Callinex Mines (VCG) AI Stock Analysis

• Market Cap: C$15.72M
• Dividend Yield: N/A
• Average Volume (3M): 15.25K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.13
• Revenue Growth: N/A
• EPS Growth: 22.59%
• Country: CA
• Employees: 2
• Sector: General
• Sector Strength: N/A
• Industry: Industrial Materials
• EPS (TTM): N/A
• Shares Outstanding: 22,458,536
• 10 Day Avg. Volume: 12,621
• 30 Day Avg. Volume: 15,249
• PEG Ratio: 0.97
• Price to Book (P/B): 0.34
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -78.15
• 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: 48 Neutral
• Price Target: C$0.69 ▲(13.61% Upside)

The score is held down primarily by weak operating fundamentals (no revenue, ongoing losses) and continued negative cash flow, even with improving burn. A strong, low-debt balance sheet provides some support, while technical indicators are mostly neutral and valuation is constrained by a negative P/E and no dividend yield.

Positive Factors

Low leverage / strong balance sheet

Extremely low debt and a sizable equity base materially lower solvency risk and preserve financial optionality. For an exploration issuer this durable capital structure supports ongoing programs, reduces near-term refinancing pressure, and improves ability to negotiate joint ventures or asset sales.

Improving cash burn and FCF

Marked reduction in cash burn and materially improved free cash flow provide a longer runway and reduce immediate financing needs. This trend, if sustained, strengthens negotiating leverage on farm-outs and limits dilution risk, improving the company’s ability to advance exploration programs.

Growing asset base

A meaningful increase in total assets reflects capital deployed into exploration and project advancement, which can de-risk targets and raise asset value over time. Stronger asset metrics support future transactions, JV deals, or farm-outs that drive long-term value realization.

Negative Factors

No operating revenue

Being an exploration-stage company with no operating revenue leaves fundamental valuation and earnings visibility absent. Long-term sustainability therefore depends on continued external capital, asset monetization or successful resource conversion, increasing execution and financing risk.

Persistent negative operating cash flow

Consistent negative operating cash flow implies ongoing reliance on existing liquidity or new financing to fund exploration. Over months this increases dilution or creditor dependence risk and constrains the company’s ability to scale programs without transactional funding sources.

Structural unprofitability despite improvements

Although net losses narrowed, the company remains unprofitable with negative returns on equity. Until resources are proven or a monetization event occurs, sustained losses limit free cash generation and shareholder returns, posing long-term financing and value-creation challenges.

Callinex Mines Business Overview & Revenue Model

Company Description

Visionary Copper and Gold Mines Inc. engages in the acquisition, exploration, and development of mineral properties in Canada. The company explores for copper, zinc, gold, lead, silver, and and critical metal deposits. The company was formerly known as Callinex Mines Inc. and changed its name to Visionary Copper and Gold Mines Inc. in August 2025. Visionary Copper and Gold Mines Inc. was incorporated in 2011 and is headquartered in Vancouver, Canada.

How the Company Makes Money

Callinex Mines makes money primarily through the discovery and development of mineral resources, which can be monetized by selling or partnering on viable projects with larger mining companies. The company's revenue model involves advancing exploration efforts to increase the attractiveness and value of its asset portfolio, with the potential to sell or joint venture these properties at a premium as resources are proven viable. Key revenue streams include proceeds from asset sales, option agreements, and potential future royalties or production-based payments if mining operations commence. Strategic partnerships with larger mining entities or financial investors can also provide funding and enhance the development potential of Callinex's projects.

Callinex Mines Financial Statement Overview

Summary

Financials are mixed but skew weak: the balance sheet is strong with minimal debt versus a large equity base, reducing solvency risk. However, the income statement shows no revenue and recurring losses (despite narrowing), and cash flow remains negative with ongoing operating cash burn even though 2025 burn improved versus 2024.

Income Statement

The income statement remains weak: the company reports zero revenue across the period, with persistently negative gross profit and operating results. Losses have improved versus 2023 (net loss narrowed in 2024 and again in 2025), but profitability is still structurally negative and not supported by an operating revenue base, which limits near-term earnings visibility.

Balance Sheet

The balance sheet is a relative strength. Total debt is minimal (roughly $40K in 2024–2025) versus a large equity base (~$39–$40M), resulting in extremely low leverage. Total assets increased meaningfully in 2025 versus 2024, and while returns on equity are negative due to ongoing losses, the capital structure provides flexibility and lowers solvency risk.

