New Risk • May 05
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (34% average weekly change). Shareholders have been substantially diluted in the past year (71% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$8.01m market cap, or US$5.88m). Minor Risk Large one-off items impacting financial results. 공지 • Jan 23
Hispania Resources Inc. Announces Confirmation Drilling Program And Surface Rehabilitation At Maria Tere Mine Site Hispania Resources Inc. reported to shareholders that management and members of its local mining team in Spain completed a visit at the Lumbrales site in Salamanca, and particularly the Maria Tere past producing mine. The intent of this visit was to meet with local stakeholders; review existing infrastructure at site; as well as plan out the 2026 work plans for Lumbrales. As a result of this activity, the company has laid out a confirmation drilling program at Maria Tere and will simultaneously engage in surface rehabilitation of on-site infrastructure and facilities. The Company is currently reviewing contracts with contractors and service providers and intends to begin activities at site within the next few weeks. During the period at site, the company's geological personnel carried out sampling and reviewed all data related to the geological resource. For the first time, geological investigation related to two artisanal workings situated South of the Maria Tere mine site was carried out. These workings will be further evaluated during the planned drilling campaign at the Maria Tere site. As a form of reference, the Maria Tere Mine was last put into production by the Spanish company Minera del Duero S.A. until 1986. During this period the capacity of the mine and plant was 400 tonnes per day (t/d) for a 10-hour day. On termination of operations, the mine had a remaining resource of 2.5 million tonnes with a grade of 0.25% Tin. At that time, there was an additional Exploration target of 3 million tonnes. On closure the infrastructure at site consisted of two shafts to approximately 150 meters and 2,272 meters of 4 by 4 metre galleries with an inclined shaft of 651 meters all to a depth of approximately 200 metres. Recent Insider Transactions • Nov 07
Secretary & Independent Director recently bought CA$70k worth of stock On the 1st of November, Rahim Allani bought around 3m shares on-market at roughly CA$0.025 per share. This transaction amounted to 65% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$71k more in shares than they have sold in the last 12 months. New Risk • Oct 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 34% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (45% average weekly change). Negative equity (-CA$2.2m). Shareholders have been substantially diluted in the past year (34% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$9.42m market cap, or US$6.71m). 공지 • Oct 04
Hispania Resources Inc. announced that it has received CAD 0.5 million in funding On October 3, 2025, the Hispania Resources Inc closed the transaction by issuing 20,000,000 units at an issue price of CAD 0.025 for the proceeds of CAD 500,000. No commission or finders fees were payable in connection with the Offering. Rahim Allani subscribed, directly or indirectly, for 1,800,000 Units. Prior to the Offering, Mr. Allani owned, or had control or direction over 4,282,000 Common Shares,representing approximately 7.75% of issued and outstanding Common Shares on a partially diluted basis. After the closing of the Offering, Mr. Allani owns, or has control over 6,082,000 Common Shares and 1,800,000 Warrants representing approximately 8% of the issued and outstanding Common Shares on a partially diluted basis. 공지 • Sep 12
Hispania Resources Inc. announced that it expects to receive CAD 1 million in funding Hispania Resources Inc. announced a non-brokered private placement to issue 40,000,000 Units at an issue price of CAD 0.025 per unit for gross proceeds of CAD 1,000,000 on September 11, 2025. Each Unit will be priced at CAD 0.025 per Unit, consisting of one common share and one Common Share purchase warrant. Each Warrant entitling the holder to purchase one further Common Share at a price of CAD 0.05 per Warrant Share for a period of 36-months following the Offering. The Company may pay cash finder's fees in connection with the Offering to certain qualified arm's-length finders of up to 6% of the gross proceeds raised under the Offering. Insiders of the Company may subscribe in the private placement for up to 9.9% of the offering for a total of 3,960,000 Units for aggregate gross proceeds of CAD 99,000. Closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all required regulatory approvals including the approval of the Toronto Stock Exchange Venture (the "TSXV"). The securities issued under the Offering will be subject to a statutory hold period of four months and one day following the date of issuance. New Risk • Aug 31
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$12k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$12k free cash flow). Shares are highly illiquid. Negative equity (-CA$2.2m). Revenue is less than US$1m. Market cap is less than US$10m (CA$1.46m market cap, or US$1.07m). Board Change • Aug 25
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. CEO, President & Chairman Norm Brewster was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Dec 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$107k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$107k free cash flow). Negative equity (-CA$1.5m). Revenue is less than US$1m. Market cap is less than US$10m (CA$5.56m market cap, or US$3.97m). 공지 • Jun 24
Hispania Resources Inc., Annual General Meeting, Aug 29, 2024 Hispania Resources Inc., Annual General Meeting, Aug 29, 2024. New Risk • May 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$871k free cash flow). Negative equity (-CA$644k). Revenue is less than US$1m. Market cap is less than US$10m (CA$6.73m market cap, or US$4.92m). Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Share price has been volatile over the past 3 months (15% average weekly change). Board Change • Jan 06
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Director Modesto Soto is the most experienced director on the board, commencing their role in 2022. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. 공지 • Nov 24
Hispania Resources Inc. (TSXV:ESPN) won the bid to acquire Otero Property in Castille y Leon, Spain from Sociedad de Investigación y Explotación Minera de Castilla y León for CAD 1 million. Hispania Resources Inc. (TSXV:ESPN) won the bid to acquire Otero Property in Castille y Leon, Spain from Sociedad de Investigación y Explotación Minera de Castilla y León for CAD 1 million on November 10, 2023.Hispania Resources Inc. (TSXV:ESPN) completed the acquiition of Otero Property in Castille y Leon, Spain from Sociedad de Investigación y Explotación Minera de Castilla y León on November 10, 2023. 공지 • Jan 20
Hispania Resources Announces the Preparation of Its Three-Year Exploration Program At Las Herrerias, on the Puebla De La Reina Property in Spain Hispania Resources Inc. updated its plans for the coming year and prepares for its exploration program at the Puebla de la Reina property, Las Herrerias permit, for the next three years. This program consists of surface exploration, geophysics, surface sampling and diamond drilling across the property, which is located in a mining friendly jurisdiction in Southern Spain. During the second half of the year, as travel opened up, Hispania's team met with regional government officials as well as the local Mayor in PBR to update on the company's plans going forward. The Mayor was appreciative and supportive of the Company's work during the COVID-19 pandemic, and was looking forward to more work in the area going forward. 공지 • Dec 01
Miguel Cabal Step Down from the Board of Merida Minerals Holdings Inc Merida Minerals Holdings Inc. announced Miguel Cabal voluntarily stepped down as a director and did not stand for re-election. Board Change • Nov 16
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Director Modesto Soto is the most experienced director on the board, commencing their role in 2022. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Oct 11
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Director Modesto Soto is the most experienced director on the board, commencing their role in 2022. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Jun 30
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Director Modesto Soto is the most experienced director on the board, commencing their role in 2022. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model.