Stellar AfricaGold (SPX) AI Stock Analysis

• Market Cap: C$8.75M
• Dividend Yield: N/A
• Average Volume (3M): 360.67K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.65
• Revenue Growth: N/A
• EPS Growth: 51.22%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): N/A
• Shares Outstanding: 64,820,800
• 10 Day Avg. Volume: 187,411
• 30 Day Avg. Volume: 360,671
• PEG Ratio: 0.02
• Price to Book (P/B): 5.85
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -2.65
• 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: 44 Neutral
• Price Target: C$0.12 ▼(-13.57% Downside)

The score is primarily constrained by weak financial performance (no revenue, widening losses, and ongoing cash burn) and bearish technical signals (trading below major moving averages with negative MACD). Offsetting these negatives, recent corporate events (financing, JV partner funding, and positive drill results) improve funding visibility and project optionality, but not enough to outweigh the current fundamentals and trend.

Positive Factors

Exploration Initiatives

The initiation of the 2025 exploration program at Tichka Est Gold Project signifies a strategic focus on expanding gold resources, potentially enhancing long-term growth prospects and reinforcing the company's position in the precious metal exploration industry.

Debt Settlement

The completion of a shares-for-debt transaction reduces financial liabilities, improving the balance sheet and providing more flexibility for future operations and investments, which is crucial for long-term financial health.

Leadership Strengthening

The appointment of experienced directors can enhance strategic decision-making and operational execution, potentially improving project outcomes and shareholder confidence over the long term.

Negative Factors

Negative Stockholders' Equity

Negative stockholders' equity indicates more liabilities than assets, posing solvency risks and limiting the company's ability to finance operations or invest in growth opportunities, which can hinder long-term stability.

Consistent Losses

Ongoing losses without revenue generation highlight operational inefficiencies and challenge the company's ability to achieve profitability, impacting its long-term viability and ability to fund exploration activities.

Unsustainable Cash Flow

Negative cash flow from operations indicates reliance on external financing, which may not be sustainable long-term, potentially leading to liquidity issues and limiting the company's capacity to invest in growth initiatives.

Stellar AfricaGold Business Overview & Revenue Model

Company Description

Stellar AfricaGold Inc., together with its subsidiaries, engages in the acquisition, exploration, and evaluation of mineral properties in West Africa and Canada. It primarily explores for gold deposits. The company holds interest in the Lullwitz-Kaepelli gold property comprising 4 contiguous mineral claims totaling an area of 231.4 hectares located in Lacoste and De Sales township in the Charlevoix Area of Quebec; and a 100% interest in the Priko and Zenoula permits covering an area of approximately 770 square kilometers located in Côte d'Ivoire. It also holds an agreement to acquire a 90% interest in the Tichka Est-gold project located in the Atlas region of Morocco. The company was formerly known as Stellar Pacific Ventures Inc. and changed its name to Stellar AfricaGold Inc. in March 2013. Stellar AfricaGold Inc. is headquartered in Vancouver, Canada.

How the Company Makes Money

Stellar AfricaGold generates revenue through the exploration and development of mineral properties, primarily focusing on gold. The company makes money by identifying promising mineral assets, conducting exploration activities to assess the viability of mining operations, and subsequently developing these projects into profitable mines. Revenue streams include the sale of mineral rights, partnerships, or joint ventures with other mining companies that provide capital and expertise for project development. Additionally, as projects advance to production, Stellar AfricaGold can generate income from the sale of extracted gold and other valuable minerals. The company's earnings are influenced by factors such as gold prices, exploration success, and strategic partnerships that enhance its operational capabilities.

Stellar AfricaGold Financial Statement Overview

Summary

Stellar AfricaGold faces significant financial challenges with no revenue and consistent losses. The negative stockholders' equity and unsustainable cash flow patterns highlight potential solvency risks and operational difficulties.

Income Statement

Stellar AfricaGold has struggled with no revenue and consistent losses over the reported periods. The net profit margin is negative, and EBIT and EBITDA margins are also negative due to the absence of revenue and ongoing expenses. This indicates significant challenges in achieving profitability.

Balance Sheet

The balance sheet reveals a concerning financial position, with negative stockholders' equity indicating more liabilities than assets. The equity ratio is negative, and the company has no debt, but the negative equity suggests potential solvency issues. The company's assets have been declining, reflecting potential asset liquidation to cover losses.

