Fancamp Exploration (FNC) AI Stock Analysis

• Market Cap: C$35.08M
• Dividend Yield: N/A
• Average Volume (3M): 109.26K
• Price to Earnings (P/E): 10.6
• Beta (1Y): 1.71
• Revenue Growth: N/A
• EPS Growth: -34.88%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): 0.02
• Shares Outstanding: 241,962,330
• 10 Day Avg. Volume: 74,917
• 30 Day Avg. Volume: 109,256
• PEG Ratio: <0.01
• Price to Book (P/B): 0.32
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -28.49
• 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: 56 Neutral
• Price Target: C$0.13 ▲(3.08% Upside)

The score is held back primarily by weak fundamentals (persistent operating losses, zero reported revenue, and ongoing negative operating/free cash flow) despite a strong debt-free balance sheet. Technicals are supportive with clear upward momentum, and recent corporate actions (NCIB and reorganization/spin-out) add constructive catalysts, while valuation appears modest but is less reliable given earnings quality concerns.

Positive Factors

Strong Balance Sheet

A debt-free balance sheet provides financial stability and flexibility, allowing Fancamp to invest in exploration without the burden of interest payments.

Promising Exploration Results

Positive exploration results can lead to significant discoveries, enhancing Fancamp's asset base and attracting potential partnerships or investments.

Operational Enhancements

Identifying new mineralized targets can improve operational capabilities, potentially increasing Fancamp's resource base and long-term growth prospects.

Negative Factors

Lack of Revenue

The absence of revenue limits Fancamp's ability to self-fund operations, making it reliant on external financing and partnerships to sustain its activities.

Cash Flow Issues

Inconsistent cash flow generation raises concerns about Fancamp's ability to maintain operations and fund exploration without external support.

Operational Inefficiencies

Persistent operational inefficiencies indicate challenges in cost management, which can hinder profitability and long-term sustainability.

Fancamp Exploration Business Overview & Revenue Model

Company Description

Fancamp Exploration Ltd., a mineral exploration company, explores for mineral properties. The company explores for gold; strategic rare earth and base metals; and chromium, zinc, titanium, and iron ore deposits. It owns various mineral resource properties in Quebec, Ontario, and New Brunswick, Canada. The company was incorporated in 1986 and is headquartered in Burnaby, Canada.

How the Company Makes Money

Fancamp Exploration Ltd. primarily generates revenue through the exploration and development of its mineral properties. The company earns money by advancing its mineral projects to stages where they can attract investment or partnerships with larger mining companies interested in joint ventures or acquisitions. This can include selling interests in properties, entering into joint venture agreements, or licensing out mineral rights. Additionally, Fancamp may generate income from the sale of any extracted minerals if the projects reach production stages. Strategic partnerships and collaborations with other mining entities can also contribute to its earnings.

Fancamp Exploration Financial Statement Overview

Summary

Mixed financial quality: a debt-free balance sheet and rising equity reduce financial risk, but the operating profile is weak with persistent negative EBIT, zero reported revenue, and consistently negative operating/free cash flow, implying ongoing cash burn and reliance on external funding or asset monetization.

Income Statement

The income statement shows persistent operating losses, with EBIT negative every year from 2020–2025, indicating the core business is not yet self-funding. Net income is positive in several years (2021, 2023–2025), but with zero reported revenue across all periods, profitability quality looks driven by non-operating or one-time factors rather than a stable operating model. EBITDA swings sharply (notably positive in 2025), which increases earnings volatility and lowers confidence in underlying trend strength.

Balance Sheet

The balance sheet is a clear strength: total debt is reported as zero across all years, which materially reduces financial risk. Stockholders’ equity has also grown meaningfully over time (from ~$20.9M in 2020 to ~$55.9M in 2025) alongside higher total assets, suggesting improving capitalization. The key weakness is that returns are inconsistent (including negative return on equity in 2020 and 2022), reflecting that the company’s asset base is not consistently generating profits.

Cash Flow

Cash generation is weak and volatile: operating cash flow is negative every year shown, and free cash flow is also negative each year, indicating ongoing cash burn. While the cash burn improved substantially in 2025 versus 2024 (operating cash flow loss narrowed and free cash flow loss reduced), free cash flow still declined versus the prior year on a growth basis and remains meaningfully negative. Overall, cash flows do not yet support a sustainable operating profile without external funding or asset monetization.

