Diggin’ Deep Resources Ltd.

Diggin’ Deep Resources Ltd. (DDR) is a mining company with a twist, specializing in the extraction of rare earth metals like neodymium, dysprosium, and lanthanum—materials crucial for cutting-edge technology like smartphones, wind turbines, and electric vehicle motors. Founded in 2005, the company quickly became a key player in the race for these high-demand metals, which are essential for powering the future.

DDR’s property, plant, and equipment, worth over $6.6 million, includes advanced mining and processing machinery. However, much of this equipment is aging, reflected by $975,600 in accumulated depreciation. The company’s stock, valued at $585,300, consists mainly of processed rare earth metals awaiting export to tech manufacturers across the globe.

With $2.58 million in share capital, DDR’s ownership structure allows it to remain agile, attracting investment while staying focused on its core mission. However, the company’s trade creditors of $508,200 show that it relies heavily on suppliers for materials and services to maintain its operations.

Despite a hefty debt load, including $2.04 million in long-term borrowings, DDR manages to stay afloat with $720,500 in cash, keeping operations smooth while it continues to dig deep into the earth for the metals that power tomorrow’s technology.

Below is a breakdown of  the key financial metrics for Diggin Deep Resources in 2024.