Golden Horse Minerals Ltd (GHM) - Net Assets

Latest as of June 2025: AU$38.72 Million AUD

Based on the latest financial reports, Golden Horse Minerals Ltd (GHM) has net assets worth AU$38.72 Million AUD as of June 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (AU$43.11 Million) and total liabilities (AU$4.39 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.

Key Net Assets Metrics

Metric Value
Current Net Assets AU$38.72 Million
% of Total Assets 89.81%
Annual Growth Rate -0.8%
5-Year Change N/A
10-Year Change 11.55%
Growth Volatility 90.36

Golden Horse Minerals Ltd - Net Assets Trend (2010–2023)

This chart illustrates how Golden Horse Minerals Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.

Annual Net Assets for Golden Horse Minerals Ltd (2010–2023)

The table below shows the annual net assets of Golden Horse Minerals Ltd from 2010 to 2023.

Year Net Assets Change
2023-12-31 AU$8.44 Million +178.79%
2022-12-31 AU$3.03 Million +5.11%
2021-12-31 AU$2.88 Million +13.35%
2020-12-31 AU$2.54 Million +334.16%
2019-12-31 AU$-1.09 Million +7.82%
2018-12-31 AU$-1.18 Million -14.15%
2017-12-31 AU$-1.03 Million -12.18%
2016-12-31 AU$-919.35K -182.71%
2015-12-31 AU$1.11 Million -85.31%
2014-12-31 AU$7.57 Million +22.82%
2013-12-31 AU$6.16 Million -28.40%
2012-12-31 AU$8.60 Million +2.20%
2011-12-31 AU$8.42 Million -10.12%
2010-12-31 AU$9.37 Million --

Equity Component Analysis

This analysis shows how different components contribute to Golden Horse Minerals Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

  • Retained earnings have decreased by 1916307072.0% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2023)

Component Amount Percentage
Common Stock AU$27.67 Million 327.82%
Other Comprehensive Income AU$-263.71K -3.12%
Other Components AU$2.52 Million 29.91%
Total Equity AU$8.44 Million 100.00%

Golden Horse Minerals Ltd Competitors by Market Cap

The table below lists competitors of Golden Horse Minerals Ltd ranked by their market capitalization.

Company Market Cap
Allegiant Gold Ltd
V:AUAU
 		$65.37 Million
RMS Mezzanine A.S.
PR:PVT
 		$65.39 Million
Pinetree Capital Ltd
TO:PNP
 		$65.39 Million
Onxeo SA
F:C4X
 		$65.39 Million
Kuangli Photoelectric Technology Co Ltd
TW:6431
 		$65.36 Million
Snet systems Inc
KQ:038680
 		$65.31 Million
Atari S.A.
PA:ALATA
 		$65.31 Million
Pro Inside Public Company Limited
BK:PIS
 		$65.31 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Golden Horse Minerals Ltd's equity between the two most recent reporting periods.

Equity Growth Insights

  • From 2022 to 2023, total equity changed from 3,027,551 to 8,440,561, a change of 5,413,010 (178.8%).
  • Net loss of 961,840 reduced equity.
  • Share repurchases of 3,619,903 reduced equity.
  • New share issuances of 2,362,449 increased equity.
  • Other comprehensive income increased equity by 903,229.
  • Other factors increased equity by 6,729,075.

Equity Change Factors (2022 to 2023)

Factor Impact Contribution
Net Income AU$-961.84K -11.4%
Share Repurchases AU$3.62 Million -42.89%
Share Issuances AU$2.36 Million +27.99%
Other Comprehensive Income AU$903.23K +10.7%
Other Changes AU$6.73 Million +79.72%
Total Change AU$- 178.79%

Book Value vs Market Value Analysis

This analysis compares Golden Horse Minerals Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

  • Current price-to-book ratio: 2.12x
  • The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
  • The price-to-book ratio has increased from 0.10x to 2.12x over the analyzed period, suggesting growing market confidence.

