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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 ~$178.64M which is a fall of roughly 36% over the last three months. As of 02/26/2019 they have ~$22M debt and ~$42M cash. They have 234M shares outstanding and trade on the Toronto Stock Exchange and the over-the-counter markets.

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General Details

Financial 02/26/2019
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Mkt. Cap (FD): $277.37M $178.64M 02/26/2019 $-98.73M
Total Assets: $100.00M $100.00M 02/26/2019 $0.00M
Total Liabilities: $78.00M $78.00M 02/26/2019 $0.00M
Current Assets: $42.00M $42.00M 02/26/2019 $0.00M
Current Liabilities: $2.70M $2.70M 02/26/2019 $0.00M
Total Debt: $22.00M $22.00M 02/26/2019 $0.00M
Cash: $42.00M $42.00M 02/26/2019 $0.00M
Enterprise Value: $257.37M $158.64M 01/10/1975 $-98.73M
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: 02/26/2019 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 02/26/2019 0.00%
Misc 02/26/2019
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Shares Outstanding: 234,000,000 234,000,000 02/26/2019 0
Shares (FD): 394,000,000 394,000,000 02/26/2019 0
Insider Ownership: n/a 50% 02/26/2019 50%
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a 01/01/2024 02/26/2019 n/a
Production (Gold Eq Oz.): (guess) 
0
(guess) 
0
02/26/2019 0
Production (Silver Eq Oz.): (guess) 
0
(guess) 
0
02/26/2019 0
Initial CapEx (Outstanding): $970.00M
349.72% of Mkt.Cap
$970.00M
543% of Mkt.Cap
02/26/2019 $0.00M
Funding Option: n/a n/a 02/26/2019 n/a
Documentation: none PFS 02/26/2019 n/a
Value Adjustment: none none never 0%

Resource Data

GOLD 02/26/2019
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 02/26/2019 0.00M
Measured & Indicated: 5.40M 5.40M 02/26/2019 0.00M
Inferred: 2.00M 2.00M 02/26/2019 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 02/26/2019 0.00M
Measured & Indicated: 3.67M 3.67M 02/26/2019 0.00M
Inferred: 0.85M 0.85M 02/26/2019 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 02/26/2019 $0.00
Extra Operating Cost: n/a n/a 02/26/2019 $0.00
Average Grade: 1.60 g/t 1.60 g/t 02/26/2019 n/a
Recovery Rate: (CG)  85.00% (CG)  85.00% 02/26/2019 0.00%
F
U
T
U
R
E
Proven & Probable: 6.00M 6.00M 02/26/2019 0.00M
Annual Production: 350,000oz. 350,000oz. 02/26/2019 0oz.
Cash Cost: $600 $600 02/26/2019 $0
Extra Operating Cost: $400 $400 02/26/2019 $0
SILVER 02/26/2019
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 02/26/2019 0.00M
Measured & Indicated: n/a n/a 02/26/2019 0.00M
Inferred: n/a n/a 02/26/2019 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 02/26/2019 0.00M
Measured & Indicated: n/a n/a 02/26/2019 0.00M
Inferred: n/a n/a 02/26/2019 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 02/26/2019 $0.00
Extra Operating Cost: n/a n/a 02/26/2019 $0.00
Average Grade: n/a n/a 02/26/2019 n/a
Recovery Rate: n/a n/a 02/26/2019 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 02/26/2019 0.00M
Annual Production: n/a n/a 02/26/2019 n/a
Cash Cost: n/a n/a 02/26/2019 n/a
Extra Operating Cost: n/a n/a 02/26/2019 n/a

Property

Last Analysis Data  (02/26/2019)
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
02/26/2019
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
02/26/2019
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 25.59M
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 17.40M
Maximum Profit (Gold): $844.63M $731.28M n/a $-113.35M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $844.63M $731.28M n/a $-113.35M
Max Profit / Current MCap: 3.045 4.094 n/a 1.048
Max Profit Per Share (Gold): $2.14 $1.86 n/a $-0.29
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $2.14 $1.86 n/a $-0.29
Total Free Profit Per Share: $1.21 $1.25 n/a $0.03
FD Mkt. Cap / Gold Eq.: $75.54 $48.65 n/a $-26.89
FD Mkt. Cap / Silver Eq.: $0.90 $0.55 n/a $-0.35
FD Mkt. Cap / Per Metal
as % Spot Price:
5.69% 3.79% n/a -1.90%

Reserves &
Resources
02/26/2019
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 35.06M
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 21.43M
Maximum Profit (Gold): $1,040.15M $900.56M n/a $-139.59M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $1,040.15M $900.56M n/a $-139.59M
Max Profit / Current MCap: 3.750 5.041 n/a 1.291
Max Profit Per Share (Gold): $2.64 $2.29 n/a $-0.35
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $2.64 $2.29 n/a $-0.35
Total Free Profit Per Share: $1.71 $1.68 n/a $-0.03
FD Mkt. Cap / Gold Eq.: $61.34 $39.50 n/a $-21.83
FD Mkt. Cap / Silver Eq.: $0.73 $0.45 n/a $-0.29
FD Mkt. Cap / Per Metal
as % Spot Price:
4.62% 3.08% n/a -1.54%

Future Valuation (Cash Flow & Totals)

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