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Midland Exploration Inc. (V:MD)

Business Focus: Integrated Mining

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Sector:  Basic Materials Industry:  Integrated Mining
See Regulatory Filings on SEDAR
Company Contact
Address: 1 Ville-Marie Pl Suite 4000
Tel: 1-450-420.5977
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 nine months ended 30 June 2019, Midland Exploration Inc. revenues decreased 60% to C$33K. Net loss decreased 21% to C$280K. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Lower net loss reflects Interest income increase of 63% to C$238K (income), Stock-based compensation decrease of 11% to C$140K (expense), Travel decrease of 9% to C$43K (expense).
Reporting Currency: Canadian Dollars
Enterprise value: $48.28M as of Jun 30, 2019
Annual revenue (TTM): $0.06M as of Jun 30, 2019
EBITDA (TTM): -$1.66M as of Jun 30, 2019
Net annual income (TTM): -$0.73M as of Jun 30, 2019
Free cash flow (TTM): -$8.08M as of Jun 30, 2019
Net Debt Last Fiscal Year: N/A
Shares outstanding: 68,878,222 as of Jun 30, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization