Leocor Gold (LECR) AI Stock Analysis

• Market Cap: C$5.32M
• Dividend Yield: N/A
• Average Volume (3M): 30.19K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.51
• Revenue Growth: N/A
• EPS Growth: 97.05%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Other Precious Metals
• EPS (TTM): N/A
• Shares Outstanding: 118,232,400
• 10 Day Avg. Volume: 14,281
• 30 Day Avg. Volume: 30,191
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.87
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -10.85
• 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: 42 Neutral
• Price Target: C$0.04 ▼(-28.33% Downside)
• Action: Reiterated Date: 03/12/26
• Date: Action: Reiterated 03/12/26

The score is weighed down primarily by weak financial performance (no revenue, ongoing losses, and persistent negative operating/free cash flow) and bearish technicals (price below key moving averages with negative MACD). The debt-free balance sheet provides some risk mitigation, but valuation signals are not supportive due to the company being loss-making and lacking dividend data.

Positive Factors

Debt-free balance sheet

A zero-debt capital structure materially reduces solvency risk for an exploration company that routinely funds programs externally. Without fixed interest burdens, management has greater flexibility to time financings or pursue JV/option deals, preserving runway and strategic optionality over months.

Asset-focused exploration model

Leocor’s core business—acquiring and advancing early-stage gold exploration assets—is a durable value-creation model: success is binary but structural, with clear monetization paths via property sales, joint ventures, or earn-ins that can convert exploration upside into strategic transactions over the medium term.

Material equity cushion

Having an existing equity base provides a tangible asset and funding cushion to support ongoing exploration programs without immediate insolvency risk. Even after drawdowns, the balance-sheet buffer supports near-term project work and gives negotiable equity for potential option/JV structuring.

Negative Factors

Pre-revenue model with recurring losses

The company generates no operating revenue and reports persistent net losses, meaning long-term value depends entirely on discovery or asset transactions. This structural profile requires repeated capital raises, increases dilution risk, and leaves shareholder returns contingent on successful exploration outcomes rather than ongoing cash flows.

Consistent negative operating cash flow

Negative operating and free cash flow across multiple years signals ongoing cash burn from exploration and overhead. Without near-term revenue or a committed JV partner, the company will need external financing to continue programs, creating execution risk and potential project slowdowns if capital access tightens.

Declining equity and negative ROE

Shrinking shareholders' equity and persistent negative returns on that equity reflect cumulative losses and/or dilution. Over the medium term this erodes the company’s financial flexibility, increases the likelihood of further equity raises, and weakens investor alignment absent clear progress toward monetizable exploration milestones.

Leocor Gold Business Overview & Revenue Model

Company Description

Leocor Gold Inc., an exploration stage company, engages in the acquisition and exploration precious metal projects in Canada. It explores for copper, molybdenum, gold, and silver deposits. The company holds an option to acquire 100% interest in the Robert's Arm project, Lemington project, and Hodge's Hill project situated in Newfoundland; and the Dorset gold project, Five Mile Brook project, and Copper Creek project located in Newfoundland and Labrador. It also holds an option to acquire 100% interest in the Star Trek project situated in Gander, Newfoundland. The comany was formerly known as Leocor Ventures Inc. and changed its name to Leocor Gold Inc. in August 2020. Leocor Gold Inc. was incorporated in 2018 and is based in Vancouver, Canada.

How the Company Makes Money

Leocor Gold is an exploration-stage company; specific, recurring operating revenue from product sales or mine production is not publicly indicated in the provided context. As a result, its typical economic model is to (1) raise capital—most commonly through issuing equity (and potentially other financings such as warrants/flow-through shares where applicable)—to fund exploration and corporate overhead, and (2) create shareholder value by advancing exploration assets to the point where they can be monetized through a transaction such as a property sale, option/joint venture with a larger mining company, or a merger/acquisition. Any current revenue streams from mining operations, royalties, or offtake agreements are not available here and are therefore null. Significant partnerships or specific deal terms contributing to earnings: null.

Leocor Gold Financial Statement Overview

Summary

Pre-revenue profile with structurally negative profitability and recurring cash burn. While the balance sheet has no reported debt (a positive), equity has declined materially over time and ROE remains negative, indicating ongoing reliance on external financing until operations scale or a revenue asset is established.

Income Statement

The company reports no revenue across all provided annual periods, which is typical of an early-stage exploration story but results in structurally negative profitability. Losses have been volatile: net income improved sharply from a large loss in 2023 (-8.14M) to a much smaller loss in 2024 (-0.11M), but then deteriorated again in 2025 (-1.77M). EBIT also remains consistently negative (2025: -0.68M), indicating ongoing cost burn without operating scale.

Balance Sheet

The balance sheet is conservatively levered with zero reported debt in every period, which reduces financial risk and provides flexibility. However, equity has trended down meaningfully from 2022 (14.91M) to 2025 (8.06M), consistent with cumulative losses and/or funding dilution. Returns on equity are negative across all years (2025 ROE about -22%), underscoring that the asset base is not yet generating profits.

Cash Flow

Cash generation is weak, with operating cash flow negative every year (2025: -0.65M; 2024: -0.38M), and free cash flow also persistently negative (2025: -0.65M). Free cash flow improved in 2024 versus 2023, but worsened again in 2025 (free cash flow growth about -59%). While free cash flow to net income appears near 1.0 in 2024–2025, that largely reflects both figures being negative (cash burn tracking accounting losses rather than indicating quality earnings).

Breakdown	Oct 2025	Jan 2025	Jan 2024	Jan 2023	Jan 2022
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	0.00	0.00	0.00	0.00
EBITDA	-679.51K	-110.00K	-280.00K	242.58K	-2.45M
Net Income	-1.77M	-110.00K	-8.14M	-507.00K	-2.45M
Balance Sheet
Total Assets	8.52M	9.55M	7.25M	15.44M	15.22M
Cash, Cash Equivalents and Short-Term Investments	4.76M	6.87M	3.81M	5.50M	9.18M
Total Debt	0.00	0.00	0.00	0.00	0.00
Total Liabilities	460.80K	339.60K	215.29K	525.68K	634.93K
Stockholders Equity	8.06M	9.21M	7.04M	14.91M	14.58M
Cash Flow
Free Cash Flow	-648.33K	-383.51K	-1.69M	-3.84M	-3.65M
Operating Cash Flow	-648.33K	-383.51K	-85.19K	-731.76K	-1.92M
Investing Cash Flow	-1.20M	-3.13M	-1.61M	-3.11M	-1.68M
Financing Cash Flow	615.83K	2.25M	0.00	159.70K	10.62M

Leocor Gold Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.06
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:LECR, the sentiment is Negative. The current price of 0.06 is above the 20-day moving average (MA) of 0.06, below the 50-day MA of 0.07, and above the 200-day MA of 0.06, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 26.88 is Positive, neither overbought nor oversold. The STOCH value of <0.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:LECR.

Leocor Gold 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%
GLD	51 Neutral	C$6.88M	-26.07	-40.98%	―	―	79.47%
XGC	49 Neutral	C$53.13M	-10.20	―	―	―	―
MASS	48 Neutral	C$8.49M	-10.26	-187.07%	―	―	-42.86%
MEX	43 Neutral	C$4.56M	-2.76	-604.93%	―	―	18.99%
LECR	42 Neutral	C$5.32M	-3.97	-5.66%	―	―	97.05%