St-Georges Platinum and Base Metals (SX) AI Stock Analysis

• Market Cap: C$18.69M
• Dividend Yield: N/A
• Average Volume (3M): 270.22K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.45
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 311,451,300
• 10 Day Avg. Volume: 402,943
• 30 Day Avg. Volume: 270,221
• PEG Ratio: 0.03
• Price to Book (P/B): 1.01
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -26.57
• 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$0.07 ▲(32.00% Upside)

The score is held back primarily by weak financial performance (no revenue, ongoing losses, and negative free cash flow), partially offset by modest leverage and recently positive operating cash flow. Technicals are moderately constructive with price above major moving averages and positive MACD, while valuation remains challenged due to a negative P/E and no dividend support.

St-Georges Platinum and Base Metals Business Overview & Revenue Model

Company Description

St-Georges Eco-Mining Corp. develops new technologies to solve common environmental problems in the mining sector, including maximizing metal recovery and full-circle battery recycling. The company explores for nickel and PGEs on the Manicouagan and Julie Projects on Quebec's North Shore and has multiple exploration projects in Iceland, including the Thor Gold Project. The company was incorporated in 2002 and is headquartered in Montreal, Canada.

How the Company Makes Money

St-Georges Platinum and Base Metals Financial Statement Overview

Summary

Fundamentals are weak due to no reported revenue, persistent operating losses (TTM net loss ~-$2.36M), and negative free cash flow (TTM ~-$0.93M). Positives include modest leverage (TTM debt-to-equity ~0.08) and a recent shift to positive operating cash flow (TTM ~+$0.67M), but profitability and self-funding remain uncertain.

Income Statement

The company reports no revenue across the disclosed periods, while operating losses remain persistent. TTM (Trailing-Twelve-Months) net loss was about -$2.36M with negative gross profit and negative EBIT/EBITDA, indicating the cost base is not supported by operating inflows. While the annual net result improved versus 2025 (annual net loss of about -$3.84M) compared with a profit in 2024, earnings have been volatile and largely loss-making overall, limiting visibility into sustainable profitability.

Balance Sheet

Leverage is currently modest with low debt relative to equity (TTM debt-to-equity ~0.08; 2025 annual ~0.10), which provides balance-sheet flexibility. Total assets have stayed fairly stable, and equity remains sizable in recent years. The key weakness is weak returns on equity driven by losses (TTM return on equity about -10%), meaning the capital base is not generating positive earnings and could erode if losses persist.

Cash Flow

Cash generation is mixed: TTM (Trailing-Twelve-Months) operating cash flow was positive (~$0.67M), a notable improvement from several prior annual periods with negative operating cash flow (e.g., 2024 and 2023). However, free cash flow remains negative (TTM about -$0.93M; 2025 annual about -$0.86M), implying ongoing cash burn after investments. Free cash flow has also been volatile, and the company is not consistently funding itself through internally generated cash.

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	-480.17K	-440.30K	-249.66K	0.00	0.00	0.00
EBITDA	-1.47M	-2.57M	-4.38M	-4.09M	-10.04M	-3.87M
Net Income	-2.36M	-3.84M	3.32M	-1.96M	-7.22M	-14.10M
Balance Sheet
Total Assets	29.51M	29.50M	28.06M	26.44M	21.42M	4.62M
Cash, Cash Equivalents and Short-Term Investments	1.50M	1.31M	1.78M	1.83M	4.12M	538.62K
Total Debt	1.76M	2.18M	1.40M	5.92M	10.11M	8.39M
Total Liabilities	6.87M	6.84M	3.61M	10.67M	12.83M	10.79M
Stockholders Equity	22.64M	22.66M	24.45M	27.77M	21.77M	20.33K
Cash Flow
Free Cash Flow	-934.19K	-863.72K	-6.33M	-6.95M	-8.77M	-2.18M
Operating Cash Flow	665.41K	801.31K	-2.84M	-2.34M	-8.77M	-2.17M
Investing Cash Flow	-2.06M	-2.01M	-2.35M	-5.09M	-10.96M	121.30K
Financing Cash Flow	1.57M	1.88M	3.84M	5.02M	24.99M	2.00M

