Bradda Head Lithium Ltd Announces MD&A for 3 Months Ended 31 May 2024
Bradda Head Lithium Ltd Announces MD&A for 3 Months Ended 31 May 2024
BRITISH VIRGIN ISLANDS / ACCESSWIRE / July 24, 2024 / This management's discussion and analysis ("MD&A") reports on the operating results and financial condition of the Company for the three-month ended May 31, 2024, and is prepared as of July 23, 2024. The MD&A should be read in conjunction with Bradda Head Lithium Limited's (the "Company" or "Bradda Head") audited consolidated financial statements for the year ended February 28, 2024, and the notes thereto which were prepared in accordance with International Financial Reporting Standards ("IFRS").
这份管理讨论和分析报告(MD&A)报告了公司2024年5月31日结束的三个月的运营结果和财务状况,并于2024年7月23日编制。 应与Bradda Head Lithium Limited的(“公司”或“Bradda Head”)截至2024年2月28日的审计合并财务报表及其依照国际财务报告准则(IFRS)编制的附注一起阅读。
All dollar amounts referred to in this MD&A are expressed in United States dollars except where indicated otherwise.
此MD&A中提到的所有金额均以美元表示,除非另有说明。
Overview
概述
Bradda Head Lithium Limited was incorporated on October 28, 2009, in the British Virgin Islands under the British Virgin Islands Companies Act with registered number 1553975 with the name Copper Development Corporation. On October 5, 2015, the Company changed its name from Copper Development Corporation to Life Science Developments Limited, and on April 18, 2018, the Company changed its name to Bradda Head Holdings Limited. On September 15, 2021, the Company changed its name to Bradda Head Lithium Limited.
Bradda Head锂矿有限公司成立于2009年10月28日,其注册编号为1553975,根据英属维京群岛公司法在英属维京群岛注册,最初名为铜发展公司。 2015年10月5日,公司将其名称从铜发展公司更改为生命科学发展有限公司,2018年4月18日,公司将其名称更改为Bradda Head Holdings Limited。2021年9月15日,公司将其名称更改为Bradda Head Lithium Limited。
The Company has one business segment, being mineral exploration. The Company is focused on appraising and developing lithium mining projects within North America and currently has interests in a variety of projects in the United States.
该公司只有一个业务板块,即矿业勘探。该公司专注于评估和开发北美的锂矿项目,并目前拥有多个位于美国境内的项目。
Corporate and Exploration Highlights
企业和勘探亮点
Exploration Highlights
勘探亮点
Set forth in this section is a description of the Company's material mineral projects. All scientific and technical data contained in this MD&A has been reviewed and approved by Joey Wilkins, B.Sc., P.Geo., who is Chief Operating Officer at Bradda Head and a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
本节描述了公司的主要矿产项目。此MD&A中包含的所有科学技术数据均经Joey Wilkins,BSc,P.Geo.的审查和批准,他是Bradda Head的首席运营官和符合国家43-101号文 - 矿山项目披露标准(“NI 43-101”)规定的合格人员。
Arizona Sedimentary Hosted Lithium Projects
亚利桑那州沉积岩锂矿项目
Basin Project
On March 12, 2024, the Company commenced drilling at its Basin North lithium in clay project in Arizona, USA. The six-hole program was designed to significantly expand the Company's existing lithium in clay Mineral Resource Estimate ("MRE").
盆地项目
2024年3月12日,公司开始在美国亚利桑那州的盆地北部钻探其锂黏土项目。该六孔计划旨在显著扩大公司现有的锂黏土矿产资源估算(MRE)。
Program Summary:
程序总结:
Six-hole core drilling program of approximately 8,800 feet (2,680m) planned;
Program anticipated to expand LCE from 1.085MT to >2.5MT;
Step-out drill holes at 500 to 700m spacing to maintain Inferred category of MRE;
One hole will be drilled into Precambrian basement in center of gravity low;
Gravity low may represent extensively thick clays both in the Upper, Lower, and Basal Red-Beds; and
Holes will test Lower Clay to expand tonnage potential and thicker sequence correlative with gravity low which also has the potential for exceptional lithium grades
计划进行约8,800英尺(2,680米)的六孔岩心钻探;
计划预计将LCE从1.085Mt扩展到>2.5MT;
500至70000万孔距的一步拓展钻孔,以维持MRE的推论类别;
一个孔将钻到重心低处的前寒武纪基底;
重力低可能代表上、下和基底红层板块内广泛的厚黏土;
孔将测试下层粘土以扩大吨位潜力和厚度与重力低相关的序列,后者还具有卓越的锂品位潜力。
The drill program was successfully completed on May 9, 2024, with two additional holes drilled for a total of eight holes drilled. Average hole depth of 285 meters (934 feet) with a range of 231 to 387 meters (757 to 1,269 feet) in a total of 2,353 meters (7,720 feet) drilled. This was less than the 2,682 meters (8,800 feet) initially envisaged as a result of finding shallower clay targets than anticipated.
