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Pelangio Exploration Inc

www: www.pelangio.com   email: ir@pelangio.com
Category: Junior: Late Stage Developer
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Symbol Data

Symbol Currency
CVE:PX CAD
OTCMKTS:PGXPF USD

Description

Pelangio Exploration Inc are a gold focused junior, late stage developer with one mine in development in Ghana and exploration properties. They have approximately 0.5Moz. of gold in the reserves and resources category of which 0.2Moz. are in the measured and indicated category. They have a market capitalisation of ~C$38.01M which is a rise of roughly 405% over the last nine months. As of 02/14/2025 they have no debt and ~C$0.37M cash. They have 173M shares outstanding and trade on the Canadian Venture Exchange and the over-the-counter markets.

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General Details

Financial 02/14/2025
Last
Analysis
Data
Current Data
Item Value Value Updated
MCap (FD): $7.52M $38.01M 02/14/2025
MCap (OS): $4.87M $24.60M 02/14/2025
Total Assets: $0.41M $0.41M 02/14/2025
Total Liabilities: $0.71M $0.71M 02/14/2025
Current Assets: $0.41M $0.41M 02/14/2025
Current Liabilities: $0.71M $0.71M 02/14/2025
Total Debt: $0.00M $0.00M 02/14/2025
Cash: $0.36M $0.37M 02/14/2025
Debt (Net): $-0.36M $-0.37M
Enterprise Value: $7.16M $37.64M 03/12/1971
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: 02/14/2025
Misc 02/14/2025
Last
Analysis
Data
Current Data
Item Value Value Updated
Shares Outstanding: 172,660,219 172,660,219 02/14/2025
Shares (FD): 266,765,383 266,765,383 02/14/2025
Insider Ownership: n/a n/a never
Dividend (Annual): n/a n/a never
Company Type: Mostly Gold Mostly Gold never
Group: Developer Developer never
Production ETA: n/a n/a 02/14/2025
Production (Gold Eq Oz.): (guess) 
0		 (guess) 
0		 02/14/2025
Production (Silver Eq Oz.): (guess) 
0		 (guess) 
0		 02/14/2025
Development Phase: none none 02/14/2025
Optionality Play: none No
F
U
T
U
R
E		 % of Spot: 5
Developer: Early Development
 5
Developer: Early Development
 08/27/2024
Cash Flow Multiple: 2 2 08/27/2024

Resource Data

GOLD 02/14/2025
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 02/14/2025
Measured & Indicated: 0.20M 0.20M 02/14/2025
Inferred: 0.30M 0.30M 02/14/2025
Reserves & Resources: 0.50M 0.50M never
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 02/14/2025
Measured & Indicated: 0.14M 0.14M 02/14/2025
Inferred: 0.14M 0.14M 02/14/2025
Reserves & Resources: 0.28M 0.28M never
C
U
R
R
E
N
T		 Annual Production: n/a n/a
Cash Cost: n/a n/a 02/14/2025
Extra Operating Cost: n/a n/a 02/14/2025
Total: $1,600 $1,600 02/14/2025
Margin (Free Cash Flow): n/a
MCap / Production (AuEq): n/a n/a
EV / Production (AuEq): n/a n/a
G
R
A
D
E		 Underground (Avg): n/a n/a 02/14/2025
Open Pit (Avg): n/a 1.00 g/t 08/27/2024
Recovery Rate: (CG)  90.00% (CG)  90.00% 02/14/2025
F
U
T
U
R
E		 Proven & Probable: 0.40M 0.40M 02/14/2025
Annual Production: 35,000oz. 35,000oz. 02/14/2025
Cash Cost: $1,000 $1,000 02/14/2025
Extra Operating Cost: $600 $600 02/14/2025
SILVER 02/14/2025
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 02/14/2025
Measured & Indicated: n/a n/a 02/14/2025
Inferred: n/a n/a 02/14/2025
Reserves & Resources: n/a n/a never
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 02/14/2025
Measured & Indicated: n/a n/a 02/14/2025
Inferred: n/a n/a 02/14/2025
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 02/14/2025
Extra Operating Cost: n/a n/a 02/14/2025
Total: n/a n/a 02/14/2025
Margin (Free Cash Flow): n/a
MCap / Production (AgEq): n/a n/a
EV / Production (AgEq): n/a n/a
G
R
A
D
E		 Underground (Avg): n/a n/a 02/14/2025
Open Pit (Avg): n/a n/a 03/19/2023
Recovery Rate: n/a n/a 02/14/2025
F
U
T
U
R
E		 Proven & Probable: n/a n/a 02/14/2025
Annual Production: n/a n/a 02/14/2025
Cash Cost: n/a n/a 02/14/2025
Extra Operating Cost: n/a n/a 02/14/2025

Property

Last Analysis Data  (02/14/2025)
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 Au Ag Cu Notes
Exp Birch Lake
20 show
They entered to a JV with First Mining Finance which can earn 80% . I is adjacent to their Springpole project.

