South Pacific Metals Corp. (V:SPMC)
Business Focus: Diversified Mining
| Sector: Basic Materials | Industry: Diversified Mining |
| Company Contact | |
| Address: | 550 Burrard Street. Suite 2900 Vancouver BC V6C 0A3 |
| Tel: | N/A |
| Website: | https://kainanturesources.com |
| IR: | See website |
| Key People | ||
| N/A | ||
| Business Overview |
| South Pacific Metals Corp., formerly Kainantu Resources Ltd., is an Asia-Pacific focused gold mining company with four prospective gold-copper projects, such as May River, Kili Teke, KRL North and KRL South (including the prospective Ontenu prospect). All projects are located in mining regions in Papua New Guinea (PNG). Both KRL North and KRL South host high-grade epithermal and porphyry mineralization in the Kainantu Gold District. The May River project is in close proximity to the Frieda River Copper-Gold Project, with historical drilling indicating the potential for significant copper-gold projects. May River project is located less than 15 kilometers (km) from the PanAust-owned Frieda River Project. Kili Teke project is an advanced development project with an existing NI43-101 compliant inferred mineral resource. The Kili Teke project comprises EL 2310 and is located approximately 40 km west-northwest of the Porgera Gold Mine, in the Koroba-Kopiago District of Hela Province, PNG. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, South Pacific Metals Corp. revenues was not reported. Net loss increased 8% to $1.6M. Higher net loss reflects Impairment of equipment increase from $78K to $188K (expense), Interest and accretion increase from $0K to $100K (expense), Accounting and legal increase of 23% to $266K (expense). Basic Earnings per Share excluding Extraordinary Items increased from -$0.24 to -$0.16. |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $12.23M as of Dec 31, 2023 |
| Annual revenue (TTM): | $0.00M as of Dec 31, 2023 |
| EBITDA (TTM): | -$1.58M as of Dec 31, 2023 |
| Net annual income (TTM): | -$2.19M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$2.12M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | N/A |
| Shares outstanding: | 34,978,920 as of May 7, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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