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Euromax Resources Ltd. engages in the exploration and development of mineral right interests in Macedonia. It primarily explores for copper and gold deposits. The company's flagship project is the 100% owned Ilovica-Shtuka gold-copper project located in Macedonia. The company was formerly known as Omax Resources Ltd. and changed its name to Euromax Resources Ltd. in 2004. Euromax Resources Ltd. was incorporated in 1990 and is based in Skopje, the Republic of North Macedonia.
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
Euromax Resources Ltd. is a Vancouver-listed mineral exploration and development company focused on advancing a gold-copper-silver project in North Macedonia. Long-term growth drivers include progression toward production, exploration and resource expansion potential, and sensitivity to gold and copper prices, which could make the company appealing if the asset is successfully developed.
Material risks include project execution and financing needs, permitting and political/regulatory uncertainty in North Macedonia, commodity price volatility and potential shareholder dilution from additional capital raises.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
| Income before tax | -4.41M | -7.33M | -3.56M | -7.92M | -6.35M |
| Net income | -4.41M | -7.33M | -3.56M | -7.92M | -6.35M |
| Selling general administrative | 3.27M | 1.31M | 0.83M | 3.16M | 1.88M |
| Gross profit | -0.05M | -0.05M | -0.04M | -0.04M | -0.08M |
| Reconciled depreciation | 0.05M | 0.05M | 0.04M | 0.04M | 0.08M |
| Operating income | -3.62M | -1.63M | -1.42M | -3.30M | -2.43M |
| Interest expense | 3.73M | 3.50M | 3.25M | 3.05M | 2.76M |
| Tax provision | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Interest income | - | - | - | - | 0.00M |
| Net interest income | -3.73M | -3.50M | -3.25M | -3.05M | -2.76M |
| Total revenue | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Total operating expenses | 3.62M | 1.63M | 1.42M | 3.30M | 2.43M |
| Cost of revenue | 0.05M | 0.05M | 0.04M | 0.04M | 0.08M |
| Total other income expense net | 2.94M | -2.21M | 1.11M | -1.58M | -1.16M |
| Net income from continuing ops | -4.41M | -7.33M | -3.56M | -7.92M | -6.35M |
| Breakdown | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
| Total assets | 44.05M | 40.41M | 39.02M | 37.86M | 38.16M |
| Other current assets | 0.05M | 0.05M | 0.04M | 0.09M | 0.06M |
| Total liab | 50.77M | 48.05M | 44.27M | 46.80M | 40.21M |
| Total stockholder equity | -6.72M | -7.63M | -5.26M | -8.93M | -2.04M |
| Capital stock | 86.79M | 84.44M | 82.12M | 78.90M | 78.80M |
| Retained earnings | -118.53M | -115.55M | -110.39M | -108.07M | -101.36M |
| Cash | 1.68M | 1.00M | 0.62M | 0.02M | 0.34M |
| Total current liabilities | 50.67M | 47.96M | 44.19M | 46.71M | 40.12M |
| Net debt | 31.08M | 29.78M | 27.05M | 27.79M | 23.28M |
| Short long term debt | 32.75M | 30.79M | 27.67M | 27.81M | 23.62M |
| Total current assets | 1.79M | 1.11M | 0.71M | 0.18M | 0.46M |
| Accounts payable | 0.66M | 0.26M | 0.27M | 0.86M | 0.43M |
| Non current assets total | 42.26M | 39.30M | 38.30M | 37.68M | 37.70M |
| Capital lease obligations | 0.16M | 0.15M | 0.14M | 0.14M | 0.14M |
| Breakdown | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
| Investments | - | - | -0.09M | -0.08M | 0.01M |
| Net borrowings | 1.72M | -0.05M | - | - | - |
| Total cash from financing activities | 3.03M | 2.56M | 3.65M | 1.36M | 0.89M |
| Net income | -4.41M | -7.33M | -3.56M | -7.92M | -6.35M |
| Change in cash | 0.73M | 0.41M | 0.61M | -0.30M | -2.25M |
| Begin period cash flow | 1.00M | 0.62M | 0.02M | 0.34M | 2.79M |
| End period cash flow | 1.68M | 1.00M | 0.62M | 0.02M | 0.34M |
| Total cash from operating activities | -2.18M | -2.06M | -2.96M | -1.58M | -3.15M |
| Issuance of capital stock | 1.59M | 3.07M | 4.01M | 0.00M | 1.20M |
| Depreciation | 0.05M | 0.05M | 0.04M | 0.04M | 0.08M |
| Dividends paid | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Capital expenditures | 0.12M | 0.09M | 0.09M | 0.08M | 0.00M |
| Change in working capital | 0.24M | -0.04M | -0.42M | 0.37M | -0.01M |
| Stock based compensation | 1.21M | -0.62M | -1.25M | 1.14M | -0.84M |
| Other non cash items | 3.73M | 3.60M | 3.21M | 3.21M | 2.83M |
| Free cash flow | -2.30M | -2.15M | -3.04M | -1.66M | -3.15M |
Sector: Basic Materials Industry: Other Industrial Metals & Mining
|
Stock Name
|
Change
(CAD) |
Price
(CAD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| EOX Euromax Resources Ltd. |
- -% |
0.06 | - | - | 7.23 | 17.15 | 10.15 | -13.02 |
| SGML Sigma Lithium Resources Corp |
-2.45 25.79% |
7.05 | - | 23.09 | 29.72 | 42.12 | 23.03 | 32.66 |
| AFM Alphamin Res |
0.01 0.80% |
1.26 | 8.44 | 9.43 | 2.78 | 3.33 | 2.13 | 3.85 |
| SLI Standard Lithium Ltd |
-0.06 2.96% |
1.97 | - | - | 79.52 | 2.40 | 83.96 | 5.29 |
| FWZ Fireweed Zinc Ltd |
-0.01 0.44% |
2.28 | - | 1250.00 | - | 26.07 | - | -7.01 |
Euromax Resources Ltd. engages in the exploration and development of mineral right interests in Macedonia. It primarily explores for copper and gold deposits. The company's flagship project is the 100% owned Ilovica-Shtuka gold-copper project located in Macedonia. The company was formerly known as Omax Resources Ltd. and changed its name to Euromax Resources Ltd. in 2004. Euromax Resources Ltd. was incorporated in 1990 and is based in Skopje, the Republic of North Macedonia.
Blvd. Partizanski odredi No. 42, 4, Skopje, Macedonia, 1000
389 23 220998
| Name | Title | Year Born |
|---|---|---|
| Mr. Timothy Morgan-Wynne | Executive Chairman & CEO | NA |
| Mr. Nikola Gulev | Chief Financial Officer | NA |
| Mr. Ali Vezvaei | President & Non-Executive Director | 1982 |
| Ms. Martina Kostovska | Communications Manager | NA |
| Mr. Timothy Morgan-Wynne | Chief Executive Officer | NA |
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