该钻探计划于2024年5月9日顺利完成,共钻探了两个额外的钻孔,总共钻探了8个钻孔。平均井深285米(934英尺),范围为231到387米(757英尺到1,269英尺),共钻探了2,353米(7,720英尺)。由于发现比预期更浅的黏土目标,钻孔深度比最初预计的2,682米(8,800英尺)要少。
Drilling highlights include:
钻井亮点包括:
Further resource increase anticipated following the definition of a window 900 meters wide (east-west) by 1,780 meters in length (north-south), consistent continuous lithium-bearing Upper and Lower Clay units, it has the potential to continue expanding, being wide open in all directions;
Thickest Upper Clay unit at 103 meters in the center of the drill pattern discovered at hole BND24-19;
Two holes were drilled on State Lands and designed to capture lower clay; substantially increasing the lower clay reach from Basin East to the northern end of Basin North, a linear distance of 3.3km;
Program was successfully completed under budget and without any environmental or safety incidents;
Completion of this program has produced promising visual results, Bradda Head's geology team are now able to recognise that the clays contained strong characteristics of high lithium values, and are greatly encouraged by the clays seen in the past eight drill holes; and
The Qualified Person (QP) has made a site visit and was provided with all the geological and technical information, and the geologic block model has been revised to reflect the new intervals from drill hole lithologies and peripheral surficial geology.
在定义东西900米宽(东-西) x 1,780米长(南北)窗口之后,预计将进一步增加资源,一致连续的含锂上、下粘土层,具有继续扩大的潜力,在所有方向上都是敞开的;
在孔BND24-19发现的中央钻探图案中,上黏土层最厚为103米;
在州土地上钻了两个孔,旨在捕捉下黏土;从盆地东部到盆地北部,即3.3公里的线性距离,大幅增加了下黏土的到位范围;
该计划顺利完成,未发生任何环境或安全事故;
完成该计划已经产生了有希望的视觉效果,Bradda Head的地质团队现在能够认识到这些黏土具有高锂价值的强特征,并且对过去的八个钻孔所看到的黏土感到非常鼓舞;
此外,合格人员(QP)已进行了现场访问,并提供了所有地质和技术信息,地质模型已根据钻孔岩石学和周边地表地质的新间隔进行了修订。
Post period end on July 1, 2024, the Company announced a new MRE at the Company's 100% owned Basin Project in Arizona, USA. The new MRE consists of 99kt of lithium carbonate equivalent ("LCE") at an average grade of 929 ppm lithium in Measured classification, 560kt of LCE at 860ppm Li in the Indicated classification; and 2,175kt of LCE at 808ppm Li in the Inferred classification following the completion of drilling, reception and analysis of geochemical results, and new modelling of the Basin project. As per the Gross Overriding Royalty Agreement ("Royalty Agreement") with the Lithium Royalty Company ("LRC"), the new contained LCE Tonnage surpassed the contracted threshold of 2.5Mt and has enabled the Company to trigger the payment of US$3.0 million from LRC to Bradda Head, with the funds being received on 8 July 2024.
2024年7月1日以后,公司宣布了美国亚利桑那州盆地项目的新MRE。新的MRE由权益量99kt的碳酸锂等值物(LCE)组成,平均品位为929ppm锂,属于已测量分类;560kt的LCE,锂品位860ppm,在指示分类中;以及2,175kt的LCE,锂品位808ppm,在推论分类中,在完成钻探、接收和地球化学结果分析以及盆地项目的新建模后。根据与锂版权公司(LRC)的总复位版税协议(Royalty Agreement),新的含有LCE吨位超过了2.5Mt的合同门槛,已使公司触发从LRC到Bradda Head的300万美元付款,资金在2024年7月8日到账。
Basin Project Permitting Update
盆地项目许可更新
A Basin West drilling permit kick-off meeting was also held with the BLM in April and organised to initiate the NEPA (National Environmental Policy Act) process for development of the EA (Environmental Assessment) Report that, once approved, will allow the Company to commence drilling. This process follows the BLM's letter of EPO (Exploration Plan of Operations) completeness which the Company received earlier this year and marks an important step on expanding our ability to extend exploration over the very promising Basin West target.