Historical Price-to-Book Ratios

Date Book Value per Share Market Price P/B Ratio
2010-12-31 AU$5.38 AU$0.52 x
2011-12-31 AU$4.82 AU$0.52 x
2012-12-31 AU$4.44 AU$0.52 x
2013-12-31 AU$2.84 AU$0.52 x
2014-12-31 AU$2.38 AU$0.52 x
2015-12-31 AU$0.30 AU$0.52 x
2016-12-31 AU$-0.25 AU$0.52 x
2017-12-31 AU$-0.28 AU$0.52 x
2018-12-31 AU$-0.32 AU$0.52 x
2019-12-31 AU$-0.29 AU$0.52 x
2020-12-31 AU$0.22 AU$0.52 x
2021-12-31 AU$0.12 AU$0.52 x
2022-12-31 AU$0.11 AU$0.52 x
2023-12-31 AU$0.25 AU$0.52 x

Capital Efficiency Dashboard

This dashboard shows how efficiently Golden Horse Minerals Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

  • Current Return on Equity (ROE): -11.40%
  • The company may be facing challenges in efficiently utilizing shareholder equity.
  • DuPont Analysis Breakdown:
  • • Net Profit Margin: -23.69%
  • • Asset Turnover: 0.42x
  • • Equity Multiplier: 1.14x
  • Recent ROE (-11.40%) is above the historical average (-64.54%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year Return on Equity Net Profit Margin Asset Turnover Equity Multiplier Economic Value Added
2010 -5.35% 0.00% 0.00x 1.12x AU$-1.44 Million
2011 -14.31% 0.00% 0.00x 1.03x AU$-2.05 Million
2012 -16.80% 0.00% 0.00x 1.07x AU$-2.31 Million
2013 -34.43% 0.00% 0.00x 1.23x AU$-2.74 Million
2014 -6.55% 0.00% 0.00x 1.05x AU$-1.25 Million
2015 -667.07% 0.00% 0.00x 1.80x AU$-7.53 Million
2016 0.00% 0.00% 0.00x 0.00x AU$-1.68 Million
2017 0.00% 0.00% 0.00x 0.00x AU$-25.45K
2018 0.00% 0.00% 0.00x 0.00x AU$52.99K
2019 0.00% 0.00% 0.00x 0.00x AU$-255.88K
2020 -70.23% 0.00% 0.00x 1.29x AU$-2.04 Million
2021 -41.39% 0.00% 0.00x 1.53x AU$-1.48 Million
2022 -36.09% 0.00% 0.00x 1.59x AU$-1.40 Million
2023 -11.40% -23.69% 0.42x 1.14x AU$-1.81 Million

Industry Comparison

This section compares Golden Horse Minerals Ltd's net assets metrics with peer companies in the Gold industry.

Industry Context

  • Industry: Gold
  • Average net assets among peers: $24,481,971
  • Average return on equity (ROE) among peers: -183.05%

Peer Company Comparison

Company Net Assets Return on Equity Debt-to-Equity Market Cap
Golden Horse Minerals Ltd (GHM) AU$38.72 Million -5.35% 0.11x $65.37 Million
Australasian Metals Ltd (A8G) $7.13 Million -4.71% 0.03x $2.79 Million
Aruma Resources Ltd (AAJ) $2.25 Million -50.04% 0.07x $8.79 Million
Astral Resources NL (AAR) $588.33K -62.34% 0.51x $235.76 Million
Antilles Gold Ltd (AAU) $21.74 Million -31.75% 1.85x $30.89 Million
Adelong Gold Ltd (ADG) $10.46 Million -19.33% 0.07x $9.43 Million
Ardiden Ltd (ADV) $44.20K -1635.56% 19.20x $51.70 Million
Ark Mines Ltd (AHK) $5.02 Million -9.90% 0.02x $18.17 Million
Aureka Ltd (AKA) $8.93 Million -9.70% 0.08x $12.25 Million
Alkane Resources Ltd (ALK) $174.22 Million -3.54% 0.15x $1.39 Billion
Alchemy Resources Ltd (ALY) $14.44 Million -3.66% 0.01x $6.73 Million

About Golden Horse Minerals Ltd

AU:GHM Australia Gold
Market Cap
$65.37 Million
AU$92.39 Million AUD
Market Cap Rank
#22962 Global
#712 in Australia
Share Price
AU$0.52
Change (1 day)
+4.00%
52-Week Range
AU$0.34 - AU$0.84
All Time High
AU$0.84
Categories
Companies in Australia Gold
About

Golden Horse Minerals Limited operates as a gold exploration company that is engaged in the acquisition, exploration, and development of mineral projects in Western Australia. It primarily explores for gold, nickel, and lithium exploration. The company's principal project is the Southern Cross North project covering an area of approximately 930 square kilometers located in Perth, Western Australi… Read more