Marvel Gold Ltd. (MVL) AI Stock Analysis

• Market Cap: AU$29.81M
• Dividend Yield: N/A
• Average Volume (3M): 763.48K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.05
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): >-0.01
• Shares Outstanding: 1,419,459,100
• 10 Day Avg. Volume: 392,161
• 30 Day Avg. Volume: 763,484
• PEG Ratio: 0.04
• Price to Book (P/B): 2.55
• Price to Sales (P/S): 306.51
• P/FCF Ratio: -8.86
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: AU$0.02 ▲(10.00% Upside)

The score is held back primarily by weak financial performance (ongoing losses and negative free cash flow despite revenue improvement), with some offset from a low-debt balance sheet. Technicals are neutral-to-slightly constructive versus longer-term averages, but valuation is pressured by the lack of profitability and no dividend support.

Positive Factors

Low Leverage

Zero reported debt provides durable financial flexibility and a low fixed-cost structure, lowering default and interest-rate exposure. Over a 2-6 month horizon this structural strength preserves runway for exploration and operations, reducing short-term solvency risk.

Revenue Growth and Gross Profit Turning Positive

Sustained revenue improvement and positive gross profit signal improving project economics and stronger unit margins. If management maintains cost control, this durable trend supports scaling operations and narrows the gap to operating profitability over the medium term.

Improving Cash Burn

A reduction in cash burn indicates operational progress and eases immediacy of financing needs. While still cash-negative, sustained improvement in burn rate materially extends runway and increases the likelihood the company can reach breakeven or require smaller capital raises.

Negative Factors

Large Net Losses

Material recurring net losses erode shareholder value and signal that operating costs still outstrip revenues. Over months this persistent loss profile heightens dilution risk and makes sustaining operations dependent on external funding or significant cost and production improvements.

Negative Operating and Free Cash Flow

Chronic negative operating and free cash flow means the company cannot self-fund exploration or corporate activities. Structurally this forces reliance on equity or other financing, increasing dilution risk and constraining the ability to execute medium-term development plans without new capital.

Eroding Equity Base

A sharp decline in equity reduces the balance-sheet buffer and limits financial flexibility. Over a 2-6 month horizon this weaker equity position raises vulnerability to asset write-downs, makes fundraising more dilutive or difficult, and signals sustained capital erosion from operating losses.

Marvel Gold Ltd. Business Overview & Revenue Model

Company Description

Marvel Gold Limited engages in the development and exploration of gold projects. The company holds 70% interest in the Tabakorole gold project, which consists of 10 tenements covering an area of 830 square kilometers located in southern Mali. It also holds 80% interest in the Yanfolila project located in southern Mali, as well as holds 80% interest in the Kolondieba gold projects located in southern Mali. Marvel Gold Limited was incorporated in 2016 and is based in West Perth, Australia.

How the Company Makes Money

Marvel Gold Ltd. Financial Statement Overview

Summary

Revenue is improving and gross profit has turned positive, but the company remains deeply unprofitable with large net losses, negative EBIT/EBITDA, and continued negative operating/free cash flow. Balance sheet risk is reduced by zero debt, but equity has fallen significantly, reflecting ongoing losses and likely ongoing funding needs.

Income Statement

Revenue has improved from 2022 to 2024 (2024 revenue up ~186% year-over-year), but the business remains deeply unprofitable. 2024 shows a large net loss (about -$3.7M) and very weak profitability versus a small revenue base, with materially negative operating results (EBIT and EBITDA). While gross profit turned positive in 2023–2024, operating costs continue to overwhelm gross profit, keeping margins sharply negative and indicating the company has not yet reached a sustainable operating scale.

Balance Sheet

The balance sheet is supported by net cash/low leverage, with total debt reported at zero in 2022–2024 and a 0.0 debt-to-equity ratio, which lowers financial risk. However, equity has fallen significantly (from ~6.9M in 2023 to ~3.1M in 2024), reflecting ongoing losses and potential dilution/asset write-down pressure. Returns on equity are strongly negative in the latest years, signaling that capital is not currently generating shareholder value despite the absence of debt.

