Patriot Battery Metals Inc. (ASX: $PMT) Financial Report Overview

Patriot Battery Metals Inc. (PMT) has released its unaudited condensed interim consolidated financial statements for the three-month period ended June 30, 2024. The company's principal business involves the identification, evaluation, and acquisition of exploration and evaluation assets, as well as the exploration of those properties once acquired. PMT operates in Canada and is a reporting issuer in all provinces of Canada. The company's mineral properties are located in Quebec, British Columbia, the Northwest Territories, and the State of Idaho (USA). PMT's shares are listed on the TSXV, ASX, and OTC Market in the United States.

Management's Responsibility and Financial Performance

The management and Board of Directors are responsible for the preparation of the financial statements in accordance with accounting policies and International Financial Reporting Standards. The company incurred losses during the three-month period ended June 30, 2024. It also announced the renaming of the Corvette Property to the Shaakichiuwaanaan Property.

Outlook and Financial Position

Patriot Battery Metals Inc. (PMT) reported significant investments in its Shaakichiuwaanaan Property, including acquisition costs, exploration and evaluation activities, and property and equipment. The company emphasized its reliance on equity issuances to fund its operations and detailed its financial position, liquidity, and capital resources. The outlook for the financial year ending March 31, 2025, includes the publication of a Preliminary Economic Assessment - Scoping Study, commencement of a Feasibility Study, and the publication of the company's first Sustainable Development Report. The Consolidated Mineral Resource Estimate reaffirms the Shaakichiuwaanaan Project as a Tier I, world-class lithium pegmatite asset and highlights the considerable potential for resource growth through continued drill exploration at the Shaakichiuwaanaan Property.