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Nine Mile Metals Ltd
(NINE)
Nine Mile Metals Ltd (NINE) vs. iShares MSCI Canada ETF (EWC)
Nine Mile Metals Ltd Business Overview & Revenue Model
Nine Mile Metals Ltd Financial Statement Overview
| Breakdown | Sep 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 | -6.53K | -3.92K | 0.00 | 0.00 | 0.00 |
| EBITDA | -856.41K | -2.12M | -410.00K | 3.60M | -1.14M |
| Net Income | -883.45K | -2.17M | -2.70M | -1.72M | -6.27M |
Balance Sheet | |||||
| Total Assets | 4.83M | 5.10M | 4.95M | 5.25M | 982.40K |
| Cash, Cash Equivalents and Short-Term Investments | 44.14K | 387.47K | 446.00K | 1.07M | 947.36K |
| Total Debt | 0.00 | 220.85K | 0.00 | 0.00 | 50.37K |
| Total Liabilities | 503.16K | 622.11K | 170.48K | 22.00K | 75.69K |
| Stockholders Equity | 4.32M | 4.48M | 4.78M | 5.23M | 906.71K |
Cash Flow | |||||
| Free Cash Flow | -730.69K | -1.89M | -2.37M | -1.42M | -1.08M |
| Operating Cash Flow | -730.69K | -1.84M | -2.29M | -1.33M | -1.07M |
| Investing Cash Flow | -9.00K | -50.00K | -80.00K | -85.00K | 11.20K |
| Financing Cash Flow | 396.36K | 1.83M | 1.74M | 1.54M | 1.75M |
Nine Mile Metals Ltd Technical Analysis
Nine Mile Metals Ltd Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
49 Neutral | C$16.78M | -14.08 | -88.09% | ― | ― | 21.15% | |
48 Neutral | C$19.86M | -12.60 | -5.89% | ― | ― | 56.30% | |
48 Neutral | C$16.76M | -120.12 | 13.19% | ― | ― | ― | |
45 Neutral | C$16.29M | -1.61 | ― | ― | ― | 79.88% | |
43 Neutral | C$12.05M | -24.57 | -26.39% | ― | ― | 54.76% |
Nine Mile Metals Ltd Corporate Events
Nine Mile Metals has reported certified assay results from drill hole WD-25-01 at its Wedge Mine in the Bathurst Mining Camp, confirming a 22.65-meter interval grading 3.83% copper equivalent and a 17.65-meter sub-interval at 4.33% copper equivalent, with notable gold and silver grades. The hole revealed a unique, multi-element VMS lens enriched in precious metals and epithermal elements, distinct from adjacent drill intersections, underscoring the dynamic nature of the Wedge deposit and suggesting potential for additional high-grade, polymetallic zones that could enhance the project’s resource profile.
The drill hole also showed strong lead and zinc mineralization, with sample intervals reaching up to 13.90% lead and 19.30% zinc and localized copper-dominant zones at the base of the VMS section. Elevated cobalt and bismuth associated with higher copper values further highlight the complex metal zonation, providing valuable geological insights that may influence future drilling strategies and the overall exploration upside for stakeholders.
The most recent analyst rating on (TSE:NINE) stock is a Sell with a C$0.08 price target. To see the full list of analyst forecasts on Nine Mile Metals Ltd stock, see the TSE:NINE Stock Forecast page.
Nine Mile Metals has maintained its option to acquire 100% of the Wedge Project by making its third anniversary payment, consisting of a $40,000 cash payment and the issuance of 300,000 common shares to Slam Exploration. One final payment milestone in 2027 remains before Nine Mile secures full ownership, underscoring the strategic importance of the 35.83 km² Wedge VMS Project, which hosts multiple high-priority targets along an 8 km exploration trend.
The company recently completed its Fall 2025 Phase 2 drill program at the Wedge Mine, with results to date suggesting the deposit is larger and higher grade than previously defined, including extensions to the east, at depth, and to the southwest. Nine Mile plans a Phase 3 drill program at the Wedge Mine, alongside a 2026 drill campaign at the West Wedge and Tribag zones, and has engaged Generation IACP Inc. to provide market making and analytical trading services to support share liquidity and investor visibility.
The most recent analyst rating on (TSE:NINE) stock is a Hold with a C$0.08 price target. To see the full list of analyst forecasts on Nine Mile Metals Ltd stock, see the TSE:NINE Stock Forecast page.
Nine Mile Metals has begun Phase 1 bulk sample metallurgical work on its Nine Mile Brook high-grade lens, averaging 13.71% CuEq over 15.10 metres, in collaboration with SGS Canada and Glencore Canada. Two one-tonne representative samples and an entire high-grade copper drill core interval will be shipped to SGS for preparation, mineralogical scanning, hardness testing and flotation studies, with select material forwarded to Glencore’s Horne Smelter for IsaMILL-based ultrafine grinding and metallurgical analysis.
The program aims to evaluate copper and polymetallic recoveries, including previously identified anomalous indium, and to assess the viability of a direct-to-smelter option using Glencore’s proprietary technology. Positive metallurgical performance from these tests could materially influence development decisions at Nine Mile Brook, strengthen the project’s economic profile and enhance the company’s positioning in the base and critical metals supply chain.
