Stock

Pan Global Resources

PGZ.V

Industrial Materials · Basic Materials

Price

C$0.21

+0.01 (+2.38%)

Market Cap

C$88.0M

Exchange

Toronto Stock Exchange Ventures

Winston Score

–

No score yet — nothing to grade.

This is a pre-revenue company — it has no sales yet, just exploration or development costs. There’s no operating business to grade on profitability, margins or cash flow, so the Winston Score stays blank until it starts booking revenue.

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Share count rising — dilution

+71.7% over 4y

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

Diluted shares outstanding: 180.2M (2022) → 309.5M (2026)

§Winston Score History

The full picture

Pan Global Resources is a mineral exploration company focused on discovering copper and other metal deposits in southern Spain. The company does not mine or sell metals yet — instead, it drills and studies the ground to find valuable ore bodies. Its flagship project is the Escacena Project in the Iberian Pyrite Belt, one of the world's most historically productive mining districts for copper, tin, and zinc.

Because Pan Global is still in the exploration stage, it has no product revenue. It funds its work by raising money from investors through stock offerings. The company is small, with a market cap around $100 million, and operates primarily in Spain. Its main competitive advantage is holding a large, prospective land position in a proven mineral belt with supportive local permitting. The key growth driver is advancing its discoveries toward a resource estimate and eventual mine development, but the main risk is that exploration may not lead to an economically viable deposit.

Growth Profile

For growth stock investors

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

Revenue Growth

Revenue data limited

EPS Growth

+19.7% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

C$0/ year

Research and development spending

Insider Activity

9.4%ownership

Insiders own a meaningful stake in the company

Cash Runway

~10 months

C$5M cash & investments

Short runway — potential dilution ahead through share issuance

Cash watch

Pan Global Resources has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

N/A

—

Data not available

Profit after running costs

Operating Margin

N/A

—

Data not available

Return on the money invested

ROCE

-109.9%

Weak — -109.9% 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

N/A

—

Data not available

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

N/A

—

Data not available

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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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