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Pan Global Resources Inc (TSE:PGZ)
:PGZ
Canadian Market

Pan Global Resources (PGZ) AI Stock Analysis

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TSE:PGZ

Pan Global Resources

(PGZ)

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Neutral 45 (OpenAI - 5.2)
Rating:45Neutral
Price Target:
C$0.14
▼(-2.14% Downside)
The score is primarily held down by weak financial performance (pre-revenue, ongoing losses, and negative free cash flow despite low debt). Technicals also reflect subdued momentum (negative MACD and below-key moving averages). Offsetting these, corporate updates are positive (successful financings and encouraging drilling/target results), but they do not yet resolve the core profitability and funding-dependence risks.
Positive Factors
Debt-Free Balance Sheet
A debt-free balance sheet provides financial flexibility and reduces risk, allowing the company to focus on exploration and development without the burden of interest payments.
Strategic Partnerships
Strategic partnerships provide essential funding and expertise, aiding in the advancement of exploration projects and potentially accelerating the path to profitability.
Exploration Progress
Significant exploration progress and high-grade discoveries can enhance market position and offer growth opportunities, potentially leading to future revenue generation.
Negative Factors
Declining Equity
Declining equity and low asset levels suggest weakening financial health, potentially threatening the company's ability to secure future financing and support growth initiatives.
Negative Cash Flow
Consistently negative cash flow indicates ongoing capital strain, which can hinder the company's ability to sustain operations and invest in future projects.
Zero Revenue Generation
The absence of revenue generation poses a significant challenge to financial sustainability, limiting the company's ability to fund operations and invest in growth.

Pan Global Resources (PGZ) vs. iShares MSCI Canada ETF (EWC)

Pan Global Resources Business Overview & Revenue Model

Company DescriptionPan Global Resources Inc., a junior resource company, engages in the acquisition and exploration of mineral properties in Spain. It explores for lead, zinc, silver, gold, and copper deposits. The company has an option to acquire 100% interest in the Aguilas Project that includes 4 mineral exploration licenses covering 13,563 hectares, as well as additional mineral rights applications covering 2,803 hectares located in the provinces of Cordoba and Ciudad Real, Kingdom of Spain. It also has an option to acquire 100% interest in the Escacena Investigation Permit situated in Spain. The company was formerly known as Mosam Capital Corp. and changed its name to Pan Global Resources Inc. in December 2009. Pan Global Resources Inc. was incorporated in 2006 and is based in Vancouver, Canada.
How the Company Makes MoneyPan Global Resources makes money through the exploration and development of mineral properties, primarily targeting copper and other base metals. The company's revenue model is based on acquiring and exploring promising mineral assets, with the potential to advance these projects into economically viable mining operations. Key revenue streams include the sale of mineral rights, joint venture agreements with larger mining firms, and the eventual extraction and sale of minerals from developed projects. Significant partnerships with other exploration companies and investors play a crucial role in funding and advancing their exploration activities, contributing to the company's earnings.

Pan Global Resources Financial Statement Overview

Summary
Pan Global Resources faces significant financial hurdles with zero revenue generation and consistent operational losses, impacting its financial health. Despite a debt-free balance sheet, ongoing negative cash flows and declining equity raise concerns about sustainability.
Income Statement
Pan Global Resources has consistently reported zero revenue across all periods, indicating a lack of operational income. Negative EBIT and net income suggest significant operational losses, with no signs of revenue generation or profitability. The absence of revenue growth and poor margins point towards ongoing financial challenges.
Balance Sheet
The company maintains a zero debt position, which is a positive indicator of financial stability. However, equity has been declining over time, and the company is operating with low total assets. The equity ratio remains strong but could be threatened by ongoing losses.
Cash Flow
Operating cash flow is consistently negative, highlighting challenges in core business activities. While the company has managed to secure financing, free cash flow remains negative, reflecting ongoing capital strain. Lack of positive free cash flow growth suggests a need for improved cash management.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue0.000.000.000.000.000.00
Gross Profit0.000.000.00-7.00K-9.88K-17.64K
EBITDA-5.70M-6.01M-828.00K-10.15M-9.05M-4.53M
Net Income-7.45M-6.01M-10.78M-10.15M-9.06M-4.54M
Balance Sheet
Total Assets6.42M9.09M7.90M12.25M18.92M6.16M
Cash, Cash Equivalents and Short-Term Investments3.02M5.84M4.74M8.86M15.50M3.90M
Total Debt0.000.000.000.007.00K18.33K
Total Liabilities871.00K284.00K529.00K1.24M780.20K502.79K
Stockholders Equity5.55M8.80M7.37M11.01M18.14M5.66M
Cash Flow
Free Cash Flow-6.60M-5.79M-10.02M-9.26M-7.81M-2.82M
Operating Cash Flow-6.60M-5.79M-9.93M-9.34M-6.95M-2.78M
Investing Cash Flow5.00K17.00K2.05M-1.82M-794.38K-265.22K
Financing Cash Flow2.24M6.88M5.75M2.52M19.34M5.82M

