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XXIX Metal
(XXIX)
XXIX Metal (XXIX) vs. iShares MSCI Canada ETF (EWC)
XXIX Metal Business Overview & Revenue Model
XXIX Metal Financial Statement Overview
| Breakdown | TTM | Oct 2025 | Jan 2025 | Oct 2023 | Jan 2023 | Jan 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -16.55K | -44.33K | -11.88K | -11.11K | -15.49K | -11.88K |
| EBITDA | -17.13M | -17.70M | -2.90M | -4.81M | -6.50M | -170.12K |
| Net Income | -17.81M | -15.73M | -4.86M | -7.32M | -3.91M | 482.13K |
Balance Sheet | ||||||
| Total Assets | 6.84M | 11.85M | 8.24M | 12.38M | 16.84M | 20.73M |
| Cash, Cash Equivalents and Short-Term Investments | 4.35M | 7.60M | 6.32M | 10.21M | 15.39M | 17.51M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 2.72M | 5.10M | 495.76K | 262.27K | 318.66K | 3.56M |
| Stockholders Equity | 4.12M | 6.75M | 7.74M | 12.12M | 16.52M | 17.17M |
Cash Flow | ||||||
| Free Cash Flow | -2.98M | -3.64M | -1.69M | -4.42M | -10.07M | -5.93M |
| Operating Cash Flow | -2.71M | -3.47M | -1.57M | -4.42M | -10.07M | -5.87M |
| Investing Cash Flow | 232.22K | 359.01K | -136.42K | -534.74K | -37.26K | 7.75M |
| Financing Cash Flow | 0.00 | 5.46M | 0.00 | 1.93M | 1.45M | 13.89M |
XXIX Metal 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$24.12M | -9.85 | -255.06% | ― | ― | 1.23% | |
50 Neutral | C$42.15M | -3.92 | -20.21% | ― | ― | -36.80% | |
50 Neutral | C$8.33M | -2.87 | -84.76% | ― | ― | -11.14% | |
47 Neutral | C$21.80M | 0.20 | 4512.49% | ― | -100.00% | 35.19% | |
46 Neutral | C$46.03M | 54.64 | -282.63% | ― | ― | ― | |
42 Neutral | C$106.74M | -11.44 | -123.46% | ― | ― | -164.42% |
XXIX Metal Corporate Events
XXIX Metal Corp. reported strong initial drill results from the Cooke Zone, about two kilometres east of its envisioned Opemiska open pit, confirming meaningful near-surface gold-copper-silver mineralization. Drilling has intersected at least two parallel shear-hosted zones in every hole, including standout intercepts such as 3.63 g/t gold, 3.50 g/t silver and 0.27% copper over 6.40 metres, indicating continuity and a distinct mineralization style from the main Springer and Perry zones.
The company has expanded its Cooke drill program to roughly 10,000 metres over the Cooke and Saddle zones, focusing on delineating a mineralized crown pillar across a 700‑metre strike. Management says the results support tighter-spaced follow-up drilling to advance Cooke toward a maiden Mineral Resource Estimate, which could provide incremental satellite mill feed, increase Opemiska’s overall project scale and flexibility, and strengthen the project’s path toward an updated resource and future feasibility work.
XXIX Metal Corp. plans a high-profile presence around PDAC 2026, exhibiting at the Investors Exchange in Toronto and joining multiple investor-focused events, including the private Ore Day 2026 lunch and the Toronto Metals Investor Forum. Through these appearances, the company aims to showcase progress on its flagship Opemiska and Thierry copper projects to targeted institutional and retail investors.
The company is leveraging these platforms to highlight the robust economics at Opemiska, where a recent assessment supports a long-life open-pit copper operation with attractive returns, and the strong infrastructure positioning at Thierry. This concentrated investor outreach underscores XXIX’s strategy to solidify market recognition as a leading Canadian copper developer and potentially catalyze financing and strategic interest in its growth pipeline.
XXIX Metal Corp., a Canadian copper developer, is advancing its Opemiska and Thierry projects, which together anchor its strategy to become a leading producer in Eastern Canada. Opemiska, a high-grade open-pittable copper asset in Quebec, shows strong economics over a projected 17-year mine life, while the Thierry Project in Ontario offers additional scale with near-surface and past-producing zones supported by substantial infrastructure.
The company plans a high-profile presence at PDAC 2026 in Toronto, where it will exhibit at the Investors Exchange and meet with the broader mining investment community. Ahead of PDAC, XXIX will also present at the Metals Investor Forum and participate in Ore Day 2026, an invite-only investor lunch, moves that aim to raise its capital markets profile, highlight recent project progress, and deepen engagement with key institutional and retail investors in the copper and mining space.
XXIX Metal Corp. has welcomed a public call from the Town of Chapais urging coordinated government action to advance the company’s Opemiska Copper Project and broader economic development in Northern Québec. The municipality is pushing provincial and Plan Nord stakeholders to streamline programs, infrastructure support and processes to accelerate high-priority projects while emphasizing responsible development.
