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Minnova Corp

www: minnovacorp.ca   email: gglenn@minnovacorp.ca
Category: Junior: Late Stage Developer
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Symbol Data

Symbol Currency
CVE:MCI CAD
OTCMKTS:AGRDF USD

Description

Minnova Corp are a gold focused junior, late stage developer with one mine in development in Canada and one exploration property. They have approximately 0.7Moz. of gold in the reserves and resources category of which 0.3Moz. are in the measured and indicated category. They have a market capitalisation of ~C$2.97M which is a rise of roughly 22% over the last twelve months. As of 12/09/2023 they have ~C$1M debt and ~C$0.21M cash. They have 69M shares outstanding and trade on the Canadian Venture Exchange and the over-the-counter markets.

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General Details

Financial 12/09/2023
Last
Analysis
Data
Current Data
Item Value Value Updated
MCap (FD): $2.44M $2.97M 12/09/2023
Total Assets: $11.05M $10.74M 12/09/2023
Total Liabilities: $3.98M $3.87M 12/09/2023
Current Assets: $0.22M $0.21M 12/09/2023
Current Liabilities: $1.47M $1.43M 12/09/2023
Total Debt: $0.63M $0.61M 12/09/2023
Cash: $0.22M $0.21M 12/09/2023
Enterprise Value: $2.85M $3.37M 02/08/1970
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: 12/09/2023
Misc 12/09/2023
Last
Analysis
Data
Current Data
Item Value Value Updated
Shares Outstanding: 69,000,000 69,000,000 12/09/2023
Shares (FD): 83,000,000 83,000,000 12/09/2023
Insider Ownership: n/a n/a 09/29/2023
Dividend (Annual): n/a n/a never
Company Type: Mostly Gold Mostly Gold never
Production ETA: n/a n/a 12/09/2023
Production (Gold Eq Oz.): (guess) 
0		 (guess) 
0		 12/09/2023
Production (Silver Eq Oz.): (guess) 
0		 (guess) 
0		 12/09/2023
Initial CapEx (Outstanding): $30.00M
1227.11% of MCap		 $30.00M
1009.52% of MCap 		12/09/2023
Funding Option: n/a n/a 12/09/2023
Documentation: none PEA 04/02/2024
Future MCap Modifier: 0.08
Developer: Location Risk for Production
 0.08
Developer: Location Risk for Production
 12/09/2023
Cash Flow Multiplier: 2 2 12/09/2023

Resource Data

GOLD 12/09/2023
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 12/09/2023
Measured & Indicated: 0.30M 0.30M 12/09/2023
Inferred: 0.40M 0.40M 12/09/2023
Reserves & Resources: 0.70M 0.70M never
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 12/09/2023
Measured & Indicated: 0.22M 0.22M 12/09/2023
Inferred: 0.18M 0.18M 12/09/2023
Reserves & Resources: 0.40M 0.40M never
C
U
R
R
E
N
T		 Annual Production: n/a n/a
Cash Cost: n/a n/a 12/09/2023
Extra Operating Cost: n/a n/a 12/09/2023
Total: $1,500 $1,500 12/09/2023
Margin (Free Cash Flow): n/a
G
R
A
D
E		 Underground (Avg): 5.00 g/t 5.00 g/t 12/09/2023
Open Pit (Avg): n/a n/a 12/09/2023
Recovery Rate: (CG)  90.00% (CG)  90.00% 04/02/2024
F
U
T
U
R
E		 Proven & Probable: 0.50M 0.50M 12/09/2023
Annual Production: 40,000oz. 40,000oz. 12/09/2023
Cash Cost: $1,000 $1,000 12/09/2023
Extra Operating Cost: $500 $500 12/09/2023
SILVER 12/09/2023
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 12/09/2023
Measured & Indicated: n/a n/a 12/09/2023
Inferred: n/a n/a 12/09/2023
Reserves & Resources: n/a n/a never
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 12/09/2023
Measured & Indicated: n/a n/a 12/09/2023
Inferred: n/a n/a 12/09/2023
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 12/09/2023
Extra Operating Cost: n/a n/a 12/09/2023
Total: n/a n/a 12/09/2023
Margin (Free Cash Flow): n/a
G
R
A
D
E		 Underground (Avg): n/a n/a 12/09/2023
Open Pit (Avg): n/a n/a 12/09/2023
Recovery Rate: n/a n/a 12/09/2023
F
U
T
U
R
E		 Proven & Probable: n/a n/a 12/09/2023
Annual Production: n/a n/a 12/09/2023
Cash Cost: n/a n/a 12/09/2023
Extra Operating Cost: n/a n/a 12/09/2023

Property

Last Analysis Data  (12/09/2023)
Stage Name Owned Au Ag Cu Notes
Dev PL 100% show
PEA to produce 40,000 oz for 10 years.

Only $30 million capex. Permitted mill.
Exp La Esperanza 100% n/a
Total Land Package Size (ha): 2,700  
Current Data
Stage Name Owned Au Ag Cu Notes
Dev PL 100% show
PEA to produce 40,000 oz for 10 years.

Only $30 million capex. Permitted mill.
Exp La Esperanza 100% n/a
Total Land Package Size (ha): 2,700  

Profitability (by resource)

Proven &
Probable		 12/09/2023
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
Measured &
Indicated		 12/09/2023
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.): 0.30M 0.30M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.22M 0.22M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $108.97M $252.29M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $108.97M $252.29M n/a
Max Profit / Current MCap: 44.574 84.897 n/a
Max Profit Per Share (Gold): $1.31 $3.04 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $1.31 $3.04 n/a
Total Free Profit Per Share: $1.27 $2.99 n/a
FD MCap / Gold Eq.: $11.32 $13.76 n/a
FD MCap / Silver Eq.: $0.13 $0.16 n/a
FD MCap / Per Metal
as % Spot Price:		 0.56% 0.52% n/a

Reserves &
Resources		 12/09/2023
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.): 0.70M 0.70M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.40M 0.40M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $199.78M $462.53M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $199.78M $462.53M n/a
Max Profit / Current MCap: 81.718 155.644 n/a
Max Profit Per Share (Gold): $2.41 $5.57 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $2.41 $5.57 n/a
Total Free Profit Per Share: $2.37 $5.52 n/a
FD MCap / Gold Eq.: $6.17 $7.50 n/a
FD MCap / Silver Eq.: $0.07 $0.09 n/a
FD MCap / Per Metal
as % Spot Price:		 0.31% 0.28% n/a

Future Valuation (Cash Flow & Totals)

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