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			Symbol Data		 
					
			
			
				Symbol 
				Currency 			 
			 
							
					CVE:HAY CAD 				 
								
					OTCMKTS:HAYAF USD 				 
							
						Description 
			Hayasa Metals Inc are a gold focused junior, project generator with two exploration properties in Armenia. They have approximately 0.5Moz. of gold in the reserves and resources category  They have a market capitalisation of ~C$4.69M which is a fall of roughly 22% over the last eight months. As of 03/10/2025 they have no debt and ~C$1.02M cash. They have 61M shares outstanding and trade on the Canadian Venture Exchange  and  the over-the-counter markets.
			
				 
	
		
		
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			Financial 
			03/10/2025 
			 
		
			Item 
			Value 
			Value 
			Updated 
					 
		 
		
			MCap (FD): 
			$5.98M 
			$4.69M 
			03/10/2025 
					 
		
			MCap (OS): 
			$4.45M 
			$3.49M 
			03/10/2025 
					 
		
			Total Assets: 
			
				$2.43M			 
			
				$2.50M			 
			03/10/2025 
					 
		
			Total Liabilities: 
			
				$0.12M			 
			
				$0.12M			 
			03/10/2025 
					 
		
			Current Assets: 
			
				$1.04M			 
			
				$1.07M			 
			03/10/2025 
					 
		
			Current Liabilities: 
			
				$0.12M			 
			
				$0.12M			 
			03/10/2025 
					 
		
			Total Debt: 
			$0.00M 
			$0.00M 
			03/10/2025 
					 
		
			Cash: 
			$0.99M 
			$1.02M 
			03/10/2025 
					 
		
			Debt (Net): 
			$-0.99M 
			$-1.02M 
			 
		
			Enterprise Value: 
			$4.98M 
			$3.67M 
			02/12/1970 
					 
		
			Cash Flow: 
			 $0.00M 
			 $0.00M 
			never 
					 
		
			Cash Flow Multiple: 
			 0.00 
			 0.00 
			never 
					 
		
			Net Debt to 
			 n/a  
			 n/a  
			never 
					 
		
			Finance within 1 year: 
			03/10/2025 
					 
		
	 
	
		
		
		
			Misc 
			03/10/2025 
			 
		
			Item 
			Value 
			Value 
			Updated 
					 
		 
				
			Shares Outstanding: 
			61,000,000 
			61,000,000 
			03/10/2025 
					 
		
			Shares (FD): 
			82,000,000 
			82,000,000 
			03/10/2025 
					 
		
			Insider Ownership: 
			n/a 20% 
			03/11/2025 
					 
		
			Dividend (Annual): 
			n/a n/a never 
					 
		
			Company Type: 
			Mostly Gold 
			Mostly Gold 
			never 
					 
		
			Group: 
			Explorer 
			Explorer 
			never 
					 
		
			Production ETA: 
			n/a n/a 03/10/2025 
					 
		
			Production (Gold Eq Oz.): 
			(guess)  (guess)  03/10/2025 
					 
		
			Production (Silver Eq Oz.) : 
			(guess)  (guess)  03/10/2025 
					 
		
			Development Phase: 
			
				none 			 
			
				none 			 
			03/11/2025 
					 
		
			Optionality Play: 
			
				none 			 
			
				No			 
			 
		
			F 
			% of Spot: 
						
				2PG/Explorer: Average Project
			 
						
				2PG/Explorer: Average Project
			 
			04/24/2023 
					 
		
			Cash Flow Multiple: 
						
				none 			 
						
				none 			 
			03/11/2025 
					 
		
	 
 
 
	 
	
			
	
	
		GOLD 
		03/10/2025 
		 
	
		Item 
		Value 
		Value 
		Updated 
			 
	 
 	
