Fancamp Exploration (FNC) AI Stock Analysis

• Market Cap: C$32.65M
• Dividend Yield: N/A
• Average Volume (3M): 109.26K
• Price to Earnings (P/E): 9.5
• Beta (1Y): 1.75
• 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: 241,840,100
• 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 ▼(-4.29% Downside)

The score is primarily held back by weak financial performance (no revenue, ongoing operating losses, and persistent cash burn), partially offset by a strong low-debt balance sheet. Technicals are supportive (uptrend and positive momentum) but appear overbought, and valuation looks modest on P/E though limited by low earnings quality.

Positive Factors

Very low leverage / conservative balance sheet

Extremely low leverage and minimal nominal debt provide financial flexibility for an exploration company, lowering bankruptcy risk and preserving capacity to fund drilling or option agreements. This structural strength supports project advancement without a heavy interest burden.

Growing equity base

Material increase in shareholders' equity over recent years improves capitalization and the firm’s ability to absorb exploration losses. A larger equity base reduces immediate dilution pressure and supports near-term financing flexibility to advance projects or acquire royalties.

Exploration + royalty/equity business model

Combining direct exploration with royalty and equity stakes gives multiple monetization pathways: discovery-led asset sales, royalty income, or equity appreciation. Structurally, this optionality can create asymmetric upside while mitigating capital intensity versus sole project sponsorship.

Negative Factors

No reported revenue; persistent operating losses

Lack of operating revenue and recurring negative EBIT indicate the core business is not generating sustainable profits. Over the medium term this forces reliance on financing or asset disposals and raises execution risk for advancing projects to cash-generating stages.

Consistent negative operating and free cash flow

Persistent operating cash burn and negative free cash flow mean the company cannot self-fund exploration activity long term. This structural cash shortfall increases the probability of equity issuance or asset monetization, diluting existing holders and constraining project timelines.

Weak earnings quality from non-operating items

Reported net income that stems from non-operating items rather than core operations signals low earnings repeatability. For creditors and investors this undermines confidence in profitability metrics and complicates forecasting of funds available to advance projects or pay down obligations.

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

Balance sheet strength (very low leverage and growing equity) is a positive, but it is outweighed by weak operating fundamentals: no reported revenue, persistent negative EBIT, and consistently negative operating/free cash flow. Positive net income appears driven by non-operating items, reducing earnings quality.

Income Statement

Results show persistent operating losses (TTM (Trailing-Twelve-Months) EBIT of -2.3M; annual EBIT also negative across 2021–2025), with no reported revenue and negative gross profit, indicating the core business is not generating operating profitability. Net income is positive in several periods (TTM 3.3M; 2025 annual 7.0M), but the disconnect versus negative EBIT suggests earnings are likely driven by non-operating items and may be less repeatable.

Balance Sheet

The balance sheet appears conservatively financed, with very low leverage (TTM debt-to-equity ~0.01; debt of ~0.3M against equity of ~57.1M). Equity has grown versus earlier years (from ~37.3M in 2022 to ~57.1M TTM), supporting financial flexibility. The key weakness is that returns swing materially (ROE negative in 2022, modest in 2023–2024, higher in 2025/TTM), reflecting uneven profitability quality.

Cash Flow

Cash generation is weak: operating cash flow is negative in every period shown (TTM -2.0M; 2024 -2.2M; 2022 -3.8M), and free cash flow is also consistently negative (TTM -2.4M). While free cash flow improved versus the prior period (TTM growth reported strongly positive), the company is still consuming cash, and operating cash flow does not currently support reported net income.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2021	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	-3.50K	-224.00K	-2.25K	―	―
EBITDA	7.72M	-1.49M	-2.34M	-2.14M	-5.11M
Net Income	7.00M	1.23M	5.37M	17.40M	-4.33M
Balance Sheet
Total Assets	64.11M	55.28M	53.69M	44.57M	41.68M
Cash, Cash Equivalents and Short-Term Investments	26.00M	24.26M	24.35M	31.03M	28.27M
Total Debt	0.00	0.00	0.00	0.00	0.00
Total Liabilities	8.26M	6.92M	11.00M	5.43M	4.48M
Stockholders Equity	55.85M	48.36M	42.69M	39.23M	37.30M
Cash Flow
Free Cash Flow	-634.33K	-3.01M	-2.18M	-1.81M	-4.91M
Operating Cash Flow	-142.12K	-2.20M	-1.58M	-1.27M	-3.75M
Investing Cash Flow	-26.08K	-4.04M	-1.52M	9.70M	-2.26M
Financing Cash Flow	20.00K	4.44M	0.00	977.00K	1.11M

Fancamp Exploration Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.14
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FNC, the sentiment is Neutral. The current price of 0.14 is above the 20-day moving average (MA) of 0.14, above the 50-day MA of 0.12, and above the 200-day MA of 0.10, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 48.00 is Neutral, neither overbought nor oversold. The STOCH value of 43.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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$32.65M	9.49	6.59%	―	―	-34.88%
TIG	53 Neutral	C$41.79M	-14.00	-72.48%	―	―	-204.88%
EMN	51 Neutral	C$31.42M	-1.18	-277.75%	―	36.37%	21.97%
EVNI	47 Neutral	C$24.47M	-9.61	-58.79%	―	―	21.31%
AVE	40 Underperform	C$19.84M	-6.48	-24.93%	―	―	-6.45%
HTRC	33 Underperform	C$17.25M	-37.74	―	―	―	26.39%

Fancamp Exploration Corporate Events

Fancamp Secures ECOLOGO Certification as Strategic Refocus Drives Transformative Year

Fancamp Exploration has obtained UL Solutions’ ECOLOGO Certification for Responsible Development for Mineral Exploration, a third‑party audited standard covering environmental, social and commercial practices, underscoring its commitment to responsible exploration and potentially strengthening stakeholder confidence and market reputation. The company also highlighted a transformative 2025 in which it advanced a spin‑out of its core exploration assets into Goldera Exploration Ltd., signed an option to acquire up to 80% of the Egan gold property in Ontario’s Abitibi belt, reorganized its structure by adding board expertise and separating financial assets from exploration ventures, and launched a share buyback, a combination of moves that coincided with a 100% share price increase and are aimed at surfacing hidden value and sharpening its strategic focus.

The most recent analyst rating on (TSE:FNC) stock is a Hold with a C$0.13 price target. To see the full list of analyst forecasts on Fancamp Exploration stock, see the TSE:FNC Stock Forecast page.

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.