今年4月,BLm还举行了Basin West钻探许可证启动会议,并组织开展了NEPA(国家环境政策法案)过程,以开发EA(环境评估)报告,一旦获得批准,公司就可以开始钻探。这个过程遵循了BLM的EPO(探矿经营计划)完整性信函,这是公司本年度早些时候收到的,并标志着我们扩展探索非常有前途的盆地西部目标的能力的重要一步。
Wikieup Project
Wikieup 项目
No significant work has been undertaken on this project during the 3-month period.
在这个项目中,未有重大工作在三个月期间内得以展开。
Arizona Pegmatite District
San Domingo Project
圣多明戈项目
San Domingo 项目
On April 8, 2024, the Company released results from its channel sampling program. The results included 5.00 meters of 2.33%, 4.10 meters of 2.81%, and 4.00 meters of 1.26% Li2O at the White Ridge Target and 5.30 meters of 1.25% Li2O at Morning Star. These and other surface samples collected were designed to augment the Phase II, 2023 drilling program as well as determine that this technique can and will be applied to future surface exploration programs planned in Q3 of this year.
2024年4月8日,公司发布了其采样计划的结果。结果包括白山目标地区 5.00 米 2.33%、4.10 米 2.81% 和 4.00 米 1.26% 的 Li2O,以及星光矿区的 5.30 米 1.25% 的 Li2O 和其他表层采样。收集采样的目的是为了补充2023年第二阶段的钻探计划,并确定这种技术将应用于今年第三季度计划的未来表层探测计划。
Highlights
亮点
A total of 77 samples were collected from strategic targets across the San Domingo project, with locations designed to supplement drill holes that contain lithium (spodumene) mineralization, particularly those that could result in mineable resources;
Some locations were chosen as a result of newly exposed spodumene bearing pegmatites at new drill sites;
White Ridge channel samples correspond to drill hole SD-DH23-072, confirming continuity of spodumene rich pegmatite, indicates mineralization is open to the north and at depth;
Channel samples at Morning Star drill site SD-DH23-090 cut, 5.30 meters at 1.25% Li2O, clearly connect and add confidence in continuity, building on resource potential;
The channel samples at Midnight Owl likely connect to drill hole SD-DH23-049 which had an intercept of 6.35 meters @ 0.83% Li2O and 3.05 meters of 1.03% (see 11 Nov 2023 Press Release for details), a distance of 55 meters from surface; and
The Company is capitalizing on surface lithium mineralization exposures through channel sample techniques and by connecting to drill holes; this continues to demonstrate open cut potential and in part, will drive the next exploration program.
共收集了77个样本,这些样本来自圣多明戈项目的战略性目标,这些位置旨在补充含锂(碎锂石)矿化的钻孔,特别是那些可能会导致可采资源的钻孔。
一些地点的选择是由于新钻探站点暴露的含碎锂石轴脉。
白山目标地区的采样对应于钻孔 SD-DH23-072,确认了碎锂石丰富脉石的连续性,表明矿化在北部和深部都很开放。
星光矿区的沟采样 SD-DH23-090,截取了1.25%的Li2O,确定了连续性和资源潜力,增强了信恳智能。
午夜猫的沟采样可能对应于钻孔SD-DH23-049,该钻孔的截获结果为6.35米@0.83% Li2O和3.05米@1.03%(详见2023年11月11日的新闻稿),表层距离为55米。
公司正在利用表层锂矿化暴露和沟采样技术,并连接钻孔。这继续展示了露天开采的潜力,并将在一定程度上推动下一阶段的勘探。
As at period end, the Company is diligently working on the next phase of exploration at the 100% owned San Domingo pegmatite project. The team believe that there is excellent potential to find new lithium bearing pegmatites given the extensive size of the nearly 33 square kilometer property and limited amount of ground coverage to date. In addition, to developing new targets, there will be follow-up on last year's drill hole intercepts, as well as this year's excellent channel sampling at Morning Star, White Ridge, and Midnight Owl. The future plan will be to strategically place drill holes to test channel sample mineralization and offset down-hole mineralization in order to grow resource potential at all three targets.
