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Awale Resources Limited (V:ARIC)

Business Focus: Gold Mining

Sector:  Basic Materials Industry:  Gold
Company Contact
Address: Suite 1020 - 625 Howe Street
Tel: N/A
IR: See website
Key People
Business Overview
Awale Resources Limited is a Canada-based mineral exploration company focused on the discovery of high-grade gold and copper-gold deposits. It undertakes exploration activities in the underexplored parts of Cote d'Ivoire. The Odienne project lies in the northwest Denguele Region of Cote d'Ivoire, close to the borders of Mali and Guinea. The project covers approximately 1600 square kilometers (km2) in four permits: the granted Odenne East permit, and three permits under application. The Granted Odienne East Permit consists of multiple Iron Oxide Copper Gold (IOCG) copper-gold (Cu-Au) targets and gold (Au) targets, which include the high-grade gold Empire discovery situated along the 20 kilometers long Empire gold Corridor in the south. The Bondoukou Project is located in the northeast of Cote d'Ivoire and is accessed via sealed roads from Abidjan to the city of Bondoukou. The project consists of three granted permits covering 1191.5 km2 along with three applications covering 1182.9 km2.
Financial Overview
For the six months ended 30 June 2023, Awale Resources Ltd revenues was not reported. Net loss increased 37% to $792K. Higher net loss reflects Exploration/Dry Hole Exp(Incl Write Off) increase from $101K to $206K (expense), Salaries and directors fees increase of 62% to $224K (expense), Share based payments increase of 53% to $239K (expense). Basic Earnings per Share excluding Extraordinary Items remained flat at -$0.02.
Reporting Currency: U.S. Dollars
Enterprise value: $5.89M as of Sep 30, 2023
Annual revenue (TTM): $0.00M as of Sep 30, 2023
EBITDA (TTM): -$11.76M as of Sep 30, 2023
Net annual income (TTM): -$11.73M as of Sep 30, 2023
Free cash flow (TTM): -$4.62M as of Sep 30, 2023
Net Debt Last Fiscal Year: N/A
Shares outstanding: 54,390,779 as of Jun 30, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization