Graycliff Exploration (GRAY) AI Stock Analysis

• Market Cap: C$770.43K
• Dividend Yield: N/A
• Average Volume (3M): 25.35K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.17
• Revenue Growth: N/A
• EPS Growth: 44.88%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): -0.01
• Shares Outstanding: 4,402,460
• 10 Day Avg. Volume: 32,761
• 30 Day Avg. Volume: 25,351
• PEG Ratio: 0.02
• Price to Book (P/B): -0.70
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -4.91
• 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: 52 Neutral
• Price Target: C$0.15 ▼(-5.00% Downside)

The score is held down primarily by weak financial performance (no revenue, ongoing losses, and negative equity), which raises funding and solvency risk. Technicals are the main offset, with a clear uptrend and positive momentum. Valuation contributes modestly negatively due to unprofitability and no dividend support.

Positive Factors

Improving cash burn and EBIT

Reduced cash burn and materially improved EBIT in 2024 extend operational runway and show management tightened costs. This durable improvement lowers near-term financing pressure, enabling the company to advance exploration programs and better position for partner-funded transactions.

Modest absolute debt levels

Very low absolute debt limits fixed interest obligations and preserves flexibility for a junior explorer. With minimal leverage, more of any new capital can be allocated to exploration or restructuring, reducing insolvency risk from debt servicing while the company pursues project value creation.

Multiple monetization paths for projects

As a typical exploration-stage model, the ability to option properties, form JVs, or secure royalties provides structurally diverse routes to de‑risk projects and obtain partner-funded drilling. These enduring pathways can convert exploration upside into non-dilutive or less-dilutive capital.

Negative Factors

No revenue and persistent operating losses

The absence of operating revenue and ongoing losses mean the company cannot self-fund operations or project advancement. Over the medium term this forces continual capital raises or partner deals, increasing execution risk and making long-term project development dependent on external financing.

Negative shareholders' equity

Negative equity is a structural solvency concern that limits access to credit, may trigger covenant or counterparty issues, and undermines investor confidence. Persistently negative net worth raises the likelihood of dilutive financing, asset sales, or constrained strategic options over the coming months.

Ongoing reliance on external funding

Dependence on equity financings or partner funding is inherent and ongoing. This structural funding reliance increases dilution and execution timing risk, and makes exploration progress sensitive to capital market conditions and partner appetite, limiting independent project advancement.

Graycliff Exploration Business Overview & Revenue Model

Company Description

Graycliff Exploration Limited engages in the acquisition, exploration, development, and extraction of natural resources in Canada. It explores for gold and precious metals. The company holds 100% interest in the Shakespeare gold project comprise 68 claims located in Ontario. Graycliff Exploration Limited was incorporated in 2016 and is headquartered in Vancouver, Canada.

How the Company Makes Money

Graycliff Exploration makes money through the exploration and development of mineral properties, primarily focusing on gold. The company's revenue model involves identifying promising mineral sites, conducting exploration activities to assess the potential and value of these sites, and then either developing them into operational mines or selling the exploration rights to larger mining companies. Key revenue streams include the sale of mineral rights, potential future production revenues from developed projects, and equity financing. The company may also enter into joint ventures or partnerships with other mining or exploration companies to share costs and risks, thereby enhancing its revenue potential.

Graycliff Exploration Financial Statement Overview

Summary

Fundamentals remain weak: no revenue across periods, ongoing operating losses, and negative shareholders’ equity (solvency risk). Offsetting positives include a material improvement in EBIT and a sharply reduced cash burn in 2024, but the business still appears reliant on external funding.

Income Statement

The company has reported no revenue across all periods provided, while operating losses remain persistent. Losses have narrowed materially from 2021–2022 levels (EBIT improved from -4.9M in 2021 to -261K in 2024), but profitability is still firmly negative and there is no demonstrated path to self-funding operations through revenue generation.

Balance Sheet

The balance sheet has weakened significantly, with shareholders’ equity turning negative by 2023 and deteriorating further in 2024 (-379K), which is a major solvency red flag. Debt is modest in absolute dollars (78K in 2024), but negative equity limits financial flexibility and can increase reliance on external funding; total assets also declined sharply versus earlier years, signaling a smaller capital base.

