Midnight Sun Mining Corp. (MMA) Financings
TSXV: MMA · Copper · Exploration stage
- Market cap$89.9M
- Share price$0.412
- 52-week range$0.400 – $1.78
- Shares outstanding217,984,599
- ExchangeTSXV
- Websitewww.midnightsunmining.com
Midnight Sun is rapidly advancing the Solwezi Copper Project, with a focus on our flagship Dumbwa copper deposit. The Project is located near the town of Solwezi in the heart of the Zambia-Congo Copperbelt, the world's second-largest copper-producing region. This prolific mining district is renowned for hosting multiple major copper deposits, and benefits from excellent infrastructure, an established mining workforce, and a long history of successful production. The Solwezi Copper Project is surrounded by producing copper mines, including the geologically similar Lumwana mine just west of our project and First Quantum's Kansanshi mine - Africa's largest integrated metallurgical processing facility, approximately six kilometres east of the company's property boundary. This highly favourable location highlights the district-scale potential of Midnight Sun's land package.
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Midnight Sun Mining Corp. financial statements
Key figures read from 40 of 40 financial statement filings, Nov 28, 2016 to Aug 20, 2026. Each column is the period as the company first filed it.
Balance sheet: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Jan 2022 | |
|---|---|---|---|---|---|
| Cash and equivalents | C$30,992,806 | C$5,310,552 | C$23,883 | C$40,483 | C$2,564,905 |
| Short-term investments | C$0 | C$2,504,555 | — | — | — |
| Total current assets | C$31,531,751* | C$8,041,105* | C$104,673* | C$191,327* | C$2,636,334* |
| Exploration and evaluation assets | C$12,957,223 | C$12,957,223 | C$12,957,223 | C$9,961,348 | C$12,957,223 |
| Property, plant and equipment | C$407,058 | — | — | — | — |
| Total assets | C$45,596,032 | C$21,992,049 | C$13,958,231 | C$10,694,764 | C$16,160,818 |
| Debt | — | C$0 | C$163,000 | C$40,000 | C$40,000 |
| Total liabilities | C$678,983 | C$456,490 | C$731,144 | C$518,661 | C$230,011 |
| Shareholders' equity | C$44,917,049 | C$21,535,559 | C$13,227,087 | C$10,176,103 | C$15,930,807 |
* Calculated from the statement's own lines: the company did not print this total with a label.
Income statement: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2025 | FY Dec 2024 | FY Dec 2023 | FY Dec 2022 | FY Dec 2021 | |
|---|---|---|---|---|---|
| Exploration and evaluation expense | C$9,460,027 | C$723,014 | C$279,367 | C$1,650,934 | — |
| General and administrative | C$166,147 | C$184,434 | C$134,315 | C$159,497 | C$164,936 |
| Share-based compensation | C$1,587,150 | C$847,636 | C$525,725 | C$416,051 | C$81,601 |
| Impairments and write-downs | — | — | — | — | C$0 |
| Net income (loss) | (C$14,230,444) | (C$3,348,941) | (C$1,537,206) | (C$3,179,880) | (C$1,902,114) |
Cash flow statement: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2025 | FY Dec 2024 | FY Dec 2023 | FY Dec 2022 | FY Dec 2021 | |
|---|---|---|---|---|---|
| Operating cash flow | (C$12,621,821)* | (C$2,904,037)* | (C$1,622,776)* | (C$2,237,244)* | (C$869,152)* |
| Investing cash flow | C$2,374,736* | (C$2,369,672)* | C$470,552* | (C$263,885)* | (C$133,136)* |
| Financing cash flow | C$35,929,339* | C$10,560,378* | C$1,135,624* | (C$23,293)* | C$2,505,229* |
| Exploration spending (capitalized) | — | — | — | — | (C$139,741) |
| Proceeds from share issues | C$28,337,654 | C$9,519,626 | C$873,340 | C$0 | C$1,888,029 |
| Change in cash | C$25,682,254 | C$5,286,669 | (C$16,600) | (C$2,524,422) | C$1,502,941 |
| Cash at end of period | C$30,992,806 | C$5,310,552 | C$23,883 | C$40,483 | C$2,564,905 |
* Calculated from the statement's own lines: the company did not print this total with a label.
No financings are on record for Midnight Sun Mining Corp. yet.