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	2017 - 2021
Period Ending	Aug '25 Aug 14, 2025	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	2017 - 2021
Market Capitalization	266	175	69	93	232	165	Upgrade
Market Cap Growth	99.80%	153.84%	-25.75%	-60.04%	40.18%	369.11%	Upgrade
Enterprise Value	233	171	58	75	225	124	Upgrade
Last Close Price	1.06	0.82	0.40	0.95	2.91	2.73	Upgrade
PE Ratio	-	-	77.37	-	-	-	Upgrade
PB Ratio	1.28	0.95	0.42	0.81	2.32	2.53	Upgrade
P/TBV Ratio	1.28	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	17.47	6.57	2.63	18.73	3.63	10.74	Upgrade
Current Ratio	17.91	7.02	2.93	19.16	3.67	10.78	Upgrade
Return on Equity (ROE)	-0.48%	-0.95%	0.64%	-4.55%	-14.94%	-10.93%	Upgrade
Return on Assets (ROA)	-1.45%	-1.62%	-1.67%	-1.90%	-7.89%	-7.16%	Upgrade
Return on Capital (ROIC)	-1.60%	-1.82%	-1.90%	-2.22%	-9.19%	-7.84%	Upgrade
Earnings Yield	-0.33%	-0.95%	1.29%	-5.25%	-5.33%	-2.88%	Upgrade
FCF Yield	-8.62%	-15.94%	-41.22%	-35.77%	-19.90%	-15.74%	Upgrade
Buyback Yield / Dilution	-29.67%	-41.45%	-57.85%	-30.83%	-27.61%	-86.99%	Upgrade

Updated Jan 29, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.