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Category: Junior: Late Stage Developer
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Midas Gold Corp
www: www.midasgoldcorp.com     email: info@midasgoldcorp.com

Profile
Notes
Forum
Your Data

Symbol Data

Symbol Currency
OTCMKTS:MDRPF USD
TSE:MAX CAD

Description

Midas Gold Corp are a gold focused junior, late stage development company with one mine in development in USA. They have approximately 7.4Moz. of gold in the reserves and resources category of which 5.4Moz. are in the measured and indicated category. They have a market capitalisation of ~$285.13M which is a rise of roughly 50% over the last twelve months. As of 09/30/2017 they have ~$22M debt and ~$25.26M cash. They have 186M shares outstanding and trade on the Toronto Stock Exchange and the over-the-counter markets.

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General Details

Financial 07/02/2017
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Mkt. Cap (FD): $189.85M $285.13M 07/02/2017 $95.28M
Total Assets: $104.66M $97.01M 09/30/2017 $-7.65M
Total Liabilities: $66.89M $58.90M 09/30/2017 $-7.99M
Current Assets: $33.35M $25.61M 09/30/2017 $-7.74M
Current Liabilities: $2.18M $1.82M 09/30/2017 $-0.36M
Total Debt: $19.99M $22.46M 09/30/2017 $2.47M
Cash: $33.01M $25.26M 09/30/2017 $-7.75M
Enterprise Value: $176.83M $282.33M 12/12/1978 $105.50M
Cash Flow: $0.00M $0.00M never $0.00M
Cash Flow Multiple: 0.00 0.00 never 0.00
Net Debt to
Cash Flow Ratio:
n/a n/a never 0.00
Finance within 1 year: 07/02/2017 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 07/02/2017 0.00%
Misc 07/02/2017
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Shares Outstanding: 180,450,000 186,310,000 09/30/2017 5,860,000
Shares (FD): 342,000,000 342,000,000 07/02/2017 0
Insider Ownership: n/a 37% 07/02/2017 37%
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a 01/01/2022 07/02/2017 n/a
Production (Gold Eq Oz.): (guess) 
0
(guess) 
0
07/02/2017 0
Production (Silver Eq Oz.): (guess) 
0
(guess) 
0
07/02/2017 0
Initial CapEx (Outstanding): $970.00M
510.92% of Mkt.Cap
$970.00M
340.19% of Mkt.Cap
07/02/2017 $0.00M
Funding Option: n/a n/a 07/02/2017 n/a
Documentation: none PFS 07/02/2017 n/a
Value Adjustment: none none never 0%

Resource Data

GOLD 07/02/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: n/a n/a 07/02/2017 0.00M
Measured & Indicated: 5.40M 5.40M 07/02/2017 0.00M
Inferred: 2.00M 2.00M 07/02/2017 0.00M
Reserves & Resources: 7.40M 7.40M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: n/a n/a 07/02/2017 0.00M
Measured & Indicated: 3.67M 3.67M 07/02/2017 0.00M
Inferred: 0.85M 0.85M 07/02/2017 0.00M
Reserves & Resources: 4.52M 4.52M never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 07/02/2017 $0.00
Extra Operating Cost: n/a n/a 07/02/2017 $0.00
Average Grade: 1.60 g/t 1.60 g/t 07/02/2017 n/a
Recovery Rate: (CG)  85.00% (CG)  85.00% 07/02/2017 0.00%
F
U
T
U
R
E
Proven & Probable: 6.00M 6.00M 07/02/2017 0.00M
Annual Production: 350,000oz. 350,000oz. 07/02/2017 0oz.
Cash Cost: $600 $600 07/02/2017 $0
Extra Operating Cost: $400 $400 07/02/2017 $0
SILVER 07/02/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: n/a n/a 07/02/2017 0.00M
Measured & Indicated: n/a n/a 07/02/2017 0.00M
Inferred: n/a n/a 07/02/2017 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: n/a n/a 07/02/2017 0.00M
Measured & Indicated: n/a n/a 07/02/2017 0.00M
Inferred: n/a n/a 07/02/2017 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 07/02/2017 $0.00
Extra Operating Cost: n/a n/a 07/02/2017 $0.00
Average Grade: n/a n/a 07/02/2017 n/a
Recovery Rate: n/a n/a 07/02/2017 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 07/02/2017 0.00M
Annual Production: n/a n/a 07/02/2017 n/a
Cash Cost: n/a n/a 07/02/2017 n/a
Extra Operating Cost: n/a n/a 07/02/2017 n/a

Property

Last Analysis Data  (07/02/2017)
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development Idaho, USA Stibnite 100% 10,000 Open Pit show
6.5 million oz resource (1.6 gpt).

