Freeman Gold Corp (FMAN) AI Stock Analysis

• Market Cap: C$132.28M
• Dividend Yield: N/A
• Average Volume (3M): 630.23K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.90
• Revenue Growth: N/A
• EPS Growth: -58.88%
• Country: CA
• Employees: 1
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): -0.01
• Shares Outstanding: 307,626,500
• 10 Day Avg. Volume: 682,429
• 30 Day Avg. Volume: 630,233
• PEG Ratio: 4.62
• Price to Book (P/B): 0.48
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -8.91
• 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: 54 Neutral
• Price Target: C$0.22 ▼(-37.43% Downside)

The score is held back primarily by weak financial performance (no revenue, widening losses, and continued cash burn). Offsetting factors include improving technical trend and several positive project milestones (metallurgy, drilling, feasibility advancement, strategic investor), while valuation remains constrained by negative earnings and no dividend support.

Freeman Gold Corp Business Overview & Revenue Model

Company Description

Freeman Gold Corp. engages in the acquisition, exploration, and evaluation of mineral properties in Canada and the United States. The company holds a 100% interest in the Lemhi gold project comprising 10 patented mining claims, 1 patented millsite, and 333 unpatented claims covering an area of approximately 6,739 acres of mineral rights and 615 acres of surface rights located in Lemhi County, Idaho. Freeman Gold Corp. is based in Vancouver, Canada.

How the Company Makes Money

Freeman Gold Corp generates revenue primarily through the exploration and development of its gold mining assets. The company aims to increase the value of its projects by discovering additional gold resources through extensive drilling and geological analysis. Once sufficient resources are identified and economically viable plans are established, Freeman Gold may generate income through the sale of its assets, entering joint ventures, or transitioning into production. Key revenue streams include potential future gold production, strategic partnerships, and investors who fund the exploration activities. The company's financial success is heavily dependent on the price of gold and its ability to efficiently manage exploration and development costs.

Freeman Gold Corp Financial Statement Overview

Summary

Exploration-stage profile with no revenue, persistent losses, and ongoing cash burn (TTM operating and free cash flow negative). Balance sheet is a relative support with modest leverage versus equity, but widening TTM losses and reliance on external funding keep the score low.

Income Statement

Across both annual periods and TTM (Trailing-Twelve-Months), the company reports no revenue and persistent operating losses, consistent with an exploration-stage profile. Losses have widened materially in TTM (EBIT of about -$4.0M and net loss of about -$3.8M) versus the last annual period (net loss near breakeven), highlighting elevated spend and earnings volatility. A key positive is that losses are being funded without meaningful operating profitability pressure yet, but the lack of revenue and negative earnings trajectory keep the score low.

Balance Sheet

The balance sheet is a relative strength: equity is sizable versus debt (TTM debt ~$3.5M vs equity ~$40.5M), implying modest leverage for the sector/stage. Total assets are largely supported by equity, which provides financial flexibility. The main weakness is weak returns on shareholder capital (TTM return on equity around -4.2%) and increasing debt versus prior annual periods (including years with minimal/zero debt).

Cash Flow

Cash generation remains pressured with consistently negative operating cash flow across all periods (TTM operating cash flow about -$2.2M) and negative free cash flow (TTM about -$2.9M), indicating ongoing cash burn. A partial positive is that free cash flow was less negative than the prior annual period (positive free-cash-flow growth in TTM), but overall funding needs remain high and cash flows do not currently self-sustain operations.

