Silver Bullet Mines Corp (SBMI) AI Stock Analysis

• Market Cap: C$33.63M
• Dividend Yield: N/A
• Average Volume (3M): 203.64K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.17
• Revenue Growth: N/A
• EPS Growth: -69.10%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Other Precious Metals
• EPS (TTM): N/A
• Shares Outstanding: 131,887,660
• 10 Day Avg. Volume: 142,351
• 30 Day Avg. Volume: 203,641
• PEG Ratio: -0.02
• Price to Book (P/B): -165.21
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -3.20
• 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$0.31 ▲(14.07% Upside)

The score is held back primarily by very weak financial performance (no revenue, ongoing losses, and sustained cash burn) and only modest balance-sheet flexibility. Offsetting this, technicals show a mildly improving trend and corporate updates are notably positive with shipments and a direct-ship deal that could support future revenue generation.

Positive Factors

Direct-ship agreement enabling concentrate sales

A signed direct-ship deal for up to 12,000 tons beginning Q1 2026 creates a structural pathway to generate commercial revenue from concentrates. If executed, it can materially reduce reliance on financing, fund ongoing development, and transition the company toward operating cash inflows.

Initial concentrate shipments and improving grades

Completed shipments and reported improving concentrate grades and visible gold are durable operational milestones that de-risk the project. Demonstrated producible product supports future sales, underpins ore-to-market capability, and strengthens the case for scaling production and improving unit economics.

Debt reduction and working-capital injections

Debenture conversions and warrant exercise proceeds structurally improve liquidity and cut nominal debt, easing near-term leverage pressure. These capital-structure actions increase runway and give management more flexibility to fund exploration and commercialization without immediate costly refinancing.

Negative Factors

No revenue and persistent net losses

Zero reported revenue and a TTM net loss of roughly $6.5M indicate the company has not yet proven a sustainable operating model. Persistent losses necessitate continual external funding, raise execution risk, and make long-term value creation contingent on successful commercial ramp-up.

Consistent negative operating and free cash flow

Sustained negative operating and free cash flow (~-$4.5M TTM) mean the business cannot self-fund exploration or development. Ongoing cash burn forces reliance on financings, increases dilution risk, and constrains the ability to invest in value-accretive projects or respond to adverse conditions.

Volatile equity and elevated leverage

Equity volatility (negative in recent annual periods) and a TTM debt-to-equity near 1.45 reflect a fragile capital structure. Elevated leverage raises refinancing and solvency risk, increases cost of capital, and limits strategic options until profitable operations or stronger equity cushions are established.

Silver Bullet Mines Corp Business Overview & Revenue Model

Company Description

Silver Bullet Mines Corp. engages in the acquisition, exploration, development, and extraction of natural resources, specifically precious metals in Arizona, Idaho, and Nevada. It primarily focuses on the development and operation of its Buckeye Silver Mine located outside of Globe, Arizona. The company is based in Burlington, Canada.

How the Company Makes Money

Silver Bullet Mines Corp generates revenue primarily through the extraction and sale of silver and other by-products obtained from its mining operations. The company engages in the exploration and development of mineral-rich properties, investing in technologies and methodologies to efficiently mine and process silver ore. Revenue streams include selling extracted silver to refineries and metal traders, who then distribute the silver for industrial, commercial, and investment purposes. The company's earnings are influenced by the global silver market prices, operational efficiencies, and partnerships with local and international mining entities that may provide access to new mining sites or advanced mining technologies.

Silver Bullet Mines Corp Financial Statement Overview

Summary

Financials remain very weak: revenue is $0 across periods, losses are persistent (TTM net loss ~ $6.5M), and cash burn continues (TTM operating cash flow and free cash flow ~ -$4.5M). Balance sheet risk is elevated with recently negative equity in annual periods and still relatively high leverage in TTM (debt-to-equity ~1.45), despite equity returning modestly positive in TTM.

Income Statement

Results remain very weak: revenue is $0 across the annual periods and in TTM (Trailing-Twelve-Months), while losses are persistent and large (TTM net loss of about $6.5M, with negative gross profit and negative EBIT/EBITDA). While losses improved versus 2022, they deteriorated again in the most recent annual period and TTM, highlighting an uneven cost structure and lack of operating leverage until production/sales meaningfully ramp.

Balance Sheet

The balance sheet shows elevated risk despite a modest absolute debt level: equity turned negative in 2024 and remained negative in 2025 annual results before returning positive in TTM (Trailing-Twelve-Months) (~$0.9M). Leverage is therefore volatile, with debt-to-equity swinging from conservative levels earlier (2021–2023) to distorted/very high when equity went negative, and still relatively high in TTM (debt-to-equity ~1.45). Total assets increased versus 2023, but the capital structure remains sensitive to continued losses.

Cash Flow

Cash generation is a key pressure point: operating cash flow and free cash flow are consistently negative across all periods, including TTM (Trailing-Twelve-Months) (operating cash flow about -$4.5M; free cash flow about -$4.5M). Free cash flow improved modestly in TTM versus the latest annual period, but the business still relies on external funding to sustain operations given ongoing cash burn and lack of revenue.

