Phenom Resources Corp (PHNM) AI Stock Analysis

• Market Cap: C$34.11M
• Dividend Yield: N/A
• Average Volume (3M): 72.41K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.08
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: CA
• Employees: N/A
• Sector: General
• Sector Strength: N/A
• Industry: Gold
• EPS (TTM): >-0.01
• Shares Outstanding: 117,605,670
• 10 Day Avg. Volume: 85,560
• 30 Day Avg. Volume: 72,408
• PEG Ratio: 0.77
• Price to Book (P/B): 1.94
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -42.23
• 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: 54 Neutral
• Price Target: C$0.26 ▲(2.00% Upside)
• Action: N/A Date: 01/04/26
• Date: Action: N/A 01/04/26

The score is primarily constrained by weak financial performance (no revenue, ongoing losses, and negative cash flow) despite a strong, low-debt balance sheet. Technicals are moderately supportive with improving trend signals, while valuation is pressured by loss-making metrics and the absence of dividend support.

Phenom Resources Corp Business Overview & Revenue Model

Company Description

Phenom Resources Corp. engages in the acquisition, exploration, evaluation, and development of mineral properties in Canada and the United States. It holds an option to earn a 100% interest in the Carlin gold-vanadium project and Section 22 property located in Elko County, Nevada. It also owns interests in the West Jerome copper property located in Arizona. The company was formerly known as First Vanadium Corp. and changed its name to Phenom Resources Corp. in July 2021. Phenom Resources Corp. was incorporated in 2006 and is headquartered in Vancouver, Canada.

How the Company Makes Money

Phenom Resources Corp does not typically generate recurring operating revenue in the way a producing mining company does; instead, as an exploration-stage issuer, its business model generally relies on advancing mineral properties to create value that can be realized through transactions. Specific, company-confirmed revenue streams and arrangements are null. Potential monetization pathways for an exploration company can include: selling a property interest, optioning or vending projects to third parties, entering joint ventures/earn-in agreements where a partner funds exploration in exchange for an interest, or ultimately developing a project into production (directly or via a partner). However, without company-specific disclosures confirming which of these PHNM uses and the material terms, the company’s actual revenue model, key revenue streams, and significant partnerships contributing to earnings are null.

Phenom Resources Corp Financial Statement Overview

Summary

Balance sheet strength (effectively zero debt and rising equity) supports financial flexibility, but the operating profile is weak with no revenue, persistent net losses, and ongoing negative operating/free cash flow indicating continued funding needs.

Income Statement

Across 2020–2024 (annual), the company reports no revenue and persistent operating losses, consistent with an early-stage/resource exploration profile. Net losses remain sizable (about -$1.2M in 2024 vs. -$1.9M in 2023), showing some improvement year over year, but profitability is still structurally negative with no visible top-line traction in the provided data. Overall, earnings quality is weak given ongoing losses and lack of gross profit generation.

Balance Sheet

The balance sheet is a clear strength: total debt is effectively zero in recent years (and minimal even in 2020), resulting in very low leverage and good financial flexibility. Stockholders’ equity has grown meaningfully from about $9.4M (2020) to about $19.9M (2024), supporting the asset base (assets ~ $20.2M in 2024). The key weakness is negative returns on equity each year due to continued net losses, which pressures long-term value creation if losses persist.

Cash Flow

Cash generation is weak: operating cash flow is negative every year and roughly stable around a ~$(0.9–1.5)M burn, indicating ongoing funding needs. Free cash flow is also negative across the period, with particularly heavy outflows in 2021–2022, improving to about -$0.9M in 2023–2024; however, 2024 free cash flow declined versus 2023 (negative growth). A positive point is that free cash flow tracks net income closely in 2023–2024 (both negative), suggesting limited non-cash earnings distortion, but cash burn remains the central risk.

