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SV Rating: Fair Spec Value - Favorite - as of December 30, 2022
Corporate Change History
#Old for New
Last Price
Prior Name
Subsequent Name
Details
Jun 29, 2007
Name Change
1:1
$0.25
Nadoli Capital Inc (NAD-V)
Komet Manufacturers Inc (AQD-V)
Dec 19, 2013
Name Change
1:1
$0.05
Komet Manufacturers Inc (AQD-V)
Komet Resources Inc (KMT-V)
Oct 6, 2020
Name Change
1:1
$0.20
Komet Resources Inc (KMT-V)
Brunswick Exploration Inc (BRW-V)
Recommendation History
Edition
Date
Price
Recommendation
Gain
SVF2023
12/30/2022
$0.48
Fair Spec Value Favorite
0%
Ranking within Company's Price Range based Group
All TSX-TSXV KRO as of Oct 16, 2023
Group Median
Company
Percentile
Score
Price Range:
$0.76-$1.00
Issued:
84,656,938
187,951,301
18.4%
42.1%
Price Group Total:
38
Working Cap:
$9,805,944
$13,262,978
65.8%
TSXV KRO as of Oct 16, 2023
Group Median
Company
Percentile
Score
Price Range:
$0.76-$1.00
Issued:
81,577,688
187,951,301
12.5%
42.2%
Price Group Total:
32
Working Cap:
$5,581,406
$13,262,978
71.9%
Group figures exclude delisted and suspended companies. The higher the company percentile the better, based on the assumptions that the lowest issued shares and highest working capital are best. The score is the average of the percentiles. A percentile is that percentage of a group that a member ranks higher than. Note that issued and WC reflect latest financials.
Ranking Color Code:
Lower than 25%
25% to 50%
50% to 75%
Higher than 75%
Charts & Financing Activity
Most recent 43-101 resource estimate Prior resource estimate PEA PFS FS/BFS/DFS
Private Placement Key
less than $500,000
$1,000,000 - $2,000,000
$5,000,000 - $10,000,000
$20,000,000 - $50,000,000
$500,000 - $1,000,000
$2,000,000 - $5,000,000
$10,000,000 - $20,000,000
over $50,000,000
Private placement financing dates and value ranges are based on transactions reported by the TSXV Monthly Review.
Past Insiders and Reported Shareholders - Current Ownership Status unknown - positions may be pre-rollback
Related Party
Occupation
Related Since
Insider Ended
Director Ended
Capacity
Ownership
Roby Begin
1/1/2014
7/10/2018
7/10/2018
Director
956,100
Lucas W. Claessens
7/10/2018
9/6/2019
9/6/2019
CEO
0
Andre Gagne
1/1/2013
11/25/2019
11/25/2019
Director
2,953,086
Pierre Labrecque
9/15/2020
7/10/2015
CFO
75,000
Le Groupe Aquadis Inc
10/7/2013
9/15/2020
Insider
4,250,334
Michel Lebeuf
Lawyer
5/22/2014
7/11/2016
7/11/2016
Director
90,000
Francois Nadeau
9/15/2020
Insider
5,549,880
Gilles Nadeau
10/7/2013
9/15/2020
Insider
2,774,940
Guy Nadeau
10/7/2013
9/15/2020
Insider
2,774,940
Marc Nadeau
Broker
10/7/2013
9/15/2020
Insider
2,774,940
Leo Patry
7/11/2016
7/11/2016
Director
25,000
Marcel Robillard
Businessperson
7/10/2018
7/10/2018
VP Exploration
407,000
Mathias Thibieroz
7/28/2014
7/11/2016
7/11/2016
Director
0
Albert Wildgen
4/15/2016
9/15/2020
Advisory Board
0
Share positions of current insiders based on last AGM circular, ownership % based on current Issued. Share positions of past insiders and shareholders have not been adjusted for rollbacks or splits.
Active Index Memberships
Membership Start Date:
December 30, 2022
Start Price:
$0.48
KRO Favorites 2023: Features companies designated 2023 KRO Favorites, based on closing price December 30, 2022.
Membership Start Date:
August 1, 2023
Start Price:
$0.85
KRO James Bay Lithium Index: The KRO James Bay Lithium Index was created to track Lithium Mania 2.0 within the James Bay region of Quebec where several world class lithium pegmatite deposits have been established. Because pegmatites occur within a geological setting prospective for precious and base metals deposits, which have been the historical focus for exploration in the James Bay region while pegmatites were ignored due to the small market for lithium which was worth a mere $200 million in 2005, all companies with property have been included on the premise that any could make an important lithium pegmatite discovery even though not yet looking for such deposits. This also means that some truly horrible juniors are included and consequently index inclusion should not be treated as a judgement about the company. See the Lithium Resource Center a general list of lithium focused companies and lithium related resources.
A Spec Value Hunter table allows speculators to identify which projects offer poor, fair or good speculative value according to the rational speculation model. The speculative value depends on the project stage, the project's implied value as calculated by the company's fully diluted, stock price and net project interest, and the dream target deemed appropriate for the project. A dream target is what a project would be worth in discounted cash flow terms once in production.
