Sama Resources /Ressources Sama (SME) AI Stock Analysis

• Market Cap: C$16.51M
• Dividend Yield: N/A
• Average Volume (3M): 185.84K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.22
• Revenue Growth: N/A
• EPS Growth: -294.04%
• Country: CA
• Employees: 66
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): -0.05
• Shares Outstanding: 220,068,440
• 10 Day Avg. Volume: 284,243
• 30 Day Avg. Volume: 185,841
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.73
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -13.85
• 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: 42 Neutral
• Price Target: C$0.07 ▲(11.67% Upside)
• Action: Upgraded Date: 12/30/25
• Date: Action: Upgraded 12/30/25

The score is primarily held down by weak financial performance (no revenue base, operating losses, and persistent negative operating/free cash flow), partially offset by low leverage on the balance sheet. Technicals suggest only a modest near-term bounce within a broader downtrend, and valuation signals are constrained by losses and no provided dividend yield.

Positive Factors

Critical-minerals focus

Sama’s stated focus on nickel, copper and cobalt targets positions it in structural demand trends from electrification and batteries. As an explorer, successful discoveries or JV interest from majors can create lasting value and strategic optionality beyond short-term cycles.

Very low leverage

The company’s near-zero debt materially reduces solvency and refinancing risk, giving management flexibility to pursue exploration, farm-outs or staged development. Low leverage preserves options to raise equity or enter partner-funded JV deals without debt overhang.

Partnership/asset-sale monetization model

As a project-stage explorer, the company can de-risk via farm-outs, option deals, asset sales or royalties to conserve cash. That business model sustainably converts exploration upside into funding or cash proceeds without requiring mine-build economics in-house.

Negative Factors

No revenue base

Sama lacks operating revenue, relying on asset transactions or financing for cash. This structural absence of a revenue stream increases execution risk: value depends on discovery or partner deals, and failure to secure them forces dilution or project sales.

Persistent cash burn

Consistent negative operating and free cash flow means ongoing dependence on external funding. Although TTM cash burn improved versus prior years, free cash flow growth is sharply negative, shrinking runway and raising the likelihood of future equity issuance.

Earnings and equity volatility

Volatile equity and swinging ROE reflect inconsistent value creation and periodic write‑downs or losses. The recent large TTM net loss undermines investor confidence, complicates partner negotiations and may increase cost of capital for future funding rounds.

Sama Resources /Ressources Sama Business Overview & Revenue Model

Company Description

Sama Resources Inc. explores and develops mineral properties in West Africa. The company focuses on exploring the Samapleu property covering an area of 446 square kilometers located in Ivory Coast. It also holds interests in the Zérégouiné property covering an area of approximately 290 square kilometers; the Grata property covering an area of approximately 92 square kilometers; and the Zoupleu property covering an area of approximately 135 square kilometers located in Ivory Coast. The company was incorporated in 2006 and is headquartered in Mont-Royal, Canada.

How the Company Makes Money

Sama Resources makes money through the discovery and development of mineral resources, which can be monetized through several channels. The company generates revenue primarily by advancing its exploration projects to the point where they become attractive to larger mining companies or investors, who may purchase or invest in the projects for their future production potential. Sama's key revenue streams include joint ventures, strategic partnerships, and potential sale or option agreements with entities interested in its mineral assets. Additionally, the company may earn income through royalties or production sharing agreements once the projects reach the production stage. Significant partnerships, such as those with larger mining companies, also contribute to Sama's earnings by providing the necessary capital and expertise to advance exploration and development activities.

Sama Resources /Ressources Sama Financial Statement Overview

Summary

Income statement and cash flow are weak: no reported revenue, recurring operating losses, and consistently negative operating/free cash flow (cash burn). The balance sheet is a relative positive with very low debt, but equity/ROE volatility and a large TTM net loss indicate elevated execution and financing risk.

Income Statement

Across the period, the company reports no revenue and consistently negative gross profit and EBIT, indicating ongoing operating losses. Profitability is volatile: annual net income swung from losses (2020, 2021, 2023) to gains (2022, 2024), but TTM (Trailing-Twelve-Months) reverted to a large net loss (~$9.3M), suggesting recent deterioration. Overall, earnings quality appears weak given repeated operating losses and the lack of a revenue base.

Balance Sheet

Leverage is very low, with total debt near zero in most years and a debt-to-equity ratio effectively ~0, which meaningfully reduces financial risk. However, equity has been volatile (notably down versus prior years), and returns on equity swing sharply from positive (2022, 2024) to deeply negative in TTM (Trailing-Twelve-Months), reflecting inconsistent value creation. The balance sheet is a relative strength, but profitability-driven equity erosion remains a key risk.

Cash Flow

Operating cash flow is negative in every period provided, and free cash flow is also consistently negative, implying ongoing cash burn and reliance on external funding over time. Cash burn improved in TTM (Trailing-Twelve-Months) versus several prior years, but the latest free cash flow growth is sharply negative (TTM), highlighting renewed pressure. Free cash flow tracks net income closely in the data, yet the persistent negative operating cash flow points to limited self-funding capacity.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-8.44K	-79.62K	-345.00K	-351.00K	-21.17K	-24.23K
EBITDA	-6.91M	12.43M	-5.84M	1.78M	-3.24M	-1.44M
Net Income	-9.32M	12.31M	-3.96M	2.25M	-3.04M	-11.48M
Balance Sheet
Total Assets	12.82M	27.02M	15.07M	19.56M	48.10M	45.41M
Cash, Cash Equivalents and Short-Term Investments	938.75K	1.66M	2.96M	5.20M	1.95M	1.92M
Total Debt	0.00	0.00	0.00	40.00K	52.80K	33.34K
Total Liabilities	63.28K	17.68K	726.60K	747.88K	6.43M	4.06M
Stockholders Equity	12.76M	27.00M	14.09M	23.67M	40.01M	41.35M
Cash Flow
Free Cash Flow	-445.14K	-1.43M	-5.96M	-7.37M	-972.05K	-845.51K
Operating Cash Flow	-445.13K	-1.43M	-5.87M	-6.90M	-965.75K	-795.47K
Investing Cash Flow	-440.00K	-1.00M	-1.60M	6.97M	-2.74M	-2.34M
Financing Cash Flow	38.98K	795.53K	20.00K	5.18M	3.74M	50.63K

Sama Resources /Ressources Sama Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.06
• 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:SME, the sentiment is Positive. The current price of 0.06 is below the 20-day moving average (MA) of 0.08, below the 50-day MA of 0.07, and below the 200-day MA of 0.07, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 67.70 is Neutral, neither overbought nor oversold. The STOCH value of 61.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:SME.

Sama Resources /Ressources Sama 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%
MTT	51 Neutral	C$18.37M	-6.63	-27.44%	―	―	―
ABR	46 Neutral	C$15.57M	32.86	3.41%	―	―	―
GRG	46 Neutral	C$14.40M	-2.29	-65.04%	―	―	40.18%
PRIZ	46 Neutral	C$8.50M	-9.13	-50.61%	―	―	-3.49%
SME	42 Neutral	C$16.51M	-0.26	-53.52%	―	―	-294.04%
ROX	42 Neutral	C$12.04M	-5.36	―	―	―	-51.55%