Excelsior Mining (GCU) AI Stock Analysis

• Market Cap: C$233.66M
• Dividend Yield: N/A
• Average Volume (3M): 1.10M
• Price to Earnings (P/E): 29.8
• Beta (1Y): 1.83
• Revenue Growth: 128.86%
• EPS Growth: N/A
• Country: CA
• Employees: 48
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Copper
• EPS (TTM): -0.09
• Shares Outstanding: 402,854,370
• 10 Day Avg. Volume: 1,235,741
• 30 Day Avg. Volume: 1,101,111
• PEG Ratio: -0.04
• Price to Book (P/B): -1.95
• Price to Sales (P/S): 44.90
• P/FCF Ratio: -1.34
• 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: 49 Neutral
• Price Target: C$0.66 ▲(36.88% Upside)

The score is held down primarily by poor financial health (negative margins, negative equity, and worsening negative free cash flow). Technicals provide some offset with strong upward trend and positive MACD, but overbought indicators raise near-term risk, while valuation (P/E 27.66 and no dividend yield provided) offers limited support given the fundamentals.

Positive Factors

Environmentally friendly extraction

Excelsior's in‑situ recovery is a structurally durable operational advantage: it can lower capital and operating intensity, reduce surface disturbance and permitting friction, and improve ESG positioning. Over months this eases project execution, financing and offtake conversations versus conventional mines.

Strategic US project location

Gunnison's location in Arizona provides durable jurisdictional and supply‑chain advantages: proximity to U.S. manufacturers and infrastructure spending supports long‑term copper demand and reduces geopolitical and logistic risks versus overseas projects, aiding stable market access for months ahead.

Clear revenue model via cathode sales

Direct sale of copper cathodes is a simple, tangible commercial model that reduces downstream smelting dependency and complexity. Combined with stated intent to pursue partnerships for capital and technology, this supports a durable path to scale production and monetization if operational metrics improve.

Negative Factors

Negative shareholders' equity

Negative equity indicates liabilities exceed assets, a fundamental solvency concern that limits borrowing capacity and increases reliance on dilutive financing or expensive debt. Over a multi‑month horizon this constrains ability to fund development work or respond to operational setbacks without significant external support.

Persistent negative operating margins

Negative gross and operating margins show core operations currently lose money; the reported positive net income is driven by non‑operational items. Unless unit costs decline or realized prices rise, this structural unprofitability undermines sustainable free cash generation and project economics over the coming months.

Worsening cash flows and liquidity risk

Significantly negative operating and free cash flows, with FCF down ~140% year over year, create immediate funding pressure. This persistent cash burn increases the need for external capital, raising dilution or leverage risk and jeopardizing near‑term project milestones and development continuity.

Excelsior Mining Business Overview & Revenue Model

Company Description

Gunnison Copper Corp. engages in the acquisition, exploration, and development of copper mineral properties in the United States. The company also explores for zinc and silver deposits. Its flagship property is the Gunnison copper project consists of unpatented mining claims, private land, exploration permits, mineral leases, and direct ownership of mineral rights covering an area of approximately 10 square miles located in Cochise County, Arizona. The company also engages in the construction and operation of copper mines. The company was formerly known as Excelsior Mining Corp. and changed its name to Gunnison Copper Corp. in November 2024. Gunnison Copper Corp. is headquartered in Phoenix, Arizona.

How the Company Makes Money

Excelsior Mining generates revenue primarily through the sale of copper produced from its Gunnison Copper Project. The company employs an in-situ recovery method, which reduces operational costs and environmental impact while maximizing copper yield. Revenue streams include the direct sale of copper cathodes produced at the facility. Additionally, Excelsior Mining may engage in partnerships with other mining companies or stakeholders which can provide access to capital, technology, and market opportunities, further enhancing its earning potential. Market fluctuations in copper prices, demand from industrial sectors, and operational efficiency also play significant roles in determining the company's financial performance.

Excelsior Mining Financial Statement Overview

Summary

Weak fundamentals: revenue fell 67.4% (2023 to 2024), gross margin is negative, and EBIT/EBITDA margins remain negative. The balance sheet is strained with negative shareholders’ equity, and cash flows are negative with free cash flow down 140.6%, raising liquidity and leverage risk.

