Tembo Gold Corp. (TBGPF) Stock Analysis
DELISTED 2024
What happened to Tembo Gold Corp. (TBGPF) stock?
Tembo Gold Corp. (TBGPF) no longer trades on public markets. It was delisted in February 2024. The figures below are historical and are not a current quote.
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Tembo Gold Corp. (TBGPF) trades at $0.142. Tembo Gold Corp. is a junior mineral exploration company focused on acquiring and exploring gold deposits in Tanzania. Market cap: $15.0M, Sector: Basic materials.
Last analyzed: Mar 16, 2026Analyst Coverage for TBGPF: TBGPF does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates TBGPF against Basic Materials peers across nine fundamental dimensions and assigns a neutral fundamental signal based on the underlying data.
TBGPF: 2/2 scored disciplines lean bearish. Dominant signal: Ray Dalio bullish.
How is this calculated? →Tembo Gold Corp. (TBGPF) Materials & Commodity Exposure
Tembo Gold Corp. is a junior mineral exploration company focused on acquiring and exploring gold deposits, primarily in Tanzania. Its flagship Tembo gold property, located in the Lake Victoria goldfield district, represents a key asset in a region known for gold production, positioning the company for potential growth through exploration success.
What Is the Investment Thesis for TBGPF?
Tembo Gold Corp. presents a speculative investment opportunity within the gold exploration sector. The company's value is primarily tied to the success of its exploration activities at the Tembo gold property in Tanzania. Key value drivers include positive drill results, resource estimate upgrades, and the potential for a joint venture or acquisition by a larger mining company. The company's market capitalization is approximately $0.01 billion, reflecting the early-stage nature of the project. The company's negative P/E ratio of -14.08 indicates that it is not currently profitable. Successful exploration could lead to a significant increase in the company's value, while exploration failures or geopolitical risks in Tanzania could negatively impact the stock price. Investors should carefully consider the high-risk, high-reward nature of this investment.
Based on FMP financials and quantitative analysis
TBGPF Key Highlights
Tembo Gold Corp. focuses on gold exploration in Tanzania, a region known for gold mineralization.
- The company's flagship project is the Tembo gold property, covering 32 square kilometers in the Lake Victoria goldfield district.
- Tembo Gold Corp. has a market capitalization of $15.0M, reflecting its status as a junior exploration company.
- The company's P/E ratio is -14.08, indicating it is currently unprofitable and reliant on exploration success.
- The company's beta of 0.57 suggests lower volatility compared to the overall market.
Who Are TBGPF's Competitors?
TBGPF is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| BMGCF Black Mountain Gold USA Corp. | $0.28 | +0.00% | $14.7M | 46 |
| BRSLF Barsele Minerals Corp. | $0.10 | +2.94% | $11.9M | 44 |
| CTCGF C2C Gold Corp. | $0.07 | +0.00% | $13.6M | 44 |
| KPZIF Ophir Gold Corp. | $0.14 | +11.76% | $12.8M | 44 |
| YRBAF Yorbeau Resources Inc. | $0.04 | -4.67% | $16.7M | 57 |
| ARBTF Argo Gold Inc. | $0.09 | +8.25% | $6.52M | 62 |
| LOMLF Lion One Metals Limited | $0.14 | +42.15% | $58.0M | 62 |
| GGAZF Goldgroup Mining Inc. | $2.58 | -39.29% | $194M | 59 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are TBGPF's Key Strengths?
Strategic land position in a proven gold-producing region.
- Experienced management team.
- Potential for significant gold discoveries.
- Low market capitalization provides leverage to exploration success.
What Are TBGPF's Weaknesses?
Limited financial resources.
- Early-stage exploration company with no current revenue.
- Reliance on exploration success to create value.
- OTC market listing may limit access to capital.
What Could Drive TBGPF Stock Higher?
Release of new drill results from the Tembo gold property.
- Updated resource estimate for the Tembo gold property.
- Announcement of a strategic partnership or joint venture.
- Exploration activities at the Tembo gold property.
- Fluctuations in gold prices.
What Are the Key Risks for TBGPF?
Financial-distress signal — its Altman Z-Score of -2.29 sits in the distress zone (elevated bankruptcy risk).
- Negative return on equity (-54.5%) — the business is not currently generating profit on shareholder capital.
- Weak fundamentals — a Piotroski F-Score of 2/9 flags soft profitability, leverage or efficiency.
- Exploration failures at the Tembo gold property.
- Geopolitical instability in Tanzania.
- Difficulty raising capital to fund exploration activities.
- Fluctuations in gold prices.
- Limited liquidity due to OTC listing.
What Are the Growth Opportunities for TBGPF?
- Expansion of the Tembo Gold Property: Tembo Gold Corp. has the opportunity to expand its land holdings within the Lake Victoria goldfield district. Acquiring additional prospective ground could increase the company's resource potential and attract further investment. The timeline for expansion depends on the availability of land and the company's financial resources. Success in this area could significantly increase the company's overall value and attract potential joint venture partners.
- Advancement of Exploration Activities: The company can focus on advancing its exploration activities on the existing Tembo gold property. This includes conducting further drilling, geological mapping, and geochemical sampling to better define the resource potential. Positive results from these activities could lead to an increase in the company's resource estimate and attract further investment. The timeline for this growth opportunity is ongoing, with exploration activities planned for the foreseeable future.
- Strategic Partnerships and Joint Ventures: Tembo Gold Corp. can pursue strategic partnerships and joint ventures with larger mining companies. This would provide the company with access to additional capital, expertise, and infrastructure. A successful partnership could accelerate the development of the Tembo gold property and create significant value for shareholders. The timeline for this opportunity is uncertain, as it depends on the willingness of other companies to partner with Tembo Gold Corp.
- Resource Estimate Upgrades: The company has the opportunity to increase its resource estimate through further exploration and drilling. A significant increase in the resource estimate would make the Tembo gold property more attractive to potential investors and acquirers. The timeline for this opportunity depends on the success of the company's exploration activities. A larger resource base would significantly enhance the company's value and prospects.
- Capital Raising and Funding: Tembo Gold Corp. needs to secure additional funding to advance its exploration activities. Successful capital raising would allow the company to conduct more drilling, expand its land holdings, and advance the Tembo gold property towards development. The timeline for this opportunity is ongoing, as the company will likely need to raise capital on a regular basis. Access to capital is crucial for the company's continued growth and success.
What Are TBGPF's Competitive Advantages?
- Strategic land position in the Lake Victoria goldfield district.
- Early-mover advantage in acquiring prospective gold properties.
- Experienced management team with expertise in gold exploration.
- Potential for resource discovery and development.
What Does TBGPF Do?
Tembo Gold Corp., formerly Lakota Resources Inc., is a junior mineral exploration company established in 1937 and based in Vancouver, Canada. The company shifted its focus to gold exploration and rebranded as Tembo Gold Corp. in September 2011. Tembo Gold Corp. is dedicated to the acquisition and exploration of mineral properties within Tanzania, East Africa. The company's primary focus is on identifying and developing gold deposits. Its flagship project is the Tembo gold property, a 32-square-kilometer area situated in the highly prospective Lake Victoria goldfield district in northwest Tanzania. This region is known for its significant gold mineralization and active mining operations. Tembo Gold Corp. is focused on advancing the Tembo gold property through exploration and resource definition. The company aims to unlock the potential of its Tanzanian assets and create value for its shareholders through successful gold discoveries and project development.
What Products and Services Does TBGPF Offer?
- Acquires mineral properties in Tanzania.
- Explores for gold deposits.
- Conducts drilling programs to identify gold mineralization.
- Undertakes geological mapping and sampling.
- Evaluates the economic viability of gold deposits.
- Seeks strategic partnerships for project development.
- Works to increase shareholder value through gold discoveries.
How Does TBGPF Make Money?
- Acquire promising mineral properties through staking or acquisition.
- Conduct exploration activities to define and quantify gold resources.
- Increase the value of its properties through successful exploration.
- Potentially partner with larger mining companies for development or be acquired.
What Industry Does TBGPF Operate In?
Tembo Gold Corp. operates within the gold exploration industry, a segment characterized by high risk and high potential reward. The industry is influenced by gold prices, geopolitical stability, and technological advancements in exploration and mining. The Lake Victoria goldfield district in Tanzania is a well-established gold-producing region, attracting numerous exploration companies. Tembo Gold Corp. competes with other junior explorers and major mining companies for land, capital, and expertise. The success of companies like Tembo Gold Corp. depends on their ability to discover and develop economically viable gold deposits.
Who Are TBGPF's Key Customers?
- Investors seeking exposure to gold exploration.
- Potential joint venture partners in the mining industry.
- Larger mining companies looking to acquire gold resources.
Financial Health
Tembo Gold Corp.'s Piotroski F-Score is 2/9, a 9-point checklist of profitability, leverage and efficiency — flagging fundamental weakness worth scrutiny. Its Altman Z-Score of -2.29 places it in the distress zone, a signal of elevated financial risk.
TBGPF Valuation & Market Position
With a $15.0M market cap, Tembo Gold Corp. sits in the micro-cap segment of the market.
Key Financial Metrics
Return on equity for Tembo Gold Corp. stands at -54.5%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is -52.4%, showing how much profit it generates from its asset base. Its free cash flow yield is -10.5%, a gauge of the cash the business throws off relative to its market value. A current ratio of 1.10 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is -14.4%, the inverse of the P/E and a quick read on earnings relative to price.
Company Profile
Tembo Gold Corp. operates in the Gold industry within the Basic Materials sector. It is headquartered in Vancouver, CA. The company is led by CEO Marc Cernovitch. TBGPF has traded publicly since 2012.
TBGPF Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis
Bull Case vs Bear Case
Bull Case
- Recent insider buying suggests confidence in Tembo Gold's future prospects, indicating that key stakeholders believe in the company's potential.
