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Minnova Corp

www: minnovacorp.ca   email: gglenn@minnovacorp.ca
Category: Junior: Late Stage Developer
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Symbol Data

Symbol Currency
CVE:MCI CAD
OTCMKTS:AGRDF USD

Description

Minnova Corp are a gold focused junior, late stage developer with one mine in development in Canada and one exploration property. They have approximately 0.7Moz. of gold in the reserves and resources category of which 0.3Moz. are in the measured and indicated category. They have a market capitalisation of ~C$3.3M which is a rise of roughly 35% over the last eight months. As of 12/09/2023 they have ~C$1M debt and ~C$0.22M cash. They have 69M shares outstanding and trade on the Canadian Venture Exchange and the over-the-counter markets.

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General Details

Financial 12/09/2023
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
MCap (FD): $2.44M $3.30M 12/09/2023 $0.86M
Total Assets: $11.05M $10.85M 12/09/2023 $-0.19M
Total Liabilities: $3.98M $3.91M 12/09/2023 $-0.07M
Current Assets: $0.22M $0.22M 12/09/2023 $0.00M
Current Liabilities: $1.47M $1.45M 12/09/2023 $-0.03M
Total Debt: $0.63M $0.62M 12/09/2023 $-0.01M
Cash: $0.22M $0.22M 12/09/2023 $0.00M
Enterprise Value: $2.85M $3.70M 02/12/1970 $0.85M
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: 12/09/2023 n/a
Misc 12/09/2023
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 69,000,000 69,000,000 12/09/2023 0
Shares (FD): 83,000,000 83,000,000 12/09/2023 0
Insider Ownership: n/a n/a 09/29/2023 n/a
Dividend (Annual): n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a n/a 12/09/2023 n/a
Production (Gold Eq Oz.): (guess) 
0		 (guess) 
0		 12/09/2023 0
Production (Silver Eq Oz.): (guess) 
0		 (guess) 
0		 12/09/2023 0
Initial CapEx (Outstanding): $30.00M
1227.11% of MCap		 $30.00M
908.24% of MCap 		12/09/2023 $0.00M
Funding Option: n/a n/a 12/09/2023 n/a
Documentation: none PEA 04/02/2024 n/a
Future MCap Modifier: 0.08
Developer: Location Risk for Production
 0.08
Developer: Location Risk for Production
 12/09/2023 0
Cash Flow Multiplier: 2 2 12/09/2023 0.00

Resource Data

GOLD 12/09/2023
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 12/09/2023 0.00M
Measured & Indicated: 0.30M 0.30M 12/09/2023 0.00M
Inferred: 0.40M 0.40M 12/09/2023 0.00M
Reserves & Resources: 0.70M 0.70M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 12/09/2023 0.00M
Measured & Indicated: 0.22M 0.22M 12/09/2023 0.00M
Inferred: 0.18M 0.18M 12/09/2023 0.00M
Reserves & Resources: 0.40M 0.40M never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 12/09/2023 $0.00
Extra Operating Cost: n/a n/a 12/09/2023 $0.00
Total: $1,500 $1,500 12/09/2023 $0.00
Margin (Free Cash Flow): n/a $0.00
G
R
A
D
E		 Underground (Avg): 5.00 g/t 5.00 g/t 12/09/2023 n/a
Open Pit (Avg): n/a n/a 12/09/2023 n/a
Recovery Rate: (CG)  90.00% (CG)  90.00% 04/02/2024 0.00%
F
U
T
U
R
E		 Proven & Probable: 0.50M 0.50M 12/09/2023 0.00M
Annual Production: 40,000oz. 40,000oz. 12/09/2023 0oz.
Cash Cost: $1,000 $1,000 12/09/2023 $0
Extra Operating Cost: $500 $500 12/09/2023 $0
SILVER 12/09/2023
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 12/09/2023 0.00M
Measured & Indicated: n/a n/a 12/09/2023 0.00M
Inferred: n/a n/a 12/09/2023 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 12/09/2023 0.00M
Measured & Indicated: n/a n/a 12/09/2023 0.00M
Inferred: n/a n/a 12/09/2023 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 12/09/2023 $0.00
Extra Operating Cost: n/a n/a 12/09/2023 $0.00
Total: n/a n/a 12/09/2023 $0.00
Margin (Free Cash Flow): n/a $0.00
G
R
A
D
E		 Underground (Avg): n/a n/a 12/09/2023 n/a
Open Pit (Avg): n/a n/a 12/09/2023 n/a
Recovery Rate: n/a n/a 12/09/2023 0.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 12/09/2023 0.00M
Annual Production: n/a n/a 12/09/2023 n/a
Cash Cost: n/a n/a 12/09/2023 n/a
Extra Operating Cost: n/a n/a 12/09/2023 n/a

Property

Last Analysis Data  (12/09/2023)
Stage Name Owned Au Ag Cu Notes
Dev PL 100% show
PEA to produce 40,000 oz for 10 years.

Only $30 million capex. Permitted mill.
Exp La Esperanza 100% n/a
Total Land Package Size (ha): 2,700  
Current Data
Stage Name Owned Au Ag Cu Notes
Dev PL 100% show
PEA to produce 40,000 oz for 10 years.

Only $30 million capex. Permitted mill.
Exp La Esperanza 100% n/a
Total Land Package Size (ha): 2,700  

Profitability (by resource)

Proven &
Probable		 12/09/2023
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 MCap / Gold Eq.: n/a n/a n/a $0.00
FD MCap / Silver Eq.: n/a n/a n/a $0.00
FD MCap / Per Metal
as % Spot Price:		 n/a n/a n/a 0.00%
Measured &
Indicated		 12/09/2023
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.): 0.30M 0.30M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -0.52M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.22M 0.22M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -0.37M
Maximum Profit (Gold): $108.97M $191.33M n/a $82.36M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $108.97M $191.33M n/a $82.36M
Max Profit / Current MCap: 44.574 57.926 n/a 13.352
Max Profit Per Share (Gold): $1.31 $2.31 n/a $0.99
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $1.31 $2.31 n/a $0.99
Total Free Profit Per Share: $1.27 $2.25 n/a $0.98
FD MCap / Gold Eq.: $11.32 $15.29 n/a $3.97
FD MCap / Silver Eq.: $0.13 $0.18 n/a $0.05
FD MCap / Per Metal
as % Spot Price:		 0.56% 0.64% n/a 0.08%

Reserves &
Resources		 12/09/2023
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.): 0.70M 0.70M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -1.21M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.40M 0.40M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -0.68M
Maximum Profit (Gold): $199.78M $350.78M n/a $150.99M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $199.78M $350.78M n/a $150.99M
Max Profit / Current MCap: 81.718 106.197 n/a 24.478
Max Profit Per Share (Gold): $2.41 $4.23 n/a $1.82
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $2.41 $4.23 n/a $1.82
Total Free Profit Per Share: $2.37 $4.17 n/a $1.80
FD MCap / Gold Eq.: $6.17 $8.34 n/a $2.17
FD MCap / Silver Eq.: $0.07 $0.10 n/a $0.03
FD MCap / Per Metal
as % Spot Price:		 0.31% 0.35% n/a 0.04%

Future Valuation (Cash Flow & Totals)

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