Liberty Gold (LGD) Q3 2024 earnings summary

Executive summary

• Closed sale of TV Tower project in Türkiye, receiving $3.7 million as the first of three staged payments, with additional payments due in 2025 and 2026.

• Published 2023 Environmental, Social and Governance disclosure update.

• Advanced Black Pine project in Idaho with a positive preliminary feasibility study, new mineral reserve, and expanded project area.

• Commenced a 20,000-metre drill program and initiated mine permitting at Black Pine.

• Identified a high-grade antimony system at Goldstrike in Utah.

Financial highlights

• Net loss attributable to shareholders was $5.75 million for the nine months ended September 30, 2024, compared to $5.43 million in the prior year.

• Net loss for the three months ended September 30, 2024, was $12.62 million, compared to $15.54 million in the same quarter last year.

• Basic and diluted loss per share from continuing operations was $(0.01) for the nine months and $(0.03) for the quarter.

• Cash and short-term investments totaled $9.28 million as of September 30, 2024.

• Working capital (excluding assets held for sale) was $6.70 million at quarter-end.

Outlook and guidance

• Anticipates staged payments from the TV Tower sale in 2025 and 2026.

• Plans continued exploration and development at Black Pine, including further drilling and permitting activities.

• Expects ongoing de-risking activities and expenditures at mineral properties.