Golden Metal Resources Plc (GMET) AI Stock Analysis

• Market Cap: £296.96M
• Dividend Yield: N/A
• Average Volume (3M): 545.60K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.89
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: UK
• Employees: 5
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Other Precious Metals
• EPS (TTM): >-0.01
• Shares Outstanding: 168,728,210
• 10 Day Avg. Volume: 396,807
• 30 Day Avg. Volume: 545,596
• PEG Ratio: 0.00
• Price to Book (P/B): 5.15
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -10.22
• 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: 56 Neutral
• Price Target: 192.00p ▲(33.33% Upside)

The score is held back primarily by weak financial performance (minimal revenue, widening losses, and rising cash burn) despite a debt-free balance sheet. Technicals provide meaningful support due to a strong uptrend and positive momentum, while valuation remains unfavorable due to negative earnings and no dividend signal.

Positive Factors

Debt-free balance sheet & rising equity

A zero-debt capital structure and materially higher equity provide durable financial flexibility for an explorer. This reduces short-term leverage risk, supports a larger asset base (~20m), and improves the company’s ability to fund drilling or absorb delays without immediate debt refinancing pressure.

Focused exploration business model

A clear, narrow mandate—early-stage precious metals exploration in the US—creates persistent optionality from discovery upside. The model leverages targeted geology, mapping, sampling and drilling expertise, which can convert into scalable resource value over multiple funding cycles if results are positive.

Lean operating footprint

A very small employee base helps limit fixed operating expenses and preserves runway between financing rounds. For an early-stage explorer this structural low overhead enables scalable use of contractors for field campaigns and reduces permanent cash drain while projects mature.

Negative Factors

Minimal revenue, widening losses

Near-zero sales and escalating net losses (from ~-0.85m in 2023 to ~-2.71m in 2025) are a persistent fundamental weakness. Without operational revenue, the company depends on capital markets for funding, increasing dilution risk and limiting ability to self-fund exploration or transition toward sustainable operations.

Steep negative free cash flow and rising cash burn

A large and worsening free cash flow deficit signals heightened near-term financing needs. The step-up in cash burn materially increases funding risk over the next several months, making future dilution, asset sales or aggressive fundraising likelier unless exploration results or financing plans change.

Persistent negative returns on equity

Sustained negative ROE indicates the company is destroying shareholder capital rather than generating returns. Over time this undermines investor confidence and makes it harder to attract non-dilutive capital; reversing negative ROE will require meaningful resource de-risking or a path to commercial revenue.

Golden Metal Resources Plc Business Overview & Revenue Model

Company Description

Guardian Metal Resources Plc is a metal exploration company. The firm's primary goal is to make strategic metal discoveries across its broad project portfolio. Its projects include Golconda Summit Project, Garfield Project, Pilot Mountain Project, Kibby Basin Project, and Stonewall Project. The company was founded on April 22, 2021 and is headquartered in London, the United Kingdom.

How the Company Makes Money

Golden Metal Resources Plc Financial Statement Overview

Summary

Early-stage, loss-making profile: minimal revenue, widening net losses, and sharply higher cash burn weigh heavily. The main offset is a debt-free balance sheet with rising equity, reducing near-term leverage risk but not eliminating funding risk.

Income Statement

Operating performance is weak: the company is pre-revenue/near-zero revenue in most years (only ~30k in 2023) and losses have widened materially, with net loss increasing from about -0.85m (2023) to about -1.38m (2024) and about -2.71m (2025). With minimal revenue, margins are not yet meaningful and profitability has not stabilized, which weighs heavily on the score despite some variability year-to-year typical of an early-stage explorer.

Balance Sheet

The balance sheet is a relative strength: total debt is reported at 0 across periods, and equity has grown strongly (from ~7.1m in 2023 to ~18.2m in 2025), supporting a larger asset base (~20.0m in 2025). The key weakness is persistent negative returns on equity (roughly -12% to -15%), indicating ongoing value dilution/consumption from losses even though leverage risk appears low.

