iMetal Resources (IMR) AI Stock Analysis

• Market Cap: C$5.05M
• Dividend Yield: N/A
• Average Volume (3M): 38.50K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.38
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: CA
• Employees: N/A
• Sector: General
• Sector Strength: N/A
• Industry: Gold
• EPS (TTM): -0.02
• Shares Outstanding: 40,361,070
• 10 Day Avg. Volume: 44,290
• 30 Day Avg. Volume: 38,502
• PEG Ratio: 0.01
• Price to Book (P/B): 0.20
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -1.63
• 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: 41 Neutral
• Price Target: C$0.12 ▼(-15.00% Downside)

The score is weighed down primarily by weak financial performance (no revenue, recurring losses, and ongoing cash burn) and bearish technicals (price below key moving averages with negative MACD). A low-debt balance sheet provides some risk mitigation, but valuation metrics offer limited support given negative earnings and no dividend.

Positive Factors

Conservative balance sheet (low debt)

The company’s near-zero debt position materially reduces solvency and refinancing risk over the medium term, giving management flexibility to fund exploration or bridge financing needs. For an early-stage gold explorer, low leverage preserves optionality while losses persist.

Improving free cash flow trend (FY2025)

A materially smaller negative free cash flow in FY2025 signals initial progress toward cash efficiency. If the trend continues, reduced burn can extend runway, lower reliance on dilutive financing, and support steady project advancement — a durable operational improvement.

Smaller FY2025 losses vs FY2024

Reduced annual losses indicate operational progress or cost control that may be sustainable as exploration programs mature. Continued narrowings of losses are a structural positive, improving prospects for eventual cash flow breakeven and easing capital-raising pressures.

Negative Factors

No revenue; recurring net losses

The absence of revenue and persistent net losses mean the business is not generating operating cash and remains dependent on external funding. Over months this raises dilution risk, limits self-funded growth, and makes long-term viability contingent on project success or new capital.

Persistent cash burn; TTM free cash flow negative

Continued negative operating and free cash flow, with TTM burn around -2.37M, erodes liquidity and forces repeated financings if unaddressed. Structurally, sustained cash burn limits ability to advance projects, drives dilution, and increases execution risk over the coming quarters.

Negative returns on equity (value erosion)

A negative TTM ROE indicates the company is destroying shareholder value rather than generating returns. This structural weakness undermines capital attraction, making future fundraising harder and costlier and signaling that asset or project economics must improve to reverse value erosion.

iMetal Resources Business Overview & Revenue Model

Company Description

iMetal Resources Inc., a junior exploration company, focuses on the acquisition, exploration, development, and evaluation of resource properties in Ontario and Quebec in Canada. The company explores for precious and base metal resources. Its flagship property is the Gowganda West project covering an area of approximately 147 squares kilometers located in Ontario; Kerrs Gold property covering an area of 665 hectares located in Ontario; and Ghost Mountain property consists of eleven claim units covering an area of 220 hectares located in Ontario. The company also holds 100% interest in the Carheil project encompasses approximately 5,400 acres of contiguous land located in the Abitibi region of Quebec. The company was formerly known as Adroit Resources Inc. and changed its name to iMetal Resources Inc. in November 2015. iMetal Resources Inc. was incorporated in 1993 and is headquartered in Vancouver, Canada.

How the Company Makes Money

iMetal Resources Financial Statement Overview

Summary

Financials are weak: no revenue, recurring net losses, and negative operating/free cash flow across periods with TTM losses and cash burn re-expanding. The main offset is a low-debt balance sheet that reduces near-term solvency and refinancing risk, but negative ROE reflects ongoing value erosion.

Income Statement

Across the period (including TTM (Trailing-Twelve-Months)), the company reports no revenue and consistent operating losses, with net income remaining negative every year. Losses were smaller in FY2025 versus FY2024, but TTM (Trailing-Twelve-Months) losses re-expanded (net loss of about -2.21M vs. -1.11M in FY2025), signaling profitability remains highly dependent on future project success rather than current operations.

Balance Sheet

The balance sheet is conservatively levered, with essentially no debt in recent periods (debt-to-equity at or near 0), which reduces financial risk and refinancing pressure. That said, returns on equity are consistently negative (TTM (Trailing-Twelve-Months) ROE about -0.38), indicating ongoing value erosion driven by losses; equity levels have also fluctuated, reflecting funding needs and/or revaluations typical of early-stage resource companies.

