Black Canyon Limited

BCA.AX

Industrial Materials · Basic Materials

Exchange

Australian Securities Exchange

Winston Score

–

No score yet — Winston is napping.

We couldn’t gather enough financial data to score this stock reliably.

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Winston Score History

The full picture

Black Canyon Limited is a small Australian mining exploration company focused on finding and developing mineral deposits. Its main focus has been on manganese, a metal used in steel production and increasingly in batteries for electric vehicles. The company operates exploration projects in Western Australia, targeting resources that could one day be sold to industrial and battery manufacturers.

Black Canyon does not yet produce or sell minerals at commercial scale, so it earns little to no revenue. Its high gross margin reflects minimal cost of goods, but its deeply negative operating margin shows it is spending far more on exploration and administration than it brings in — a typical profile for an early-stage explorer. The company is funded primarily through equity raises rather than operating cash flow. The key growth driver is successfully proving up a viable mineral resource and attracting a development partner or buyer, while the main risk is running out of cash before reaching that milestone.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-55.7% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+131.3% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

9.9%ownership

Insiders own a meaningful stake in the company

Cash Runway

~8 months

A$2M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Cash watch

Black Canyon Limited has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

N/A

Data not available

Profit after running costs

Operating Margin

N/A

Data not available

Return on the money invested

ROCE

-6.1%

Weak — -6.1% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-59.3%

Shrinking sales (-59.3% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-765.9%

Burning cash (-765.9%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

N/A

—

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/A

no trend

Data not available

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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