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Borealis Mining Company Ltd

www: borealismining.com   email: kmalcolm@borealismining.com
Category: Junior: Emerging Mid-tier Producer
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Symbol Data

Symbol Currency
CVE:BOGO CAD
OTCMKTS:BORMF USD

Description

Borealis Mining Company Ltd are a gold focused junior, emerging mid-tier producer with one mine in development in USA and two exploration properties. They have approximately 2.5Moz. of gold in the reserves and resources category of which 1.8Moz. are in the measured and indicated category. They have a market capitalisation of ~$160.47M which is a rise of roughly 45% over the last one months. As of 09/19/2025 they have no debt and ~$4M cash. They have 115M shares outstanding and trade on the Canadian Venture Exchange and the over-the-counter markets.

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General Details

Financial 09/19/2025
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
MCap (FD): $110.84M $160.47M 09/19/2025 $49.63M
MCap (OS): $83.42M $120.78M 09/19/2025 $37.35M
Total Assets: $10.00M $10.00M 09/19/2025 $0.00M
Total Liabilities: $12.00M $12.00M 09/19/2025 $0.00M
Current Assets: $4.00M $4.00M 09/19/2025 $0.00M
Current Liabilities: $0.10M $0.10M 09/19/2025 $0.00M
Total Debt: $0.00M $0.00M 09/19/2025 $0.00M
Cash: $4.00M $4.00M 09/19/2025 $0.00M
Debt (Net): $-4.00M $-4.00M $0.00M
Enterprise Value: $106.84M $156.47M 12/16/1974 $49.63M
Cash Flow: $8.39M $10.18M never $1.79M
Cash Flow Multiple: 13.21 15.76 never 2.55
Net Debt to
Cash Flow Ratio:		 n/a n/a never 0.00
Finance within 1 year: 09/19/2025 n/a
Misc 09/19/2025
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 115,158,986 115,158,986 09/19/2025 0
Shares (FD): 153,000,000 153,000,000 09/19/2025 0
Insider Ownership: 30% 30% 09/19/2025 n/a
Dividend (Annual): n/a n/a 09/19/2025 n/a
Company Type: Mostly Gold Mostly Gold never n/a
Group: Producer Producer never n/a
Production ETA: n/a 09/01/2025 09/19/2025 n/a
Production (Gold Eq Oz.): (guess) 
5,000		 (guess) 
5,000		 09/19/2025 0
Production (Silver Eq Oz.): (guess) 
427,752		 (guess) 
427,058		 09/19/2025 -695
Development Phase: Producer (Single Mine) Producer (Single Mine) 09/19/2025 n/a
Optionality Play: none No
F
U
T
U
R
E		 % of Spot: 15
Producer: Average
 15
Producer: Average
 09/19/2025 0
Cash Flow Multiple: 5 5 09/19/2025 0.00

Resource Data

GOLD 09/19/2025
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 09/19/2025 0.00M
Measured & Indicated: 1.80M 1.80M 09/19/2025 0.00M
Inferred: 0.70M 0.70M 09/19/2025 0.00M
Reserves & Resources: 2.50M 2.50M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 09/19/2025 0.00M
Measured & Indicated: 1.22M 1.22M 09/19/2025 0.00M
Inferred: 0.30M 0.30M 09/19/2025 0.00M
Reserves & Resources: 1.52M 1.52M never 0.00M
C
U
R
R
E
N
T		 Annual Production: (guess) 
5,000oz.		 (guess) 
5,000oz.		 09/19/2025 0oz.
Cash Cost: $1,300 $1,300 09/19/2025 $0.00
Extra Operating Cost: $700 $700 09/19/2025 $0.00
Total: $2,000 $2,000 09/19/2025 $0.00
Margin (Free Cash Flow): $1,679 (46%) $2,037 (50%) $357.88
MCap / Production (AuEq): $22,167.48 $32,093.24 $9,925.76
EV / Production (AuEq): $21,367.48 $31,293.24 $9,925.76
G
R
A
D
E		 Underground (Avg): n/a n/a 09/19/2025 n/a
Open Pit (Avg): n/a 1.20 g/t 09/19/2025 1.20 g/t
Recovery Rate: (CG)  85.00% (CG)  85.00% 09/19/2025 0.00%
F
U
T
U
R
E		 Proven & Probable: 1.80M 1.80M 09/19/2025 0.00M
Annual Production: 80,000oz. 80,000oz. 09/19/2025 0oz.
Cash Cost: $1,300 $1,300 09/19/2025 $0
Extra Operating Cost: $750 $750 09/19/2025 $0
SILVER 09/19/2025
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 09/19/2025 0.00M
Measured & Indicated: n/a n/a 09/19/2025 0.00M
Inferred: n/a n/a 09/19/2025 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 09/19/2025 0.00M
Measured & Indicated: n/a n/a 09/19/2025 0.00M
Inferred: n/a n/a 09/19/2025 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 09/19/2025 $0.00
Extra Operating Cost: n/a n/a 09/19/2025 $0.00
Total: n/a n/a 09/19/2025 $0.00
Margin (Free Cash Flow): n/a $0.00
MCap / Production (AgEq): $259.12 $375.75 $116.63
EV / Production (AgEq): $249.76 $366.38 $116.62
G
R
A
D
E		 Underground (Avg): n/a n/a 09/19/2025 n/a
Open Pit (Avg): n/a n/a 09/19/2025 n/a
Recovery Rate: n/a n/a 09/19/2025 0.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 09/19/2025 0.00M
Annual Production: n/a n/a 09/19/2025 n/a
Cash Cost: n/a n/a 09/19/2025 n/a
Extra Operating Cost: n/a n/a 09/19/2025 n/a

