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Kootenay Silver Inc (TSE:KTN)
:KTN

Kootenay Silver (KTN) AI Stock Analysis

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TSE:KTN

Kootenay Silver

(KTN)

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Neutral 54 (OpenAI - 5.2)
Rating:54Neutral
Price Target:
C$2.00
▼(-9.09% Downside)
The score is held back primarily by weak financial performance (no revenue, widening losses, and worsening free cash flow burn), partially offset by a strong low-leverage balance sheet and solid bullish technical trend/momentum. Valuation remains challenging due to negative earnings and no stated dividend support.
Positive Factors
Low leverage balance sheet
Extremely low leverage (debt-to-equity ~0.002) provides durable financial flexibility for an exploration company. It reduces bankruptcy and creditor risk, supports continued drilling and technical work, and makes the company a more attractive partner or acquisition target over the next months.
Material asset/equity base
A sizable asset and equity base (assets ~57.7M; equity ~57.3M) gives the company substantive resource value and balance-sheet optionality. This underpins the ability to structure JV/option deals, secure project-level funding, or negotiate asset sales without relying solely on immediate operating cash flow.
Established exploration monetization pathways
The company’s explicit monetization model—asset sales, joint ventures/options, or royalty/streaming arrangements—is durable for explorers. It allows value realization without operating mines, attracts partner-funded exploration, and enables staged de-risking that can convert geological progress into funding or transactions.
Negative Factors
No revenue; widening net losses
Absence of operating revenue and widening TTM net losses (-5.37M vs -4.44M) indicate the business remains pre-revenue and capital intensive. Over a multi-month horizon this limits internal funding ability, increases reliance on external capital, and elevates execution risk until projects produce demonstrable transaction value.
Consistent negative cash flow and rising burn
Persistent negative operating cash flow and a deteriorating free cash flow (-8.59M TTM from -3.71M) reflect rising cash burn. This structural cash deficit necessitates ongoing financing, raising dilution and financing execution risk, and could slow project advancement absent partner-funded programs or asset sales.
Negative returns on equity
A negative TTM ROE (~-11.7%) signals the company is currently destroying equity capital rather than generating returns. For long-term investors and potential partners this undermines confidence until exploration results or transactions materially improve resource economics or project valuations.

Kootenay Silver (KTN) vs. iShares MSCI Canada ETF (EWC)

Kootenay Silver Business Overview & Revenue Model

Company DescriptionKootenay Silver Inc., an exploration stage company, engages in the acquisition, exploration, and development of mineral properties in Mexico and Canada. The company explores for silver, gold, lead, and zinc ores. It primarily holds interests in the La Cigarra silver project covering an area of approximately 18,000 hectares located within the Parral Mining District in the state of Chihuahua, north central Mexico; Promontorio and La Negra silver discoveries situated in Sonora, Mexico; Columba Silver project located in Chihuahua, Mexico; and Copalito Silver-gold project located in Sinaloa, Mexico. The company was formerly known as Kootenay Gold Inc. and changed its name to Kootenay Silver Inc. in February 2012. Kootenay Silver Inc. is based in Vancouver, Canada.
How the Company Makes MoneyKootenay Silver makes money primarily through the exploration and development of mineral properties, with a focus on silver. The company's revenue model involves several key streams: raising capital through equity financing to fund exploration activities, increasing the value of its mineral assets through exploration and development, and ultimately monetizing these assets through sales or joint ventures with larger mining companies. Significant partnerships with other mining companies can also provide funding and resources for exploration projects, thereby contributing to the company's earnings. Additionally, successful exploration results can enhance the company's market valuation, attracting further investment and potential partnership opportunities.

Kootenay Silver Financial Statement Overview

Summary
Despite a very low-debt balance sheet (debt-to-equity ~0.002), the company has no revenue, widening losses (TTM net income -5.37M), and persistent cash burn with deteriorating TTM free cash flow (-8.59M vs. -3.71M in 2024). Financial strength is primarily balance-sheet based, while profitability and cash flow remain key risks.
Income Statement
14
Very Negative
The company reports no revenue across the period provided, and profitability remains consistently negative. TTM (Trailing-Twelve-Months) net income was -5.37M (vs. -4.44M in 2024), indicating losses have widened. Operating results are also deeply negative (TTM EBIT of -5.74M), showing the business is still in a heavy investment/exploration phase with limited near-term earnings visibility.
Balance Sheet
72
Positive
The balance sheet is conservatively financed with very low leverage: TTM total debt is ~90.8K against ~57.3M of equity (debt-to-equity ~0.002). Asset levels are stable (TTM assets ~57.7M). The key weakness is persistent negative returns on equity (TTM ROE about -11.7%), reflecting ongoing losses despite a strong equity base.
Cash Flow
22
Negative
Cash generation remains weak, with negative operating cash flow in every period shown (TTM operating cash flow -3.81M). Free cash flow is also consistently negative and deteriorated in TTM to -8.59M from -3.71M in 2024, implying higher cash burn. A positive free cash flow growth rate in TTM appears driven by fluctuations in a still-negative base, so funding needs likely remain ongoing until operations mature or financing improves.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue0.000.000.000.000.000.00
Gross Profit-41.77K-35.13K-20.35K-33.30K-47.47K-42.56K
EBITDA-5.62M-4.41M-4.42M-77.87M-2.26M-2.14M
Net Income-5.37M-4.44M-4.44M-77.90M-4.82M-2.03M
Balance Sheet
Total Assets57.71M37.26M23.54M22.51M88.75M94.40M
Cash, Cash Equivalents and Short-Term Investments21.82M6.03M1.69M6.22M2.54M11.34M
Total Debt90.75K117.35K0.000.000.000.00
Total Liabilities361.85K409.60K438.57K324.53K304.64K366.93K
Stockholders Equity57.35M36.85M23.10M22.19M88.44M94.04M
Cash Flow
Free Cash Flow-8.59M-3.71M-7.47M-9.22M-8.72M-8.31M
Operating Cash Flow-3.81M-3.63M-3.18M-4.29M-3.17M-2.64M
Investing Cash Flow-7.41M-6.59M-2.68M-5.18M-5.59M-5.74M
Financing Cash Flow24.63M15.05M3.32M10.27M412.06K10.22M

Kootenay Silver Technical Analysis

Technical Analysis Sentiment
Positive
Last Price2.20
Price Trends
50DMA
2.11
Negative
100DMA
1.86
Positive
200DMA
1.50
Positive
Market Momentum
MACD
-0.04
Positive
RSI
44.80
Neutral
STOCH
14.47
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:KTN, the sentiment is Positive. The current price of 2.2 is below the 20-day moving average (MA) of 2.26, above the 50-day MA of 2.11, and above the 200-day MA of 1.50, indicating a neutral trend. The MACD of -0.04 indicates Positive momentum. The RSI at 44.80 is Neutral, neither overbought nor oversold. The STOCH value of 14.47 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:KTN.

Kootenay Silver Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
54
Neutral
C$181.08M-22.78-11.69%-0.78%
53
Neutral
C$329.72M-28.42-130.74%-135.80%
52
Neutral
C$191.82M-60.44-5.64%13.33%
52
Neutral
C$136.45M-17.91-8.15%52.70%60.33%
52
Neutral
C$140.92M-14.75-20.00%21.09%
49
Neutral
C$234.42M-10.55-116.89%12.26%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:KTN
Kootenay Silver
1.77
0.72
68.57%
TSE:APGO
Apollo Gold
4.53
3.31
269.80%
TSE:SVE
Silver One Resources
0.55
0.31
124.49%
TSE:IPT
IMPACT Silver
0.39
0.16
71.11%
TSE:KUYA
Kuya Silver
0.90
0.59
190.32%
TSE:BIG
Bald Eagle Gold
0.73
0.16
29.46%

Kootenay Silver Corporate Events

Business Operations and StrategyPrivate Placements and Financing
Kootenay Silver Upsizes Bought-Deal Financing to C$16.5 Million for Mexican Projects
Positive
Jan 22, 2026

Kootenay Silver has upsized its previously announced bought-deal private placement from C$10 million to C$16.5 million in gross proceeds following strong investor demand, with Red Cloud Securities leading the syndicate of underwriters. The financing, conducted under Canada’s listed issuer financing exemption and expected to close on February 10, 2026 subject to TSX Venture Exchange and other approvals, will fund advancement of the company’s Columba and La Cigarra silver projects in Mexico and bolster working capital, reinforcing its growth plans in key Mexican silver districts.

The most recent analyst rating on (TSE:KTN) stock is a Hold with a C$2.50 price target. To see the full list of analyst forecasts on Kootenay Silver stock, see the TSE:KTN Stock Forecast page.

Business Operations and StrategyPrivate Placements and Financing
Kootenay Silver Launches C$10 Million Bought-Deal Financing to Advance Mexican Projects
Positive
Jan 22, 2026

Kootenay Silver has arranged a C$10 million bought-deal private placement with Red Cloud Securities, under which underwriters will acquire 4,444,445 common shares at C$2.25 each, with an option to sell a further 666,667 shares for up to an additional C$1.5 million in gross proceeds. The financing, conducted under the listed issuer financing exemption in most Canadian provinces and via private placement in the U.S. and certain international jurisdictions, is intended to fund advancement of the Columba and La Cigarra silver projects in Mexico as well as general working capital, and is expected to close on or around February 10, 2026, subject to regulatory and stock exchange approvals, marking a meaningful capital injection to support the company’s growth plans in its core Mexican silver portfolio.

The most recent analyst rating on (TSE:KTN) stock is a Hold with a C$2.50 price target. To see the full list of analyst forecasts on Kootenay Silver stock, see the TSE:KTN Stock Forecast page.