截至期末,公司正在努力开展100%拥有的圣多明戈脉石项目的下一阶段勘探工作。团队认为,鉴于近33平方公里的物业规模和有限的地表覆盖范围,有很大的潜力找到新的含锂脉石。除了开发新目标外,还将跟进去年的钻孔截获,以及今年在星光、白山和午夜猫进行的优秀沟采样。未来的计划是在三个目标的所有潜在区域策略性地布置钻孔,以测试地表矿化和井下矿化的偏移量,以扩大三个目标的资源潜力。
Lithium Brine and Oil Brine Projects
锂卤和油卤项目
Wilson Project
威尔逊项目
No field work has transpired over the last 3 months.
过去3个月没有进行现场工作。
Eureka Project
尤里卡项目
No field work has transpired over the last 3 months.
过去3个月没有进行现场工作。
Oil Brine Projects - Pennsylvania & Texas
Additional legal documents were filed in Pennsylvania to update various leases and bring them up to date with the county.
油卤项目 - 宾夕法尼亚和德克萨斯
在宾夕法尼亚提交了补充法律文件,以更新各种租约并使之与县保持一致。
A forgotten lease from 2018 in Texas was executed with another member of the Cooner family to further lock-up our position on the 40-acre lease in Cass County. All legal documents were signed by both Zenolith USA LLC and the lessor, then filed with the county. The Company continues to track activity in the area, notably exploration drilling by Standard Lithium and a newcomer named Terravolt, a privately financed company. Both have significant tenure and licenses in East Texas and within the Smackover Formation.
德克萨斯州的一份2018年的遗忘租约与 Cooner 家族的另一位成员签署,以进一步固定我们在 Cass 县40英亩租约上的位置。Zenolith USA LLC 和出租方都已签署所有法律文件,并提交给市县。公司继续跟踪该地区的活动,特别是由标准锂和名为Terravolt的新公司进行的勘探钻井。两者在东德克萨斯州和Smackover地层均拥有重要许可证和执照。
Corporate Highlights
企业要闻
On May 20, 2024, the Company announced that it entered into a settlement agreement regarding the fraudulent payment made to an unidentified party, as disclosed in the prior year accounts. Pursuant to the settlement agreement, the Company has been partially reimbursed for the fraudulent funds transfer. The partial settlement is consistent with Company's expectations at the time of initiating enforcement proceedings with gross recovery of approximately 40% of total misappropriated funds.
2024年5月20日,公司宣布就向一个未具名的公司支付欺诈性款项达成和解协议,该情况在去年年终账目中披露。根据和解协议,公司已部分获得欺诈性资金转移的赔偿。这部分和解款与公司在启动执行程序时的预期相一致,总共回收了约40%的被侵占资金。
Selected Financial Information
财务精选信息
The following table sets forth selected financial information with respect to the Company for the 3-month period ended May 31, 2024 and the year ended February 28, 2024. The selected financial information has been derived from the audited financial statements for the period indicated. The following should be read in conjunction with the said financial statements and related notes that are available on the Company's website - .
下表列出了截至2024年5月31日的三个月期间和截至2024年2月28日的全年有关公司的精选财务信息。所选财务信息来源于所示时间段的已审计财务报表。以下内容应结合公司网站上提供的财务报表和相关说明阅读。
The annual financial statements and quarterly financial statements are presented in US dollars and are prepared in accordance with IFRS, See "Summary Financial Data" and "Currency Information".
年度财务报表和季度财务报表以美元为单位,按照IFRS准备,详见“摘要财务数据”和“货币信息”。
Period ended May 31, 2024 |
Year ended February 28, 2024 |
|
---|---|---|
(Audited) (US$) |
(Audited) (US$) |
|
Statement of Operations: |
||
Total Operating Expenses (net of other income) |
(576,593) |
(1,143,294) |
Net Finance income |
7,185 |
59,102 |
Net Loss |
(569,408) |
(1,084,192) |
Loss per Share (cents) |
(0.146) |
(0.278) |
Balance Sheet Data: |
||
Cash & cash equivalents, including cash deposits |
534,437 |
1,664,662 |
Total Assets |
15,903,541 |
15,848,063 |
Total Liabilities |
811,245 |
186,359 |
Accumulated Deficit |
(15,524,077) |
(14,954,669) |
Total Shareholder's Equity |
15,092,296 |
15,661,704 |
期末截至2024年5月31日 |
截至2024年2月28日的全年 |
|
---|---|---|
(已审计) - |
(已审计) - |
|
损益表: |
||
净营业费用总额(扣除其他收入) |
(576,593) |
(1,143,294) |
净金融收入 |
7,185 |
59,102 |
净亏损 |
(569,408) |
(1,084,192) |
每股亏损(分) |
(0.146) |
(0.278) |
资产负债表数据: |
||
现金及现金等价物,包括存款 |
534,437 |
1,664,662 |
总资产 |
15,903,541 |
15,848,063 |
总负债 |
811,245 |
186,359 |
累计赤字 |
(15,524,077) |
(14,954,669) |
股东权益总计 |
15,092,296 |
15,661,704 |
MANAGEMENT DISCUSSION AND ANALYSIS: QUARTER ENDED MAY 31, 2024
管理层讨论和分析:截至2024年5月31日的季度
Introduction
介绍
This Quarterly Management Discussion and Analysis (the "quarterly MD&A") should be read in conjunction with the audited financial statements of the Company for the year ended February 28, 2024, and related notes. This MD&A is made as of July 23, 2024.
