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Marimaca's multi-year financials show a pre-revenue exploration-and-development model, with recurring operating losses and cash outflows as project work advances. Equity issuance, rather than material borrowing, has funded this activity, while capitalized exploration spending builds the project asset base.
The June report retains the pre-revenue, loss-making pattern, while a larger equity-funded liquidity base and heavier project investment represent a development in scale, not a change in cash-generation economics.
Whether committed project financing is secured before a positive final investment decision requires construction-scale spending.
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| 4.3m | 2.8m | 14.5m | 9.9m | 13.9m | 26.8m | 14.6m | 16.7m | 22.6m | 66.8m | |
| — | — | — | — | — | — | — | — | 22.6m | 66.8m | |
| 4.3m | 2.8m | 14.5m | 9.9m | 13.9m | 26.8m | 14.6m | 16.7m | — | — | |
| 900k | 2.6m | 0 | 580k | 450k | 450k | 4.8m | 7m | 2.3m | 0 | |
| 150k | 140k | 0 | 580k | 450k | 450k | 4.8m | 7m | 2.3m | 0 | |
| 750k | 2.5m | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 1.6m | 2m | 180k | 190k | 0 | — | — | — | — | — | |
| 390k | 710k | 430k | — | — | 11.4m | 0 | — | 512k | 610k | |
| 7.1m | 8.1m | 15.1m | 10.6m | 14.3m | 38.6m | 19.5m | 23.7m | 25.5m | 67.4m | |
| 21.8m | 34.7m | 45.5m | 45.3m | 55.7m | 54.2m | 61.4m | 71.7m | 84.5m | 94.1m | |
| — | — | — | 45.3m | 55.7m | 54.2m | — | — | — | 94.1m | |
| — | — | — | (350k) | (330k) | (382k) | — | — | — | (1m) | |
| — | — | 3.1m | 2.1m | 0 | — | 3.9m | 237k | 2.4m | 17m | |
| 28.9m | 42.8m | 63.7m | 58.1m | 70m | 92.8m | 84.8m | 95.6m | 112.4m | 178.5m | |
| 4.1m | 10.8m | 3.8m | 1.1m | 1.2m | 397k | 179k | 423k | 1.6m | 1.8m | |
| — | — | — | 710k | 970k | 1m | 382k | 653k | 1.2m | 2.9m | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 870k | 3.4m | 19.7m | 18.5m | 3m | 3m | 0 | 85k | 45k | 146k | |
| — | 0 | 930k | 960k | 0 | 5.1m | 0 | — | — | — | |
| 4.9m | 14.2m | 24.4m | 21.2m | 5.2m | 9.5m | 561k | 1.2m | 2.8m | 4.8m | |
| 430k | 250k | 460k | 0 | 2.7m | 0 | 0 | 43k | 0 | 788k | |
| 780k | (4.8m) | 0 | — | — | — | — | — | — | — | |
| 1.3m | 6.6m | 5.8m | 5.3m | 5m | 0 | — | — | — | — | |
| 7.4m | 16.3m | 30.7m | 26.5m | 12.8m | 9.5m | 561k | 1.2m | 2.8m | 5.6m | |
| 74.5m | 92.6m | 129.8m | 142.7m | 161.9m | 192m | 192.8m | 206.3m | 230.9m | 318.1m | |
| (60.7m) | (74.3m) | (105.7m) | (120.3m) | (118.2m) | (137m) | (139.2m) | (146.3m) | (160.1m) | (186.3m) | |
| 7.2m | 7.8m | 7.9m | 8.2m | 12.8m | 27.4m | 30.6m | 34.3m | 38.3m | 41.2m | |
| 570k | 440k | 930k | 930k | 720k | 936k | 112k | 65k | 418k | 74k | |
| 21.5m | 26.5m | 33m | 31.5m | 57.2m | 83.3m | 84.3m | 94.4m | 109.6m | 172.9m | |
| 28.9m | 42.8m | 63.7m | 58.1m | 70m | 92.8m | 84.8m | 95.6m | 112.4m | 178.5m | |
| 19.3m | 26.1m | 58.2m | 64.4m | 73.6m | 88m | 88.2m | 93.2m | 101m | 119.4m |
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Stock intrinsic value is the real worth of a company's stock, based on its financial health and performance.
Instead of looking at the stock's current market price, which can change due to people's opinions and emotions, intrinsic value helps us understand if a stock is truly a good deal or not.
By focusing on the company's actual financial strength, like its earnings and debts, we can make better decisions about which stocks to buy and when.
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