First Tellurium Corp (FTEL) AI Stock Analysis

• Market Cap: C$21.95M
• Dividend Yield: N/A
• Average Volume (3M): 468.26K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.56
• Revenue Growth: N/A
• EPS Growth: 32.85%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Other Precious Metals
• EPS (TTM): N/A
• Shares Outstanding: 118,641,830
• 10 Day Avg. Volume: 384,534
• 30 Day Avg. Volume: 468,257
• PEG Ratio: 0.20
• Price to Book (P/B): -43.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -7.66
• 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: 44 Neutral
• Price Target: C$0.18 ▼(-10.50% Downside)

The score is primarily held down by weak financial performance (no revenue, widening losses, ongoing cash burn, and negative equity with higher debt), which increases financing and dilution risk. Technicals are largely neutral with mixed momentum, offering limited near-term offset. Valuation is also unattractive/unclear because earnings are negative and no dividend support is provided.

Positive Factors

Focus on critical mineral (tellurium)

A pure-play focus on tellurium and associated critical minerals provides structural exposure to supply-constrained, high‑priority materials. Over a multi‑month horizon, this specialization can attract strategic partners or offtake interest as these metals remain important for tech and clean‑energy supply chains.

Project footprint in a stable mining jurisdiction

Holding projects in British Columbia supports project development optionality due to a well‑established regulatory and permitting environment. For explorers, jurisdictional quality materially reduces long‑term permitting and political risk versus less developed mining regions, aiding eventual asset monetization prospects.

Asset base has improved versus prior year

Reported improvement in total assets versus FY2024 suggests continued investment into exploration and tangible project advancement. A growing asset base can increase optionality for joint ventures, earn‑ins or asset sales, which are key value‑creation routes for junior explorers over months to years.

Negative Factors

Zero revenue and widening net losses

The company generates no revenue and posted materially larger net losses year‑over‑year, indicating no operating scale or commercial cash inflows. Over a 2–6 month horizon this limits self‑funding capacity and increases execution risk until a monetizable discovery or financing occurs.

Negative equity and rising leverage

Negative equity and a sharp rise in debt weaken the balance sheet and reduce financial flexibility. For an early‑stage explorer this elevates dilution and refinancing risk, making future capital raises more costly and potentially dilutive over the medium term.

Persistent cash burn and deteriorating free cash flow

Sustained negative operating and free cash flow signal ongoing funding needs to continue exploration and operations. Deterioration versus the prior year increases the likelihood of near‑term external financing, which can pressure capital structure and dilute existing shareholders if not offset by asset monetization.

First Tellurium Corp Business Overview & Revenue Model

Company Description

First Tellurium Corp. engages in the acquisition, exploration, and evaluation of mineral properties in Canada. It primarily explores for silver, tellurium, gold, copper, tungsten, copper porphyry, bismuth, lead, zinc, and molybdenum. The company holds 50% interest in the Deer Horn Property covering 5,133 hectares located in north western British Columbia. It also has an option to acquire the Colorado Klondike Property located in south-central Colorado, the United States. The company was formerly known as Deer Horn Capital Inc. and changed its name to First Tellurium Corp. in 2021. First Tellurium Corp. was incorporated in 2004 and is headquartered in Delta, Canada.

How the Company Makes Money

First Tellurium Corp generates revenue through the exploration, extraction, and sale of tellurium and associated precious metals from its mining projects. The company's primary revenue streams involve selling extracted minerals to manufacturers and industries that require tellurium for production purposes, such as solar panel production, electronics manufacturing, and alloy creation. FTEL may also engage in strategic partnerships or joint ventures with other companies in the mining and technology sectors to enhance its exploration capabilities and access new markets. Additionally, as the demand for tellurium grows with the advancement of renewable energy technologies, FTEL's strategic positioning in this market serves as a significant factor contributing to its earnings potential.

First Tellurium Corp Financial Statement Overview

Summary

Weak fundamentals: TTM shows zero revenue, persistent and widening net losses (-3.5M vs -1.9M FY2025), and ongoing cash burn (TTM operating cash flow -1.27M; free cash flow -1.50M). Balance-sheet risk is elevated with negative equity (TTM -1.33M) and materially higher debt versus FY2023, increasing reliance on external funding.