Breakdown	Dec 2025	Dec 2023	Dec 2023	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	-3.50K	-2.25K	-224.00K	―	―
EBITDA	7.72M	-2.34M	-1.49M	-5.11M	-2.14M
Net Income	7.00M	5.37M	1.23M	-4.33M	17.40M
Balance Sheet
Total Assets	64.11M	53.69M	55.28M	41.68M	44.57M
Cash, Cash Equivalents and Short-Term Investments	26.00M	24.35M	24.26M	28.27M	31.03M
Total Debt	0.00	0.00	0.00	0.00	0.00
Total Liabilities	8.26M	11.00M	6.92M	4.48M	5.43M
Stockholders Equity	55.85M	42.69M	48.36M	37.30M	39.23M
Cash Flow
Free Cash Flow	-634.33K	-2.18M	-3.01M	-4.91M	-1.81M
Operating Cash Flow	-142.12K	-1.58M	-2.20M	-3.75M	-1.27M
Investing Cash Flow	-26.08K	-1.52M	-4.04M	-2.26M	9.70M
Financing Cash Flow	20.00K	0.00	4.44M	1.11M	977.00K

Fancamp Exploration Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.13
• 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:FNC, the sentiment is Positive. The current price of 0.13 is above the 20-day moving average (MA) of 0.11, above the 50-day MA of 0.10, and above the 200-day MA of 0.09, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 73.07 is Negative, neither overbought nor oversold. The STOCH value of 72.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:FNC.

Fancamp Exploration 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%
FNC	56 Neutral	C$35.08M	10.58	6.59%	―	―	-34.88%
TIG	53 Neutral	C$30.10M	-11.40	-72.48%	―	―	-204.88%
EVNI	47 Neutral	C$25.58M	-10.04	-58.79%	―	―	21.31%
AVE	40 Underperform	C$23.29M	-9.09	-24.93%	―	―	-6.45%
EMN	40 Underperform	C$22.85M	-0.90	-277.75%	―	36.37%	21.97%
HTRC	33 Underperform	C$16.81M	-36.79	―	―	―	26.39%

Fancamp Exploration Corporate Events

Fancamp Exploration Announces Share Buyback and Expands Mineral Interests

Fancamp Exploration Ltd. has announced its intention to launch a normal course issuer bid (NCIB) to purchase up to 5% of its common shares, subject to TSX Venture Exchange approval. This move is part of Fancamp’s strategy to enhance long-term shareholder value, reflecting the company’s belief that its current share price undervalues its business and future prospects. Additionally, Fancamp has amended an option agreement with Harfang Exploration Inc. to acquire up to an 80% interest in the Egan mineral property, further solidifying its position in the gold-rich Abitibi greenstone belt of Ontario.

Fancamp Exploration Spins Out Assets to Form Goldera Exploration

Fancamp Exploration Ltd. announced a strategic reorganization by spinning out its core exploration assets into a new company, Goldera Exploration Ltd. This move aims to enhance focus and market recognition, providing shareholders with ownership in two distinct growth platforms. Goldera will focus on high-growth, discovery-driven exploration, holding assets like the Egan Gold Project and Acadian Gold Joint Venture. The reorganization is expected to attract focused capital and new investor interest, with Fancamp also seeking to update its listing status to an Investment Issuer on the TSX Venture Exchange.

Fancamp Exploration Appoints Jasper Bertisen to Board Amid Strategic Reorganization

Fancamp Exploration Ltd. has appointed Jasper Bertisen to its Board of Directors as part of a strategic reorganization aimed at separating its financial and exploration assets into two distinct entities. Bertisen’s extensive experience in mining investment and governance is expected to significantly benefit the growth of the new financial entity, which will focus on investments, royalties, and strategic acquisitions. This move is anticipated to strengthen Fancamp’s industry positioning by providing a streamlined portfolio for investors and enhancing the company’s operational focus.

Fancamp Exploration Enters New Partnership and Plans Strategic Reorganization

Fancamp Exploration Ltd. has announced a new partnership with Harfang Exploration Inc., allowing Fancamp to acquire up to an 80% interest in the Egan property, located in the gold-abundant Abitibi greenstone belt of Ontario. This agreement enhances Fancamp’s gold portfolio by providing access to a promising gold asset in a region known for significant gold production. Additionally, Fancamp plans a strategic corporate reorganization to separate its financial and exploration assets, aiming to accelerate value creation and enhance overall corporate value.