Lifezone Metals
Develops Kabanga nickel and Hydromet processing for battery-metals production and recycling.
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Profile
Develops the Kabanga Nickel Project in Tanzania and a Hydromet platform for processing and recycling metals. Current revenue comes from Simulus laboratory and engineering services, while Metals Extraction remains pre-production and tied to project funding, permits, and Tanzania partnership mechanics.
Develops battery-metals projects and process technology through Metals Extraction, Intellectual Property, and Corporate segments. Kabanga in north-west Tanzania is planned as a mine-to-metal operation producing battery-grade nickel, copper, and cobalt for international markets.
The Intellectual Property segment holds Hydromet patents, the Simulus hydrometallurgy laboratory in Perth, refinery work with Sedibelo and the Industrial Development Corporation, and a Glencore-linked U.S. platinum-group-metals recycling agreement. Simulus provides the current laboratory and engineering-services revenue.
Execution centers on moving Kabanga from feasibility and licensing toward production while proving Hydromet in adjacent recycling and refinery settings. Metals Extraction has not generated revenue, and the business depends on project financing, permit progress, execution readiness, and Tanzania-government partnership mechanics.
Company facts
Categories
Key statistics
Year to date −1.1% · Average volume (30d) 409.5K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Nov 12, 2025 | BTIG | Reiterate | Buy | $11 | $7 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | −$0.15 | −$0.08 | +46.7% | $800.0K | $1.7M | +112.5% | +9.63% |
| Mar 19, 2026Q4 FY25 | −$0.05 | −$0.19 | −280.0% | $700.0K | $731.6K | +4.5% | −8.91% |
| Aug 11, 2025Q2 FY25 | −$0.12 | −$0.08 | +33.3% | — | $325.5K | — | +1.75% |
| Apr 9, 2025 | −$0.09 | −$0.09 | 0.0% | — | $90.9K | — | −11.36% |
Financial highlights
| 12 quarters | Q1 FY24 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $41.4K | $49.7K | $90.9K | $325.5K | $731.6K | $1.7M | |
| Gross profit | $30.4K | $37.4K | $16.3K | −$248.0K | −$420.1K | −$263.4K | |
| Operating income | −$4.2M | −$9.6M | −$38.7M | −$7.9M | −$10.7M | −$9.6M | |
| Net income | −$3.8M | −$10.7M | −$35.6M | $2.7M | −$16.3M | −$6.9M | |
| Diluted EPS | −$0.03 | −$0.05 | −$0.44 | −$0.08 | −$0.19 | −$0.08 | |
| Gross margin | 73.6% | 75.3% | 17.9% | -76.2% | -57.4% | -15.8% | |
| Operating margin | -10,162.3% | -19,300.5% | -42,578.5% | -2,414.3% | -1,468.1% | -578.6% |
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $37.3M · Total debt $84.8M · Total assets $208.6M · Shareholders' equity $94.5M
Dividends
No dividends on record.
Ownership
Shares outstanding 89.91M · Float 33.39M · 37.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Keith Stuart Liddell · director | 23.22M | 25.82% | Form 4 | Mar 18, 2026 |
| Cinctive Capital Management LP | 8.38M | 9.31% | 13F | Aug 14, 2026 |
| Christopher Michael Showalter · officer: Chief Executive Officer | 2.85M | 3.17% | Form 4 | Apr 15, 2026 |
| Grantham, Mayo, van Otterloo & Co. LLC | 2.55M | 2.84% | 13F | Aug 13, 2026 |
| BlackRock, Inc. | 2.47M | 2.74% | 13F | Aug 7, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- Centene
Crawford nickel-cobalt sulphide developer for EV and stainless markets
- Nicolet Bankshares
Indonesian nickel producer with NPI, ore, and HPAL/MHP exposure
- First Trust US Equity Opportunities ETF
Baptiste nickel project with refinery option for battery-grade products
- Vale (ADR)
Global nickel, copper, and iron ore producer with finished nickel scale
- Sibanye Stillwater (ADR)
PGM producer and recycler with battery-metals processing exposure
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Lifezone Metals | $4.34 | +0.23% | $390.2M | — | — | 162.6 | +422.4% |
| Centene | $64.94 | +0.28% | $31.99B | — | 14.3 | 0.2 | +9.9% |
| Nicolet Bankshares | $171.74 | −0.02% | $2.97B | 19.1 | 13.3 | 5.7 | +227.9% |
| First Trust US Equity Opportunities ETF | $194.23 | +7.65% | $1.70B | — | — | — | — |
| Vale (ADR) | $15.10 | +0.40% | $64.10B | 31.3 | 8.3 | 1.6 | +19.2% |
| Sibanye Stillwater (ADR) | $12.06 | −0.33% | $8.56B | — | — | 1.1 | +55.9% |
| Median | 25.2 | 13.3 | 1.3 | +37.6% |