Poor Speculative Value -
Fair Speculative Value -
Good Speculative Value -
Note: narrow arrows indicate IPV is outside the fair value channel but within 25% of the fair value limits
Color Key for Target Outcome Achievability Ranges in millions ranked from most to least achievable
below $25
Should be Private: Artisanal, Placer, Mom & Pop Shop
$25-$50
Tiny Scale: underground mine or quarry - not worth the bother
$50-$100
Small Scale: junior needs to self-develop
$100-$250
Buyout Target: by Lower Tier Producers
$250-$500
Buyout Target: by Mid-Tier Producers
$500-$1,000
Ideal Target for Junior: Buckhorn, Sleeper
$1,000-$2,000
Almost World Class: Ekati, Red Chris, Brucejack, Juanicipio, Stibnite
$2,000-$5,000
World Class: Eskay Creek, Hemlo, Hermosa-Taylor, Oyu Tolgoi, LaRonde, McArthur
$5,000-$10,000
Giants: Escondida, Sullivan, Carlin Trend, Kidd Creek, Orapa, Kamoa-Kakula
above $10,000
Off the Scale District: Wits 1.0, Araxa, Sudbury Basin, Bayan Obo
The target outcome range required for the current implied project value to represent fair speculative value is based on the upper and lower certainty limits associated with the project stage. The color coding is based on the target outcome using the mid-point of the certainty range.
Net Interest: 100% WI Vested: Yes Uncapped NSR/GOR: 0.00%
Ownership Terms: Agreement Jan 24, 2023 to acquire 100% of the Lac Escale claim from Globex Mining Enterprises for $500,000 and $1 million exploration over 3 years. Globex retains 3% NSR of which 1% can be bought for $1 million. Adjoins a larger block staked by Brunswick. 75% of 8 inlier claims being acquired as part of Plex deal with Ossko Development which rerauins a 2% carried interest.
Net Interest: 90% WI Vested: No Uncapped NSR/GOR: 0.00%
Ownership Terms: Agreement Nov 28, 2022 to option 90% from Osisko Devlopment Corp for 4 million shares over 2 years and $3 million exploration over 4 years. 500,000 shares issuable on approval, 1.5 million shares and $500,000 exploration due by Y1. Osisko is carried until mine construction. Brunswick has right of first refusal on Osisko's 10% interest.
Net Interest: 85% WI Vested: No Uncapped NSR/GOR: 0.00%
Ownership Terms: Formerly called Lothlorien. Initially part of a 50:50 strategic alliance with Altius Minerals formed Mar 30, 2017 to explore James Bay region. On August 16, 2018 Altius exchanged its 50% stake in 8 properties for 659,873 shares at $1.10 and a 1% NSR. On Nov 10, 2022 Midland optioned up to 85% of the "rare mineral" potential (ie lithium-cesium-tantalum) to Brunswick Exploration which can earn 50% by spending $1.5 million over 3 years of which $300,000 in Y1 is firm, paying $145,000 in 3 stages and issuing $355,000 in shares in 4 stages. On vesting Brunswick can increase to 85% by spending $2 million over 2 years and paying $200,000 in cash or shares at Brunswick's option. Midland retains a 15% carried interest on which Brunswick has a right of refusal.
Net Interest: 90% WI Vested: No Uncapped NSR/GOR: 0.00%
Ownership Terms: Agreement Dec 5, 2022 to option 90% from Osisko Development Corp for 8 million shares over 2 years and $6 million exploration over 4 years. 1,000,000 shares are due on closing, 3,000,000 at Y1 and 4,000,000 on Y2. $1 million exploration due by Y1, aggregate $2 million by Y2, $4M by Y3 and $6M by Y4. Osisko is carried to a production decision and BRW has a right of first refusal on its 10% stake.
Net Interest: 100% WI Vested: Yes Uncapped NSR/GOR: 0.00%
Ownership Terms: Jan 17, 2023 announced map staking of 36 claims covering 124 mapped and interpreted pegmatites within an area bounded by Creighton, La Ronge and Southend.
Net Interest: 100% WI Vested: No Uncapped NSR/GOR: 0.00%
Ownership Terms: Oct 3, 2022 staked 26,318 ha in multiple claim groups plus 251 ha Lowther Pegmatite property optioned 100% from prospector for $735,000 and $1 million exploration over 4 years (vendor keeps 2% NSR of which half can be bought for $1 million), and 3,235 LowtherII Regional property for $300,000 over 2 years from Last Resort Resources Ltd which retains 2% NSR of which 1% can be bought for $1 million..
Net Interest: 100% WI Vested: No Uncapped NSR/GOR: 1.00%
Ownership Terms: Acquired Apr 19, 2022 by staking 300 claims 12 blocks. Also agrrement to acquire the BJB property 100% from Kintavar Expl for $1,020,000 and $1,200,000 exploration over 4 years. Payments will be a combination cash and stock with cash minimum 20% to maximum 80%. $250,000 is due on resource estimate and $750,000 on PEA completion. Kintavar retains 2% NSR of which half can be bought for $1 million.
Most recent 43-101 resource estimate 
Prior resource estimate 
PEA 
PFS 
FS/BFS/DFS
Flagship Play
Secondary Plays
Other Plays
