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Dixie Gold (SPAR) AI Stock Analysis

TSE:SPAR

Dixie Gold

(TSXV:SPAR)

Select Model
Rating:44Neutral
Price Target:CAD 0.17â–¼(-2.86% Downside)
Action:reiterated
Date:10/20/26

The score is primarily constrained by the company’s lack of revenue, persistent losses, cash burn, and declining equity. Technical positioning provides some support, but the negative P/E and absence of dividend income further limit the score.

Positive Factors
Debt-Free Balance SheetThe absence of reported debt limits financial leverage and avoids scheduled interest obligations, giving Dixie Gold greater flexibility than a similarly loss-making issuer with borrowings. This provides some capacity to pursue exploration or development without immediate debt-service pressure.
Negative Factors
Pre-Revenue BusinessThe absence of reported revenue indicates Dixie Gold has not yet reached commercial scale, leaving its financial profile dependent on future development success rather than established customer demand. This weakens visibility into recurring income and makes near-term profitability difficult to establish.

Dixie Gold (SPAR) vs. iShares MSCI Canada ETF (EWC)

-75%-50%-25%0%25%50%TSE:SPAR-27.08%EWC+21.27%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
CAD 1.39M
Dividend Yield
―
Average Volume (3M)
29.60K
Price to Earnings (P/E)
-2.1
Beta (1Y)
-1.09
Revenue Growth
―
EPS Growth
23.69%
Country
Canada
Employees
0
Sector
General
Sector Strength
55
Industry
Other Precious Metals

Dixie Gold Business Overview & Revenue Model

Company Description

Spartacus Metals Inc. is an exploration and development company. Its projects include Red Lake, Preston Uranium, Isko Gold, Torp Lithium, and Phoenix Lithium. The company was founded by Ryan Kalt in 2011 and is headquartered in Vancouver, Canada.

How the Company Makes Money

null

Dixie Gold Financial Statement Overview

Summary

Severe weakness from no revenue or gross profit, persistent losses, negative cash flow, and declining equity. Zero debt provides a limited offset.

Income Statement

15Very Negative

Balance Sheet

45Neutral

Cash Flow

25Negative
Financial statement breakdown
BreakdownTTMMar 2026Mar 2025Mar 2024Mar 2023Mar 2022
Income Statement
Total Revenue000000
Gross Profit000000
EBITDA100.58K-260.48K-382.15K-291.00K-87.04K58.96K
Net Income-655.54K-711.68K-942.00K-25.39K-285.00K-139.00K
Balance Sheet
Total Assets175.56K175.56K897.51K1.46M1.48M1.89M
Cash, Cash Equivalents and Short-Term Investments153.02K153.02K410.29K271.15K244.88K739.39K
Total Debt000000
Total Liabilities18.17K18.17K28.44K21.10K17.61K137.19K
Stockholders Equity157.39K157.39K869.07K1.44M1.47M1.75M
Cash Flow
Free Cash Flow-284.02K-357.27K-260.86K26.27K-494.52K-381.69K
Operating Cash Flow-209.70K-265.16K-243.97K49.74K-446.94K-171.49K
Investing Cash Flow16.26K7,89683.11K-23.47K-47.58K236.08K
Financing Cash Flow00300.00K000

Dixie Gold Technical Analysis

Technical Analysis SentimentNegative
Last Price0.17

Price Trends

50DMA0.20Negative
100DMA0.18Positive
200DMA0.19Negative

Market Momentum

MACD-0.01Positive
RSI40.00Neutral
STOCH5.56Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:SPAR, the sentiment is Negative. The current price of 0.17 is below the 20-day moving average (MA) of 0.21, below the 50-day MA of 0.20, and below the 200-day MA of 0.19, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 40.00 is Neutral, neither overbought nor oversold. The STOCH value of 5.56 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:SPAR.

Dixie Gold Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TSE:SPAR against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TSE:RFLXTSE:RFLX46NeutralCAD 1.65M-0.74143.37%――58.36%
TSE:SPARTSE:SPAR44NeutralCAD 1.39M-2.14-155.06%――23.69%
TSE:LEXTTSE:LEXT41NeutralCAD 1.31M-0.74-179.27%――71.78%
TSE:AWRTSE:AWR30UnderperformCAD 1.88M-7.50-45.72%――-439.68%

* General Sector Average

Performance Comparison

0%100%200%300%TSE:SPARTSE:AWRTSE:FTJTSE:LEXTTSE:RFLXDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
TSE:SPAR and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TSE:SPARDixie Gold Inc.0.17-0.07-27.08%
TSE:AWRAurwest Resources Corp.0.150.0551.52%
TSE:FTJFort St James Nickel Corp0.03-0.00-5.71%
TSE:LEXTLexston Life Sciences Corp.0.05-0.20-80.00%
TSE:RFLXFreedom Battery Metals, Inc.0.16-0.07-30.43%

Dixie Gold Corporate Events

Business Operations and StrategyExecutive/Board ChangesPrivate Placements and Financing

Spartacus Metals Raises $831,000 and Reshapes Board for Lithium-Focused Growth

Positive
Sep 29, 2026

Spartacus Metals Inc. has closed a non-brokered private placement of 7,914,283 units at $0.105 per unit, raising approximately $831,000 in gross proceeds. Each unit includes one common share and a three-year warrant exercisable at $0.15, with the fin...

Business Operations and StrategyShareholder Meetings

Spartacus Metals Confirms Shareholder Backing at 2026 AGM

Positive
Sep 4, 2026

Spartacus Metals Inc., a Vancouver-based junior mining and exploration company listed on the TSX Venture Exchange, is engaged in mineral resource development and related activities in the metals sector. Its operations place it within the speculative...

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 20, 2026