GR Silver Mining (GRSL) AI Stock Analysis

• Market Cap: C$216.58M
• Dividend Yield: N/A
• Average Volume (3M): 2.97M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.91
• Revenue Growth: N/A
• EPS Growth: -235.10%
• Country: CA
• Employees: 113
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 433,166,780
• 10 Day Avg. Volume: 2,564,951
• 30 Day Avg. Volume: 2,974,750
• PEG Ratio: -0.02
• Price to Book (P/B): 6.67
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -11.63
• 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$0.63 ▲(36.52% Upside)

The score is held back primarily by weak financial performance (pre-revenue operations with ongoing losses and negative free cash flow), partially offset by a strong technical uptrend and positive momentum. Valuation is middling because the negative P/E reflects unprofitable operations and there is no dividend yield support.

Positive Factors

Debt-free balance sheet

A zero-debt capital structure materially reduces bankruptcy and interest-rate risk and preserves flexibility to fund exploration via equity or partnerships. Over the next 2-6 months this structural strength lowers financing cost sensitivity and supports project advancement options.

Recovered shareholders' equity

A restored equity base and tangible asset backing improve the company’s ability to absorb exploration expenditures and attract strategic partners or JV funding. This stronger capital cushion reduces short-term dilution risk and supports multi-stage project development plans.

Focused precious-metal exploration model

A clear, repeatable business model centered on silver and gold exploration targets well‑understood markets and transaction pathways. Over months, disciplined drilling and resource definition can convert exploration value into sale/jv or development opportunities, a durable strategic path.

Negative Factors

Pre-revenue operations

Being pre-revenue means core operations do not generate sales, so project progress depends on external financing. Over the coming months this structural gap forces capital raises or partner deals, which can dilute equity and slow resource advancement if funding conditions tighten.

Negative operating and free cash flow

Sustained negative operating and free cash flow means the company is consuming capital to fund exploration. This structural cash burn requires ongoing financing, limiting self-funding ability and increasing reliance on equity issuances or partner funding, affecting long-term project timelines.

Earnings volatility and inconsistent returns

Sharp swings in reported results and negative trailing returns make forecasting and partner negotiations harder, raising perceived execution risk. Over months, this inconsistency can hinder strategic deals and elevate investor scrutiny when trying to secure sustained funding or development commitments.

GR Silver Mining Business Overview & Revenue Model

Company Description

GR Silver Mining Ltd. engages in the acquisition, exploration, and development of mineral resource properties primarily in Mexico. The company explores for gold, silver, lead, and zinc deposits. Its projects include San Marcial project covering an area of 1,250 hectares; Plomosas silver project covering an area of 8,515 hectares located in the Rosario Mining District; and La Trinidad project covering an area of approximately 107,392.5 hectares located in Mexico. The company was formerly known as Goldplay Exploration Ltd. and changed its name to GR Silver Mining Ltd. in January 2020. GR Silver Mining Ltd. was incorporated in 2012 and is headquartered in Vancouver, Canada.

How the Company Makes Money

GR Silver Mining generates revenue primarily through the exploration and development of its mineral properties, with a focus on silver and gold. The company aims to increase its resource estimates through exploration activities and feasibility studies. Once a project is deemed economically viable, GR Silver Mining seeks to advance it to production, either independently or through joint ventures with larger mining companies. Revenue is realized when these projects begin producing and selling precious metals. Additionally, the company may engage in strategic partnerships or sell equity stakes in its projects to secure funding for exploration and development activities, which can also contribute to its revenue streams.

GR Silver Mining Financial Statement Overview

Summary

Overall financial statements indicate a pre-revenue business with persistently negative profitability and cash generation (TTM net loss and ~-$6.2M operating/free cash flow). The key positive is a low-risk capital structure with no debt and a materially improved equity position (~$19.2M), but earnings quality/consistency remains weak due to volatility and ongoing losses.

