Business
Mundoro Reports 2024 Financial and Exploration Summary and 2025 Outlook
Vancouver, British Columbia--(Newsfile Corp. - April 29, 2025) - Mundoro Capital Inc. (TSXV: MUN...
About this update from Mundoro Capital Inc.
[{"type":"text","content":"Mundoro Reports 2024 Financial and Exploration Summary and 2025 OutlookVancouver, British Columbia--(Newsfile Corp. - April 29, 2025) - Mundoro Capital Inc. (TSXV: MUN) (OTCQB: MUNMF) (www.mundoro.com) (\"Mundoro\" or the \"Company\") announces the operating and financial results for the year ended December 31, 2024. The audited Financial Statements (FS), and Management's Discussion and Analysis (MD&A) for 2024 are filed on SEDAR+, and are available on Mundoro's website at www.mundoro.com under the heading \"Investors\". All amounts are expressed in Canadian dollars unless otherwise indicated.Mundoro's CEO, Teo Dechev, noted that fiscal year 2024 was a period of focused execution. Core activities involved continued exploration within partnered projects, assessment of new opportunities, and technical progression of available properties to facilitate third-party option discussions. Over a two-year perspective, the company's financial results illustrate a disciplined and sustainable business approach, allowing the reinvestment of the positive cash flow from 2023 into 2024 initiatives. In 2024, capital was allocated to advance targets across the property portfolio. The exploration conducted in 2024 has enhanced the attractiveness of the Company's properties, positioning them favorably for new partnerships. Discussions are ongoing with potential partners, indicating continued interest in the properties. 2024 Year End Financial SummaryCash Position and Working Capital: As of December 31, 2024, the Company held $6.32 million in cash and cash equivalent and held $1.96 million in working capital. The Company has no long-term debt. Fees Earned and Net Option Payments Received: Fees earned, including operator and option fees, were $1.11 million in fiscal year 2024. Exploration and Project Evaluation Expenditures: Total exploration and project evaluation expenditures conducted on the Company's properties were $6.91 million in fiscal year 2024. Of this amount, $6.01 million was recovered from option partners, resulting in net exploration costs to the Company of $0.90 million for the year. These net exploration costs are primarily attributable to the Company's internally funded Project Generative operations.Corporate Expenses: Corporate expenses in fiscal year 2024 were down 7.7% from the prior year to $1.26 million.2024 Exploration Summa...