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Metalore Resources Limited (V:MET)

Business Focus: Natural Gas Exploration & Production - Offshore

Sector:  Energy Industry:  Oil & Gas Exploration and Production
 
Company Contact
Address: P.O. Box 422
SIMCOE ON N3Y 4L5
Tel: N/A
Website: https://www.metaloreresources.ca
IR: See website
Key People
Armen A. Chilian
President, Chief Executive Officer, Corporate Secretary, Director
Donald W. Bryson
Chief Financial Officer, Director
 
Business Overview
Metalore Resources Limited is a Canada-based mining exploration company. The Company is engaged in natural gas production and gold exploration in Ontario. The Company owns and/or controls approximately 40,000 acres of petroleum, natural gas and mineral leases in Charlotteville and Walsingham townships in Norfolk County, Ontario. The natural gas is produced from over 83 wells in two townships in Norfolk County, Ontario, and is distributed to over 150 commercial and residential customers along gathering pipelines through a cooperative agreement with Enbridge Gas Inc. The Company retains approximately 21-26% joint venture interest in over 600 gold mining claims in the prolific Beardmore-Geraldton gold belt held by operator Greenstone Gold Mines GP Inc. It holds approximately 1% net smelter return on about 18 claims in the Brookbank and Beardmore areas of Ontario. The Company explores Northwestern Ontario for gold, copper, zinc, lithium, platinum-group elements (PGEs) and diamonds.
Financial Overview
For the nine months ended 31 December 2023, Metalore Resources Ltd revenues decreased 65% to C$300K. Net loss totaled C$33K vs. income of C$274K. Revenues reflect Natural gas sales decrease of 65% to C$321K. Net loss reflects Accretion increase from C$7K to C$37K (expense), G/L on Invest HFS, Maturity & Trading decrease from C$21K (income) to C$0K, Depletion and depreciation increase of 3% to C$125K (expense).
Employees: 4 as of Mar 31, 2014
Reporting Currency: Canadian Dollars
Enterprise value: $0.20M as of Dec 31, 2023
Annual revenue (TTM): $0.46M as of Dec 31, 2023
EBITDA (TTM): -$0.21M as of Dec 31, 2023
Net annual income (TTM): -$2.06M as of Dec 31, 2023
Free cash flow (TTM): -$0.01M as of Dec 31, 2023
Net Debt Last Fiscal Year: N/A
Shares outstanding: 1,775,035 as of Dec 31, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization