Fri, Jul 12, 8:07 PM (57 days ago)
Premium Nickel Resources Ltd. (PNRL) reported a net loss of $9.3 million for Q1 2024, compared to $6.4 million in Q1 2023, primarily due to increased exploration expenses and interest costs. Cash and cash equivalents decreased to $9.4 million from $19.2 million at year-end 2023. The company's working capital stands at $6.8 million. Key liabilities include a term loan of $18.2 million and lease liabilities of $1.3 million. PNRL's exploration focus remains on the Selebi Mines and Selkirk Mine in Botswana, with significant ongoing drilling and assay activities. The company anticipates additional funding needs to continue its operations and exploration activities.