Cash Burn Analysis for ATEX Resources: Assessing the Company's Cash Runway and Potential for Future Financing

ATEX Resources has CA$26m in cash and a CA$41m cash burn over the last year, resulting in an 8-month cash runway. Analysts forecast the company will break even in 3 years, or require more cash. Cash burn has increased by 57% over the last year, which could shrink the cash runway quickly. Shareholders should consider the company's ability to raise cash to fund its growth.

Recent insider buying activity in small-cap stocks has caught the attention of investors, providing insights into the longer-term outlook for these companies. In September, CEOs of several small-cap companies made notable purchases, including Star Equity Holdings (STRR), Anterix (ATEX), and Energy Vault (NRGV).

Star Equity Holdings, a diversified holding company, saw its CEO make several purchases in September, now holding roughly 660k shares. Over the past three months, STRR shares have gained 35%, with a significant boost following last week’s Fed meeting Insider Buys: 3 Small-Cap Stocks CEOs are Buying^[1].

Anterix, a wireless communications company, saw its CEO make a $100k purchase near mid-September, acquiring roughly 4.6k ATEX shares. While ATEX shares have faced pressure over the last three months, they have seen decent strength off 2025 lows, still underperforming relative to the S&P 500 Insider Buys: 3 Small-Cap Stocks CEOs are Buying^[1].

Energy Vault, a developer of sustainable energy storage solutions, saw its CEO make a big splash, picking up roughly 67.5k NRGV shares. Over the past three months, NRGV shares have more than tripled, crushing the S&P 500’s 12% gain Insider Buys: 3 Small-Cap Stocks CEOs are Buying^[1].

These insider purchases should not be strictly relied upon for near-term performance, as insiders’ holding periods are longer than most, and many strict rules apply. However, they can provide a net positive outlook concerning the longer-term prospects of these companies.

ATEX Resources, another small-cap stock, has CA$26m in cash and a CA$41m cash burn over the last year, resulting in an 8-month cash runway. Analysts forecast the company will break even in 3 years, or require more cash. Cash burn has increased by 57% over the last year, which could shrink the cash runway quickly. Shareholders should consider the company's ability to raise cash to fund its growth Insider Buys: 3 Small-Cap Stocks CEOs are Buying^[1].