Income Statement

The company remains pre-revenue (revenue is 0 across periods), with persistently negative gross profit and operating results. TTM (Trailing-Twelve-Months) net loss was about -$7.1M, an improvement versus the much larger losses in 2021–2023, but profitability is still not established. A key weakness is the volatility in reported earnings (notably a large profit in 2024 followed by a return to losses in TTM), which reduces confidence in earnings quality and sustainability.

Balance Sheet

The balance sheet shows no debt across the periods provided, which materially lowers financial risk and improves flexibility. Stockholders’ equity has recovered strongly from negative levels in 2023 to ~$19.2M in TTM (Trailing-Twelve-Months), supporting the asset base (~$21.0M). The main weakness is that returns on equity are inconsistent and currently negative in TTM, reflecting ongoing losses despite the improved capital position.

Cash Flow

Cash generation is a clear pressure point: operating cash flow and free cash flow are consistently negative, including TTM (Trailing-Twelve-Months) operating cash flow of about -$6.2M and free cash flow of about -$6.2M. While free cash flow improved versus the prior year (positive free cash flow growth), the business is still consuming cash and is not self-funding. A modest positive is that free cash flow closely tracks net income in the periods shown, but both are negative in TTM.

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	-153.68K	-184.00K	-497.00K	-579.97K	-411.14K	-88.80K
EBITDA	-6.96M	19.47M	-25.10M	-18.21M	-17.79M	-8.65M
Net Income	-7.12M	19.29M	-25.60M	-18.79M	-18.20M	-8.74M
Balance Sheet
Total Assets	20.97M	9.72M	10.72M	25.28M	28.43M	10.84M
Cash, Cash Equivalents and Short-Term Investments	12.39M	1.16M	100.57K	902.24K	3.08M	4.89M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	1.79M	1.90M	26.88M	20.69M	17.16M	1.18M
Stockholders Equity	19.18M	7.82M	-16.15M	4.59M	11.26M	9.67M
Cash Flow
Free Cash Flow	-6.24M	-4.49M	-5.31M	-13.84M	-19.01M	-7.37M
Operating Cash Flow	-6.21M	-4.49M	-5.31M	-13.56M	-15.92M	-6.55M
Investing Cash Flow	-645.45K	1.61M	0.00	-255.69K	-3.08M	-1.18M
Financing Cash Flow	16.93M	3.94M	4.51M	11.64M	17.19M	10.58M

GR Silver Mining Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.46
• 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:GRSL, the sentiment is Positive. The current price of 0.46 is below the 20-day moving average (MA) of 0.51, above the 50-day MA of 0.41, and above the 200-day MA of 0.26, indicating a bullish trend. The MACD of 0.06 indicates Negative momentum. The RSI at 58.34 is Neutral, neither overbought nor oversold. The STOCH value of 41.18 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:GRSL.

GR Silver Mining Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SAM	63 Neutral	C$105.14M	36.11	1.79%	―	26.16%	-8.73%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
GRSL	56 Neutral	C$216.58M	-24.51	-50.60%	―	―	-235.10%
AAG	55 Neutral	C$320.90M	-20.21	-52.22%	―	―	-60.82%
AGX	50 Neutral	C$320.73M	-106.36	-6.09%	―	8.28%	87.46%
SLV	50 Neutral	C$37.01M	-28.26	―	―	―	-1.67%
BCM	49 Neutral	C$271.56M	-1.67	-525.71%	―	-4.16%	-66.82%

GR Silver Mining Corporate Events

GR Silver Maps Out Aggressive 2026 Drilling and Development Plan for San Marcial–Plomosas

GR Silver Mining has outlined an aggressive 2026 program aimed at accelerating resource growth and advancing the integration of its San Marcial and Plomosas assets into a unified silver development project in Mexico. Backed by more than C$34 million in recent equity financing, a strengthened institutional shareholder base, and a debt-free balance sheet, the company plans a 20,000-metre step-out drilling campaign at San Marcial focused on shallow, high-grade silver zones and newly identified parallel breccias, with results feeding into an updated mineral resource estimate in the second half of 2026. In parallel, GR Silver is progressing bulk sampling test mining and evaluating several options for installing a pilot processing plant at the Plomosas Mine, supported by existing permits, expanded technical and managerial capacity in Mexico, and ongoing studies on optimally integrating the two areas. The company is also advancing permitting and environmental work to underpin continued exploration and potential future underground operations, positioning itself as a standout silver explorer with multiple project catalysts in a favorable price environment.

