Morien Resources (MOX) AI Stock Analysis

• Market Cap: C$9.75M
• Dividend Yield: N/A
• Average Volume (3M): 34.46K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.52
• Revenue Growth: -79.75%
• EPS Growth: 33.53%
• Country: CA
• Employees: 6
• Sector: Energy
• Sector Strength: 52
• Industry: Coal
• EPS (TTM): >-0.01
• Shares Outstanding: 51,292,000
• 10 Day Avg. Volume: 38,400
• 30 Day Avg. Volume: 34,463
• PEG Ratio: -0.20
• Price to Book (P/B): 45.03
• Price to Sales (P/S): 146.34
• P/FCF Ratio: -24.72
• 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: 47 Neutral
• Price Target: C$0.19 ▼(-15.00% Downside)

The score is primarily held down by weak financial performance (sharp TTM revenue decline, widening losses, cash burn, and negative equity). Technicals are only neutral with a weak longer-term trend, and valuation is constrained by losses (negative P/E) with no dividend support. Offsetting this, recent financings and project progress improve operational runway and near-term stability, but do not yet resolve profitability and balance-sheet concerns.

Positive Factors

Strong Equity Position

A strong equity position with zero debt provides financial stability and flexibility, allowing the company to weather financial challenges and invest in growth opportunities without the burden of interest expenses.

Government Support

Supportive government policies can expedite project approvals and foster growth in the resource sector, potentially enhancing the company's ability to develop its assets and increase revenue streams.

Strategic Partnerships

Strategic partnerships allow Morien to leverage expertise and resources from operating partners, optimizing its investment portfolio and expanding its asset base without incurring significant operational costs.

Negative Factors

Declining Revenues

Consistently declining revenues indicate challenges in maintaining market share and demand for the company's products, which could hinder long-term growth and profitability.

Negative Cash Flows

Negative cash flows from operations highlight operational inefficiencies and liquidity concerns, limiting the company's ability to invest in growth initiatives and meet financial obligations.

Operational Inefficiencies

Negative EBIT and EBITDA margins reflect operational inefficiencies, suggesting the company struggles to generate sufficient income from its core operations, impacting long-term financial health.

Morien Resources Business Overview & Revenue Model

Company Description

Morien Resources Corp., a mining development company, engages in the identification and purchase of mineral projects in Canada. The company holds royalty interests in the Donkin coal mine located in Cape Breton, Nova Scotia; and the Black Point aggregate project, a granite deposit located in Guysborough County, Nova Scotia. Morien Resources Corp. is headquartered in Halifax, Canada.

How the Company Makes Money

Morien Resources generates revenue through royalty interests and the development of its mineral properties. The company's key revenue streams include royalties from the production of its coal assets, notably the Donkin Coal Project in Nova Scotia. Morien earns a production royalty from this project, which provides a percentage of the revenue generated from coal sales. Additionally, the company benefits from strategic partnerships and agreements with operating partners who manage the day-to-day mining operations, allowing Morien to focus on optimizing its investment portfolio and expanding its asset base.

Morien Resources Financial Statement Overview

Summary

Financials are weak: revenue is highly volatile and fell ~50% YoY in TTM, losses widened (TTM net margin about -25.6%), and operating/free cash flow are negative. While the company has no debt, equity has turned negative in TTM, which is a major balance-sheet risk.

Income Statement

Revenue is highly volatile and has materially contracted in TTM (Trailing-Twelve-Months) (down ~50% year-over-year), following an outsized 2023 revenue base. Profitability remains weak: the company is consistently loss-making across the period, and TTM (Trailing-Twelve-Months) margins deteriorated sharply (net margin roughly -25.6% vs. about -7.4% in 2024). A positive is that gross profit equals revenue (100% gross margin), but operating costs more than offset this benefit, driving persistent operating and net losses.

Balance Sheet

The company carries no debt (debt-to-equity shown as 0.0), which reduces financial risk and refinancing pressure. However, equity has weakened significantly and turned negative in TTM (Trailing-Twelve-Months) (from positive equity in 2024), which is a key balance-sheet red flag and suggests accumulated losses have eroded the capital base. Returns on equity are negative and worsened materially in TTM (Trailing-Twelve-Months), reflecting continued unprofitability and diminished shareholder cushion.