The company says Chapais’ stance underscores strong local alignment and highlights the potential regional benefits from Opemiska, including jobs, training, procurement and long-term growth. XXIX plans to continue structured engagement with Chapais, the Province of Québec, Cree communities and other partners, advance studies through a phased approach, and advocate for better coordination of northern development tools without weakening technical, environmental or social standards.
XXIX Metal Corp. has welcomed a public call from the Town of Chapais for coordinated action among Quebec’s northern development programs and provincial agencies to advance the Opemiska Copper Project. The municipality has emphasized the project’s potential to create jobs, training opportunities, local procurement, and long-term growth, signalling strong alignment at the local level.
The company supports improved coordination across technical, environmental, social, and regulatory processes, arguing that better sequencing of government tools can speed responsible development without weakening oversight. XXIX plans to continue structured engagement with Chapais, the Province of Quebec, Cree communities, and other stakeholders while advancing studies and planning for Opemiska in a phased manner that aims to unlock regional economic benefits.
By reinforcing its commitment to transparent, community-focused project planning, XXIX is positioning Opemiska as a flagship northern development initiative within Quebec’s broader Plan Nord framework. This could enhance the company’s standing as a leading copper developer in Eastern Canada and potentially accelerate timelines for bringing high-grade Canadian copper supply to market, with implications for local communities and the wider resource sector.
XXIX Metal Corp. has outlined an aggressive, fully funded exploration program through 2026 following a recent $17.2 million financing that leaves it with over $20 million in cash and $24 million in working capital. The company plans to advance its Opemiska copper project toward a preliminary feasibility study while launching the first large-scale drill campaign in more than 50 years at its Thierry project in Ontario.
At Opemiska, the 10,000-metre drill program at the Cooke Gold Zone and planned infill drilling at the Saddle Zone are intended to expand and upgrade resources and improve pit design and economics. XXIX also plans 3D model refinement and an updated mineral resource estimate in late 2026, while a 20,000-metre maiden drill program at Thierry’s K1 Zone will test its new bulk-tonnage interpretation and support a future updated resource, potentially enhancing the company’s growth pipeline and project portfolio.
XXIX Metal Corp. has closed a $17.25 million best efforts private placement, issuing a mix of Ontario and Québec charity flow-through units and conventional units, each bundled with half a warrant exercisable at $0.17 over 24 months. The financing, led by SCP Resource Finance with Beacon Securities and Canaccord Genuity, relied on Canadian prospectus exemptions, with certain securities subject to a standard four-month hold period.
Proceeds from the flow-through units will be directed to qualifying exploration expenditures at the company’s Opemiska Project in Québec and Thierry Project in Ontario, with all eligible expenditures to be incurred by the end of 2027 and renounced to investors by late 2026 for tax benefits. Net proceeds from the conventional units will support advancement of the Opemiska preliminary feasibility study and related technical work, bolstering XXIX’s ability to de-risk and advance its key Canadian copper projects.
XXIX Metal Corp. has arranged a best-efforts private placement financing of up to approximately $12 million, led by SCP Resource Finance, through a mix of Ontario and Québec charity flow-through units and conventional units. The flow-through components are structured to provide Canadian tax benefits while directing proceeds toward qualifying exploration expenditures on the company’s mineral properties in Ontario and Québec by the end of 2027, with additional funds from non-flow-through units supporting broader corporate and exploration needs. The offering, conducted under the listed issuer financing exemption and other prospectus exemptions, broadens access to both retail and accredited investors, potentially strengthening XXIX’s balance sheet and enabling an accelerated exploration program without an immediate hold period on certain securities issued to Canadian subscribers.
XXIX Metal Corp. has completed a comprehensive reinterpretation of the K1 zone and is nearing completion of data validation at the K2 zone at its past‑producing Thierry Copper Project in Ontario, integrating over 210,000 metres of historical drilling into a modern geological database. The new model recasts K1 as a large-scale bulk‑tonnage copper‑PGE open‑pit target, with grades that appear to improve at depth and remain open to the east, while K2 is now viewed as a potential higher‑grade underground operation; recent IP survey results suggest sulphide mineralization between the two zones, guiding a targeted drill program planned for 2026. Against a backdrop of significantly higher copper and PGE prices than those used in the 2021 resource estimates, the company sees scope for expanding resources and lowering cut‑off grades, and combined with strong road, power, and community infrastructure around Pickle Lake, Thierry is being positioned as a rare, large, royalty‑free copper asset in Eastern Canada with improving economic prospects and an active upcoming exploration season.
XXIX Metal Corp. has completed a 73.5-line kilometre induced polarization survey at its Thierry copper project, delivering the first systematic, property-wide geophysical assessment and revealing multiple strong IP anomalies around the K1 and K2 deposits. The results highlight extensive conductive corridors between, east, and west of K1 and K2—many in previously untested areas—suggesting potential sulphide mineralization and district-scale exploration targets. Integrated with historical survey data and supported by a nearly complete, 210,000-metre drilling database validation and reinterpretation for K2, the work positions Thierry for an active 2026 exploration season focused on refining targets, investigating a possible connection between K1 and K2, and guiding follow-up drilling that could materially enhance the project’s resource potential and XXIX’s standing in the Canadian copper sector.