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  5. MUN: Hi 5i Team - Could you provide a summary of the operations of Mundoro Capital as well as its balance sheet including cash on hand. [Mundoro Capital Inc.]
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Q: Hi 5i Team - Could you provide a summary of the operations of Mundoro Capital as well as its balance sheet including cash on hand. Does it hold hold any properties that are particularly interesting from an exploration point of view. Also what is the insider ownership and has there been any significant buying or selling in the past few months.
Thanks.
Asked by Rob on November 02, 2023
5i Research Answer:

MUN at $17M market cap needs to be considered exceptionally speculative. As of June 30 it had $6.3M cash no debt. It has no revenue, losses and minimal cash flow. It will need a lot more capital to develop its projects properly. That being said, it has partners, and under their agreements the partners are paying for a lot of expenses. On occasion, because of this, it actually gets into a positive cash flow situation.  It focuses on gold/copper projects in eastern Europe, and it does have a project in the USA. Insiders own 2% and have been net buyers in the past six months. Drilling/exploration continues but it is early days, and nothing particular stands out yet. We would estimate, even with drilling success, it is at least 10 years before a mine is even possible here.