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Euromax Resources Ltd

www: www.euromaxresources.com   email: mkostovska@euromaxresources.mk
Category: Junior: Late Stage Developer
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Symbol Data

Symbol Currency
TSE:EOX CAD
OTCMKTS:EOXFF USD

Description

Euromax Resources Ltd are a gold focused junior, late stage development company with one mine in development in Macedonia (FYR) and three exploration properties. They have approximately 2.75Moz. of gold in the reserves and resources category of which 2.5Moz. are in the measured and indicated category. They have a market capitalisation of ~C$15.96M which is a fall of roughly 37% over the last three months. As of 07/09/2022 they have ~C$27M debt and ~C$4.76M cash. They have 353M shares outstanding and trade on the Toronto Stock Exchange and the over-the-counter markets.

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General Details

Financial 07/09/2022
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Mkt. Cap (FD): $25.17M $15.96M 07/09/2022 $-9.21M
Total Assets: $36.18M $34.42M 07/09/2022 $-1.77M
Total Liabilities: $29.25M $27.83M 07/09/2022 $-1.43M
Current Assets: $5.00M $4.76M 07/09/2022 $-0.24M
Current Liabilities: $29.25M $27.83M 07/09/2022 $-1.43M
Total Debt: $28.48M $27.09M 07/09/2022 $-1.39M
Cash: $5.00M $4.76M 07/09/2022 $-0.24M
Enterprise Value: $48.65M $38.30M 03/20/1971 $-10.36M
Cash Flow: $0.00M $0.00M never $0.00M
Cash Flow Multiple: 0.00 0.00 never 0.00
Net Debt to
Cash Flow Ratio:
n/a n/a never 0.00
Finance within 1 year: 07/09/2022 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 07/09/2022 0.00%
Misc 07/09/2022
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Shares Outstanding: 353,000,000 353,000,000 07/09/2022 0
Shares (FD): 545,000,000 545,000,000 07/09/2022 0
Insider Ownership: n/a 20% 07/09/2022 20%
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a 01/01/2024 07/09/2022 n/a
Production (Gold Eq Oz.): (guess) 
0
(guess) 
0
07/09/2022 0
Production (Silver Eq Oz.): (guess) 
0
(guess) 
0
07/09/2022 0
Initial CapEx (Outstanding): $474.00M
1882.89% of Mkt.Cap
$474.00M
2969.33% of Mkt.Cap
07/09/2022 $0.00M
Funding Option: n/a (guess)  Debt Financing 07/09/2022 n/a
Documentation: none FS 07/09/2022 n/a
Value Adjustment: none none never 0%

Resource Data

GOLD 07/09/2022
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: 2.00M 2.00M 07/09/2022 0.00M
Measured & Indicated: 2.50M 2.50M 07/09/2022 0.00M
Inferred: 0.25M 0.25M 07/09/2022 0.00M
Reserves & Resources: 2.75M 2.75M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: 1.70M 1.70M 07/09/2022 0.00M
Measured & Indicated: 2.04M 2.04M 07/09/2022 0.00M
Inferred: 0.11M 0.11M 07/09/2022 0.00M
Reserves & Resources: 2.15M 2.15M never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 07/09/2022 $0.00
Extra Operating Cost: n/a n/a 07/09/2022 $0.00
Average Grade: 0.33 g/t 0.33 g/t 07/09/2022 n/a
Recovery Rate: (CG)  85.00% (CG)  85.00% 07/09/2022 0.00%
F
U
T
U
R
E
Proven & Probable: 2.00M 2.00M 07/09/2022 0.00M
Annual Production: 70,000oz. 70,000oz. 07/09/2022 0oz.
Cash Cost: $300 $300 07/09/2022 $0
Extra Operating Cost: $300 $300 07/09/2022 $0
SILVER 07/09/2022
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: n/a n/a 07/09/2022 0.00M
Measured & Indicated: n/a n/a 07/09/2022 0.00M
Inferred: n/a n/a 07/09/2022 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: n/a n/a 07/09/2022 0.00M
Measured & Indicated: n/a n/a 07/09/2022 0.00M
Inferred: n/a n/a 07/09/2022 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 07/09/2022 $0.00
Extra Operating Cost: n/a n/a 07/09/2022 $0.00
Average Grade: n/a n/a 07/09/2022 n/a
Recovery Rate: n/a n/a 07/09/2022 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 07/09/2022 0.00M
Annual Production: n/a n/a 07/09/2022 n/a
Cash Cost: n/a n/a 07/09/2022 n/a
Extra Operating Cost: n/a n/a 07/09/2022 n/a

Property

Last Analysis Data  (07/09/2022)
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Exploration Sofia, Bulgaria Breznik 100% n/a n/a n/a
Exploration Sofia, Bulgaria Trun 100% 6,500 Open Pit show
2 million oz open pit at .7 gpt. PEA coming soon.
Development Strumitza, Macedonia, Macedonia (FYR) Ilovitza 100% 500 Open Pit show
2.5 million oz gold resource (.33 gpt with nearly 2 billion lbs of copper.

