Surface Metals Inc. (SUR) Financings
CSE: SUR · Gold, Lithium · Advanced Exploration stage
- Market cap$5.4M
- Share price$0.120
- 52-week range$0.100 – $0.395
- Shares outstanding45,359,245
- ExchangeCSE
- Properties7
- Websitesurfacemetals.com
Surface Metals Inc. (CSE: SUR | OTCQB: SURMF) is a North American mineral exploration company focused on advancing a diversified portfolio of gold and lithium projects in the state of Nevada, USA. The Company’s Cimarron Gold Project is located in Nye County, Nevada, in a historically productive gold district. Surface’s Clayton Valley Lithium Brine Project hosts an NI-43-101 compliant inferred resource of approximately 302,900 tonnes of lithium carbonate equivalent (LCE) adjacent to Albemarle’s Silver Peak Mine. Surface Metals is also advancing a lithium project in neighbouring Fish Lake Valley, Nevada.
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Surface Metals Inc. financial statements
Key figures read from 14 of 14 financial statement filings, Jan 25, 2023 to Aug 28, 2026. Each column is the period as the company first filed it.
Balance sheet: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 | |
|---|---|---|---|---|
| Cash and equivalents | C$255,431 | C$292,538 | C$9,816,956 | C$2,802,252 |
| Total current assets | C$352,100 | C$12,616,059 | C$9,985,379* | C$2,997,081* |
| Total current liabilities | C$296,849 | C$553,890 | — | — |
| Working capital | C$55,251 | C$12,062,169 | — | — |
| Exploration and evaluation assets | C$12,249,645 | C$11,858,801 | — | — |
| Property, plant and equipment | C$23,338 | C$487,229 | C$181,904 | C$0 |
| Total assets | C$12,833,914 | C$13,047,213 | C$14,169,664 | C$3,942,780 |
| Total liabilities | C$400,141 | C$691,554 | C$934,578 | C$250,257 |
| Shareholders' equity | C$12,433,773 | C$12,355,659 | C$13,235,086 | C$3,692,523 |
* Calculated from the statement's own lines: the company did not print this total with a label.
Income statement: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Sep 2024 | FY Sep 2023 | FY Sep 2022 | FY Sep 2021 | |
|---|---|---|---|---|
| General and administrative | C$385,799 | C$388,744 | C$332,508 | C$122,094 |
| Share-based compensation | — | C$0 | C$2,108,191 | C$822,744 |
| Impairments and write-downs | — | — | (C$253,528) | C$0 |
| Net income (loss) | (C$913,335) | (C$1,769,177) | (C$3,286,194) | (C$617,457) |
Cash flow statement: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Sep 2024 | FY Sep 2023 | FY Sep 2022 | FY Sep 2021 | |
|---|---|---|---|---|
| Operating cash flow | (C$650,820) | (C$1,722,307) | (C$1,955,955) | (C$590,911) |
| Investing cash flow | (C$251,644) | (C$8,197,838) | (C$1,710,427) | (C$299,198) |
| Financing cash flow | C$875,789 | C$432,029 | C$10,617,235 | C$3,689,454 |
| Exploration spending (capitalized) | (C$520,232) | (C$7,932,555) | (C$2,268,072) | (C$338,752) |
| Proceeds from share issues | C$977,749 | C$477,500 | C$10,617,235 | C$3,740,254 |
| Change in cash | (C$26,675) | (C$9,488,116) | C$6,950,853 | C$2,799,345 |
| Cash at end of period | C$255,431 | C$292,538 | C$9,816,956 | C$2,802,252 |
No financings are on record for Surface Metals Inc. yet.
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