Is Antimony Resources (CSE:ATMY) In A Good Position To Invest In Growth?

Even when a business is losing money, it’s possible for shareholders to make money if they buy a good business at the right price. By way of example, Antimony Resources (CSE:ATMY) has seen its share price rise 1,460% over the last year, delighting many shareholders. But the harsh reality is that very many loss making companies burn through all their cash and go bankrupt.

Given its strong share price performance, we think it’s worthwhile for Antimony Resources shareholders to consider whether its cash burn is concerning. In this report, we will consider the company’s annual negative free cash flow, henceforth referring to it as the ‘cash burn’. The first step is to compare its cash burn with its cash reserves, to give us its ‘cash runway’.

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Does Antimony Resources Have A Long Cash Runway?

A company’s cash runway is calculated by dividing its cash hoard by its cash burn. When Antimony Resources last reported its November 2025 balance sheet in January 2026, it had zero debt and cash worth CA$1.9m. Looking at the last year, the company burnt through CA$3.7m. So it had a cash runway of approximately 6 months from November 2025. To be frank, this kind of short runway puts us on edge, as it indicates the company must reduce its cash burn significantly, or else raise cash imminently. You can see how its cash balance has changed over time in the image below.

View our latest analysis for Antimony Resources

How Is Antimony Resources’ Cash Burn Changing Over Time?

Antimony Resources didn’t record any revenue over the last year, indicating that it’s an early stage company still developing its business. So while we can’t look to sales to understand growth, we can look at how the cash burn is changing to understand how expenditure is trending over time. Its cash burn positively exploded in the last year, up 953%. With that kind of spending growth its cash runway will shorten quickly, as it simultaneously uses its cash while increasing the burn rate. Admittedly, we’re a bit cautious of Antimony Resources due to its lack of significant operating revenues. We prefer most of the stocks on this list of stocks that analysts expect to grow.

How Easily Can Antimony Resources Raise Cash?

Given its cash burn trajectory, Antimony Resources shareholders should already be thinking about how easy it might be for it to raise further cash in the future. Issuing new shares, or taking on debt, are the most common ways for a listed company to raise more money for its business. Commonly, a business will sell new shares in itself to raise cash and drive growth. By looking at a company’s cash burn relative to its market capitalisation, we gain insight on how much shareholders would be diluted if the company needed to raise enough cash to cover another year’s cash burn.

Since it has a market capitalisation of CA$143m, Antimony Resources’ CA$3.7m in cash burn equates to about 2.6% of its market value. That means it could easily issue a few shares to fund more growth, and might well be in a position to borrow cheaply.

Is Antimony Resources’ Cash Burn A Worry?

Even though its increasing cash burn makes us a little nervous, we are compelled to mention that we thought Antimony Resources’ cash burn relative to its market cap was relatively promising. Summing up, we think the Antimony Resources’ cash burn is a risk, based on the factors we mentioned in this article. Separately, we looked at different risks affecting the company and spotted 6 warning signs for Antimony Resources (of which 5 are a bit concerning!) you should know about.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.