这份季度管理层讨论和分析(以下简称“季度MD&A”)应与公司截至2024年2月28日的审计财务报表及相关附注一起阅读。本MD&A截至2024年7月23日发布。
Results of Operations for the three-months ended May 31, 2024
2024年5月31日为期三个月的经营业绩
The Company's net loss before and after tax for the three-month period to May 31, 2024 was US$ 569,408, compared to a loss of US$ 1,084,192 for the comparative period ended May 31, 2023. The major expenses for the three-month period ended May 31, 2024 were operational expenses incurred on the Company's exploration projects, and are broken down in the respective projects as follows:
截至2024年5月31日的三个月净亏损为569,408美元,此前年度同期亏损为1,084,192美元。2024年5月31日为期三个月的主要支出是公司勘探项目的营业支出,并在各自的项目中拆分,如下所示:
Project |
Expensed Exploration Expenditure |
|
Three-Month Period Ended May 31, 2024 (Unaudited) US$ |
Three-Month Period Ended May 31, 2023 (Unaudited) US$ |
|
Basin Project |
153,084 |
249,399 |
San Domingo Project |
- |
286,782 |
Other projects |
11,194 |
15,687 |
TOTAL |
164,278 |
551,868 |
项目 |
勘探支出费用 |
|
截至2024年5月31日的三个月期间 (未经审计) 美元 |
2023年5月31日结束的三个月时间段 (未经审计) 美元 |
|
盆地项目 |
153,084 |
249,399 |
San Domingo 项目 |
- |
286,782 |
其他项目 |
11,194 |
15,687 |
TOTAL |
164,278 |
551,868 |
During this time period, the Company incurred and capitalised exploration expenditures of US$ 1,191,930, compared to US$ 1,228,739 for the comparative three-month period to May 31, 2024.
在此期间内,公司发生并资本化了1,191,930美元的勘探支出,相比之下截至2024年5月31日的三个月期间为1,228,739美元。
The capitalised exploration costs for the three-month period ended May 31, 2024 have been allocated amongst the Company's exploration projects in approximately the following amounts:
2024年5月31日结束的三个月期间内,资本化的勘探成本已按以下约略比例分配到公司的勘探项目中:
Project |
Capitalised exploration costs |
Capitalised expenditures for licences and permits |
Capitalised exploration costs |
Capitalised expenditires for licences and permits |
Three-Month Period Ended May 31, 2024 (Unaudited) US$ |
Three-Month Period Ended May 31, 2024 (Unaudited) US$ |
Three-Month Period Ended May 31, 2023 (Unaudited) US$ |
Three-Month Period Ended May 31, 2023 (Unaudited) US$ |
|
Basin Project |
1,178,072 |
9,823 |
421,013 |
- |
San Domingo Project |
4,036 |
- |
527,432 |
250,000 |
Other Project |
- |
- |
- |
30,294 |
TOTAL |
1,182,108 |
9,823 |
948,445 |
280,294 |
项目 |
资本化的勘探成本 |
许可证和许可证的资本化支出 |
资本化的勘探成本 |
许可证和许可支出的资本化支出 |
截至2024年5月31日的三个月期间 (未经审计) 美元 |
截至2024年5月31日的三个月期间 (未经审计) 美元 |
2023年5月31日结束的三个月时间段 (未经审计) 美元 |
2023年5月31日结束的三个月时间段 (未经审计) 美元 |
|
盆地项目 |
1,178,072 |
9,823 |
421,013 |
- |
San Domingo 项目 |
4,036 |
- |
527,432 |
250,000 |
其他项目收入 |
- |
- |
- |
30,294 |
TOTAL |
1,182,108 |
9,823 |
948,445 |
280,294 |
The exploration expenditures have been primarily costs associated with drilling, assaying, resource and mining consultants, metallurgical testing, environmental studies, project team fees, acquisition of new leases, and annual renewal of existing leases.
