With strong month to date growth and positive working capital balances, the companies on our list continue to generate value for shareholders
SmallCapPower | October 25, 2016: Working capital refers to the capital that a company has to conduct its day to day operations and is calculated by subtracting current liabilities from current assets. If a company has too much working capital it could mean that they are not managing and investing short-term assets effectively. Although gold has had a rough month, and is still down, it hasn’t affected the gold stocks on our list, and with positive net working capital these companies could continue to see its operations produce value without the need for short-term capital raises.
Orca Gold Inc. (CVE:ORG) – $0.51
Orca Gold Inc. is a junior exploration-stage company that is focused on the acquisition and exploration of mineral properties in Africa. Its exploration focus is on the Arabian Nubian Shield in the north of Sudan, where it holds the Block 14 prospecting license. Its property is located close to the Egyptian border, approximately 700 kilometers north of Khartoum and over 300 Kilometers west of the Red Sea. Its NI 43-101 compliant mineral resource estimate at Block 14 consists of over 27.6 million tons (Mt) at approximately 1.83 gold (Au) grams per ton (g/t) for over 1,625,000 ounces of gold and an Inferred resource of approximately 10.3 Mt at over 1.8 Au g/t for approximately 594,000 ounces of gold.
- Market Cap: $55.20 (mm)
- MTD Price PCT Change: 52.2%
- Current Assets (mm): $15.12
- Current Liabilities (mm): $1.94
CB Gold Inc. (CVE:CBJ) – $0.17
CB Gold Inc. (CB Gold) is a Canada-based mineral exploration and development company engaged primarily in the exploration, development and permitting of its mineral properties in the Republic of Colombia. The exploration activities include the Vetas Gold Project and the corporate activities include the evaluation and acquisition of mineral properties, treasury and finance, regulatory and corporate administration. The Vetas Gold Project is located near the village of Vetas, approximately 40 kilometers northeast of the city of Bucaramanga, comprising over 10 mining titles totaling an area of approximately 350 hectares. The Company also owns La Vereda property, which is located approximately five kilometers southwest of the Vetas Gold Project.
- Market Cap: $59.83 (mm)
- MTD Price PCT Change: 37.5%
- Current Assets (mm): $3.83
- Current Liabilities (mm): $1.57
Almadex Minerals Ltd. (CVE:AMZ) – $1.07
Almadex Minerals Ltd. is a copper and nickel ore mine operator that was founded in April 2015, and is located in Vancouver, Canada.
- Market Cap: $47.70 (mm)
- MTD Price PCT Change: 24.4%
- Current Assets (mm): $5.36
- Current Liabilities (mm): $0.26
Northern Vertex Mining Corp. (CVE:NEE) – $0.45
Northern Vertex Mining Corp. is an exploration- and development-stage mining company, which is focused on identifying mineralized deposits for development, mining or sale. Its primary project is the Moss Gold-Silver deposit (the Moss Mine) located in Mohave County, Arizona. The Moss Mine Project is an epithermal, brecciated, low sulfidation quartz-calcite vein and stockwork system, which extends over a strike length of approximately 1,400 meters and has been drill tested to depths of over 370 meters vertically. The Moss Mine Project encompasses approximately 15 patented lode claims covering over 102.8 hectares and approximately 468 unpatented lode claims for a total of over 4,030.8 hectares.
- Market Cap: $43.23 (mm)
- MTD Price PCT Change: 21.6%
- Current Assets (mm): $3.85
- Current Liabilities (mm): $1.79