Minaurum Gold (MGG) AI Stock Analysis

• Market Cap: C$265.75M
• Dividend Yield: N/A
• Average Volume (3M): 659.79K
• Price to Earnings (P/E): ―
• Beta (1Y): 3.85
• Revenue Growth: N/A
• EPS Growth: -70.87%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): -0.01
• Shares Outstanding: 509,273,400
• 10 Day Avg. Volume: 672,236
• 30 Day Avg. Volume: 659,788
• PEG Ratio: -0.24
• Price to Book (P/B): 8.11
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -13.57
• 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: 51 Neutral
• Price Target: C$0.47 ▼(-15.71% Downside)

The score is primarily constrained by weak financial performance (no revenue, persistent losses, and ongoing free-cash-flow deficits), implying financing/dilution risk despite a no-debt balance sheet. Technicals are notably stronger with an uptrend across major moving averages and positive MACD, but valuation remains pressured by negative earnings and no dividend support.

Positive Factors

Conservative balance sheet (no debt)

A no-debt capital structure materially reduces near-term solvency and refinancing risk for an exploration company. This durable strength preserves optionality to time equity raises or pursue JV/earn-in deals, supporting continued project advancement without immediate leverage constraints.

Focused exploration footprint in Mexico

Concentrated operations in a prolific mining jurisdiction create persistent geological optionality and operational synergies. A clear regional focus can streamline permitting, logistics, and partner interest, improving the long-term odds of resource discovery and commercial transactions.

Structured pathway to resource definition and monetization

A methodical technical program (mapping, sampling, geophysics, drilling) progressively de-risks targets and creates enduring value inflection points. Defined resources or robust drill results improve prospects for joint ventures, asset sales, or development partnerships over the medium term.

Negative Factors

No revenue and persistent operating losses

Absent operating revenue and with sizable net losses, the company lacks internal earnings to fund exploration or development. This structural profitability gap forces ongoing external funding needs, increasing dilution risk and limiting sustainable project advancement without capital markets access.

Recurring negative cash generation

Consistent negative operating and free cash flow indicates enduring cash consumption typical of exploration, but at levels that require repeated financing. Persistent cash burn constrains multi-year programs, risks pausing critical work if markets tighten, and increases dependency on dilutive or costly capital.

Declining equity and very weak capital efficiency

Material equity erosion and deeply negative returns on equity signal poor capital efficiency and investor dilution over time. This weakens the company’s funding buffer, reduces internal financing capacity, and can impair the ability to attract partners or favorable financing terms for long-term project advancement.

Minaurum Gold Business Overview & Revenue Model

Company Description

Minaurum Gold Inc., an exploration stage company, engages in the acquisition, evaluation, and exploration of mineral properties in Mexico. The company explores for gold, silver, copper, lead, and zinc deposits. Its flagship project is the Alamos project, which has 16 mining claims covering an area of 37,928.5 hectares in Southern Sonora. The company was formerly known as Chava Resources Ltd. and changed its name to Minaurum Gold Inc. in November 2009. Minaurum Gold Inc. was incorporated in 2007 and is headquartered in Vancouver, Canada.

How the Company Makes Money

Minaurum Gold makes money primarily through the exploration and sale of mineral properties. The company generates revenue by discovering new gold and silver deposits and increasing the value of these properties through successful exploration activities. Once a property is sufficiently developed and proven to have significant mineral resources, Minaurum can choose to sell the property to a larger mining company or enter into joint venture agreements, earning revenue through the sale or shared profits. Additionally, Minaurum may raise capital through equity financing, allowing it to fund ongoing exploration projects and maintain its operations. Strategic partnerships and collaborations with other mining entities or investors can also contribute to the company's earnings by providing additional resources and expertise to enhance exploration success.

Minaurum Gold Financial Statement Overview

Summary

Income statement and cash flow are weak due to no revenue, persistent losses (TTM net loss ~9.1M), and ongoing cash burn (TTM FCF ~-6.8M), implying continued reliance on external funding. This is partially offset by a no-debt balance sheet that reduces near-term solvency risk, though equity has declined materially (FY2022 ~15.9M to FY2025 ~7.1M).

Income Statement

The company continues to report no revenue across both annual periods and TTM (Trailing-Twelve-Months), which keeps profitability structurally weak. Losses are persistent and sizable (TTM net loss of ~9.1M vs. ~5.7M in FY2025), indicating deteriorating earnings power rather than improvement. With negative operating results (TTM EBIT of ~-7.7M), the income statement offers limited evidence of a near-term path to self-funding operations.

Balance Sheet

The balance sheet is conservatively levered with no reported debt, which materially reduces financial risk and refinancing pressure. However, equity has been volatile and declined materially from FY2022 (~15.9M) to FY2025 (~7.1M), reflecting ongoing losses and/or dilution effects. Returns on equity are deeply negative (TTM roughly -88%), signaling weak capital efficiency despite the low leverage profile.

Cash Flow

Cash generation remains negative, with TTM (Trailing-Twelve-Months) operating cash flow of ~-6.9M and free cash flow of ~-6.8M, consistent with a cash-consuming exploration-stage profile. While TTM free cash flow growth is shown as strongly positive, the absolute level of cash burn is still substantial and recurring. Cash flow also does not cover the reported net loss in an economically favorable way (free cash flow remains negative), reinforcing dependence on external funding over time.

