Mirasol Resources (MRZ) AI Stock Analysis

• Market Cap: C$48.73M
• Dividend Yield: N/A
• Average Volume (3M): 76.05K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.37
• Revenue Growth: N/A
• EPS Growth: 1.38%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Other Precious Metals
• EPS (TTM): 0.00
• Shares Outstanding: 88,597,190
• 10 Day Avg. Volume: 37,540
• 30 Day Avg. Volume: 76,050
• PEG Ratio: 0.00
• Price to Book (P/B): -132.55
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -3.41
• 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: 44 Neutral
• Price Target: C$0.53 ▼(-2.91% Downside)
• Action: Reiterated Date: 03/02/26
• Date: Action: Reiterated 03/02/26

The score is held down primarily by weak financial performance (zero/very low revenue, ongoing losses, and heavy cash burn) and increased balance-sheet risk from compressed equity. Technicals are relatively neutral with price modestly above longer-term averages, but momentum is not clearly positive. Valuation is also a headwind due to negative earnings (negative P/E) and no dividend yield data.

Positive Factors

Asset-light JV/option business model

Mirasol’s business model centers on project generation and option/JV deals that transfer exploration funding to partners. This structurally reduces capital intensity and allows value realization through cash option payments or partner-funded drilling, sustaining project advancement without sole-company capex.

Projects in premier mining jurisdictions

Concentrating exploration in Argentina and Chile positions Mirasol in established, resource-rich jurisdictions with active mining infrastructure and strong industry interest. This increases the probability of attracting JV partners and enables more efficient advancement and monetization of targets over the medium term.

Relatively modest absolute debt level (TTM)

While equity has compressed, total debt is limited in absolute dollars (~$1.2M TTM), reducing immediate creditor pressure. That smaller nominal debt burden gives the company some short-term flexibility to secure partner funding or bridge financings while pursuing JV agreements or equity raises.

Negative Factors

Persistent negative cash flow

Sustained negative operating and free cash flow indicates ongoing cash burn tied to exploration activity. Over the 2–6 month horizon this increases reliance on external financing or partner funding, heightens dilution risk from equity raises, and constrains the company's ability to pace or expand programs independently.

Pre-revenue and sustained operating losses

The company remains essentially pre-revenue with sizable operating losses, meaning it cannot self-fund project advancement from operating income. Long-term value creation depends on exploration success and partner deals, making progress binary and sensitive to capital access and drilling outcomes.

Deteriorated equity and higher leverage

A period of negative equity and rising leverage materially weakens the balance sheet cushion and financial flexibility. This structural deterioration can worsen partner/financing terms, raise refinancing risk, and limit the company's ability to absorb exploration setbacks or fund opportunistic work without dilutive capital.

Mirasol Resources Business Overview & Revenue Model

Company Description

Mirasol Resources Ltd. engages in the acquisition and exploration of mineral properties primarily in Chile and Argentina. The company explores for gold, silver, and copper deposits. Its flagship projects include the Sobek Cu project, which covers an area of 11,120 hectares located in northern Chile; and the Inca Gold that covers an area of 16,300 hectares located on the Paleocene belt of Chile. The company was founded in 2003 and is headquartered in Vancouver, Canada.

How the Company Makes Money

Mirasol Resources makes money primarily through its exploration activities by forming joint venture agreements and strategic partnerships with larger mining companies. Instead of directly mining the resources themselves, Mirasol Resources typically partners with other companies that have the resources and capabilities to develop and operate mines. These collaborations often involve Mirasol Resources receiving payments related to exploration milestones, project funding, and potentially future royalties or equity stakes once a project advances to the mining stage. This model allows Mirasol to leverage its exploration expertise while minimizing operational risks and capital expenditures.

Mirasol Resources Financial Statement Overview

Summary

Income statement and cash flow are very weak (TTM revenue at 0, sizable operating losses, and materially negative operating/free cash flow), indicating ongoing funding dependence. Balance-sheet risk has risen as equity has compressed sharply (including a period of negative equity) and leverage has increased, reducing financial flexibility.

Income Statement

The company remains pre-revenue/very low revenue, with TotalRevenue at 0 in the latest TTM (Trailing-Twelve-Months) and recent annual periods (after small revenue in 2022–2023). Profitability is weak: gross profit is negative in the most recent periods and operating losses are sizable (TTM EBIT of about -$8.3M; TTM net loss about -$6.2M). While the TTM net loss is smaller than the FY2025 annual net loss, the overall earnings profile is still heavily loss-making and lacks a visible revenue base, limiting the score.

Balance Sheet

Balance sheet strength has deteriorated meaningfully versus prior years. In the latest TTM (Trailing-Twelve-Months), equity is positive (~$1.8M) but well below historical levels, and leverage has risen (debt-to-equity ~0.64). The FY2025 annual snapshot shows negative equity, which is a key red flag and helps explain the extreme/unstable leverage and return measures in that period. Positively, total debt in the TTM period (~$1.2M) is not massive in absolute terms, but the reduced equity cushion increases financial risk.

Cash Flow

Cash generation is weak, with consistently negative operating cash flow and free cash flow across all shown periods. TTM (Trailing-Twelve-Months) operating cash flow is about -$6.8M and free cash flow about -$6.9M, and free cash flow growth is also negative in the TTM period, pointing to increasing cash burn. Cash outflows broadly track reported losses (free cash flow roughly in line with net income), which suggests limited non-cash support and reinforces funding/financing dependence.

