Anomalies such as a company being valued by the market at less than the cash on its books do happen, perhaps suggesting it will either burn through its money or it has unforeseen liabilities. That being said the companies on our list today, for some reason or another, have a cash balance that exceeds its market capitalization.
Automodular Corp. (TSX: AM) – $2.37
Auto, Truck & Motorcycle Parts
Automodular Corporation is a Canada-based sequencer and sub-assembler of components and modules that are installed in cars and trucks made by North American Original Equipment Manufacturers (OEMs). The Company’s products include instrument panel, rear suspension, front corner, front center suspension, front strut and bolster. Automodular Corporation also manufactures complex sub-assemblies such as cockpits, suspension units and powerpacks. Automodular helps the renewable energy companies in sub-assembly of complex components, sequencing of the finished product in the order required, transportation and logistics, and installation and maintenance services.
- Market Cap: $46,122,290
- Revenues (LTM): $66,212,000
- Cash and Short Term Investment (LFQ): $55,624,000
- Total Debt (LFQ): $0
Migao Corp. (TSX: MGO) – $0.79
Agricultural Chemicals
Migao Corporation is a producer of potash-based fertilizers. The Company currently produces two specialty potash-based fertilizers: potassium nitrate and potassium sulphate, for the Chinese agricultural market. These two products comprise 85% of its revenue. The balance of revenue comes from the sale of fertilizer manufacturing by-products, such as ammonium chloride, a nitrogen-bearing fertilizer, and hydrochloric acid, a chemical with substantial industrial demand. Migao’s patented technology allows the Company to offer a consistent supply of high quality fertilizers that are ideal for high-value crops such as fruits and vegetables, tobacco, and cotton.
- Market Cap: $46,382,854
- Revenues (LTM): $444,487,000
- Cash and Short Term Investment (LFQ): $72,944,000
- Total Debt (LFQ): $274,693,000
Minco Silver Corp. (TSX: MSV) – $0.51
Non-Gold Precious Metals & Minerals
Minco Silver Corporation is a Canada-based silver mining company focused on its flagship project, the Fuwan Silver project in China. The Company holds three exploration permits, totaling 125.74 square kilometers. The first, the Luoke-Jilinggang, is 57.16 square kilometers in size and held by Foshan Minco, while the other two permits, the Guyegang permit totaling 55.88 square kilometers and the Hecun permit totaling 12.7 square kilometers, are held by Minco China in trust for Foshan Minco. The Company has only worked on approximately 2.8 kilometers of a 10 kilometers strike length.
- Market Cap: $30,412,023
- Revenues (LTM): $0
- Cash and Short Term Investment (LFQ): $50,019,670
- Total Debt (LFQ): $0
Niko Resources Ltd. (TSX: NKO) – $0.24
Oil & Gas Exploration and Production
Niko Resources Ltd. is a Canada-based company engaged in oil and natural gas exploration and production. The Company is focused on value generation in the D6 Block in India. The D6 Block is 1,888,315 gross acres (offshore), located in the Krishna-Godavari Basin in India. The Trinidad and Tobago region of the Company has produced over 2 billion barrels of oil.
- Market Cap: $22,655,566
- Revenues (LTM): $139,172,891
- Cash and Short Term Investment (LFQ): $75,654,230
- Total Debt (LFQ): $553,060,125
Phoscan Chemical Corp. (TSX: FOS) – $0.285
Agricultural Chemicals
PhosCan Chemical Corp. (PhosCan) is a Canada-based company engaged in the development of the Martison Phosphate Project located 70 kilometers north of Hearst, Ontario. PhosCan’s current activities are primarily directed at maintaining the Project in good standing with all stakeholders in order to enable the Company to resume the definitive feasibility study.
- Market Cap: $44,152,147
- Revenues (LTM): $0
- Cash and Short Term Investment (LFQ): $54,561,000
- Total Debt (LFQ): $0
