Velocity Minerals Ltd. (V:VLC)
Business Focus: Gold Mining
| Sector: Basic Materials | Industry: Gold |
| Company Contact | |
| Address: | 890 - 999 West Hastings Street VANCOUVER BC V6C 2W2 |
| Tel: | N/A |
| Website: | https://www.velocityminerals.com |
| IR: | See website |
| Key People | ||
| Keith J. Henderson President, Chief Executive Officer, Director | Darren Morgans Chief Financial Officer | Daniel Marinov Vice President - Operations, Director |
| Business Overview |
| Velocity Minerals Ltd. (Velocity) is a Canada-based precious metals and copper explorer focused on Eastern Europe. The Company is in the business of acquiring, exploring, and evaluating mineral resource properties in Bulgaria. In Bulgaria, the Company has a 70% interest in the Tintyava property, which includes the prefeasibility-stage Rozino deposit. The Company also has a 70% interest in the Momchil property (which includes the Obichnik project), a 70% interest in the Nadezhda property (which includes the Makedontsi project), and a 70% interest in the Dangovo property (which is contiguous with the Makedontsi project). The Company holds a 100% interest in the Iglika copper-gold exploration property and entered into an option agreement with DPM, who have an option to earn a 75% interest in the property. The Company has also entered into agreements to acquire a 75% interest in the Zlatusha and Kalabak copper-gold exploration properties. |
| Financial Overview |
| For the nine months ended 30 September 2023, Velocity Minerals Ltd revenues was not reported. Net loss decreased 30% to C$1.4M. Lower net loss reflects Project evaluation decrease of 52% to C$252K (expense), Salaries and benefits decrease of 15% to C$574K (expense), Professional Fees decrease of 19% to C$270K (expense). Basic Earnings per Share excluding Extraordinary Items remained flat at -C$0.01. |
| Employees: | 20 as of Dec 31, 2022 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $18.74M as of Sep 30, 2023 |
| Annual revenue (TTM): | $0.00M as of Sep 30, 2023 |
| EBITDA (TTM): | -$2.15M as of Sep 30, 2023 |
| Net annual income (TTM): | -$2.03M as of Sep 30, 2023 |
| Free cash flow (TTM): | -$3.68M as of Sep 30, 2023 |
| Net Debt Last Fiscal Year: | N/A |
| Shares outstanding: | 196,200,395 as of Apr 1, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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