Breakdown	TTM	Dec 2025	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	-3.53M	-133.96K	-138.22K	-136.65K	-47.00K	0.00
EBITDA	-5.95M	-4.95M	-1.96M	-2.49M	-5.94M	-83.88K
Net Income	-6.49M	-5.49M	-2.27M	-2.78M	-6.07M	-1.89M
Balance Sheet
Total Assets	4.01M	3.35M	3.27M	3.15M	3.62M	5.13M
Cash, Cash Equivalents and Short-Term Investments	645.48K	239.08K	103.28K	7.77K	284.85K	3.51M
Total Debt	1.36M	1.31M	2.04M	1.21M	273.97K	230.13K
Total Liabilities	3.08M	3.43M	3.44M	1.89M	537.99K	599.06K
Stockholders Equity	934.93K	-79.09K	-170.37K	1.26M	3.08M	4.53M
Cash Flow
Free Cash Flow	-4.55M	-4.08M	-1.35M	-1.94M	-6.06M	-2.30M
Operating Cash Flow	-4.47M	-3.97M	-1.35M	-1.85M	-4.11M	-1.27M
Investing Cash Flow	-80.54K	-107.85K	-3.25K	-90.14K	-1.87M	-1.10M
Financing Cash Flow	5.22M	4.28M	1.55M	1.71M	2.80M	5.87M

Silver Bullet Mines Corp Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.27
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:SBMI, the sentiment is Negative. The current price of 0.27 is below the 20-day moving average (MA) of 0.28, above the 50-day MA of 0.26, and above the 200-day MA of 0.23, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 43.95 is Neutral, neither overbought nor oversold. The STOCH value of 7.02 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:SBMI.

Silver Bullet Mines Corp 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%
SWLF	58 Neutral	C$11.43M	-38.00	-8.97%	―	―	47.37%
SBMI	52 Neutral	C$33.63M	-3.79	-9498.89%	―	―	-69.10%
TSLV	52 Neutral	C$34.41M	-10.00	-71.82%	―	―	44.12%
SNG	51 Neutral	C$15.74M	-4.61	-44.50%	―	―	-221.30%
PNTR	42 Neutral	C$46.01M	-34.85	-72.41%	―	―	-14.77%

Silver Bullet Mines Corp Corporate Events

Silver Bullet Mines Receives First Payment From Arizona Gold-Silver Operations

Silver Bullet Mines Corp. has received its first payment for gold and silver concentrate from its Arizona operations, marking a transition from development and ramp-up activities to cash-generating production. The company has completed five shipments of concentrate, primarily derived from waste material at the KT and SC mines, is processing material for a sixth shipment, and expects future shipments to increase in both tonnage and grade, reinforcing management’s confidence in the operational viability of its Arizona assets and its strategy to build shareholder value through disciplined execution.

The most recent analyst rating on (TSE:SBMI) stock is a Sell with a C$0.28 price target. To see the full list of analyst forecasts on Silver Bullet Mines Corp stock, see the TSE:SBMI Stock Forecast page.

Silver Bullet Mines Uncovers High-Grade Silver-Gold Zone at KT Mine in Arizona

Silver Bullet Mines has identified a new potential high-grade silver-gold zone at its KT Mine in Arizona, where initial in-house assays from 12 samples returned between seven and twenty-seven ounces per ton silver, contrasting with the main KT vein that is primarily gold-rich with silver. The company has traced the newly exposed vein for more than 200 feet at surface, is excavating along strike, and has removed a 200-ton bulk sample for processing at its nearby mill, where concentrate from this zone is expected to be sold to the same buyer that is already receiving KT Mine concentrate. Processing of material from the main KT zone is ongoing, with four concentrate shipments already completed and a fifth imminent, and the company expects higher head grades as underground mining begins; meanwhile, SBMI is awaiting assay results and payment for its first concentrate shipment and is assessing strong fall development results from its Washington Mine in Idaho. The recent exercise of more than 6.6 million warrants at strike prices of $0.16 and $0.17 has bolstered the company’s working capital, supporting continued development, processing expansion and the advancement of new discoveries within its hub-and-spoke operating model.

The most recent analyst rating on (TSE:SBMI) stock is a Hold with a C$0.27 price target. To see the full list of analyst forecasts on Silver Bullet Mines Corp stock, see the TSE:SBMI Stock Forecast page.

Silver Bullet Mines Secures Direct-Ship Deal to Boost Revenue and Mine Development

Silver Bullet Mines Corp. has signed a one-year, renewable agreement with a major industry client to direct ship up to 12,000 tons of crushed material from its KT Gold and SC Silver mines in Arizona starting in the first quarter of 2026, without impacting existing milling operations. The deal, which uses London precious metals pricing and provides 80% provisional payments shortly after shipment documentation, is expected to create a significant new revenue stream, support expanded recovery of lower-grade ore amid higher metal prices, increase daily volumes while preserving high-grade underground material, and help fund mill throughput expansion and underground development, while the company also reports its fourth batch of concentrate ready for pickup and settles debenture interest through share issuance.

Silver Bullet Mines Corp Ships Second Batch of Gold/Silver Concentrate

Silver Bullet Mines Corp has announced the successful shipment of its second batch of gold and silver concentrates from the KT Gold Mine in Arizona. The company plans to continue processing material from this mine to maintain a biweekly shipment schedule, highlighting its focus on maximizing the grade of the concentrate to reduce additional costs. Despite positive assay results from the SC Mine, the company will prioritize resources towards the KT Mine due to its perceived higher value. This strategic decision could enhance the company’s operational efficiency and market positioning, potentially benefiting stakeholders by focusing on more lucrative resources.