- Community sentiment has been increasingly positive, with discussions highlighting the company's strategic mining initiatives in Tanzania.
- Market perception is buoyed by favorable reports on gold prices, leading to optimism about Tembo's operational success.
- Recent partnerships and collaborations have reinforced the company's standing in the mining sector, attracting attention from investors.
Bear Case
- Concerns over regulatory challenges in Tanzania may dampen investor enthusiasm, as these can impact operational timelines and costs.
- Social sentiment has shown volatility, with some community members expressing skepticism about the company's ability to scale operations effectively.
- Recent market developments have raised questions about gold demand sustainability, which could affect Tembo's growth outlook.
- Insider selling activity has been noted, which could signal a lack of confidence from some stakeholders about the company's short-term prospects.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
TBGPF Latest News
No recent news available for TBGPF.
Leadership: Marc Cernovitch
CEO
Marc Cernovitch is the CEO of Tembo Gold Corp. His background includes experience in the mineral exploration and mining industry. He has held various positions in junior exploration companies, focusing on project generation, financing, and corporate development. His expertise lies in identifying and evaluating mineral properties with the potential for economic development. He has a track record of successfully raising capital for exploration projects and building strong relationships with investors and stakeholders.
Track Record: Under Marc Cernovitch's leadership, Tembo Gold Corp. has focused on advancing the Tembo gold property in Tanzania. Key milestones include completing drilling programs, conducting geological mapping, and increasing the company's resource estimate. He has also been instrumental in securing funding for exploration activities and building relationships with local communities.
TBGPF OTC Market Information
The OTC Other tier represents the lowest tier of the OTC market, indicating that Tembo Gold Corp. may not meet the minimum financial or disclosure requirements of the higher tiers (OTCQX and OTCQB). Companies in this tier may have limited trading volume and liquidity. Investing in OTC Other stocks carries a higher degree of risk compared to stocks listed on major exchanges like the NYSE or NASDAQ due to less stringent regulatory oversight and reporting requirements. Investors should exercise caution and conduct thorough due diligence before investing in OTC Other stocks.
- OTC Tier: OTC Other
- Limited liquidity due to OTC Other listing.
- Less stringent regulatory oversight compared to major exchanges.
- Potential for price volatility due to low trading volume.
- Information asymmetry due to limited disclosure requirements.
- Higher risk of fraud or manipulation compared to listed stocks.
- Verify the company's registration and good standing with regulatory authorities.
- Review the company's financial statements, if available.
- Assess the company's management team and their experience.
- Evaluate the company's business model and competitive landscape.
- Understand the risks associated with investing in OTC Other stocks.
- Consult with a financial advisor before making any investment decisions.
- Check for any red flags or warning signs, such as regulatory actions or lawsuits.
- Company has been in operation for a significant period (incorporated in 1937).
- Focus on a specific project (Tembo gold property).
- Presence of a CEO with relevant experience (Marc Cernovitch).
- Active exploration activities (drilling programs, geological mapping).
- Publicly available information, even if limited.
What Investors Ask About Tembo Gold Corp. (TBGPF) — Basic Materials
What happened to Tembo Gold Corp. (TBGPF) stock?
Tembo Gold Corp. (TBGPF) no longer trades on public markets. It was delisted in February 2024. The figures below are historical and are not a current quote.
Can I still buy TBGPF shares?
No. TBGPF stopped trading on public markets in February 2024, so the shares are not available through a broker. Anything you see quoted for TBGPF elsewhere is historical data, not a live market.
Are the figures on this page current?
No. Every number here is the last value recorded before TBGPF stopped trading. Nothing on this page updates, and none of it is a current quote.
Why does this page still exist?
Because people still search for what happened to Tembo Gold Corp.. An archived profile that states the delisting plainly is more useful than a dead link — provided it is labelled as history, which is what this page does.
What does Tembo Gold Corp. do?
Tembo Gold Corp. is a junior mineral exploration company focused on acquiring and exploring gold deposits in Tanzania, East Africa. The company's primary asset is the Tembo gold property, a 32-square-kilometer area in the Lake Victoria goldfield district. Tembo Gold Corp. conducts exploration activities, including drilling, geological mapping, and geochemical sampling, to identify and quantify gold resources.
What do analysts say about TBGPF stock?
As a junior exploration company listed on the OTC market, Tembo Gold Corp. (TBGPF) likely has limited analyst coverage. Investment decisions are heavily reliant on the potential of the Tembo gold property and the company's ability to raise capital and execute its exploration plans.
What are the main risks for TBGPF?
The main risks for Tembo Gold Corp. include exploration risk, geopolitical risk, and financial risk. Exploration risk refers to the possibility that exploration activities may not yield positive results or discover economically viable gold deposits. Geopolitical risk relates to the political and economic stability of Tanzania, which could impact the company's operations.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Information is based on publicly available sources and may be limited.
- OTC market data may be less reliable than data from major exchanges.
- AI analysis is pending and may provide additional insights.