Breakdown	TTM	Feb 2025	Feb 2024	Feb 2023	Feb 2022	Feb 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-129.38K	-159.29K	0.00	0.00	-19.63K	-65.34K
EBITDA	-909.95K	-1.19M	-948.00K	-326.00K	-2.17M	-1.08M
Net Income	-1.17M	-1.19M	-1.87M	-2.03M	-2.77M	-1.15M
Balance Sheet
Total Assets	21.64M	20.19M	19.15M	18.72M	16.52M	10.24M
Cash, Cash Equivalents and Short-Term Investments	1.16M	385.09K	403.68K	573.65K	1.44M	1.69M
Total Debt	0.00	0.00	0.00	0.00	0.00	5.70K
Total Liabilities	310.08K	265.35K	836.94K	520.18K	1.27M	809.15K
Stockholders Equity	21.33M	19.93M	18.31M	18.20M	15.24M	9.43M
Cash Flow
Free Cash Flow	-1.30M	-915.46K	-914.01K	-5.85M	-6.85M	-2.05M
Operating Cash Flow	-1.30M	-915.46K	-914.01K	-1.08M	-1.45M	-611.65K
Investing Cash Flow	-1.01M	-1.53M	-783.95K	-4.78M	-5.56M	-1.50M
Financing Cash Flow	3.30M	2.43M	1.53M	4.99M	6.76M	2.53M

Phenom Resources Corp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
PHNM	54 Neutral	C$34.11M	-27.47	-5.33%	―	―	―
AUOZ	51 Neutral	C$27.04M	-15.87	-15.89%	―	―	47.41%
DLTA	46 Neutral	C$27.98M	-5.48	-182.71%	―	―	44.39%
ICM	44 Neutral	C$21.36M	-5.01	-59.85%	―	―	87.74%
KALO	44 Neutral	C$27.62M	-3.15	-446.15%	―	―	-58.16%
BARU	43 Neutral	C$17.07M	-5.87	-206.46%	―	―	5.41%

Phenom Resources Corp Corporate Events

Phenom Resumes Dual-Target Drilling at Crescent Valley Gold and Critical Metals Project in Nevada

Phenom Resources has resumed drilling at its Crescent Valley Gold Project in Nevada, leveraging favorable winter weather to follow up on encouraging results from its 2025 program and a recently identified rare earth and critical metals deposit. The campaign targets advancement of a Bonanza-type low sulphidation epithermal gold system with three additional step-out reverse circulation holes around prior hole CVN25-03, and a separate step-out hole aimed at evaluating an IOCG-style rare earth and critical metals feeder zone indicated by prior geophysical work.

The initial angle hole of the program, CVN26-05, has been completed to 506 metres with a substantial quartz-flooded interval, and assay results are pending, which will be key to confirming the scale and grade potential of the vein system. By pushing ahead on both high-grade gold and critical metals targets at Crescent Valley, situated along the Carlin Trend and Northern Nevada Rift, Phenom is seeking to strengthen its position in a region known for prolific low sulphidation deposits, potentially enhancing its resource base and strategic relevance for investors exposed to both precious and critical metals.

The most recent analyst rating on (TSE:PHNM) stock is a Hold with a C$0.25 price target. To see the full list of analyst forecasts on Phenom Resources Corp stock, see the TSE:PHNM Stock Forecast page.

Phenom Resources Raises $1.25 Million and Issues New Stock Options to Advance Nevada Projects

Phenom Resources Corp. has closed a non-brokered private placement, raising $1.25 million through the issuance of 5,000,000 units priced at $0.25, each consisting of one share and a four-year warrant exercisable at $0.35. The funds are earmarked for exploration work and general working capital, with strong participation from existing shareholders, including notable holders Rob McEwen, Bob Kopple and Eric Muschinski, and the financing remains subject to final TSX Venture Exchange approval.

In conjunction with the financing, the company granted 1,650,000 stock options to directors, officers and consultants at an exercise price of $0.275, vesting immediately and expiring in five years. The equity raise and option grants bolster Phenom’s financial and incentive structure as it advances its vanadium and gold exploration portfolio in Nevada, with all new securities subject to standard hold periods and exchange acceptance.