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	0.00	0.00	0.00	0.00	0.00	0.00
EBITDA	-7.63M	-4.56M	-1.82M	-7.69M	-6.58M	-6.92M
Net Income	-9.09M	-5.72M	-3.73M	-7.69M	-6.58M	-7.52M
Balance Sheet
Total Assets	11.86M	7.66M	8.28M	10.55M	16.70M	11.98M
Cash, Cash Equivalents and Short-Term Investments	4.11M	1.21M	739.41K	1.90M	8.76M	4.10M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	1.43M	570.15K	688.01K	362.26K	826.31K	509.73K
Stockholders Equity	10.43M	7.09M	7.59M	10.19M	15.87M	11.47M
Cash Flow
Free Cash Flow	-6.77M	-4.24M	-1.57M	-4.95M	-6.11M	-6.88M
Operating Cash Flow	-6.92M	-4.24M	-1.57M	-4.15M	-6.11M	-6.88M
Investing Cash Flow	-211.39K	-400.95K	-96.53K	-662.16K	-157.91K	-236.22K
Financing Cash Flow	8.70M	5.17M	782.18K	0.00	8.49M	8.77M

Minaurum Gold Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.56
• 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:MGG, the sentiment is Positive. The current price of 0.56 is above the 20-day moving average (MA) of 0.53, above the 50-day MA of 0.45, and above the 200-day MA of 0.32, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 52.59 is Neutral, neither overbought nor oversold. The STOCH value of 26.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:MGG.

Minaurum Gold Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MJS	71 Outperform	C$192.89M	17.12	7.20%	8.87%	28.21%	-9.76%
GG	67 Neutral	C$258.47M	25.49	14.01%	―	145.27%	―
XTG	64 Neutral	C$158.61M	36.81	23.36%	―	―	379.90%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
AU	58 Neutral	C$264.53M	-43.01	-7.79%	―	―	-105.98%
MGG	51 Neutral	C$265.75M	-23.96	-89.19%	―	―	-70.87%
NCAU	49 Neutral	C$194.98M	-44.85	-5.92%	―	―	-7.14%

Minaurum Gold Corporate Events

Minaurum Silver Unveils 55 Million Ounce Inferred Resource at Alamos Project

Minaurum Silver has delivered an initial inferred mineral resource estimate for its 100%-owned Alamos Silver Project in Sonora, Mexico, outlining 5.37 million tonnes grading 320 g/t silver equivalent for a contained 55.2 million ounces silver equivalent, including silver, gold, copper, lead and zinc. The estimate, prepared by Independent Mining Consultants Inc. from 104 drill holes, covers only portions of three of the project’s 26 identified vein zones—Promontorio, Travesia and Europa—and remains open along strike and at depth, underscoring significant expansion potential as the company advances a 50,000-metre Phase II resource expansion drilling program; conservative pricing, cost and metallurgical assumptions highlight the robustness and high-grade nature of the mineralization, reinforcing Alamos’s positioning as an emerging high-grade silver district and a potential value driver for Minaurum and its stakeholders.

The most recent analyst rating on (TSE:MGG) stock is a Hold with a C$0.62 price target. To see the full list of analyst forecasts on Minaurum Gold stock, see the TSE:MGG Stock Forecast page.

Minaurum Rebrands as Minaurum Silver to Highlight Focus on Flagship Alamos Project

Minaurum Gold Inc. has rebranded as Minaurum Silver Inc., a move that reflects its strategic shift to a silver-focused identity and its commitment to advancing the flagship Alamos Silver Project in Sonora, Mexico. The name change, approved by the board in November, will take effect on the TSX Venture Exchange on December 22, 2025, with new CUSIP and ISIN numbers assigned but no action required from shareholders, and the existing stock symbols on the TSXV and OTCQX remaining unchanged. By highlighting the silver-centric expertise of its leadership team—bolstered by the addition of SilverCrest Metals’ resource modeling specialists—the company is signaling a more defined positioning within the silver exploration space, aiming to accelerate project development and support future growth and value creation for investors.

Minaurum Gold Secures C$25M in Private Placement to Fund Alamos Project

Minaurum Gold Inc. has successfully closed a brokered private placement, raising C$25 million through the sale of 69,444,442 units, including the full exercise of the agents’ option. The proceeds will be used for exploration and a phase II drill program at the Alamos silver project, as well as for general working capital. The placement was led by Cormark Securities Inc., with participation from other agents, and involved both Canadian and international investors. The transaction includes common shares and warrants, with certain securities subject to a statutory hold period.

Minaurum Gold Expands Alamos Silver Project Drilling Program

Minaurum Gold Inc. has announced the expansion of its Phase II resource-expansion drill program at the Alamos Silver Project in Sonora, Mexico, doubling the planned drilling from 25,000 meters to 50,000 meters. This expansion, driven by strong institutional interest, aims to test more vein-zone targets and grow the mineralized footprint, supporting a major resource update planned for 2026. The success of this program is contingent on the closing of ongoing financing, and the company has also issued stock options to its directors, officers, and consultants.

Minaurum Gold Inc. Announces C$10 Million Private Placement to Boost Exploration

Minaurum Gold Inc. has announced a C$10 million best efforts private placement agreement with Cormark Securities Inc. The proceeds from this offering will be used for exploration expenditures, a phase II drill program on the Alamos silver project, and general working capital, potentially enhancing the company’s operational capabilities and market position.

Minaurum Gold Advances Alamos Silver Project with Phase II Expansion Drilling

Minaurum Gold Inc. has completed its Phase I infill drilling program and is launching a Phase II 25,000-meter resource expansion drill program at its Alamos Silver Project in Sonora, Mexico. This initiative aims to expand existing targets and explore additional zones, with the goal of a major resource update in 2026. The company has identified 26 vein zones, with high-grade silver intercepts in several areas, indicating significant mineralization potential. The expansion is expected to enhance Minaurum’s resource estimate and strengthen its position in the mining sector.