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Spartan Metals Corp. engages in developing critical minerals projects in the Western United States. The company explores in tungsten, rubidium, antimony, indium, bismuth, and arsenic deposits, as well as precious and base metals. Its flagship project is the Eagle Project located in eastern Nevada. The company was formerly known as Midasco Capital Corp. and changed its name to Spartan Metals Corp. in August 2025. Spartan Metals Corp. was incorporated in 1991 and is headquartered in Vancouver, Canada.
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
Spartan Metals Corp. is a metals exploration company listed on the TSX Venture Exchange (ticker W.V) with limited public disclosure. Long-term growth may depend on successful drilling, identification of economic mineral resources and favorable metal prices, which could support project development. Investors may view the stock as exposure to early-stage exploration upside if management delivers positive technical results.
Key risks are exploration failure and resource uncertainty, frequent financing needs and dilution, commodity-price volatility, permitting and regulatory delays, and scarce public information on assets and management.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly |
| Date | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | -0.05M | -0.06M | -0.05M | -0.07M |
| Net income | -0.05M | -0.06M | -0.05M | -0.07M |
| Selling general administrative | 0.03M | 0.04M | 0.04M | 0.04M |
| Operating income | -0.05M | -0.06M | -0.05M | -0.06M |
| Total revenue | 0.00M | 0.00M | 0.00M | 0.00M |
| Total operating expenses | 0.05M | 0.06M | 0.05M | 0.06M |
| Total other income expense net | - | - | - | -0.02M |
| Net income from continuing ops | -0.05M | -0.06M | -0.05M | -0.07M |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly |
| Date | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 0.03M | 0.08M | 0.14M | 0.18M |
| Total liab | 0.01M | 0.01M | 0.01M | 0.01M |
| Total stockholder equity | 0.02M | 0.07M | 0.13M | 0.18M |
| Capital stock | 14.37M | 14.37M | 14.37M | 14.37M |
| Retained earnings | -16.19M | -16.14M | -16.08M | -16.03M |
| Cash | 0.03M | 0.08M | 0.14M | 0.18M |
| Total current liabilities | 0.01M | 0.01M | 0.01M | 0.01M |
| Total current assets | 0.03M | 0.08M | 0.14M | 0.18M |
| Accounts payable | 0.01M | 0.01M | 0.01M | 0.01M |
| Non current assets total | 0.00M | 0.00M | 0.00M | 0.00M |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly |
| Date | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total cash from financing activities | - | - | 0.00M | 0.23M |
| Net income | -0.05M | -0.06M | -0.05M | -0.07M |
| Change in cash | -0.05M | -0.06M | -0.05M | 0.16M |
| Begin period cash flow | 0.08M | 0.14M | 0.18M | 0.02M |
| End period cash flow | 0.03M | 0.08M | 0.14M | 0.18M |
| Total cash from operating activities | -0.05M | -0.06M | -0.05M | -0.07M |
| Issuance of capital stock | - | - | 0.00M | 0.23M |
| Capital expenditures | 0.00M | 0.00M | 0.00M | 0.00M |
| Change in working capital | -0.00M | 0.00M | 0.00M | -0.01M |
| Free cash flow | -0.05M | -0.06M | -0.05M | -0.07M |
Sector: Basic Materials Industry: Other Industrial Metals & Mining
|
Stock Name
|
Change
(CAD) |
Price
(CAD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| W Spartan Metals Corp. |
0.01 3.85% |
0.27 | - | - | 10.94 | 6.30 | 20.31 | -51.71 |
| SGML Sigma Lithium Resources Corp |
0.10 1.28% |
7.91 | - | 23.09 | 29.72 | 42.12 | 23.03 | 32.66 |
| AFM Alphamin Res |
0.03 2.00% |
1.27 | 8.44 | 9.43 | 2.78 | 3.33 | 2.13 | 3.85 |
| SLI Standard Lithium Ltd |
0.11 5.76% |
2.02 | - | - | 79.52 | 2.40 | 83.96 | 5.29 |
| FWZ Fireweed Zinc Ltd |
0.03 1.25% |
2.43 | - | 1250.00 | - | 26.07 | - | -7.01 |
Spartan Metals Corp. engages in developing critical minerals projects in the Western United States. The company explores in tungsten, rubidium, antimony, indium, bismuth, and arsenic deposits, as well as precious and base metals. Its flagship project is the Eagle Project located in eastern Nevada. The company was formerly known as Midasco Capital Corp. and changed its name to Spartan Metals Corp. in August 2025. Spartan Metals Corp. was incorporated in 1991 and is headquartered in Vancouver, Canada.
228 - 1122 Mainland Street, Vancouver, BC, Canada, V6B 5L1
| Name | Title | Year Born |
|---|---|---|
| Mr. Brett Marsh | President & CEO | NA |
| Ms. Terese J. Gieselman | CFO & Corporate Secretary | 1963 |
| Mr. Brett R. Marsh CPG, M.B.A., M.Sc. | President, CEO & Director | NA |
| Ms. Terese Joanne Gieselman | CFO & Corporate Secretary | 1963 |
| Ms. Rebecca Ball | Vice President of Exploration | NA |
| Ms. Rebecca Ball B.Sc. | Vice President of Exploration | NA |
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