MLG Oz Limited Provides Earnings Guidance for the Six Months Ended 30 June 2021 MLG Oz Limited provided earnings guidance for the six months ended 30 June 2021. For the six months, the company expects revenue of $241.6 million.