Kore Mining Ltd (KORE) AI Stock Analysis

• Market Cap: C$15.79M
• Dividend Yield: N/A
• Average Volume (3M): 30.86K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.86
• Revenue Growth: N/A
• EPS Growth: -128.42%
• Country: CA
• Employees: 6
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): >-0.01
• Shares Outstanding: 40,485,268
• 10 Day Avg. Volume: 10,638
• 30 Day Avg. Volume: 30,857
• PEG Ratio: 2.55
• Price to Book (P/B): 1.27K
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -60.17
• 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$0.39 ▲(14.12% Upside)

The score is held down primarily by weak financial fundamentals (no revenue, ongoing losses, negative cash generation) and a sharply deteriorated 2024 capital position. Technicals are a key offset due to a strong uptrend and positive MACD, but very overbought RSI/Stoch increase near-term pullback risk. Valuation is also constrained by negative earnings and no dividend support.

Positive Factors

Focused exploration business model

Clear exploration-stage business model centered on acquiring and advancing gold projects through geological evaluation, drilling and resource definition. That hard-asset development pathway provides a defined route to value creation if exploration success yields economic resources.

Exposure to gold sector

Primary exposure to the gold sector aligns the company with a structurally supported commodity. Gold's long-term demand and macro-hedge properties can materially improve project economics for explorers, enhancing long-term upside if commodity conditions firm.

Improved cash outflow trend

Material reduction in operating cash outflow in 2024 suggests tighter cost control and extended runway. Sustained lower burn improves near-term financing flexibility and increases the odds management can advance targets further before needing dilutive capital raises.

Negative Factors

Severely weakened balance sheet

Shareholders' equity at near-zero with rising debt produced extremely high leverage, sharply elevating solvency and refinancing risk. A minimal equity cushion reduces operational flexibility and makes continuing exploration contingent on successful external funding.

Persistent cash burn and financing reliance

Operating and free cash flow have been negative across all years presented, indicating structural cash burn and chronic reliance on external financing. Persistent negative cash generation increases dilution risk and constrains ability to self-fund long-term exploration work.

Pre-revenue profile with recurring losses

The company reports no revenue and recurring operating losses, reflecting an early-stage, capital-intensive profile. Without operating revenues, long-term value depends on successful resource definition or asset monetization, creating a binary outcome risk for investors.

Kore Mining Ltd Business Overview & Revenue Model

Company Description

KORE Mining Ltd. engages in the exploration, development, and evaluation of mineral resource properties. It focuses on two 100% owned gold projects, including the Imperial project that consists of 654 claims covering an area of approximately 31,000 acres located in Imperial County, southeastern California; and the Long Valley gold development project that cover an area of approximately 15,965 acres located in Mono County, east-central California. The company is headquartered in Vancouver, Canada.

How the Company Makes Money

Kore Mining Ltd makes money primarily through the exploration and development of mineral resources, specifically gold. The company's revenue model is centered around increasing the value of its gold projects through successful exploration and development activities. Key revenue streams include the potential sale of mineral properties, joint ventures, or partnerships with other mining companies that may provide funding or operational support in exchange for a stake in the projects. Additionally, as projects advance and reach production stages, the company may generate revenue through the sale of extracted gold. Significant factors contributing to its earnings include the successful exploration results, favorable gold market conditions, and strategic partnerships or agreements with other industry players that can provide both financial and operational support.

Kore Mining Ltd Financial Statement Overview

Summary

Pre-revenue profile with recurring operating losses and persistent negative operating/free cash flow. Although 2024 cash outflow improved materially, the 2024 balance sheet weakened sharply (equity near zero and debt up), elevating solvency/refinancing risk.

Income Statement

The company reports no revenue across the period provided, consistent with an early-stage/resource development profile. Profitability remains weak with recurring operating losses (EBIT and net income negative in most years), and 2024 net loss (~$1.55M) is still meaningful despite being improved versus 2020–2022. A one-off positive net income in 2021 stands out, but it did not translate into sustained profitability and operating results reverted to losses afterward.

Balance Sheet

Balance sheet risk increased sharply in 2024 as shareholders’ equity fell to near-zero (~$4K) while debt rose to ~$363K, driving extremely high leverage (debt-to-equity ~91x). Earlier years showed a healthier equity base and low leverage, but the 2024 capital position is the key concern: limited equity cushion reduces financial flexibility and increases refinancing/solvency risk if losses persist.

Cash Flow

Cash burn remains a structural issue, with operating and free cash flow negative in every year shown. That said, 2024 cash outflow improved materially (operating cash flow about -$84K versus -$1.01M in 2023), suggesting tighter cost control or timing benefits. Despite the improvement, the business is still not self-funding, implying continued reliance on external financing, which is more challenging given the weakened 2024 equity position.

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	-20.78K	-37.11K	-105.00K	-192.00K	-126.00K	-20.29K
EBITDA	-1.59M	-1.47M	-1.44M	-4.00M	447.51K	-9.17M
Net Income	-1.66M	-1.55M	-1.56M	-4.22M	295.37K	-9.20M
Balance Sheet
Total Assets	2.05M	2.33M	2.13M	3.32M	6.21M	8.38M
Cash, Cash Equivalents and Short-Term Investments	507.00	4.74K	22.21K	743.34K	3.59M	4.91M
Total Debt	359.70K	363.31K	314.37K	78.34K	215.66K	106.15K
Total Liabilities	2.67M	2.33M	841.41K	751.19K	961.35K	1.44M
Stockholders Equity	-615.19K	3.99K	1.29M	2.57M	5.25M	6.94M
Cash Flow
Free Cash Flow	25.56K	-84.03K	-1.01M	-3.49M	-8.37M	-10.28M
Operating Cash Flow	25.56K	-84.03K	-1.01M	-3.49M	-8.26M	-8.62M
Investing Cash Flow	0.00	0.00	0.00	0.00	-229.00K	-1.66M
Financing Cash Flow	38.45K	79.98K	216.55K	616.50K	7.18M	11.96M

Kore Mining Ltd Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.34
• 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:KORE, the sentiment is Positive. The current price of 0.34 is below the 20-day moving average (MA) of 0.38, above the 50-day MA of 0.27, and above the 200-day MA of 0.19, indicating a bullish trend. The MACD of 0.04 indicates Positive momentum. The RSI at 59.57 is Neutral, neither overbought nor oversold. The STOCH value of 42.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:KORE.

Kore Mining Ltd 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%
FNX	52 Neutral	C$9.57M	-18.60	-80.25%	―	―	17.98%
KORE	49 Neutral	C$15.79M	-8.99	-7091.27%	―	―	-128.42%
VVC	45 Neutral	C$8.59M	-4.41	-5.85%	―	-1.81%	52.11%
PGC	43 Neutral	C$6.92M	-4.62	-341.20%	―	―	-364.29%
FNAU	43 Neutral	C$9.54M	-21.50	-66.97%	―	―	-47.97%

Kore Mining Ltd Corporate Events

Kore Mining Expands Private Placement Amid Strong Demand

Kore Mining Ltd. has successfully closed the first tranche of its non-brokered private placement, raising $3 million through the issuance of 25 million units. Due to strong demand, the company has increased the offering size and plans to close a second tranche, which could result in a new control person, Mr. James Hynes, holding a significant share of the company. The proceeds will be used for permitting, exploration, and general corporate purposes, with the offering subject to regulatory approvals.