Four Nines Gold (FNAU) AI Stock Analysis

• Market Cap: C$9.32M
• Dividend Yield: N/A
• Average Volume (3M): 7.37K
• Price to Earnings (P/E): ―
• Beta (1Y): <0.01
• Revenue Growth: N/A
• EPS Growth: -47.97%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): >-0.01
• Shares Outstanding: 22,188,620
• 10 Day Avg. Volume: 600
• 30 Day Avg. Volume: 7,374
• PEG Ratio: 0.62
• Price to Book (P/B): 10.89
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -41.18
• 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: C$0.41 ▲(1.25% Upside)

The score is primarily held down by weak financial performance (no revenue, ongoing losses, and negative free cash flow). Technicals add downside pressure with the stock trading below major moving averages and a negative MACD, though the oversold RSI slightly offsets. Valuation is constrained by a negative P/E and no dividend yield data.

Positive Factors

Low leverage (debt-to-equity ~0.20)

Relatively low leverage provides structural financial flexibility for a pre-revenue mining company, lowering default risk and extending runway between financings. This supports the firm’s ability to pursue exploration or development over the next several quarters without excessive interest burden.

Material asset base (~1.35M total assets)

A tangible asset base of ~1.35M gives the company collateral value and potential balance-sheet support for project financing or asset-backed lending. Over 2–6 months this underpins credibility with lenders and partners when raising capital for exploration or development stages.

Signs of improving loss trajectory vs prior year

An easing in annual losses suggests management has begun controlling costs or shifting activity, which can make future financing needs smaller and create a clearer path toward break-even. Structural improvement in losses increases the odds of sustainable operations over months ahead.

Negative Factors

Pre-revenue operations

No reported revenue means the business lacks operating cash inflows and depends on financing to fund activities. Over the medium term this creates execution risk: converting exploration into revenue is capital intensive and timing is uncertain, pressuring sustainability.

Negative cash generation and persistent cash burn

Sustained negative operating and free cash flow erodes reserves and forces recurring external financing or dilution. Structurally, ongoing cash burn reduces runway for development projects and raises the probability of financing stress or partnership dependency in the coming months.

Ongoing losses eroding equity (TTM ROE ~-0.63)

Negative ROE and declining equity reflect that the company is destroying capital rather than generating returns. Over 2–6 months this undermines balance-sheet strength, increases refinancing costs, and limits strategic options unless profitability or financing sources materially improve.

Four Nines Gold Business Overview & Revenue Model

Company Description

Four Nines Gold Inc., a junior resource company, engages in the acquisition, exploration, and development of gold properties in Canada. It has an option to acquire a 100% interest in the Bonneville property that includes 36 mineral tenures covering an area of approximately 2,018 hectares located in central Quebec. The company was formerly known as Eureka Dome Gold Inc. and changed its name to Four Nines Gold Inc. in November 2016. Four Nines Gold Inc. was incorporated in 2015 and is headquartered in Vancouver, Canada.

How the Company Makes Money

Four Nines Gold generates revenue primarily through the extraction and sale of gold. The company identifies and acquires promising mining sites, conducts extensive exploration to assess the gold reserves, and establishes mining operations to extract the gold. Once extracted, the gold is processed to achieve high purity levels and sold to various buyers, including refineries, jewelry manufacturers, and investors. Key revenue streams include the sale of gold bullion and gold-based financial products. Strategic partnerships with other mining companies and technological firms may enhance operational efficiencies and reduce costs, contributing to improved profitability.

Four Nines Gold Financial Statement Overview

Summary

Four Nines Gold's financials reflect a pre-revenue exploration stage company with ongoing operating losses and no revenue generation. The balance sheet is relatively strong with low leverage, but sustained negative cash flows highlight potential liquidity risks. Achieving revenue generation is critical for future financial stability.

Income Statement

Four Nines Gold has reported zero revenue over the past years, reflecting its pre-revenue stage typical of exploration companies. The company consistently records negative EBIT and net income, indicating ongoing expenses without offsetting revenue. This results in a lack of profitability and no visible growth in terms of revenue.

Balance Sheet

The company's balance sheet shows a strong equity position with a debt-to-equity ratio of 0.15 TTM, indicating low financial leverage. However, the lack of revenue generation raises concerns about long-term sustainability without additional funding. The equity ratio of approximately 61.43% TTM suggests a solid capital structure, yet the continuous operating losses might erode equity over time.

Cash Flow

Free cash flow has improved recently, but remains low and inconsistent, reflecting the exploration stage of the company. The negative operating cash flow compared to net income indicates challenges in cash management. Financing activities appear to support operations, revealing potential dependency on external funding.

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	0.00	0.00	0.00
EBITDA	-284.83K	-379.00K	-232.00K	-491.00K	-468.00K	-158.93K
Net Income	-398.06K	-395.00K	-511.00K	-495.00K	-469.00K	-159.95K
Balance Sheet
Total Assets	1.35M	1.20M	840.26K	861.05K	1.25M	580.13K
Cash, Cash Equivalents and Short-Term Investments	1.24K	25.00	22.37K	245.54K	1.01M	378.26K
Total Debt	154.27K	271.33K	0.00	0.00	0.00	0.00
Total Liabilities	599.56K	650.38K	218.57K	44.60K	132.06K	50.32K
Stockholders Equity	754.75K	548.64K	621.68K	816.45K	1.11M	529.81K
Cash Flow
Free Cash Flow	-151.34K	-145.10K	-250.24K	-639.56K	-239.93K	-271.13K
Operating Cash Flow	-76.08K	-145.10K	-160.87K	-466.30K	-214.93K	-86.13K
Investing Cash Flow	-173.26K	-61.20K	-380.08K	-356.89K	-25.00K	-193.05K
Financing Cash Flow	263.51K	196.96K	316.45K	57.00K	876.65K	-65.88K

Four Nines Gold Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.40
• 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:FNAU, the sentiment is Positive. The current price of 0.4 is above the 20-day moving average (MA) of 0.40, below the 50-day MA of 0.40, and above the 200-day MA of 0.39, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 61.05 is Neutral, neither overbought nor oversold. The STOCH value of 86.67 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:FNAU.

Four Nines Gold 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%
ARQ	56 Neutral	C$8.34M	-108.33	-6.09%	―	-15.28%	-122.22%
VG	51 Neutral	C$9.21M	-7.18	-62.30%	―	―	66.36%
RFR	47 Neutral	C$9.64M	-9.52	―	―	―	60.38%
RG	44 Neutral	C$9.84M	-21.43	64.04%	―	―	46.15%
FNAU	43 Neutral	C$9.32M	-21.00	-66.97%	―	―	-47.97%