TORQUE METALS LIMITED (TOR)
Share Price Analysis and Chart

13/03/2026

1

Speculative Buy

$0.90

109.30%

Torque Metals has appointed the former Spartan Resources leadership team to drive growth at the 250koz Paris Gold Project, observes Morgans.

Incoming executives Simon Lawson, Craig Jones and David Coyne previously expanded the Never Never and Pepper deposits to 2.37moz gold before a $2.5bn takeover by Ramelius Resources ((RMS)), explains the broker.

There has been a $3m placement to the new management team at 27c per share, lifting pro-forma cash to $19m to support exploration.

The broker considers the experienced team and recent high-grade intercepts could support expansion of the 250koz resource. Speculative Buy rating retained and target increased to 90c from 80c.

FORECAST
Morgans forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -1.00 cents.
Morgans forecasts a full year FY27 dividend of 0.00 cents and EPS of 28.00 cents.

17/03/2026

1

Speculative Buy

$0.55

27.91%

Torque Metals has appointed a Western Australian gold exploration and development team for the next phase of growth at the Paris gold project, south Kalgoorlie. The group previously led Spartan Resources, which merged with Ramelius Resources ((RMS)).

As part of the leadership transition, Craig Jones will assume the CEO role immediately and become managing director following shareholder approval.

A new technical team has begun reviewing historical exploration data with the intention of accelerating exploration and drilling in 2026.

Canaccord Genuity envisages potential for more than 1.6m ounces to be defined across the project over time and its Speculative Buy rating and $0.55 target are maintained.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -0.01 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -0.01 cents.