Golden Goliath Resources (GNG) AI Stock Analysis

• Market Cap: C$5.43M
• Dividend Yield: N/A
• Average Volume (3M): 67.00K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.25
• Revenue Growth: N/A
• EPS Growth: -495.41%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): N/A
• Shares Outstanding: 49,368,980
• 10 Day Avg. Volume: 117,734
• 30 Day Avg. Volume: 67,004
• PEG Ratio: 0.06
• Price to Book (P/B): 4.12
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -12.64
• 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: 46 Neutral
• Price Target: C$0.10 ▲(22.50% Upside)

The score is primarily held down by weak financial performance (pre-revenue, ongoing losses, and persistent cash burn despite improvement) and limited valuation support (negative P/E and no dividend). Technicals provide a partial offset, with longer-term moving averages positive and momentum indicators generally neutral.

Positive Factors

Debt-free balance sheet

Zero reported debt materially lowers solvency and interest-cost risk for a junior explorer. This structural strength gives management flexibility to allocate scarce capital toward exploration and asset advancement, lengthening runway between equity raises and reducing bankruptcy risk.

Improving losses and cash burn

A demonstrable multi-period reduction in losses and lower cash burn suggests management is cutting costs or running programs more efficiently. Sustained improvement can reduce near-term financing needs, improving chances to reach value-inflecting exploration milestones without relentless dilution.

Established funding & monetization model

The company operates within a durable junior-explorer model: access to equity markets and standard JV/option monetization routes offers repeatable ways to fund exploration and realize asset value. This structural pathway supports project advancement without operating revenue.

Negative Factors

Pre-revenue with persistent losses

No operating revenue and ongoing net losses mean the business cannot generate internal funding for exploration. Long-term dependency on external capital raises execution risk: failure to discover or farm out assets will keep losses and limit prospects for sustainable profitability.

Consistently negative cash flow

Recurrent negative operating and free cash flows show the firm consumes cash across cycles, undermining liquidity resilience. This structural cash burn mandates repeated financing or asset sales, increasing dilution risk and constraining continuous, multi-stage exploration programs.

Declining equity and dilution risk

Sharply falling equity and negative ROE reflect repeated capital raises and loss absorption. This durable trend signals shareholder dilution and raises the threshold for any discovery to materially restore per-share value, making long-term upside contingent on significant resource success or favorable JV terms.

Golden Goliath Resources Business Overview & Revenue Model

Company Description

Golden Goliath Resources Ltd. engages in the acquisition and exploration of resource properties. The company primarily explores and develops gold and silver properties located in the Red Lake District of Ontario, Canada. It also holds a 100% interest in the San Timoteo property located in the Sierra Madre Occidental Mountains of northwestern Mexico; and the La Cruz property located in the central part of Chihuahua. Golden Goliath Resources Ltd. was incorporated in 1996 and is based in Vancouver, Canada.

How the Company Makes Money

Golden Goliath Resources makes money through the discovery and development of mineral resources, primarily gold and silver. The company generates revenue by selling or leasing its mining properties to other mining firms or through joint ventures and partnerships. Additionally, Golden Goliath may engage in the direct extraction and sale of minerals if economically viable. Revenue is also influenced by factors such as the market prices of gold and silver, exploration results, and successful partnerships with larger mining companies.

Golden Goliath Resources Financial Statement Overview

Summary

Overall financial strength is weak: the company is pre-revenue with persistent operating/net losses and consistently negative operating and free cash flow. The key offset is a debt-free balance sheet, but equity has declined and returns on equity remain negative, indicating ongoing dilution risk until revenue and sustainable cash flow emerge.

Income Statement

The company is pre-revenue (revenue is 0 across all periods provided) and continues to post operating losses and net losses. Losses improved materially from the large 2024 annual loss to 2025 annual and TTM (Trailing-Twelve-Months) results, but profitability remains firmly negative and there is no visible sales trajectory to absorb fixed costs.

Balance Sheet

A key positive is the absence of debt (total debt is 0), which reduces financial risk and near-term solvency pressure. However, equity has declined sharply versus prior years and returns on equity are consistently negative, indicating ongoing value dilution from losses despite a still-positive equity base in the latest periods.

Cash Flow

Cash generation is weak: operating cash flow and free cash flow are negative in every period shown, including TTM (Trailing-Twelve-Months). While cash burn improved versus the unusually high 2024 annual outflow, free cash flow growth is highly volatile and the business is not self-funding, implying continued reliance on external capital over time.

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	-294.00	0.00	0.00	0.00	-298.00
EBITDA	-280.46K	-371.00	-435.00K	-415.91K	-990.00K
Net Income	-280.75K	-3.35M	-553.00K	-597.00K	-990.00K
Balance Sheet
Total Assets	854.01K	983.64K	4.16M	4.38M	4.83M
Cash, Cash Equivalents and Short-Term Investments	16.97K	2.83K	446.85K	995.05K	1.78M
Total Debt	0.00	0.00	0.00	0.00	0.00
Total Liabilities	483.44K	332.31K	355.87K	228.00K	362.49K
Stockholders Equity	370.57K	651.32K	3.81M	4.15M	4.47M
Cash Flow
Free Cash Flow	-120.77K	-535.27K	-938.02K	-1.00M	-2.45M
Operating Cash Flow	-117.83K	-535.27K	-281.92K	-268.95K	-330.28K
Investing Cash Flow	131.97K	216.40K	88.40K	145.66K	-3.04M
Financing Cash Flow	0.00	190.00K	187.68K	185.95K	1.20M

Golden Goliath Resources Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.08
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:GNG, the sentiment is Neutral. The current price of 0.08 is below the 20-day moving average (MA) of 0.10, below the 50-day MA of 0.09, and above the 200-day MA of 0.07, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 50.72 is Neutral, neither overbought nor oversold. The STOCH value of 80.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:GNG.

Golden Goliath Resources 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%
AWE	50 Neutral	C$6.78M	-7.10	-17.08%	―	―	―
RKL	50 Neutral	C$5.39M	-2.30	-48.17%	―	―	42.16%
GSS	48 Neutral	C$2.70M	-14.00	-33.93%	―	―	-266.67%
GNG	46 Neutral	C$5.43M	-4.22	―	―	―	-495.41%
LEXI.H	35 Underperform	C$2.41M	-0.29	―	―	―	―

Golden Goliath Resources Corporate Events

Golden Goliath Enters Egyptian Gold Venture in Strategic Shift Toward Production

Golden Goliath Resources has entered a partnership with Nexgold International Mining Company and local Egyptian interests to explore and develop the 15.45-square-kilometre West Gabal El Dehies gold concession in Egypt’s Eastern Desert, marking its first move outside Canada into a historic, highly prospective gold-mining region. Under the agreement, Golden Goliath will hold a 29.5% stake and Nexgold 10%, sharing pro rata in operating and capital costs while Nexgold acts as operator; the deal, deemed a related-party transaction due to overlapping management, is exempt from minority approval requirements and is presented by the board as a strategic turning point that could accelerate the company’s transition from pure exploration toward gold production in a competitive cost environment.

The most recent analyst rating on (TSE:GNG) stock is a Sell with a C$0.09 price target. To see the full list of analyst forecasts on Golden Goliath Resources stock, see the TSE:GNG Stock Forecast page.