Taung Gold International Limited (0621) AI Stock Analysis

• Market Cap: HK$998.33M
• Dividend Yield: N/A
• Average Volume (3M): 7.25M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.08
• Revenue Growth: N/A
• EPS Growth: -25.51%
• Country: HK
• Employees: 24
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): >-0.01
• Shares Outstanding: 1,815,147,200
• 10 Day Avg. Volume: 6,849,398
• 30 Day Avg. Volume: 7,250,478
• PEG Ratio: -4.10
• Price to Book (P/B): 0.69
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -33.27
• 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: 43 Neutral
• Price Target: HK$0.60 ▲(8.73% Upside)

The score is primarily constrained by extremely weak operating fundamentals (no revenue, ongoing losses, and persistent cash burn), with additional pressure from bearish technical signals (price below key moving averages, negative MACD, very low RSI/Stochastic). A low-debt, equity-supported balance sheet provides some downside resilience but does not offset the lack of sustainable operating performance.

Positive Factors

Low financial leverage

A near-zero debt-to-equity position materially reduces solvency and interest-rate risk, giving management time to fund exploration and development without immediate refinancing pressure. This balance-sheet resilience supports project continuity during prolonged exploration cycles.

Ownership of South African gold rights

Holding explicit gold mining rights and development-stage projects creates optionality: successful resource delineation or permitting can unlock long-lived cash-generating assets. In a capital-intensive industry, asset ownership is a durable value driver if projects advance toward production.

Free cash flow less negative than net loss

When free cash flow is consistently less negative than accounting losses, it indicates non-cash charges are amplifying reported losses. That profile can preserve liquidity and extend runways, giving the company time to advance exploration without immediate capital raises.

Negative Factors

Zero operating revenue

No sustained operating revenue means the business lacks an established cash-generating core; reliance on financing or asset disposals is required to fund operations. Over months, absence of revenue elevates dilution and execution risk if projects fail to progress toward commercial production.

Persistent cash burn, worsening in 2025

Consistent negative operating and free cash flow, and a worsening burn rate, erode liquidity and increase the probability of equity or debt raises. For an exploration firm, prolonged cash deficits can force asset sales or dilute shareholders before projects reach de-risking milestones.

Negative returns on equity

Repeated negative ROE signals the company is not converting invested capital into shareholder value. Over a multi-month horizon this implies limited capacity to attract accretive capital and heightens the risk that future financing will come at unfavorable terms or dilute existing holders.

Taung Gold International Limited Business Overview & Revenue Model

Company Description

Taung Gold International Limited, an investment holding company, engages in the exploration, development, and mining of gold and associated minerals in the Republic of South Africa and Hong Kong. Its flagship properties include the Evander project, which comprises the No. 6 Shaft and adjacent Twistdraai area further to the south located east-south-east of Johannesburg; and Jeanette project situated in the Free State province of South Africa. The company is also involved in trading minerals. Taung Gold International Limited was incorporated in 2004 and is headquartered in Tsuen Wan, Hong Kong.

How the Company Makes Money

Taung Gold International Limited generates revenue through the exploration and mining of gold. Its primary revenue stream comes from the sale of refined gold extracted from its mining operations. The company focuses on projects with high potential yields, investing in advanced mining technology and efficient processing methods to maximize output. Additionally, strategic partnerships with local and international entities can enhance operational capabilities and expand market reach. The company's earnings are further influenced by global gold prices, operational efficiencies, and the successful development of its mining projects.

Taung Gold International Limited Financial Statement Overview

Summary

Income statement and cash flow are very weak, with zero revenue across periods, recurring operating losses, and consistently negative operating/free cash flow (including worsening burn in 2025). The balance sheet is a clear offset (very low leverage and a relatively stable equity base), but negative ROE in most years indicates ongoing value erosion risk if losses persist.

Income Statement

The company reports zero revenue across all shown annual periods, indicating no operating top-line to absorb costs. Profitability is consistently weak: EBIT and net income are negative in most years, with a particularly large loss in 2021, and losses continuing in 2023–2025. While 2022 shows positive net income, it does not translate into sustained operating profitability (EBIT remains deeply negative), suggesting one-off/non-operating effects rather than a durable earnings base.

Balance Sheet

Leverage appears very low, with debt-to-equity near zero across the period, which reduces solvency risk and financial strain from interest obligations. The equity base is large and relatively stable versus assets, supporting balance-sheet resilience despite ongoing losses. The key weakness is returns: return on equity is negative in most years (only 2022 positive), reflecting value erosion risk if losses persist.

