Full press release: Grounded Lithium Reports First Quarter 2025 Financial and Operating Results
CALGARY, AB, May 27, 2025 /PRNewswire/ - (TSXV: GRD) (OTCQB: GRDAF) - Grounded Lithium Corp. ("GLC" or the "Company") announces our financial and operating results for the three-month period ended March 31, 2025. Selected financial and operational information is set out below and should be read in conjunction with the Company's March 31, 2025 financial statements and the related management's discussion and analysis, which are available for review at www.sedarplus.ca or the Company's website at www.groundedlithium.com.
First Quarter 2025 Financial and Operational Highlights
- The Company, together with its strategic partner Denison Mines Corp. ("Denison"), completed a field drill program at the Kindersley Lithium Project's ("KLP") original 4-15-33-23W3 well, successfully re-entering and extending the well achieving several defined objectives. Further, as part of the pre-feasibility study ("PFS") preparation, the Company and Denison commenced extensive metallurgical testing and a depletion modeling exercise. These efforts provide a deliberate, planned and methodical approach to further refine the commercial confidence level in the pending independently authored PFS by Stantec Inc. planned for completion mid 2025.
Financial Results
| (CAD$, except per share amounts and common shares outstanding) | |
| | | | |
| | | Three Months Ended March 31, |
| | | 2025 | 2024 |
| FINANCIAL RESULTS | | | |
| Net comprehensive income (loss) | | 30,392 | (507,607) |
| Per share - basic and diluted | | - | (0.01) |
| | | | |
| Cash flow from (used in) operating activities | 43,063 | (411,756) |
| Per share - basic and diluted | | - | (0.01) |
| | | | |
| Funds flow from (used in) operations | | 60,186 | (467,640) |
| Per share - basic and diluted | | - | (0.01) |
| | | | |
| Capital expenditures | | | |
| Capital expenditures (dispositions) | | - | (800,000) |
| | | | |
| Liquidity | | | |
| Working capital surplus | | 175,083 | 303,222 |
| | | | |
| Common shares outstanding | | | |
| Weighted average - basic and diluted | | 78,371,294 | 77,126,290 |
| Outstanding, end of period | | 79,660,227 | 78,279,227 |
About Grounded Lithium Corp.
GLC is a publicly traded lithium brine exploration and development company that controls approximately 1.0 million metric tonnes of Measured & Indicated lithium carbonate equivalent mineral resource and approximately 3.2 million metric tonnes of Inferred lithium carbonate equivalent resource over our focused land holdings in Southwest Saskatchewan as per the Company's updated PEA. The updated PEA, titled "NI 43-101 Technical Report: Preliminary Economic Assessment Kindersley Lithium Project – Phase 1 Update" dated November 7, 2023 and effective as of June 30, 2023, reports a Phase 1 NPV8 after-tax of US$1.0 billion with an after-tax IRR of 48.5%. GLC's multi-faceted business model involves the consolidation, delineation, exploitation and ultimately development of our opportunity base to fulfill our vision to build a best-in-class, environmentally responsible, Canadian lithium producer supporting the global energy transition shift. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on https://www.otcmarkets.com/.
Qualified Person
Scientific and technical information contained in this press release has been prepared under the supervision of Doug Ashton, P.Eng., Alexey Romanov, P. Geo., Meghan Klein, P. Eng., Dean Quirk, P.Eng., Jeffrey Weiss, P.Eng., Chad Hitchings., P.L. Eng., and Michael Munteanu, P.Eng., each of whom is a qualified person within the meaning of NI 43-101.