Company DescriptionSolGold Plc, a mineral exploration and development company, explores for and develops mineral properties in Ecuador, Australia, and Solomon Islands. The company primarily explores for copper, gold, silver, and molybdenum deposits. Its flagship project is the Alpala project that covers an area of approximately 50 square kilometers located in Imbabura province, Northern Ecuador. The company was formerly known as Solomon Gold plc and changed its name to SolGold plc in May 2012. SolGold Plc was incorporated in 2005 and is headquartered in Brisbane, Australia.

How the Company Makes Money

SolGold Financial Statement Overview

Summary

SolGold's financial statements reveal significant challenges, including persistent losses, no revenue generation, and negative cash flows, which raise concerns about its financial viability. The company has relied heavily on debt financing, which poses potential risks given the shrinking equity base. The outlook reflects substantial financial hurdles that need addressing to improve its financial health and stability.

Income Statement

Very Negative

The income statement shows persistent losses, with no revenue generation and negative EBIT and EBITDA figures. The company has not generated any revenue over the reported periods, indicating a lack of operational income. Net profit margins are negative due to the absence of revenue, resulting in substantial net losses, which is a significant concern for financial health.

Balance Sheet

Negative

The balance sheet reflects a moderate debt-to-equity ratio due to a high level of total debt relative to stockholders' equity. The company's equity ratio shows a reasonable proportion of equity financing, but the growing liabilities indicate potential financial risks. Despite these concerns, the company maintains a fair amount of total assets, though the declining trend in stockholders' equity suggests weakening financial stability.

Cash Flow

Negative

The cash flow statement indicates negative operating and free cash flows, highlighting the company’s challenges in generating cash from operations. The lack of positive free cash flow growth and negative cash flow ratios compared to net income suggest difficulties in covering operational expenses and capital expenditures through internally generated funds. Overall, the cash flow situation highlights potential liquidity challenges.

TTM	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020
Breakdown
Income Statement		Total Revenue
0.00	0.00	0.00	0.00	0.00	0.00
	Gross Profit
-264.49K	0.00	-298.07K	-619.05K	0.00	0.00
	EBIT
-13.73M	-20.80M	-38.48M	18.73M	-12.87M	-13.79M
	EBITDA
-36.74M	-13.49M	-24.63M	19.35M	-11.48M	-11.97M
	Net Income Common Stockholders
-55.79M	-60.30M	-50.34M	-1.70M	-22.89M	-14.12M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
1.82M	6.03M	32.48M	26.10M	109.56M	46.90M
	Total Assets
46.89M	463.85M	478.34M	429.16M	456.91M	306.80M
	Total Debt
111.41K	199.16M	147.57M	84.79M	107.52M	16.44M
	Net Debt
-1.71M	193.13M	115.09M	58.69M	-2.04M	-30.46M
	Total Liabilities
815.76K	209.23M	165.41M	97.91M	118.29M	24.81M
	Stockholders Equity
46.08M	254.61M	312.93M	332.44M	339.20M	282.49M
Cash Flow		Free Cash Flow
-30.57M	-10.48M	-78.63M	-82.66M	-95.94M	-68.44M
	Operating Cash Flow
-8.11M	-10.24M	-33.66M	-11.01M	-14.05M	-9.10M
	Investing Cash Flow
-22.32M	-25.24M	-43.92M	-71.65M	-81.76M	-59.37M
	Financing Cash Flow
30.97M	9.05M	84.11M	-485.39K	157.40M	75.08M

SolGold Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SLGGF		$284.73M	―	-13.52%	―	―	―
KMR	76 Outperform	£353.73M	6.97	5.55%	6.02%	-12.22%	-49.48%
JLP	72 Outperform	£116.72M	7.76	1.86%	―	―	―
ECOR	66 Neutral	£154.87M	9.71	-2.05%	5.40%	-5.97%	-1292.31%
Sector *	51 Neutral	$2.02B	-1.14	-21.37%	3.64%	2.88%	-30.57%
GFM		£310.53M	35.77	4.18%	―	―	―
SAV		£80.39M	―	-13.18%	―	―	―

* Basic Materials Sector Average

Performance Comparison

SLGGF

SolGold

0.09

-0.03

-25.00%

GB:ECOR

Ecora Resources

62.30

-9.72

-13.50%

GB:GFM

Griffin Mining

168.50

17.50

11.59%

GB:JLP

Jubilee Metals Group

3.80

-3.80

-50.00%

GB:SAV

Savannah Resources

3.70

0.05

1.37%

GB:KMR

Kenmare Resources

400.00

73.80

22.62%

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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