Thesis Gold Ratios and Metrics

Market cap in millions CAD. Fiscal year is March - February.

Millions CAD. Fiscal year is Mar - Feb.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2016 - 2020
Period Ending	Jan '26 Jan 8, 2026	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022	Feb '21 Feb 28, 2021	2016 - 2020
Market Capitalization	645	175	69	93	232	165	Upgrade
Market Cap Growth	422.45%	153.84%	-25.75%	-60.04%	40.18%	369.11%	Upgrade
Enterprise Value	597	171	58	75	225	124	Upgrade
Last Close Price	2.47	0.82	0.40	0.95	2.91	2.73	Upgrade
PE Ratio	-	-	77.37	-	-	-	Upgrade
PB Ratio	2.86	0.95	0.42	0.81	2.32	2.53	Upgrade
P/TBV Ratio	2.86	0.95	0.42	0.81	2.32	2.53	Upgrade
P/OCF Ratio	-	-	15.36	-	109.22	-	Upgrade
Debt / Equity Ratio	0.00	0.01	0	0.00	0.00	-	Upgrade
Quick Ratio	3.44	6.57	2.63	18.73	3.63	10.74	Upgrade
Current Ratio	3.53	7.02	2.93	19.16	3.67	10.78	Upgrade
Return on Equity (ROE)	-1.81%	-0.95%	0.64%	-4.55%	-14.94%	-10.93%	Upgrade
Return on Assets (ROA)	-1.70%	-1.62%	-1.67%	-1.90%	-7.89%	-7.16%	Upgrade
Return on Capital (ROIC)	-1.98%	-1.82%	-1.90%	-2.22%	-9.19%	-7.84%	Upgrade
Return on Capital Employed (ROCE)	-2.60%	-2.50%	-2.30%	-3.00%	-11.20%	-7.90%	Upgrade
Earnings Yield	-0.56%	-0.95%	1.29%	-5.25%	-5.33%	-2.88%	Upgrade
FCF Yield	-4.20%	-15.94%	-41.22%	-35.77%	-19.90%	-15.74%	Upgrade
Buyback Yield / Dilution	-23.66%	-41.45%	-57.85%	-30.83%	-27.61%	-86.99%	Upgrade

Updated Aug 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.