MEEKA METALS LIMITED (MEK)
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MEK

MEK - MEEKA METALS LIMITED

FNArena Sector : Gold & Silver
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: -0.56
Index: ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.185

28 Oct
2025

-0.010

OPEN

$0.18

-5.13%

HIGH

$0.19

25,750,341

LOW

$0.18

TARGET
$0.33 78.4% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
MEK: 1
Title FY24
Actual
FY25
Actual
FY26
Forecast
FY27
Forecast
EPS (cps) xxx - 0.2 5.6 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 3.6 xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: N/A

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

N/A

Estimated Dividend Growth
(Average Of Past Three Years)

Amount Invested

Tell Me The Dividend After This Many Years

Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx-0.2
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx0.0 M
Book Value Per Share xxxxxxxxxxxxxxx5.2
Net Operating Cash Flow xxxxxxxxxxxxxxx-4.5 M
Net Profit Margin xxxxxxxxxxxxxxx-

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx-4.73 %
Return on Invested Capital xxxxxxxxxxxxxxx-4.68 %
Return on Assets xxxxxxxxxxxxxxx-3.93 %
Return on Equity xxxxxxxxxxxxxxx-4.73 %
Return on Total Capital xxxxxxxxxxxxxxx-4.19 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-71.6 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx1 M
Long Term Debt xxxxxxxxxxxxxxx2 M
Total Debt xxxxxxxxxxxxxxx2 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx56 M
Price To Book Value xxxxxxxxxxxxxxx2.79

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx67.2 M
Capex % of Sales xxxxxxxxxxxxxxx-
Cost of Goods Sold xxxxxxxxxxxxxxx0 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx4 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

1
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

28/10/2025

1

Buy

$0.33

78.38%

Morgans upgrades Meeka Metals to a Buy from Speculative Buy with a higher target of 33c from 31c, post the first ever quarter of production since commissioning the Murchison Gold project.

Positively, Meeka generated positive free cash flow, and grade was 38% better than the feasibility study, with lower processing costs of -29%. The analyst points to better all-in-sustaining costs.

Morgans lifts its FY26 gold production to 50koz from 47koz previously, as grade performance is better, and continues to believe management can execute well.

FORECAST
Morgans forecasts a full year FY26 dividend of 0.00 cents and EPS of 5.60 cents.
Morgans forecasts a full year FY27 dividend of 0.00 cents and EPS of 5.10 cents.

EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Petra Capital

29/10/2025

1

Buy

$0.33

78.38%

Meeka Metals announced a robust maiden September quarter with production of 7,148oz at an AISC of $2,133/oz, outperforming feasibility expectations, Petra Capital highlights.

Commissioning of the 0.6Mtpa Andy Well processing plant was completed in June, with first gold poured in July and production set to rise in the December quarter.

An accelerated open-pit mining strategy has built a 178kt stockpile, de-risking the transition to underground operations and providing flexibility for a potential 1Mtpa plant expansion by end-2026.

Growth capex of $22m was directed toward Turnberry and Andy Well developments, while cash and gold increased to $59.3m despite heavy investment.

Buy rating maintained with the target price revised to 33c from 34c.

FORECAST
Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 5.50 cents.
Petra Capital forecasts a full year FY27 dividend of 0.00 cents and EPS of 6.20 cents.

MEK STOCK CHART