Tertiary Minerals (TYM) AI Stock Analysis

• Market Cap: £3.74M
• Dividend Yield: N/A
• Average Volume (3M): 72.18M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.86
• 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: 0.11
• Price to Book (P/B): 1.30
• Price to Sales (P/S): 12.63
• P/FCF Ratio: -2.87
• 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: 53 Neutral
• Price Target: ―

The overall stock score of 53 reflects a company in a challenging financial situation with consistent losses and negative cash flows. However, its strong equity position and promising exploration projects in Zambia and Nevada offer potential upside. The technical indicators suggest neutral momentum, but valuation concerns persist due to negative earnings.

Positive Factors

Promising Exploration Projects

The promising results from the Mukai Copper Project indicate potential for further exploration and development, which could enhance Tertiary Minerals' industry positioning and stakeholder value over the long term.

Strong Equity Position

A strong equity position with no debt provides Tertiary Minerals with financial stability and flexibility, allowing it to invest in exploration and development without the burden of debt servicing.

Strategic Partnerships

Partnerships with established companies like First Quantum Minerals enhance Tertiary Minerals' capabilities in project development, potentially leading to successful joint ventures and increased revenue opportunities.

Negative Factors

Consistent Losses

Ongoing losses and negative cash flows indicate operational inefficiencies and financial challenges, which could hinder the company's ability to sustain long-term growth and investment in new projects.

Declining Revenue

A decline in revenue suggests potential issues in project monetization or market demand, which could impact the company's ability to fund exploration and development activities.

Negative Profit Margins

Negative profit margins reflect the company's inability to cover its costs, posing a risk to financial sustainability and limiting resources available for future growth and exploration initiatives.

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

Tertiary Minerals makes money through the exploration and development of its mineral projects, aiming to sell or partner with other companies for the extraction and commercialization of these minerals. The company generates revenue by advancing its projects to a stage where they can be sold or joint ventured with larger mining companies, who then undertake the actual mining. Additionally, Tertiary Minerals may earn income from royalties or profit-sharing agreements from these partnerships. The company's earnings are also influenced by its ability to secure and maintain strategic partnerships and investments, which support its exploration activities and project development.

Tertiary Minerals Financial Statement Overview

Summary

Tertiary Minerals shows a challenging financial position with consistent losses and negative cash flows. While it has a strong equity position and no debt, the declining revenue and negative profitability heavily impact its financial health.

Income Statement

The company shows a declining revenue trend with a consistent negative net income, leading to negative profit margins. Gross Profit Margin remains at 100% due to no cost of goods sold, but the Net Profit Margin is significantly negative. Revenue has slightly decreased by 10.34% from the previous year. EBIT and EBITDA margins are negative, indicating operational losses.

Balance Sheet

The balance sheet reflects a strong equity position with a Debt-to-Equity Ratio of zero, suggesting no leverage. The Return on Equity is negative due to losses, but the Equity Ratio is a solid 91.37%, indicating a healthy asset base supported largely by equity.

Cash Flow

The company has negative free cash flow, though it has improved slightly from previous years. Operating Cash Flow is negative, showing challenges in generating cash from operations, but strong financing cash flows help mitigate operational cash shortfalls.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	186.11K	162.66K	181.43K	171.05K	165.06K	175.75K
Gross Profit	183.51K	160.36K	179.64K	171.05K	165.06K	175.75K
EBITDA	-527.30K	-548.85K	-429.17K	-474.81K	-392.15K	-469.75K
Net Income	-529.90K	-550.93K	-541.34K	-1.18M	-406.96K	-2.50M
Balance Sheet
Total Assets	1.47M	1.73M	876.43K	901.54K	1.36M	1.30M
Cash, Cash Equivalents and Short-Term Investments	93.50K	775.75K	121.81K	59.41K	472.73K	622.86K
Total Debt	0.00	0.00	0.00	0.00	0.00	420.00K
Total Liabilities	102.60K	149.49K	81.33K	96.09K	92.84K	486.19K
Stockholders Equity	1.37M	1.58M	795.10K	805.45K	1.27M	809.68K
Cash Flow
Free Cash Flow	-460.19K	-714.35K	-660.28K	-1.04M	-593.11K	-671.11K
Operating Cash Flow	-456.84K	-427.13K	-419.52K	-474.39K	-355.79K	-470.00K
Investing Cash Flow	-539.65K	-287.00K	-82.84K	-561.40K	-237.28K	-143.62K
Financing Cash Flow	836.00K	1.33M	542.00K	570.00K	441.25K	1.19M