Income Statement

TTM (Trailing-Twelve-Months) results show no revenue and persistent losses, with net income at -3.5M versus -1.9M in FY2025, indicating widening operating losses. Gross profit is negative across periods, reinforcing that the business is still in an early-stage/overhead-driven phase with no demonstrated operating scale. The main positive is that losses have historically fluctuated (not strictly worsening every year), but profitability visibility remains limited given the ongoing zero-revenue profile.

Balance Sheet

The balance sheet is pressured by negative equity in TTM (Trailing-Twelve-Months) (-1.33M) and FY2025 (-0.32M), which weakens financial flexibility and raises dilution/financing risk. Total debt has increased materially versus FY2023 (903.6K TTM vs 182.0K in FY2023), while the company moved from positive equity in FY2022–FY2023 to negative equity thereafter. Total assets have improved versus FY2024, but the capital structure remains a key vulnerability.

Cash Flow

Cash generation is negative, with TTM (Trailing-Twelve-Months) operating cash flow at -1.27M and free cash flow at -1.50M, indicating continued cash burn to fund operations. Free cash flow has deteriorated versus FY2024 (more negative in TTM), and the free cash flow growth rate is negative in TTM, signaling worsening cash use. A partial offset is that free cash flow is broadly in line with net losses (free cash flow to net income above 1), suggesting losses are not primarily driven by large non-cash gains, but the overall funding need remains high.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	-100.26K	-80.72K	-11.16K	-7.96K	-8.16K
EBITDA	-1.79M	-2.14M	-1.94M	-1.85M	-455.57K
Net Income	-1.93M	-2.29M	-1.98M	-1.92M	-482.62K
Balance Sheet
Total Assets	1.47M	988.09K	1.71M	1.47M	219.27K
Cash, Cash Equivalents and Short-Term Investments	213.87K	12.60K	193.84K	1.01M	2.50K
Total Debt	894.20K	887.24K	182.00K	188.89K	187.94K
Total Liabilities	1.83M	2.35M	550.23K	401.11K	725.44K
Stockholders Equity	-315.72K	-1.34M	1.18M	1.06M	-506.17K
Cash Flow
Free Cash Flow	-1.77M	-1.10M	-2.35M	-2.28M	-234.23K
Operating Cash Flow	-1.60M	-1.02M	-2.25M	-2.19M	-170.46K
Investing Cash Flow	-847.05K	-80.41K	-99.44K	-150.13K	-54.07K
Financing Cash Flow	2.65M	920.51K	1.54M	3.35M	106.74K

First Tellurium Corp Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.20
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FTEL, the sentiment is Negative. The current price of 0.2 is below the 20-day moving average (MA) of 0.21, above the 50-day MA of 0.19, and above the 200-day MA of 0.15, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 40.07 is Neutral, neither overbought nor oversold. The STOCH value of 19.44 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:FTEL.

First Tellurium 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%
FYL	54 Neutral	C$20.39M	-70.59	-2.59%	―	―	―
KFR	54 Neutral	C$60.47M	-44.16	-3.42%	―	―	77.78%
TUF	50 Neutral	C$27.95M	-5.59	-313.87%	―	―	-17.86%
ALEX	49 Neutral	C$23.48M	49.02	4.00%	―	―	―
FTEL	44 Neutral	C$21.95M	-5.91	―	―	―	32.85%

First Tellurium Corp Corporate Events

First Tellurium Subsidiary Enters DARPA Lift Challenge With Heavy-Lift Drone Design

First Tellurium Corp. announced that its majority-owned subsidiary, PyroDelta Energy Inc., has entered the U.S. Department of Defense DARPA Lift Challenge, a US$6.5 million competition aimed at developing drone designs capable of carrying payloads heavier than their own weight. PyroDelta plans to combine its thermoelectric technology with a new drone design to achieve a superior payload-to-weight ratio, positioning the company as a potential innovator in heavy-lift drone applications across defense, agriculture, construction and logistics, while gaining significant exposure through participation in this high-profile contest.

