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Midland Exploration Inc. (V:MD)

Business Focus: Integrated Mining

Sector:  Basic Materials Industry:  Integrated Mining
 
See Regulatory Filings on SEDAR
Company Contact
Address: 1 PLACE VILLE MARIE, SUITE 4000
MONTREAL QC H3B 4M4
Tel: 1-450-420.5977
Website: www.midlandexploration.com
IR: See website
Key People
Jean-Pierre Janson
Independent Chairman of the Board
Gino Roger
President, Chief Executive Officer, Director, IR Contact Officer
Ingrid Martin
Chief Financial Officer
Mario Masson
Vice President - Exploration
Rene Branchaud
Secretary, Independent Director
 
Business Overview
Midland Exploration Inc is engaged in the mining exploration business. The Company's operations include the acquisition and exploration of mining properties. The Company is focused on gold, platinum group elements, base metals and rear earth metal mine discoveries in Quebec, Canada. Its exploration properties include Patris, Casault, Jouvex, Heva, Valmond and La Peltrie, all located in Abitibi; Weedon and Gatineau, which are located in Grenville-Appalaches; James Bay Gold JV (Au) and Eleonore, which are located in James Bay; Pallas PGE and Willbob, which are located in Northern Quebec, and Ytterby, which is located in Quebec Labrador. The James Bay Gold JV (Au) property regroups several properties for a total of approximately 1,830 claims covering a surface area of over 952.9 square kilometers. The Company has drilled approximately eight holes totaling over 3,070 meters on the Casault property and over three holes totaling approximately 920 meters on the Jouvex property.
Financial Overview
For the fiscal year ended 30 September 2019, Midland Exploration Inc. revenues decreased 69% to C$34K. Net loss increased 42% to C$1.1M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Higher net loss reflects Impairment of exploration and evaluation increase from C$304K to C$1.3M (expense), Conferences and mining industry involvem increase of 66% to C$266K (expense).
Reporting Currency: Canadian Dollars
Enterprise value: $50.41M as of Sep 30, 2019
Annual revenue (TTM): $0.03M as of Sep 30, 2019
EBITDA (TTM): -$1.68M as of Sep 30, 2019
Net annual income (TTM): -$1.14M as of Sep 30, 2019
Free cash flow (TTM): -$9.33M as of Sep 30, 2019
Net Debt Last Fiscal Year: N/A
Shares outstanding: 70,280,252 as of Dec 23, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization