Comet Lithium Corporation
Comet Lithium Corporation, a lithium-focused exploration company, engages in the acquiring, exploring, and developing mining properties in Canada. The company explores for lithium and gold deposits. Its flagship property is the 100% owned Liberty Property comprising 38 mining claims located in James Bay, Québec. The company was formerly known as X-Terra Resources Inc. and changed its name to Come… Read more
Comet Lithium Corporation (8QY) - Net Assets
Latest net assets as of September 2025: €6.43 Million EUR
Based on the latest financial reports, Comet Lithium Corporation (8QY) has net assets worth €6.43 Million EUR as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€6.74 Million) and total liabilities (€312.06K). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €6.43 Million |
| % of Total Assets | 95.37% |
| Annual Growth Rate | 14.74% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 15.78 |
Comet Lithium Corporation - Net Assets Trend (2021–2024)
This chart illustrates how Comet Lithium Corporation's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Comet Lithium Corporation (2021–2024)
The table below shows the annual net assets of Comet Lithium Corporation from 2021 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | €6.58 Million | +1.68% |
| 2023-12-31 | €6.47 Million | +37.81% |
| 2022-12-31 | €4.70 Million | +7.82% |
| 2021-12-31 | €4.36 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Comet Lithium Corporation's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 480539500.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | €48.64 Million | 739.29% |
| Total Equity | €6.58 Million | 100.00% |
Comet Lithium Corporation Competitors by Market Cap
The table below lists competitors of Comet Lithium Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Itway S.p.A
F:IW3
|
$5.41 Million |
|
TFLM
OTCQB:TFLM
|
$5.41 Million |
|
Torr Metals Inc
V:TMET
|
$5.41 Million |
|
International Media Acquisition Corp
NASDAQ:IMAQ
|
$5.41 Million |
|
Sono Group N.V.
OTCQB:SEVCF
|
$5.40 Million |
|
Bangsaphan Barmill Public Company Limited
BK:BSBM
|
$5.40 Million |
|
Episurf Medical AB (publ)
ST:EPIS-B
|
$5.40 Million |
|
Crosswood
PA:CROS
|
$5.40 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Comet Lithium Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 6,470,803 to 6,579,743, a change of 108,940 (1.7%).
- Net loss of 1,000,886 reduced equity.
- New share issuances of 832,629 increased equity.
- Other factors increased equity by 277,197.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €-1.00 Million | -15.21% |
| Share Issuances | €832.63K | +12.65% |
| Other Changes | €277.20K | +4.21% |
| Total Change | €- | 1.68% |
Book Value vs Market Value Analysis
This analysis compares Comet Lithium Corporation's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.93x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has increased from 0.66x to 0.93x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2021-12-31 | €0.31 | €0.21 | x |
| 2022-12-31 | €0.29 | €0.21 | x |
| 2023-12-31 | €0.26 | €0.21 | x |
| 2024-12-31 | €0.22 | €0.21 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Comet Lithium Corporation utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -15.21%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.00%
- • Asset Turnover: 0.00x
- • Equity Multiplier: 1.08x
- Recent ROE (-15.21%) is above the historical average (-23.12%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2021 | -16.49% | 0.00% | 0.00x | 1.04x | €-1.15 Million |
| 2022 | -7.26% | 0.00% | 0.00x | 1.21x | €-810.40K |
| 2023 | -53.53% | 0.00% | 0.00x | 1.16x | €-4.11 Million |
| 2024 | -15.21% | 0.00% | 0.00x | 1.08x | €-1.66 Million |
Industry Comparison
This section compares Comet Lithium Corporation's net assets metrics with peer companies in the Other Precious Metals & Mining industry.
Industry Context
- Industry: Other Precious Metals & Mining
- Average net assets among peers: $413,420,496
- Average return on equity (ROE) among peers: -96.10%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Comet Lithium Corporation (8QY) | €6.43 Million | -16.49% | 0.05x | $5.40 Million |
| 1AH (1AH) | $21.46 Million | -87.57% | 0.38x | $1.10 Billion |
| 1ZX0 (1ZX0) | $8.68 Million | -40.12% | 0.06x | $3.72 Million |
| Copper Giant Resources Corp. (29H0) | $2.90 Million | -472.77% | 0.36x | $55.85 Million |
| China Silver Group Limited (2CS) | $3.65 Billion | 6.24% | 0.24x | $110.10 Million |
| Visionary Metals Corp. (339) | $3.90 Million | -17.29% | 0.15x | $5.42 Million |
| King Copper Discovery Corp. (3RI0) | $1.90 Million | -213.64% | 0.26x | $125.97 Million |
| Coppermoly Limited (5C5) | $19.52 Million | -6.21% | 0.12x | $1.48 Million |
| 5YY0 (5YY0) | $10.98 Million | 6.69% | 0.36x | $9.93 Million |
| ALLIANCE ONE INT (DM8) | $4.72 Million | -40.20% | 0.44x | $1.89 Million |