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American Pacific Mining (TSE:USGD)
:USGD

American Pacific Mining (USGD) AI Stock Analysis

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TSE:USGD

American Pacific Mining

(USGD)

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Neutral 48 (OpenAI - 5.2)
Rating:48Neutral
Price Target:
C$0.22
▼(-9.17% Downside)
The score is held down primarily by weak financial performance (no revenue, ongoing cash burn, and poor earnings quality despite recent positive net income). Technicals provide some support with price above key moving averages and positive MACD, but valuation remains a headwind due to a high P/E and no dividend support.
Positive Factors
Balance Sheet Strength
Very low leverage and a meaningful equity base materially reduce financial distress risk and provide durable flexibility to fund near-term exploration or sustain operations. Debt declines from 2024 to TTM lower refinancing pressure, improving resilience over the next several months.
Accounting Profitability Improvement
The reported swing to positive net income and EBITDA in 2024 and TTM signals improving accounting profitability. If these trends persist and move toward operating sources, they could strengthen capital access and strategic options over a multi-month horizon, aiding recovery prospects.
Equity Cushion / Financial Flexibility
A sizable equity base relative to assets provides a durable cushion against losses and supports alternative funding routes without immediate solvency risk. This structural capital position lowers default probability and preserves optionality for financing or M&A over the medium term.
Negative Factors
No Operating Revenue
Absence of any operating revenue is a fundamental weakness: without recurring sales the firm cannot internally fund operating costs or investments. Over months this forces continual external financing, raises dilution risk, and undermines sustainable business model viability.
Persistent Negative Cash Flow
Consistent negative operating and free cash flow indicate ongoing cash burn and inability to self-fund operations. This structurally increases reliance on external capital, heightens liquidity risk, and constrains the company's capacity to execute long-term projects without dilutive or costly financing.
Weak Earnings Quality
Accounting profits driven by non-operating items, while cash flows remain negative, erode earnings reliability. Over a sustained horizon this disconnect risks earnings volatility, investor scepticism, and reduced access to credit unless operating cash conversion improves materially.

American Pacific Mining (USGD) vs. iShares MSCI Canada ETF (EWC)

American Pacific Mining Business Overview & Revenue Model

Company DescriptionAmerican Pacific Mining Corp., a gold exploration company, engages in the exploration and development of mineral properties in the Western United States. The company primarily explores for gold and silver deposits. It owns 100% interest in the Gooseberry project, which consist of 42 unpatented claims covering an area of approximately 708 acres located in Storey Nevada, the United States. The company was incorporated in 2017 and is headquartered in Vancouver, Canada.
How the Company Makes MoneyAmerican Pacific Mining generates revenue primarily through the exploration and development of mining properties, which involves identifying sites with significant mineral deposits. The company makes money by selling these properties to larger mining entities or entering into joint ventures that provide cash flow from the extraction and sale of precious metals like gold and silver. Additionally, strategic partnerships and funding arrangements can contribute to revenue by supporting exploration activities and reducing financial risk. As the company advances its projects from exploration to production, revenue is further driven by the sale of extracted minerals in the global commodities market.