Cash Flow

Cash generation is weak, with operating cash flow and free cash flow negative across all recent periods (2024 free cash flow about -$0.9M). Cash burn improved versus 2023, but free cash flow growth is still negative in 2024 (about -59%), showing volatility and continued funding needs. With losses continuing and cash flow remaining negative, the company likely depends on external capital to sustain exploration and corporate activities.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	-2.99K	25.36K	17.71K	7.41K	0.00	0.00
Gross Profit	-2.99K	25.36K	13.41K	-170.11K	-111.44K	0.00
EBITDA	-3.28M	-2.87M	-2.27M	-6.68M	-10.42M	-6.83M
Net Income	-3.21M	-3.74M	-7.08M	-8.21M	20.52M	-9.00M
Balance Sheet
Total Assets	4.88M	3.38M	6.98M	12.10M	15.48M	10.20M
Cash, Cash Equivalents and Short-Term Investments	4.26M	512.61K	1.34M	1.18M	1.95M	1.51M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	689.44K	451.34K	112.88K	271.59K	420.79K	10.57M
Stockholders Equity	4.38M	3.05M	6.94M	11.91M	14.73M	-365.81K
Cash Flow
Free Cash Flow	-1.02M	-877.46K	-2.16M	-7.06M	-5.02M	-8.66M
Operating Cash Flow	-1.01M	-877.46K	-2.16M	-7.04M	-4.97M	-7.38M
Investing Cash Flow	153.76K	30.28K	507.03K	981.00K	959.19K	-1.27M
Financing Cash Flow	4.21M	0.00	1.76M	5.21M	4.20M	10.27M

Marvel Gold Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
HAW	56 Neutral	AU$45.23M	-135.00	-2.49%	―	―	37.50%
KZR	52 Neutral	AU$63.54M	-10.00	-20.41%	―	400.00%	21.71%
IR1	48 Neutral	AU$48.43M	-3.12	-30.19%	―	―	9.01%
MVL	47 Neutral	AU$29.81M	-8.08	-77.71%	―	―	―
AAM	46 Neutral	AU$30.79M	-6.19	-7.34%	―	―	―

Marvel Gold Ltd. Corporate Events

Marvel Gold Flags Five High-Priority Drill Targets at Hanang Project in Tanzania

Marvel Gold has identified five high-priority structural targets at its Hanang Gold Project in Tanzania from initial results of a 5,389 line-kilometre drone-borne magnetic survey, covering less than 20% of the licence area and correlating strongly with recent soil sampling. The survey has confirmed a geological setting conducive to significant gold mineralisation, particularly along the Wandela-Basuto shear corridor and associated shear-related plugs and fold hinges, prompting Marvel to accelerate exploration plans with a maiden drilling program scheduled to begin in February 2026, which could materially advance understanding of Hanang’s resource potential and enhance the company’s exploration profile in the region.

The most recent analyst rating on (AU:MVL) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Marvel Gold Ltd. stock, see the AU:MVL Stock Forecast page.

Marvel Gold to Divest Yanfolila Project in Mali

Marvel Gold Limited has entered into a binding Memorandum of Understanding with Askiya Mineral Resources to sell its Yanfolila Gold Project in Mali for up to US$1.94 million. This strategic move allows Marvel to concentrate on its core asset, the Hanang Gold Project in Tanzania, while Askiya, with a strong local presence, is positioned to advance the Yanfolila project. The transaction involves several payment milestones tied to the project’s exploration success and requires Marvel to ensure the renewal and transfer of mining tenements.

Marvel Gold Expands Tanzanian Exploration with Hanang Acquisition

Marvel Gold Limited has completed the acquisition of the Hanang Gold Project in Tanzania, receiving all necessary regulatory approvals. The company has expanded its land holdings around Hanang from 230 km² to 380 km² and identified a 3 km gold anomaly through geochemical studies. Additionally, Marvel has sold its interests in the Tabakorole project in Mali, allowing it to concentrate on the promising Hanang Project, which is situated in a highly prospective and underexplored greenstone belt. These developments are expected to enhance Marvel’s exploration potential and strengthen its position in the Tanzanian gold mining sector.