The most recent analyst rating on (TSE:NINE) stock is a Sell with a C$0.09 price target. To see the full list of analyst forecasts on Nine Mile Metals Ltd stock, see the TSE:NINE Stock Forecast page.
Nine Mile Metals reported certified assay results from drill hole WD-25-02 at its Wedge Mine project in New Brunswick, confirming a 32.10-meter interval grading 2.78% copper equivalent. The hole intersected three distinct VMS horizons with notable copper, zinc, silver and gold values, including a 6.02-meter massive sulphide zone at 5.64% copper equivalent and peak copper of 6.52% over one meter.
The company said the results demonstrate increasing copper grades to the west and underscore the value added by gold, silver and zinc in copper-equivalent calculations. Nine Mile plans further modeling, permitting of additional western drill holes and downhole geophysics to expand on the discovery, signaling potential to grow higher-grade mineralization at depth within the Wedge system.
The most recent analyst rating on (TSE:NINE) stock is a Hold with a C$0.20 price target. To see the full list of analyst forecasts on Nine Mile Metals Ltd stock, see the TSE:NINE Stock Forecast page.
Nine Mile Metals reported that drill hole WD-25-05 at its Wedge Project intersected a 44-meter interval of copper-bearing VMS and mineralized felsic volcanics, with core now submitted for base and precious metal assays. The company also completed two solid drill holes in the northwest portion of the property to support upcoming borehole electromagnetic surveying aimed at mapping additional mineralization and refining the deposit model.
The 2025 drill program comprised seven holes totaling 1,654 meters, all five copper-targeted holes successfully intersecting massive and banded sulphide mineralization in the western extension of the Wedge Mine. Management says the results expand understanding of the copper zone and geological controls, inform new drill collar locations, and underpin permitting underway for an expanded 2026 drill campaign at the Wedge, including the West Wedge and Tribag trend targets.
The most recent analyst rating on (TSE:NINE) stock is a Hold with a C$0.20 price target. To see the full list of analyst forecasts on Nine Mile Metals Ltd stock, see the TSE:NINE Stock Forecast page.
Nine Mile Metals has completed the fourth drill hole (DDH WD-25-04) in its Wedge Western Extension program, intersecting 40 metres of copper-bearing mineralization from 158 to roughly 198 metres depth, including zones with up to 50–60% sulphides dominated by pyrite and chalcopyrite. The presence of covellite and bornite, alongside repeated intersections of mineralized sheared rhyolite across multiple holes, indicates a robust copper-bearing VMS system at depth, which the company’s technical team sees as an important structural and geological guide for targeting the remaining holes in the current seven-hole drill campaign and potentially shaping future exploration plans at the Wedge project.
Nine Mile Metals Ltd. has increased the size of its previously announced listed issuer financing exemption offering from up to $4 million to as much as $6.2 million in response to strong investor demand, issuing units comprised of one common share and one warrant exercisable at $0.30 for two years. The financing, offered to investors across most Canadian provinces without a statutory hold period for qualifying subscribers, is expected to close around January 19, 2026 and may include finders’ fees; proceeds will be directed toward exploration and related expenses at the company’s critical minerals projects in the Bathurst Mining Camp as well as general corporate purposes, potentially strengthening its capital position as it pursues growth in the EV- and green-technology-focused minerals space.
Nine Mile Metals Ltd. has launched a non-brokered private placement of up to 21,052,632 units at $0.19 per unit to raise as much as $4 million, with each unit consisting of one common share and one two-year warrant exercisable at $0.30. The financing, offered under the listed issuer financing exemption in Canada (excluding Quebec), is expected to close around January 13, 2026, and the company plans to use the proceeds to fund exploration work and related expenses on its critical minerals projects in the Bathurst Mining Camp, as well as for general corporate and administrative purposes, potentially strengthening its ability to advance key assets in a strategic mining district.
Nine Mile Metals reported certified assay results from surface VMS mineralization at its Wedge Project in New Brunswick, with multiple grab samples grading above 10% copper and peak values reaching 15% copper and more than 16% copper equivalent. The company says the massive sulphide mineralization and visible high-grade copper minerals align with what it is encountering in its initial drill holes, reinforcing confidence in the Wedge program’s potential and supporting its strategy of targeting a high-grade, copper-rich deposit ahead of forthcoming certified drill core assays.
Nine Mile Metals has completed its third drill hole, DDH WD-25-02B, in the Wedge Western Extension program in New Brunswick, intersecting 66 metres of copper-rich VMS mineralization from about 56 metres down to the end of the hole at 122 metres. The hole, drilled northwest of a previous collar, extended the mineralized footprint to the west and encountered massive copper-bearing sulphides with visible chalcopyrite in both sedimentary and volcanic host rocks, but had to be terminated in a strongly mineralized zone due to difficult ground conditions in a fault zone. Core from the hole has been logged, sampled and shipped to ALS Global for expedited base and precious metals assays, while the technical team designs a follow-up hole from the opposite side of the fault for a 2026 drill phase to better test the thickness and scale of what management describes as an increasingly impressive, high-grade copper zone at the Wedge project.