Nevada Canyon Gold Corp.

Nevada Canyon Gold is a pre-revenue exploration/royalty micro-cap with no producing assets and ongoing cash burn.

Strengths

• Working capital of $4.1M and ~$5.5M cash provide near-term runway with no debt pressure
• Low-overhead royalty/streaming model with leverage to gold prices if assets reach production

Risks

• No revenue, ROA -44.6%, ROE -53.6%, net loss $3.7M; none of the underlying properties are in production or have reserves
• Passive interests with no operational control and dependence on equity financing to continue

Notable findings

• Auditor changeRecent 8-K item 4.01 8-K ↗
• Chronic dilutionShare count +194%/yr over 2y (dilution, book value/share -92%)