American Pacific Mining Financial Statement Overview

Summary
Financials are high risk: the company reports no revenue across periods, persistent operating losses, and consistently negative operating/free cash flow (including TTM). The balance sheet is a relative strength with low leverage and meaningful equity, but recent positive net income appears non-operating and is not supported by cash generation.
Income Statement
22
Negative
The company reports no revenue across all periods provided, with consistently negative gross profit and large operating losses (EBIT remains deeply negative, including TTM (Trailing-Twelve-Months)). Net income is volatile—losses in 2020–2023, then a sharp swing to positive net income in 2024 and TTM—suggesting earnings are likely driven by non-operating items rather than a recurring operating business. EBITDA also flips from negative in prior years to positive in TTM, but it is not supported by revenue generation, keeping overall earnings quality weak.
Balance Sheet
66
Positive
The balance sheet is a relative strength: leverage is very low in TTM (Trailing-Twelve-Months) with minimal debt versus equity, and equity remains sizable versus total assets. Debt levels have fallen meaningfully from 2024 to TTM, reducing financial risk. The main weakness is profitability consistency—returns on equity were strongly negative in 2020–2023 and only recently turned positive—so the capital base is not yet reliably producing sustainable returns.
Cash Flow
24
Negative
Cash generation is a key concern: operating cash flow and free cash flow are negative in every period shown, including TTM (Trailing-Twelve-Months). Free cash flow in TTM worsened versus 2024 (negative growth), indicating higher cash burn. While reported net income is positive in 2024 and TTM, cash flow remains negative, highlighting a gap between accounting profitability and cash reality and increasing reliance on external funding over time.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue0.000.000.000.000.000.00
Gross Profit-1.10M-36.38K-22.76K-21.52K-2.03K-2.52K
EBITDA3.56M-7.96M-14.33M-10.07M-2.68M-2.57M
Net Income738.44K3.49M-9.07M-10.09M-4.28M-2.43M
Balance Sheet
Total Assets39.92M52.81M41.25M42.96M28.69M11.86M
Cash, Cash Equivalents and Short-Term Investments2.27M12.35M2.86M6.04M15.09M2.39M
Total Debt88.50K2.49M1.22M123.91K0.000.00
Total Liabilities2.06M4.11M2.14M1.02M620.58K149.30K
Stockholders Equity37.87M48.70M39.11M41.94M28.07M11.71M
Cash Flow
Free Cash Flow-8.48M-8.00M-14.67M-8.29M-3.62M-1.80M
Operating Cash Flow-8.36M-7.45M-13.93M-8.06M-2.74M-1.78M
Investing Cash Flow9.27M8.88M-955.05K-703.65K-673.76K-119.86K
Financing Cash Flow-2.37M7.54M11.73M88.05K16.97M2.93M

American Pacific Mining Technical Analysis

Technical Analysis Sentiment
Negative
Last Price0.24
Price Trends
50DMA
0.20
Negative
100DMA
0.21
Negative
200DMA
0.22
Negative
Market Momentum
MACD
<0.01
Positive
RSI
42.51
Neutral
STOCH
19.44
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:USGD, the sentiment is Negative. The current price of 0.24 is above the 20-day moving average (MA) of 0.24, above the 50-day MA of 0.20, and above the 200-day MA of 0.22, indicating a bearish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 42.51 is Neutral, neither overbought nor oversold. The STOCH value of 19.44 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:USGD.

American Pacific Mining Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
55
Neutral
C$49.25M-73.68-7.47%-52.00%
50
Neutral
C$39.29M-3.89-67.80%42.48%
48
Neutral
C$46.01M55.881.86%
48
Neutral
C$36.01M-3.21-44.14%-268.72%
45
Neutral
C$33.56M-5.10-22.31%-70.25%
44
Neutral
C$27.84M-2.54-201.31%-58.16%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:USGD
American Pacific Mining
0.19
-0.01
-5.00%
TSE:BTR
BonTerra Resources
0.18
-0.05
-20.00%
TSE:JG
Japan Gold
0.11
0.03
50.00%
TSE:BAU
Blue Star Gold Corp
0.25
0.20
400.00%
TSE:CANX
CANEX Metals
0.28
0.25
700.00%
TSE:KALO
Kalo Gold Holdings
0.25
0.04
22.50%

American Pacific Mining Corporate Events

Business Operations and Strategy
American Pacific Sees U.S. ‘Project Vault’ Boosting Strategic Value of Madison Copper-Gold Project
Positive
Feb 3, 2026

American Pacific Mining is highlighting the potential strategic importance of its Madison Copper-Gold Project in Montana following the launch of the U.S. government’s US$12 billion “Project Vault” critical minerals reserve, which aims to secure domestic supplies of key metals such as copper and reduce reliance on foreign supply chains, particularly China. Management believes the initiative could catalyze increased public and private investment, improved strategic partnerships and offtake opportunities, and potentially faster permitting for U.S.-based projects, positioning Madison as a prospective future contributor to the American copper supply chain and enhancing the company’s role in supporting the energy transition and advanced manufacturing sectors.

The most recent analyst rating on (TSE:USGD) stock is a Hold with a C$0.20 price target. To see the full list of analyst forecasts on American Pacific Mining stock, see the TSE:USGD Stock Forecast page.

Business Operations and Strategy
American Pacific Sees US ‘Project Vault’ as Catalyst for Madison Copper-Gold Project
Positive
Feb 3, 2026

American Pacific Mining is highlighting how the newly announced US government “Project Vault” strategic critical minerals reserve could enhance the strategic and economic potential of its Madison Copper-Gold Project in Montana. The Trump administration’s US$12 billion initiative aims to build a domestic stockpile of critical minerals such as copper, reduce reliance on foreign supply chains—particularly China—and attract investment into US and allied jurisdictions. Management believes Madison, a high-grade, past-producing copper-gold asset with existing infrastructure in a historic Montana mining district, is well positioned to benefit from potential increases in public and private funding, improved offtake opportunities, and a potentially faster permitting environment, which could elevate the project’s role as a future contributor to the US copper supply chain.

