Iconic Minerals

ICM.V

Gold · Basic Materials

Price

C$0.06

+0.00 (+0.00%)

Market Cap

C$10.2M

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.

Share count rising — dilution

+28.5% over 4y

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

Diluted shares outstanding: 114.8M (2021) → 147.6M (2025)

Iconic Minerals Ltd. is a junior mineral exploration company based in Canada. It searches for valuable minerals in the ground, focusing primarily on lithium and gold projects. The company's main assets are exploration-stage properties located in Nevada, USA, and it does not yet produce or sell any minerals commercially.

Iconic Minerals makes no revenue at this stage — it funds its operations by raising money from investors through stock issuances. As a micro-cap exploration company listed on the TSX Venture Exchange, it is very small and has no competitive moat in the traditional sense; its value depends entirely on whether its properties contain economically viable mineral deposits. The biggest risk the company faces is running out of cash before it can prove its projects are worth developing, which is a common challenge for early-stage junior miners.

Winston Score History

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

-6.1% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$77,635/ year

↓ Declining (-61% vs prior year)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

6.2%ownership

Insiders own a meaningful stake in the company

Cash Runway

~10 months

$2M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Cash watch

Iconic Minerals has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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.

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Quality

Gross Margin

N/A

—

Data not available

Operating Margin

N/A

—

Data not available

ROCE

-23.1%

Weak — -23.1% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

N/A

—

Data not available

EPS YoY

N/A

Data not available

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

N/A

—

Data not available

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

N/A

—

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

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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