MetalNRG Plc (AMG) AI Stock Analysis

• Market Cap: £2.65M
• Dividend Yield: N/A
• Average Volume (3M): 412.75K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.71
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: UK
• Employees: 6
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): -0.05
• Shares Outstanding: 24,107,609
• 10 Day Avg. Volume: 137,165
• 30 Day Avg. Volume: 412,747
• PEG Ratio: >-0.01
• Price to Book (P/B): -0.29
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -0.83
• 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: 41 Neutral
• Price Target: 15.00p ▲(42.86% Upside)

The score is driven primarily by weak financial performance (negligible revenue, ongoing losses, negative equity, and continued cash burn). Technicals are only mildly supportive in the short term but remain weak over longer timeframes, and valuation is constrained by loss-making results and no dividend yield data.

Positive Factors

Free cash flow improvement

A sharp improvement in free cash flow in 2024 reduces near-term financing pressure and lengthens the company’s operational runway. If sustained, improved cash generation makes the business less reliant on external capital and supports gradual deleveraging or targeted reinvestment.

Smaller net loss in 2024

A materially smaller net loss in 2024 indicates meaningful de-risking of the P&L versus the prior year, reflecting cost reduction or one-off normalization. Sustained lower losses are a precondition for returning to profitability and improving shareholder equity over the medium term.

Lean operating headcount

An exceptionally small workforce implies a low fixed-cost base and operational leanliness, which can limit cash burn and enable management to pivot resources quickly. For a distressed business, a lean structure preserves runway and supports focused execution of turnaround initiatives.

Negative Factors

No meaningful revenue

Effectively zero revenue over multiple years undermines the firm's core business model and makes margin recovery impossible until sales resume. Without durable revenue, profitability, customer traction, and long-term competitiveness remain hypothetical and financing dependency is prolonged.

Weakened balance sheet and rising debt

Materially negative equity, rising debt and shrinking assets create structural solvency and refinancing risk. Limited balance-sheet flexibility constrains investment, increases creditor dependency, and raises the chance of dilutive recapitalizations or distressed outcomes absent a sustained operational turnaround.

Persistent cash burn

Continued negative operating and free cash flow signals ongoing drain on resources and persistent funding needs. Even with year-over-year improvement, sustained negative cash generation elevates refinancing risk and limits the company’s ability to invest in growth or withstand market shocks.

MetalNRG Plc Business Overview & Revenue Model

Company Description

Atlas Metals Group plc operates as a natural resources and energy investing company in the United Kingdom, the United States of America, Tanzania, and Italy. It explores for gold, copper, and uranium deposits. The company holds interests in the Gold Ridge project that covers an area of approximately 932 hectares located in Arizona, the United States; the Lake Victoria Gold project located in Tanzania; and the Uranium project located in Kyrgyzstan. It also has investments in oil and gas properties; and energy production from waste. The company was formerly known as MetalNRG plc and changed its name to Atlas Metals Group plc in December 2024. Atlas Metals Group plc was incorporated in 2006 and is headquartered in London, the United Kingdom.

How the Company Makes Money

MetalNRG Plc Financial Statement Overview

Summary

Financials appear distressed: revenue is effectively zero across 2022–2024 with recurring operating and net losses. The balance sheet is high-risk with materially negative equity in 2023–2024, rising debt, and a shrinking asset base. Cash burn persists (negative operating and free cash flow in 2023–2024) despite some improvement in 2024, keeping funding and solvency risk elevated.

Income Statement

The income statement is very weak. Revenue is effectively zero in the last three annual periods (2022–2024), and profitability remains deeply negative with EBIT and net losses continuing in every year shown. While 2024’s net loss (about -3.4m) is far smaller than the exceptionally large 2023 loss (about -1.45bn), results are still loss-making and margins are not meaningful given the lack of revenue.

Balance Sheet

The balance sheet shows elevated financial risk. Shareholders’ equity has swung from positive in 2020–2022 to materially negative in 2023–2024, indicating accumulated losses and a weakened capital base. Total debt has increased versus 2022 (about 0.45m) to 2024 (about 1.90m) while total assets have fallen to roughly 1.01m in 2024, leaving limited balance-sheet flexibility and raising refinancing/solvency concerns.

