Clean Air Metals Files Audited Annual Financial Statements for the Year Ended January 31, 2025
- Reduced net loss to $3.1M from $3.5M year-over-year
- Lower operating expenses at $3.5M compared to $3.9M in previous year
- Strong cash position of $3.4M enables continued project advancement
- Upcoming PEA release indicates project development progress
- Limited working capital of only $184,611
- Total assets declined to $37.9M from $39.2M year-over-year
- Increased total liabilities to $4.0M from $3.5M
THUNDER BAY, ON / ACCESS Newswire / June 2, 2025 / Clean Air Metals Inc. ("Clean Air Metals" or the "Company") (TSXV:AIR)(FRA:CKU)(OTCQB:CLRMF) announces that it has filed its audited consolidated financial statements and management's discussion and analysis for the year ended January 31, 2025, available for viewing on www.sedarplus.ca.
Financial Highlights
Total assets as at January 31, 2025 of
$37,908,937 Total cash as at January 31, 2025 of
$3,441,879 Working capital as at January 31, 2025 of
$184,611 Shareholder's equity as at January 31, 2025 of
$33,891,683
Financial Summary
For the year ended | ||||||||
January 31, 2025 | January 31, 2024 | |||||||
Operating Expenses | $ | 3,515,838 | $ | 3,930,784 | ||||
Net Loss and Comprehensive Loss | (3,124,992 | ) | (3,529,771 | ) | ||||
Loss per share - | ||||||||
Basic and Diluted | $ | (0.01 | ) | $ | (0.02 | ) | ||
Total Assets | $ | 37,908,937 | $ | 39,205,074 | ||||
Total Liabilities | 4,017,254 | 3,478,961 | ||||||
Total Shareholders' Equity | $ | 33,891,683 | $ | 35,726,113 | ||||
Full details of the financial reports and operating results for the year ended January 31, 2025 are described in the Company's audited consolidated financial statements with accompanying notes and related Management's Discussion and Analysis, available on SEDAR+ at www.sedarplus.ca.
The Company also announces that it has scheduled its 2025 Annual General Meeting for July 29, 2025 at 1:30 pm ET, which will be held virtually. The Company will be issuing the information circular with further details on July 2, 2025.
Outlook for 2025
The Company is eager to build on the success of its 2024/2025 winter drilling programs. In addition to identifying targets for the upcoming exploration program at the Thunder Bay North Project, the team is currently incorporating the positive results from last year's exploration and drilling into a new Preliminary Economic Assessment (PEA) expected to be released this fall. CEO Mike Garbutt comments, "Despite sustained industry headwinds, our cash position allows us to move ahead and prudently advance the project. The outlook for PGEs in the near to medium term is the most bullish it has been in the last 3 years, and we look forward to taking advantage of this momentum."
About Clean Air Metals
Clean Air Metals is a development and exploration company advancing its flagship,
One of the rare primary platinum resources outside of South Africa, the TBN project is in a stable and mining-friendly jurisdiction and benefits from longstanding relationships with local First Nations. With its proven technical team, Clean Air Metals is committed to growing the resources at the TBN project and creating long-term value for shareholders.
Social Engagement
Clean Air Metals Inc. acknowledges that the Thunder Bay North Critical Minerals Project is located within the area encompassed by the Robinson-Superior Treaty of 1850 and includes the territories of the Fort William First Nation, Red Rock Indian Band, Biinjitiwabik Zaaging Anishinabek and Kiashke Zaaging Anishinaabek. Clean Air Metals also acknowledges the contributions of the Métis Nation of Ontario, Region 2 and the Red Sky Métis Independent Nation to the rich history of our area.
The Company appreciates the opportunity to work in these territories and remains committed to the recognition and respect of those who have lived, travelled, and gathered on the lands since time immemorial. Clean Air Metals is committed to stewarding Indigenous heritage and remains committed to building, fostering and encouraging a respectful relationship with First Nations, Métis and Inuit peoples based upon principles of mutual trust, respect, reciprocity and collaboration in the spirit of reconciliation.
ON BEHALF OF THE BOARD OF DIRECTORS
"Mike Garbutt"
Mike Garbutt, CEO of Clean Air Metals Inc.
Connect with us on X/ Facebook/ Instagram.
Visit www.cleanairmetals.ca for more information or contact:
Mia Boiridy
Director of Communications and Investor Relations
250-575-3305
mboiridy@cleanairmetals.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or, future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof, and the Company does not assume any obligation to update or revise them to reflect new events or circumstances except in accordance with applicable securities laws. Actual events or results could differ materially from the Company's expectations or projections.
SOURCE: Clean Air Metals, Inc.
View the original press release on ACCESS Newswire
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