Pan Global Resources Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price0.14
Price Trends
50DMA
0.14
Negative
100DMA
0.15
Negative
200DMA
0.14
Positive
Market Momentum
MACD
>-0.01
Negative
RSI
49.52
Neutral
STOCH
83.33
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:PGZ, the sentiment is Neutral. The current price of 0.14 is above the 20-day moving average (MA) of 0.14, below the 50-day MA of 0.14, and above the 200-day MA of 0.14, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 49.52 is Neutral, neither overbought nor oversold. The STOCH value of 83.33 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:PGZ.

Pan Global Resources Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
52
Neutral
C$43.65M-15.2942.57%
50
Neutral
C$64.70M-22.07-11.93%73.94%
45
Neutral
C$46.65M-5.71-95.37%10.91%
45
Neutral
C$44.68M-10.558.06%
42
Neutral
C$33.20M-3.77-198.13%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:PGZ
Pan Global Resources
0.14
<0.01
3.70%
TSE:BHS
Bayhorse Silver
0.13
0.06
85.71%
TSE:SRL
Salazar Resources
0.25
0.15
145.00%
TSE:WHY
West High Yield Resources
0.39
0.11
42.59%
TSE:DLP
DLP Resources
0.43
0.22
104.76%
TSE:LFLR
LaFleur Minerals
0.42
0.09
29.23%

Pan Global Resources Corporate Events

Business Operations and Strategy
Pan Global to Brief Investors on Maiden Copper-Gold Resource Estimates at Escacena
Positive
Jan 8, 2026

Pan Global Resources will host an investor webinar on January 12, 2026 to discuss its maiden copper and gold Mineral Resource Estimates for the La Romana and Cañada Honda deposits at the Escacena Project in southern Spain, with senior management outlining how these new resources enhance project value as the company advances multi-target exploration across its enlarged 10,000-hectare land package. The Escacena Project currently hosts the La Romana copper-tin-silver deposit with substantial measured, indicated and inferred resources, as well as the Cañada Honda copper-gold discovery with inferred resources, underscoring Escacena’s growing scale and potential in one of Europe’s premier mining jurisdictions near operating and redeveloping mines in the Iberian Pyrite Belt.

The most recent analyst rating on (TSE:PGZ) stock is a Hold with a C$0.14 price target. To see the full list of analyst forecasts on Pan Global Resources stock, see the TSE:PGZ Stock Forecast page.

Business Operations and Strategy
Pan Global to Brief Investors on Maiden Resource Estimates at Escacena Project
Positive
Jan 8, 2026

Pan Global Resources will host an investor webinar on January 12, 2026 to discuss its maiden copper and gold mineral resource estimates for the La Romana and Cañada Honda deposits at the Escacena Project in southern Spain. The event, led by senior management, will outline how these initial resource figures, which include significant copper, tin, silver and gold inventories, enhance the overall value of the now more than 10,000-hectare Escacena land package and support ongoing multi-target exploration in the Iberian Pyrite Belt, with implications for the company’s growth trajectory in a strategic European mining jurisdiction.

The most recent analyst rating on (TSE:PGZ) stock is a Hold with a C$0.14 price target. To see the full list of analyst forecasts on Pan Global Resources stock, see the TSE:PGZ Stock Forecast page.

Business Operations and Strategy
Pan Global files maiden resource estimates at Escacena copper-gold project in Spain
Positive
Dec 31, 2025

Pan Global Resources has reported maiden mineral resource estimates for the La Romana and Cañada Honda deposits at its Escacena Project in southern Spain, marking a key step toward potential future technical and economic studies. La Romana now hosts 32.4 million tonnes of measured and indicated resources grading 0.37% copper, 270 ppm tin and 1.68 g/t silver, plus 4.0 million tonnes inferred, with a large portion constrained within a conceptual open-pit shell and benefitting from advanced metallurgical test work that indicates potential for producing high-grade copper concentrates with low penalty elements. At Cañada Honda, the company outlined an inferred resource of 5.0 million tonnes grading 0.65 g/t gold, 0.14% copper and 1.17 g/t silver, with both deposits remaining open along strike and at depth and additional unclassified mineralization indicating scope for further resource growth. The initial estimates strengthen Pan Global’s technical foundation at Escacena, highlight the emergence of a second, gold-dominant system alongside La Romana, and position the project for continued exploration and future project evaluation in a mature mining jurisdiction.