Cash Flow

Cash burn remains ongoing, with operating cash flow and free cash flow negative each year, but the magnitude has improved substantially in the most recent year (operating cash flow -54K in 2024 vs. -285K in 2023 and much larger burns in 2021–2022). This improving trajectory is a positive, though cash generation is still insufficient and continued funding needs remain likely absent revenue.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-8.72K	-17.45K	-17.45K	-10.18K	0.00	0.00
EBITDA	-256.47K	-261.12K	-507.59K	-2.25M	-4.89M	-1.90M
Net Income	-230.04K	-225.75K	-744.99K	-2.26M	-4.81M	-1.89M
Balance Sheet
Total Assets	6.63K	58.34K	111.14K	591.61K	2.18M	1.13M
Cash, Cash Equivalents and Short-Term Investments	3.24K	9.29K	38.03K	347.60K	1.59M	1.03M
Total Debt	7.65K	77.90K	69.62K	82.34K	0.00	432.40K
Total Liabilities	435.76K	437.24K	264.29K	119.77K	63.45K	642.61K
Stockholders Equity	-429.14K	-378.90K	-153.15K	471.83K	2.11M	486.38K
Cash Flow
Free Cash Flow	1.93K	-53.75K	-285.32K	-1.80M	-3.29M	-640.51K
Operating Cash Flow	1.93K	-53.75K	-285.32K	-1.80M	-3.29M	-640.51K
Investing Cash Flow	25.00	25.00K	307.31K	445.54K	-752.85K	0.00
Financing Cash Flow	-23.03K	0.00	-24.24K	557.14K	3.86M	1.24M

Graycliff Exploration Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.16
• 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:GRAY, the sentiment is Positive. The current price of 0.16 is above the 20-day moving average (MA) of 0.16, above the 50-day MA of 0.15, and above the 200-day MA of 0.10, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 54.17 is Neutral, neither overbought nor oversold. The STOCH value of 62.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:GRAY.

Graycliff 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%
GRAY	52 Neutral	C$770.43K	-5.42	―	―	―	44.88%
STW	43 Neutral	C$1.14M	-1.38	-22.84%	―	―	67.32%
KLM	31 Underperform	C$456.21K	-0.59	-175.80%	―	―	13.78%

Graycliff Exploration Corporate Events

Graycliff Exploration Raises $440,000, Restructures Debt and Adds 17% Shareholder in Private Placement

Graycliff Exploration Limited has closed a private placement raising $440,000 through the issuance of 4.4 million common shares, combining $113,000 in new equity financing with $327,000 in debt settlements, with proceeds earmarked for general corporate and working capital purposes. The transaction, which involved insiders subscribing for 2.22 million shares under related-party exemptions and carries a four-month-plus-one-day hold period, is intended to shore up the company’s challenged financial position as it advances exploration at its Shakespeare gold project; the financing also brings new significant shareholder Arndt Roehlig to a roughly 17% stake, underscoring a reshaping of the junior explorer’s capital structure and insider ownership profile.

The most recent analyst rating on (TSE:GRAY) stock is a Hold with a C$0.16 price target. To see the full list of analyst forecasts on Graycliff Exploration stock, see the TSE:GRAY Stock Forecast page.

Graycliff Exploration Names New CEO and Launches $440,000 Private Placement

Graycliff Exploration Limited has appointed Arndt Roehlig as its new president, chief executive officer and director, leveraging his decades of experience raising capital and managing Canadian public companies in the resource and technology sectors, while former CEO James Macintosh moves into the role of chairman. At the same time, the company is seeking to strengthen its balance sheet through a non-brokered private placement of up to 4.4 million common shares at $0.10 each, for potential gross proceeds of $440,000 earmarked for general corporate and working capital purposes, with the financing subject to regulatory approvals and signaling an effort to support ongoing exploration and corporate activities at its Shakespeare gold project.

Graycliff Exploration Announces Share Consolidation

Graycliff Exploration Limited has announced a share consolidation, reducing its outstanding common shares from approximately 17.6 million to 4.4 million. This strategic move, pending approval from the Canadian Securities Exchange, aims to streamline the company’s share structure without changing its name or stock symbol, potentially impacting its market positioning and shareholder value.