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Temas Resources
(TMAS)
Temas Resources (TMAS) vs. iShares MSCI Canada ETF (EWC)
Temas Resources Business Overview & Revenue Model
Temas Resources Financial Statement Overview
| Breakdown | Dec 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 0.00 | -63.13K | -52.61K |
| EBITDA | -5.54M | -1.75M | -2.22M | -3.64M | -3.51M |
| Net Income | -5.92M | -1.75M | -2.23M | -4.34M | -3.72M |
Balance Sheet | |||||
| Total Assets | 12.25M | 6.73M | 6.79M | 8.79M | 11.51M |
| Cash, Cash Equivalents and Short-Term Investments | 4.70M | 76.56K | 271.24K | 789.50K | 2.01M |
| Total Debt | 0.00 | 0.00 | 96.41K | 0.00 | 0.00 |
| Total Liabilities | 1.69M | 1.51M | 1.95M | 1.65M | 675.68K |
| Stockholders Equity | 10.56M | 5.23M | 4.84M | 7.14M | 10.84M |
Cash Flow | |||||
| Free Cash Flow | -5.61M | -1.97M | -1.24K | -2.41M | -2.19M |
| Operating Cash Flow | -5.61M | -1.97M | -1.22K | -2.28M | -1.84M |
| Investing Cash Flow | -781.08K | -86.91K | -34.00 | -149.45K | -1.08M |
| Financing Cash Flow | 11.02M | 1.86M | 732.00K | 1.21M | 1.55M |
Temas Resources Technical Analysis
Temas Resources Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
50 Neutral | C$6.77M | -34.40 | ― | ― | ― | 14.29% | |
45 Neutral | C$6.87M | -1.79 | -95.96% | ― | ― | 65.30% | |
45 Neutral | C$3.82M | -21.03 | -8.37% | ― | ― | 38.78% | |
43 Neutral | C$10.78M | -11.99 | -5.30% | ― | ― | ― | |
42 Neutral | C$5.85M | -1.17 | -34.89% | ― | ― | 44.75% |
Temas Resources Corporate Events
Temas Resources has reported assay results from a nine-hole HQ diamond drilling program completed in late 2025 at its La Blache Project in Quebec, confirming thick, high-grade massive oxide zones containing consistent gallium, scandium and chromium alongside vanadium, titanium and iron. Several holes extended mineralisation up to 150 metres west of historical drilling and toward surface, suggesting potential for a larger and more economically attractive resource.
The company aims to upgrade its current foreign inferred resource to JORC-compliant measured and indicated categories and incorporate the newly confirmed critical metals into an updated resource and economic assessment. Temas believes its RCL technology is well suited to recover the accessory gallium, scandium and chromium with the main metals, while a new fused bead assay protocol is yielding higher reported values and is now being applied to historic core, potentially enhancing the overall metal inventory at La Blache.
The most recent analyst rating on (TSE:TMAS) stock is a Sell with a C$0.21 price target. To see the full list of analyst forecasts on Temas Resources stock, see the TSE:TMAS Stock Forecast page.
Temas Resources has begun vanadium extraction testwork at its La Blache project using its proprietary Regenerative Chloride Leach technology, marking the first application of this platform to the asset. The company is re-assaying up to 36,614 metres of historic drill core and hundreds of recent samples via fusion-based methods, which early results suggest could reveal 10–60% higher metal values than previously reported.
Management says the re-assaying strategy could materially shorten development timelines by reducing the need for additional drilling and provide a more accurate picture of grade distribution. Temas also plans follow-on RCL testwork for gallium, scandium and chromium, positioning La Blache as a multi-critical-metal development project and potentially enhancing the value of both the deposit and the RCL technology platform for stakeholders.
The most recent analyst rating on (TSE:TMAS) stock is a Sell with a C$0.21 price target. To see the full list of analyst forecasts on Temas Resources stock, see the TSE:TMAS Stock Forecast page.
Temas Resources has launched a major re-assay program on 36,614 metres of historic drill core from its La Blache deposits in Quebec, seeking to quantify additional pay metals such as gallium, scandium and chromium alongside iron, titanium and vanadium. By reusing existing core rather than commissioning new drilling, the company expects to avoid about $40 million in future drilling costs and cut several years from its development timeline.
Re-logging is complete and samples are now being shipped to ALS Labs in Quebec, with results to be released progressively and used to update the La Blache mineral resource and scoping-level economic studies. Management expects the work to add around 30 million tonnes of measured and indicated TiO2 resources and incorporate new critical metals into a restated study under JORC, supporting Temas’ strategy to validate and commercialise its patented RCL technology and potentially strengthen the project’s value proposition for shareholders.