Cash Flow

Cash flow analysis shows negative free cash flow and operating cash flow, reflecting operational challenges. The company has relied heavily on financing activities to support its cash position, which may not be sustainable long-term. There is no free cash flow growth, and the cash flow to net income ratios are unfavorable, given the negative income.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	0.00	-75.00K	0.00	0.00
EBITDA	-1.33M	-727.25K	-1.08M	-1.59M	-1.34M
Net Income	-1.33M	-690.00	-1.17M	-1.55M	-1.18M
Balance Sheet
Total Assets	860.55K	209.46K	370.14K	1.39M	2.27M
Cash, Cash Equivalents and Short-Term Investments	773.34K	198.91K	360.78K	737.20K	1.71M
Total Debt	0.00	0.00	0.00	0.00	70.00K
Total Liabilities	348.68K	755.77K	394.89K	263.64K	266.52K
Stockholders Equity	511.87K	-546.31K	-24.75K	1.13M	2.01M
Cash Flow
Free Cash Flow	-1.13M	-73.83K	-760.05K	-1.67M	-1.05M
Operating Cash Flow	-1.13M	-73.83K	-760.05K	-1.67M	-1.05M
Investing Cash Flow	0.00	44.16K	82.14K	71.94K	1.22M
Financing Cash Flow	1.77M	0.00	0.00	621.95K	1.22M

Stellar AfricaGold Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.14
• 50DMA: Negative
• 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:SPX, the sentiment is Positive. The current price of 0.14 is above the 20-day moving average (MA) of 0.14, below the 50-day MA of 0.15, and above the 200-day MA of 0.13, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 49.15 is Neutral, neither overbought nor oversold. The STOCH value of 71.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:SPX.

Stellar AfricaGold 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%
FNX	52 Neutral	C$8.62M	-16.44	-80.25%	―	―	17.98%
VVC	45 Neutral	C$8.59M	-4.41	-5.85%	―	-1.81%	52.11%
SPX	44 Neutral	C$8.75M	-4.22	-68.30%	―	―	51.22%
RG	44 Neutral	C$9.84M	-21.43	64.04%	―	―	46.15%
GAL	44 Neutral	C$75.09M	-4.90	-77.05%	―	―	28.18%
FNAU	43 Neutral	C$8.88M	-20.00	-66.97%	―	―	-47.97%

Stellar AfricaGold Corporate Events

Stellar AfricaGold Drilling at Tichka Est Paused by Severe Weather but Exploration Model Remains Intact

Stellar AfricaGold has reported progress on its diamond drilling campaign at the Tichka Est Gold Project in Morocco, completing eight drill holes totaling 1,311.9 metres as part of a planned 1,500-metre program, with five holes fully assayed and several core samples at or en route to an ISO-certified lab in Marrakech. Operations have been temporarily suspended due to unusually severe rain and snowfall that have damaged access roads and impeded logistics, but the company emphasizes that its structural model and the potential to expand mineralized zones, particularly within and beyond the Zone B corridor, remain strong, and it plans to resume drilling, update geological models, and prioritize targets for the next drill campaign once conditions allow, a trajectory that could materially advance delineation of the project’s mineral potential for stakeholders.

The most recent analyst rating on (TSE:SPX) stock is a Hold with a C$0.12 price target. To see the full list of analyst forecasts on Stellar AfricaGold stock, see the TSE:SPX Stock Forecast page.

Stellar AfricaGold Forms Joint Venture to Advance Zuénoula Gold Project

Stellar AfricaGold Inc. has entered into an Earn-in and Joint Venture Agreement with MetalsGrove Mining Ltd to advance the Zuénoula Gold Project in Côte d’Ivoire. This partnership will see MetalsGrove invest up to US$3 million in exploration expenditures by April 2029, potentially increasing its stake in the project to 80%. This agreement allows Stellar to advance the project without diverting resources from its flagship Tichka Est Gold Project in Morocco, while also reducing financial risk and maintaining significant exposure in Côte d’Ivoire.

Stellar AfricaGold Secures $4 Million for Exploration Projects

Stellar AfricaGold Inc. has successfully closed a non-brokered private placement, raising $4 million through the issuance of 22,222,222 units at C$0.18 per unit. The funds will be used to support ongoing exploration at the Tichka Est Gold Project in Morocco and the Zuénoula gold property in the Ivory Coast, as well as for general corporate purposes. The completion of this financing round is expected to bolster the company’s exploration activities and strengthen its position in the precious metals industry.

Stellar AfricaGold Launches $4 Million Private Placement to Boost Exploration

Stellar AfricaGold Inc. has announced a non-brokered private placement to raise up to C$4 million through the issuance of 22,222,222 units at C$0.18 per unit. The proceeds will be used to finance exploration at the Tichka Est Gold Project in Morocco and the Zuénoula gold property in the Ivory Coast, as well as for general corporate purposes. The offering is expected to close by October 30, 2025, subject to necessary approvals, and insiders may participate under certain exemptions. This strategic move aims to bolster Stellar’s exploration efforts, potentially enhancing its market position in the precious metals industry.