勘探支出主要涵盖钻探、化验、资源和矿业顾问、冶金测试、环境研究、项目团队费用、新租赁合约购置以及现有租赁年度更新的成本。
General and administrative expenses for the three-month period to May 31, 2024 totalled US$ 1,258,841, compared to US$ 1,258,841 for the comparative three-month period to May 31, 2023. General and administrative expenses are broken down as follows:
2024年5月31日为止的三个月期间的总管理费用为1,258,841美元,而2023年5月31日为止的三个月期间的总管理费用为1,258,841美元。总管理费用细分如下:
Project |
General and administrative expenditures |
|
Three-Month Period Ended May 31, 2023 (Unaudited) US$ |
Three-Month Period Ended May 31, 2023 (Unaudited) US$ |
|
Auditors' fees |
19,600 |
19,600 |
Directors and management fees and salaries |
114,675 |
137,541 |
Legal and accounting |
12,414 |
83,613 |
Contractor costs |
164,278 |
551,868 |
Professional and marketing costs |
66,456 |
204,203 |
Other administrative costs |
218,199 |
262,016 |
TOTAL |
595,622 |
1,258,841 |
项目 |
总行政支出 |
|
2023年5月31日结束的三个月时间段 (未经审计) 美元 |
2023年5月31日结束的三个月时间段 (未经审计) 美元 |
|
审计师费用 |
19,600 |
19,600 |
董事和管理费用及薪金 |
114,675 |
137,541 |
法律与会计 |
12,414 |
83,613 |
承包商费用 |
164,278 |
551,868 |
专业和市场费用 |
66,456 |
204,203 |
其他行政开支 |
218,199 |
262,016 |
TOTAL |
595,622 |
1,258,841 |
During the three-month period to May 31, 2024, there have been no changes in financial performance or other elements that relate to non-core business activities and operations.
2024年5月31日为止的三个月期间,公司的非核心业务活动和运营的财务表现或其他方面没有变化。
Cash flows
现金流量
During the three-month period ended May 31, 2024, the Company had net cash outflows of US$ 1,130,225, compared to outflows of US$ 6,653,661 during the comparative three-month period to May 31, 2023. Net cash outflows for the current 3-month period ended May 31, 2024, include return of cash amounts placed on short term deposits, totalling US$ 1,000,135. The cashflows for the two periods are shown below:
2024年5月31日为止的三个月期间,公司的净现金流出为1,130,225美元,而2023年5月31日为止的三个月期间的净现金流出为6,653,661美元。当前期间的净现金流出包括短期存款返还总额1,000,135美元。两个时期的现金流如下所示:
Three-Month Period Ended May 31, 2023 (Unaudited) US$ |
Three-Month Period Ended May 31, 2023 (Unaudited) US$ |
|
---|---|---|
Statement of cashflows |
||
Cash flows from operating activities |
54,521 |
(1,581,692) |
Cash flows from investing activities |
(1,191,931) |
(1,225,489) |
Cash flows from financing activities * |
7,185 |
(3,846,480) |
Net cash flows during the period |
(1,130,225) |
(6,653,661) |
Cash balances at beginning of the period |
1,664,662 |
7,746,519 |
Cash balances at the end of the period |
534,437 |
1,092,858 |
2023年5月31日结束的三个月时间段 (未经审计) 美元 |
2023年5月31日结束的三个月时间段 (未经审计) 美元 |
|
---|---|---|
现金流量表 |
||
经营活动现金流 |
54,521 |
(1,581,692) |
投资活动现金流量 |
(1,191,931) |
(1,225,489) |
来自筹资活动的现金流* |
7,185 |
(3,846,480) |
期间净现金流量 |
(1,130,225) |
(6,653,661) |
期初现金余额 |
1,664,662 |
7,746,519 |
期末现金余额 |
534,437 |
1,092,858 |
* includes US$ 3,905,582 placed on short term deposit for the period ended May 31, 2023.
* 包括于2023年5月31日结束的短期存款合计3,905,582美元。
Liquidity and Capital Resources
流动性和资本资源
As at May 31, 2024, the Company had cash and cash equivalents (including short term cash deposits) of US$ 534,437, and a working capital deficit of US$ 166,102. As of February 28, 2024, the Company had cash and cash equivalents of US$ 1,664,662, and a working capital surplus of US$ 1,601,571.