The most recent analyst rating on (TSE:TMAS) stock is a Sell with a C$0.21 price target. To see the full list of analyst forecasts on Temas Resources stock, see the TSE:TMAS Stock Forecast page.
Temas Resources has signed a Letter of Intent with private mineral developer 1542642 B.C. Ltd. to test its patented Regenerative Chloride Leach processing technology on ore from the Developer’s Revel Ridge polymetallic gold-silver project in Western North America. The RCL platform, protected by 11 granted process patents, is designed to handle complex and low-quality feedstocks at lower temperatures and atmospheric pressure, using closed-loop reagent recycling to cut operating costs and reduce environmental impact.
Under the LOI, the Developer will fully fund bench-scale and pilot-scale test work, providing capital-efficient, third-party validation of RCL on a high-grade refractory gold system. Successful results could lead to a Temas-controlled joint venture, with an indicative 80/20 split in Temas’ favour, to commercialize and deploy RCL across refractory gold and tailings opportunities in Western North America, targeting a sizeable segment of global gold resources hosted in refractory deposits.
Temas is positioning RCL as a scalable solution for improving metal recoveries, reducing tailings liabilities and supporting permitting outcomes for complex ore projects. The company is also in confidential discussions with multiple parties on additional RCL trials, aiming to broaden regional deployment and licensing of the technology and strengthen its role in the evolving market for cleaner, more efficient metal extraction.
The most recent analyst rating on (TSE:TMAS) stock is a Hold with a C$0.22 price target. To see the full list of analyst forecasts on Temas Resources stock, see the TSE:TMAS Stock Forecast page.
Temas Resources has reported significant progress in commercializing its patented Regenerative Chloride Leach (RCL) metallurgical platform, confirming that pilot-scale testing can produce commercial-grade titanium dioxide (TiO2) with ultra-low impurities while recovering multiple metals and sharply reducing processing costs. Using material from its La Blache titanium-vanadium project in Quebec, the RCL process produced 88 kilograms of 99.8% TiO2 powder from 830 kilograms of ore, achieved 80–85% titanium and about 95% iron recovery, and demonstrated more than 65% cost reductions versus conventional TiO2 processing through co-product capture, closed-loop reagent recycling, simplified flowsheets and lower energy intensity. The company plans further metallurgical work, including on iron oxide products and overlooked metals such as gallium and scandium, and is positioning RCL as a scalable, commodity-agnostic platform being evaluated by multiple mining companies, opening a pathway for licensing, joint ventures and enhanced project economics across Temas’s own resource portfolio.
The most recent analyst rating on (TSE:TMAS) stock is a Hold with a C$0.26 price target. To see the full list of analyst forecasts on Temas Resources stock, see the TSE:TMAS Stock Forecast page.
Temas Resources has strengthened its board and executive structure with the appointment of Australian-based resources executive Maurice (Nic) Matich as a Non-Executive Director, tasked with leading investor relations, business development and stakeholder engagement to support the company’s global growth and commercialisation plans. Concurrently, Chief Financial Officer David Robinson is stepping down from the board to focus fully on his executive role, a move the company says will sharpen governance, reinforce financial discipline and execution, and better position Temas as it advances its RCL technology and critical minerals assets for value creation.
The most recent analyst rating on (TSE:TMAS) stock is a Sell with a C$0.22 price target. To see the full list of analyst forecasts on Temas Resources stock, see the TSE:TMAS Stock Forecast page.
Temas Resources has strengthened its strategic positioning by joining Québec’s CSM Scientific Network, a metal transformation and critical minerals consortium under CRITM that includes major industry players and research institutions, which is expected to enhance its access to scientific collaboration, specialized equipment and expert advisory networks. In parallel, the company has engaged Independent Trading Group to act as a market maker on the Canadian Securities Exchange to support liquidity and price discovery in its shares, and has appointed Pitt Street Research to commence independent equity research coverage from January 2026, together aimed at improving Temas’ capital markets profile, trading efficiency and investor visibility.
The most recent analyst rating on (TSE:TMAS) stock is a Hold with a C$0.18 price target. To see the full list of analyst forecasts on Temas Resources stock, see the TSE:TMAS Stock Forecast page.
Temas Resources has completed a high-resolution airborne LiDAR survey covering approximately 46 km² at its La Blache and Lac Brule projects in Québec, delivering engineering-grade topographic and structural data to underpin future resource modelling, infrastructure layouts, and environmental baseline work. The new dataset, which significantly upgrades spatial accuracy versus legacy government models, will be integrated with recent and historic drilling to refine geological and engineering studies, support feasibility-level planning, and accelerate future drilling and field programs, while re-assay campaigns for gallium, scandium and other rare earth elements and tests of its Regenerative Chloride Leach technology are slated for early 2026, potentially enhancing the projects’ critical metals profile and cost competitiveness.