Freedom Battery Metals, Inc. (RFLX) AI Stock Analysis

• Market Cap: C$1.83M
• Dividend Yield: N/A
• Average Volume (3M): 21.85K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.73
• Revenue Growth: N/A
• EPS Growth: -20.88%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): -0.03
• Shares Outstanding: 6,105,615
• 10 Day Avg. Volume: 16,138
• 30 Day Avg. Volume: 21,851
• PEG Ratio: 0.02
• Price to Book (P/B): -4.16
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -6.31
• 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: 44 Neutral
• Price Target: C$0.29 ▲(45.50% Upside)

The score is primarily held down by weak financial performance: no revenue, ongoing losses, negative free cash flow, and a balance sheet that has deteriorated to negative equity. Technicals are a partial offset with strong trend/momentum above key moving averages and positive MACD, but extremely overbought RSI/Stochastic increases near-term pullback risk. Valuation provides limited support due to negative earnings and no stated dividend yield.

Positive Factors

Battery-metals focus

The company's explicit focus on battery‑metals positions it within a durable structural market — battery supply chains. As a specialist explorer, successful discovery and resource definition can attract long‑term offtake, JV partners, and project finance, supporting sustained value creation if exploration converts to defined resources.

Improved operating cash burn

A material reduction in operating cash burn meaningfully extends runway and reduces near‑term financing pressure. If this improvement is sustained, it increases the company's ability to fund staged exploration, negotiate partner earn‑ins, and avoid immediate dilutive capital raises, strengthening execution capacity.

Modest absolute debt

Relatively low absolute debt keeps solvency risk limited and preserves flexibility to structure project finance or joint ventures. Lower leverage compared with heavily indebted peers supports optionality for future capital structures and reduces the chance of debt servicing constraining exploration activities.

Negative Factors

No revenue base

With no reported revenue the company lacks operating cash generation or commercial validation, relying entirely on external capital or partners to fund exploration. This creates a prolonged dependence on capital markets, elevates dilution risk, and leaves project viability unproven until resources are economically defined.

Negative shareholder equity

Negative equity reflects cumulative losses and a weakened balance sheet, limiting traditional financing options and increasing the likelihood of dilutive equity raises or onerous terms. This reduces bargaining power with partners and can slow project advancement or access to non‑dilutive capital.

Ongoing negative free cash flow

Despite improvement, persistent negative free cash flow means the company will continue to need external funding for exploration and development. Repeated capital raises risk shareholder dilution, may delay critical drilling or resource definition, and leave project timelines contingent on market access and partner support.

Freedom Battery Metals, Inc. Business Overview & Revenue Model

Company Description

Freedom Battery Metals Inc. engages in the business of exploration of mineral properties in Canada. It holds an option to acquire a 100% interest in the Zigzag lithium property comprising eight claims totaling approximately 2710 hectares land located in Thunder Bay Mining Division, Crescent Lake Area, Ontario, Canada. The company was formerly known as Reflex Exploration Inc. and changed its name to Freedom Battery Metals Inc. in April 2022. Freedom Battery Metals Inc. was incorporated in 2021 and is headquartered in Vancouver, Canada.

How the Company Makes Money

Freedom Battery Metals, Inc. generates revenue through the sale of raw and processed battery metals such as lithium and cobalt. The company earns money by extracting these minerals from its mining operations, processing them into high-purity products, and selling them to manufacturers of batteries for electric vehicles and other energy storage solutions. Key revenue streams include long-term supply contracts with battery manufacturers and partnerships with technology companies focused on sustainable energy. Market demand for cleaner energy solutions and the growth of the electric vehicle industry are significant factors driving the company's earnings.

Freedom Battery Metals, Inc. Financial Statement Overview

Summary

Income statement remains very weak with no reported revenue and continued net losses (improved from ~$6.3M in 2024 to ~$3.3M in 2025). Cash burn improved materially (operating cash outflow ~-$0.34M vs ~-$5.94M), but free cash flow is still negative. Balance sheet risk increased as equity turned negative (~-$0.7M) and assets fell sharply, despite debt still being modest (~$0.47M).

Income Statement

The company reports no revenue across the available annual periods, so operating performance is entirely loss-driven. Losses were very large in 2024 (net loss of ~$6.3M) and improved in 2025 (net loss of ~$3.3M), but profitability remains deeply negative and there is no demonstrated revenue base to absorb costs. Overall, the trajectory shows reduced losses most recently, but the income profile is still weak and early-stage in nature.

Balance Sheet

The balance sheet weakened meaningfully: stockholders’ equity moved from positive in 2024 (~$2.5M) to negative in 2025 (~-$0.7M), signaling cumulative losses and reduced financial flexibility. Total debt rose to ~ $0.47M in 2025 (from $0 in prior years), while total assets declined to ~ $0.67M (from ~ $2.87M in 2024). The key strength is that absolute debt is still modest, but negative equity is a major risk factor and can constrain future financing options.

