Company Description1911 Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, development, and extraction of precious metals. It primarily explores for gold. The company holds a land package totaling 58,672 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba. It also owns interests in the True North mine and mill complex located in Bissett, Manitoba; and Apex property consisting of 5 mining claims covering an area of approximately 752 hectares located near Snow Lake, Manitoba, as well as in Tully and Denton-Keefer projects located near Timmins, Ontario. The company was formerly known as Havilah Mining Corporation and changed its name to 1911 Gold Corporation in June 2019. 1911 Gold Corporation was incorporated in 2018 and is based in Vancouver, Canada.

How the Company Makes Money

1911 Gold Financial Statement Overview

Summary

1911 Gold faces significant financial challenges with declining revenues, persistent losses, and negative cash flows. Despite a strong balance sheet with no debt, operational inefficiencies and a reliance on external financing raise concerns.

Income Statement

Negative

1911 Gold's revenue has declined significantly from 2019 to TTM, indicating challenges in generating sales. The gross profit margin is negative, showing a lack of profitability at the operational level. Net income has also been negative across the years, with a worsening trend, suggesting persistent losses. EBIT and EBITDA margins are strongly negative, reflecting operational inefficiencies and high fixed costs, which are concerning for future sustainability.

Balance Sheet

Neutral

The company maintains a strong equity base with zero debt, as reflected in the debt-to-equity ratio of 0. This indicates financial stability and less risk of insolvency. The equity ratio is strong, ensuring the company has a solid buffer against liabilities. However, the lack of income generation is a concern for long-term value creation despite a healthy balance sheet.

Cash Flow

Negative

Operating cash flow is negative and deteriorating, indicating struggles in cash generation from core operations. Free cash flow has been consistently negative, underscoring challenges in covering capital expenditures and financing needs. The company relies heavily on external financing, which might not be sustainable in the long term, emphasizing potential liquidity risks.

TTM	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Breakdown
Income Statement		Total Revenue
707.00K	731.00K	5.88M	9.67M	10.77M	12.28M
	Gross Profit
-244.00K	325.00K	-3.40M	-4.69M	-509.00K	-4.53M
	EBIT
-5.58M	-6.13M	-13.29M	-11.09M	-7.08M	-8.57M
	EBITDA
-8.89M	-1.42M	-10.37M	-9.90M	-4.34M	-5.18M
	Net Income Common Stockholders
-4.80M	-2.01M	-11.39M	-8.76M	-6.10M	-7.83M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
5.68M	3.17M	665.00K	10.17M	10.03M	9.63M
	Total Assets
74.41M	35.56M	34.16M	45.60M	47.62M	48.38M
	Total Debt
0.00	0.00	0.00	0.00	0.00	0.00
	Net Debt
-5.68M	-3.10M	-630.00K	-9.95M	-10.03M	-9.63M
	Total Liabilities
12.99M	5.04M	5.98M	6.32M	5.97M	4.82M
	Stockholders Equity
61.43M	30.52M	28.19M	39.28M	41.65M	43.56M
Cash Flow		Free Cash Flow
-5.88M	-2.56M	-9.32M	-7.65M	-4.47M	-3.63M
	Operating Cash Flow
-5.76M	-2.56M	-9.29M	-7.29M	-4.35M	-2.93M
	Investing Cash Flow
336.00K	1.16M	-37.00K	-473.00K	-121.00K	2.46M
	Financing Cash Flow
8.06M	3.87M	0.00	7.69M	4.87M	4.13M

1911 Gold Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AUMBF		$31.89M	―	-26.56%	―	―	―
Sector *	51 Neutral	$2.02B	-1.14	-21.37%	3.64%	2.88%	-30.57%
GWM	50 Neutral	C$37.20M	―	-53.99%	―	―	43.11%
RPX	39 Underperform	C$32.15M	―	-151.65%	―	―	-56.27%
BTR	39 Underperform	C$43.82M	―	-129.79%	―	―	-4.84%
PHNM		C$39.62M	―	-5.04%	―	―	―
ESM	34 Underperform	C$51.72M	56.52	93.63%	―	―	―

* Basic Materials Sector Average

Performance Comparison

AUMBF

1911 Gold

0.16

0.10

166.67%

TSE:BTR

BonTerra Resources

0.26

0.02

8.33%

TSE:PHNM

Phenom Resources Corp

0.35

-0.11

-23.91%

TSE:ESM

Euro Sun Mining

0.13

0.07

116.67%

TSE:GWM

Galway Metals

0.39

0.04

11.43%

TSE:RPX

Red Pine Exploration

0.11

<0.01

10.00%

Glossary

OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.

NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.

UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

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