Northcliff Resources (NCF) AI Stock Analysis

• Market Cap: C$166.36M
• Dividend Yield: N/A
• Average Volume (3M): 754.26K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.89
• Revenue Growth: N/A
• EPS Growth: 34.09%
• Country: CA
• Employees: 3
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): 0.00
• Shares Outstanding: 627,758,670
• 10 Day Avg. Volume: 330,970
• 30 Day Avg. Volume: 754,264
• PEG Ratio: 2.24
• Price to Book (P/B): 4.62
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -22.38
• 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: 50 Neutral
• Price Target: C$0.27 ▼(-22.06% Downside)

The score is held back primarily by the lack of revenue, ongoing losses, and continued cash burn despite a relatively low-leverage balance sheet. Technicals provide some support with the stock trading above major moving averages and RSI indicating moderate strength, but valuation remains weak due to negative earnings and no dividend.

Positive Factors

Low leverage and solid equity base

A very low debt-to-equity ratio and a meaningful equity cushion reduce refinancing and solvency risk while the company advances a capital-intensive mine project. This balance sheet strength provides durable financial flexibility for permitting and staged development decisions.

Focused strategic project exposure

Concentrated development of the Sisson tungsten-molybdenum project gives clear strategic direction and asset-level optionality. Exposure to critical industrial metals supports long-term demand potential and makes project milestones the primary durable value drivers for investors.

Improving loss trend

A materially smaller net loss year-over-year signals progressing cost control or reduced project spend intensity, extending runway. Sustained improvement in operating deficits is a durable indicator management can compress burn while advancing permitting and development milestones.

Negative Factors

No revenue across multi-year period

The absence of operating revenue over multiple years means the firm remains pre-revenue and must convert the Sisson project to production to realize cash flows. This structural reliance on project execution and external financing elevates long-term delivery and market risk.

Persistent negative operating and free cash flow

Ongoing cash burn and consecutive negative OCF/FCF create a durable financing overhang. Continued outflows during development require equity or debt raises, which can dilute returns, delay project timelines, and increase execution risk if capital markets tighten.

Negative returns and weak asset productivity

A negative ROE over the most recent period indicates the company is not generating returns from its equity base. Persistently negative returns signal structural challenges in converting exploration and development investment into profitable operations over the medium term.

Northcliff Resources Business Overview & Revenue Model

Company Description

Northcliff Resources Ltd., together with its subsidiaries, engages in the acquisition, exploration, and development of mineral projects in Canada. Its primary mineral project is the Sisson Tungsten-Molybdenum project covering an area of 18,880 hectares located in New Brunswick, Canada. The company was formerly known as Cabre Capital Corp. and changed its name to Northcliff Resources Ltd. in June 2011. Northcliff Resources Ltd. was incorporated in 2010 and is headquartered in Vancouver, Canada.

How the Company Makes Money

Northcliff Resources primarily makes money through the development and potential sale of mineral resources from its flagship Sisson Project. The company's revenue model is based on the exploration and development of tungsten and molybdenum deposits, which, upon successful extraction, can be sold to industrial consumers and manufacturers. Key revenue streams include the sale of these extracted metals, partnerships with other mining companies, and potential joint ventures or licensing agreements to share the operational and financial burden of large-scale mining operations. The company's ability to generate earnings is closely tied to the global demand for tungsten and molybdenum, commodity prices, and successful project development milestones.

Northcliff Resources Financial Statement Overview

Summary

Northcliff Resources faces significant financial challenges with zero revenue generation, leading to persistent losses and negative cash flows. While the balance sheet shows low leverage, ongoing net losses and cash flow issues present substantial financial risks.

Income Statement

Northcliff Resources has consistently reported zero revenue, leading to negative gross profit, EBIT, and net income figures. The lack of revenue growth and persistent losses indicate significant challenges in generating income, affecting profitability and overall financial performance.

Balance Sheet

The company maintains a reasonable equity ratio, with stockholders' equity representing a significant portion of total assets. The absence of total debt in the latest TTM period suggests minimal leverage risk. However, the ongoing net losses and steady decline in cash reserves are concerning for long-term financial stability.

Cash Flow

Operating cash flow remains negative, indicating ongoing cash burn. Although free cash flow has shown some improvement, it remains negative, signaling inefficient cash management and a dependency on external financing to meet cash needs.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	-974.05K	-437.73K	-214.00	-658.00
EBITDA	-1.33M	-2.21M	-2.27M	-1.68M	-1.19M
Net Income	-1.34M	-2.10M	-2.65M	-1.88M	-1.27M
Balance Sheet
Total Assets	34.21M	30.53M	31.03M	32.43M	28.34M
Cash, Cash Equivalents and Short-Term Investments	1.62M	1.34M	2.13M	4.93M	1.44M
Total Debt	3.55M	0.00	1.32M	4.45M	1.34M
Total Liabilities	5.23M	1.64M	2.40M	6.57M	2.54M
Stockholders Equity	25.23M	25.06M	24.66M	22.32M	22.65M
Cash Flow
Free Cash Flow	-5.21M	-1.11M	-4.65M	-1.28M	-994.10K
Operating Cash Flow	-2.99M	-1.11M	-3.78M	-727.53K	-676.45K
Investing Cash Flow	-1.38M	-698.92K	-686.49K	-528.37K	-306.90K
Financing Cash Flow	4.66M	1.02M	1.67M	4.75M	831.97K

Northcliff Resources Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.34
• 50DMA: Negative
• 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:NCF, the sentiment is Neutral. The current price of 0.34 is above the 20-day moving average (MA) of 0.28, above the 50-day MA of 0.29, and above the 200-day MA of 0.16, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 44.36 is Neutral, neither overbought nor oversold. The STOCH value of 21.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:NCF.

Northcliff 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%
FPC	52 Neutral	C$148.41M	-62.32	-4.06%	―	―	54.00%
NCF	50 Neutral	C$166.36M	-120.45	-6.95%	―	―	34.09%
BCM	49 Neutral	C$205.61M	-1.48	-525.71%	―	-4.16%	-66.82%
CCCM	48 Neutral	C$125.85M	-36.42	-4.33%	―	―	10.13%
PWM	47 Neutral	C$133.49M	-85.56	-7.68%	―	―	―
FL	45 Neutral	C$242.10M	-17.62	-144.30%	―	―	34.36%

Northcliff Resources Corporate Events

Northcliff Resources Secures Extension and New Leadership for Sisson Project

Northcliff Resources Ltd. has received a five-year extension from the New Brunswick government for the construction commencement of the Sisson Tungsten-Molybdenum Project, allowing the company to complete necessary economic and technical evaluations. Additionally, Peter C. Mitchell has been appointed as the new Chairman of the Board, bringing extensive financial management experience to guide the project towards construction and production. The company has secured significant funding from the US Department of Defense and Natural Resources Canada to support the project’s development, highlighting its strategic importance in the critical minerals supply chain.

Northcliff’s Sisson Project Gains Nation-Building Status

Northcliff Resources Ltd. announced that its Sisson Tungsten-Molybdenum Project has been added to Canada’s nation-building projects list, receiving support from the Major Projects Office. This inclusion provides financial and regulatory assistance, advancing the project towards a construction decision. The Sisson Project, located in New Brunswick, is a significant deposit of tungsten and molybdenum, both critical minerals identified by the Canadian government. Northcliff has secured funding from both the US Department of Defense and Natural Resources Canada to support feasibility studies and engineering updates, aiming to enhance the critical minerals supply chain and support digital technology, clean energy, and aerospace applications.