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LEADING EDGE MATERIALS REPORTS QUARTERLY RESULTS TO JANUARY 31, 2025
LEADING EDGE MATERIALS REPORTS QUARTERLY RESULTS TO JANUARY 31, 2025 Vancouver, March 21,...
About this update from Leading Edge Materials Corp.
[{"type":"text","content":"LEADING EDGE MATERIALS REPORTS QUARTERLY RESULTS TO JANUARY 31, 2025\n\n\n\n\n LEADING EDGE MATERIALS REPORTS QUARTERLY RESULTS TO JANUARY 31, 2025\n \n\n\n\n Vancouver, March 21, 2025 – Leading Edge Materials Corp.\n \n (“\n \n Leading Edge Materials\n \n ” or the “\n \n Company\n \n ”) (\n \n TSXV: LEM\n \n ) (\n \n Nasdaq First North: LEMSE\n \n ) (\n \n OTCQB: LEMIF\n \n )\n \n (FRA: 7FL)\n \n announces results for the fiscal period ending January 31, 2025. All references to dollar amounts in this release are in Canadian dollars.\n \n\n\n Highlights During and After the Quarter\n \n\n\n During the three months ended January 31, 2025:\n \n\n\n On December 8, 2024, the Company applied to the Mining Inspectorate of Sweden (“Bergsstaten”) for an Exploitation Concession (“Bearbetningskoncession”) 25-year mining lease for Norra Kärr.\n \n\n\n\n\n After the three months ended January 31, 2025:\n \n\n\n On February 9, 2025, the Company provided an update for the 100% owned Norra Kärr Heavy Rare Earth Elements (“HREE”) Project.\n \n\n\n\n On February 16, 2025, the Company provided details on its investigations into value creation opportunities for the 100% owned Woxna Graphite Mine (“Woxna”) in the context of delivering for Europe’s natural graphite needs.\n \n\n\n\n\n\n Results of Operations\n \n\n\n Three Months Ended January 31, 2025, Compared to Three Months Ended October 31, 2024\n \n\n During the three months ended January 31, 2025 (“Q1 2025”) the Company reported a net loss of $669,216 compared to a reported net loss of $320,029 for the three months ended October 31, 2024 (“Q4 2024”), an increase in loss by $349,187, the increase in loss mainly due to $376,490 is due to capitalization of Research, development and general exploration expense (Q4 2024 - $843,329), partly off-set by foreign exchange gain $1,690 (Q4 2024- loss $82,247) and write off of Inventory $Nil (Q4 2024- $165,669).\n \n\n Three Months Ended January 31, 2025, Compared to Three Months Ended January 31, 2024\n \n\n During the three months ended January 31, 2025 (“2025 period”), the Company reported a net loss of $669,216 compared to a net loss of $685,928 for the three months ended January 31, 2024 (“2024 p...