Revival Gold (RVG) AI Stock Analysis

• Market Cap: C$228.91M
• Dividend Yield: N/A
• Average Volume (3M): 378.63K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.65
• Revenue Growth: N/A
• EPS Growth: -6.54%
• Country: CA
• Employees: 9
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): N/A
• Shares Outstanding: 272,511,870
• 10 Day Avg. Volume: 273,520
• 30 Day Avg. Volume: 378,632
• PEG Ratio: 0.27
• Price to Book (P/B): 2.94
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -12.02
• 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: 52 Neutral
• Price Target: C$0.80 ▲(7.84% Upside)

The score is held down primarily by weak financial performance (pre-revenue, ongoing losses, and cash burn) and limited valuation support (negative P/E and no dividend yield). Technicals provide a partial offset, with a moderately positive trend and MACD but neutral RSI indicating only moderate momentum.

Positive Factors

Conservative balance sheet (no debt)

No reported debt materially lowers financial risk for a pre-revenue gold explorer, preserving liquidity and flexibility to fund exploration, permitting, and studies. Lower fixed obligations increase optionality to time capital raises and absorb development delays.

Expanded equity capital base

A much larger equity base strengthens the balance sheet and funds near-term project advancement. This capital cushion reduces immediate pressure for debt, supports drilling and engineering programs, and allows management to pursue value-accretive milestones before production.

Improving cash usage and narrower losses

Reduced operating cash outflows and narrower net losses versus the prior year indicate improving operational efficiency and more disciplined spending. If sustained, this trend lengthens runway, lowers near-term financing frequency, and supports steady project progression.

Negative Factors

Pre-revenue operations

Being pre-revenue means the firm lacks operating cash inflows and depends on external financing or asset monetization to advance projects. This elevates execution, permitting, and commodity risks and makes long-term value creation contingent on successful project de-risking.

Ongoing negative operating and free cash flow

Sustained negative OCF and FCF reflect ongoing cash burn that requires repeated financing until revenue or asset monetization occurs. Persistent deficits restrict reinvestment, raise the likelihood of dilutive equity raises, and can force unfavorable financing terms.

Negative returns on equity and dilution risk

A roughly -21% ROE indicates current capital deployment is destroying shareholder value. Until projects generate positive cash flow or are sold at accretive prices, the enlarged equity base risks further dilution and limits prospects for meaningful shareholder returns.

Revival Gold Business Overview & Revenue Model

Company Description

Revival Gold Inc. operates as a gold mineral exploration and development company in Canada. It holds 100% interest in the Beartrack-Arnett Gold Project located in Lemhi County, Idaho; and 51% interest in the Diamond Mountain Phosphate Project located in Uintah County, Utah. The company was formerly known as Strata Minerals Inc. and changed its name to Revival Gold Inc. in July 2017. The company was incorporated in 2008 and is based in Toronto, Canada.

How the Company Makes Money

Revival Gold makes money through the exploration and development of gold mining projects, with the aim of eventually producing and selling gold. The company invests in exploration activities to discover and expand gold resources, which can lead to increased valuation and attract investment. Revenue generation typically occurs once the projects reach production, where gold is extracted and sold to the market. Key revenue streams include the sale of gold and potential strategic partnerships or joint ventures with other mining companies, which can provide additional capital and share operational risks. Revival Gold also relies on raising funds through equity financing to support its exploration and development activities.

Revival Gold Financial Statement Overview

Summary

Overall financials are constrained by a pre-revenue model with persistent losses and ongoing cash burn (negative EBIT, net income, operating cash flow, and free cash flow). The key offset is a conservative balance sheet with no debt and a much larger equity base, which reduces near-term financial risk but does not solve profitability and funding dependence.

Income Statement

The company remains pre-revenue (revenue is $0 across periods), with recurring operating losses. Profitability is weak: EBIT is deeply negative in TTM (Trailing-Twelve-Months) (-$10.8M) and net income is also negative (-$8.4M), though losses have generally narrowed versus FY2023 (net loss of ~$11.4M). Overall, earnings quality and operating leverage are constrained until the business reaches meaningful revenue generation.

Balance Sheet

The balance sheet is conservatively positioned with no debt reported (debt-to-equity at 0.0), which limits financial risk and provides flexibility. Equity has expanded materially versus prior years (stockholders’ equity ~$57.8M in TTM vs ~$12.3M in FY2023), supporting the asset base. The key weakness is that returns on equity are meaningfully negative (about -21% in TTM (Trailing-Twelve-Months)), reflecting ongoing losses and value dilution risk if additional funding is required.

Cash Flow

Cash generation remains a key pressure point: operating cash flow is negative in TTM (Trailing-Twelve-Months) (-$8.6M) and free cash flow is also negative (-$8.7M), indicating continued cash burn. A positive sign is improved cash usage versus earlier periods (e.g., FY2023 operating cash flow of about -$10.5M), and free cash flow is roughly in line with net loss (free cash flow to net income ~1.01x in TTM (Trailing-Twelve-Months)). Still, the company likely remains dependent on external funding until it can transition to revenue-producing operations.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-38.65K	-45.33K	-7.77K	-2.17K	-2.93K	-4.25K
EBITDA	-8.75M	-8.07M	-8.94M	-11.45M	-8.88M	-9.66M
Net Income	-8.44M	-8.04M	-8.59M	-11.39M	-8.89M	-9.77M
Balance Sheet
Total Assets	60.04M	35.54M	39.29M	13.29M	15.49M	13.30M
Cash, Cash Equivalents and Short-Term Investments	24.56M	1.31M	5.30M	4.49M	7.10M	5.95M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	2.20M	1.65M	2.05M	1.01M	1.05M	810.74K
Stockholders Equity	57.84M	33.89M	37.24M	12.28M	14.45M	12.49M
Cash Flow
Free Cash Flow	-8.68M	-8.28M	-8.73M	-11.13M	-8.85M	-9.30M
Operating Cash Flow	-8.57M	-8.00M	-8.03M	-10.46M	-8.53M	-8.96M
Investing Cash Flow	-375.32K	-184.92K	-682.58K	-661.17K	-316.48K	-340.76K
Financing Cash Flow	28.52M	4.10M	9.55M	8.48M	10.05M	14.12M

