Royal Road Minerals (RYR) AI Stock Analysis

• Market Cap: C$63.77M
• Dividend Yield: N/A
• Average Volume (3M): 1.76M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.39
• Revenue Growth: N/A
• EPS Growth: 53.78%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): >-0.01
• Shares Outstanding: 265,695,800
• 10 Day Avg. Volume: 80,847
• 30 Day Avg. Volume: 1,763,349
• PEG Ratio: 0.09
• Price to Book (P/B): 3.07
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -9.02
• 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: 50 Neutral
• Price Target: C$0.24 ▲(20.00% Upside)

The score is held down primarily by weak financial performance (no revenue, ongoing losses, and cash burn) despite a low-debt balance sheet. Technical indicators are neutral-to-modestly supportive, and recent corporate events (financing plus exploration progress) provide upside optionality, but valuation remains constrained by negative earnings and no dividend support.

Positive Factors

Low leverage

A minimal debt load materially reduces solvency and refinancing risk for an exploration company that lacks operating cash flow. This preserves strategic optionality to pursue drilling, farm-outs, or M&A without near-term debt pressure, supporting long-term project advancement.

Recent financing increases runway

Fresh capital earmarked for drilling materially extends the company’s ability to advance targets and de-risk assets before requiring additional funding. For explorers, funded drill programs increase resource-definition optionality and partnering or JV exit prospects over the medium term.

Focused exploration strategy

A clear, repeatable exploration business model across multiple jurisdictions concentrates management expertise and capital deployment on value-creating activities (mapping, sampling, geophysics, drilling). This specialization aids efficient discovery cycles and partnerability over time.

Negative Factors

No reported revenue

Sustained absence of revenue means the business depends entirely on financing rather than internal cash generation. Over months, this limits self-funding capability, increases dilution risk, and forces reliance on capital markets or partners to advance projects to development.

Persistent cash burn

Consistent negative operating and free cash flow erodes reserves and necessitates recurrent financings. For an explorer this reduces negotiating leverage with JV partners and heightens execution risk if markets tighten, making project timelines and advancement contingent on external capital.

Material equity erosion

Steep declines in shareholders’ equity indicate repeated dilution or cumulative losses, weakening the company's ability to secure favorable partner terms and signaling sustained capital consumption. This structural erosion increases long-term shareholder risk absent sustained positive results.

Royal Road Minerals Business Overview & Revenue Model

Company Description

Royal Road Minerals Limited engages in the exploration and development of mineral properties in Colombia, Nicaragua, and Peru. The company primarily explores for gold and copper deposits. It holds interests in the Los Andes project located in Boaco department of Nicaragua; and the Piedra Iman property located in Chinandega district of Nicaragua. The company also holds various mining concession agreements; and holds mining concessions approximately 168,841 hectares of land in prospective mineral belts in the Nariño, Cauca, Antioquia and Caldas departments of Colombia. It has a strategic alliance agreement with Mineros S.A. for joint exploration of Guintar-Niverengo-Margaritas Project. The company was formerly known as Tigris Resources Limited and changed its name to Royal Road Minerals Limited in April 2015. Royal Road Minerals Limited was incorporated in 2010 and is headquartered in Saint Helier, Jersey.

How the Company Makes Money

Royal Road Minerals generates revenue through the exploration and development of mineral properties, leading to the eventual sale of extracted minerals, primarily gold and copper. The company identifies promising mineral deposits, conducts exploration activities to assess their viability, and seeks to develop these sites into operational mines. Revenue streams are primarily derived from the sale of mined minerals, as well as potential joint ventures and partnerships with other mining firms to share the costs and profits of mineral extraction. Additionally, the company's strategic partnerships and agreements with local governments and stakeholders can play a significant role in facilitating access to valuable resources and enhancing their operational capabilities.

Royal Road Minerals Financial Statement Overview

Summary

Income statement and cash flow are weak: no reported revenue and ongoing losses, with continued operating and free-cash-flow burn in recent periods. The balance sheet is a partial offset with minimal leverage, but equity has eroded materially over time, reflecting ongoing value dilution/erosion risk.

Income Statement

The company has no reported revenue across all periods provided, and profitability remains weak with consistently negative operating results. Losses have improved materially from 2022–2023 levels to 2024 and TTM (Trailing-Twelve-Months), but net income is still deeply negative in TTM (Trailing-Twelve-Months) (about -$5.8M) and 2024 (about -$4.6M). A one-time profitable year in 2021 stands out, but it has not been sustained, keeping overall earnings quality and business momentum low.

Balance Sheet

Leverage is very low, with total debt minimal relative to equity (debt-to-equity near ~0.4% or less in recent periods), which reduces solvency risk. However, the equity base has declined substantially over time (from ~$38.7M in 2021 to ~$5.4M in TTM (Trailing-Twelve-Months)), consistent with ongoing losses. Returns on shareholder capital are negative in most years and in TTM (Trailing-Twelve-Months), signaling continued value erosion despite a clean debt profile.

Cash Flow

Cash generation has deteriorated back into heavy cash burn: operating cash flow and free cash flow are negative in 2022–2024 and TTM (Trailing-Twelve-Months) (TTM operating cash flow about -$3.6M; free cash flow about -$3.8M). While free cash flow is less negative than in 2022–2023 (an improvement trend), the business is still not self-funding. The strong positive cash flow in 2021 appears non-recurring given the subsequent multi-year outflows.

