Belo Sun Mining (BSX) AI Stock Analysis

• Market Cap: C$301.30M
• Dividend Yield: N/A
• Average Volume (3M): 294.23K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.17
• Revenue Growth: N/A
• EPS Growth: 32.22%
• Country: CA
• Employees: 40
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): 0.00
• Shares Outstanding: 470,784,030
• 10 Day Avg. Volume: 190,646
• 30 Day Avg. Volume: 294,226
• PEG Ratio: 0.16
• Price to Book (P/B): 1.91
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -7.37
• 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: 52 Neutral
• Price Target: C$0.59 ▼(-2.33% Downside)

The score is held back primarily by weak financial performance (no revenue, ongoing losses, and continued cash burn) and a loss-driven valuation profile. This is partially offset by strong technical momentum (price above key moving averages with positive MACD) and a supportive financing event that may strengthen liquidity, albeit with dilution and governance risks.

Positive Factors

Favorable Legal Ruling

The favorable legal ruling for project permitting is a significant step forward, potentially accelerating the development of the Volta Grande Gold Project and enhancing long-term project viability.

New Board Appointment

Strategic board changes can bring fresh perspectives and expertise, potentially improving governance and strategic execution, which is crucial for long-term project success and shareholder value creation.

No Debt

Having no debt provides financial flexibility and reduces risk, allowing the company to focus on project development without the burden of interest payments, enhancing its long-term financial stability.

Negative Factors

No Revenue Generation

The lack of revenue generation poses a significant challenge, as it limits the company's ability to fund operations and project development internally, increasing reliance on external financing.

Consistent Losses

Ongoing losses highlight operational inefficiencies and financial strain, which can hinder long-term growth and sustainability unless addressed through strategic changes or improved project execution.

Negative Cash Flows

Negative cash flows indicate that the company is consuming more cash than it generates, which is unsustainable in the long term unless offset by successful project development or additional financing.

Belo Sun Mining Business Overview & Revenue Model

Company Description

Belo Sun Mining Corp., through its subsidiaries, operates as a gold exploration and development company in Brazil. Its flagship property is its 100% interest in the Volta Grande Gold project consisting of four mining concession applications, 11 exploration permits, and 63 exploration permits extension submitted covering a total area of 175,498 hectares located in the northern region of Pará State, Brazil. The company was formerly known as Verena Minerals Corporation and changed its name to Belo Sun Mining Corp. in July 2010. Belo Sun Mining Corp. was founded in 1996 and is headquartered in Toronto, Canada.

How the Company Makes Money

Belo Sun Mining makes money through the exploration, development, and eventual production and sale of gold from its mining projects. The company's primary revenue stream is anticipated to come from the extraction and sale of gold once its Volta Grande Gold Project reaches production. Belo Sun’s earnings are significantly influenced by the market price of gold, operational efficiency, and the successful advancement of its mining projects. The company may also engage in strategic partnerships or joint ventures to enhance project development and financing, which can also contribute to its revenue streams.

Belo Sun Mining Financial Statement Overview

Summary

Belo Sun Mining faces significant financial difficulties with no revenue generation and consistent losses. The absence of debt is a positive aspect, but the reliance on equity financing and negative cash flows highlight sustainability risks. Immediate strategic changes are needed to stabilize the financial outlook.

Income Statement

Belo Sun Mining has not generated any revenue over the reporting periods. The gross profit, EBIT, and net income are negative, indicating ongoing losses. The lack of revenue growth and negative margins highlight significant financial challenges.

Balance Sheet

The company has no debt, leading to a favorable debt-to-equity ratio. However, the stockholders' equity has been decreasing, and the return on equity is negative due to consistent net losses. The equity ratio remains strong, suggesting reliance on equity financing.

Cash Flow

Operating cash flows are negative, reflecting cash burn without revenue generation. Free cash flow is also negative, indicating cash outflows exceeding inflows. The company manages to maintain liquidity through cash reserves, but sustainability is a concern.

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	-36.98K	-38.00K	-144.00K	-46.87K	-59.50K	-97.46K
EBITDA	-8.70M	-7.25M	-10.57M	-13.30M	-6.12M	-5.39M
Net Income	-8.57M	-7.29M	-10.72M	-13.35M	-6.21M	-5.49M
Balance Sheet
Total Assets	18.24M	23.34M	26.81M	36.74M	48.40M	54.49M
Cash, Cash Equivalents and Short-Term Investments	6.38M	10.88M	15.10M	17.58M	23.96M	30.01M
Total Debt	0.00	0.00	0.00	8.92K	23.09K	40.13K
Total Liabilities	2.05M	3.11M	1.72M	1.50M	1.85M	3.65M
Stockholders Equity	16.19M	20.23M	25.09M	35.24M	46.55M	50.84M
Cash Flow
Free Cash Flow	-5.26M	-5.25M	-4.67M	-9.90M	-5.90M	-4.37M
Operating Cash Flow	-5.10M	-5.24M	-4.62M	-9.89M	-5.89M	-4.36M
Investing Cash Flow	428.77K	-9.00K	1.90M	3.53M	-3.92K	5.07M
Financing Cash Flow	1.15M	1.16M	-9.65K	-117.67K	-16.77K	1.21M

Belo Sun Mining Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.60
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:BSX, the sentiment is Positive. The current price of 0.6 is above the 20-day moving average (MA) of 0.56, above the 50-day MA of 0.45, and above the 200-day MA of 0.30, indicating a bullish trend. The MACD of 0.05 indicates Negative momentum. The RSI at 65.90 is Neutral, neither overbought nor oversold. The STOCH value of 88.67 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:BSX.

Belo Sun Mining 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%
LN	58 Neutral	C$241.38M	-35.19	-19.45%	―	―	80.28%
STLR	57 Neutral	C$243.43M	-8.23	-23.72%	―	―	15.32%
WGO	56 Neutral	C$270.15M	-96.83	-2.02%	―	―	-40.00%
BSX	52 Neutral	C$301.30M	-34.97	-47.58%	―	―	32.22%
GRZ	49 Neutral	C$671.25M	-15.60	-39.84%	―	―	-141.86%

Belo Sun Mining Corporate Events

Belo Sun to Raise Up to US$30 Million in Private Placement Backed by La Mancha

Belo Sun Mining Corp. has announced a non-brokered private placement of common shares at C$0.43 per share to raise up to US$30 million (C$41.3 million), with closing targeted around February 24, 2026, subject to final approval from the Toronto Stock Exchange. Existing shareholder La Mancha Investments has committed to participate and, alongside other current investors, is expected to provide the majority of the funding, likely becoming a new control person with a stake of at least 20%, which will require approval from disinterested shareholders at a special meeting under TSX rules. The proceeds will be used for working capital and general corporate purposes, including commitments to local communities and stakeholders tied to the Volta Grande project, and La Mancha’s participation is classified as a related-party transaction, though Belo Sun is relying on exemptions from formal valuation and minority approval requirements because the transaction value is below 25% of its market capitalization.