Alaska Silver Corp (WAM) AI Stock Analysis

• Market Cap: C$70.75M
• Dividend Yield: N/A
• Average Volume (3M): 403.84K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.28
• Revenue Growth: N/A
• EPS Growth: 11.03%
• Country: CA
• Employees: 12
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Other Precious Metals
• EPS (TTM): -0.01
• Shares Outstanding: 65,898,674
• 10 Day Avg. Volume: 835,455
• 30 Day Avg. Volume: 403,837
• PEG Ratio: 0.08
• Price to Book (P/B): 0.38
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -5.54
• 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: 54 Neutral
• Price Target: C$1.00 ▼(-23.08% Downside)

The score is held back primarily by weak financial performance (no revenue, widening losses, and ongoing cash burn) and limited valuation support (negative P/E, no dividend). Offsetting factors include constructive price momentum (price above key moving averages with positive MACD) and generally positive corporate developments tied to exploration progress and improved near-term financing flexibility.

Positive Factors

Near-term liquidity from financing

A committed US$12M offering materially extends the company's runway and funds exploration programs while enabling debt repayment. This reduces immediate refinancing pressure, allowing management to advance projects and de-risk assets over the medium term without urgent liquidity stress.

Exploration progress and new high-grade discovery

Discovery of a new high-grade Silver Sage zone and a completed 2025 exploration program strengthen the company's asset base. Successful exploration increases long-term resource optionality, raises project monetization potential, and materially de-risks future development and permitting timelines.

Modest leverage relative to peers

Reported debt-to-equity near 0.07–0.11 indicates low financial leverage for a pre-revenue explorer. Lower interest burden and limited secured debt enhance financial flexibility, reduce bankruptcy risk, and improve the company's ability to pursue capital-intensive exploration cycles without excessive fixed obligations.

Negative Factors

Pre-revenue with widening losses

The company remains pre-revenue and reported a materially wider TTM net loss, indicating structural unprofitability. Persistent losses erode equity and mean the business cannot self-fund exploration or development, increasing dependency on external capital and shareholder dilution risk over time.

Consistent negative cash flow and burn

Sustained negative operating cash flow and free cash flow signal structural cash burn that depletes reserves. Without operating cash generation, the company must repeatedly access markets or lenders, heightening dilution and refinancing risk and constraining long-term project funding autonomy.

Sharp erosion of assets and equity

A marked decline in assets and equity alongside rising total debt materially reduces the balance-sheet cushion. This deterioration limits the company's ability to absorb exploration setbacks, raises creditor and investor concerns, and increases the likelihood of dilutive financings or onerous refinancing terms.

Alaska Silver Corp Business Overview & Revenue Model

Company Description

Alaska Silver Corp. engages in the business of mineral exploration. Its properties include Round Top, Illinois Creek Mine, and Honker. The company was founded by Christopher Marrs on April 8, 2020 and is headquartered in Tucson, AZ.

How the Company Makes Money

Western Alaska Minerals Corp generates revenue primarily through the exploration and potential sale or joint venture of its mineral properties. The company invests in identifying and developing mineral-rich sites, which can be sold or partnered with larger mining companies. Revenue streams may include the outright sale of mining rights, royalty agreements, and joint ventures wherein WAM retains a stake in the project. Additionally, strategic partnerships can provide funding and resource sharing, enhancing the company's ability to explore and develop its projects. The value of the company's properties and potential earnings is heavily influenced by global commodity prices, exploration success, and the ability to secure investment or partnerships.

Alaska Silver Corp Financial Statement Overview

Summary

Pre-revenue with widening losses (TTM net loss ~$6.0M vs. ~$3.3M in 2024) and consistently negative operating results. Cash burn remains meaningful (TTM operating cash flow about -$3.1M; negative free cash flow), implying reliance on external funding. Low debt-to-equity is a partial offset, but the sharp drop in assets/equity and higher total debt in TTM increase financing flexibility risk.

Income Statement

Across the period (including 2025-09-30 TTM (Trailing-Twelve-Months)), the company reports no revenue, while losses have widened meaningfully in TTM (net loss of about $6.0M vs. about $3.3M in 2024). With negative gross profit in TTM and consistently negative operating results (EBIT/EBITDA), profitability remains weak and the business appears dependent on external funding rather than internally generated earnings.

Balance Sheet

Leverage is modest based on reported debt-to-equity (roughly ~0.07–0.11 in 2022–2025 TTM), which is a strength for a pre-revenue explorer. However, balance-sheet size and equity have declined sharply (assets down from ~$35.4M in 2024 to ~$12.0M in 2025 TTM; equity down from ~$32.2M to ~$3.2M), while total debt increased to ~$4.3M in TTM, raising dilution/refinancing risk if losses continue.