Revival Gold Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.74
• 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:RVG, the sentiment is Positive. The current price of 0.74 is below the 20-day moving average (MA) of 0.80, below the 50-day MA of 0.75, and above the 200-day MA of 0.62, indicating a bullish trend. The MACD of 0.03 indicates Positive momentum. The RSI at 55.03 is Neutral, neither overbought nor oversold. The STOCH value of 30.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:RVG.

Revival Gold 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%
SOMA	60 Neutral	C$245.38M	21.85	58.09%	―	12.05%	―
AU	58 Neutral	C$264.53M	-43.01	-7.79%	―	―	-105.98%
RVG	52 Neutral	C$228.91M	-17.18	-22.63%	―	―	-6.54%
MGG	51 Neutral	C$265.75M	-23.96	-89.19%	―	―	-70.87%
NCAU	49 Neutral	C$194.98M	-44.85	-5.92%	―	―	-7.14%

Revival Gold Corporate Events

Revival Gold Advances Mercur Project With Strong Drilling Results and New General Manager

Revival Gold reported encouraging new drilling results from its Mercur Gold Project in Utah, including intercepts of 1.8 g/t gold over 25.9 meters and other significant intervals of near-surface oxide mineralization that confirm the expected grade, leachability, and exploration upside relative to existing resource and metallurgical models. Alongside these results, the company outlined key steps in advancing Mercur toward a planned pre-feasibility study in 2026, including launching baseline biological and archaeological mitigation fieldwork, preparing a new round of column leach metallurgical tests, initiating work to redevelop historical water supply wells, and appointing veteran mining executive Timothy S. Barnett as General Manager to oversee site development and operations, all aimed at restarting gold production at a targeted scale of 100,000 ounces per year.

The most recent analyst rating on (TSE:RVG) stock is a Hold with a C$0.75 price target. To see the full list of analyst forecasts on Revival Gold stock, see the TSE:RVG Stock Forecast page.

Revival Gold Caps 2025 With Strategic Financing, Strong Mercur Economics and U.S. Asset Consolidation

In 2025, Revival Gold reported a year of “transformational growth,” underpinned by strategic equity investments totaling C$34 million from Dundee Corporation and EMR Capital, both experienced mining-focused investors, strengthening the developer’s balance sheet and validating its asset base. The company delivered a robust Preliminary Economic Assessment for its Mercur project, outlining a 10-year mine life with average annual production of 95,600 ounces of gold, an after-tax NPV of US$752 million and 57% IRR at US$3,000/oz, and initiated permitting and technical work ahead of a planned 2026 pre-feasibility study. Revival also advanced drilling and metallurgical programs at both Mercur and Beartrack-Arnett, consolidated the full 7,200-hectare Mercur land package by exercising an option on Barrick claims, and strengthened its management team, moves that collectively enhance its development pipeline and position the company for further growth in the U.S. gold sector.

Revival Gold Secures Full Control of Mercur Gold Project From Barrick

Revival Gold has exercised its option to acquire 100% of Barrick Mining Corporation’s interest in the Mercur Gold Project in Utah, consolidating a 7,200-hectare land package and completing control over a large Carlin-style gold system. The move follows a 2025 preliminary economic assessment and a 13,000-metre drill program supporting a planned 2026 pre-feasibility study and mine permitting, with the PEA outlining a 10-year heap leach operation averaging 95,600 ounces of gold annually and indicating robust project economics at current and higher gold prices. Under the option terms, Revival Gold will acquire Barrick’s U.S. subsidiary, make staged payments totaling US$20 million tied to closing and future commercial production, and grant Barrick net smelter return royalties on Mercur and surrounding claims, with closing targeted for around April 1, 2026 subject to regulatory approvals and environmental bonding. Management describes Mercur as the company’s top production priority, highlighting Utah’s supportive jurisdiction, existing site infrastructure and Barrick’s legacy of strong environmental and community standards, which Revival Gold intends to maintain as it advances toward a restart of mining.

Revival Gold Reports Positive Drilling Results at Mercur Project

Revival Gold has announced an update on its drilling program at the Mercur Gold Project in Utah, revealing promising assay results from ten additional drill holes. The results indicate potential upside in the Rover area of the deposit, with several intercepts extending outside current pit designs. The drilling program, which is nearly 90% complete, supports a planned 2026 pre-feasibility study, marking a significant step towards restarting gold production at Mercur.

Revival Gold Reports AGM Results and Reaffirms Leadership

Revival Gold announced the results of their Annual General Meeting, where shareholders approved all business items, including the election of directors. Key leadership positions were reaffirmed, and 5,300,000 incentive stock options were granted to directors, officers, and consultants as part of the company’s annual compensation plan. This announcement underscores Revival Gold’s stable governance and strategic focus on advancing its gold projects, potentially enhancing its market position and shareholder value.

Revival Gold Reports Promising Drilling Results at Mercur Project

Revival Gold Inc. announced promising results from its ongoing drilling program at the Mercur Gold Project in Utah, revealing significant gold intersections that suggest potential for resource expansion. The shallow nature of the deposit and alignment with preliminary economic assessments indicate lower extraction costs and significant upside potential for investors, especially given the favorable long-term gold price projections.