Minerals Exploration Limited (MEX) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Minerals Exploration Limited A$0.03, price A$0.06, upside -46.1%, quality 40 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
52‑month range A$0.0390 – A$0.2750 · fair‑value band A$0.0302 – A$0.0356 · the A$0.0560 price screens above the A$0.0302 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Minerals Exploration Limited, an exploration company, engages in the exploration and development of uranium, vanadium, lithium, and other mineral properties.
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Minerals Exploration Limited, an exploration company, engages in the exploration and development of uranium, vanadium, lithium, and other mineral properties. It holds 100% interest in the East Canyon project that comprises 231 contiguous claims, which covers an area of approximately 4,620 acres/18.7 square kilometers located in the Dry Valley/East Canyon mining district of south-eastern Utah, the United States; South Pass Wyoming Lithium Project in Wyoming, the United States; and the Frome Downs and Yankaninna projects in the South Australia. The company was formerly known as Uvre Limited and changed its name to Minerals Exploration Limited in November 2025. The company was incorporated in 2021 and is based in West Perth, Australia.
Stock analysis
Minerals Exploration Limited (MEX) currently trades at A$0.0560, while our model-based Fair Value estimate is A$0.0302, implying the stock looks roughly 85.4% overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 87/100, which puts the evidence level at low.
Scenario range: A$0.0302 (bear) to A$0.0356 (bull), the price of A$0.0560 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 40/100 (below-average quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Minerals Exploration Limited reported revenue of A$88.3K in FY2025 versus A$530 in FY2022, a compound +450.3%/yr. Reported net income was −A$1.4M in FY2025.
Key figures
Market cap A$11.3M (≈ $7.9M) · EPS (TTM) A$−0.0200 · Return on equity −18.2% · Return on assets (EBIT) −28.3% · Free cash flow −A$1.5M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).
What moves the price
The share trades about 80% below its 52-week high and 44% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 14% fair-value upside, at −46%, MEX screens richer than that median.
Fair Value models
Bear A$0.0302Fair Value A$0.0302Bull A$0.0356
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.30/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−9.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+450.3%
’22
’24
’25
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
Compare Minerals Exploration Limited with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Gold · 238 stocks
Beats the industry median on 1/6 measures
Overall it trails its industry peers.
Valuation
Quality Score43 · Below median
Fair Value upside−46% · Below median
Profitability
Return on assets−8% · Bottom 25%
Operating margin (TTM)0% · Below median
Growth and dividend
Revenue growth0% · Below median
Valuation Multiplesvs Gold median · lower = cheaper
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Is Minerals Exploration Limited (MEX) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of A$0.0302 versus a price of A$0.0560, about −46% upside (overvalued).
What is the fair value of MEX?
Our model-based fair value for Minerals Exploration Limited is A$0.0302 (as of Sep 23, 2026), built from audited fundamentals. The current price: A$0.0560.
What is the quality score of MEX?
Minerals Exploration Limited has a Quality Score of 40/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Minerals Exploration Limited (MEX)?
Our model-based price target is the fair value of A$0.0302 (as of Sep 23, 2026) from 1 valuation models. Cautious scenario A$0.0302, optimistic scenario A$0.0356. It is a calculation from audited fundamentals, not an analyst target.
What is the Minerals Exploration Limited stock forecast for 2026?
Our models put fair value at A$0.0302, about −46% upside versus a price of A$0.0560 (overvalued). Cautious scenario A$0.0302, optimistic scenario A$0.0356. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Minerals Exploration Limited (MEX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Minerals Exploration Limited it is A$0.0302 per share (as of Sep 23, 2026), against a price of A$0.0560. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Minerals Exploration Limited stock overvalued or undervalued in 2026?
As of Sep 23, 2026, MEX trades above its calculated fair value: price A$0.0560, fair value A$0.0302, a gap of about −46% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of MEX?
No. The price is what the market pays today (A$0.0560); the fair value is what the company's own numbers justify (A$0.0302). For Minerals Exploration Limited the two are A$0.0258 per share apart. That gap is exactly why we show both numbers side by side.
How much is Minerals Exploration Limited worth?
The market values Minerals Exploration Limited at about A$11.3M (market capitalisation, as of Sep 23, 2026). Per share that is A$0.0560; our models calculate a fair value of A$0.0302 per share.
What do the bullish and bearish scenarios say about MEX?
Our models span a range for Minerals Exploration Limited: cautious scenario A$0.0302, base A$0.0302, optimistic A$0.0356 per share (as of Sep 23, 2026, price A$0.0560). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Minerals Exploration Limited (MEX)?
Balance-sheet figures for Minerals Exploration Limited (as of Sep 23, 2026): return on equity −18.2%. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is MEX from its 52-week high?
Minerals Exploration Limited trades at A$0.0560, about 80% below its 52-week high of A$0.2750 and 44% above the low of A$0.0390 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of A$0.0302 is for.
Which stocks are comparable to Minerals Exploration Limited?
From the same area (Basic Materials) we also value Zijin Mining Group, Newmont Corporation, Agnico Eagle Mines Limited, Barrick Mining Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Minerals Exploration Limited stock attractive at the current price?
The data as of Sep 23, 2026: price A$0.0560, calculated fair value A$0.0302 (−46%), Quality Score 40/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of MEX calculated?
We run Minerals Exploration Limited through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of A$0.0302, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0 % above its aggregate fair value. Minerals Exploration Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Minerals Exploration Limited (MEX)?
The closing price on Sep 24, 2026 was A$0.0560. Our model-based fair value is A$0.0302, about −46% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Minerals Exploration Limited right now?
The price sits above even our optimistic bull case (A$0.0356). The favourable scenario is already priced in. Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of Minerals Exploration Limited
How large is the market capitalisation of Minerals Exploration Limited (MEX)?
The market capitalisation of Minerals Exploration Limited is A$11.3M (≈ $7.9M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of Minerals Exploration Limited (MEX)?
Earnings per share at Minerals Exploration Limited are A$−0.0200. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Minerals Exploration Limited (MEX)?
The return on equity (ROE) of Minerals Exploration Limited is −18.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Minerals Exploration Limited (MEX)?
On an EBIT basis the return on assets of Minerals Exploration Limited is −28.3% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
How much free cash flow does Minerals Exploration Limited (MEX) generate?
The free cash flow of Minerals Exploration Limited is −A$1.5M (fiscal year 2024). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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