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	-85.74K	-52.12K	-62.37K	-68.17K	-44.35K	-14.11K
EBITDA	-3.18M	-2.59M	-14.73M	-9.22M	-13.07M	-6.57M
Net Income	-5.84M	-4.63M	-15.46M	-12.33M	15.81M	-5.99M
Balance Sheet
Total Assets	5.55M	9.83M	14.27M	28.06M	39.66M	20.06M
Cash, Cash Equivalents and Short-Term Investments	3.95M	7.98M	13.29M	21.11M	29.02M	10.38M
Total Debt	11.97K	44.37K	79.19K	110.08K	146.06K	0.00
Total Liabilities	168.25K	314.79K	366.36K	974.62K	944.48K	177.96K
Stockholders Equity	5.38M	9.51M	13.91M	27.09M	38.72M	19.88M
Cash Flow
Free Cash Flow	-3.85M	-3.24M	-6.96M	-9.31M	17.79M	-3.79M
Operating Cash Flow	-3.57M	-3.14M	-6.94M	-8.85M	17.91M	-3.75M
Investing Cash Flow	-2.86M	4.10M	-7.44M	-534.74K	-121.80K	-38.31K
Financing Cash Flow	-47.48K	-45.51K	-43.64K	-41.81K	639.48K	10.99M

Royal Road Minerals Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.20
• 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:RYR, the sentiment is Positive. The current price of 0.2 is below the 20-day moving average (MA) of 0.23, below the 50-day MA of 0.21, and above the 200-day MA of 0.16, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 57.61 is Neutral, neither overbought nor oversold. The STOCH value of 26.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:RYR.

Royal Road Minerals 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%
FOR	55 Neutral	C$55.14M	-28.62	-6.38%	―	―	1.39%
RYR	50 Neutral	C$63.77M	-10.91	-71.61%	―	―	53.78%
KLDC	48 Neutral	C$41.11M	-15.00	-16.97%	―	―	―
UGD	47 Neutral	C$60.15M	-28.17	-141.64%	―	―	35.45%
NPR	47 Neutral	C$43.68M	-8.71	-30.23%	―	―	41.41%
IVS	45 Neutral	C$68.79M	-22.45	-3699.15%	―	―	-2000.00%

Royal Road Minerals Corporate Events

Royal Road Secures 30-Year Chuscalita Mining Title and Starts Drilling in Colombia

Royal Road Minerals has secured the formal granting of the Chuscalita Mining Concession Contract in Colombia, converting its prior application into a 30-year title and triggering a US$150,000 payment to the local titleholders under an existing option agreement. The company now holds the exclusive right to acquire an 80% interest in the Chuscalita concession, adjacent to its Güíntar project, via a future one-time payment of US$1.125 million, with the remaining 20% interest converting into a net smelter returns royalty after a feasibility study. With tenure in place and drilling already underway, Royal Road is integrating Chuscalita into its district-scale geological model as a logical extension of the broader Güíntar porphyry-skarn system, positioning the asset as a priority target within its 1,840-square-kilometre Colombian portfolio and potentially enhancing its growth prospects in the gold-copper sector.

The most recent analyst rating on (TSE:RYR) stock is a Hold with a C$0.20 price target. To see the full list of analyst forecasts on Royal Road Minerals stock, see the TSE:RYR Stock Forecast page.

Royal Road Minerals Advances Drilling Plans in Colombia and Expands License Portfolio in Saudi Arabia

Royal Road Minerals has outlined the next phase of work at its Guintar-Aleman-Margaritas project in Colombia, where it is finalizing drill locations and completing a drone-borne magnetic survey ahead of a drilling program slated to begin by the end of January. Initial drill pads have been set on surface-exposed porphyry-style stockworks that have already delivered encouraging channel sample results, and the company plans to expand drilling into new, previously untested targets in the Guintar North porphyry area and at El Aleman, aiming to build on historical intersections of broad gold mineralization. In Saudi Arabia, through its 50:50 joint venture Royal Road Arabia with local partner MIDU, the company is continuing reverse circulation drilling at the Jabal Sahabiyah project, testing extensive sheeted gold-vein and vein-breccia systems that have yielded strong rock-chip grades, while simultaneously strengthening its regional footprint with seven newly awarded exploration licenses in the Nabitah Mobile Belt, a prolific corridor hosting multiple gold, copper and zinc occurrences and an operating gold mine. The new Saudi licenses, which come with staged expenditure commitments and environmental and social approval requirements, signal a strategic expansion of Royal Road’s exploration pipeline in a highly prospective district and position the company for potential future discoveries that could enhance its long-term growth profile and regional presence.

Royal Road Minerals Raises $5 Million to Expand Drilling Programs

Royal Road Minerals has successfully closed a non-brokered private placement, raising $5 million through the issuance of 27,772,523 ordinary shares. The funds will be used to expand drilling programs in Colombia and Saudi Arabia. The offering attracted interest from new and existing investors, with Rio2 Limited maintaining its 15% stake in the company. The transaction involved related parties but complied with regulatory exemptions, and broker warrants were issued as part of the closing.

Royal Road Minerals Reports Positive Sampling Results at Ash Shajjah

Royal Road Minerals announced positive rock-chip channel sampling results from the Ash Shajjah prospect, part of its Jabal Sahabiyah gold exploration project in Saudi Arabia. The sampling has extended the known gold mineralization footprint to over 800 meters, with potential for further extension. The company plans follow-up drilling to explore these promising findings, which could lead to an open-pit mining scenario, potentially enhancing its industry positioning and offering significant implications for stakeholders.

Royal Road Minerals Launches C$5 Million Private Placement to Boost Drilling Operations

Royal Road Minerals has announced a non-brokered private placement offering of up to 27,777,778 ordinary shares at C$0.18 per share, aiming to raise up to C$5 million. The proceeds will fund drilling programs in Colombia and Saudi Arabia, enhancing the company’s strategic positioning and operational capabilities in these regions. The offering is expected to close by November 21, 2025, subject to necessary approvals, and marks a significant step in Royal Road’s expansion and communication strategy.