Cash Flow

Cash flow is pressured but showing improvement recently. Operating cash flow is negative in every year shown, indicating ongoing cash burn; however, the cash burn reduced sharply in 2025 versus 2024, and free cash flow also improved materially (less negative). A key risk is that free cash flow declined significantly from 2024 to 2025 on a growth basis, and sustained negative free cash flow implies continued reliance on existing capital/liquidity over time.

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	-14.43K	-19.31K	-22.25K	-64.29K	-65.83K	-69.12K
EBITDA	-975.97K	-976.31K	-1.52M	-697.00K	1.66M	-811.14K
Net Income	-918.03K	-917.89K	-1.00M	-1.28M	41.05K	-1.15M
Balance Sheet
Total Assets	49.81M	49.81M	43.74M	42.10M	35.65M	30.41M
Cash, Cash Equivalents and Short-Term Investments	53.53K	53.53K	1.40M	2.15M	994.54K	2.81M
Total Debt	40.00K	40.00K	40.00K	45.21K	101.48K	147.45K
Total Liabilities	10.08M	10.08M	3.71M	3.24M	2.55M	1.98M
Stockholders Equity	39.73M	39.73M	40.03M	38.86M	33.11M	28.44M
Cash Flow
Free Cash Flow	-1.46M	-173.25K	-3.36M	-8.00M	-8.72M	-7.17M
Operating Cash Flow	-167.67K	-167.67K	-1.46M	-2.08M	-1.47M	-1.59M
Investing Cash Flow	-1.18M	-1.18M	-1.52M	-5.68M	-6.25M	-5.29M
Financing Cash Flow	0.00	0.00	2.23M	8.91M	5.90M	9.01M

Callinex Mines Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.61
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:VCG, the sentiment is Negative. The current price of 0.61 is below the 20-day moving average (MA) of 0.69, below the 50-day MA of 0.69, and below the 200-day MA of 0.72, indicating a neutral trend. The MACD of 0.02 indicates Negative momentum. The RSI at 50.59 is Neutral, neither overbought nor oversold. The STOCH value of 65.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:VCG.

Callinex Mines Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
SRA	49 Neutral	C$23.65M	-72.29	16.97%	―	―	―
VCG	48 Neutral	C$15.72M	-14.55	-2.38%	―	―	22.59%
PNRG	48 Neutral	C$29.80M	-20.93	-126.48%	―	―	―
STGX	48 Neutral	C$12.32M	-15.79	6.30%	―	―	70.90%
ABR	39 Underperform	C$27.36M	40.28	5.28%	―	―	―
TTX	26 Underperform	C$13.18M	-1.30	―	―	―	―

Callinex Mines Corporate Events

Visionary Copper and Gold Mines Ramps Up Exploration at Pt. Leamington as Permitting Advances in Manitoba

Visionary Copper and Gold Mines has launched the first phase of an exploration drilling campaign at its Pt. Leamington deposit in Newfoundland, targeting near-surface copper-, zinc-, gold- and silver-rich zones to expand and upgrade an already substantial NI 43-101 mineral resource. Alongside this, the company is implementing mineralogical and metallurgical testing to optimize metal recoveries, with the goal of updating the resource estimate and advancing to a Preliminary Economic Assessment, while continuing permitting and community engagement work in Manitoba to move its Rainbow and Pine Bay copper projects toward advanced exploration and eventual production, positioning the company to benefit from tight copper markets and strong gold demand.

Visionary Copper and Gold Raises $3.04 Million and Settles Debt with Shares

Visionary Copper and Gold Mines Inc. has closed the second and final tranche of its non-brokered private placement, raising a total of approximately $3.04 million through the issuance of charity flow-through units and Manitoba charity flow-through units, each comprising one flow-through share and half a warrant exercisable at C$1.10 for two years, with an acceleration feature tied to trading performance. The proceeds will fund qualifying Canadian exploration expenditures at the Point Leamington Project in Newfoundland, while the company also moved to strengthen its balance sheet by settling $584,532 of debt with 446,043 common shares, subject to TSX Venture Exchange approval, a combination that bolsters both its exploration budget and capital structure as it advances its key polymetallic assets.

Visionary Copper and Gold Mines Secures $1.2 Million in Private Placement

Visionary Copper and Gold Mines Inc. has successfully closed the first tranche of its non-brokered private placement, raising over $1.2 million through the issuance of hard dollar units. The proceeds will be used for working capital and corporate purposes, while the flow-through offering aims to raise additional funds for exploration expenses related to the Pt. Leamington Project. The company’s strategic moves in financing are expected to bolster its operations and enhance its positioning within the mining industry.