THIRD QUARTER OF 2023 AND RECENT HIGHLIGHTS
- On
September 15, 2023 , closed a non-brokered private placement raising proceeds of$5.7 million , anchored by a$5.0 million strategic investment by Wheaton Precious Metals Corp. (“Wheaton”)1. - On
September 5, 2023 , published second annual ESG report: Developing Gold Deposits in a Responsible and Sustainable Manner2. - On
November 8, 2023 , announced the appointment ofCal Everett as CEO andJon Gilligan as President, effectiveNovember 10, 2023 3.
At the Black Pine project (“Black Pine”), we:
- Announced on
September 11, 2023 the purchase of the existing 0.5%Net Smelter Royalty (“NSR”) at Black Pine, and the sale of a new 0.5% NSR to an affiliate of Wheaton which includes an option to reduce the NSR to 0.25% in the future1. - On
September 6, 2023 , announced the submission of a Mining Pre-Plan of Operations to US Federal Agencies, and the selection ofM3 Consulting Ltd. as lead engineer for the pre-feasibility study (“PFS”)4. - Published reverse circulation (“RC”) exploration drill results from:
Discovery Zone : - 0.77 grams per tonne (“g/t”) gold (“Au”) over 65.5 meters (“m”) including 2.47 g/t Au over 10.7 m in
LBP932 7.Back Range Zone : - 3.40 g/t Au over 32.0 m, including 6.74g/t Au over 9.1 m
LBP945 5. - 1.41 g/t Au over 22.9 m, including 4.28 g/t Au over 6.1 m
LBP943 5. - 1.41 g/t Au over 30.5 m including 1.83 g/t Au over 13.7 m in
LBP926 7.Rangefront Zone : - 0.61 g/t Au over 76.2 m, including 2.47 g/t Au over 12.2 m in
LBP941 6. - 0.45 g/t Au over 73.2 m, including 1.50 g/t Au over 3.0 m in
LBP954 6.CD-Tallman Zone : - 0.86 g/t Au over 25.9 m including 1.80 g/t Au over 6.1 m in
LBP920 7. - Completed 2023 RC exploration drilling program as of
September 30, 2023 , for a total of 27,461 meters drilled.
SELECTED FINANCIAL DATA
The following selected financial data is derived from our unaudited condensed interim consolidated financial statements and related notes thereto (the “Interim Financial Statements”) for the nine months ended
A copy of the Interim Financial Statements is available on the Company’s website at www.libertygold.ca or on SEDAR at www.sedar.com.
The information in the tables below is presented in $000s, except ‘per share’ data:
Three months ended | Nine months ended | ||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||
Attributable to shareholders: | |||||||||||||
Loss for the period | $ | 5,430 | $ | 6,347 | $ | 15,544 | $ | 14,531 | |||||
Loss and comprehensive loss for the period | $ | 5,485 | $ | 8,327 | $ | 15,443 | $ | 17,234 | |||||
Basic and diluted loss per share | $ | 0.02 | $ | 0.02 | $ | 0.05 | $ | 0.05 |
As at | As at | |||||
2023 | 2022 | |||||
Cash and short-term investments | $ | 11,609 | $ | 19,813 | ||
Working capital | $ | 9,852 | $ | 17,668 | ||
Total assets | $ | 39,994 | $ | 47,954 | ||
Current liabilities | $ | 2,340 | $ | 2,543 | ||
Non-current liabilities | $ | 2,775 | $ | 2,812 | ||
Shareholders’ equity | $ | 31,431 | $ | 38,949 |
ABOUT
For more information, visit libertygold.ca or contact:
Phone: 604-632-4677 or Toll Free 1-877-632-4677
info@libertygold.ca
This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws, including statements or information concerning, future financial or operating performance of
Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, timing or results of the publication of any mineral resources, PEA or pre-feasibility study, the availability of drill rigs, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of
Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; the timing or results of the publication of any mineral resources,PEAs or pre-feasibility studies; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry;delays in obtaining governmental approvals, financing or in the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2023, in the section entitled "Risk Factors", under Liberty Gold’s SEDAR profile at www.sedar.com.
Although
1 See press release dated
2 See press release dated
3 See press release dated
4 See press release dated
5 See press release dated
6 See press release dated
7 See press release dated
Source:
2023 GlobeNewswire, Inc., source