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Category: Junior: Small Producer
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Goldsource Mines Inc
www: www.goldsourcemines.com     email: info@goldsourcemines.com

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Notes
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Price Data

Symbol Date Price Change 52 Wk Range Volume
CVE:GXS 07/25/2017 CAD 0.100 -0.005 0.550 - 0.100 56,356
OTCMKTS:GXSFF 07/25/2017 USD 0.0789 -0.0101 0.4200 - 0.0700 25,744
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Description

Goldsource Mines Inc are a gold focused junior, small producer with one mine in development in Guyana and two exploration properties. They have approximately 0.75Moz. of gold in the reserves and resources category of which 0.15Moz. are in the measured and indicated category. They have a market capitalisation of ~C$14.24M which is a fall of roughly 66% over the last nine months. As of 03/31/2017 they have no debt and ~C$1.49M cash. They have 167M shares outstanding and trade on the Canadian Venture Exchange and the over-the-counter markets.

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General Details

Financial 10/22/2016
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Mkt. Cap (Fully Diluted): $42.06M $14.24M 10/22/2016 $-27.82M
Total Assets: $12.95M $11.05M 03/31/2017 $-1.89M
Total Liabilities: $1.54M $0.47M 03/31/2017 $-1.07M
Current Assets: $0.46M $1.61M 03/31/2017 $1.15M
Current Liabilities: $1.34M $0.21M 03/31/2017 $-1.13M
Total Debt: $0.00M $0.00M 03/31/2017 $0.00M
Cash: $0.32M $1.49M 03/31/2017 $1.17M
Enterprise Value: $41.74M $12.75M 05/28/1970 $-29.00M
Cash Flow: $0.22M $0.21M never $-0.01M
Cash Flow Multiple: 190.02 68.27 never -121.75
Net Debt to Cash Flow Ratio: n/a n/a never 0.00
Finance within 1 year: 10/22/2016 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 10/22/2016 0.00%
Misc 10/22/2016
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Share Price: $0.236 $0.080 16:07 on 07/25/2017 $-0.16
Shares Outstanding: 140,000,000 166,970,000 03/31/2017 26,970,000
Shares Fully Diluted: 178,000,000 178,000,000 10/22/2016 0
Insider Ownership: n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a 03/01/2016 10/22/2016 n/a
Production (Gold Eq Oz.): (guess) 
1,000
(guess) 
1,000
10/22/2016 0
Production (Silver Eq Oz.): (guess) 
72,189
(guess) 
75,906
10/22/2016 3,717
Initial CapEx (Outstanding): $7.00M
16.64% of Mkt.Cap
$7.00M
49.17% of Mkt.Cap
10/22/2016 $0.00M
Funding Option: n/a (guess)  Issue stock 10/22/2016 n/a
Documentation: none PRODUCER 10/22/2016 n/a
Value Adjustment: none none never 0%

Resource Data

GOLD 10/22/2016
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 10/22/2016 0.00M
Measured & Indicated: 0.15M 0.15M 10/22/2016 0.00M
Inferred: 0.60M 0.60M 10/22/2016 0.00M
Reserves & Resources: 0.75M 0.75M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: n/a n/a 10/22/2016 0.00M
Measured & Indicated: 0.06M 0.06M 10/22/2016 0.00M
Inferred: 0.15M 0.15M 10/22/2016 0.00M
Reserves & Resources: 0.21M 0.21M never 0.00M
C
U
R
R
E
N
T
Annual Production: (guess) 
1,000oz.
(guess) 
1,000oz.
10/22/2016 0oz.
Cash Cost: $600 $600 10/22/2016 $0.00
Extra Operating Cost: $350 $350 10/22/2016 $0.00
Average Grade: 1.30 g/t 1.30 g/t 10/22/2016 n/a
Recovery Rate: (CG)  50.00% (CG)  50.00% 10/22/2016 0.00%
F
U
T
U
R
E
Proven & Probable: 0.60M 0.60M 10/22/2016 0.00M
Annual Production: 35,000oz. 35,000oz. 10/22/2016 0oz.
Cash Cost: $600 $600 10/22/2016 $0
Extra Operating Cost: $350 $350 10/22/2016 $0
SILVER 10/22/2016
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 10/22/2016 0.00M
Measured & Indicated: n/a n/a 10/22/2016 0.00M
Inferred: n/a n/a 10/22/2016 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 10/22/2016 0.00M
Measured & Indicated: n/a n/a 10/22/2016 0.00M
Inferred: n/a n/a 10/22/2016 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 10/22/2016 $0.00
Extra Operating Cost: n/a n/a 10/22/2016 $0.00
Average Grade: n/a n/a 10/22/2016 n/a
Recovery Rate: n/a n/a 10/22/2016 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 10/22/2016 0.00M
Annual Production: n/a n/a 10/22/2016 n/a
Cash Cost: n/a n/a 10/22/2016 n/a
Extra Operating Cost: n/a n/a 10/22/2016 n/a

Property

Last Analysis Data  (10/22/2016)
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development Georgetown, Guyana Eagle Mountain 100% 5,000 Open Pit show
Likely to reach 35,000 in 3 to 5 years.

Very shallow open pit. 750,000 oz (1.3 gpt).

Low cash costs around $500 per oz.
Exploration Para State, Brazil Tucuma 58% n/a n/a n/a
Exploration Guyana Mowasi 100% (guess) 15,000 n/a show
Early exploration
Total Land Package Size (ha): 20,000  
Current Data
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development Georgetown, Guyana Eagle Mountain 100% 5,000 Open Pit show
Likely to reach 35,000 in 3 to 5 years.

Very shallow open pit. 750,000 oz (1.3 gpt).

Low cash costs around $500 per oz.
Exploration Para State, Brazil Tucuma 58% n/a n/a n/a
Exploration Guyana Mowasi 100% (guess) 15,000 n/a show
Early exploration
Total Land Package Size (ha): 20,000  

Profitability (by resource)

Proven &
Probable
10/22/2016
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
10/22/2016
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.): 0.15M 0.15M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 0.56M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 0.06M 0.06M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 0.22M
Maximum Profit (Gold): $13.28M $12.51M n/a $-0.77M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $13.28M $12.51M n/a $-0.77M
Max Profit / Current MCap: 0.316 0.879 n/a 0.563
Max Profit Per Share (Gold): $0.07 $0.07 n/a $0.00
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.07 $0.07 n/a $0.00
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $701.00 $237.28 n/a $-463.72
FD Mkt. Cap / Silver Eq.: $9.71 $3.13 n/a $-6.58
FD Mkt. Cap / Per Metal
as % Spot Price:
55.36% 19.01% n/a -36.35%

Reserves &
Resources
10/22/2016
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.): 0.75M 0.75M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 2.79M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 0.21M 0.21M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 0.78M
Maximum Profit (Gold): $46.48M $43.79M n/a $-2.69M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $46.48M $43.79M n/a $-2.69M
Max Profit / Current MCap: 1.105 3.076 n/a 1.971
Max Profit Per Share (Gold): $0.26 $0.25 n/a $-0.02
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.26 $0.25 n/a $-0.02
Total Free Profit Per Share: $0.00 $0.15 n/a $0.15
FD Mkt. Cap / Gold Eq.: $200.29 $67.79 n/a $-132.49
FD Mkt. Cap / Silver Eq.: $2.77 $0.89 n/a $-1.88
FD Mkt. Cap / Per Metal
as % Spot Price:
15.82% 5.43% n/a -10.39%

Future Valuation (Cash Flow & Totals)

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