Income Statement

Excelsior Mining's income statement reveals significant challenges. The company has experienced declining revenues, with a 67.4% drop from 2023 to 2024. Gross profit margins are negative, indicating costs exceed revenues. Although net income turned positive in 2024, this is due to non-operational factors, as EBIT and EBITDA margins remain negative, highlighting operational inefficiencies.

Balance Sheet

The balance sheet shows a concerning financial structure with negative stockholders' equity, indicating liabilities exceed assets. The debt-to-equity ratio is not calculable due to negative equity, but high debt levels pose a risk. The equity ratio is also negative, reflecting financial instability.

Cash Flow

Cash flow analysis indicates negative operating and free cash flows, suggesting liquidity issues. The free cash flow has worsened significantly, with a 140.6% decline from 2023 to 2024. The operating cash flow to net income ratio is negative, indicating cash flow challenges despite reported net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.27M	952.00K	2.92M	4.18M	5.03M
Gross Profit	-6.39M	-1.96M	-5.63M	-6.75M	-8.82M
EBITDA	5.42M	12.85M	-25.19M	37.22M	-69.07M
Net Income	1.43M	8.49M	-28.96M	34.88M	-69.65M
Balance Sheet
Total Assets	267.54M	137.93M	116.41M	118.76M	151.26M
Cash, Cash Equivalents and Short-Term Investments	22.88M	8.34M	6.19M	5.63M	20.85M
Total Debt	6.32M	16.66M	20.27M	15.80M	15.84M
Total Liabilities	327.89M	159.83M	147.13M	127.06M	194.70M
Stockholders Equity	-60.36M	-21.90M	-30.72M	-8.30M	-43.44M
Cash Flow
Free Cash Flow	-137.19M	-31.80M	-13.22M	-15.25M	-15.97M
Operating Cash Flow	-16.50M	-7.65M	-10.66M	-14.06M	-13.45M
Investing Cash Flow	-147.45M	-30.38M	2.67M	-1.18M	-2.56M
Financing Cash Flow	173.42M	40.16M	8.49M	0.00	23.22M

Excelsior Mining Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.48
• 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:GCU, the sentiment is Positive. The current price of 0.48 is below the 20-day moving average (MA) of 0.55, above the 50-day MA of 0.44, and above the 200-day MA of 0.33, indicating a bullish trend. The MACD of 0.05 indicates Positive momentum. The RSI at 54.52 is Neutral, neither overbought nor oversold. The STOCH value of 25.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:GCU.

Excelsior Mining 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%
ECU	55 Neutral	C$194.38M	-64.74	-13.14%	―	―	71.30%
LA	52 Neutral	C$516.58M	-115.20	4.21%	―	―	-41.70%
ATCU	51 Neutral	C$124.36M	-85.81	-1.45%	―	―	―
GCU	49 Neutral	C$233.66M	29.79	―	―	128.86%	―
CUU	39 Underperform	C$436.23M	-575.00	-0.82%	―	―	36.84%
HI	34 Underperform	C$147.57M	-7.96	-33.08%	―	―	22.47%

Excelsior Mining Corporate Events

Gunnison Copper Wipes Out Nebari Debt, Strengthens Balance Sheet

Gunnison Copper Corp. has fully eliminated the remaining US$15 million in principal owed to Nebari Natural Resources Credit Fund I LP through a combination of prior cash repayments and the final conversion of US$4.75 million of debt into 22.65 million common shares, erasing all legacy secured debt under its credit agreement. The company says the move materially strengthens its balance sheet, enhances financial flexibility and aligns with its strategy to rely on an equity-based capital structure ahead of constructing its large-scale Gunnison Copper Project in Arizona, supporting its positioning as a domestic supplier of critical copper for U.S. defense, infrastructure and data center demand while it works with Nebari to release associated security and continues to focus on long-term value creation.

The most recent analyst rating on (TSE:GCU) stock is a Hold with a C$0.52 price target. To see the full list of analyst forecasts on Excelsior Mining stock, see the TSE:GCU Stock Forecast page.