		O 
		T 
		Proven & Probable: 
		n/a n/a 03/10/2025 
			 
	
		Measured & Indicated: 
		n/a n/a 03/10/2025 
			 
	
		Inferred: 
		0.50M 
		0.50M 
		03/10/2025 
			 
	
		Reserves & Resources: 
		0.50M 
		0.50M 
		never 
			 
	
		P 
		Proven & Probable: 
		n/a n/a 03/10/2025 
			 
	
		Measured & Indicated: 
		n/a n/a 03/10/2025 
			 
	
		Inferred: 
		0.20M 
		0.20M 
		03/10/2025 
			 
	
		Reserves & Resources: 
		0.20M 
		0.20M 
		never 
			 
	
		C 
		Annual Production: 
		n/a n/a  
	
		Cash Cost: 
		$750		 
		$750		 
		03/10/2025 
			 
	
		Extra Operating Cost: 
		$350		 
		$350		 
		03/10/2025 
			 
	
		Total: 
		$1,100		 
		$1,100		 
		03/10/2025 
			 
	
		Margin (Free Cash Flow): 
		n/a  
	
		MCap / Production (AuEq): 
		n/a n/a  
	
		EV / Production (AuEq): 
		n/a n/a  
	
		G 
		Underground (Avg): 
		n/a n/a 03/10/2025 
			 
	
		Open Pit (Avg): 
		n/a 1.50 g/t 
		03/10/2025 
			 
	
		Recovery Rate: 
		(CG)   80.00%(CG)   80.00%03/11/2025 
			 
	
		F 
		Proven & Probable: 
		0.50M 
		0.50M 
		03/10/2025 
			 
	
		Annual Production: 
		n/a n/a 03/10/2025 
			 
	
		Cash Cost: 
		n/a n/a 03/10/2025 
			 
	
		Extra Operating Cost: 
		n/a n/a 03/10/2025 
			 
	
		 
	
			
	
	
		SILVER 
		03/10/2025 
		 
	
		Item 
		Value 
		Value 
		Updated 
			 
	 
 	
		O 
		T 
		Proven & Probable: 
		n/a n/a 03/10/2025 
			 
	
		Measured & Indicated: 
		n/a n/a 03/10/2025 
			 
	
		Inferred: 
		n/a n/a 03/10/2025 
			 
	
		Reserves & Resources: 
		n/a n/a never 
			 
	
		P 
		Proven & Probable: 
		n/a n/a 03/10/2025 
			 
	
		Measured & Indicated: 
		n/a n/a 03/10/2025 
			 
	
		Inferred: 
		n/a n/a 03/10/2025 
			 
	
		Reserves & Resources: 
		n/a n/a never 
			 
	
		C 
		Annual Production: 
		n/a n/a  
	
		Cash Cost: 
		n/a 		n/a 		03/10/2025 
			 
	
		Extra Operating Cost: 
		n/a 		n/a 		03/10/2025 
			 
	
		Total: 
		n/a 		n/a 		03/10/2025 
			 
	
		Margin (Free Cash Flow): 
		n/a  
	
		MCap / Production (AgEq): 
		n/a n/a  
	
		EV / Production (AgEq): 
		n/a n/a  
	
		G 
		Underground (Avg): 
		n/a n/a 03/10/2025 
			 
	
		Open Pit (Avg): 
		n/a n/a 03/13/2021 
			 
	
		Recovery Rate: 
		n/a n/a 03/10/2025 
			 
	
		F 
		Proven & Probable: 
		n/a n/a 03/10/2025 
			 
	
		Annual Production: 
		n/a n/a 03/10/2025 
			 
	
		Cash Cost: 
		n/a n/a 03/10/2025 
			 
	
		Extra Operating Cost: 
		n/a n/a 03/10/2025 
			 
	
		 
 
 
	 
	
				
		
					
				 Last Analysis Data  (03/10/2025) 
			 
					
			Stage 
			Name 
			Owned 
						Type 
			NPV 
			IRR 
			CapEx 
							Au 
				Ag 
				Cu 
				Notes 
		 
