Q: Hi 5i Team - Could you please provide an update on Mirasol Resources including cash on hand, debt, any interesting projects and insider ownership. Thanks.
5i Research Answer:
MRZ is down 52% over the last year. Current Cash on hand is $2.3M, while debt is $0.1M, making for a net cash balance of $2.2M. Insider ownership is >30% per the companies website. Back in March of this year, MRZ raised $3.0M in a private placement of up to 5 million units priced at 60c apiece. The Sobek project continues to be the company's flagship project. In May, MRZ has identified two new porphyry target areas within the Sobek project. It is a tiny junior miner with significant risk and is thinly traded so we caution a prospective investor.