Business Operations and StrategyPrivate Placements and Financing
Kootenay Silver Launches C$10 Million Bought-Deal Financing to Advance Mexican Silver Projects
Positive
Jan 22, 2026

Kootenay Silver Inc. has arranged a bought-deal private placement with Red Cloud Securities and a syndicate of underwriters to raise approximately C$10 million through the sale of 4,444,445 common shares at C$2.25 each, with an over-allotment option for an additional 666,667 shares that could lift total gross proceeds by about C$1.5 million. The financing, conducted under the listed issuer financing exemption in most Canadian provinces and placed privately in the United States and other jurisdictions, is intended to fund advancement of the Columba and La Cigarra silver projects in Mexico and support general working capital, underscoring Kootenay’s strategy to accelerate development of its key assets and strengthen its position in the junior silver exploration sector, subject to customary closing conditions and TSX Venture Exchange approval.

The most recent analyst rating on (TSE:KTN) stock is a Hold with a C$2.50 price target. To see the full list of analyst forecasts on Kootenay Silver stock, see the TSE:KTN Stock Forecast page.

Business Operations and Strategy
Kootenay Silver Orders La Cigarra PEA and Ramps Up Drilling at Columba
Positive
Jan 20, 2026

Kootenay Silver has commissioned engineering firms Sacré-Davey Engineering and Canenco Consulting to complete a Preliminary Economic Assessment for its La Cigarra silver deposit in Mexico’s Parral mining district, with delivery expected in the second quarter of 2026. The company is simultaneously running an aggressive 50,000-metre drilling campaign at its Columba project, aiming to nearly double its maiden resource from 54 million to 100 million ounces of silver, and positioning itself to emerge from 2026 as a silver developer with multiple NI 43-101 compliant deposits and advanced engineering studies supporting a potential development pipeline.

The most recent analyst rating on (TSE:KTN) stock is a Hold with a C$2.50 price target. To see the full list of analyst forecasts on Kootenay Silver stock, see the TSE:KTN Stock Forecast page.

Business Operations and Strategy
Kootenay Silver Extends High-Grade Veins at Columba Project With New Drill Results
Positive
Jan 8, 2026

Kootenay Silver reported new assay results from nine drill holes at its Columba High Grade Silver Project in Chihuahua, Mexico, as part of a larger 50,000-metre drill campaign aimed at expanding the existing 54.1-million-ounce inferred silver resource. The latest drilling on the D Vein and Lupe/B2 vein systems confirms mineralization remains open at depth and along strike, with several wide intercepts and locally very high silver and base metal grades, including high-grade “blind” and hangingwall structures that suggest potential for additional resource growth. These results support the company’s strategy of systematically stepping out from known structures on roughly 100-metre centres, reinforcing Columba’s potential scale and continuity despite slower-than-normal assay turnaround times, and could strengthen Kootenay’s exploration profile if subsequent drilling continues to validate the high-grade, multi-vein corridor.

The most recent analyst rating on (TSE:KTN) stock is a Hold with a C$2.00 price target. To see the full list of analyst forecasts on Kootenay Silver stock, see the TSE:KTN Stock Forecast page.

Business Operations and Strategy
Kootenay Silver Extends High-Grade Mineralization at Columba with New Drill Results
Positive
Jan 8, 2026

Kootenay Silver reported new assay results from nine additional drill holes in its ongoing 50,000-metre drill program at the Columba project in Chihuahua, aimed at expanding the existing high-grade silver resource that remains open in all directions. The latest holes, which tested the D Vein and the Lupe/B2 vein systems at roughly 100-metre step-outs, delivered multiple high-grade silver intercepts and broad mineralized envelopes, confirming that these structures continue at depth and along strike and demonstrate strong potential for both increased tonnage and grade. These results reinforce Columba’s growth potential and suggest further resource expansion could enhance Kootenay’s project economics and strategic standing in the silver exploration sector, although the company noted that unusually long assay turnaround times are slowing the pace of reporting.

The most recent analyst rating on (TSE:KTN) stock is a Hold with a C$2.00 price target. To see the full list of analyst forecasts on Kootenay Silver stock, see the TSE:KTN Stock Forecast page.

Business Operations and StrategyRegulatory Filings and Compliance
Kootenay Silver Responds to OTC Markets Inquiry on Promotion Activities
Neutral
Dec 18, 2025

Kootenay Silver Inc. issued a statement clarifying its engagement with Sideways Frequency LLC to provide promotional and investor relations services for its shares traded on the OTCQX marketplace. The company highlighted the compliance of these activities with regulatory guidelines and stated that recent trading volume growth was primarily influenced by increased silver prices and positive drilling results rather than promotional efforts. This initiative has likely improved awareness among stakeholders about Kootenay’s operations and market positioning.

Business Operations and Strategy
Kootenay Silver Reports Promising Initial Drill Results at Columba Project
Positive
Nov 19, 2025

Kootenay Silver Inc. has announced the results from the initial seven holes of its ongoing 50,000-meter drill program at the Columba High Grade Silver Project in Mexico. The drilling aims to extend and expand known mineralization, with significant discoveries of porphyry style gold mineralization along the I Vein. The results indicate potential for a different deposit type, highlighting the project’s complexity and potential. The company plans to increase drilling capacity to further explore these promising targets, which could enhance its industry positioning and stakeholder value.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jan 24, 2026