The most recent analyst rating on (TSE:USGD) stock is a Hold with a C$0.20 price target. To see the full list of analyst forecasts on American Pacific Mining stock, see the TSE:USGD Stock Forecast page.

Business Operations and StrategyM&A TransactionsShareholder Meetings
American Pacific Sets Shareholder Vote on Sale of Tuscarora and Danny Boy Projects to ICG
Positive
Jan 27, 2026

American Pacific Mining has mailed its management information circular and proxy materials to shareholders ahead of its annual general and special meeting on February 25, 2026, where investors will vote on a court-approved plan of arrangement with ICG Silver & Gold Ltd. Under the proposed transaction, ICG will acquire 100% of the Tuscarora and Danny Boy projects by purchasing all shares of American Pacific’s subsidiaries that own these assets, in exchange for 11.5 million ICG common shares, of which 7.5 million will be distributed to American Pacific shareholders based on an exchange ratio determined at closing, with the company retaining the balance, and the board unanimously recommending that shareholders vote in favour of the deal, which would both streamline American Pacific’s portfolio and give its investors direct equity exposure to ICG.

The most recent analyst rating on (TSE:USGD) stock is a Hold with a C$0.23 price target. To see the full list of analyst forecasts on American Pacific Mining stock, see the TSE:USGD Stock Forecast page.

Business Operations and StrategyPrivate Placements and Financing
American Pacific Mining Launches $7.5 Million Non-Brokered Financing for Madison Project
Positive
Jan 20, 2026

American Pacific Mining Corp. has launched a non-brokered private placement of up to 34,090,909 units at $0.22 per unit to raise as much as $7.5 million, with each unit comprising one common share and one-half warrant exercisable at $0.32 for three years. The financing, conducted partly under Canada’s listed issuer financing exemption so that certain securities will be freely tradable, will fund exploration and development work at the company’s Madison Copper-Gold Project and other mineral properties as well as general corporate purposes, underscoring its efforts to advance key assets while navigating customary regulatory approvals and leveraging finders such as Eventus Capital Corp. to complete the raise.

The most recent analyst rating on (TSE:USGD) stock is a Hold with a C$0.29 price target. To see the full list of analyst forecasts on American Pacific Mining stock, see the TSE:USGD Stock Forecast page.

Business Operations and StrategyM&A TransactionsShareholder Meetings
American Pacific Advances ICG Spin-Out Deal and Settles Employee Liabilities with Shares
Positive
Jan 12, 2026

American Pacific Mining has outlined terms of its planned arrangement with ICG Silver & Gold Ltd., under which it will sell its Tuscarora and Danny Boy projects in exchange for 11.5 million ICG shares and a contingent US$5 million payment tied to commercial production, distributing 7.5 million of those shares pro rata to existing American Pacific shareholders while retaining 4 million. The company has scheduled a February 18, 2026 shareholder meeting to approve the transaction, expects closing in late February subject to regulatory and court approvals, and has also settled $224,301 in employment-related liabilities by issuing 1,281,722 common shares to former employees, which introduces some equity dilution but removes outstanding obligations from its balance sheet.

The most recent analyst rating on (TSE:USGD) stock is a Hold with a C$0.16 price target. To see the full list of analyst forecasts on American Pacific Mining stock, see the TSE:USGD Stock Forecast page.

Business Operations and StrategyRegulatory Filings and Compliance
American Pacific Updates Technical Report on Nevada Gooseberry Silver-Gold Project
Positive
Jan 6, 2026

American Pacific Mining has filed an updated NI 43-101 technical report for its 100%-owned, past-producing Gooseberry silver-gold project in Storey County, Nevada, a low-sulphidation epithermal vein system that historically operated as an underground mine for nearly a century before closing in 1990. The company is highlighting Gooseberry’s exploration potential amid a more than 160% rise in silver prices since early 2025, pointing to recent drill intercepts with notable gold and silver grades and emphasizing the project’s location within Nevada’s prolific Ramsey Mining District near the historic Comstock camp; management sees Gooseberry as a key vehicle to unlock value and capitalize on growing demand for secure, domestic U.S. silver supply.