		 
					
				Exp 
					Urasar 
					
						Eastern Europe  
				 
				100 (guess)  
								n/a 
									 					 show  
			500K oz AU plus copper 
				Exp 
					Vardenis 
					
						Eastern Europe  
				 
				100 (guess)  
								n/a 
									 show  
			Early exploration 
			 
	
				
		
					
				Current Data 
			 
					
			Stage 
			Name 
			Owned 
						Type 
			NPV 
			IRR 
			CapEx 
							Au 
				Ag 
				Cu 
				Notes 
		 
		 
					
				Exp 
					Urasar 
					
						Eastern Europe  
				 
				100 (guess)  
								n/a 
									 					 show  
			500K oz AU plus copper 
				Exp 
					Vardenis 
					
						Eastern Europe  
				 
				100 (guess)  
								n/a 
									 show  
			Early exploration 
			 
 
 
	 
	
			
	
	
		Proven & 
		03/10/2025 
		 
	
		Item 
		Value 
		Value 
		Updated 
			 
	 
	
		Percentage Gold: 
		n/a n/a n/a 
			 
	
		Percentage Silver: 
		n/a n/a n/a 
			 
	
		Total (Gold Eq. Oz.): 
		n/a n/a n/a 
			 
	
		Total (Silver Eq. Oz.): 
		n/a n/a n/a 
			 
	
		P 
		Gold Eq. Oz.: 
		n/a n/a n/a 
			 
	
		Silver Eq. Oz.: 
		n/a n/a n/a 
			 
	
		Maximum Profit (Gold): 
		n/a n/a n/a 
			 
	
		Maximum Profit (Silver): 
		n/a n/a n/a 
			 
	
		Total Maximum Profit: 
		n/a n/a n/a 
			 
	
		Max Profit / Current MCap: 
		n/a n/a n/a 
			 
	
		Max Profit Per Share (Gold): 
		n/a n/a n/a 
			 
	
		Max Profit Per Share (Silver): 
		n/a n/a n/a 
			 
	
		Total Max Profit Per Share: 
		n/a n/a n/a 
			 
	
		Total Free Profit Per Share: 
		n/a n/a n/a 
			 
	
		FD MCap / Gold Eq.: 
		n/a n/a n/a 
			 
	
		FD MCap / Silver Eq.: 
		n/a n/a n/a 
			 
	
		FD MCap / Per Metal 
		n/a n/a n/a 
			 
	
		EV / Gold Eq.: 
		n/a n/a n/a 
			 
	
		EV / Silver Eq.: 
		n/a n/a n/a 
			 
	
		EV / Per Metal 
		n/a n/a n/a 
			 
	
		 
	
			
	
	
		Measured & 
		03/10/2025 
		 
	
		Item 
		Value 
		Value 
		Updated 
			 
	 
	
		Percentage Gold: 
		n/a n/a n/a 
			 
	
		Percentage Silver: 
		n/a n/a n/a 
			 
	
		Total (Gold Eq. Oz.): 
		n/a n/a n/a 
			 
	
		Total (Silver Eq. Oz.): 
		n/a n/a n/a 
			 
	
		P 
		Gold Eq. Oz.: 
		n/a n/a n/a 
			 
	
		Silver Eq. Oz.: 
		n/a n/a n/a 
			 
	
		Maximum Profit (Gold): 
		n/a n/a n/a 
			 
	
		Maximum Profit (Silver): 
		n/a n/a n/a 
			 
	
		Total Maximum Profit: 
		n/a n/a n/a 
			 
	
		Max Profit / Current MCap: 
		n/a n/a n/a 
			 
	
		Max Profit Per Share (Gold): 
		n/a n/a n/a 
			 
	
		Max Profit Per Share (Silver): 
		n/a n/a n/a 
			 
	
		Total Max Profit Per Share: 
		n/a n/a n/a 
			 
	
		Total Free Profit Per Share: 
		n/a n/a n/a 
			 
	
		FD MCap / Gold Eq.: 
		n/a n/a n/a 
			 
	
		FD MCap / Silver Eq.: 
		n/a n/a n/a 
			 
	
		FD MCap / Per Metal 
		n/a n/a n/a 
			 
	
		EV / Gold Eq.: 
		n/a n/a n/a 
			 
	
		EV / Silver Eq.: 
		n/a n/a n/a 
			 
	
		EV / Per Metal 
		n/a n/a n/a 
			 
	
		 