St-Georges Platinum and Base Metals 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%
SX	52 Neutral	C$18.69M	-7.50	-9.69%	―	―	―
LLG	50 Neutral	C$16.08M	0.84	45.75%	―	―	158.45%
SRA	49 Neutral	C$23.65M	-72.29	16.97%	―	―	―
STE	48 Neutral	C$26.54M	-24.60	-6.76%	―	―	78.16%
PSE	47 Neutral	C$23.55M	-4.71	-184.63%	―	―	-269.70%
GGI	46 Neutral	C$22.81M	-0.73	-110.71%	―	―	-2850.00%

St-Georges Platinum and Base Metals Corporate Events

St-Georges Eco-Mining Corp. Reports on 2025 AGM and Strategic Commitments

St-Georges Eco-Mining Corp. held its 2025 Annual General Meeting of Shareholders, where 34.77% of the total outstanding shares were represented. The company acknowledged shareholder dissent and emphasized its commitment to ongoing operational changes, particularly in battery recycling and processing. Despite challenges in the emerging sector, St-Georges remains committed to its original vision and long-term value creation, aligning management compensation with shareholder interests.

EVSX Corp. Enhances Battery Processing Operations with Strategic Upgrades

St-Georges Eco-Mining Corp.’s subsidiary, EVSX Corp., has provided a corporate update on its battery processing operations in Thorold, Ontario. The company is focused on enhancing operational efficiency and scalability, having implemented significant upgrades to its multi-chemistry battery processing line. These improvements aim to reduce downtime and operating costs, with a tenfold increase in throughput achieved through new equipment and structural modifications. Despite challenges in attracting qualified talent, EVSX has secured a committed team and maintains strong partnerships, including a three-year battery supply contract with Call2Recycle. The plant is fully compliant with zoning and environmental regulations, and operations are set to ramp up with a full inventory ready for processing.

St-Georges Eco-Mining Reports First Revenues from Battery Processing and Improved Financial Results

St-Georges Eco-Mining Corp. reported improved financial results for the six months ending September 30, 2025, with a net income of $56,346 compared to a net loss in the same period in 2024. The company’s subsidiary, EVSX Corp., generated its first-ever revenues from battery processing operations, marking a significant milestone. The Thorold facility in Ontario, which includes a multi-chemistry processing line, contributed $55,873 in revenue, supported by partnerships like Call2Recycle. Additionally, St-Georges Metallurgy Corp. recorded revenues from the sale of residual materials, and a new high-grade nickel-copper-PGE target was identified at the Manicouagan Project. These developments indicate a positive trajectory for the company, enhancing its industry positioning and potential stakeholder benefits.

St-Georges Eco-Mining Corp. Reports Revenue Milestone and New Discovery

St-Georges Eco-Mining Corp. has achieved two significant milestones: its subsidiary, St-Georges Metallurgy Corp., recorded its first revenue, and a new high-grade nickel-copper-PGE target zone was identified at the Manicouagan Project in Québec. These developments highlight the company’s strategic focus on critical-materials exploration and revenue generation. The discovery of the ‘South-East Manic Zone’ with promising mineralization results suggests potential expansion of the project’s resource base, enhancing the company’s industry positioning and offering promising implications for stakeholders.

St-Georges Confirms High-Grade Nickel and PGE Mineralization at Julie Project

St-Georges Eco-Mining Corp. has announced successful results from its September 2025 surface exploration program at the Julie Nickel-Copper-Cobalt-PGE Project in Québec. The program confirmed high-grade nickel and widespread PGE mineralization, marking a significant milestone for the project. A new mineralized zone, the Vincent Showing, was discovered, characterized by high-grade iron and associated PGEs, which supports the company’s geological model and expands the project’s potential. This development provides exciting targets for the next exploration phase, potentially enhancing the company’s industry positioning and offering promising implications for stakeholders.