The most recent analyst rating on (TSE:GRSL) stock is a Hold with a C$0.46 price target. To see the full list of analyst forecasts on GR Silver Mining stock, see the TSE:GRSL Stock Forecast page.

GR Silver Maps Out Aggressive 2026 Drilling and Development Plan at Plomosas Project

GR Silver Mining has outlined an aggressive 2026 work program centered on a 20,000-metre resource expansion drilling campaign at San Marcial and the continued integration of the San Marcial and Plomosas areas into a unified silver development project. The company plans extensive step-out drilling to grow shallow, high-grade resources, advance bulk sample test mining and pilot-plant installation options at the Plomosas Mine, and leverage existing permits and new environmental studies to accelerate project advancement. With more than C$34 million raised in late 2025, a debt-free balance sheet, improved share liquidity, and ongoing talks with potential offtake partners, GR Silver is positioning itself for a pivotal year that could materially expand its resource base and move the Plomosas Project closer to production, potentially enhancing its standing among silver explorers and impacting stakeholders through increased project momentum and value catalysts.

The most recent analyst rating on (TSE:GRSL) stock is a Hold with a C$0.46 price target. To see the full list of analyst forecasts on GR Silver Mining stock, see the TSE:GRSL Stock Forecast page.

GR Silver Mining Secures $20 Million Financing for Plomosas Silver Project Expansion

GR Silver Mining successfully closed a $20 million financing deal through an underwritten private placement offering, which included full exercise of an over-allotment option. The funds will enable the company to pursue aggressive drilling and exploration at the San Marcial Area within the Plomosas Project in Mexico, aiming to expand its resource estimates and advance projects like bulk sampling studies and the potential establishment of a pilot plant. This financing positions the company to make significant strides in development, particularly as silver prices remain robust, with 2026 set to potentially become transformative for its operations and value creation for stakeholders.

GR Silver Mining Secures $13 Million for Plomosas Project Expansion

GR Silver Mining Ltd., a company involved in the mining industry, has announced a $13 million bought deal offering of units, which will be used to advance its Plomosas Project in Mexico and for general corporate purposes. The offering consists of 43,334,000 units, each comprising one common share and a half-share purchase warrant, with proceeds to be used for project advancement and working capital. The deal is structured through a LIFE Offering and a Private Placement Offering, with the closing expected around mid-December 2025, subject to regulatory approvals.

GR Silver Mining Unveils High-Grade Silver Intercepts at San Marcial

GR Silver Mining has announced significant results from its step-out drilling at the San Marcial Area, revealing high-grade silver intercepts that extend the mineralization beyond the current resource boundary. The successful drilling results, including notable silver grades, suggest a potential for substantial resource growth, with plans for further drilling in 2026 to explore additional targets and expand the silver mineralization footprint, reinforcing the company’s confidence in the area’s silver-mineralized system.

GR Silver Mining Strengthens Leadership with New Country Manager Appointment

GR Silver Mining has appointed Dr. Cástulo Molina Sotelo as the new Country Manager for Mexico, bringing over 35 years of experience in mineral exploration and project management. This strategic appointment is expected to enhance the company’s operations as it enters a transformational phase in 2026, with significant developments planned at the Plomosas Silver Project, including a step-out drilling program at the San Marcial Area, aiming for resource expansion and long-term value creation for stakeholders.