Cash Flow

Cash burn improved sharply in 2025: operating cash outflow reduced to about -$0.34M (from about -$5.94M in 2024), and free cash flow improved to about -$0.48M (from about -$6.20M in 2024). However, free cash flow remains negative, indicating ongoing funding needs. Cash flow trends are a clear positive versus 2024, but the company is not yet self-funding.

Breakdown	TTM	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	0.00	0.00	0.00	0.00
EBITDA	-2.89M	-3.27M	-6.92M	-2.22M	-29.78K
Net Income	-2.95M	-3.33M	-6.33M	-2.22M	-29.78K
Balance Sheet
Total Assets	682.12K	672.18K	2.87M	2.30M	577.23K
Cash, Cash Equivalents and Short-Term Investments	7.96K	2.39K	65.10K	435.17K	503.74K
Total Debt	552.57K	469.97K	0.00	0.00	0.00
Total Liabilities	1.77M	1.40M	341.74K	143.91K	5.24K
Stockholders Equity	-1.09M	-728.43K	2.53M	2.15M	571.99K
Cash Flow
Free Cash Flow	-124.84K	-480.02K	-6.20M	-1.56M	-94.03K
Operating Cash Flow	-124.84K	-343.89K	-5.94M	-1.21M	-29.04K
Investing Cash Flow	-3.39K	-139.52K	-380.67K	-354.63K	-65.00K
Financing Cash Flow	100.69K	420.69K	5.95M	1.49M	597.77K

Freedom Battery Metals, Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.20
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:RFLX, the sentiment is Positive. The current price of 0.2 is below the 20-day moving average (MA) of 0.22, below the 50-day MA of 0.20, and below the 200-day MA of 0.29, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 81.15 is Negative, neither overbought nor oversold. The STOCH value of 100.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:RFLX.

Freedom Battery Metals, Inc. 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%
CELL	53 Neutral	C$7.74M	-2.17	-58.31%	―	―	4.17%
GEMC	45 Neutral	C$2.37M	-3.65	-15.45%	―	―	38.06%
QBAT	45 Neutral	C$2.78M	-2.58	-14.59%	―	―	-36.33%
VOLT	45 Neutral	C$1.66M	4.55	―	―	―	―
RFLX	44 Neutral	C$1.83M	-0.55	-673.26%	―	―	-20.88%
EDDY	36 Underperform	C$1.99M	-3.52	-9.82%	―	―	46.67%

Freedom Battery Metals, Inc. Corporate Events

Reflex Advanced Materials Launches C$200,000 Private Placement for Working Capital

Reflex Advanced Materials Corp. plans to raise up to C$200,000 through a non-brokered private placement of units priced at C$0.175, each consisting of one common share and one warrant exercisable at C$0.23 for 24 months. The proceeds are earmarked for working capital and general corporate purposes, with the financing subject to Canadian Securities Exchange approval and a standard four-month-plus-one-day hold period on the securities, underscoring the company’s ongoing efforts to fund its strategic metals and advanced materials exploration activities and strengthen its position in the domestic critical minerals supply chain.

The most recent analyst rating on (TSE:RFLX) stock is a Hold with a C$0.19 price target. To see the full list of analyst forecasts on Freedom Battery Metals, Inc. stock, see the TSE:RFLX Stock Forecast page.

Reflex Advanced Materials to Settle $420,000 in Debt with Equity and Warrants

Reflex Advanced Materials Corp. has entered into agreements to settle $420,000 of outstanding debt owed to an officer, service provider and consultants through the issuance of 2.8 million units, each consisting of one common share and one share purchase warrant. The transaction, which includes a related-party component but falls below the thresholds requiring a formal valuation and minority approval, is subject to Canadian Securities Exchange approval and will result in new equity and warrants with a two-year term, potentially strengthening the company’s balance sheet while diluting existing shareholders.

The most recent analyst rating on (TSE:RFLX) stock is a Hold with a C$0.19 price target. To see the full list of analyst forecasts on Freedom Battery Metals, Inc. stock, see the TSE:RFLX Stock Forecast page.

Reflex Advanced Materials to Settle $45,000 Debt Through Share Issuance

Reflex Advanced Materials Corp. has entered into a debt settlement agreement with a service provider, under which it will extinguish $45,000 of debt by issuing 246,981 common shares at a deemed price of $0.1822 per share. The share issuance, which remains subject to approval by the Canadian Securities Exchange and will carry a standard four-month-plus-one-day hold period, underscores the company’s continued reliance on equity-based arrangements to manage its liabilities while preserving cash for its mineral exploration and development activities in the strategic metals and advanced materials sector.

The most recent analyst rating on (TSE:RFLX) stock is a Hold with a C$0.16 price target. To see the full list of analyst forecasts on Freedom Battery Metals, Inc. stock, see the TSE:RFLX Stock Forecast page.