Tertiary Minerals Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.07
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:TYM, the sentiment is Positive. The current price of 0.07 is above the 20-day moving average (MA) of 0.06, above the 50-day MA of 0.06, and above the 200-day MA of 0.05, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 72.77 is Negative, neither overbought nor oversold. The STOCH value of 71.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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	53 Neutral	£3.74M	-3.60	-44.38%	―	1.77%	33.33%
THR	44 Neutral	£5.15M	-0.56	-66.28%	―	―	4.26%
ALBA	43 Neutral	£4.26M	-0.53	-44.29%	―	―	―
SRES	41 Neutral	£1.95M	-1.25	-37.00%	―	―	-100.00%
TM1	32 Underperform	£2.51M	-0.32	―	―	―	17.65%

Tertiary Minerals Corporate Events

Tertiary Minerals Announces Leadership Transition

Tertiary Minerals plc announced a significant board change with Patrick Cheetham, the founder and Executive Chairman, transitioning to the role of Non-Executive Chairman effective from January 1, 2026. This change follows the appointment of Dr. Richard Belcher as Managing Director in March 2025 and is part of the company’s ongoing development strategy. The company remains committed to advancing its exploration portfolio, which includes a recent silver-copper-zinc discovery in Zambia, and continues to focus on growth in the energy transition metals sector.

Tertiary Minerals Advances Exploration at Mushima North Project

Tertiary Minerals plc has commenced work to produce a JORC-compliant Exploration Target for its silver-copper-zinc prospect, Target A1, at the Mushima North Project in Zambia. The Exploration Target, expected to be finalized in Q1 2026, will provide insights into the exploration potential and guide future drilling plans. This development is significant for Tertiary’s operations as it aims to produce a maiden mineral resource estimate by Q4 2026, enhancing its industry positioning and offering potential benefits to stakeholders.

Tertiary Minerals PLC Announces Total Voting Rights Update

Tertiary Minerals PLC has announced that, as of 28 November 2025, the total number of voting rights in the company is 5,154,355,727, with no shares held in treasury. This figure is significant for shareholders as it serves as the denominator for calculating notifications of interest or changes in interest in the company’s share capital, in accordance with the Financial Conduct Authority’s Disclosure and Transparency Rules.

Tertiary Minerals Directors Increase Shareholdings, Signaling Confidence

Tertiary Minerals plc announced that its directors, including Managing Director Richard Belcher and Executive Chairman Patrick Cheetham, have purchased additional shares in the company. This move increases the board’s total shareholding to 4.08% of the issued share capital, potentially signaling confidence in the company’s strategic direction and future prospects.

Tertiary Minerals Reports Promising Drilling Results at Mushima North Project

Tertiary Minerals plc announced promising preliminary results from its Phase 3 drilling program at Target A1, part of the Mushima North Project in Zambia. The company reported significant copper and silver mineralization, with the deepest hole reaching 127m. Despite the early onset of heavy rains pausing the program, the results have extended the known mineralization area and support the company’s exploration model. Tertiary plans to advance the project with JORC Exploration Target work and further studies to assess the resource potential, aiming for a Maiden Mineral Resource Estimate in 2026.

Tertiary Minerals Secures £450,000 Loan to Boost Mushima North Exploration

Tertiary Minerals plc has secured a £450,000 unsecured convertible loan from Sanderson Capital Partners to expand its exploration program at the Mushima North Project in Zambia. This funding will allow the company to accelerate its drilling activities and undertake additional mineralogical studies, aiming to produce a maiden mineral resource within the next 12 months. The loan agreement provides flexibility for Tertiary to increase its exploration efforts, potentially enhancing its market position and offering significant value to its stakeholders.

