Independence Gold (IGO) AI Stock Analysis

• Market Cap: C$32.58M
• Dividend Yield: N/A
• Average Volume (3M): 515.80K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.67
• Revenue Growth: N/A
• EPS Growth: -40.87%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 60
• Industry: Gold
• EPS (TTM): -0.03
• Shares Outstanding: 224,657,500
• 10 Day Avg. Volume: 574,912
• 30 Day Avg. Volume: 515,803
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• Price to Cash Flow (P/CF): -6.50
• P/FCF Ratio: 0.00
• 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

Independence Gold's overall score of 41 reflects significant financial challenges, with persistent losses and negative cash flows as key risks. While the balance sheet stability is a positive, the lack of profitability and revenue generation remains concerning. Technical signals are mixed, offering no strong directional cues. Promising drill results provide some optimism, but the company's future hinges on improving operational efficiency and realizing mineral resource potential.

Independence Gold Business Overview & Revenue Model

Company Description

Independence Gold Corp is a mineral exploration company focused on the acquisition, exploration, and development of gold and other mineral properties. Operating primarily in Canada, the company seeks to identify and develop economically viable mineral deposits, leveraging its expertise in geology and exploration techniques. Independence Gold is committed to advancing its projects through exploration activities, strategic partnerships, and responsible mining practices.

How the Company Makes Money

Independence Gold makes money primarily through the exploration and development of mineral resources, specifically gold. The company's revenue model is centered on discovering and enhancing the value of its mineral properties, which can lead to monetization through various avenues such as selling stakes in its projects, entering into joint ventures, or selling the properties outright to larger mining companies. Additionally, Independence Gold may generate earnings by partnering with other mining firms for project development, benefiting from shared resources and reduced operational risks. Key revenue streams include proceeds from property sales, joint venture agreements, and any royalties or revenue-sharing arrangements from successful project developments. Factors contributing to its earnings include the quality and potential yield of its mineral projects, market demand for gold, and the company's ability to efficiently manage exploration and development costs.

Independence Gold Financial Statement Overview

Summary

Independence Gold faces significant financial challenges, with persistent losses and negative cash flows. While the balance sheet is reasonably stable with low leverage, the inability to generate revenue and profit is concerning. Improvement in operational efficiency and revenue generation is crucial for future sustainability.

Income Statement

Independence Gold has shown consistent operating losses with negative EBIT and net income over the periods. The lack of revenue highlights the challenges in generating income, and the increasing net losses suggest worsening financial health in terms of profitability.

Balance Sheet

The company maintains a relatively low level of debt compared to equity, as indicated by the debt-to-equity ratio. However, the overall equity has been diminishing, which could pose risks if the trend continues. The equity ratio suggests the company is largely financed by equity rather than debt, which is a positive sign in terms of leverage.

Cash Flow

Negative operating and free cash flows indicate operational challenges, though financing cash flows show an ability to raise funds. The lack of free cash flow growth signals ongoing operational difficulties, potentially threatening sustainability if not addressed.

Breakdown
TTM	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement		Total Revenue
0.00	0.00	0.00	0.00	0.00	0.00
	Gross Profit
-101.55K	-98.78K	-95.82K	-99.14K	-174.82K	-171.09K
	EBIT
-4.19M	-3.86M	-2.20M	-2.64M	-1.27M	-1.40M
	EBITDA
-4.76M	-3.68M	-2.15M	-8.81M	-954.38K	-1.31M
	Net Income Common Stockholders
-4.89M	-3.81M	-2.28M	-8.95M	-1.19M	-1.55M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
2.30M	3.61M	1.58M	2.03M	2.94M	846.11K
	Total Assets
12.96M	8.47M	6.46M	7.01M	14.40M	12.42M
	Total Debt
0.00	420.78K	523.12K	601.26K	801.25K	905.30K
	Net Debt
-1.91M	-3.17M	-1.05M	-1.37M	-2.01M	183.63K
	Total Liabilities
189.48K	866.29K	749.39K	787.76K	1.07M	1.05M
	Stockholders Equity
12.77M	7.60M	5.71M	6.23M	13.33M	11.37M
Cash Flow		Free Cash Flow
-4.21M	-3.39M	-1.82M	-2.57M	-872.49K	-1.20M
	Operating Cash Flow
-4.20M	-3.36M	-1.82M	-2.57M	-872.49K	-1.18M
	Investing Cash Flow
-6.37K	-25.45K	-3.47K	38.02K	152.08K	166.90K
	Financing Cash Flow
4.21M	5.41M	1.43M	1.69M	2.81M	-182.62K

Independence Gold Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.14
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:IGO, the sentiment is Negative. The current price of 0.14 is below the 20-day moving average (MA) of 0.17, below the 50-day MA of 0.18, and below the 200-day MA of 0.21, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 36.87 is Neutral, neither overbought nor oversold. The STOCH value of 20.00 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:IGO.

Independence Gold Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KNT	81 Outperform	C$3.05B	19.68	26.82%	―	77.93%	236.93%
ELD	79 Outperform	$5.42B	13.56	8.12%	―	33.06%	177.69%
OR	70 Outperform	$6.03B	270.90	1.33%	0.80%	6.02%	―
SSL	68 Neutral	$3.23B	167.17	1.00%	0.68%	-0.35%	-65.11%
BTO	66 Neutral	$5.90B	―	-18.54%	4.46%	-0.18%	-2195.85%
Sector *	49 Neutral	$1.95B	-1.60	-22.00%	3.78%	0.61%	-27.48%
IGO	41 Neutral	C$32.58M	―	-53.03%	―	―	-40.87%

Independence Gold Corporate Events

Independence Gold Reports Promising Drill Results at 3Ts Project

Independence Gold Corp. has announced promising assay results from the first phase of its 10,000-meter winter drill program at the 3Ts Project in British Columbia. These results include intersections of 35.00 meters grading 2.78 g/t gold and 25.05 g/t silver, highlighting the project’s potential for substantial mineral resources, which could enhance the company’s market position and attract further investment.

Independence Gold Resumes Drilling at 3Ts Project and Boosts Financing

Independence Gold Corp. has resumed the second phase of its 10,000-meter winter drill program at the 3Ts Project in British Columbia. Located near Artemis Gold Inc.’s Blackwater Mine, the project covers a district with multiple mineralized veins and aims to update its resource model. The company also announced successful exercise of warrants and completion of private placements, generating significant proceeds for further operations.

Independence Gold Unveils New Discoveries at 3Ts Project

Independence Gold Corp. has announced the discovery of several new mineralized veins at its 3Ts Project in British Columbia, showcasing promising copper, silver, and gold mineralization across various targets. The Ootsa, Cardiff, and Dixie vein systems have shown significant mineral potential, with findings including high-grade silver and gold samples. These discoveries highlight the project’s potential for contributing valuable resources to the mining sector.

Independence Gold Advances Winter Drilling Program

Independence Gold Corp. is advancing its winter drill program at the 3Ts Project in British Columbia, with a focus on testing promising targets like the Ian and Johnny vein systems. The program has completed initial infill drilling ahead of schedule and under budget, thanks to favorable weather conditions.

Independence Gold Kicks Off New Drill Program

Independence Gold Corp. has launched a diamond drill program at its 3Ts Project in British Columbia, targeting uncharted areas of the Ted-Mint and Tommy Vein Systems to expand their mineral resource. The program, which will span 25 drill holes and 7,500 meters, also aims to explore the potential of the Ian, Johnny, and Larry Veins, alongside the newly identified Ootsa and Balrog targets.