Property

Last Analysis Data  (09/19/2025)
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 Au Ag Cu Notes
Dev Borealis
100 show
2M oz historical deposit at 1.2 gpt

Targeting 100K oz annual production.

Needs an updated resource and PEA.

Size: 5,000 ha
Exp Big Balds
100 show
Size: 600 ha
Exp Sandman
100 show
Size: 11,700 ha
Current Data
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 Au Ag Cu Notes
Dev Borealis
100 show
2M oz historical deposit at 1.2 gpt

Targeting 100K oz annual production.

Needs an updated resource and PEA.

Size: 5,000 ha
Exp Big Balds
100 show
Size: 600 ha
Exp Sandman
100 show
Size: 11,700 ha

Profitability (by resource)

Proven &
Probable		 09/19/2025
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%
EV / Gold Eq.: n/a n/a n/a $0.00
EV / Silver Eq.: n/a n/a n/a $0.00
EV / Per Metal
as % Spot Price:		 n/a n/a n/a 0.00%
Measured &
Indicated		 09/19/2025
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.): 1.80M 1.80M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -0.25M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 1.22M 1.22M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -0.17M
Maximum Profit (Gold): $2,054.69M $2,492.74M n/a $438.05M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $2,054.69M $2,492.74M n/a $438.05M
Max Profit / Current MCap: 18.538 15.534 n/a -3.004
Max Profit Per Share (Gold): $13.43 $16.29 n/a $2.86
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $13.43 $16.29 n/a $2.86
Total Free Profit Per Share: $12.43 $14.82 n/a $2.39
FD MCap / Gold Eq.: $90.55 $131.10 n/a $40.55
FD MCap / Silver Eq.: $1.06 $1.53 n/a $0.48
FD MCap / Per Metal
as % Spot Price:		 2.46% 3.25% n/a 0.79%
EV / Gold Eq.: $87.29 $127.83 n/a $40.55
EV / Silver Eq.: $1.02 $1.50 n/a $0.48
EV / Per Metal
as % Spot Price:		 2.37% 3.17% n/a 0.79%

Reserves &
Resources		 09/19/2025
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 -0.35M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 1.52M 1.52M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -0.21M
Maximum Profit (Gold): $2,554.10M $3,098.61M n/a $544.51M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $2,554.10M $3,098.61M n/a $544.51M
Max Profit / Current MCap: 23.044 19.310 n/a -3.734
Max Profit Per Share (Gold): $16.69 $20.25 n/a $3.56
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $16.69 $20.25 n/a $3.56
Total Free Profit Per Share: $15.69 $18.78 n/a $3.09
FD MCap / Gold Eq.: $72.85 $105.47 n/a $32.62
FD MCap / Silver Eq.: $0.85 $1.23 n/a $0.38
FD MCap / Per Metal
as % Spot Price:		 1.98% 2.61% n/a 0.63%
EV / Gold Eq.: $70.22 $102.84 n/a $32.62
EV / Silver Eq.: $0.82 $1.20 n/a $0.38
EV / Per Metal
as % Spot Price:		 1.91% 2.55% n/a 0.64%

Future Valuation (Cash Flow & Totals)

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