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Sultan Resources

CHIA:SLZ
Snowflake Description

Flawless balance sheet and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SLZ
CHIA
A$4M
Market Cap
  1. Home
  2. AU
  3. Materials
Company description

Sultan Resources Limited explores for and develops mineral properties in Western Australia. The last earnings update was 28 days ago. More info.


Add to Portfolio Compare Print
  • Sultan Resources has significant price volatility in the past 3 months.
SLZ Share Price and Events
7 Day Returns
0%
CHIA:SLZ
5.6%
AU Metals and Mining
-0.3%
AU Market
1 Year Returns
-
CHIA:SLZ
-16.2%
AU Metals and Mining
-17.5%
AU Market
SLZ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Sultan Resources (SLZ) 0% 0% - - - -
AU Metals and Mining 5.6% 6.9% -19.1% -16.2% 13.5% 31.6%
AU Market -0.3% -9.4% -24.9% -17.5% -15.5% -14.7%
1 Year Return vs Industry and Market
  • No trading data on SLZ.
  • No trading data on SLZ.
Price Volatility
Industry
5yr Volatility vs Market

SLZ Value

 Is Sultan Resources undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
  • It is not possible to calculate the future cash flow value for Sultan Resources. This is due to cash flow or dividend data being unavailable. The share price is A$0.071.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Sultan Resources's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Sultan Resources's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
CHIA:SLZ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in AUD A$-0.01
ASX:SLZ Share Price ** ASX (2020-03-06) in AUD A$0.08
Australia Metals and Mining Industry PE Ratio Median Figure of 76 Publicly-Listed Metals and Mining Companies 8.46x
Australia Market PE Ratio Median Figure of 515 Publicly-Listed Companies 13.52x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Sultan Resources.

CHIA:SLZ PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:SLZ Share Price ÷ EPS (both in AUD)

= 0.08 ÷ -0.01

-6.62x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sultan Resources is loss making, we can't compare its value to the AU Metals and Mining industry average.
  • Sultan Resources is loss making, we can't compare the value of its earnings to the Australia market.
Price based on expected Growth
Does Sultan Resources's expected growth come at a high price?
Raw Data
CHIA:SLZ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -6.62x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Australia Metals and Mining Industry PEG Ratio Median Figure of 41 Publicly-Listed Metals and Mining Companies 0.36x
Australia Market PEG Ratio Median Figure of 337 Publicly-Listed Companies 1.04x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Sultan Resources, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Sultan Resources's assets?
Raw Data
CHIA:SLZ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in AUD A$0.08
ASX:SLZ Share Price * ASX (2020-03-06) in AUD A$0.08
Australia Metals and Mining Industry PB Ratio Median Figure of 555 Publicly-Listed Metals and Mining Companies 1.09x
Australia Market PB Ratio Median Figure of 1,614 Publicly-Listed Companies 1.32x
CHIA:SLZ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:SLZ Share Price ÷ Book Value per Share (both in AUD)

= 0.08 ÷ 0.08

0.9x

* Primary Listing of Sultan Resources.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sultan Resources is good value based on assets compared to the AU Metals and Mining industry average.
X
Value checks
We assess Sultan Resources's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. Sultan Resources has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

SLZ Future Performance

 How is Sultan Resources expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Sultan Resources has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
0.1%
Expected Metals and Mining industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Sultan Resources expected to grow at an attractive rate?
  • Unable to compare Sultan Resources's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Sultan Resources's earnings growth to the Australia market average as no estimate data is available.
  • Unable to compare Sultan Resources's revenue growth to the Australia market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
CHIA:SLZ Future Growth Rates Data Sources
Data Point Source Value (per year)
Australia Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 0.1%
Australia Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 1%
Australia Market Earnings Growth Rate Market Cap Weighted Average 10.5%
Australia Market Revenue Growth Rate Market Cap Weighted Average 4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
CHIA:SLZ Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
CHIA:SLZ Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2019-12-31 -1 -1
2019-09-30 -1 -1
2019-06-30 -1 -1
2018-06-30 0 0

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Sultan Resources is high growth as no earnings estimate data is available.
  • Unable to determine if Sultan Resources is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
CHIA:SLZ Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Sultan Resources Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CHIA:SLZ Past Financials Data
Date (Data in AUD Millions) EPS *
2019-12-31 -0.01
2019-09-30 -0.02
2019-06-30 -0.03
2018-06-30 -0.27

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Sultan Resources will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine Sultan Resources's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  2. Sultan Resources's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Materials companies here
  3. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Sultan Resources's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Australia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Australia market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Sultan Resources has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

SLZ Past Performance

  How has Sultan Resources performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Sultan Resources's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Sultan Resources does not make a profit and there is insufficient past data to establish if their 5 year on year earnings growth rate was positive.
  • Unable to compare Sultan Resources's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Sultan Resources's 1-year growth to the AU Metals and Mining industry average as it is not currently profitable.
Earnings and Revenue History
Sultan Resources's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Sultan Resources Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CHIA:SLZ Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 -0.50 0.48
2019-09-30 -0.67 0.63
2019-06-30 -0.85 0.78
2018-06-30 -0.35 0.22

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Sultan Resources has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Sultan Resources has efficiently used its assets last year compared to the AU Metals and Mining industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Sultan Resources improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Sultan Resources's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Sultan Resources has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

SLZ Health

 How is Sultan Resources's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Sultan Resources's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Sultan Resources is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Sultan Resources has no long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Sultan Resources's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Sultan Resources has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Sultan Resources Company Filings, last reported 3 months ago.

