Stock

Spanish Mountain Gold

SPA.V

Gold · Basic Materials

Price

C$0.36

+0.01 (+4.29%)

Market Cap

C$186.4M

Exchange

Toronto Stock Exchange Ventures

Winston Score

–

No score yet — Winston is napping.

We couldn’t gather enough financial data to score this stock reliably.

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Share count rising — dilution

+39.7% over 4y

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

Diluted shares outstanding: 330.4M (2021) → 461.5M (2025)

§Winston Score History

The full picture

Spanish Mountain Gold is a Canadian mining company focused on developing a large gold deposit in British Columbia, Canada. The company's main asset is the Spanish Mountain gold project, an open-pit gold deposit located in the Cariboo region. It is still in the exploration and development stage, meaning it does not yet operate a producing mine.

Because the company has no mine in production, it currently generates no revenue. It funds its operations by raising money from investors through stock offerings. Spanish Mountain Gold trades on the TSX Venture Exchange and has a small market capitalization, making it a junior mining company. The project's large gold resource base is its key asset, but the main risks include the need for significant capital to build a mine, dependence on gold prices, permitting requirements, and the possibility that the project may never reach production.

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

-275.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

C$0/ year

Research and development spending

Insider Activity

28.6%ownership

Insiders own a meaningful stake in the company

Cash Runway

~12 months

C$30M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Adequate runway but may need to raise capital within 2 years

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

-3.6%

Weak — -3.6% 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

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

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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