Pasinex Resources (PSE) AI Stock Analysis

• Market Cap: C$21.51M
• Dividend Yield: N/A
• Average Volume (3M): 74.51K
• Price to Earnings (P/E): ―
• Beta (1Y): -2.10
• Revenue Growth: N/A
• EPS Growth: -269.70%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): 0.00
• Shares Outstanding: 204,813,870
• 10 Day Avg. Volume: 59,040
• 30 Day Avg. Volume: 74,513
• PEG Ratio: >-0.01
• Price to Book (P/B): -2.15
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -1.86
• 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: 47 Neutral
• Price Target: C$0.11 ▲(35.00% Upside)

The score is held down primarily by very weak financial performance (no revenue, ongoing losses, balance-sheet strain, and negative recent cash flow). Technicals provide some offset with moderately positive trend/momentum, but valuation remains unattractive/unclear due to a negative P/E and no dividend support.

Positive Factors

Clear production-linked business model

The company has a direct, production-linked revenue model: selling zinc-rich ore to processors/smelters. This creates a clear operational focus where revenue is tied to volumes, ore grade and payable metals, enabling durable planning around mining operations and commercial agreements.

Growing asset base

Rising total assets suggest investment in properties or working capital that can underpin future production or be monetized via JV/asset sales. A larger asset base provides optionality for operations and financing discussions over the medium term, supporting recovery potential.

Improving free cash flow trend

Although still negative, FCF improved versus the prior year in the trailing period, indicating operational or cost improvements. A sustained improvement trend would reduce cash burn, extend runway and improve financing flexibility if maintained over several quarters.

Negative Factors

No reported revenue and persistent losses

The absence of reported revenue and recurring operating losses undermine long-term viability: the business cannot internally fund operations or capital needs. Without sustainable revenue, the company must rely on external financing, increasing dilution and execution risk over months ahead.

Elevated leverage and thin/negative equity

Material debt combined with thin or negative equity raises solvency and refinancing risks. Elevated leverage limits financial flexibility, increases interest burden, and magnifies balance-sheet volatility, constraining the firm's ability to invest in production or absorb commodity price shocks.

Inconsistent and negative cash generation

Cash flow volatility and recent sustained negative operating and free cash flow indicate ongoing cash burn. Persistent negative cash generation forces reliance on external funding, undermines capacity for sustaining capex and maintenance, and raises medium-term liquidity and execution risks.

Pasinex Resources Business Overview & Revenue Model

Company Description

Pasinex Resources Limited engages in the acquisition, exploration, and development of mineral properties. It explores for zinc, lead, silver, and copper deposits. The company holds a 50% interest in the Pinargozu zinc mine; and the Akkaya property located in Adana Province, Turkey. It also holds an option to acquire 80% interest in the Gunman zinc exploration project in Nevada. The company was incorporated in 2006 and is headquartered in Toronto, Canada.

How the Company Makes Money

Pasinex Resources makes money primarily through the extraction and sale of zinc concentrate from its joint venture operations at the Pinargozu mine. Revenue is generated from the sale of zinc concentrate to third-party buyers in the market, where prices are influenced by global supply and demand dynamics. The company's financial performance is also impacted by the operational efficiency of its mining activities, the cost of production, and the quality of the mineral resources being extracted. Strategic partnerships, particularly the joint venture with Akmetal AS, play a crucial role in the company's operational capabilities and access to mining projects.

Pasinex Resources Financial Statement Overview

Summary

Very weak fundamentals: no reported revenue, persistent operating losses, and renewed/widening losses in recent years and TTM. Balance sheet risk is elevated with thin/negative equity in multiple years and material debt, while cash flow returned to negative (cash burn) in 2023–TTM despite some TTM improvement versus 2024.

Income Statement

Across the available annual periods and the latest TTM (Trailing-Twelve-Months), the company reports no revenue while generating persistent operating losses (negative EBIT/EBITDA). Net income is volatile, including a one-time positive year in 2022, but losses resumed and widened in 2023–2024 and further in TTM (Trailing-Twelve-Months). Overall, profitability and earnings quality are weak, with limited evidence of a sustainable operating turnaround.

Balance Sheet

Leverage is elevated and equity is thin/unstable. Debt remains material (about 3.3M in TTM (Trailing-Twelve-Months)), while equity is very small in the latest TTM (Trailing-Twelve-Months) and was negative in multiple years (e.g., 2020, 2021, 2024), indicating balance-sheet strain. The debt-to-equity relationship swings sharply due to low/negative equity, which increases financial risk and reduces flexibility despite total assets increasing versus earlier years.

