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Project One Resources

CNSX:PJO
Snowflake Description

Flawless balance sheet with weak fundamentals.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PJO
CNSX
CA$2M
Market Cap
  1. Home
  2. CA
  3. Materials
Company description

Project One Resources Ltd. engages in the acquisition, exploration, and evaluation of resource properties in Canada. The last earnings update was 304 days ago. More info.


Add to Portfolio Compare Print
  • Project One Resources has significant price volatility in the past 3 months.
PJO Share Price and Events
7 Day Returns
0%
CNSX:PJO
3.4%
CA Metals and Mining
1.3%
CA Market
1 Year Returns
-
CNSX:PJO
22%
CA Metals and Mining
-0.1%
CA Market
PJO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Project One Resources (PJO) 0% -5% -24% - - -
CA Metals and Mining 3.4% 1.6% 9.1% 22% -11.7% 0.3%
CA Market 1.3% 4.2% 1.6% -0.1% 8.4% 5.7%
1 Year Return vs Industry and Market
  • No trading data on PJO.
  • No trading data on PJO.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is Project One Resources undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
  • It is not possible to calculate the future cash flow value for Project One Resources. This is due to cash flow or dividend data being unavailable. The share price is CA$0.19.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Project One Resources's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Project One Resources's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
CNSX:PJO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-08-31) in CAD CA$-3.79
CNSX:PJO Share Price ** CNSX (2019-08-30) in CAD CA$0.19
Canada Metals and Mining Industry PE Ratio Median Figure of 99 Publicly-Listed Metals and Mining Companies 14.39x
Canada Market PE Ratio Median Figure of 539 Publicly-Listed Companies 14.14x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Project One Resources.

CNSX:PJO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= CNSX:PJO Share Price ÷ EPS (both in CAD)

= 0.19 ÷ -3.79

-0.05x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Project One Resources is loss making, we can't compare its value to the CA Metals and Mining industry average.
  • Project One Resources is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does Project One Resources's expected growth come at a high price?
Raw Data
CNSX:PJO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -0.05x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Canada Metals and Mining Industry PEG Ratio Median Figure of 31 Publicly-Listed Metals and Mining Companies 1.06x
Canada Market PEG Ratio Median Figure of 245 Publicly-Listed Companies 1.02x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Project One Resources, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Project One Resources's assets?
Raw Data
CNSX:PJO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-08-31) in CAD CA$0.02
CNSX:PJO Share Price * CNSX (2019-08-30) in CAD CA$0.19
Canada Metals and Mining Industry PB Ratio Median Figure of 1,098 Publicly-Listed Metals and Mining Companies 1.45x
Canada Market PB Ratio Median Figure of 2,457 Publicly-Listed Companies 1.43x
CNSX:PJO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= CNSX:PJO Share Price ÷ Book Value per Share (both in CAD)

= 0.19 ÷ 0.02

10.92x

* Primary Listing of Project One Resources.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Project One Resources is overvalued based on assets compared to the CA Metals and Mining industry average.
X
Value checks
We assess Project One Resources's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. Project One Resources has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Project One Resources expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Project One Resources has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
34.8%
Expected Metals and Mining industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Project One Resources expected to grow at an attractive rate?
  • Unable to compare Project One Resources's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Project One Resources's earnings growth to the Canada market average as no estimate data is available.
  • Unable to compare Project One Resources's revenue growth to the Canada market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
CNSX:PJO Future Growth Rates Data Sources
Data Point Source Value (per year)
Canada Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 34.8%
Canada Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 6.5%
Canada Market Earnings Growth Rate Market Cap Weighted Average 12.6%
Canada Market Revenue Growth Rate Market Cap Weighted Average 5.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
CNSX:PJO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 year ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
CNSX:PJO Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2018-08-31 0 0

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Project One Resources is high growth as no earnings estimate data is available.
  • Unable to determine if Project One Resources is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
CNSX:PJO Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 year ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Project One Resources Company Filings, last reported 1 year ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CNSX:PJO Past Financials Data
Date (Data in CAD Millions) EPS *
2018-08-31 -3.79

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Project One Resources will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine Project One Resources's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  2. Project One Resources's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Materials companies here
  3. Project One Resources's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Project One Resources's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Project One Resources has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Project One Resources performed over the past 5 years?

  • Project One Resources's last earnings update was 304 days ago.
The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Project One Resources's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Project One Resources does not make a profit and there is insufficient past data to establish if their 5 year on year earnings growth rate was positive.
  • Unable to compare Project One Resources's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Project One Resources's 1-year growth to the CA Metals and Mining industry average as it is not currently profitable.
Earnings and Revenue History
Project One Resources's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Project One Resources Company Filings, last reported 1 year ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CNSX:PJO Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-08-31 -0.22 0.22

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Project One Resources has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Project One Resources has efficiently used its assets last year compared to the CA Metals and Mining industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Project One Resources improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Project One Resources's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Project One Resources has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Project One Resources's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Project One Resources's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Project One Resources is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Project One Resources has no long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Project One Resources's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Project One Resources has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Project One Resources Company Filings, last reported 1 year ago.