Tertiary Minerals Commences Drilling at Mushima North Project in Zambia

Tertiary Minerals plc has commenced a drilling program at Target A1, part of the Mushima North Project in Zambia, aiming to explore polymetallic mineralization, particularly silver, copper, and zinc. The drilling seeks to expand the known mineralization laterally and at depth, with the goal of establishing an Exploration Target and a maiden mineral resource within the next year. This initiative is expected to enhance Tertiary’s positioning in the mineral exploration industry by potentially increasing its resource base, thereby benefiting stakeholders through future development opportunities.

Tertiary Minerals PLC Announces Total Voting Rights Update

Tertiary Minerals PLC has announced that as of 31 October 2025, the total number of voting rights in the company is 5,116,855,727, following the Financial Conduct Authority’s Disclosure and Transparency Rules. This figure is crucial for shareholders to determine their notification requirements regarding their interest in the company’s share capital.

Tertiary Minerals Launches Phase 3 Drilling at Mushima North Project

Tertiary Minerals plc announced the commencement of its Phase 3 drilling program at Target A1 within the Mushima North Project in Zambia. This program aims to explore further extensions and continuity of mineralization, particularly in high-grade silver and copper zones, with the goal of advancing towards a maiden mineral resource estimate. The drilling is set to begin imminently, with preparations already underway, and is expected to enhance the company’s strategic positioning in the mining sector by potentially increasing shareholder value.

Tertiary Minerals Advances Konkola West Project with KoBold Metals

Tertiary Minerals plc announced that KoBold Metals has completed Stage 1 of its Earn-In Agreement on the Konkola West Copper Project, significantly exceeding the drilling requirements. KoBold will proceed to Stage 2, involving up to $6 million in exploration expenditure, and a new joint venture will be formed. This development underscores the strategic importance of the project in the Central African Copperbelt and provides Tertiary with potential future benefits while minimizing risk and capital expenditure.

Tertiary Minerals Appoints AlbR Capital as Joint Corporate Broker

Tertiary Minerals plc has appointed AlbR Capital Limited as its Joint Corporate Broker alongside SP Angel Corporate Finance LLP, following the merger of Peterhouse Capital Limited and Novum Securities Limited into AlbR Capital Limited. This strategic move is expected to enhance Tertiary’s market engagement and support its ongoing projects in the energy transition metals sector.

Tertiary Minerals Raises £100,000 for Zambian Exploration

Tertiary Minerals plc has raised £100,000 through a share placing with significant shareholder Mr. Stuart Packwood. The funds will support further exploration at the company’s silver-copper-zinc prospect, Target A1, in Zambia’s Mushima North Project. The capital will facilitate an aggressive drilling program aimed at expanding the mineralisation footprint and working towards a maiden mineral resource estimate. This development underscores investor confidence and supports Tertiary’s strategic focus on advancing its promising projects in the energy transition metals sector.

Tertiary Minerals Unveils Promising Silver-Copper-Zinc Discovery in Zambia

Tertiary Minerals plc has announced significant findings at its Target A1 prospect within the Mushima North Project in Zambia, revealing promising silver-copper-zinc mineralization. The discovery, characterized by near-surface mineralization extending to a depth of 84 meters, is comparable to other polymetallic deposits globally and is considered a potential major discovery for the company. The project benefits from a technical cooperation agreement with First Quantum Minerals, enhancing exploration efforts with historical data and geological expertise. The company plans to conduct further mineralogical studies and metallurgical testing to expedite the project’s progression towards a maiden mineral resource estimation within the next year.

Tertiary Minerals Unveils Record Silver-Copper Intersection at Mushima North

Tertiary Minerals plc has announced significant drilling results from its Mushima North Project in Zambia, revealing the highest-grade silver and copper intersection to date at Target A1. The mineralization has been extended further north by approximately 100 meters, now covering an area 450 meters long and up to 400 meters wide, with potential for further expansion. These results support the company’s open-pit silver exploration model and highlight the potential for copper, enhancing the project’s significance for stakeholders.