Cash Flow

Cash generation is weak and volatile: operating cash flow is consistently negative (about -0.16m in 2023, -0.66m in 2024, and -1.12m in 2025), and free cash flow is deeply negative, deteriorating sharply to about -9.16m in 2025 from about -2.15m in 2024. While free cash flow moves can be lumpy for resource companies, the step-up in cash burn elevates funding risk and reduces flexibility until operations or financing improve.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	30.00K	0.00
Gross Profit	0.00	0.00	0.00	30.00K	0.00
EBITDA	-576.01K	-2.72M	-1.38M	-848.00K	―
Net Income	-576.01K	-2.71M	-1.38M	-848.00K	-749.81K
Balance Sheet
Total Assets	8.83M	19.95M	12.55M	9.45M	6.13M
Cash, Cash Equivalents and Short-Term Investments	959.38K	1.87M	3.03M	1.37M	40.00K
Total Debt	0.00	0.00	0.00	0.00	0.00
Total Liabilities	239.00K	1.78M	826.00K	414.00K	123.51K
Stockholders Equity	8.59M	18.18M	11.72M	7.11M	7.30M
Cash Flow
Free Cash Flow	-1.14M	-9.16M	-2.15M	-535.00K	-628.35K
Operating Cash Flow	-858.88K	-1.12M	-658.00K	-161.00K	-628.35K
Investing Cash Flow	-276.25K	-8.04M	-1.50M	-374.00K	0.00
Financing Cash Flow	1.91M	7.97M	3.82M	1.86M	664.88K

Golden Metal Resources Plc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SLP	63 Neutral	£284.85M	18.34	7.47%	2.58%	24.10%	182.94%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
GMET	56 Neutral	£296.96M	-104.14	-18.58%	―	―	―
EEE	50 Neutral	£258.77M	-52.00	-43.48%	―	―	―
EUA	41 Neutral	£118.06M	-80.00	-6.61%	―	220.69%	-400.00%

Golden Metal Resources Plc Corporate Events

Guardian Metal Confirms Share Capital and Voting Rights Ahead of U.S. Tungsten Push

Guardian Metal Resources PLC has confirmed that, as of 30 January 2026, it has 168,728,216 ordinary shares of 1 pence each in issue, all carrying voting rights and none held in treasury, establishing the total number of voting rights in the company at 168,728,216. This updated capital figure provides shareholders and market participants with the denominator needed to assess and report changes in significant holdings under UK disclosure rules, ensuring transparency in the company’s ownership structure as it advances strategically important U.S. tungsten projects and seeks to strengthen its role in critical minerals supply chains.

The most recent analyst rating on (GB:GMET) stock is a Hold with a £208.00 price target. To see the full list of analyst forecasts on Golden Metal Resources Plc stock, see the GB:GMET Stock Forecast page.

Guardian Metal Directors Lift Stakes as Nevada Tungsten Push Advances

Guardian Metal Resources plc reported that chief executive officer Oliver Friesen and executive chairman J.T. Starzecki have increased their holdings in the company through on-market share purchases, acquiring a combined 57,350 ordinary shares on 12 January 2026. The director dealings, made at prices around 148–149 pence per share, modestly raise their stakes to 0.64% and 0.09% of issued share capital respectively, signalling management confidence in the company’s strategy to develop its Nevada tungsten assets and strengthen its role in securing a domestic U.S. supply of this critical defense and industrial metal.

The most recent analyst rating on (GB:GMET) stock is a Hold with a £155.00 price target. To see the full list of analyst forecasts on Golden Metal Resources Plc stock, see the GB:GMET Stock Forecast page.

Guardian Metal Finance Director Increases Stake as Tungsten Projects Advance

Guardian Metal Resources plc announced that its finance director, Ben Hodges, has purchased 17,501 shares in the company on the market at 142.99p per share, a transaction worth about £25,024, taking his total beneficial holding to 155,158 shares, or 0.09% of the company’s issued share capital. The director’s share purchase, disclosed under EU Market Abuse Regulation rules, signals internal confidence in the company’s strategy as it advances large-scale tungsten projects in Nevada with U.S. government support and prepares for a prospective U.S. market listing, developments that could strengthen its position in the critical minerals and defense supply chain space.