3 open pit deposits.

Past producing mine. Historical tailing. Should be easier to permit.

Need permits.

Likely 3 years for permits.

PEA calls for $880 million capex and 350,000 oz of production for 12 years.

Cash costs of only $425 because of offsets in silver and antimony.

All-in costs around $700, but I'm targeting $900.

IRR of 27% after tax at $1400 gold.

NPV of $1.4 billion at $1400 gold.
Total Land Package Size (ha): 10,000  
Current Data
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development Idaho, USA Stibnite 100% 10,000 Open Pit show
6.5 million oz resource (1.6 gpt).

3 open pit deposits.

Past producing mine. Historical tailing. Should be easier to permit.

Need permits.

Likely 3 years for permits.

PEA calls for $880 million capex and 350,000 oz of production for 12 years.

Cash costs of only $425 because of offsets in silver and antimony.

All-in costs around $700, but I'm targeting $900.

IRR of 27% after tax at $1400 gold.

NPV of $1.4 billion at $1400 gold.
Total Land Package Size (ha): 10,000  

Profitability (by resource)

Proven &
Probable
07/02/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: n/a n/a n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): n/a n/a n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 0.00M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: n/a n/a n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 0.00M
Maximum Profit (Gold): n/a n/a n/a $0.00M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: n/a n/a n/a $0.00M
Max Profit / Current MCap: n/a n/a n/a 0.000
Max Profit Per Share (Gold): n/a n/a n/a $0.00
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: n/a n/a n/a $0.00
Total Free Profit Per Share: n/a n/a n/a $0.00
FD Mkt. Cap / Gold Eq.: n/a n/a n/a $0.00
FD Mkt. Cap / Silver Eq.: n/a n/a n/a $0.00
FD Mkt. Cap / Per Metal
as % Spot Price:
n/a n/a n/a 0.00%
Measured &
Indicated
07/02/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 5.40M 5.40M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 15.30M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 3.67M 3.67M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 10.40M
Maximum Profit (Gold): $619.98M $721.00M n/a $101.02M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $619.98M $721.00M n/a $101.02M
Max Profit / Current MCap: 3.266 2.529 n/a -0.737
Max Profit Per Share (Gold): $1.81 $2.11 n/a $0.30
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $1.81 $2.11 n/a $0.30
Total Free Profit Per Share: $1.09 $1.04 n/a $-0.05
FD Mkt. Cap / Gold Eq.: $51.70 $77.65 n/a $25.95
FD Mkt. Cap / Silver Eq.: $0.69 $1.00 n/a $0.31
FD Mkt. Cap / Per Metal
as % Spot Price:
4.17% 6.06% n/a 1.90%

Reserves &
Resources
07/02/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 7.40M 7.40M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 20.96M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 4.52M 4.52M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 12.81M
Maximum Profit (Gold): $763.49M $887.89M n/a $124.40M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $763.49M $887.89M n/a $124.40M
Max Profit / Current MCap: 4.021 3.114 n/a -0.908
Max Profit Per Share (Gold): $2.23 $2.60 n/a $0.36
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $2.23 $2.60 n/a $0.36
Total Free Profit Per Share: $1.51 $1.53 n/a $0.01
FD Mkt. Cap / Gold Eq.: $41.98 $63.05 n/a $21.07
FD Mkt. Cap / Silver Eq.: $0.56 $0.81 n/a $0.25
FD Mkt. Cap / Per Metal
as % Spot Price:
3.38% 4.92% n/a 1.54%

Future Valuation (Cash Flow & Totals)

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