CHIA:SLZ Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 3.95 0.00 2.71
2019-09-30 3.95 0.00 2.71
2019-06-30 4.21 0.00 3.06
2018-06-30 0.20 0.00 0.11
  • Sultan Resources has no debt.
  • Sultan Resources has not taken on any debt in the past 5 years.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Sultan Resources has sufficient cash runway for more than 3 years based on current free cash flow.
  • Sultan Resources has sufficient cash runway for 2.9 years if free cash flow continues to grow at historical rates of 35.4% each year.
X
Financial health checks
We assess Sultan Resources's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Sultan Resources has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

SLZ Dividends

 What is Sultan Resources's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Sultan Resources dividends.
If you bought A$2,000 of Sultan Resources shares you are expected to receive A$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Sultan Resources's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Sultan Resources's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
CHIA:SLZ Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Australia Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 39 Stocks 5.6%
Australia Market Average Dividend Yield Market Cap Weighted Average of 365 Stocks 5.3%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.6%
Australia Bottom 25% Dividend Yield 25th Percentile 3%
Australia Top 25% Dividend Yield 75th Percentile 7.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Sultan Resources has not reported any payouts.
  • Unable to verify if Sultan Resources's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Sultan Resources's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Sultan Resources has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Sultan Resources's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Sultan Resources afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Sultan Resources has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

SLZ Management

 What is the CEO of Sultan Resources's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Steve Groves
COMPENSATION A$154,264
TENURE AS CEO 1.9 years
CEO Bio

Mr. Steven Russell Groves, also known as Steve, has been Managing Director and Director at Sultan Resources Limited since May 29, 2018. Mr. Groves served as General Manager of Exploration at A-Cap Energy Limited'(formerly known as A-Cap Resources Limited). Mr. Groves has over many years of geological experience in the mining industry including exploration and management roles with BHP Billiton, Newmont Mining and Newcrest Mining Limited. Mr. Groves was based in Botswana for six years where he led several geological teams in his roles as Exploration Manager intermittently with A-Cap Resources Limited and BML. Mr. Groves has been a Non-Executive Director of Six Sigma Metals Limited (also known as Botswana Metals Limited) since November 27, 2017. He is a member of the Australian Institute of Geoscientists. Mr. Groves holds a Bachelor of Applied Geology (Honours) and completed a Master's of Economic Geology at the University of Tasmania.

CEO Compensation
  • Steve's compensation has increased whilst company is loss making.
  • Steve's remuneration is lower than average for companies of similar size in Australia.
Management Team

Steve Groves

TITLE
MD & Director
COMPENSATION
A$154K
TENURE
1.9 yrs

Mauro Piccini

TITLE
Company Secretary
TENURE
2.1 yrs
Board of Directors Tenure

Average tenure of the Sultan Resources board of directors in years:

1.9
Average Tenure
  • The average tenure for the Sultan Resources board of directors is less than 3 years, this suggests a new board.
Board of Directors

Jeremy King

TITLE
Non Executive Chairman
COMPENSATION
A$64K
AGE
44
TENURE
2 yrs

Steve Groves

TITLE
MD & Director
COMPENSATION
A$154K
TENURE
1.9 yrs

David Lees

TITLE
Non-Executive Director
COMPENSATION
A$14K
TENURE
1.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
17. Sep 19 Buy David Lees Individual 24. May 19 24. May 19 26,868 A$0.05 A$1,344
X
Management checks
We assess Sultan Resources's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Sultan Resources has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

SLZ News

Simply Wall St News

SLZ Company Info

Description

Sultan Resources Limited explores for and develops mineral properties in Western Australia. It primarily explores for gold, copper, nickel, and cobalt deposits. The company’s principal projects include the Thaduna project located to the northeast of Meekatharra; the Lake Grace project located to the southeast of Perth, Western Australia; the East Tallering project located to the east of Geraldton; and the Dalwallinu project located to the northeast of Perth, Western Australia. Sultan Resources Limited was incorporated in 2018 and is based in West Perth, Australia.

Details
Name: Sultan Resources Limited
SLZ
Exchange: CHIA
Founded: 2018
A$3,571,897
47,625,300
Website: http://www.sultanresources.com.au
Address: Sultan Resources Limited
1 Altona Street,
Suite 2,
West Perth,
Western Australia, 6005,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX SLZ Ordinary Shares Australian Securities Exchange AU AUD 16. Aug 2018
CHIA SLZ Ordinary Shares Chi-X Australia AU AUD 16. Aug 2018
Number of employees
Current staff
Staff numbers
0
Sultan Resources employees.
Industry
Diversified Metals and Mining
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/09 11:03
End of day share price update: 2020/03/06 00:00
Last earnings filing: 2020/03/12
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.