Midnight Sun Mining Corp. (V:MMA)
Business Focus: Copper Ore Mining
| Sector: Basic Materials | Industry: Specialty Mining & Metals |
| Company Contact | |
| Address: | #770 - 789 West Pender Street VANCOUVER BC V6C 1H2 |
| Tel: | N/A |
| Website: | https://www.midnightsunmining.com |
| IR: | See website |
| Key People | ||
| Allan J. Fabbro President and Chief Executive Officer, Lead Director | Alastair Brownlow Chief Financial Officer | Robert J. Sibthorpe Vice President - Exploration, Director |
| Business Overview |
| Midnight Sun Mining Corp. is a Canada-based exploration company. The Company is focused on exploring its flagship Solwezi Project, located in Zambia. Its property is situated in the heart of the Zambian Copper Belt. It holds a 60% interest in two mineral exploration licenses, 21509-HQ-LEL and 12124-HQ-LPL, (the Solwezi Licenses), which are held by subsidiary of Kam Chuen, Zambian Highlight Mining Investment Limited (ZHMI). The Solwezi mineral exploration licenses in Zambia covers approximately 506 km2 and is located adjacent to the copper mine in Africa, First Quantum's Kansanshi copper/gold mine. Its target areas include Dumbwa, Mitu, Kazhiba (22 Zone) and Crunch Zone. The 22 Zone is situated approximately 20 kilometers (km) northwest of the Solwezi Dome and is less than 10 km from the western mine gate of the Kansanshi Mine complex. Mitu is located in the southwestern portion of the Solwezi Project and features ore shale type mineralization on the flank of the Solwezi Dome. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Midnight Sun Mining Corp revenues was not reported. Net loss decreased 52% to C$1.5M. Lower net loss reflects Exploration expense decrease of 83% to C$279K (expense), Allowance for doubtful accounts recovery increase from C$365K (expense) to C$346K (income), Foreign exchange loss (gain) decrease from C$11K (expense) to C$4K (income). |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $32.08M as of Dec 31, 2023 |
| Annual revenue (TTM): | $0.00M as of Dec 31, 2023 |
| EBITDA (TTM): | -$1.83M as of Dec 31, 2023 |
| Net annual income (TTM): | -$1.54M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$1.62M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $0.52M as of Dec 31, 2023 |
| Shares outstanding: | 119,593,014 as of Apr 18, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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