01 Behind the project
Understanding early-stage
companies.
Most companies on this site are early-stage: mining explorers, and companies in other sectors that are still building their business. Many earn little or no revenue and spend more cash than they bring in. They fund the work by raising money from shareholders, often more than once, and each raising usually means more shares on issue (dilution).
This is the high-risk, high-reward end of the market.
The risk: most explorers never find a deposit that can be mined profitably, and many early-stage companies never reach steady revenue. Some run out of money first.
The reward: when a company does make a real discovery, or its product takes off, it can become worth many times what it was, and the shareholders who backed it early share in that. That possibility is why people invest here.
Nobody knows in advance which companies those will be. What you can know is what you own: what the company is trying to do, how much cash it has, how fast it's spending it, and how it's been funded. That's where we start.
General information only, not financial advice. It doesn't take into account your objectives, financial situation or needs. Always read the company's own ASX announcements before making any decision.