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Euromax Resources Ltd

www: www.euromaxresources.com   email: mkostovska@euromaxresources.mk
Category: Junior: Late Stage Developer
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Symbol Data

Symbol Currency
CVE:EOX CAD
OTCMKTS:EOXFF USD

Description

Euromax Resources Ltd are a gold focused junior, late stage developer with one mine in development in Macedonia (FYR) and three exploration properties. They have approximately 2.75Moz. of gold in the reserves and resources category of which 2.5Moz. are in the measured and indicated category. They have a market capitalisation of ~C$10.44M which is a fall of roughly 24% over the last three months. As of 07/23/2024 they have ~C$27M debt and ~C$0.07M cash. They have 556M shares outstanding and trade on the Canadian Venture Exchange and the over-the-counter markets.

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General Details

Financial 07/23/2024
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
MCap (FD): $13.83M $10.44M 07/23/2024 $-3.38M
Total Assets: $27.61M $27.80M 07/23/2024 $0.19M
Total Liabilities: $27.61M $27.80M 07/23/2024 $0.19M
Current Assets: $0.36M $0.37M 07/23/2024 $0.00M
Current Liabilities: $27.61M $27.80M 07/23/2024 $0.19M
Total Debt: $26.88M $27.07M 07/23/2024 $0.19M
Cash: $0.07M $0.07M 07/23/2024 $0.00M
Enterprise Value: $40.64M $37.44M 03/10/1971 $-3.20M
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: 07/23/2024 n/a
Misc 07/23/2024
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 556,482,548 556,482,548 07/23/2024 0
Shares (FD): 951,732,286 951,732,286 07/23/2024 0
Insider Ownership: n/a 20% 07/23/2024 20%
Dividend (Annual): n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a 01/01/2024 07/23/2024 n/a
Production (Gold Eq Oz.): (guess) 
0		 (guess) 
0		 07/23/2024 0
Production (Silver Eq Oz.): (guess) 
0		 (guess) 
0		 07/23/2024 0
Initial CapEx (Outstanding): $474.00M
3427.67% of MCap		 $474.00M
4538.64% of MCap 		07/23/2024 $0.00M
Funding Option: n/a (guess)  Debt Financing 07/23/2024 n/a
Documentation: none FS 07/23/2024 n/a
Future MCap Modifier: 0.05
Developer: Early Development
 0.05
Developer: Early Development
 07/18/2023 0
Cash Flow Multiplier: 2 2 07/23/2024 0.00

Resource Data

GOLD 07/23/2024
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 2.00M 2.00M 07/23/2024 0.00M
Measured & Indicated: 2.50M 2.50M 07/23/2024 0.00M
Inferred: 0.25M 0.25M 07/23/2024 0.00M
Reserves & Resources: 2.75M 2.75M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: 1.70M 1.70M 07/23/2024 0.00M
Measured & Indicated: 2.04M 2.04M 07/23/2024 0.00M
Inferred: 0.11M 0.11M 07/23/2024 0.00M
Reserves & Resources: 2.15M 2.15M never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 07/23/2024 $0.00
Extra Operating Cost: n/a n/a 07/23/2024 $0.00
Total: $600 $600 07/23/2024 $0.00
Margin (Free Cash Flow): n/a $0.00
G
R
A
D
E		 Underground (Avg): n/a n/a 07/23/2024 n/a
Open Pit (Avg): n/a 0.33 g/t 07/18/2023 0.33 g/t
Recovery Rate: (CG)  85.00% (CG)  85.00% 07/23/2024 0.00%
F
U
T
U
R
E		 Proven & Probable: 2.00M 2.00M 07/23/2024 0.00M
Annual Production: 70,000oz. 70,000oz. 07/23/2024 0oz.
Cash Cost: $300 $300 07/23/2024 $0
Extra Operating Cost: $300 $300 07/23/2024 $0
SILVER 07/23/2024
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 07/23/2024 0.00M
Measured & Indicated: n/a n/a 07/23/2024 0.00M
Inferred: n/a n/a 07/23/2024 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 07/23/2024 0.00M
Measured & Indicated: n/a n/a 07/23/2024 0.00M
Inferred: n/a n/a 07/23/2024 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 07/23/2024 $0.00
Extra Operating Cost: n/a n/a 07/23/2024 $0.00
Total: n/a n/a 07/23/2024 $0.00
Margin (Free Cash Flow): n/a $0.00
G
R
A
D
E		 Underground (Avg): n/a n/a 07/23/2024 n/a
Open Pit (Avg): n/a n/a 07/18/2023 n/a
Recovery Rate: n/a n/a 07/23/2024 0.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 07/23/2024 0.00M
Annual Production: n/a n/a 07/23/2024 n/a
Cash Cost: n/a n/a 07/23/2024 n/a
Extra Operating Cost: n/a n/a 07/23/2024 n/a

