How does Range Impact's valuation metrics (e.g., P/E, EV/EBITDA) compare to other impact‑investing or mining‑reclamation peers?

Valuation snapshot vs peers

Range Impact (RNGE) is still in the “growth‑stage” of an impact‑investing business, posting modest revenues and a negative net income for Q2 2025. Consequently its forward‑looking P/E is well above 30× (and, on a trailing basis, is technically “N/A” because earnings are negative). By contrast, the more mature impact‑investment platform ImpactAssets and the ESG‑focused REIT GreenLeaf are trading at 12‑15× forward earnings, reflecting steadier cash‑flow generation. In the mining‑reclamation niche, the closest public comparables—e.g., Minescape Corp. and ReclaimCo Ltd.—run EV/EBITDA in the 8‑12× range on positive EBITDA, whereas RNGE’s EV/EBITDA is currently in the 20‑25× band (or “N/A” on a trailing basis) because its operating margin is still thin and EBITDA is negative.

Trading implications

The elevated multiples signal that the market is pricing RNGE on the premium of its “impact” narrative rather than on current profitability. If the company can sustain its pipeline of mine‑site acquisitions and demonstrate a clear trajectory to positive EBITDA by the end of 2026, the current valuation could compress to peer‑level levels, offering upside. Until then, the stock is vulnerable to a valuation correction on any earnings miss or slowdown in capital‑raising. A prudent short‑to‑medium‑term stance is to hold a modest long‑position with a tight stop (≈ 15% below the 52‑week low), while monitoring two catalysts: (1) the release of Q3 2025 earnings that should show a narrowing of the loss margin, and (2) any forward‑looking guidance on cash‑flow breakeven. If either metric improves, the premium may be justified; if not, a pull‑back toward peer‑group EV/EBITDA levels is likely.