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G2 Goldfields

GTWO.TO
28
Gold · Basic Materials
Also trades as: GUYGF
Price
C$9.68
+0.49 (+5.33%)
Market Cap
C$2.50B
Exchange
Toronto Stock Exchange
Winston Score
28
Winston is worried
Below-average fundamentals — multiple weak pillars.
Data as of Aug 23, 2026 · filings through Feb 28, 2026
How the score breaks down
Quality
Mixed
Growth
Mixed
Cash Flow
Weak
Stability
Data not available
Valuation
Data not available

Share count rising — dilution

+94.4% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 120.7M (2021) → 234.6M (2025)

Winston Score History

The full picture

G2 Goldfields is a Canadian gold exploration company. It searches for gold deposits underground and does not yet mine or sell gold commercially. The company's main asset is its Oko West project in Guyana, South America, where it has reported high-grade gold drill results that have drawn significant attention in the mining industry.

G2 Goldfields makes almost no revenue today. Its income comes from raising money through stock offerings, which it then spends on drilling and exploration work. The company operates primarily in Guyana, a country that has become an increasingly active destination for gold exploration due to its geology and relatively open mining regulations. Because it has no producing mine yet, the company burns cash continuously, and its future depends almost entirely on whether it can prove a large enough gold deposit to attract a major mining company as a buyer or partner — or eventually build a mine itself.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+228.6% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+76.5% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

C$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

36.9%ownership

Flat

Insider ownership roughly steady over the past year

Cash Runway

~22 months

C$53M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Adequate runway but may need to raise capital within 2 years

Revenue accelerating

G2 Goldfields grew revenue 229% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
99.6%
Premium pricing power — 99.6% gross margin
Profit after running costs
Operating Margin
-256.8%
Losing money on operations — -256.8%
Return on the money invested
ROCE
-6.9%
Weak — -6.9% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
+112.4%
Fast-growing sales (+112.4% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
2/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-2259.8%
Burning cash (-2259.8%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
N/A
Data not available
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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