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Home CompaniesVariscan Mines Ltd

Variscan Mines Ltd

Basic Materials Other Industrial Metals & Mining
PortfolioPortfolio WatchlistWatchlist
Company price
None AUD 0.00(0%)
Last update at 2026-11-12T06:45:03.817083Z
Market Cap
10.06M

Momentum Score

…

Altoro Metals Limited focuses on the acquisition, exploration, and development of mineral projects in Australia and Spain. The company explores for copper, gold, zinc, lead, and uranium deposits. Its flagship project is the Novales-Udias project located in the Basque-Cantabrian Basin. The company was formerly known as Variscan Mines Limited and changed its name to Altoro Metals Limited in July 2026. Altoro Metals Limited was incorporated in 1987 and is based in Perth, Australia.

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52 Week Price Range
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Momentum Score

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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

Variscan Mines Ltd is an Australia-listed mineral exploration and development company focused on discovering and advancing metallic mineral deposits in Europe. Long-term growth drivers include rising demand for critical and industrial metals, successful exploration and resource development outcomes, and potential strategic benefits from operating projects inside the EU that may support supply-chain diversification.
Principal risks are exploration and development uncertainty, commodity price volatility, permitting and regulatory hurdles in host jurisdictions and the need for additional financing to progress projects.

Risk Score
High

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
-
Dividend Yield
-
Revenue TTM
-0.00M
Revenue Per Share
-
Gross Profit TTM
-0.00M
Debt / Equity
0.02
ROE
-8.71%
Net Debt
-0.20M
ROCE
-6.70%
Diluted EPS TTM
-

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2025-06-30 2024-06-30 2023-06-30 2022-06-30 2021-06-30
Type yearly yearly yearly yearly yearly
Date 2025-06-30 2024-06-30 2023-06-30 2022-06-30 2021-06-30
Income before tax -0.92M -0.65M -0.89M -0.83M -0.68M
Net income -0.92M -0.65M -0.89M -0.83M -0.66M
Selling general administrative 0.73M 0.52M 0.38M 0.43M 0.40M
Selling and marketing expenses 0.00M 0.01M - - -
Gross profit -0.02M 0.00M - - -
Reconciled depreciation 0.02M 0.02M 0.01M 0.00M 0.00M
Ebit - -0.65M -0.89M -0.82M -0.68M
Ebitda - -0.63M -0.87M -0.83M -0.68M
Depreciation and amortization 0.78M 0.02M 0.01M -0.00M 0.00M
Operating income -0.73M -0.68M -0.89M -0.82M -0.68M
Other operating expenses 0.73M 0.53M 0.91M 0.82M 0.66M
Interest expense 0.00M 0.00M 0.00M 0.00M 0.00M
Tax provision 0.00M 0.00M 0.00M 0.00M 0.00M
Interest income 0.01M 0.01M 0.01M 0.00M 0.01M
Net interest income 0.01M 0.01M 0.01M 0.00M 0.01M
Income tax expense - 0.01M 0.01M 0.00M -0.03M
Total revenue 0.01M 0.00M 0.01M 0.00M 0.01M
Total operating expenses 0.73M 0.68M 0.91M 0.82M 0.66M
Cost of revenue 0.02M 0.01M - - -
Total other income expense net -0.19M 0.03M 0.01M -0.00M -0.00M
Net income from continuing ops -0.92M -0.65M -0.89M -0.83M -0.68M
Net income applicable to common shares -0.92M -0.65M -0.89M -0.83M -0.68M
Breakdown 2025-06-30 2024-06-30 2023-06-30 2022-06-30 2021-06-30
Type yearly yearly yearly yearly yearly
Date 2025-06-30 2024-06-30 2023-06-30 2022-06-30 2021-06-30
Total assets 11.47M 9.83M 9.63M 9.04M 9.50M
Other current assets 0.02M - - 0.02M 0.02M
Total liab 0.59M 0.51M 0.25M 0.28M 0.23M
Total stockholder equity 10.88M 9.32M 9.38M 8.76M 9.27M
Other current liab 0.07M 0.38M 0.09M 0.13M 0.06M
Common stock 40.63M 35.98M 35.34M 34.02M 33.97M
Capital stock - - 35.34M 34.02M 33.97M
Retained earnings -27.76M -27.05M -26.84M -25.98M -25.17M
Other assets - - 0.07M 0.06M 0.23M
Cash 0.45M 0.25M 1.02M 1.95M 4.44M
Cash and equivalents - - 1.02M 1.95M 4.44M
Total current liabilities 0.59M 0.51M 0.25M 0.28M 0.23M
Net debt -0.20M -0.25M -1.02M -1.95M -4.44M
Short term debt 0.25M - 0.00M 0.00M 0.00M
Short long term debt total 0.25M - - - -
Other stockholder equity - - -0.01M -0.01M -0.01M
Property plant equipment - - 8.17M 6.78M 4.79M
Total current assets 0.63M 0.37M 1.39M 2.20M 4.49M
Net tangible assets - - 9.38M 8.76M 9.27M
Net receivables 0.16M 0.10M 0.36M 0.24M 0.03M
Accounts payable 0.27M 0.13M 0.16M 0.15M 0.17M
Accumulated other comprehensive income -1.99M 0.39M 0.88M 0.72M 0.47M
Non currrent assets other 0.07M 9.40M 0.07M 0.06M 0.23M
Non current assets total 10.84M 9.46M 8.24M 6.84M 5.02M
Long term debt total - - 0.00M 0.00M 0.00M
Breakdown 2025-06-30 2024-06-30 2023-06-30 2022-06-30 2021-06-30
Type yearly yearly yearly yearly yearly
Date 2025-06-30 2024-06-30 2023-06-30 2022-06-30 2021-06-30
Investments -1.45M -1.11M -1.61M -1.84M 0.48M
Change to liabilities - - 0.05M 0.02M -0.09M
Total cashflows from investing activities -1.45M -1.11M -1.61M -1.84M -1.05M
Total cash from financing activities 2.41M 0.71M 1.25M -0.01M 4.11M
Change to operating activities - - - - -0.14M
Net income -0.92M -0.65M -0.00M -0.00M -0.00M
Change in cash 0.20M -0.77M -0.93M -2.49M 2.29M
Begin period cash flow 0.25M 1.02M 1.95M 4.44M 2.15M
End period cash flow 0.45M 0.25M 1.02M 1.95M 4.44M
Total cash from operating activities -0.77M -0.36M -0.00M -0.00M -0.00M
Issuance of capital stock 2.37M 0.68M 1.25M 0.05M 4.25M
Depreciation - 0.01M 0.00M 0.08M 0.00M
Other cashflows from investing activities - - -1.60M -1.80M -1.49M
Change to account receivables -0.00M 0.00M 0.00M -0.00M -0.00M
Sale purchase of stock -0.23M -0.07M 1.25M -0.06M -0.14M
Other cashflows from financing activities 0.28M 0.10M -1.61M -1.84M -1.05M
Change to netincome - - 0.17M 0.19M 0.17M
Capital expenditures 0.04M 1.11M 1.61M 1.84M 1.52M
Change in working capital -0.03M 0.03M 0.00M -0.00M -0.00M
Stock based compensation - - 0.00M 0.00M 0.00M
Other non cash items -0.73M 0.26M 0.00M 0.00M -0.00M
Free cash flow -0.81M -1.47M -1.61M -1.84M -1.52M