The most recent analyst rating on (TSE:PGZ) stock is a Hold with a C$0.14 price target. To see the full list of analyst forecasts on Pan Global Resources stock, see the TSE:PGZ Stock Forecast page.

Business Operations and Strategy
Pan Global Extends High-Grade Copper-Tin Mineralization at La Romana in Spain
Positive
Dec 19, 2025

Pan Global Resources has reported positive step-out drilling results from six holes at the La Romana copper-tin-silver deposit in its Escacena Project in southern Spain, with intercepts including 6 meters grading 1.26% copper and 5 meters grading 1.01% copper with significant tin and silver. The new holes extend higher-grade mineralization by about 50 meters down-dip and indicate the system plunges a further 125 meters to the northwest, while also confirming additional near-surface copper in the hanging wall and footwall, supporting the potential for a larger conceptual open pit. These results will feed into the company’s maiden mineral resource estimate for Escacena, which is currently in progress and expected to clarify the scale and quality of the deposit as Pan Global continues step-out drilling in 2026 to further extend the 1.7-kilometer mineralized trend.

Private Placements and Financing
Pan Global Completes Private Placement to Boost Spanish Mining Projects
Positive
Dec 17, 2025

Pan Global Resources Inc. has successfully closed the final tranche of its non-brokered private placement, raising a total of $2,784,760 through the issuance of 17,404,750 common shares at $0.16 per share. This capital infusion is expected to bolster the company’s exploration efforts in Spain, enhancing its position in the copper and gold mining industry, and potentially benefiting stakeholders through increased project development and operational capacity.

Business Operations and StrategyPrivate Placements and Financing
Pan Global Extends Private Placement Closing Date to Boost Exploration Funding
Neutral
Nov 21, 2025

Pan Global Resources Inc. has announced an extension of the closing date for its non-brokered private placement financing to December 21, 2025. The financing aims to raise up to $3,000,000 through the sale of 18,750,000 common shares. The extension allows the company more time to complete the second tranche of the offering, which is pending approval from the TSX Venture Exchange. This move is part of Pan Global’s strategy to secure funding for its exploration projects in Spain, which are positioned to capitalize on the strong market demand for copper and gold.

Business Operations and Strategy
Pan Global Resources Unveils Promising Gold Findings at Cañada Honda Target
Positive
Nov 18, 2025

Pan Global Resources Inc. has announced promising results from its channel sampling at the Cañada Honda target within the Escacena Project in southern Spain. The sampling revealed a 26-meter interval grading 1.14 grams per tonne of gold, indicating a significant near-surface mineralization zone. This discovery, along with a 3-kilometer gravity and electromagnetic anomaly, suggests the potential for a large-scale copper-gold deposit. The company plans further exploration, including additional geochemical sampling and drilling, to expand the mineralization and test deeper extensions. These developments could enhance Pan Global’s positioning in the mining sector and offer substantial opportunities for stakeholders.

Business Operations and Strategy
Pan Global Resources Unveils New High-Priority VMS Target at Escacena South
Positive
Nov 6, 2025

Pan Global Resources has identified a new high-priority volcanogenic massive sulphide (VMS) target in the recently awarded Escacena South area in southern Spain. This discovery is based on historical exploration data and preliminary field inspections, indicating strong potential for VMS-style mineralization along a 1-kilometer trend. The Escacena South project nearly doubles the surface area of the Escacena Project, enhancing exploration potential with multiple untested gravity anomalies. The Trinidad and Carmen area is prioritized for drilling, pending necessary permits, while ongoing drilling continues at the Bravo target in the Escacena Project and the Providencia target in the Cármenes Project.

Private Placements and Financing
Pan Global Resources Completes First Tranche of Private Placement
Positive
Oct 23, 2025

Pan Global Resources Inc. has completed the first tranche of its non-brokered private placement, raising $2,322,800 through the issuance of 14,517,500 common shares. The proceeds will be used for exploration and drilling at its flagship properties in Spain. This financing round included participation from a company director, constituting a related party transaction. The move is expected to bolster Pan Global’s exploration efforts and strengthen its position in the mining industry, particularly in the copper sector, which is crucial for global electrification and energy transition.

Business Operations and Strategy
Pan Global Resources Begins Phase 2 Drilling at Cármenes Gold Discovery
Positive
Oct 20, 2025

Pan Global Resources has commenced Phase 2 drilling at its Cármenes Project in northern Spain, targeting extensions of the gold mineralization discovered in Phase 1 at the Providencia target. The new drilling aims to explore the depth potential indicated by a strong IP anomaly and further understand the geometry of the mineralization, which includes copper, nickel, cobalt, and gold. The project area, known for its historical mining activities, shows promise for additional discoveries, with extensive geological mapping and sampling underway.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Dec 30, 2025