Fri, Dec 20, 5:58 PM (23 days ago)
**Premium Resources Ltd. (PNRL) Q3 2024 Financial Summary** Premium Resources Ltd. reported a net loss of CAD 12,005 (USD 8,892) for Q3 2024, an increase from CAD 7,685 (USD 5,500) in Q3 2023, driven by heightened exploration expenses and interest on a term loan. Year-to-date, the loss reached CAD 31,145 (USD 23,000), compared to CAD 22,200 (USD 16,000) in the previous year. The company’s working capital slightly improved to CAD 15,093 (USD 11,000) as of September 30, 2024, while cash reserves decreased to CAD 17,358 (USD 12,800). Exploration efforts intensified, with approximately 60,899 meters drilled across 156 holes at the Selebi Mines, leading to the filing of an Initial Mineral Resource Estimate in September 2024. Despite the progress, the company remains in pre-revenue status and relies heavily on external financing for ongoing operations. The recent name change from Premium Nickel Resources Ltd. to Premium Resources Ltd. reflects a strategic shift, with a focus on nickel-copper-cobalt resources. Future operations hinge on successful fundraising and exploration outcomes, with potential uncertainties tied to global metal prices and operational execution.