Kaymus Resources Inc. Audited Year End Results. All information can be found on SEDAR
Symbol: KYS.H
Price: $0.05
Common Shares: 23,153,285
Market Cap: $1.2 million
Insider/Management Holdings: 10,369,595 or 44.8%
The Kaymus website is currently down, but management can be reached at - info@kaymus.ca or by phone: 403-262-9177
Audited Financial Results (Ending April 30, 2021)
ASSETS
Cash: $38,194
Investments: $787,213
Royalty Income Receivable: $9,210
Goods & Services Tax Receivable: $3,951
Prepaid Expenses: $833
Deposit: $10,000
Property & Equipment: $116
Total Assets: $849,517
LIABILITIES
Trade & Payables: $24,623
Total Liabilities: $24,623
2021 Performance
Royalty Income: $29,480
Investment Gain: $427,097
Total Operating Expenses: $39,079
Net Income: $417,498 or $0.018c EPS
Conclusion: Not only does Kaymus Resources have a small float and spotless balance sheet, the company is growing through it’s royalties and investments, while keeping G&A expenses at a minimum. Insiders own almost half of the stock as well. This combined gives me confidence that there’s a plan for 2022.
MD&A Highlights
OUTLOOK
The Company plans to accumulate prospective land in the WCSB and will execute a drilling program when capital markets allow for raising equity.
ASSETS
The Company holds a 100% working interest in two proposed oil locations producing out of the Cardium and Viking formations. The Sylvan Lake, Alberta property is located near the town of Sylvan Lake, Alberta in townships 36 and 39, Ranges 1 and 3 W5M. Kaymus currently has no wells drilled in the Sylvan Lake Area.
The Company also holds overriding royalty interests ranging from 10% to 13% on five sections of land, on which are currently five producing wells which the Company acquired on January 15, 2019.