Mon, Jul 15, 8:30 PM (54 days ago)
Texas Mineral Resources Corp. reported a significant reduction in net loss for the quarter ended May 31, 2024, compared to the same period in 2023. The company's net loss for the nine months was $617,000, a substantial improvement from the $2,193,000 loss in the prior year. This improvement was primarily driven by a decrease in exploration and general administrative expenses. The company's cash position decreased to $594,000 from $1,079,000. Texas Mineral Resources Corp. continues to face liquidity challenges, with a working capital surplus of $594,000 and no immediate revenue generation expected. The company is considering dilution of its ownership in Round Top Mountain Development, LLC to manage cash flow. Future operations are uncertain and depend on successful capital raising efforts.