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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
CVE:EOX CAD
OTCMKTS:EOXFF USD

Description

Euromax Resources Ltd are a gold focused junior, late stage developer 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$6.95M which is a fall of roughly 50% over the last twelve months. As of 07/23/2024 they have ~C$27M debt and ~C$0.07M cash. They have 556M shares outstanding and trade on the Canadian Venture Exchange and the over-the-counter markets.

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General Details

Financial 07/23/2024
Last
Analysis
Data
Current Data
Item Value Value Updated
MCap (FD): $13.83M $6.95M 07/23/2024
Total Assets: $27.61M $27.76M 07/23/2024
Total Liabilities: $27.61M $27.76M 07/23/2024
Current Assets: $0.36M $0.37M 07/23/2024
Current Liabilities: $27.61M $27.76M 07/23/2024
Total Debt: $26.88M $27.03M 07/23/2024
Cash: $0.07M $0.07M 07/23/2024
Enterprise Value: $40.64M $33.90M 01/28/1971
Cash Flow: $0.00M $0.00M never
Cash Flow Multiple: 0.00 0.00 never
Net Debt to
Cash Flow Ratio:		 n/a n/a never
Finance within 1 year: 07/23/2024
Misc 07/23/2024
Last
Analysis
Data
Current Data
Item Value Value Updated
Shares Outstanding: 556,482,548 556,482,548 07/23/2024
Shares (FD): 951,732,286 951,732,286 07/23/2024
Insider Ownership: n/a 20% 07/23/2024
Dividend (Annual): n/a n/a never
Company Type: Mostly Gold Mostly Gold never
Production ETA: n/a 01/01/2024 07/23/2024
Production (Gold Eq Oz.): (guess) 
0		 (guess) 
0		 07/23/2024
Production (Silver Eq Oz.): (guess) 
0		 (guess) 
0		 07/23/2024
Initial CapEx (Outstanding): $474.00M
3427.67% of MCap		 $474.00M
6818.55% of MCap 		07/23/2024
Funding Option: n/a (guess)  Debt Financing 07/23/2024
Documentation: none FS 07/23/2024
Future MCap Modifier: 0.05
Developer: Early Development
 0.05
Developer: Early Development
 07/18/2023
Cash Flow Multiplier: 2 2 07/23/2024

Resource Data

GOLD 07/23/2024
Last Analysis Data
Current Data
Item Value Value Updated
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 2.00M 2.00M 07/23/2024
Measured & Indicated: 2.50M 2.50M 07/23/2024
Inferred: 0.25M 0.25M 07/23/2024
Reserves & Resources: 2.75M 2.75M never
P
L
A
U
S
I
B
L
E		 Proven & Probable: 1.70M 1.70M 07/23/2024
Measured & Indicated: 2.04M 2.04M 07/23/2024
Inferred: 0.11M 0.11M 07/23/2024
Reserves & Resources: 2.15M 2.15M never
C
U
R
R
E
N
T		 Annual Production: n/a n/a
Cash Cost: n/a n/a 07/23/2024
Extra Operating Cost: n/a n/a 07/23/2024
Total: $600 $600 07/23/2024
Margin (Free Cash Flow): n/a
G
R
A
D
E		 Underground (Avg): n/a n/a 07/23/2024
Open Pit (Avg): n/a 0.33 g/t 07/18/2023
Recovery Rate: (CG)  85.00% (CG)  85.00% 07/23/2024
F
U
T
U
R
E		 Proven & Probable: 2.00M 2.00M 07/23/2024
Annual Production: 70,000oz. 70,000oz. 07/23/2024
Cash Cost: $300 $300 07/23/2024
Extra Operating Cost: $300 $300 07/23/2024
SILVER 07/23/2024
Last Analysis Data
Current Data
Item Value Value Updated
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 07/23/2024
Measured & Indicated: n/a n/a 07/23/2024
Inferred: n/a n/a 07/23/2024
Reserves & Resources: n/a n/a never
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 07/23/2024
Measured & Indicated: n/a n/a 07/23/2024
Inferred: n/a n/a 07/23/2024
Reserves & Resources: n/a n/a never
C
U
R
R
E
N
T		 Annual Production: n/a n/a
Cash Cost: n/a n/a 07/23/2024
Extra Operating Cost: n/a n/a 07/23/2024
Total: n/a n/a 07/23/2024
Margin (Free Cash Flow): n/a
G
R
A
D
E		 Underground (Avg): n/a n/a 07/23/2024
Open Pit (Avg): n/a n/a 07/18/2023
Recovery Rate: n/a n/a 07/23/2024
F
U
T
U
R
E		 Proven & Probable: n/a n/a 07/23/2024
Annual Production: n/a n/a 07/23/2024
Cash Cost: n/a n/a 07/23/2024
Extra Operating Cost: n/a n/a 07/23/2024

Property

Last Analysis Data  (07/23/2024)
Stage Name Owned Au Ag Cu Notes
Exp Breznik 100% n/a
Exp Trun 100% show
2 million oz open pit at .7 gpt. PEA coming soon.
Dev Ilovitza 100% 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.
Exp KMC 100% show
Early gold/copper project.
Total Land Package Size (ha): 13,000  
Current Data
Stage Name Owned Au Ag Cu Notes
Exp Breznik 100% n/a
Exp Trun 100% show
2 million oz open pit at .7 gpt. PEA coming soon.
Dev Ilovitza 100% 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.
Exp KMC 100% show
Early gold/copper project.
Total Land Package Size (ha): 13,000  

Profitability (by resource)

Proven &
Probable		 07/23/2024
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 2.00M 2.00M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 1.70M 1.70M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $3,086.18M $4,613.29M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $3,086.18M $4,613.29M n/a
Max Profit / Current MCap: 223.173 663.628 n/a
Max Profit Per Share (Gold): $3.24 $4.85 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $3.24 $4.85 n/a
Total Free Profit Per Share: $3.22 $4.84 n/a
FD MCap / Gold Eq.: $8.13 $4.09 n/a
FD MCap / Silver Eq.: $0.10 $0.04 n/a
FD MCap / Per Metal
as % Spot Price:		 0.34% 0.12% n/a
Measured &
Indicated		 07/23/2024
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 2.50M 2.50M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 2.04M 2.04M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $3,703.42M $5,535.95M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $3,703.42M $5,535.95M n/a
Max Profit / Current MCap: 267.808 796.353 n/a
Max Profit Per Share (Gold): $3.89 $5.82 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $3.89 $5.82 n/a
Total Free Profit Per Share: $3.87 $5.81 n/a
FD MCap / Gold Eq.: $6.78 $3.41 n/a
FD MCap / Silver Eq.: $0.08 $0.04 n/a
FD MCap / Per Metal
as % Spot Price:		 0.28% 0.10% n/a

Reserves &
Resources		 07/23/2024
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 2.75M 2.75M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 2.15M 2.15M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $3,896.30M $5,824.28M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $3,896.30M $5,824.28M n/a
Max Profit / Current MCap: 281.756 837.830 n/a
Max Profit Per Share (Gold): $4.09 $6.12 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $4.09 $6.12 n/a
Total Free Profit Per Share: $4.07 $6.11 n/a
FD MCap / Gold Eq.: $6.44 $3.24 n/a
FD MCap / Silver Eq.: $0.08 $0.04 n/a
FD MCap / Per Metal
as % Spot Price:		 0.27% 0.10% n/a

Future Valuation (Cash Flow & Totals)

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