Clean Air Metals Inc (TSX-V:AIR, OTCQB:CLRMF) has filed its financial statements for the fiscal half-year ended July 31, the company announced, including a narrowing loss year-over-year.
The company posted a net loss of $746,643, down from $794,601 in the same period of 2021. Total assets as of July 31, were more than $42.6 million, total cash was over $3.1 million and working capital was over $2.2 million.
Earlier this year, the company closed a private placement that generated gross proceeds of about $12.5 million.
READ: Clean Air Metals announces new assay results for Escape and Current deposits at Thunder Bay North Project
Also this year, Clean Air Metals completed the second to last project payment of C$1.5 million to Panoramic Resources Ltd (ASX:PAN). The final project payment of the same amount is due in May 23.
That payment is also the final vesting condition in the company’s option agreement with Benton Resources Inc, which will earn Clean Air Metals a 100% interest in the Thunder Bay North Critical Minerals project. The final property payment may be accelerated at any time, the company noted.
The company also previously launched a prefeasability study on the Thunder Bay North critical minerals project, with metallurgical optimization led by DRA Americas.
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