85% recovery rates for gold. It is really a copper mine with a large capex and low IRR (around 15%).

25% of first 500,000 oz go to Royal gold at 25% of the spot price.
Then 12.5 for the LOM.
Exploration Novi Passar, Serbia KMC 100% 6,000 n/a show
Early gold/copper project.
Total Land Package Size (ha): 13,000  
Current Data
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Exploration Sofia, Bulgaria Breznik 100% n/a n/a n/a
Exploration Sofia, Bulgaria Trun 100% 6,500 Open Pit show
2 million oz open pit at .7 gpt. PEA coming soon.
Development Strumitza, Macedonia, Macedonia (FYR) Ilovitza 100% 500 Open Pit show
2.5 million oz gold resource (.33 gpt with nearly 2 billion lbs of copper.

85% recovery rates for gold. It is really a copper mine with a large capex and low IRR (around 15%).

25% of first 500,000 oz go to Royal gold at 25% of the spot price.
Then 12.5 for the LOM.
Exploration Novi Passar, Serbia KMC 100% 6,000 n/a show
Early gold/copper project.
Total Land Package Size (ha): 13,000  

Profitability (by resource)

Proven &
Probable
07/09/2022
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 2.00M 2.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -5.19M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 1.70M 1.70M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -4.41M
Maximum Profit (Gold): $1,473.22M $1,320.07M n/a $-153.15M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $1,473.22M $1,320.07M n/a $-153.15M
Max Profit / Current MCap: 58.521 82.694 n/a 24.173
Max Profit Per Share (Gold): $2.70 $2.42 n/a $-0.28
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $2.70 $2.42 n/a $-0.28
Total Free Profit Per Share: $2.64 $2.38 n/a $-0.26
FD Mkt. Cap / Gold Eq.: $14.81 $9.39 n/a $-5.42
FD Mkt. Cap / Silver Eq.: $0.17 $0.11 n/a $-0.06
FD Mkt. Cap / Per Metal
as % Spot Price:
0.81% 0.55% n/a -0.26%
Measured &
Indicated
07/09/2022
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 2.50M 2.50M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -6.49M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 2.04M 2.04M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -5.30M
Maximum Profit (Gold): $1,767.86M $1,584.08M n/a $-183.78M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $1,767.86M $1,584.08M n/a $-183.78M
Max Profit / Current MCap: 70.226 99.233 n/a 29.008
Max Profit Per Share (Gold): $3.24 $2.91 n/a $-0.34
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $3.24 $2.91 n/a $-0.34
Total Free Profit Per Share: $3.18 $2.87 n/a $-0.32
FD Mkt. Cap / Gold Eq.: $12.34 $7.83 n/a $-4.52
FD Mkt. Cap / Silver Eq.: $0.14 $0.09 n/a $-0.05
FD Mkt. Cap / Per Metal
as % Spot Price:
0.67% 0.46% n/a -0.21%

Reserves &
Resources
07/09/2022
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 2.75M 2.75M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -7.14M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 2.15M 2.15M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -5.57M
Maximum Profit (Gold): $1,859.94M $1,666.58M n/a $-193.36M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $1,859.94M $1,666.58M n/a $-193.36M
Max Profit / Current MCap: 73.883 104.402 n/a 30.518
Max Profit Per Share (Gold): $3.41 $3.06 n/a $-0.35
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $3.41 $3.06 n/a $-0.35
Total Free Profit Per Share: $3.35 $3.02 n/a $-0.33
FD Mkt. Cap / Gold Eq.: $11.73 $7.44 n/a $-4.29
FD Mkt. Cap / Silver Eq.: $0.14 $0.09 n/a $-0.05
FD Mkt. Cap / Per Metal
as % Spot Price:
0.64% 0.44% n/a -0.20%

Future Valuation (Cash Flow & Totals)

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