Star Gold Corp.

Pre-revenue gold exploration micro-cap burning cash on permitting at its single Longstreet project with essentially no working capital.

Strengths

• Minimal required spend (owns 137 claims outright; only annual claims fees and small advance royalty)
• Modest, controlled annual net loss (~$257k) with low overhead

Risks

• Current/quick ratio of 0.02 (12th pct) and only ~$11k cash — effectively no runway, fully dependent on continual equity raises
• No revenue, no producing mine, and ROE of 0.82 is a negative-equity artifact, not a return

Notable findings

• Auditor changeRecent 8-K item 4.01 8-K ↗
• Exec changeRecent 8-K item 5.02 8-K ↗
• Weak liquidityCurrent ratio 0.02 (<1)
• Chronic dilutionShare count +19%/yr over 4y (dilution, book value/share -2%)