Golden Deeps Limited

GED.AX

Industrial Materials · Basic Materials

Price

A$0.06

+0.00 (+1.69%)

Market Cap

A$13.7M

Exchange

Australian Securities Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Based on the IPO prospectus (annual filing). This score will refine automatically once the company reports its first quarters.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Mixed

Growth

Weak

Cash Flow

Weak

Stability

Good

Valuation

Data not available

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Share count rising — dilution

+136.4% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 64.1M (2021) → 151.6M (2025)

Winston Score History

The full picture

Golden Deeps Limited is a small Australian mineral exploration company. It searches for valuable metals and minerals underground, with a focus on zinc, lead, and silver deposits. The company operates exploration projects primarily in Namibia, Africa, targeting undeveloped mineral resources that could one day be mined and sold to industrial buyers.

Golden Deeps makes very little revenue today because it is still in the exploration stage — it has not yet built any mines or started selling ore. The company funds its work by raising money from investors through share issuances rather than from product sales, which explains why its operating losses are extremely large relative to any income. Its main competitive challenge is proving that its mineral deposits are large enough and rich enough to attract a mining partner or buyer. The biggest risk is that exploration is expensive and uncertain, and there is no guarantee the company will ever find a commercially viable deposit.

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

-38.6% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+21.2% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

A$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

34.0%ownership

Insiders own a meaningful stake in the company

Cash Runway

~11 months

A$3M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Cash watch

Golden Deeps 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.

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Quality

Profit per sale

Gross Margin

100.0%

Premium pricing power — 100.0% gross margin

Profit after running costs

Operating Margin

-432.6%

Losing money on operations — -432.6%

Return on the money invested

ROCE

-5.4%

Weak — -5.4% 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

-21.8%

Shrinking sales (-21.8% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

N/A

Data not available

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-1561.2%

Burning cash (-1561.2%)

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

0.00

Conservative — low debt load (0.00)

Covers its interest

Interest Cover

N/A

—

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

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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