Primary Hydrogen Corp
Primary Hydrogen Corp. engages in the acquisition, exploration, and development of natural hydrogen properties in Canada. The company was formerly known as Millbank Mining Corp. and changed its name to Primary Hydrogen Corp. in November 2024. Primary Hydrogen Corp. was incorporated in 2020 and is based in Calgary, Canada.
Primary Hydrogen Corp (HNATF) - Total Assets
Latest total assets as of August 2025: $3.50 Million USD
Based on the latest financial reports, Primary Hydrogen Corp (HNATF) holds total assets worth $3.50 Million USD as of August 2025.
Total assets represent everything the company owns and controls, combining both current assets—like cash and cash equivalents, accounts receivable, and inventories—and non-current assets such as property, plant, equipment (PP&E), intangible assets, and long-term investments.
Primary Hydrogen Corp - Total Assets Trend (2021–2024)
This chart illustrates how Primary Hydrogen Corp’s total assets have evolved over time, based on quarterly financial data. Explore and compare other companies by total assets.
Primary Hydrogen Corp - Asset Composition Analysis
Current Asset Composition (November 2024)
Primary Hydrogen Corp's total assets of $3.50 Million consist of 94.5% current assets and 5.6% non-current assets.
| Asset Category | Amount (USD) | % of Total Assets |
|---|---|---|
| Cash & Equivalents | $0.00 | 90.6% |
| Accounts Receivable | $0.00 | 0.0% |
| Inventory | $0.00 | 0.0% |
| Property, Plant & Equipment | $0.00 | 0.0% |
| Intangible Assets | $0.00 | 0.0% |
| Goodwill | $0.00 | 0.0% |
Asset Composition Trend (2021–2024)
This chart illustrates how Primary Hydrogen Corp's asset composition has evolved over time. Understanding changes in asset allocation can provide insights into the company's strategic shifts, capital allocation priorities, and business focus evolution.
Key Asset Composition Facts
- Current vs. Non-Current Assets: Primary Hydrogen Corp's current assets represent 94.5% of total assets in 2024, an increase from 74.8% in 2021.
- Cash Position: Cash and equivalents constituted 90.6% of total assets in 2024, up from 72.2% in 2021.
- Tangible vs. Intangible: Intangible assets (including goodwill) make up 0.0% of total assets, unchanged from 0.0% in 2021.
- Asset Diversification: The largest asset category is goodwill at 0.0% of total assets.
Primary Hydrogen Corp Competitors by Total Assets
Key competitors of Primary Hydrogen Corp based on total assets are shown below.
| Company | Country | Total Assets |
|---|---|---|
|
Galileo Resources Plc
LSE:GLR
|
UK | GBX14.28 Million |
|
Shenzhen Zhongjin Lingnan Nonfemet Co Ltd
SHE:000060
|
China | CN¥48.31 Billion |
|
Shengda Mining Co Ltd
SHE:000603
|
China | CN¥7.11 Billion |
|
Pangang Group Vanadium Titanium & Resources Co Ltd
SHE:000629
|
China | CN¥14.74 Billion |
|
China Tungsten and Hightech Materials Co Ltd
SHE:000657
|
China | CN¥20.78 Billion |
|
Guocheng Mining Co Ltd
SHE:000688
|
China | CN¥8.41 Billion |
|
China Nonferrous Metal Industry’s Foreign Engineering and Construction Co Ltd
SHE:000758
|
China | CN¥23.09 Billion |
|
Huludao Zinc Industry Co Ltd
SHE:000751
|
China | CN¥10.04 Billion |
Primary Hydrogen Corp - Asset Efficiency Metrics
Asset efficiency metrics measure how effectively a company uses its assets to generate revenue and profits. These indicators help investors evaluate management's ability to deploy capital efficiently.
Asset Turnover Ratio
Measures how efficiently a company uses its assets to generate sales
Lower asset utilization - Primary Hydrogen Corp generates 0.00x its asset value in annual revenue.
Return on Assets (ROA)
Measures how efficiently a company uses its assets to generate profits
Negative ROA - Primary Hydrogen Corp is currently not profitable relative to its asset base.
Primary Hydrogen Corp - Liquidity and Working Capital Analysis
Liquidity ratios measure a company's ability to pay off its short-term debts as they come due, using the company's current or quick assets. Working capital represents the operational liquidity available.
Key Liquidity Metrics
| Metric | Current | 1 Year Ago | 5 Years Ago |
|---|---|---|---|
| Current Ratio | 5.57 | 8.55 | 8.55 |
| Quick Ratio | 5.57 | 8.55 | 8.55 |
| Cash Ratio | 0.00 | 0.00 | 0.00 |
| Working Capital | $1.84 Million | $ 468.47K | $ 468.47K |
Primary Hydrogen Corp - Advanced Valuation Insights
This section examines the relationship between Primary Hydrogen Corp's asset base and its market valuation, helping to identify whether the company's assets are efficiently translated into market value.
Key Valuation Metrics
| Current Price-to-Book Ratio | - |
| Latest Market Cap to Assets Ratio | 0.37 |
| Asset Growth Rate (YoY) | 940.6% |
| Total Assets | $3.37 Million |
| Market Capitalization | $1.26 Million USD |
Valuation Analysis
Below Book Valuation: The market values Primary Hydrogen Corp's assets below their book value (0.37 x), which may indicate investor concerns about asset quality or future growth.
Rapid Asset Growth: Primary Hydrogen Corp's assets grew by 940.6% over the past year, indicating significant expansion of the company's resource base.
Annual Total Assets for Primary Hydrogen Corp (2021–2024)
The table below shows the annual total assets of Primary Hydrogen Corp from 2021 to 2024.
| Year | Total Assets | Change |
|---|---|---|
| 2024-11-30 | $3.37 Million | +940.58% |
| 2023-11-30 | $323.65K | -23.23% |
| 2022-11-30 | $421.60K | -23.86% |
| 2021-11-30 | $553.70K | -- |