 
	
	
	
		Reserves & 
		03/10/2025 
		 
	
		Item 
		Value 
		Value 
		Updated 
			 
	 
	
		Percentage Gold: 
		100.00% 
		100.00% 
		n/a 
			 
	
		Percentage Silver: 
		n/a n/a n/a 
			 
	
		Total (Gold Eq. Oz.): 
		0.50M 
		0.50M 
		n/a 
			 
	
		Total (Silver Eq. Oz.): 
		n/a n/a n/a 
			 
	
		P 
		Gold Eq. Oz.: 
		0.20M 
		0.20M 
		n/a 
			 
	
		Silver Eq. Oz.: 
		n/a n/a n/a 
			 
	
		Maximum Profit (Gold): 
		$356.36M 
		$582.43M 
		n/a 
			 
	
		Maximum Profit (Silver): 
		n/a n/a n/a 
			 
	
		Total Maximum Profit: 
		$356.36M 
		$582.43M 
		n/a 
			 
	
		Max Profit / Current MCap: 
		59.627 
		124.186 
		n/a 
			 
	
		Max Profit Per Share (Gold): 
		$4.35 
		$7.10 
		n/a 
			 
	
		Max Profit Per Share (Silver): 
		n/a n/a n/a 
			 
	
		Total Max Profit Per Share: 
		$4.35 
		$7.10 
		n/a 
			 
	
		Total Free Profit Per Share: 
		$4.24 
		$7.02 
		n/a 
			 
	
		FD MCap / Gold Eq.: 
		$29.88 
		$23.45 
		n/a 
			 
	
		FD MCap / Silver Eq.: 
		$0.33 
		$0.29 
		n/a 
			 
	
		FD MCap / Per Metal 
		1.04% 
		0.58% 
		n/a 
			 
	
		EV / Gold Eq.: 
		$24.91 
		$18.33 
		n/a 
			 
	
		EV / Silver Eq.: 
		$0.28 
		$0.22 
		n/a 
			 
	
		EV / Per Metal 
		0.86% 
		0.46% 
		n/a 
			 
	
	 
	 
	 
	
	
	Defaults 
	03/10/2025 
	 
	Item 
	Value 
	Value 
	Updated 
	 
 
	
		Exchange Rates: 
		CAD 0.6941 
		CAD 0.7149 
		10/31/2025 
			 
	
	Spot Gold: 
	$2,881.80 
	$4,012.16 
	10/31/2025 
	 
	Spot Silver: 
	$31.92 
	$48.93 
	10/31/2025 
	 
	Gold:Silver Ratio: 
	90.28 
	82.00 
	10/31/2025 
	 
	Spot Gold (Future): 
	$4,000.00 
	$5,000.00 
	 
	Spot Silver (Future): 
	$100.00 
	$100.00 
	 
	Gold:Silver Ratio (Future): 
	40.00 
	50.00 
	 
	Gold Avg. Recovery Rate: 
	75.00% 
	75.00% 
	 
	Silver Avg. Recovery Rate: 
	75.00% 
	75.00% 
	 
	Plausibility of P & P: 
	100.00% 
	100.00% 
	 
	Plausibility of M & I: 
	80.00% 
	80.00% 
	 
	Plausibility of Inferred: 
	50.00% 
	50.00% 
	 
 
 
  			 
		 
		
	 
 
	
 
		
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