Peer Comparison*

Sector: Basic Materials Industry: Other Industrial Metals & Mining

Stock Name
Change
(AUD)
Price
(AUD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
BHP
BHP Group Ltd		 -0.78
1.29%		 59.61 20.70 15.82 5.10 4.00 3.51 6.71
RIO
Rio Tinto Ltd		 -3.30
2.14%		 150.57 14.04 12.02 4.03 2.49 2.85 6.74
GLC
Glencore Plc		 0.27
2.69%		 10.30 15.15 11.30 0.38 1.95 0.40 7.60
FMG
Fortescue Ltd		 -0.37
2.40%		 15.05 11.31 13.61 2.81 1.51 1.87 4.32

Profile*

Variscan Mines Ltd

Altoro Metals Limited focuses on the acquisition, exploration, and development of mineral projects in Australia and Spain. The company explores for copper, gold, zinc, lead, and uranium deposits. Its flagship project is the Novales-Udias project located in the Basque-Cantabrian Basin. The company was formerly known as Variscan Mines Limited and changed its name to Altoro Metals Limited in July 2026. Altoro Metals Limited was incorporated in 1987 and is based in Perth, Australia.

St Georges Terrace, Perth, WA, Australia, 6000

61 8 9316 9100

https://www.variscan.com.au

Name Title Year Born
Mr. Stewart James Dickson B.A., BA (Hons), M.B.A., MBA CEO, MD & Director 1978
Mr. Mark Edward Pitts B Bus, F.C.A., FCA, GAICD Company Sec. 1962
Mr. Mark Edward Pitts B Bus, F.C.A., FCA, GAICD Company Secretary 1962
Mr. Mark Edward Pitts B Bus, F.C.A., FCA, GAICD Company Secretary 1962
Mr. Mark Edward Pitts B Bus, F.C.A., FCA, GAICD Company Secretary 1962
Mr. Mark Edward Pitts B Bus, F.C.A., FCA, GAICD Company Secretary 1962
Mr. Mark Edward Pitts B Bus, F.C.A., FCA, GAICD Company Secretary 1962
Mr. Mark Edward Pitts B Bus, F.C.A., FCA, GAICD Company Secretary 1962
Mr. Mark Edward Pitts B Bus, F.C.A., FCA, GAICD Company Secretary 1962
Mr. Mark Edward Pitts B Bus, F.C.A., FCA, GAICD Company Secretary 1962

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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