Rusoro Mining (RML) AI Stock Analysis

• Market Cap: C$692.56M
• Dividend Yield: N/A
• Average Volume (3M): 398.04K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.66
• Revenue Growth: N/A
• EPS Growth: -12.17%
• Country: CA
• Employees: 785
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): 0.03
• Shares Outstanding: 626,749,450
• 10 Day Avg. Volume: 333,536
• 30 Day Avg. Volume: 398,035
• PEG Ratio: -0.29
• Price to Book (P/B): -2.04
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -79.68
• 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: 45 Neutral
• Price Target: C$0.91 ▼(-28.02% Downside)

The score is primarily constrained by distressed financial performance (no revenue base, recurring and widening losses, deeply negative equity, rising debt, and increased cash burn). Technical indicators are mixed and provide only modest support, while valuation metrics are not supportive given ongoing losses and no dividend yield data.

Positive Factors

Workforce / Operational Capacity

With 785 employees, Rusoro retains operational capacity and technical staff to support exploration, permitting, and potential restart activities. This human capital is a durable asset enabling quicker operational ramp-up or restructuring versus peers lacking in‑house personnel.

Historical cost control potential

The company’s cash flow history shows periods of near breakeven, indicating management has previously achieved tighter cost control. That demonstrated ability to reduce burn provides structural optionality to extend runway or stabilize operations if disciplined measures and better execution are applied.

Industry exposure (Gold)

Operating in the gold industry confers durable, asset-backed optionality: reserves and mining projects often retain intrinsic value. Over a 2–6 month horizon, industry exposure supports potential asset monetization or project reactivation if operations or financing improvements occur.

Negative Factors

No revenue base

Reporting zero revenue and gross profit from 2019–2024 means Rusoro lacks an operating cash-generating base. Without sales, the business cannot self-fund operations or invest in growth, making long-term viability contingent on material operational change or ongoing external financing.

Distressed balance sheet

Deeply negative equity and a sharp rise in debt against minimal assets indicate severe solvency risk. This capital structure constrains access to attractive financing, raises default and restructuring probability, and may force dilutive or creditor-led outcomes, limiting strategic flexibility.

Weak cash generation / rising cash burn

Negative operating and free cash flow in recent years, with larger burn in 2024, erodes runway and forces reliance on external funding. Persistent cash deficits reduce ability to fund exploration or restart activity, increase refinancing risk, and hamper longer-term operational recovery prospects.

Rusoro Mining Business Overview & Revenue Model

Company Description

Rusoro Mining Ltd. is a Canadian-based gold mining company focused on the acquisition, exploration, development, and operations of gold mining properties in Venezuela. The company primarily engages in gold production and exploration activities, striving to leverage its expertise in the mining sector to maximize value extraction from its assets.

How the Company Makes Money

Rusoro Mining generates revenue through the extraction and sale of gold from its mining operations in Venezuela. The company's primary revenue stream comes from selling gold extracted from its mines to international markets. Rusoro Mining may also engage in strategic partnerships or joint ventures with other mining companies or local governments to enhance its operational capabilities and access to resources. Additionally, the company might explore opportunities for expanding its asset base through the acquisition of new mining properties or rights.

Rusoro Mining Financial Statement Overview

Summary

Rusoro Mining is in a precarious financial position with no revenue, persistent net losses, negative equity, and reliance on financing activities. The company's financial health is concerning, with significant challenges in achieving profitability and financial stability.

Income Statement

The company consistently reports zero revenue, indicating no operational income. The net loss is substantial, with a widening trend from past years, highlighting a lack of profitability. The negative EBIT and EBITDA margins further underscore financial struggles.

Balance Sheet

Rusoro Mining exhibits a highly leveraged balance sheet with negative stockholders' equity, indicating insolvency risk. The debt-to-equity ratio is incalculable due to negative equity, exacerbating financial instability concerns.

Cash Flow

Negative operating and free cash flows reflect cash burn without income generation. However, financing cash flows are positive, indicating reliance on external funding to sustain operations. This could be risky if external funding sources diminish.

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	0.00	0.00	0.00	0.00
EBITDA	-79.63M	-26.80M	0.00	-5.26M	-2.71M	-1.77M
Net Income	-75.53M	-40.71M	-30.25M	-18.69M	-14.19M	-18.97M
Balance Sheet
Total Assets	86.00K	780.00K	1.87M	21.12K	18.65K	36.85K
Cash, Cash Equivalents and Short-Term Investments	21.00K	759.00K	1.86M	0.00	136.00	446.00
Total Debt	84.64M	79.66M	37.92M	35.25M	35.25M	35.25M
Total Liabilities	221.53M	183.05M	198.96M	169.17M	151.68M	137.52M
Stockholders Equity	-201.78M	-162.60M	-177.42M	-149.48M	-132.00M	-117.81M
Cash Flow
Free Cash Flow	-3.27M	-4.16M	-1.08M	-922.47K	-310.00	218.00
Operating Cash Flow	-3.27M	-4.16M	-1.08M	-922.47K	-310.00	218.00
Investing Cash Flow	0.00	0.00	0.00	0.00	0.00	0.00
Financing Cash Flow	319.00K	3.06M	2.94M	922.37K	0.00	0.00

Rusoro Mining Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.26
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:RML, the sentiment is Positive. The current price of 1.26 is above the 20-day moving average (MA) of 0.97, above the 50-day MA of 1.07, and above the 200-day MA of 1.01, indicating a bullish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 61.31 is Neutral, neither overbought nor oversold. The STOCH value of 54.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:RML.

Rusoro Mining Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MKO	76 Outperform	C$740.45M	19.93	29.30%	―	45.36%	-14.35%
HSTR	72 Outperform	C$682.51M	―	―	―	―	―
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
JAG	56 Neutral	C$657.36M	-28.61	-5.98%	―	-5.94%	-153.35%
TAU	54 Neutral	C$639.90M	-155.06	-1.82%	―	―	-251.92%
FF	54 Neutral	C$697.82M	-23.79	-11.85%	―	―	50.54%
RML	45 Neutral	C$692.56M	-9.59	―	―	―	-12.17%

Rusoro Mining Corporate Events

Rusoro Mining to Benefit from Court-Ordered Sale of PDV Holding Shares

Rusoro Mining Ltd. announced that a U.S. District Court has authorized the sale of shares of PDV Holding, a subsidiary of Venezuela’s national oil company, to Amber MSub LLC. This sale is intended to settle several billion dollars in judgments against Venezuela and its entities, including a $1.550 billion judgment in favor of Rusoro. Rusoro will receive $400 million in cash and $650 million in convertible notes, along with warrants for equity in Amber, potentially allowing them to recover the full value of their judgment. However, the sale is subject to appeal and requires approval from the U.S. Department of the Treasury.

Rusoro Mining Ltd. Updates on CITGO Auction Legal Proceedings

Rusoro Mining Ltd. announced that the Delaware Court of Chancery denied Gold Reserve’s request for expedited treatment of its motion for a preliminary injunction related to the CITGO auction process. The court found that Gold Reserve did not demonstrate a risk of irreparable injury, and disputes can be addressed by the federal court. Additionally, Judge Stark denied motions from Gold Reserve, Citgo, PDVSA, and the Republic of Venezuela to disqualify the special master and recuse himself, stating that these motions lacked merit and suggesting that the parties involved may wish for the sale process to fail.