Cash Flow

Cash generation is weak, with operating cash flow and free cash flow negative in all periods, reflecting persistent cash burn to sustain operations and exploration. While free cash flow was materially less negative in FY2025 than FY2024, TTM (Trailing-Twelve-Months) cash burn increased again (free cash flow about -2.37M), and cash flow does not yet show a stable improving trajectory.

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	-1.06K	-1.24K	-1.78K	-2.54K	-3.63K	-5.18K
EBITDA	-2.16M	-1.06M	-2.25M	-2.14M	-1.65M	-1.85M
Net Income	-2.21M	-1.11M	-2.26M	-2.15M	-1.66M	-1.86M
Balance Sheet
Total Assets	7.44M	6.78M	5.80M	7.42M	6.46M	4.15M
Cash, Cash Equivalents and Short-Term Investments	49.57K	157.88K	12.37K	893.54K	1.98M	882.47K
Total Debt	0.00	0.00	0.00	0.00	9.54K	9.04K
Total Liabilities	1.10M	1.75M	678.82K	402.73K	244.54K	299.56K
Stockholders Equity	6.34M	5.03M	5.12M	7.02M	6.21M	3.85M
Cash Flow
Free Cash Flow	-2.37M	-606.99K	-1.22M	-4.13M	-1.74M	-1.88M
Operating Cash Flow	-2.26M	-606.99K	-826.07K	-2.33M	-1.36M	-1.59M
Investing Cash Flow	-858.26K	-138.81K	-393.62K	-1.80M	-374.07K	-293.53K
Financing Cash Flow	3.13M	891.30K	338.52K	3.04M	2.84M	2.77M

iMetal Resources Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
NVX	48 Neutral	C$7.02M	-3.23	-50.32%	―	―	-40.12%
ZFR	48 Neutral	C$5.65M	-19.70	-5.00%	―	―	21.43%
XIM	47 Neutral	C$4.89M	-1.49	―	―	―	45.20%
GGC	46 Neutral	C$4.27M	-10.48	-234.17%	―	―	26.19%
IMR	41 Neutral	C$5.05M	-0.82	-27.44%	―	―	―

iMetal Resources Corporate Events

iMetal Resources Adopts New Incentive Plan and Corrects Flow-Through Financing Details

iMetal Resources has received shareholder approval for a new omnibus incentive plan that allows the company to grant stock options, restricted share units and deferred share units, reserving up to 10% of its outstanding share capital for options and an additional 1,007,465 shares for other equity-based incentives. The company also corrected its previously reported figures for a December 17, 2025 flow-through private placement, confirming it issued 4,164,623 units at $0.13 per unit for total gross proceeds of $541,400.99, a clarification that provides investors with more accurate information on its recent financing activities and equity compensation capacity.

The most recent analyst rating on (TSE:IMR) stock is a Sell with a C$0.13 price target. To see the full list of analyst forecasts on iMetal Resources stock, see the TSE:IMR Stock Forecast page.

iMetal Resources Raises $540,901 in Flow-Through Financing to Advance Gowganda West Exploration

iMetal Resources has closed a non-brokered private placement of 4,160,777 flow-through units at $0.13 per unit, raising gross proceeds of approximately $540,901. Each unit consists of one flow-through common share and half a warrant, with full warrants exercisable at $0.20 until December 17, 2027, and the company also issued finder’s warrants and cash commissions to intermediaries, with all securities subject to resale restrictions until April 18, 2026. The financing strengthens iMetal’s funding position for exploration work at its Gowganda West gold property in Ontario’s Abitibi Greenstone Gold Belt, supporting ongoing advancement of its flagship project and reinforcing its positioning as a junior explorer focused on unlocking value in a highly prospective mining camp.

iMetal Resources Announces $520,000 Flow-Through Financing for Exploration

iMetal Resources Inc. has announced a non-brokered private placement offering of up to 4,000,000 flow-through units at $0.13 per unit, aiming to raise $520,000. The proceeds will be used for exploration activities at the Gowganda West Property in Ontario, which could enhance the company’s exploration capabilities and potentially impact its market positioning in the gold exploration sector.

iMetal Resources Completes 2025 Drilling at Gowganda West

iMetal Resources has completed its 2025 Phase I drilling at the Gowganda West project, focusing on expanding the mineralized footprint of a previously discovered gold zone. The drilling program, which extended beyond initial plans due to geological recommendations, intersected host rocks with mineralization patterns similar to past findings. The results are anticipated to impact iMetal’s operations positively, especially with the rising gold prices and increased market liquidity, and could enhance its positioning in the gold exploration industry.