The most recent analyst rating on (TSE:USGD) stock is a Hold with a C$0.17 price target. To see the full list of analyst forecasts on American Pacific Mining stock, see the TSE:USGD Stock Forecast page.

Business Operations and StrategyPrivate Placements and Financing
American Pacific to Issue Shares to Settle Liabilities with Former Employees
Neutral
Dec 26, 2025

American Pacific Mining will issue 1,281,722 common shares at a deemed price of $0.175 per share to three former employees in settlement of employment-related liabilities totaling approximately $224,300, with closing expected around January 5, 2026, subject to regulatory approval. The share-based settlement modestly dilutes existing shareholders but allows the company to preserve cash as it advances its portfolio of North American copper, gold and zinc projects, aligning its capital structure with ongoing exploration and transaction-focused growth plans.

Business Operations and StrategyM&A Transactions
American Pacific Mining Sells Tuscarora District to ICG Silver & Gold
Positive
Dec 8, 2025

American Pacific Mining Corp has entered into an arrangement agreement to sell its Tuscarora and Danny Boy projects to ICG Silver & Gold Ltd. This transaction, valued at approximately $4 million in ICG equity, allows American Pacific to focus on its core projects while retaining a significant equity interest in ICG. The sale is expected to unlock value for shareholders by transferring the assets to a dedicated exploration company, ICG, which plans to rapidly advance the development of the Tuscarora District. The transaction positions American Pacific shareholders to benefit from both immediate and long-term value, as precious metal prices reach new highs.

Business Operations and StrategyM&A Transactions
American Pacific Sells Palmer Project to Vizsla Copper for $15 Million
Positive
Dec 5, 2025

American Pacific Mining Corp. has completed the sale of its Palmer Copper-Zinc VMS Project in Alaska to Vizsla Copper Corp. for $15 million in equity, with potential milestone payments of up to $15 million. This transaction provides American Pacific with a significant equity stake in Vizsla Copper, allowing them to benefit from future exploration successes at the Palmer Project. The company aims to focus on its Madison Copper-Gold project in Montana while holding the Vizsla Copper shares for investment purposes.

Business Operations and Strategy
American Pacific Mining Expands Strategic Land Holdings at Madison Project
Positive
Nov 20, 2025

American Pacific Mining Corp. has strategically staked nine new claims at its Madison Copper-Gold Project in Montana, securing valuable land control rights adjacent to historic mines. This move positions the company for potential discovery and mineralization extension in an area previously inaccessible to modern exploration, enhancing its prospects for significant findings in the region.

Business Operations and Strategy
American Pacific Expands Strategic Claims at Madison Project
Positive
Nov 20, 2025

American Pacific Mining Corp. has strategically amended and staked nine new claims at its Madison Copper-Gold Project in Montana, securing valuable land control rights adjacent to historic mines. This move positions the company for potential discoveries and mineralization extensions in a region previously inaccessible to modern exploration, enhancing its prospects in the base and precious metals industry.

Business Operations and StrategyM&A Transactions
American Pacific Sells Palmer Project to Vizsla Copper for $15 Million
Positive
Nov 13, 2025

American Pacific Mining Corp. has announced the sale of its Palmer Copper-Zinc VMS Project in southeast Alaska to Vizsla Copper Corp. for $15 million in equity, with potential additional milestone payments of up to $15 million. This strategic move aligns with American Pacific’s focus on maximizing shareholder value and positions Vizsla Copper to advance the project with its experienced leadership team. The acquisition is expected to enhance Vizsla’s standing as a leading North American critical minerals explorer, emphasizing the importance of sustainable operations and collaboration with local communities.

Business Operations and Strategy
Copper’s Inclusion in US Critical Minerals List Boosts American Pacific Mining
Positive
Nov 6, 2025

The addition of copper to the U.S. Geological Survey’s 2025 list of critical minerals is a significant development for American Pacific Mining Corp., as it highlights increased governmental support for domestic copper projects. This move is expected to enhance investment and streamline the permitting process for U.S.-based copper projects, potentially benefiting American Pacific’s Madison and Palmer projects. The inclusion of copper in the critical minerals list underscores the U.S. government’s focus on strengthening domestic supply chains, which could lead to increased funding and investment opportunities for American Pacific Mining, thereby advancing their high-quality copper assets.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jan 22, 2026