Gunnison Copper Tapped as First Source of Nuton Low‑Carbon Copper for AWS Data Centres

Gunnison Copper announced that Rio Tinto’s Nuton Technology has entered a strategic collaboration with Amazon Web Services, under which AWS will become the first customer for Nuton’s low‑carbon bioleached copper produced at Gunnison’s Johnson Camp Mine in Arizona. AWS will incorporate this copper into components for its U.S. data centres while simultaneously providing cloud-based data and analytics to optimise Nuton’s modular bioleaching system, which uses naturally occurring microorganisms and advanced digital tools to recover high‑purity copper with lower water use, reduced carbon emissions, and a shorter mine‑to‑market supply chain. The deal links a domestic, lower‑carbon copper source directly to a major technology customer, underscoring the strategic role of Johnson Camp in supplying critical materials to data infrastructure and strengthening U.S. supply chain resilience for copper-intensive digital and energy systems.

The most recent analyst rating on (TSE:GCU) stock is a Hold with a C$0.48 price target. To see the full list of analyst forecasts on Excelsior Mining stock, see the TSE:GCU Stock Forecast page.

Gunnison Copper Taps Lunasonde’s Advanced Survey Tech and Progresses Debt Conversion

Gunnison Copper Corp. has entered into a collaboration framework agreement with Lunasonde Inc. to deploy Lunasonde’s airborne georadiotomography technology over part of its Cochise Mining District holdings in southern Arizona, using high-resolution, non-invasive subsurface surveying to identify anomalies with potential for critical minerals and to enhance exploration targeting across its land position. In a separate development, the company reported a further US$500,000 debt-to-equity conversion under its Second Amended and Restated Credit Agreement with Nebari Natural Resources Credit Fund I LP, reducing the outstanding principal and potentially positioning Gunnison to fully repay the facility through additional conversions and expected proceeds from the sale of tax credits, which would strengthen its balance sheet as it advances copper development and production.

The most recent analyst rating on (TSE:GCU) stock is a Hold with a C$0.40 price target. To see the full list of analyst forecasts on Excelsior Mining stock, see the TSE:GCU Stock Forecast page.

Gunnison Copper Achieves Milestone with Rio Tinto’s Nuton Technology

Gunnison Copper Corp. has announced a significant milestone with the successful production of the first copper using Rio Tinto’s Nuton® Technology at the Johnson Camp mine in Arizona. This innovative bioleaching technology, which utilizes microorganisms to extract copper, marks a breakthrough in cleaner and more efficient copper production. The technology promises to enhance the domestic copper supply chain by producing copper with a significantly lower carbon footprint and water usage compared to traditional methods. This development not only strengthens Gunnison Copper’s position in the industry but also highlights the potential for Nuton to revolutionize copper processing globally, with plans for further deployment in North and South America.

Gunnison Copper Achieves Major Debt Reduction Milestone

Gunnison Copper Corp. has fully repaid the US$7.3 million non-convertible portion of its debt with Nebari Natural Resources Credit Fund I LP, marking a significant step in its debt reduction strategy. This repayment enhances the company’s financial flexibility and strengthens its balance sheet, positioning it better within the industry and providing potential benefits to stakeholders.

Gunnison Copper Mourns the Loss of Esteemed Director Colin Kinley

Gunnison Copper Corp. has announced the sudden passing of Colin Kinley, a long-serving Director and Chair of the Compensation Committee, who joined the company in 2010. Kinley was highly respected in the natural resources sector, and his loss is deeply felt by the company and its stakeholders. His contributions to Gunnison and the industry were significant, and his seat on the Board will remain vacant until a new Director is appointed at the next annual meeting.

Gunnison Copper Completes Final Tranche of Private Placement, Raising C$13.3 Million

Gunnison Copper Corp. has successfully closed the second and final tranche of its non-brokered private placement, raising a total of approximately C$13.3 million. This funding will support the company’s ongoing projects, including the Gunnison Copper Project and the Johnson Camp Asset, enhancing its position in the copper industry and providing potential economic benefits to stakeholders.

Gunnison Copper Secures C$13.1 Million in Private Placement to Advance Flagship Project

Gunnison Copper Corp. has successfully closed a non-brokered financing, raising C$13.1 million through the issuance of 29,138,378 Units. The funds will be allocated towards drilling, metallurgical testing, permitting activities for the Gunnison Copper Project, and other financial obligations. This financing strengthens Gunnison’s position in advancing its flagship project, potentially enhancing its market standing and offering promising implications for stakeholders.