Cash Flow

Cash generation is consistently weak, with operating cash flow negative every year shown and free cash flow also negative throughout, implying the business is cash-consuming. The magnitude of cash burn worsened again in 2025 versus 2024, despite an improvement in the reported free cash flow growth rate (which is influenced by moving between negative bases). A modest positive is that free cash flow is often less negative than net income (free cash flow to net income above 1 in several years), but this is not enough to offset the persistent outflows.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-1.49M	72.00K	-1.51M	-4.84M	-1.23M	-3.06M
EBITDA	-23.34M	-25.54M	-19.16M	-48.70M	68.49M	-662.26M
Net Income	-22.23M	-22.23M	-19.17M	-27.11M	45.15M	-526.23M
Balance Sheet
Total Assets	2.66B	2.66B	2.68B	2.83B	3.44B	3.31B
Cash, Cash Equivalents and Short-Term Investments	65.85M	65.85M	108.87M	136.71M	163.17M	163.14M
Total Debt	369.00K	369.00K	1.79M	282.00K	1.47M	282.00K
Total Liabilities	18.38M	18.38M	27.28M	21.47M	19.68M	22.63M
Stockholders Equity	2.12B	2.12B	2.13B	2.25B	2.74B	2.64B
Cash Flow
Free Cash Flow	-22.45M	-43.91M	-28.68M	-26.93M	-28.93M	-37.39M
Operating Cash Flow	-14.55M	-36.01M	-18.08M	-19.57M	-20.99M	-31.32M
Investing Cash Flow	-3.02M	-5.55M	-10.41M	-5.55M	22.79M	-4.20M
Financing Cash Flow	-732.73K	-1.46M	-1.25M	-1.23M	-1.18M	-1.37M

Taung Gold International Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.55
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0621, the sentiment is Negative. The current price of 0.55 is above the 20-day moving average (MA) of 0.52, below the 50-day MA of 0.59, and below the 200-day MA of 0.62, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 49.37 is Neutral, neither overbought nor oversold. The STOCH value of 65.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0621.

Taung Gold International Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6693	78 Outperform	HK$80.05B	24.17	27.28%	0.54%	―	―
0340	74 Outperform	HK$18.07B	30.66	―	0.44%	6.76%	239.14%
1818	68 Neutral	HK$128.23B	49.53	15.17%	0.16%	44.37%	125.87%
3330	67 Neutral	HK$29.88B	22.29	35.84%	1.40%	70.92%	249.45%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
8299	55 Neutral	HK$5.93B	54.69	14.71%	―	59.18%	28.00%
0621	43 Neutral	HK$998.33M	-44.72	-0.99%	―	―	-25.51%

Taung Gold International Limited Corporate Events

Taung Gold Pushes Back Jeanette Project Timetable Amid Financing Talks and EPC Circular Delay

Taung Gold International Limited has announced a further delay in sending a shareholder circular related to a very substantial acquisition involving an engineering, procurement and construction contract for Phase 1 of its Jeanette Gold Project, as the company and its main contractor, MCC, continue to refine the mining plan and financing arrangements. The updated project timetable shows all key phases of the Jeanette Project—financing, mine construction and gold production—pushed back by one year, with financing now targeted between the third quarter of 2025 and the second quarter of 2026, construction from the third quarter of 2026 to end-2028, and production from 2029 to 2050; the company is holding off on costly Basic Design work until firm funding is secured and is simultaneously in discussions with other PRC state-owned contractors, underscoring ongoing uncertainty around project execution and financing that could affect timelines and stakeholder expectations.

Taung Gold Reports Improved Interim Results Amid Exchange Gains

Taung Gold International Limited announced its unaudited consolidated interim results for the six months ended 30 September 2025, reporting a loss of HK$7,990,000, slightly improved from the previous year’s loss of HK$8,539,000. Despite the loss, the company recorded a total comprehensive income of HK$159,719,000 due to favorable exchange differences from foreign operations, which may positively impact stakeholders by demonstrating resilience in challenging market conditions.

Taung Gold International to Announce Interim Results and Dividend Consideration

Taung Gold International Limited has announced that its board of directors will meet on November 27, 2025, to approve the interim results for the six months ending September 30, 2025, and consider declaring an interim dividend. This meeting is significant as it will provide insights into the company’s financial health and potential shareholder returns, impacting its market positioning and stakeholder interests.