截至2024年5月31日,公司的现金及现金等价物(包括短期现金存款)为534,437美元,运营资本赤字为166,102美元。截至2024年2月28日,公司的现金及现金等价物为1,664,662美元,运营资本盈余为1,601,571美元。
Outstanding Share Data
普通股数据
As of May 31, 2024, the following securities were outstanding:
截至2024年5月31日,以下证券仍未清算
Shares |
390,609,439 |
Warrants |
8,502,745 |
Stock options |
37,871,052 |
Fully diluted shares outstanding |
436,983,236 |
股份 |
390609439 |
权证 |
8,502,745 |
期权 |
37871052 |
全面摊薄的股权 |
436,983,236 |
The Company's objectives when managing capital are to safeguard its ability to continue as a going concern, so that it can continue to provide returns for shareholders, benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital.
公司在管理资本时的目标是保障其作为经营实体的能力,以便能够继续为股东提供回报,为其他利益相关方提供利益,并维持一种最佳资本结构以降低资本成本。公司的资本结构包括现金及现金等价物,归属于股东的权益包括出资权益、储备及累计亏损。为了维持或调整资本结构,公司可以发行新股份,出售资产以减少债务或调整公司所承担的活动水平。
The capital structure of the Company includes cash and cash equivalents, equity attributable to equity holders comprised of contributed equity, reserves and accumulated losses. In order to maintain or adjust the capital structure, the Company may issue new shares, sell assets or adjust the level of activities undertaken by the Company.
公司的资本结构包括现金及现金等价物,归属于普通股股东的股本,储备及累计亏损。为了维护或调整资本结构,公司可能会发行新股份、出售资产或调整公司承担的活动水平。
The Company monitors capital based on cash flow requirements for operational, exploration and evaluation expenditures. The Company has no debt or other borrowings as at the date of this Application. The Company will continue to use capital market issuances to satisfy anticipated funding requirements.
本新闻稿还包括某些“前瞻性声明”,这些声明并不包括历史事实。前瞻性声明包括描述公司未来计划、目标或目标的估计和声明,包括“认为”,“预计”,“预计”,“估计”,“可能”,“可能”,“将”或“计划”等用语。由于前瞻性陈述基于假设并涉及未来事件和情况,它们本质上涉及固有风险和不确定性。尽管这些陈述是基于公司当前可用的信息,但公司不保证实际结果将与管理层的期望一致。涉及前瞻性信息的风险、不确定性及其他因素可能导致实际事件、结果、表现、前景和机会与这种前瞻性信息所表达或暗示的不一致性。本新闻稿中的前瞻性信息包括但不限于以下内容:公司的目标、目标或未来计划。
The availability of equity capital, and the price at which additional equity could be issued, is dependent upon the success of the Company's exploration activities, and upon the state of the capital markets generally. Additional financing may not be available on terms favourable to the Company or at all. If the Company does not receive future financing, it may not be possible for the Company to advance the exploration and development of its mineral exploration properties. If the Company is not able to fund these minimum expenditures, it may not be able to maintain part or all of its mineral exploration property interests. See "Risk Factors".
增发股份的可行性及可发行的价格取决于公司勘探活动的成功和资本市场总体状况。可能无法或以不利于公司的条件获得额外融资。如果公司没有获得未来融资,可能无法推进其矿产勘探项目的勘探和开发。如果公司无法资助这些最低费用,可能无法保留部分或全部的矿产勘探财产权益。请参阅“风险因素”。
Off-Balance Sheet Arrangements
不设为资产负债表账目之离线安排
The Company does not have any off-balance sheet arrangements.
公司没有任何的资产负债表头寸。
Transactions with Related Parties
关联方交易
The Company has conducted transactions with officers, directors and persons or companies related to directors or officers and paid or accrued amounts as follows:
公司与高管、董事和相关董事或高管的个人或公司进行了交易,并支付或计提了以下费用:
Edgewater Associates Limited ("Edgewater")
Edgewater Associates Limited ("Edgewater")
During the three-month period ended May 31, 2024, Directors' and Officers' insurance was obtained on an arms-length basis through Edgewater, which is a 100% subsidiary of Manx Financial Group ("MFG"). James Mellon and Denham Eke are Directors of both the Company and MFG.
2024年5月31日结束的三个月期间,董事和高管保险是通过Manx Financial Group("MFG")的全资子公司Edgewater以公正的方式获得的。James Mellon和Denham Eke是该公司和MFG的董事。
During the period, the premium payable on the policy was US$ Nil (year ended February 28, 2024: US$ 43,061). A total of US$ 794 was prepaid as at the period end (February 28, 2024: US$ 11,560).