Property

Last Analysis Data  (07/23/2024)
Stage Name Owned Au Ag Cu Notes
Exp Breznik 100% n/a
Exp Trun 100% show
2 million oz open pit at .7 gpt. PEA coming soon.
Dev Ilovitza 100% show
2.5 million oz gold resource (.33 gpt with nearly 2 billion lbs of copper.

85% recovery rates for gold. It is really a copper mine with a large capex and low IRR (around 15%).

25% of first 500,000 oz go to Royal gold at 25% of the spot price.
Then 12.5 for the LOM.
Exp KMC 100% show
Early gold/copper project.
Total Land Package Size (ha): 13,000  
Current Data
Stage Name Owned Au Ag Cu Notes
Exp Breznik 100% n/a
Exp Trun 100% show
2 million oz open pit at .7 gpt. PEA coming soon.
Dev Ilovitza 100% show
2.5 million oz gold resource (.33 gpt with nearly 2 billion lbs of copper.

85% recovery rates for gold. It is really a copper mine with a large capex and low IRR (around 15%).

25% of first 500,000 oz go to Royal gold at 25% of the spot price.
Then 12.5 for the LOM.
Exp KMC 100% show
Early gold/copper project.
Total Land Package Size (ha): 13,000  

Profitability (by resource)

Proven &
Probable		 07/23/2024
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.): 2.00M 2.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 6.12M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 1.70M 1.70M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 5.20M
Maximum Profit (Gold): $3,086.18M $3,415.98M n/a $329.80M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $3,086.18M $3,415.98M n/a $329.80M
Max Profit / Current MCap: 223.173 327.087 n/a 103.913
Max Profit Per Share (Gold): $3.24 $3.59 n/a $0.35
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $3.24 $3.59 n/a $0.35
Total Free Profit Per Share: $3.22 $3.57 n/a $0.35
FD MCap / Gold Eq.: $8.13 $6.14 n/a $-1.99
FD MCap / Silver Eq.: $0.10 $0.07 n/a $-0.03
FD MCap / Per Metal
as % Spot Price:		 0.34% 0.24% n/a -0.10%
Measured &
Indicated		 07/23/2024
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.): 2.50M 2.50M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 7.65M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 2.04M 2.04M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 6.24M
Maximum Profit (Gold): $3,703.42M $4,099.18M n/a $395.76M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $3,703.42M $4,099.18M n/a $395.76M
Max Profit / Current MCap: 267.808 392.504 n/a 124.696
Max Profit Per Share (Gold): $3.89 $4.31 n/a $0.42
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $3.89 $4.31 n/a $0.42
Total Free Profit Per Share: $3.87 $4.29 n/a $0.42
FD MCap / Gold Eq.: $6.78 $5.12 n/a $-1.66
FD MCap / Silver Eq.: $0.08 $0.06 n/a $-0.02
FD MCap / Per Metal
as % Spot Price:		 0.28% 0.20% n/a -0.08%

Reserves &
Resources		 07/23/2024
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.): 2.75M 2.75M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 8.42M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 2.15M 2.15M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 6.57M
Maximum Profit (Gold): $3,896.30M $4,312.67M n/a $416.37M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $3,896.30M $4,312.67M n/a $416.37M
Max Profit / Current MCap: 281.756 412.947 n/a 131.191
Max Profit Per Share (Gold): $4.09 $4.53 n/a $0.44
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $4.09 $4.53 n/a $0.44
Total Free Profit Per Share: $4.07 $4.52 n/a $0.44
FD MCap / Gold Eq.: $6.44 $4.87 n/a $-1.58
FD MCap / Silver Eq.: $0.08 $0.06 n/a $-0.02
FD MCap / Per Metal
as % Spot Price:		 0.27% 0.19% n/a -0.08%

Future Valuation (Cash Flow & Totals)

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