Every company starts out small. But over time, it develops its product/service, begins to generate sales, and overall grows the business. For a smaller company, however, a large setback in reaching a desired level of growth is its inability to fund itself. With a low cash balance, a business just cannot really be maintained. As the old saying goes, cash is king, and a lack of cash is a liquidity issue for the companies on this list.
Archon Minerals Ltd. (TSX: ACS) – $1.69
Diversified Mining
Archon Minerals Limited is a Canada-based exploration company engaged in the exploration of mineral properties in the Northwest Territories (NWT). The Company’s exploration projects include the Buffer Zone Joint Venture, NWT and Monument Project, NWT.
- Market Cap: $90,231,488
- Total Assets: $53,940,160
- Total Liabilities: $38,540,190
- Cash and Short Term Investments: $251,040
MagIndustries Corp. (TSX: MAA) – $0.13
Construction Materials
MagIndustries Corp. is focused on the development of its wholly-owned subsidiary, MagMinerals Potash Corp. (MagMinerals) and Mengo potash project (the Project). The Company is organized around two principal business units: MagMinerals and MagForestry. The Project is located near the village of Mengo, 25 kilometers east of the Atlantic port city of PointeNoire, Republic of Congo. MagMinerals owns rights to the Kouilou Potash Project, a Greenfield potash deposits. MagMinerals’ principal asset comprises of the rights relating to the Project and an approximately 1,500 square kilometers area within Kouilou province of the Republic of Congo (ROC).
- Market Cap: $98,272,548
- Total Assets: $190,239,073
- Total Liabilities: $122,652,180
- Cash and Short Term Investments: $1,032,271
Zenyatta Ventures Ltd. (TSX: ZEN) – $1.81
Specialty Mining & Metals
Zenyatta Ventures Ltd. is a Canada-based junior mineral exploration company engaged primarily on mineral deposits in northern Ontario, Canada. The Company is engaged in exploring mining projects and holds an interest in exploration licenses on properties in the Arc of Fire area in northern Ontario. It is focused on developing the Albany Graphite Deposit, a very rare, hydrothermal, breccia-hosted, graphite deposit situated in northeastern Ontario. The Albany graphite deposit is located 30 kilometres north of the Trans-Canada Highway, and close to excellent infrastructure, including power lines and a natural gas pipeline near the communities of Constance Lake First Nation and Hearst. A rail line is located 70 kilometres away and an all-weather road extends to approximately 4-5 kilometers from the graphite deposit.
- Market Cap: $99,673,116
- Total Assets: $21,080,760
- Total Liabilities: $355,160
- Cash and Short Term Investments: $1,239,480
Zargon Oil & Gas Ltd. (TSX: ZAR) – $3.07
Oil & Gas Exploration and Production
Zargon Oil & Gas Ltd. is a Canada-based oil and gas producer. The Company has constructed an Alkaline Surfactant Polymer (ASP) recovery project at its Little Bow property in southern Alberta. The project activity includes injecting approximately 2.3 million barrels of ASP solution. The project utilizes the injection of chemicals in dilute concentrations to flush out incremental oil production and reserves. The Company’s focus is to increase oil recovery factors and oil production from existing oil reservoirs through reservoir engineering and the geosciences and then employ different exploitation techniques, including waterfloods and tertiary floods to improve oil production and reserves.
- Market Cap: $92,941,815
- Total Assets: $377,162,000
- Total Liabilities: $221,491,000
- Cash and Short Term Investments: $1,542,000
Sprott Resource Corp. (TSX: SCP) – $0.99
Investment Management & Fund Operators
Sprott Resource Corp. (SRC) is a Canada-based natural resources company. The Company invests and operates in the natural resource space as a private equity investor. The Company, through acquisitions, joint ventures and other investments, and for its shareholders, invests for the purposes of capital appreciation and wealth preservation. SRC invests and operates through Sprott Resource Partnership (SRP), a partnership between SRC and Sprott Resource Consulting Limited Partnership. The Company focuses on Energy and Energy Service, Mining, and the Agriculture sectors. The Company’s investments include Virginia Energy Resources Inc., InPlay Oil Corp, One Earth Farms Corp., One Earth Oil & Gas Inc., Potash Ridge Corporation, Union Agriculture Group and Independence Contract Drilling, Inc. The Company’s other completed investments include PBS Coals, Waseca Energy, silver and gold bullion.
- Market Cap: $95,804,240
- Total Assets: $217,202,000
- Total Liabilities: $15,286,000
- Cash and Short Term Investments: $2,024,000
