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Baru Gold (TSE:BARU)
:BARU
Canadian Market

Baru Gold (BARU) AI Stock Analysis

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TSE:BARU

Baru Gold

(BARU)

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Neutral 44 (OpenAI - 5.2)
Rating:44Neutral
Price Target:
C$0.06
▲(5.00% Upside)
The score is primarily weighed down by very weak financial performance (pre-revenue losses, negative cash flow, and higher leverage). Technicals also lean bearish with price below key moving averages and a negative MACD. Positive corporate updates improve the outlook for operational readiness but remain contingent on successful execution and approvals, while valuation metrics provide limited support due to ongoing losses and no dividend.
Positive Factors
Production Readiness
Final technical documentation submitted for Sangihe Project indicates imminent production start, enhancing operational status and market positioning, crucial for future revenue generation.
Resource Estimate
The updated resource estimate for Sangihe Project, compliant with NI 43-101, supports production plans and reflects potential for significant gold and silver extraction, underpinning future growth.
Strategic Investment
The $35M investment from a Singapore-based family office provides significant capital to advance the Sangihe Project, potentially accelerating production and improving long-term revenue prospects.
Negative Factors
Financial Challenges
Consistent losses and lack of revenue generation highlight ongoing financial difficulties, which could impede operational sustainability and limit strategic flexibility.
High Debt Levels
A high debt-to-equity ratio suggests financial leverage, which may strain cash flows and limit Baru Gold's ability to invest in growth opportunities or weather economic downturns.
Negative Cash Flow
Negative cash flows indicate reliance on external financing, posing risks if funding becomes less accessible, potentially affecting operational continuity and strategic initiatives.

Baru Gold (BARU) vs. iShares MSCI Canada ETF (EWC)

Baru Gold Business Overview & Revenue Model

Company DescriptionBaru Gold Corporation engages in the exploration and evaluation assets in Indonesia. The company holds a 70% interest in Sangihe gold-silver project located on the island of Sangihe covering an area of 42,000 hectares. It also holds interest in the Miwah gold project that consists of three contiguous mining business permits covering an area of 30,000 hectares located to the southeast of Banda Aceh in Aceh Province. The company was formerly known as East Asia Minerals Corporation and changed its name to Baru Gold Corporation in October 2020. Baru Gold Corporation is headquartered in Vancouver, Canada.
How the Company Makes MoneyBaru Gold makes money through the exploration and development of gold mining projects. Its primary revenue stream comes from the sale of gold extracted from its mining operations. The company invests in exploration activities to identify promising gold deposits, which are then developed into operational mines. Revenue is generated by extracting gold from these mines and selling it on the open market. Significant partnerships with local stakeholders and compliance with regional mining regulations also play a crucial role in facilitating the company's operations and revenue generation.

Baru Gold Financial Statement Overview

Summary
Baru Gold is facing substantial financial challenges with no revenue generation and consistent losses. The high debt-to-equity ratio and negative cash flows indicate potential solvency risks.
Income Statement
Baru Gold's income statement reveals consistent losses over the years, with zero revenue and substantial negative net income. The company experiences negative gross profit and EBIT margins due to the lack of revenue generation capabilities. This trend highlights a significant challenge in achieving profitability.
Balance Sheet
The balance sheet shows a high debt-to-equity ratio, indicating a leveraged position. Stockholders' equity has been declining, with substantial liabilities compared to assets. This financial structure suggests limited flexibility and potential solvency risks if the trend continues.
Cash Flow
Cash flow analysis shows negative free cash flow and operating cash flow, indicating challenges in covering operational expenses. The company is reliant on external financing to sustain operations, which poses risks if financing becomes less accessible.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue0.000.000.000.007.03K0.00
Gross Profit-74.76K-65.56K-43.13K-125.00K-125.00K-52.29K
EBITDA-2.14M-2.61M-1.47M-2.00M-1.80M-4.04M
Net Income-2.99M-3.26M-2.30M-3.28M-2.30M-4.07M
Balance Sheet
Total Assets10.50M11.86M9.70M9.40M8.20M6.55M
Cash, Cash Equivalents and Short-Term Investments333.93K885.90K48.33K38.11K511.37K1.93M
Total Debt3.16M3.15M2.69M1.95M1.63M10.01K
Total Liabilities9.80M8.97M8.41M6.89M3.14M1.43M
Stockholders Equity696.43K2.89M1.29M2.51M5.06M5.12M
Cash Flow
Free Cash Flow-465.25K-457.22K-595.48K-734.14K-4.86M-4.82M
Operating Cash Flow-650.77K-457.22K-505.54K-283.43K-2.30M-3.22M
Investing Cash Flow87.12K-2.08M-89.94K-450.71K-2.56M-1.59M
Financing Cash Flow858.97K3.38M605.70K260.88K3.44M6.18M

Baru Gold Technical Analysis

Technical Analysis Sentiment
Negative
Last Price0.06
Price Trends
50DMA
0.07
Negative
100DMA
0.08
Negative
200DMA
0.07
Negative
Market Momentum
MACD
<0.01
Negative
RSI
44.48
Neutral
STOCH
33.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:BARU, the sentiment is Negative. The current price of 0.06 is below the 20-day moving average (MA) of 0.07, below the 50-day MA of 0.07, and below the 200-day MA of 0.07, indicating a bearish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 44.48 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:BARU.