该期间,该保单的保费应付为零美元(2024年2月28日结束的一年:43,061美元)。期末已预付794美元(2024年2月28日结束的一年:11,560美元)。
Critical Accounting Estimates
重要会计估计
The preparation of financial statements in conformity with IFRS requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Such estimates and assumptions affect the carrying value of assets, and impact decisions as to when exploration and development costs should be capitalized or expensed.
按照IFRS编制财务报表需要管理层做出估计和假设,这些估计和假设影响资产负债表中报告的资产和负债、披露的有条件资产和负债以及报告期间报告的收入和费用的金额。这些估计和假设影响资产的账面价值,影响决定勘探和开发成本应该资本化还是费用化的决策。
As at May 31, 2024, the Company had incurred capitalised exploration expenditures, including capitalised licence and permit costs, of US$ 14,999,089. Changes in management's judgment as to the prospective nature, assessment of the existence or otherwise of economically recoverable reserves, technical feasibility and/or commercial viability of the relevant tenements and the Company's intentions with respect to the relevant tenements, could affect the assessment of the recoverable amount
截至2024年5月31日,公司已经发生了资本化的勘探支出,包括资本化的许可证和许可证费用,共计14,999,089美元。管理层对有关权证的前景性、存在或不存在经济性可采储量、技术可行性和/或商业可行性以及公司对有关权证的意图的评价的变化可能会影响可收回金额的评估。
The Company regularly reviews its estimates and assumptions: however, actual results could differ from these estimates and these differences could be material.
公司定期审查其估计和假设,但实际结果可能与这些估计有区别,这些差异可能具有重大影响。
Forward-Looking Statements
前瞻性声明
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. This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, following: The Company's objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: failure to identify mineral resources; failure to convert estimated mineral resources to reserves; delays in obtaining or failures to obtain required regulatory, governmental, environmental or other project approvals; political risks; future operating and capital costs, timelines, permit timelines, the market and future price of and demand for lithium, and the ongoing ability to work cooperatively with stakeholders, including the local levels of government; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices; delays in the development of projects, capital and operating costs varying significantly from estimates; an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains; and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDARplus. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
TSX Venture Exchange及其监管服务提供商(如TSX Venture Exchange政策中定义的那样)均不承担本公告的充分性或准确性的责任。本新闻稿包括某些不由历史事实组成的"前瞻性陈述"。前瞻性陈述包括描述本公司未来计划、目标或目的的估计和陈述,包括表明该公司或管理层希望某种条件或结果将发生的措辞。前瞻性声明可能通过"认为"、"预计"、"期望"、"估计"、"可能"、"可能"、"将"或"计划"等这些术语来识别。由于前瞻性声明基于假设并涉及未来事件和条件,所以它们本质上涉及固有的风险和不确定性。尽管这些声明是基于目前可用于公司的信息,但公司不提供任何保证实际结果将符合管理层的期望。涉及前瞻性信息的风险、不确定因素和其他因素可能导致实际事件、结果、绩效、前景和机会与此类前瞻性信息所表达或暗示的不相符。本新闻稿中的前瞻性信息包括但不限于以下内容:本公司的目标、计划或未来计划。可能导致实际结果与此类前瞻性信息不符的因素包括但不限于:未能发现矿产资源;未能将估计的矿产资源转化为储量;在获得或未能获得必要的监管、政府、环境或其他项目批准方面的延迟或未能获得;政治风险;未来的运营成本和资本成本、时间表、许可证时间表、锂市场和将来的价格以及需求以及继续能与利益相关者合作,包括地方政府层面;有关未来需要融资的可用性和成本的不确定性;股票市场的变化,通货膨胀,汇率变化,商品价格波动;项目开发延迟,资本和运营成本与估计相差很大;无法预测并抵消COVID-19对公司业务的影响,包括但不限于COVID-19对大宗商品价格、资本市场状况、劳动力和国际旅行和供应链限制的影响;以及矿产勘探和开发行业所涉及的其他风险,以及该公司在SEDARplus上提交的公开文件中所述的风险。尽管本公司认为在准备本新闻稿中的前瞻性信息时使用的假设和因素是合理的,但不应过分依赖这些信息,这些信息仅适用于本新闻稿的发布日期,并且不能保证此类事件将在披露的时间范围内或根本不会发生。该公司放弃任何更新或修订前瞻性信息的意向或义务,除非法律要求这样做。
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SOURCE: Bradda Head Lithium Limited
资料来源:Bradda Head Lithium Limited