The most recent analyst rating on (GB:GMET) stock is a Hold with a £148.00 price target. To see the full list of analyst forecasts on Golden Metal Resources Plc stock, see the GB:GMET Stock Forecast page.

Guardian Metal Resources Confirms Total Voting Rights at Year-End

Guardian Metal Resources has confirmed that as of 31 December 2025 it has 168,498,967 ordinary shares in issue, all carrying voting rights and with none held in treasury, establishing the total number of voting rights in the company at the same figure. This disclosure, made in line with UK Financial Conduct Authority transparency rules, provides a clear denominator for investors to calculate and report any notifiable shareholdings or changes in holdings, enhancing visibility over the company’s shareholder base and supporting regulatory compliance for market participants.

Guardian Metal Confirms Share Capital and Voting Rights as It Advances U.S. Tungsten Push

Guardian Metal Resources has confirmed that, as of 31 December 2025, it has 168,498,967 ordinary shares in issue, with no shares held in treasury, giving the company an identical number of total voting rights. This updated capital and voting structure provides investors with the denominator needed to determine disclosure obligations under UK transparency rules and underscores the company’s current equity base as it advances its Nevada tungsten projects and positions itself as a key player in rebuilding a domestic U.S. supply chain for this critical defense metal.

Guardian Metal Awards Shares and Options to Management as Nevada Tungsten Push Accelerates

Guardian Metal Resources has issued 229,249 new ordinary shares to directors under its 2025 Short-Term Incentive Plan at around £1.05 per share and granted a further 3.85 million share options, including 2.225 million to board members and 1.625 million to employees and advisers, with half vesting immediately and the remainder in December 2026. The new equity awards, which follow rapid progress across the group’s Nevada tungsten portfolio and recognition of its strategic role in U.S. critical minerals supply, modestly increase the company’s issued share capital to 168.7 million shares, align management and staff more closely with shareholder interests, and underscore Guardian Metal’s drive to build long-term value ahead of its planned U.S. market listing.

Guardian Metal Lifts Pilot Mountain Resources as U.S.-Backed Tungsten PFS Gathers Pace

Guardian Metal Resources has filed a maiden S-K 1300 Technical Summary Report and updated, pit-constrained Mineral Resource Estimate for the Desert Scheelite deposit at its Pilot Mountain tungsten project in Nevada, showing a 16% increase in indicated resources versus a 2018 scoping study and confirming potential suitability for open-pit mining. Backed by a US$6.2m U.S. Department of War Defense Production Act investment, the company is advancing a comprehensive pre-feasibility study with a large team of specialist engineering and environmental consultants, adding a second drill rig for expanded exploration across multiple zones, and targeting completion of the PFS by end of H1 2026, rapid permit submissions thereafter, and first commercial production before the end of 2028, positioning the project as a potential first new domestic tungsten mine in the U.S. in more than a decade.

Guardian Metal Resources Secures Strong Shareholder Backing at AGM

Guardian Metal Resources PLC announced that all resolutions at the 2025 AGM were successfully passed, including a special resolution to disapply pre-emption rights, signaling strong shareholder support for the company’s strategic direction. As the company progresses its flagship U.S.-based tungsten projects, the favorable vote reinforces its leadership in securing domestic supplies of this critical defense metal amidst evolving global trade challenges.

Guardian Metal Resources Advances U.S. Listing Plans

Guardian Metal Resources PLC is progressing with its plans to offer American Depositary Shares in the U.S. and list on a U.S. securities exchange. The company has consulted with its largest shareholders, UCAM Limited and Duquesne Family Office LLC, granting them a right of first refusal on any new share issues. This move is part of Guardian Metal’s strategy to strengthen its financial position and expand its market presence, potentially impacting its operations and stakeholder relations positively.