Baru Gold Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
54
Neutral
C$25.87M-21.78-5.76%
54
Neutral
C$32.33M-28.13-6.05%34.69%
53
Neutral
C$37.56M-59.21-7.47%-52.00%
49
Neutral
C$33.97M-3.70-201.31%-58.16%
44
Neutral
C$23.85M-6.075.41%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:BARU
Baru Gold
0.07
<0.01
8.33%
TSE:PHNM
Phenom Resources Corp
0.22
-0.07
-24.14%
TSE:PUMA
Puma Exploration
0.18
0.10
125.00%
TSE:CANX
CANEX Metals
0.23
0.19
492.11%
TSE:VAU
Viva Gold
0.19
0.04
32.14%
TSE:KALO
Kalo Gold Holdings
0.31
0.13
69.44%

Baru Gold Corporate Events

Business Operations and StrategyExecutive/Board Changes
Baru Gold Strengthens Leadership with Strategic Appointment
Positive
Dec 10, 2025

Baru Gold Corp has appointed Brigadier General (Ret.) Rudolf Samuel Warouw as Commissioner of its Indonesian subsidiary, PT Tambang Mas Sangihe. This strategic move is expected to enhance the company’s operational success and community integration for the Sangihe Gold Project. Warouw’s extensive military background and deep-rooted connections in North Sulawesi position him to effectively engage local stakeholders, fostering trust and accelerating project mandates. His appointment is seen as a strategic advantage for Baru Gold, aiding in securing necessary trust and approvals to advance the Sangihe Gold Project into production.

Business Operations and StrategyExecutive/Board Changes
Baru Gold Strengthens Board with Industry Veteran and Grants Stock Options
Positive
Nov 17, 2025

Baru Gold Corporation has appointed Matthew Charles Farmer to its Board of Directors, bringing over 30 years of experience in exploration and mining across Southeast Asia, Australasia, and the Americas. His extensive background in Indonesia, including leadership roles in major mining companies and significant contributions to world-class deposits, is expected to enhance Baru Gold’s exploration and project development capabilities. Additionally, the company has granted stock options to Mr. Farmer and other key personnel, aligning their interests with the company’s growth objectives.

Business Operations and StrategyExecutive/Board Changes
Baru Gold Strengthens Board with New Appointment and Stock Option Grant
Positive
Oct 31, 2025

Baru Gold Corporation has appointed Keith Margetson to its board of directors, bringing over four decades of public accounting experience. The company has also granted him 300,000 stock options, subject to TSX Venture Exchange approval, as part of its stock option plan. This move is expected to strengthen Baru Gold’s governance and potentially enhance its strategic positioning in the gold development sector.

Business Operations and StrategyProduct-Related Announcements
Baru Gold Advances Production Readiness with New Gold Recovery Plant
Positive
Oct 15, 2025

Baru Gold Corp. has announced progress in its Sangihe Gold Project by finalizing the design and construction plans for an Electrowinning Elution Column Plant. This facility will automate gold recovery, enhancing efficiency and environmental sustainability. The plant will be manufactured locally in Indonesia, supporting the local economy and reducing costs. With a modular design, the plant can initially produce 1,500 ounces of gold per month, with potential to double output. This strategic move, led by COO Sri Darmawan, positions Baru Gold for rapid production commencement once approvals are secured, potentially impacting its operational readiness and market position positively.

Business Operations and Strategy
Baru Gold’s Environmental Monitoring Efforts on Sangihe Island Gain Recognition
Positive
Oct 15, 2025

Baru Gold Corp. has been highlighted for its role in environmental monitoring on Sangihe Island, Indonesia, where illegal mining activities have caused significant environmental damage. The company’s baseline environmental data has been crucial in assessing the impact of these activities, reinforcing its commitment to transparency and environmental stewardship. Baru Gold’s efforts have garnered local support for its regulated mining operations, seen as a means to provide economic benefits while protecting the environment. The company plans to share its findings with Indonesian authorities to advocate for formal, sustainable mining practices.

Business Operations and Strategy
Baru Gold Establishes Logistics Hub to Boost Sangihe Operations
Positive
Oct 15, 2025

Baru Gold Corp. has opened a new regional office in Manado, North Sulawesi, to serve as a logistics hub for its Sangihe Gold Project. This strategic move is aimed at enhancing operational efficiency by leveraging Manado’s logistical advantages, including frequent sea and air connections to Sangihe Island, and facilitating coordination with local authorities and international partners. The establishment of this hub is expected to strengthen Baru Gold’s operational capabilities and support the transition into production, offering significant logistical and administrative benefits.

Business Operations and StrategyRegulatory Filings and Compliance
Baru Gold Advances Sangihe Project with High-Tech Survey
Positive
Oct 15, 2025

Baru Gold Corp. has completed a comprehensive land and aerial survey at its Sangihe Gold Project, using advanced LiDAR technology to create a high-resolution topographic map. This survey supports the construction of an automated gold recovery plant, enhances the drill exploration program, and strengthens environmental compliance. The detailed data will allow Baru Gold to optimize plant construction, identify new drill targets, and ensure responsible environmental management, ultimately improving operational efficiency and stakeholder confidence.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Dec 30, 2025