This report is an updated version of the report published on 9 October 2025 at 11:50 AM AEDT.

Minerals 260 Ltd (ASX: MI6) 

Minerals 260 Ltd (ASX: MI6) is an Australian mineral exploration and development company focused on discovering and advancing high-quality resource projects. The company’s primary exploration activities target gold, platinum, palladium, nickel, copper, lithium, and rare earth elements, with a strong emphasis on gold. MI6 holds 100% interests in several key projects, including the large-scale Bullabulling Gold Project in Western Australia, as well as the Aston, Moora, and Dingo Rocks projects. 

Recommendation Rationale – SELL at AUD 0.320

• Technical Standpoint: MI6’s share price has surpassed the R2 level recommended on 7 October 2025. The approx. 14-day RSI is now around 87.97, indicating overbought territory. This upward move raises probable risk of short-term consolidation.
• Continued Losses: MI6 is not generating any operational revenue and remains unprofitable, with a net loss of AU$11.52 million reported for FY25. Its current investment case relies heavily on the future potential of unproven exploration assets rather than established cash flows.
• Dependence on External Capital Raising: With zero revenue, MI6 is dependent on future capital raises and favorable equity markets to sustain operations and finance growth, exposing it to financing and dilution risk.
• Key Risks: As with all exploration companies, MI6’s resource estimates and development projections carry inherent geological, regulatory, and operational risks, including environmental and permitting issues.

Daily Price Chart

 (Source: REFINITIV; Analysis by Kalkine Group)

Given its current trading levels, recent rally in the share price, and risks associated, it is prudent to sell the stock at the current levels. Hence, a ‘Sell’ recommendation is given on the stock at the current market price of AUD 0.32, as of 9 October 2025 at 11:50 AM AEDT.

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical issues prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is neither an indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 9 October 2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Kalkine reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest.

Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.