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	0.00	0.00	0.00	-126.00K	-87.03K	-16.00K
EBITDA	-3.31M	-30.10K	27.66K	-3.10M	-3.40M	-4.27M
Net Income	-3.77M	-32.24K	-1.67M	726.44K	-3.49M	-11.25M
Balance Sheet
Total Assets	45.39M	30.92M	28.35M	29.97M	31.33M	14.18M
Cash, Cash Equivalents and Short-Term Investments	14.79M	4.41M	2.33M	5.31M	20.05M	5.07M
Total Debt	3.49M	0.00	33.69K	107.06K	0.00	0.00
Total Liabilities	4.84M	477.95K	1.44M	1.85M	5.25M	910.79K
Stockholders Equity	40.55M	30.44M	26.90M	28.12M	26.08M	13.27M
Cash Flow
Free Cash Flow	-2.88M	-1.64M	-1.16M	-14.82M	-4.97M	-7.78M
Operating Cash Flow	-2.21M	-952.68K	-1.16M	-2.07M	-2.35M	-2.29M
Investing Cash Flow	-3.54M	-549.88K	-1.74M	-12.86M	-2.62M	-5.52M
Financing Cash Flow	18.79M	3.54M	-78.87K	-34.53K	19.86M	12.87M

Freeman Gold Corp Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.35
• 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 TSE:FMAN, the sentiment is Positive. The current price of 0.35 is above the 20-day moving average (MA) of 0.34, above the 50-day MA of 0.26, and above the 200-day MA of 0.19, indicating a bullish trend. The MACD of 0.05 indicates Negative momentum. The RSI at 72.03 is Negative, neither overbought nor oversold. The STOCH value of 79.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:FMAN.

Freeman Gold Corp 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%
FMAN	54 Neutral	C$132.28M	-25.29	-11.02%	―	―	-58.88%
TECT	51 Neutral	C$278.97M	-10.68	-174.89%	―	―	-48.84%
VEIN	50 Neutral	C$128.38M	-5.42	―	―	―	―
CCM	49 Neutral	C$112.50M	-50.00	-4.63%	―	―	45.79%
SGN	49 Neutral	C$113.22M	-3.33	-62.60%	―	―	-57.61%
YARR	34 Underperform	C$105.56M	-23.28	-63.46%	―	―	-652.38%

Freeman Gold Corp Corporate Events

Freeman Gold Confirms High Gold Recovery and Simple Processing for Lemhi Project

Freeman Gold Corp. has successfully completed its 2025 metallurgical testwork program for the Lemhi Gold Project, confirming a simple and low-risk processing method with high gold recoveries. The results, independently reviewed, demonstrate gold leach extraction rates averaging 95.4% and highlight the project’s potential for economic robustness with moderate reagent use and soft ore characteristics. The company plans to integrate these findings into ongoing engineering and mine planning to further advance the project.

Freeman Gold Corp. Reports Promising Drill Results at Lemhi Project

Freeman Gold Corp. announced drill results from its 2025 core drilling program at the Lemhi Gold Project, revealing significant gold mineralization in three drill holes. The results are part of a feasibility study aimed at converting inferred resources to measured or indicated categories, which will inform an updated Mineral Resource Estimate for the Lemhi Feasibility Study. The drill findings suggest gold mineralization extends beyond current patent boundaries, potentially enhancing the project’s value and Freeman’s market position.

Freeman Gold Advances Lemhi Project with Drill Program Completion and Conference Participation

Freeman Gold Corp. announced its participation in the upcoming Idaho Mining Conference and the completion of its infill drill program at the Lemhi Gold Project, which included additional core holes to expand high-grade results. The drill program aims to convert inferred ounces to measured or indicated categories and explore further extensions of the Lemhi deposit. The company is conducting a feasibility study to support project advancement, with results to be released as they become available. This development is crucial for Freeman Gold’s strategic positioning in the mineral exploration industry, as it seeks to enhance its resource base and move towards production.

Freeman Gold Corp. Gains Strategic Investor, Boosting Lemhi Project Prospects

Freeman Gold Corp. has announced the addition of Brian Paes-Braga as a strategic investor, marking a significant milestone in its growth. Paes-Braga’s investment reflects strong confidence in Freeman’s Lemhi Gold Project and its potential to unlock significant value. This development is expected to bolster Freeman’s efforts to advance the project towards production, enhancing its industry positioning and delivering long-term value to shareholders.