The most recent analyst rating on (TSE:PHNM) stock is a Hold with a C$0.25 price target. To see the full list of analyst forecasts on Phenom Resources Corp stock, see the TSE:PHNM Stock Forecast page.

Phenom Resources Launches $1.28 Million Private Placement to Advance Nevada Projects

Phenom Resources Corp. plans to raise up to $1.275 million through a non-brokered private placement of as many as 5.1 million units priced at $0.25, with each unit consisting of one common share and a four-year warrant exercisable at $0.35. Proceeds will fund work programs on its exploration properties and general working capital, while insider participation will constitute a related-party transaction under MI 61-101, although the company expects to rely on exemptions because insider subscriptions should remain below 25% of its market capitalization and the financing remains subject to regulatory approvals and a standard hold period.

The offering will be conducted under prospectus exemptions to qualified investors, with potential finder’s fees and all securities subject to a four-month-plus-one-day hold. The transaction underscores Phenom’s continued capital-raising efforts to advance its Nevada vanadium and gold assets, positioning the company to progress key exploration projects while navigating Canadian securities rules governing insider involvement and minority shareholder protections.

The most recent analyst rating on (TSE:PHNM) stock is a Hold with a C$0.25 price target. To see the full list of analyst forecasts on Phenom Resources Corp stock, see the TSE:PHNM Stock Forecast page.

Phenom’s Crescent Valley Drilling Strengthens Epithermal Gold Target in Nevada

Phenom Resources reported that new drilling at its Crescent Valley Gold Project in Nevada has further validated its bonanza-style low sulphidation epithermal gold target, with hole CVN25-03 showing a marked increase in gold presence, extensive quartz veining and brecciation, and the appearance of key alteration minerals associated with gold deposition. The results help establish the depth of the boiling zone in a 5–6 km-long quartz vein system, providing a clearer framework for lateral step-out drilling and reinforcing Crescent Valley as a dual opportunity project following the recent discovery of a rare earth and critical metals deposit, potentially enhancing the project’s strategic value and future development options for the company and its stakeholders.

The most recent analyst rating on (TSE:PHNM) stock is a Hold with a C$0.25 price target. To see the full list of analyst forecasts on Phenom Resources Corp stock, see the TSE:PHNM Stock Forecast page.

Phenom Resources Seeks US$19.8 Million U.S. DOE Grant for Vanadium-Nickel Pilot Project

Phenom Resources Corp. has submitted a grant application to the U.S. Department of Energy’s Office of Fossil Energy and Carbon Management seeking US$19.8 million in funding for an integrated pilot-scale validation project focused on high-grade vanadium and nickel feedstock, structured as a 48‑month program. If awarded, the DOE would cover 80% of the project cost, providing a potential catalyst for Phenom’s critical metals initiative while its core focus remains on gold exploration, where drilling at Crescent Valley and permitting at the Dobbin project continue to progress.

The most recent analyst rating on (TSE:PHNM) stock is a Hold with a C$0.25 price target. To see the full list of analyst forecasts on Phenom Resources Corp stock, see the TSE:PHNM Stock Forecast page.

Phenom Resources Unveils Major Rare Earth and Critical Metals Discovery in Nevada

Phenom Resources Corp. has announced the discovery of a significant near-surface rare earth element and critical metals deposit on its Crescent Valley property in Nevada, characterized as an Iron Oxide Copper Gold–type breccia body enriched in rubidium, hafnium, scandium, neodymium and other U.S.-listed critical metals. Early geophysical and drilling data suggest substantial dimensions and continuity of mineralization, prompting the company to more than quadruple its land position at the site and indicating potentially high in-situ rock values that could materially enhance Phenom’s critical metals portfolio and strategic relevance in North American supply chains as further exploration refines the deposit’s size and economics.

The most recent analyst rating on (TSE:PHNM) stock is a Hold with a C$0.25 price target. To see the full list of analyst forecasts on Phenom Resources Corp stock, see the TSE:PHNM Stock Forecast page.