The most recent analyst rating on (TSE:FTEL) stock is a Hold with a C$0.20 price target. To see the full list of analyst forecasts on First Tellurium Corp stock, see the TSE:FTEL Stock Forecast page.

First Tellurium Targets Canada’s AI Boom With Waste-Heat Power Technology

First Tellurium Corp., through its subsidiary PyroDelta Energy Inc., is advancing a proprietary tubular thermoelectric generator designed to capture waste heat from AI data centers and convert it into clean, reliable supplemental electricity. The company is positioning this technology to benefit from Canada’s substantial new public and private AI investments, including multibillion-dollar commitments to AI infrastructure, and has engaged consultants to connect with federal and provincial officials for potential funding and deployment across AI, defense and broader energy-saving applications, underscoring its ambition to integrate its thermoelectric systems into the country’s emerging AI infrastructure strategy.

The most recent analyst rating on (TSE:FTEL) stock is a Hold with a C$0.18 price target. To see the full list of analyst forecasts on First Tellurium Corp stock, see the TSE:FTEL Stock Forecast page.

First Tellurium Expands Stake in PyroDelta Energy

First Tellurium Corp. announced the acquisition of an additional 8% interest in its subsidiary, PyroDelta Energy Inc., increasing its total ownership to 83%. This strategic move strengthens First Tellurium’s control and negotiating position, enhancing opportunities to monetize PyroDelta’s thermoelectric technology and potentially increasing shareholder value.

First Tellurium Corp Strengthens Advisory Board with Major General Granger

First Tellurium Corp has appointed Major General Elder Granger to its Advisory Board to help guide the company and PyroDelta Energy in expanding their thermoelectric technology into governmental, defense, and other new markets. This strategic move is expected to enhance the company’s market reach and establish PyroDelta as a leader in thermoelectric technology, leveraging MG Granger’s extensive experience and connections in the defense sector.

First Tellurium Corp. Grants Stock Options to Consultants

First Tellurium Corp. has announced the granting of incentive stock options to eligible consultants, allowing them to purchase up to 200,000 common shares at $0.18 per share, exercisable over ten years. This move is part of the company’s strategy to enhance its operations and potentially increase stakeholder value through the development of tellurium-based technologies and mineral projects.

First Tellurium Targets Robotics Industry with Innovative Cooling Devices

First Tellurium Corp’s subsidiary, PyroDelta Energy Inc, is launching research and development to supply thermoelectric cooling devices to the robotics industry. These devices aim to provide precise, solid-state cooling for sensitive electronics in harsh environments, such as high-temperature areas. The robotics market is projected to grow significantly, and PyroDelta’s proprietary Capillary Casting process offers a cost advantage over current market offerings, potentially positioning the company favorably in this expanding sector. The company is also exploring other rapidly-expanding markets for its thermoelectric devices, including high-payload drones, AI data centers, and combustion engines.

First Tellurium’s PyroDelta to Launch Online Sales for Thermoelectric Modules

First Tellurium Corp.’s subsidiary, PyroDelta Energy Inc, plans to launch an online sales platform for its flat thermoelectric modules by January 1, 2026. These modules, capable of operating at high temperatures, have diverse applications including enhancing solar power and extending drone ranges. The company is also exploring manufacturing options for its tubular generators, which are expected to be a significant revenue source through direct sales to large-scale industries.

First Tellurium Expands into Airboat Market with Innovative Thermoelectric Modules

First Tellurium Corp.’s subsidiary, PyroDelta Energy Inc, has entered the airboat market with its thermoelectric modules, initially designed for drones, now being used to power onboard electronics in airboats. This move aligns with the industry’s shift towards eco-friendly and efficient airboats, potentially opening new revenue streams and market opportunities for First Tellurium as the global airboat market is projected to grow, driven by increasing demand for environmentally friendly solutions.

First Tellurium Corp. Sees Strong Investor Confidence and Growing Interest in Thermoelectric Technology

First Tellurium Corp. announced the successful exercise of all warrants from its October 2023 private placement financing, raising CDN$283,500. The company also reported significant interest in its subsidiary PyroDelta Energy’s thermoelectric technology, indicating potential growth and breakthroughs as industries explore energy-saving solutions.