Breakdown	TTM	Sep 2025	Sep 2024	Sep 2023	Sep 2022	Sep 2021
Income Statement
Total Revenue	0.00	0.00	0.00	15.98K	496.70K	912.92K
Gross Profit	-60.45K	-54.12K	-64.50K	-53.07K	399.94K	806.68K
EBITDA	-8.29M	-9.85M	-8.84M	-9.70M	-4.95M	-5.21M
Net Income	-6.22M	-9.95M	-8.92M	-9.80M	-5.08M	-5.96M
Balance Sheet
Total Assets	3.83M	3.35M	4.31M	10.19M	8.47M	13.48M
Cash, Cash Equivalents and Short-Term Investments	2.34M	1.68M	2.44M	8.28M	6.42M	11.20M
Total Debt	1.16M	2.80M	74.00K	140.81K	197.19K	244.67K
Total Liabilities	2.01M	3.57M	622.60K	885.35K	672.43K	1.14M
Stockholders Equity	1.82M	-220.51K	3.69M	9.31M	7.80M	12.33M
Cash Flow
Free Cash Flow	-6.86M	-8.57M	-8.39M	-8.67M	-5.09M	-5.38M
Operating Cash Flow	-6.79M	-8.57M	-8.31M	-8.58M	-5.05M	-5.23M
Investing Cash Flow	2.08M	-66.34K	322.13K	514.63K	479.38K	7.33M
Financing Cash Flow	3.94M	7.92M	2.26M	10.31M	-92.74K	-201.41K

Mirasol Resources Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.55
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MRZ, the sentiment is Positive. The current price of 0.55 is above the 20-day moving average (MA) of 0.54, below the 50-day MA of 0.57, and above the 200-day MA of 0.45, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 51.06 is Neutral, neither overbought nor oversold. The STOCH value of 53.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:MRZ.

Mirasol Resources 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%
CAM	53 Neutral	C$43.01M	-5.51	-53.48%	―	―	―
WEX	52 Neutral	C$37.33M	-5.16	-51.11%	―	―	―
GBU	49 Neutral	C$38.81M	-2.02	―	―	―	70.07%
MRZ	44 Neutral	C$48.73M	-1,187.78	-1239.88%	―	―	1.38%
DMET	44 Neutral	C$36.29M	-1.02	-53.21%	―	―	49.31%
CN	42 Neutral	C$26.31M	-13.90	-57.87%	―	―	-581.25%

Mirasol Resources Corporate Events

Mirasol Sells Mendoza Copper Portfolio to Argentina Metals for Cash and Shares

Mirasol Resources has signed an asset purchase agreement to sell a portfolio of 14 grassroots copper porphyry exploration projects in Mendoza, Argentina, totaling 89,070 hectares, to Mises Metals S.A.S., a wholly owned subsidiary of Argentina Metals Corp. The consideration comprises US$50,000 in cash and 1.3 million Argentina Metals shares issued in three tranches, with a clause that returns the properties to Mirasol, along with half the cash, if Argentina Metals fails to list on a Canadian exchange within a year. The transaction allows Mirasol to monetize and offload non-core Argentine copper assets while retaining upside exposure through an equity stake in Argentina Metals, thereby sharpening its focus on core projects such as the Sobek copper-gold project in Chile and streamlining its regional project portfolio.

The most recent analyst rating on (TSE:MRZ) stock is a Hold with a C$0.84 price target. To see the full list of analyst forecasts on Mirasol Resources stock, see the TSE:MRZ Stock Forecast page.

Mirasol Begins Drilling High-Priority 46 South Target at Sobek in Chile’s Vicuña District

Mirasol Resources has commenced drilling at its 100%-owned Sobek copper-gold-silver project in Chile’s Vicuña District, targeting the 46 South zone located about 7 km west of the Filo del Sol deposit along a 3-km north–south corridor of alteration and mineralization. The drilling program is based on results from a recently completed Deep Vectoring IP and MT geophysical survey, which, together with prior IP, soil geochemistry and airborne magnetic data, has outlined a shallow high-sulphidation epithermal target starting around 200 metres below surface and potentially linked to a deeper intrusive or porphyry system; this maiden 1,000-metre drill hole aims to test the coincident resistive–chargeable architecture, key structural intersections and a strong underlying magnetic anomaly, underscoring Sobek’s potential to host a significant new mineralized system in a district already anchored by major discoveries.

The most recent analyst rating on (TSE:MRZ) stock is a Hold with a C$0.56 price target. To see the full list of analyst forecasts on Mirasol Resources stock, see the TSE:MRZ Stock Forecast page.

Mirasol Resources Closes $3 Million Private Placement to Boost Exploration

Mirasol Resources Ltd has successfully closed a non-brokered private placement financing, raising approximately $3 million through the issuance of 6,689,445 units at $0.45 per unit. The proceeds will be used to advance exploration programs and for general corporate purposes. The financing included participation from two directors and one officer, constituting a related party transaction, which was exempt from certain regulatory requirements. This move strengthens Mirasol’s financial position, enabling continued exploration efforts and potentially enhancing its market position in the mineral exploration industry.

Mirasol Resources Sells Sascha-Marcelina Projects to Pursuit Minerals

Mirasol Resources has completed the sale of its Sascha-Marcelina Projects in Argentina to Pursuit Minerals for approximately US$1.5 million, retaining a 1.5% NSR royalty. This transaction aligns with Mirasol’s strategy to monetize non-core assets, strengthening its financial position and allowing it to focus on its exploration programs. The proceeds from the sale were used to repay CAD$2M towards an outstanding shareholder loan, reflecting the company’s commitment to financial prudence.

Mirasol Resources Appoints New CFO to Drive Exploration Initiatives

Mirasol Resources Ltd announced the retirement of Carmen Cazares as Chief Financial Officer, with Francisco Del Castillo taking over the role effective December 1, 2025. Del Castillo brings over 20 years of experience in financial management and public company reporting, particularly in the Latin American resource sector, which is expected to be instrumental in advancing Mirasol’s exploration projects in Chile and Argentina.