Silver North Resources Ltd.

What they do

Silver North Resources Ltd. is engaged in the acquisition and exploration of mineral properties. All of its properties are at the exploration stage, and it has no commercially producing mines or sites. The company has not reported any revenue from operations since incorporation. It was formerly known as Alianza Minerals Ltd. and changed its name to Silver North Resources Ltd. on August 14, 2023.

Revenue drivers

• No revenue-generating segments — The company has no commercially producing mines and has not reported any revenue from operations since incorporation.

Recent performance

The company reported annual net losses, including $-997,369 in 2019, $-1.1M in 2020, $-939,124 in 2021, and $-2.1M in 2022. Operating cash flow was negative: $-770,628 in 2019, $-656,565 in 2020, $-1.3M in 2021, and $-435,882 in 2022. Diluted EPS was $-0.07 in 2016, $-0.04 in 2017, $-0.02 in 2018, $-0.02 in 2019, and $-0.01 in 2020. The latest balance sheet shows total assets of $4.8M as of 2020-09-30, shareholder equity of $7.0M as of 2022-09-30, and cash & equivalents of $352,530 as of 2019-09-30.

Strategy

The company's stated business is the acquisition and exploration of mineral properties. As an exploration-stage company, it focuses on advancing its properties through exploration. No specific investments or priorities beyond this are detailed in the provided excerpts. The company will remain an Emerging Growth Company for up to five years after the first sale of equity securities pursuant to an effective registration statement.

Risks

• No revenue or production — The company has no commercially producing mines and has not reported any revenue from operations since incorporation.
• Exploration-stage risks — There are no known proven reserves of minerals on Silver North's properties, and all properties are at the exploration stage.
• Negative cash flow — Operating cash flow has been consistently negative, including $-435,882 in 2022.
• History of losses — The company has reported annual net losses, including $-2.1M in 2022.

Outlook

The provided excerpts do not contain specific forward-looking guidance from management. The company remains focused on its exploration-stage activities. As an Emerging Growth Company, it is exempt from certain requirements, including auditor attestation of internal control over financial reporting. No timeline for potential production or revenue is stated.