Guardian Metal Resources Announces Total Voting Rights Amid Strategic U.S. Tungsten Focus

Guardian Metal Resources PLC announced that as of November 28, 2025, it has 167,998,967 ordinary shares in issue, with no shares held in treasury, establishing the total number of voting rights at the same figure. This information is crucial for shareholders to determine their notification obligations under the FCA’s Disclosure and Transparency Rules. The company’s strategic focus on U.S. tungsten production positions it as a key player in strengthening domestic supply chains for critical defense metals, particularly in light of recent geopolitical dynamics.

Guardian Metal Resources Announces AGM Amid Strategic U.S. Tungsten Expansion

Guardian Metal Resources PLC has announced its Annual General Meeting will be held on December 17, 2025, in London. The company is focused on advancing its tungsten projects in Nevada, supported by a recent $6.2 million award from the U.S. Department of War. This move is part of Guardian’s strategy to strengthen U.S. tungsten production and independence, positioning itself as a key player in the defense metal industry amidst global supply chain challenges.

Guardian Metal Resources Strengthens Financial Advisory Team

Guardian Metal Resources plc has appointed Joh. Berenberg, Gossler & Co KG and Stifel Nicolaus Europe Limited as its financial adviser and joint corporate brokers. These appointments are expected to enhance the company’s capital market relationships and access to institutional investors, aiding in the execution of its strategic mission and growth plans.

Guardian Metal Resources Unveils Significant Porphyry Target at Pilot Mountain

Guardian Metal Resources plc has announced the results of a 3D induced polarisation geophysical survey at its Pilot Mountain project, revealing a significant porphyry target in the Porphyry South zone. The survey results have increased the company’s confidence in the potential of the area, highlighting a larger and more coherent porphyry system than previously understood. This discovery could indicate a copper-enriched shell, making it a compelling future drilling target. The findings suggest that Pilot Mountain may host substantial upside beyond its tungsten deposits, potentially impacting the company’s operations and industry positioning.

Guardian Metal Resources Raises £14,000 Through Option Exercise

Guardian Metal Resources plc announced the exercise of options for 100,000 new ordinary shares, raising £14,000. The new shares will be admitted to trading on AIM, increasing the company’s total issued share capital to 167,998,967 ordinary shares, impacting shareholder voting rights and transparency obligations.

Guardian Metal Resources Strengthens Board with New Appointment

Guardian Metal Resources PLC has appointed Mr. Michael Xavier Schlumpberger as an Independent Non-executive Director, succeeding Mr. Mick Billing who is retiring. This move is part of the company’s strategic efforts to strengthen its board amidst its ongoing projects in tungsten production, which is crucial given the current geopolitical dynamics and the need for a reliable domestic supply chain for this critical metal.

Guardian Metal Resources Expands Precious Metal Exploration in Nevada

Guardian Metal Resources has announced significant developments in its Garfield gold-silver-copper project in Nevada’s Walker Lane Mineral Belt. The company has identified high-grade mineralization through surface sampling and geophysical surveys, leading to the staking of additional mining claims and the identification of compelling drill targets. These findings, combined with a strengthening gold market, have increased interest in Guardian Metal’s precious metal projects, potentially enhancing shareholder value and providing strategic optionality alongside its core tungsten assets.

Guardian Metal Resources Appoints New Non-Executive Director to Strengthen U.S. Tungsten Production

Guardian Metal Resources PLC has announced the appointment of Michael X. Schlumpberger as a Non-Executive Director, replacing Mick Billing who is retiring. Schlumpberger’s extensive experience in the critical minerals sector is expected to significantly benefit Guardian Metal as it advances its tungsten projects in Nevada, aiming to become a leading producer of American-made tungsten. This strategic appointment aligns with the company’s goal to enhance U.S. defense supply chain resilience and strengthen its market position in the critical minerals industry.

Guardian Metal Resources Announces Total Voting Rights

Guardian Metal Resources plc has announced its total voting rights, which stand at 167,598,967 ordinary shares as of 31 October 2025. This information is crucial for shareholders to determine their interest in the company’s share capital under the Financial Conduct Authority’s Disclosure and Transparency Rules.