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Mining Americas

MAIFF
26
Gold · Basic Materials
Price
$4.64
+0.20 (+4.50%)
Market Cap
$254.0M
Exchange
Other OTC
Winston Score
26
Winston is worried
Below-average fundamentals — multiple weak pillars.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Mixed
Growth
Mixed
Cash Flow
Weak
Stability
Good
Valuation
Data not available

Share count rising — dilution

+56.3% over 4y

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

Diluted shares outstanding: 44.3M (2021) → 69.3M (2025)

Winston Score History

The full picture

Mining Americas Inc. is a small gold mining company focused on exploring and developing mineral projects in the Americas. Its core business is finding and extracting gold, which it sells to refiners, bullion dealers, and financial institutions. The company operates in the basic materials sector, where gold prices heavily influence how profitable the business can be.

Mining Americas earns revenue primarily by selling gold it produces from its mining operations. It is a micro-cap company with a market capitalization of around $200 million, meaning it is much smaller than major gold producers like Barrick or Newmont. Its gross margin of roughly 42% suggests reasonable production efficiency for its size, but its low return on invested capital of 4.5% points to the challenges small miners face in generating strong returns. The biggest risk the company faces is its dependence on gold prices, which it cannot control, along with the high costs and uncertainties tied to developing new mining projects.

Growth Profile

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

Revenue Growth

>+1,000% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-839.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

0.0%ownership

Relatively low insider ownership

Cash Runway

~8 years

$62M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

$62M cash & investments at current burn rate

Revenue accelerating

Mining Americas grew revenue 1858% 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
19.9%
Thin — 19.9% gross margin
Profit after running costs
Operating Margin
10.3%
Modest — 10.3% operating margin
Return on the money invested
ROCE
12.1%
Good — 12.1% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
>+1,000%
Fast-growing sales (>+1,000% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-59.7%
Burning cash (-59.7%)

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
0.30
Conservative — low debt load (0.30)
Covers its interest
Interest Cover
1.19x
Dangerous — barely covers interest (1.2x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit
P/E Ratio (TTM)
N/A
Data not available
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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