Mustang Minerals Limited

Mustang Minerals Limited

MMX.V
Mustang Minerals LimitedCA flagToronto Stock Exchange Ventures
0.06
CAD
+0.01
- -
4.43MMarket Cap
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
- -
0.01
0.01
- -
- -
- -
- -
- -
- -
- -
- -
- -
Basic EPS, GAAP
-0.05
-0.01
-0.05
0.07
-0.02
-0.02
-0.01
-0.01
-0.31
0.01
-0.01
-0.01
Free Cash Flow per Basic Share
-0.01
-0.08
-0.02
-0.01
-0.02
-0.02
-0.03
- -
- -
- -
-0.01
-0.01
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
0.25
0.29
0.3
0.37
0.36
0.34
0.33
0.33
0.02
0.02
0.01
0.01
Tangible Book Value per Share
0.25
0.29
0.3
0.37
0.36
0.34
0.33
0.33
0.02
0.02
0.01
0.01
Basic Weighted Avg Shares
24
44
48
65
74
74
74
74
74
74
74
74
Sales/Revenue/Turnover
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
-532.98
-346.06
-718.56
- -
- -
- -
- -
- -
- -
- -
- -
- -
Depreciation Expense
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Net Income, GAAP
-1
- -
-2
4
-1
-1
-1
- -
-23
- -
-1
-1
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Profit Margin (%)
-1,381.21
-189.37
-690.36
- -
- -
- -
- -
- -
- -
- -
- -
- -
Working Capital
6
7
4
14
7
4
2
1
1
2
1
1
LT Debt
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Total Equity
11
13
14
27
27
25
25
24
1
2
1
1
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)
- -
-3.99
-16.12
20.36
-4.9
-5.22
-3.94
-1.77
-182.49
33.88
-51.9
-54.28

Capital Structure

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
74
74
74
Market Capitalization
4
6
6

Working Capital

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
1
1
2
Cash, Cash Equivalents & STI
1
1
2
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
1
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
1.18%
-19.72%
-41.21%
Free Cash Flow
155.04%
35.15%
184.65%
Net Income, GAAP
471.57%
966.61%
-242.68%
Sales/Revenue/Turnover
- -
- -
- -
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.01
2025
- -
- -
- -
- -
-0.01
2026
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

CEO
Morgan James Poliquin
Sector
Basic Materials
Industry
Other Precious Metals
Address
1333 Johnston Street Vancouver BC Canada V6H 3R9
IPO Date
Sep 1, 2016
Business
Mustang Minerals Limited is a Canada-based mineral exploration company engaged in the acquisition, exploration and evaluation of copper-gold porphyry and high-sulphidation gold projects in Nevada, USA, focusing on early-stage discovery opportunities through geophysical surveys, geological mapping, sampling and planned drill programs. Founded in 2018 and headquartered in Vancouver, British Columbia, the company operates through a portfolio of optioned exploration properties in Nevada, including the Pilot, Rough and Ready, and Confusion Hills projects, and markets its securities on the TSX Venture Exchange under the symbol MMX and on the OTCQB as MMXLF. Mustang’s core activities center on advancing these properties toward drill targeting and initial drilling, while it also periodically evaluates and rationalizes its project portfolio. In 2026, the company completed the sale of its El Cobre copper-gold porphyry project in Mexico for cash consideration of US$1.5 million, marking a significant portfolio divestiture and strategic shift toward its Nevada assets. Earlier in 2026, Mustang changed its name from Azucar Minerals Ltd. to Mustang Minerals Limited and rebranded its trading symbols, following approval of the name change and related corporate actions. In late 2025 and 2026, Mustang obtained TSXV approval for an option to acquire a 60% interest in three Nevada copper and gold exploration properties, commenced exploration and logistical work on those projects, expanded a large induced-polarization geophysical anomaly at the Pilot project, and mobilized geophysical crews at Confusion Hills to support first-pass drilling plans. Mustang is led by a small exploration team and focuses on Western U.S. copper-gold and gold targets, with its corporate history tied to the 2018 plan of arrangement that created the company from Almadex Minerals Limited.