Cash Flow

Cash burn remains significant: operating cash flow is negative in each reported period (about -$3.1M in 2025 TTM vs. -$2.2M in 2024), and free cash flow is also negative (about -$3.1M in TTM). While free cash flow improved versus 2024 (positive growth rate reported), cash generation is still structurally negative and does not support self-funding without additional capital.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-178.00	0.00	0.00	-1.20K	0.00	0.00
EBITDA	-4.21M	-3.21M	-4.17M	-3.23M	-2.65M	―
Net Income	-5.48M	-3.31M	―	-2.55M	―	―
Balance Sheet
Total Assets	8.63M	35.37M	32.08M	27.72M	13.26M	8.89M
Cash, Cash Equivalents and Short-Term Investments	567.98K	849.57K	1.19M	3.84M	1.49M	52.18K
Total Debt	3.09M	2.36M	2.82M	2.70M	2.51M	24.30K
Total Liabilities	6.33M	3.17M	3.76M	3.36M	2.78M	32.26K
Stockholders Equity	2.30M	32.21M	28.32M	24.36M	10.48M	-32.26K
Cash Flow
Free Cash Flow	-2.73M	-2.21M	-3.63M	-2.17M	-791.79K	-63.66K
Operating Cash Flow	-2.73M	-2.21M	-2.27M	-1.62M	-791.79K	-63.66K
Investing Cash Flow	-729.13K	-3.75M	-6.71M	-8.79M	-2.59M	-1.00M
Financing Cash Flow	2.12M	5.64M	6.21M	12.60M	4.89M	676.29K

Alaska Silver Corp Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.30
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:WAM, the sentiment is Negative. The current price of 1.3 is above the 20-day moving average (MA) of 1.23, above the 50-day MA of 1.15, and above the 200-day MA of 0.98, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 41.78 is Neutral, neither overbought nor oversold. The STOCH value of 34.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:WAM.

Alaska Silver Corp 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%
SSV	58 Neutral	C$333.05M	-34.17	-19.63%	―	―	-34.83%
WAM	54 Neutral	C$70.75M	-6.77	-33.56%	―	―	11.03%
SLVR	53 Neutral	C$519.13M	-91.89	-4.86%	―	―	-14.43%
PNTR	49 Neutral	C$46.67M	-35.35	-72.41%	―	―	-14.77%
BRC	47 Neutral	C$520.73M	-18.36	-151.33%	―	―	-198.87%

Alaska Silver Corp Corporate Events

Alaska Silver Nearly Doubles Inferred Resources at Illinois Creek in Bullish Metals Market

Alaska Silver Corp has released an updated mineral resource estimate for the Illinois Creek gold-silver deposit in Western Alaska, showing Indicated resources of 9.0 million tonnes grading 0.92 grams per tonne gold and 29.72 grams per tonne silver, and Inferred resources of 10.9 million tonnes grading 0.84 grams per tonne gold and 30.1 grams per tonne silver. The revision, based on a 2021 block model and updated for a stronger gold and silver price environment, translates into an 11% increase in Indicated gold ounces, a 7% rise in Indicated silver ounces and nearly double the Inferred gold and silver ounces, all constrained within an open-pit shell using higher assumed metal prices. Management emphasizes that the oxide nature of the Illinois Creek mineralization, which remains open along strike and at depth and is amenable to heap leach extraction, positions the deposit as a potentially low-cost operation that could be developed as a standalone mine producing dore on site, supported by existing historical mining, permitting, engineering and metallurgical data from operations between 1997 and 2002 and potential optimization of historic leach pad material.

The most recent analyst rating on (TSE:WAM) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Alaska Silver Corp stock, see the TSE:WAM Stock Forecast page.

Alaska Silver Hits High-Grade Silver and Zinc at Illinois Creek’s Waterpump Creek and Silver Sage

Alaska Silver Corp reported high-grade silver and zinc intercepts from its 2025 drilling program at the Illinois Creek project in western Alaska, including strong results from the Waterpump Creek deposit that suggest the continuation of its existing high-grade resource south of a post-mineral fault. The company also advanced the newly discovered Silver Sage zone, where trenching and initial scout drilling confirmed a significant high-grade silver-lead breccia trend, expanding the district footprint and supporting the potential for additional concealed mineralized zones that could enhance future resource growth and justify a more aggressive drilling campaign in 2026 following its recent U.S. listing and financing.

The most recent analyst rating on (TSE:WAM) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Alaska Silver Corp stock, see the TSE:WAM Stock Forecast page.

Alaska Silver Eases Debt Terms and Grants RSUs to Directors

Alaska Silver Corp. has granted 68,334 restricted share units to certain non-executive directors under its director compensation policy, with each unit convertible into one subordinate voting share after a one-year vesting period, aligning board incentives more closely with shareholder interests. The company also amended a promissory note with an officer by lowering the interest rate, reducing monthly payments, and extending the maturity date, moves that ease near-term cash obligations and provide added financial flexibility as it advances exploration and development at its Illinois Creek Project in western Alaska.

Alaska Silver Corp Unveils High-Grade Silver Sage Discovery

Alaska Silver Corp has announced the discovery of a new high-grade mineralized zone, Silver Sage, at its Illinois Creek project. This discovery, confirmed through surface trenching, pit sampling, and initial drilling, indicates significant exploration potential with high-grade silver and lead mineralization. The Silver Sage zone is seen as a major step forward for the company, suggesting a large, district-scale CRD system, which could enhance the company’s market positioning and attract further investment.