Tertiary Minerals (TYM) AI Stock Analysis

• Market Cap: £3.87M
• Dividend Yield: N/A
• Average Volume (3M): 72.18M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.77
• Revenue Growth: 1.77%
• EPS Growth: 33.33%
• Country: UK
• Employees: 5
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): 0.00
• Shares Outstanding: 5,154,356,000
• 10 Day Avg. Volume: 42,642,776
• 30 Day Avg. Volume: 72,183,738
• PEG Ratio: 0.06
• Price to Book (P/B): 1.26
• Price to Sales (P/S): 8.54
• P/FCF Ratio: -3.02
• 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: 48 Neutral
• Price Target: 0.07 p ▼(-7.50% Downside)
• Action: Reiterated Date: 02/21/26
• Date: Action: Reiterated 02/21/26

The score is held down primarily by weak financial performance—persistent losses and ongoing cash burn—despite the mitigating positive of a debt-free balance sheet. Technicals are mixed (improving longer-term trend but weak near-term momentum), and valuation remains constrained by negative earnings and no dividend support.

Positive Factors

Debt-free balance sheet

A zero-debt balance sheet materially reduces financial risk and interest burden, giving management flexibility to allocate capital to exploration and project advancement. Over a multi-month horizon this conservatism preserves optionality and reduces default risk versus leveraged peers.

Revenue rebound

A clear revenue rebound suggests the company can regain commercial traction after a dip. For an exploration/developer, sustained top-line recovery over several quarters would indicate progress toward monetizing assets and improving operating scalability if maintained with disciplined cost control.

Exploration-focused business model

An asset-centric exploration model offers asymmetric upside if discoveries are made and can be farmed out or sold. Structurally, this model keeps fixed costs relatively low and allows value unlocking via milestones, partnerships, or asset disposals over a medium-term horizon.

Negative Factors

Persistent losses

Continuous annual operating and net losses erode equity and limit internal funding capacity. Over months this undermines the company's ability to self-fund exploration and development, increasing dependency on external capital and raising dilution risk for shareholders.

Consistently negative cash flow

Persistent negative operating and free cash flow indicate the business consumes cash rather than generates it. Structurally this forces recurring financing, constrains investment in project advancement, and increases execution risk absent material improvement in cash generation.

Very small, volatile revenue and weak leverage

A tiny, volatile revenue base with losses multiple times sales shows limited operating leverage and makes funding resource development difficult. Over the medium term this heightens business risk, as capital-intensive mining requires stable revenue or consistent external financing.

Tertiary Minerals Business Overview & Revenue Model

Company Description

Tertiary Minerals plc, together with its subsidiaries, engages in the identification, acquisition, exploration, and development of mineral deposits. The company engages in the development of a multi-commodity project portfolio, including precious metals, base metals, and industrial minerals. It owns interests in the Storuman fluorspar project located in north central Sweden; the Lassedalen fluorspar project located in the south-west of Oslo, Norway; the Pyramid gold project located in the northwest of Reno, Nevada; the Paymaster polymetallic project that includes claims covering an area of 390 acres located in southwest of Tonopah, Nevada; and the Kaaresselkä and Kiekerömaa gold projects located in Finland. The company also holds interests in the Rosendal tantalum project located in south-west Finland; the Lucky copper prospect consisting of 13 claims located in north-east Nevada; and the Mt Tobin prospect comprising claims located to the south of Winnemucca in north central Nevada. Tertiary Minerals plc was incorporated in 1999 and is headquartered in Macclesfield, the United Kingdom.

How the Company Makes Money

null

Tertiary Minerals Financial Statement Overview

Summary

Debt-free balance sheet reduces financial risk, but this is outweighed by persistent losses (negative EBIT and net income every year) and consistently negative operating/free cash flow, indicating ongoing cash burn and potential future dilution risk.

Income Statement

Revenue is very small and has been volatile, with a rebound in 2025 after a decline in 2024. Despite strong reported gross profit margins in prior years, the company is consistently loss-making: EBIT and net income are negative every year from 2021–2025, with net losses roughly 3–7x revenue in most years (and a notably worse year in 2020/2022). Overall, the trajectory shows limited operating leverage and persistent profitability pressure.

Balance Sheet

The balance sheet is conservatively levered: total debt is 0 in 2021–2025 (after debt in 2020), which reduces financial risk. However, equity has swung materially (notably lower in 2023 before recovering), and returns on equity are consistently negative, reflecting ongoing losses that can continue to erode the capital base over time.

Cash Flow

Cash generation is weak: operating cash flow and free cash flow are negative across all periods shown, indicating the business is consuming cash rather than producing it. While free cash flow improved in some years (e.g., 2023 and 2025 versus prior years), the overall pattern remains persistently cash-negative, which can increase reliance on future fundraising or asset sales if this continues.