Cash Flow

Cash generation is inconsistent and currently negative: operating cash flow and free cash flow are both negative in TTM (Trailing-Twelve-Months), following a positive year in 2023. While free cash flow improved versus the prior period on a growth basis (reported positive growth), the business is still consuming cash overall, which heightens funding dependence if losses persist. A relative positive is that free cash flow is not materially worse than net income in TTM (Trailing-Twelve-Months), but both remain negative, limiting financial flexibility.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	22.67K	82.37K	962.28K	173.25K	60.78K	249.24K
Gross Profit	22.67K	82.37K	962.28K	173.25K	60.78K	249.24K
EBITDA	-843.50K	-878.29K	-375.82K	0.00	0.00	0.00
Net Income	-581.31K	-613.20K	-307.69K	-545.12K	-364.87K	-560.83K
Balance Sheet
Total Assets	1.20M	1.21M	1.47M	1.48M	2.36M	2.72M
Cash, Cash Equivalents and Short-Term Investments	695.40K	1.07M	1.38M	1.26M	2.32M	2.65M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	1.41M	946.72K	815.07K	697.20K	566.36K	452.63K
Stockholders Equity	-208.54K	267.70K	651.25K	787.25K	1.79M	2.27M
Cash Flow
Free Cash Flow	-718.45K	-487.64K	391.06K	-694.25K	-396.44K	-35.45K
Operating Cash Flow	-620.27K	-487.64K	391.06K	-694.25K	-396.44K	-35.45K
Investing Cash Flow	377.30K	590.93K	20.29K	132.84K	157.00	-867.66K
Financing Cash Flow	102.62K	0.00	-313.85K	-456.38K	-118.58K	-563.17K

Morien Resources Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.22
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MOX, the sentiment is Negative. The current price of 0.22 is above the 20-day moving average (MA) of 0.21, above the 50-day MA of 0.22, and below the 200-day MA of 0.27, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 39.89 is Neutral, neither overbought nor oversold. The STOCH value of 26.19 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:MOX.

Morien Resources Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
CAD	51 Neutral	C$581.24M	-266.67	-9.97%	―	―	76.49%
ENDR	50 Neutral	C$15.10M	-5.49	-3.35%	―	―	-14.51%
MOX	47 Neutral	C$9.75M	-17.26	-1509.04%	―	-79.75%	33.53%

Morien Resources Corporate Events

Morien Resources Completes $1.6M LIFE Financing to Drive Future Projects

Morien Resources has concluded a $1.6 million non-brokered LIFE Financing, issuing over 8.8 million common shares at $0.18 per share. The raised funds, combined with existing cash, are expected to sustain operations for four to five years while advancing critical projects such as the Donkin Mine restart advocacy, aggregate opportunities in Nova Scotia and Newfoundland, and engagement on the Black Point Quarry Project. This financing strengthens Morien’s financial position and supports its diversified portfolio of royalty-based mining and aggregate operations, potentially creating long-term value for stakeholders.

Morien Resources Upsizes LIFE Financing Amid Strong Investor Demand

Morien Resources has announced an increase in its non-brokered LIFE financing due to strong investor demand, aiming to raise up to $1.6 million through the issuance of common shares. The proceeds will support ongoing operations, including the Donkin Mine restart and development projects like the Lazy Head Aggregate Project and a Newfoundland aggregate opportunity, ensuring financial stability for four to five years.

Morien Resources Announces $1 Million Private Placement to Support Strategic Projects

Morien Resources Corp. has announced a non-brokered private placement to raise up to $1,000,000 through the issuance of common shares at $0.18 each. The proceeds are intended to support ongoing operations, including efforts to restart the Donkin Mine and advance the Lazy Head Aggregate Project. The financing is expected to provide sufficient resources for up to four years, allowing Morien to focus on its strategic projects and partnerships, including those with Carver Companies and Vulcan Materials Company.

Morien Resources Launches Maiden Drill Program at Lazy Head Project

Morien Resources has initiated its maiden drill program at the Lazy Head Aggregate Project in Nova Scotia, marking a significant step in transforming the site into a major aggregate development. This project, in partnership with Carver Companies, aims to serve high-growth infrastructure markets along the U.S. East Coast, creating local jobs and economic benefits. The program will assess the granite resource’s quality and volume, with results influencing quarry design and environmental studies. The partnership ensures Morien receives milestone payments and royalties, while Carver covers all project-related expenses.