Size: 2,500 ha
Exp Dalton
10 show
Early exploration.
On August 26, 2020, the Company relinquished its option to earn a 90% interest in the Dalton
Property.

Size: 350 ha
Exp Grenfell
20 n/a
Exp Hailstone
90 show
Size: 74,500 ha
Exp Kenogaming
100 show
Size: 178 ha
Exp Poirier
100 n/a
Dev Manfo
90 show
500,000 oz shallow deposit (1 gpt). Still early exploration, but they appear to be advancing it toward production.

Size: 10,000 ha
Exp Dankran
100 show
Adjacent to historic Obuom mine which in the 1930’s produced 29,000 ounces at an average grade of 16 g/t Au, with recent extensive artisanal mining activity evident extending from the mine site into the Dankran property;

Very limited exploration to date.

In order to acquire 100% interest in the Dankran property, Pelangio must pay to BNT Ghana an aggregate of $300,000, and issue 1,000,000 shares

Size: 3,400 ha
Exp Obuasi
100 show
Large property next door to a 30 million oz deposit.

Size: 28,000 ha
Current Data
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 Au Ag Cu Notes
Exp Birch Lake
20 show
They entered to a JV with First Mining Finance which can earn 80% . I is adjacent to their Springpole project.

Size: 2,500 ha
Exp Dalton
10 show
Early exploration.
On August 26, 2020, the Company relinquished its option to earn a 90% interest in the Dalton
Property.

Size: 350 ha
Exp Grenfell
20 n/a
Exp Hailstone
90 show
Size: 74,500 ha
Exp Kenogaming
100 show
Size: 178 ha
Exp Poirier
100 n/a
Dev Manfo
90 show
500,000 oz shallow deposit (1 gpt). Still early exploration, but they appear to be advancing it toward production.

Size: 10,000 ha
Exp Dankran
100 show
Adjacent to historic Obuom mine which in the 1930’s produced 29,000 ounces at an average grade of 16 g/t Au, with recent extensive artisanal mining activity evident extending from the mine site into the Dankran property;

Very limited exploration to date.

In order to acquire 100% interest in the Dankran property, Pelangio must pay to BNT Ghana an aggregate of $300,000, and issue 1,000,000 shares

Size: 3,400 ha
Exp Obuasi
100 show
Large property next door to a 30 million oz deposit.

Size: 28,000 ha

Profitability (by resource)

Proven &
Probable		 02/14/2025
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: n/a n/a n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): n/a n/a n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: n/a n/a n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): n/a n/a n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: n/a n/a n/a
Max Profit / Current MCap: n/a n/a n/a
Max Profit Per Share (Gold): n/a n/a n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: n/a n/a n/a
Total Free Profit Per Share: n/a n/a n/a
FD MCap / Gold Eq.: n/a n/a n/a
FD MCap / Silver Eq.: n/a n/a n/a
FD MCap / Per Metal
as % Spot Price:		 n/a n/a n/a
EV / Gold Eq.: n/a n/a n/a
EV / Silver Eq.: n/a n/a n/a
EV / Per Metal
as % Spot Price:		 n/a n/a n/a
Measured &
Indicated		 02/14/2025
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.): 0.20M 0.20M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.14M 0.14M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $185.27M $343.28M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $185.27M $343.28M n/a
Max Profit / Current MCap: 24.621 9.032 n/a
Max Profit Per Share (Gold): $0.69 $1.29 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $0.69 $1.29 n/a
Total Free Profit Per Share: $0.65 $1.09 n/a
FD MCap / Gold Eq.: $52.26 $263.94 n/a
FD MCap / Silver Eq.: $0.59 $3.18 n/a
FD MCap / Per Metal
as % Spot Price:		 1.81% 6.63% n/a
EV / Gold Eq.: $49.74 $261.40 n/a
EV / Silver Eq.: $0.56 $3.15 n/a
EV / Per Metal
as % Spot Price:		 1.72% 6.56% n/a

Reserves &
Resources		 02/14/2025
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.): 0.50M 0.50M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.28M 0.28M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $358.96M $665.11M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $358.96M $665.11M n/a
Max Profit / Current MCap: 47.703 17.499 n/a
Max Profit Per Share (Gold): $1.35 $2.49 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $1.35 $2.49 n/a
Total Free Profit Per Share: $1.31 $2.29 n/a
FD MCap / Gold Eq.: $26.97 $136.23 n/a
FD MCap / Silver Eq.: $0.30 $1.64 n/a
FD MCap / Per Metal
as % Spot Price:		 0.93% 3.42% n/a
EV / Gold Eq.: $25.67 $134.92 n/a
EV / Silver Eq.: $0.29 $1.63 n/a
EV / Per Metal
as % Spot Price:		 0.89% 3.39% n/a

Future Valuation (Cash Flow & Totals)

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