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CGLCF (Cassiar Gold) Beneish M-Score : 0.00 (As of Mar. 04, 2025)


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What is Cassiar Gold Beneish M-Score?

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

The historical rank and industry rank for Cassiar Gold's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Cassiar Gold was 0.00. The lowest was 0.00. And the median was 0.00.

Cassiar Gold Beneish M-Score Historical Data

The historical data trend for Cassiar Gold's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Cassiar Gold Beneish M-Score Chart

Cassiar Gold Annual Data
Trend Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24
Beneish M-Score
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Cassiar Gold Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - - - -

Competitive Comparison of Cassiar Gold's Beneish M-Score

For the Gold subindustry, Cassiar Gold's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Cassiar Gold's Beneish M-Score Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Cassiar Gold's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Cassiar Gold's Beneish M-Score falls into.


Cassiar Gold Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Cassiar Gold for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Sep24) TTM:Last Year (Sep23) TTM:
Total Receivables was $0.13 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was -0.04 + -0.015 + -0.016 + -0.024 = $-0.10 Mil.
Total Current Assets was $3.95 Mil.
Total Assets was $12.17 Mil.
Property, Plant and Equipment(Net PPE) was $6.98 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.10 Mil.
Selling, General, & Admin. Expense(SGA) was $1.78 Mil.
Total Current Liabilities was $0.98 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -4.586 + -0.392 + -0.368 + -0.212 = $-5.56 Mil.
Non Operating Income was 0.365 + 0.07 + 0.037 + 0.255 = $0.73 Mil.
Cash Flow from Operations was -4.242 + -0.012 + -0.4 + -1.383 = $-6.04 Mil.
 Total Receivables was $0.22 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was -0.025 + -0.026 + -0.025 + -0.025 = $-0.10 Mil.
Total Current Assets was $3.75 Mil.
Total Assets was $11.62 Mil.
Property, Plant and Equipment(Net PPE) was $6.78 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.10 Mil.
Selling, General, & Admin. Expense(SGA) was $1.80 Mil.
Total Current Liabilities was $1.87 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(0.133 / 0) / (0.218 / 0)
= /
=

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(-0.101 / 0) / (-0.095 / 0)
= /
=

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (3.947 + 6.978) / 12.173) / (1 - (3.752 + 6.779) / 11.618)
=0.102522 / 0.093562
=

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=0 / 0
=

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(0.101 / (0.101 + 6.779)) / (0.095 / (0.095 + 6.978))
=0.01468 / 0.013431
=

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(1.782 / 0) / (1.803 / 0)
= /
=

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((0 + 0.984) / 12.173) / ((0 + 1.867) / 11.618)
=0.080835 / 0.160699
=

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(-5.558 - 0.727 - -6.037) / 12.173
=-0.020373

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Cassiar Gold Beneish M-Score Related Terms

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Cassiar Gold Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Cassiar Gold Corp (OTCPK:CGLCF) » Definitions » Beneish M-Score
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Traded in Other Exchanges
756:Germany GLDC:Canada
Address
505 Burrard Street, Suite 1580, Vancouver, BC, CAN, V7X 1M5
Website
https://www.cassiargold.com
Cassiar Gold Corp is focused on the district-scale Cassiar Gold Property in northern BC, Canada. The group is engaged in the exploration of gold in British Columbia, Canada. The company is focused on two assets, the Cassiar Gold Project and the Sheep Creek Gold District. The property consists of two main project areas namely Cassiar North, which hosts a substantial bulk-tonnage orogenic gold resource with expansion potential over approximately 6 km strike length; and Cassiar South, which hosts numerous high-grade epizonal quartz gold vein systems, about 25 km of historical underground workings.