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Clean Air Metals Files Interim Financial Statements for the Nine Months Ended October 31, 2023
THUNDER BAY, ON / ACCESSWIRE / January 2, 2024 / Clean Air Metals Inc. (" Clean Air Metals " or ...
About this update from Clean Air Metals, Inc.
[{"type":"text","content":"Clean Air Metals Files Interim Financial Statements for the Nine Months Ended October 31, 2023THUNDER BAY, ON / ACCESSWIRE / January 2, 2024 / Clean Air Metals Inc. (\"Clean Air Metals\" or the \"Company\") (TSXV:AIR)(FRA:CKU)(OTCQB:CLRMF) announces that it has filed its unaudited consolidated interim financial statements and management's discussion and analysis for the nine-month period ended October 31, 2023, available for viewing on www.sedarplus.ca.Financial HighlightsTotal assets as at October 31, 2023 of $39,854,603Total cash as at October 31, 2023 of $6,991,212Working capital as at October 31, 2023 of $7,490,011Shareholder's equity as at October 31, 2023 of $36,362,547Financial Summary For the three months ended For the nine months ended October 31,2023 October 31,2022 October 31,2023 October 31,2022 Operating Expenses $1,081,358 $1,244,247 $3,155,051 $3,352,677 Net Loss and Comprehensive Loss (1,012,630) (1,149,336) (2,920,934) (2,456,850) Loss per share - Basic and Diluted $(0.01) $(0.01) $(0.01) $(0.01) October 31,2023 January 31,2023 Total Assets $39,854,603 $42,290,356 Total Liabilities 3,492,056 3,425,984 Total Shareholders' Equity $36,362,547 $38,864,372 Full details of the financial reports and operating results for the nine-month period ended October 31, 2023 are described in the Company's unaudited consolidated interim financial statements with accompanying notes and related Management's Discussion and Analysis, available on SEDAR+ at www.sedarplus.ca.CEO StatementJim Gallagher, CEO stated, \"With almost $7 million cash available and our current spending profile, the Company remains in a solid financial position to ride out the difficult financial markets that have persisted throughout 2023. Although the financial pundits remain split on what 2024 holds, I am cautiously optimistic that 2024 will be better for the junior mining market in general and Clean Air Metals. The Company saw its share price double in the last few weeks of trading in 2023 lifted by several factors. Once tax loss selling had run its course, I believe many long-term investors saw the inherent bargain in our stock where we were trading for little more than the cash in the Company and the Thunder Bay North asset, which has close to 2 million equivalent ounces of Platinum in an indicated mineral resource, was being attributed no value. Furtherm...