Cash Flow

Cash generation has been inconsistent: operating and free cash flow were positive in 2022 but turned negative again in 2023–2024 and remained negative in TTM (Trailing-Twelve-Months). Free cash flow improved versus the prior year in TTM (Trailing-Twelve-Months) (positive growth rate), but it is still a sizable cash burn. Cash flow tracks net income closely (free cash flow to net income near 1x), yet the underlying issue is that both are negative in the most recent periods.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	0.00	-1.91K	-2.16K	0.00	0.00
EBITDA	-3.25M	-2.62M	-2.05M	-1.73M	-1.14M	-1.14M
Net Income	-3.52M	-2.65M	-310.00K	2.04M	-130.00K	-1.25M
Balance Sheet
Total Assets	4.05M	3.56M	3.02M	4.08M	2.87M	2.11M
Cash, Cash Equivalents and Short-Term Investments	1.17M	542.01K	177.28K	855.57K	100.03K	46.03K
Total Debt	3.31M	4.28M	2.53M	2.44M	2.93M	2.21M
Total Liabilities	3.87M	4.90M	2.98M	3.56M	3.99M	3.45M
Stockholders Equity	183.74K	-1.34M	47.97K	517.17K	-1.12M	-1.34M
Cash Flow
Free Cash Flow	-2.36M	-1.56M	-556.22K	1.84M	-509.64K	-847.24K
Operating Cash Flow	-2.35M	-1.55M	-554.40K	1.84M	-480.03K	-826.39K
Investing Cash Flow	-11.94K	-1.70K	-1.82K	-2.04K	-29.61K	-20.85K
Financing Cash Flow	2.52M	1.58M	-50.00K	-634.62K	580.00K	945.50K

Pasinex Resources Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.08
• 50DMA: Positive
• 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:PSE, the sentiment is Positive. The current price of 0.08 is below the 20-day moving average (MA) of 0.10, below the 50-day MA of 0.10, and above the 200-day MA of 0.08, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 49.54 is Neutral, neither overbought nor oversold. The STOCH value of 36.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:PSE.

Pasinex Resources Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EPL	62 Neutral	C$23.55M	41.49	3.69%	―	18.73%	-91.64%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
SRA	49 Neutral	C$20.89M	-63.86	16.97%	―	―	―
MN	49 Neutral	C$30.04M	-13.83	-78.78%	―	―	29.85%
STE	49 Neutral	C$30.00M	-27.81	-6.76%	―	―	78.16%
PSE	47 Neutral	C$21.51M	-4.30	-184.63%	―	―	-269.70%
SMY	45 Neutral	C$17.84M	-12.13	-6.20%	―	―	-205.83%

Pasinex Resources Corporate Events

Pasinex Cuts Debt with C$3.3 Million Shares-for-Debt Deal and Convertible Option

Pasinex Resources has completed a shares-for-debt transaction, issuing 33,405,205 common shares at C$0.10 each to settle C$3.34 million in liabilities owed to a group of creditors, including entities controlled by members of its board and senior leadership, in a move aimed at strengthening its balance sheet by reducing outstanding obligations. In tandem, the company amended a remaining C$2.05 million in debt to give participating creditors the option, for up to 36 months, to convert all or part of that balance into equity at the same C$0.10 price or be repaid in cash, a structure that both enhances Pasinex’s financial flexibility and underscores related-party participation under regulatory exemptions, with potential dilution balanced against improved financial stability for shareholders and other stakeholders.

The most recent analyst rating on (TSE:PSE) stock is a Hold with a C$0.09 price target. To see the full list of analyst forecasts on Pasinex Resources stock, see the TSE:PSE Stock Forecast page.

Pasinex Secures Full Control of Horzum and Advances Pinargözü Mine Development

Pasinex Resources has completed the transfer of all shares of Horzum A.Ş., giving its Turkish subsidiary Pasinex Arama full 100% ownership of the company that operates the high-grade Pinargözü zinc mine in Adana Province, Türkiye, and paving the way for a reconstituted board, updated governance and execution of its 2026 operational plan. The company reports ongoing operational progress at Pinargözü, including new infrastructure such as a material loading and sorting area, office upgrades and secured stock areas, steady production with roughly 340 tonnes of zinc sulphide now stockpiled at surface, evaluation of nearby processing facilities, and a health and safety program with no reported incidents, underscoring the mine’s readiness for expanded development and its importance to Pasinex’s growth strategy.

Pasinex Resources Gains Full Control of Pinargözü Zinc Mine; Launches Expansion Plan

Pasinex Resources has received approval from Türkiye’s General Directorate of Mining and Petroleum Affairs for full ownership of Horzum AS, which operates the Pinargözü zinc mine. The company plans a 1,000-metre development project to expand production capacity and access deeper zinc mineralization, aiming to extend the mine’s life and enhance shareholder value.

Pasinex Resources Reports Q3 2025 Results and Expands Ownership in Key Projects

Pasinex Resources reported a net income of $42,989 for the third quarter of 2025, but a net loss of $1,128,423 for the nine months ending September 30, 2025, primarily due to equity losses and increased administrative costs. The company has strengthened its position by securing 100% ownership of the Horzum A.Ş. and Sarikaya projects, which are expected to enhance its operational capabilities and market presence in the zinc mining sector.

Pasinex Secures Full Ownership of Sarikaya Zinc Project, Plans Development

Pasinex Resources has received approval from Türkiye’s General Directorate of Mining and Petroleum Affairs for full ownership of the Sarikaya zinc project. With this approval, the company plans to begin exploration and mine development activities, aiming for small-scale production by mid-2026. The Sarikaya project, characterized by high-grade zinc deposits, is strategically located near Pasinex’s existing operations, offering operational synergies. The company’s near-term development plan includes appointing key personnel, conducting environmental assessments, and starting underground drilling. This initiative is expected to strengthen Pasinex’s position as a leading zinc producer in Türkiye.