VAULT MINERALS LIMITED (VAU)
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VAU

VAU - VAULT MINERALS LIMITED

FNArena Sector : Gold & Silver
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 1.07
Index: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.42

01 Jul
2025

0.000

OPEN

$0.43

0.000

HIGH

$0.43

25,865,677

LOW

$0.42

TARGET
$0.575 36.9% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
VAU: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx - 0.2 3.6 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 11.7 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 201920202021202220232024
EPS Basic -0.30.3-2.1-2.1-0.3-0.2
DPS All 0.00.00.00.00.00.0
Sales/Revenue 156.3 M215.9 M189.7 M162.9 M422.7 M620.0 M
Book Value Per Share 6.59.910.07.810.323.8
Net Operating Cash Flow 22.3 M50.3 M14.2 M-5.1 M34.6 M196.8 M
Net Profit Margin -2.05 %2.06 %-4.83 %-29.82 %-2.07 %-0.88 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed -3.81 %3.15 %-4.21 %-23.27 %-3.40 %-0.56 %
Return on Invested Capital -3.76 %3.09 %-4.10 %-14.75 %-1.91 %-0.50 %
Return on Assets -1.83 %1.71 %-2.66 %-10.53 %-1.40 %-0.38 %
Return on Equity -3.81 %3.15 %-4.21 %-23.27 %-3.40 %-0.56 %
Return on Total Capital -4.43 %22.42 %1.66 %-14.46 %2.26 %4.82 %
Free Cash Flow ex dividends -26.0 M23.3 M-95.5 M-182.7 M-90.6 M91.5 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 201920202021202220232024
Short-Term Debt 11 M18 M4 M38 M40 M130 M
Long Term Debt 1 M5 M7 M234 M169 M77 M
Total Debt 12 M23 M10 M272 M209 M208 M
Goodwill - Gross ------
Cash & Equivalents - Generic 11 M116 M17 M40 M28 M436 M
Price To Book Value 2.691.961.903.221.851.51

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex 53.6 M48.7 M117.3 M181.6 M126.2 M108.3 M
Capex % of Sales 34.27 %22.57 %61.82 %111.46 %29.84 %17.47 %
Cost of Goods Sold 153 M172 M177 M200 M404 M541 M
Selling, General & Admin. Exp & Other 8 M9 M9 M13 M8 M22 M
Research & Development ------
Investments - Total 0 M0 M0 M0 M0 M2 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

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

28/05/2025

1

Buy

$0.58

38.10%

Ord Minnett reiterates a Buy rating on Vault Minerals with a target price of 58c, down from 60c. It's felt the current multiple discount should unwind on forthcoming organic newsflow, potential capital returns, and as investors focus on FY27 free cash flow (FCF).

Management plans to expand processing capacity at the KoTH operations to 7.5mtpa by late-2Q FY27, highlights the broker, which is expected to lift average production to approximately 215koz annually over the next five years.

Further upside to production forecasts may come from higher-grade ore sources, observes the analyst, with underground reserves at KoTH and Darlot due to be updated in 1Q FY26, along with other targets such as Severn and Rainbow.

FORECAST
Ord Minnett forecasts a full year FY25 dividend of 0.00 cents and EPS of 4.00 cents.
Ord Minnett forecasts a full year FY26 dividend of 0.00 cents and EPS of 5.70 cents.
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

4

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

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Jarden

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Moelis

28/05/2025

1

Buy

$0.70

66.67%

Vault Minerals has upgraded reserves at King of the Hills --shortcut KOTH-- by a third to 2.2Moz, backing a two-stage plant expansion to 7.5Mtpa at a combined cost of -$172m. The mine life now runs to FY38, with production averaging 215koz/year for the next five years.

Moelis leaves its $0.70 price target unchanged but flags this as a significant shift in the project’s economics. Lower cut-off grades, higher throughput, and gold price assumptions (to $3,750/oz from $2,900) all underpin the new plan, but also introduce more moving parts.

Stage 1 is already under way; Stage 2 follows by end 2026. Moelis believes funding won’t be an issue and notes management's execution track record is solid.

Key risk: plant capacity rises while gold prices fall, leaving a mismatch. Moelis sees that risk as manageable given flexibility in the mine plan.

Buy rating retained, though the broker highlights more detail will be needed to fully understand the impact on margins and valuation metrics. Target has lifted by 2c to 70c.

FORECAST
Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of 3.30 cents.
Moelis forecasts a full year FY26 dividend of 0.60 cents and EPS of 3.80 cents.

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Extra Coverage Research History >

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