Cash Flow

Cash flow is mixed but still pressured. Operating cash flow and free cash flow are negative in 2023 and 2024, implying ongoing cash burn; however, the cash outflow in 2024 (about -1.51m) is less severe than 2021 (about -2.71m). Free cash flow growth shows a sharp improvement in 2024 versus 2023, but the business has not demonstrated sustained cash generation, which keeps funding risk elevated.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	24.36K	19.13K
Gross Profit	1.04M	0.00	0.00	0.00	24.36K	19.13K
EBITDA	-1.29M	-3.11M	-1.59M	-1.67M	-1.85M	-809.72K
Net Income	-2.32M	-3.39M	-1.45B	-2.22M	-1.86M	-810.00K
Balance Sheet
Total Assets	849.02K	1.01M	1.69M	2.04M	2.98M	1.23M
Cash, Cash Equivalents and Short-Term Investments	76.00	24.05K	5.37K	24.72K	49.32K	63.61K
Total Debt	21.09K	1.90M	848.84K	450.23K	339.36K	786.34K
Total Liabilities	3.19M	5.28M	2.94M	1.85M	672.40K	1.08M
Stockholders Equity	-2.34M	-4.28M	-1.25M	188.25K	2.31M	150.19K
Cash Flow
Free Cash Flow	-354.23K	-1.51M	-323.16K	57.87K	-2.71M	-690.76K
Operating Cash Flow	-354.23K	-1.51M	-323.16K	57.87K	-2.71M	-690.76K
Investing Cash Flow	780.67K	175.00K	-2.54K	-35.68K	-854.78K	-235.16K
Financing Cash Flow	375.20K	1.35M	306.36K	-46.78K	3.55M	850.50K

MetalNRG Plc 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%
ZNWD	52 Neutral	£38.24M	-12.82	-7.78%	―	―	-19.57%
BRES	50 Neutral	£37.23M	-14.44	-6.07%	―	―	76.92%
CTL	50 Neutral	£18.77M	-1.34	-35.54%	―	―	―
AMG	41 Neutral	£2.65M	-0.59	―	―	―	―
TM1	32 Underperform	£2.51M	-0.32	―	―	―	17.65%

MetalNRG Plc Corporate Events

Atlas Metals advances UPSA acquisition with drilling campaign and offtake interest

Atlas Metals Group has moved a step closer to acquiring Universal Pozzolanic Silica Alumina Ltd, appointing SLR Consulting Australia to carry out a confirmatory drilling campaign at the Yammacoona Sand Quarry in New South Wales. The work, due to conclude in early 2026, is aimed at upgrading parts of the UPSA resource from inferred to measured status in a new Competent Person’s Report ahead of closing the deal, potentially strengthening the asset’s value and bankability. In parallel, UPSA has secured letters of interest from major UK construction customers for indicative volumes and pricing of its pozzolanic silica alumina sand, is in discussions with potential off-takers in the US, Africa and Australia, and is pursuing formal registration of carbon credits linked to emissions savings from substituting its material for traditional cement in concrete, with the intention of passing those credits on to customers. The flurry of commercial and technical activity underpins UPSA’s positioning in low-carbon building materials and, if the acquisition completes as planned, could enhance Atlas Metals’ exposure to decarbonisation trends in global construction markets.

Atlas Metals Group Raises £500,000 via Share Placement and Expands Market Operations

Atlas Metals Group plc has announced raising £500,000 through a share placement with its CEO, Chris Chadwick, along with additional funds from warrant and fee share issuances. This move increases the company’s share capital to 24,107,609 ordinary shares and reduces the CEO’s temporary voting rights breach through planned share allotments to other parties. The company also appointed CMC Markets UK Plc as a corporate broker, signaling enhanced market collaboration and potential growth opportunities.

Atlas Metals Group Issues New Shares to Enhance Market Compliance

Atlas Metals Group plc has announced the issuance of 5,419,498 new ordinary shares, following shareholder approval and applications to the Financial Conduct Authority and London Stock Exchange. This move includes rectifying a previous oversight regarding the admission of certain shares and settling historic fee arrangements, which will increase the company’s total voting rights to 17,736,541. The admission of these shares is expected to enhance the company’s transparency and compliance with regulatory requirements, potentially impacting shareholder interests and market positioning.

Atlas Metals Group Secures Shareholder Approval for Key Resolutions

Atlas Metals Group plc announced that all resolutions proposed at its recent General Meeting were passed, granting the directors authority to allot shares and disapply pre-emption rights for cash allotments. This outcome strengthens the company’s ability to raise capital and pursue its strategic objectives, potentially enhancing its market position and offering new opportunities for stakeholders.

Atlas Metals Publishes Updated Report on UPSA Acquisition, Highlights Resource Expansion

Atlas Metals Group plc has published an updated Competent Person’s Report (CPR) regarding its proposed acquisition of Universal Pozzolanic Silica Alumina Ltd (UPSA). The report highlights the inclusion of extraction rights for additional lots at the Yammacoona Sand Quarry and estimates an increase in inferred resources. A financial model projects a net present value of A$3.312 billion over 25 years, indicating strong potential for the quarry’s commercial viability. UPSA’s pozzolanic silica alumina sand resource is positioned to significantly reduce carbon emissions in concrete production, attracting interest from major industry players and supporting sustainable infrastructure development globally.

Atlas Metals Group Announces General Meeting to Address Strategic Financing and Potential Takeover

Atlas Metals Group plc has announced the publication of a circular and notice of a general meeting to discuss key resolutions, including the issuance of ordinary shares to address historical matters and strategic financing ahead of a proposed reverse takeover of Universal Pozzolanic Silica Alumina Ltd. The company warns that failure to pass these resolutions could lead to an inability to raise necessary equity funds, potentially resulting in the appointment of administrators and the winding up of the company.