CNSX:PJO Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-08-31 0.10 0.00 0.07
  • Project One Resources has no debt.
  • Project One Resources has not taken on any debt in the past 5 years.
  • Project One Resources has no debt, it does not need to be covered by operating cash flow.
  • Project One Resources has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Project One Resources's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Project One Resources has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Project One Resources's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Project One Resources dividends.
If you bought CA$2,000 of Project One Resources shares you are expected to receive CA$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Project One Resources's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Project One Resources's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
CNSX:PJO Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Canada Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 28 Stocks 1.1%
Canada Market Average Dividend Yield Market Cap Weighted Average of 334 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.1%
Canada Bottom 25% Dividend Yield 25th Percentile 2%
Canada Top 25% Dividend Yield 75th Percentile 5.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Project One Resources has not reported any payouts.
  • Unable to verify if Project One Resources's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Project One Resources's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Project One Resources has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Project One Resources's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Project One Resources afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Project One Resources has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Project One Resources's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Ron Shenton
AGE 62
CEO Bio

Mr. Ronald Gordon Shenton, also known as Ron, served as President of Fandom Sports Media Corp. from December 1, 2009 to September 4, 2015. Mr. Shenton served as President of Tosca Resources Corp. since December 01, 2009 and served as its Chief Executive Officer and Chairman until March 03, 2011. He served as the Chief Executive Officer and President of Infinity Minerals Corp. until September 8, 2014. He has some experience in the investment community. He began in 1985 working as an investment advisor for a national brokerage firm, before moving to a local brokerage firm working to fund start- up companies. Since then, he involved in several companies, performing various tasks including fund raising, investor relations, consulting on acquisitions and restructuring. Mr. Shenton has been a Director of Tosca Mining Corp. since December 1, 2009. He served as a Director of Infinity Minerals Corp. since November 12, 2010. He served as Director of ASB Capital Inc. from June 11, 2014 to May 1, 2015. Mr. Shenton serves as President, Chief Executive Officer at Project One Resources Ltd and serves as its Director since March 22, 2018.

CEO Compensation
  • Insufficient data for Ron to compare compensation growth.
  • Insufficient data for Ron to establish whether their remuneration is reasonable compared to companies of similar size in Canada.
Management Team

Ron Shenton

TITLE
President
AGE
62

Brian Roberts

TITLE
Secretary
AGE
74
Board of Directors Tenure

Average tenure and age of the Project One Resources board of directors in years:

1.5
Average Tenure
62
Average Age
  • The average tenure for the Project One Resources board of directors is less than 3 years, this suggests a new board.
Board of Directors

Ron Shenton

TITLE
President
AGE
62
TENURE
1.5 yrs

Brian Roberts

TITLE
Secretary
AGE
74
TENURE
1.5 yrs

Jordan Lipton

TITLE
Director
AGE
32
TENURE
2.1 yrs

Jon George

TITLE
Director
AGE
62
TENURE
1.1 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Project One Resources individual insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
26. Aug 19 Buy Ronald Shenton Individual 26. Aug 19 26. Aug 19 11,000 CA$0.20 CA$2,100
01. Aug 19 Buy Ronald Shenton Individual 01. Aug 19 01. Aug 19 19,000 CA$0.20 CA$3,800
12. Jul 19 Buy Ronald Shenton Individual 12. Jul 19 12. Jul 19 21,000 CA$0.20 CA$4,200
12. Jun 19 Buy Ronald Shenton Individual 12. Jun 19 12. Jun 19 200,000 CA$0.10 CA$20,000
X
Management checks
We assess Project One Resources's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Project One Resources has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Project One Resources Ltd. engages in the acquisition, exploration, and evaluation of resource properties in Canada. The company was incorporated in 2018 and is headquartered in Vancouver, British Columbia.

Details
Name: Project One Resources Ltd.
PJO
Exchange: CNSX
Founded: 2018
CA$1,869,747
9,840,777
Website: http://p1r.ca
Address: Project One Resources Ltd.
409 Granville Street,
Suite 459,
Vancouver,
British Columbia, V6C 1T2,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
CNSX PJO Common Shares Canadian National Stock Exchange CA CAD 12. Jun 2019
Number of employees
Current staff
Staff numbers
0
Project One Resources employees.
Industry
Diversified Metals and Mining
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/09/22 00:44
End of day share price update: 2019/08/30 00:00
Last earnings filing: 2018/11/22
Last earnings reported: 2018/08/31
Last annual earnings reported: 2018/08/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.