Breakdown	Sep 2025	Sep 2024	Sep 2023	Sep 2022	Sep 2021
Income Statement
Total Revenue	200.57K	162.66K	181.43K	171.05K	165.06K
Gross Profit	197.76K	160.36K	179.64K	171.05K	165.06K
EBITDA	-581.36K	-548.85K	-429.17K	-474.81K	-392.15K
Net Income	-583.92K	-550.93K	-541.34K	-1.18M	-406.96K
Balance Sheet
Total Assets	1.54M	1.73M	876.43K	901.54K	1.36M
Cash, Cash Equivalents and Short-Term Investments	70.80K	775.75K	121.81K	59.41K	472.73K
Total Debt	0.00	0.00	0.00	0.00	0.00
Total Liabilities	189.60K	149.49K	81.33K	96.09K	92.84K
Stockholders Equity	1.35M	1.58M	795.10K	805.45K	1.27M
Cash Flow
Free Cash Flow	-566.95K	-714.35K	-660.28K	-1.04M	-593.11K
Operating Cash Flow	-565.96K	-427.13K	-419.52K	-474.39K	-355.79K
Investing Cash Flow	-500.48K	-287.00K	-82.84K	-561.40K	-237.28K
Financing Cash Flow	385.18K	1.33M	542.00K	570.00K	441.25K

Tertiary Minerals Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.08
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:TYM, the sentiment is Neutral. The current price of 0.08 is below the 20-day moving average (MA) of 0.09, below the 50-day MA of 0.09, and above the 200-day MA of 0.06, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 40.10 is Neutral, neither overbought nor oversold. The STOCH value of <0.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:TYM.

Tertiary Minerals 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%
TYM	48 Neutral	£3.87M	-1.28	-44.38%	―	1.77%	33.33%
SRES	47 Neutral	£2.15M	-3.68	-19.03%	―	―	-100.00%
ALBA	43 Neutral	£3.93M	-0.78	-44.29%	―	―	―
THR	43 Neutral	£5.67M	-1.02	-66.28%	―	―	4.26%
TM1	32 Underperform	£2.51M	-0.32	―	―	―	17.65%

Tertiary Minerals Corporate Events

Tertiary Minerals Shareholders Back All Resolutions at AGM

Tertiary Minerals plc, the AIM-listed explorer focused on copper and precious metals in Zambia and Nevada, confirmed that all resolutions put to shareholders at its Annual General Meeting were duly passed. The outcome signals continued shareholder support for the company’s strategy in energy transition metals and provides a stable governance backdrop as it advances its exploration and development projects in these key jurisdictions.

The most recent analyst rating on (GB:TYM) stock is a Hold with a £0.09 price target. To see the full list of analyst forecasts on Tertiary Minerals stock, see the GB:TYM Stock Forecast page.

Tertiary Minerals Publishes 2025 Annual Report and Sets Date for 2026 AGM

Tertiary Minerals plc has published its Annual Report for the year ended 30 September 2025, along with the notice of its 2026 Annual General Meeting, on its website for shareholder access. Registered shareholders are being notified by letter or email, and proxy voting for the AGM, scheduled for 19 March 2025 at Mottram Hall in Cheshire, is now open with instructions detailed in the online Annual Report.

The announcement primarily serves to inform investors of the availability of key corporate documents and outline the timetable and process for participating in the upcoming AGM. This ensures shareholders have the necessary information to exercise their governance rights, review the company’s performance over the past financial year, and engage in decision-making on corporate matters at the meeting.

Tertiary Minerals Highlights Zambian Copper-Silver Discovery in 2025 Annual Results

Tertiary Minerals has reported its 2025 annual results alongside a strategic update that highlights a promising copper-silver-zinc discovery at the Mushima North project in Zambia, where shallow drilling has outlined a 450m by 400m mineralised footprint that remains open and is being advanced toward a JORC-compliant Exploration Target and potential Mineral Resource later in 2026. The company is also progressing deep exploration at the Konkola West copper project with KoBold, evaluating further work at the Mukai copper project with First Quantum, advancing a potential epithermal/porphyry target at Brunton Pass in Nevada, appealing a key fluorspar concession decision in Sweden, and strengthening its leadership and funding base through the appointment of a new managing director and a series of equity and convertible loan financings.

Tertiary Minerals Hits Record Silver-Copper Grades at Mushima North

Laboratory assays from Phase 3 drilling at Mushima North’s Target A1 delivered Tertiary’s highest-grade silver-copper intersection to date—97m at 85 g/t silver equivalent from near surface—plus the strongest copper interval yet at 13m grading 1.46% Cu, extending the mineralised footprint to 450m by 400m and pushing mineralisation depth to 103m while remaining open in multiple directions. The results bolster the company’s bulk-tonnage open-pit concept, feed into a JORC Exploration Target due within weeks, and set the foundation for dry-season drilling aimed at a maiden resource by end-2026, underscoring Mushima North’s growing strategic importance for Tertiary and its shareholders.