Financial Performance - The company reported a comprehensive income of CAD 17.13 million for the three months ended September 30, 2025, compared to CAD 3.65 million for the same period in 2024, an increase of 369.5%[3] - Loss from operations for the nine months ended September 30, 2025, was CAD 286,207, a significant improvement from a loss of CAD 5.38 million in the same period of 2024[3] - For the nine months ended September 30, 2025, the company recorded a loss of CAD 6,629,986, while for the same period in 2024, the loss was CAD 3,506,221[8] - The company recognized a deferred tax recovery of CAD 4,131,951 for the three months ended September 30, 2025, compared to a deferred tax expense of CAD 1,607,555 for the same period in 2024[101] Assets and Liabilities - Total assets increased to CAD 430.55 million as of September 30, 2025, up from CAD 340.84 million at December 31, 2024, representing a growth of 26.3%[2] - Total liabilities decreased to CAD 18.38 million from CAD 37.67 million, a reduction of 51.2%[2] - The company reported a total equity of CAD 412.17 million, up from CAD 303.16 million, representing a growth of 36.0%[2] - Current assets in Canada increased to CAD 132,417,462 from CAD 59,282,638, reflecting a growth of approximately 123.5%[145] Cash and Cash Equivalents - Cash and cash equivalents rose significantly to CAD 72.16 million, compared to CAD 21.29 million at the end of 2024, marking an increase of 238.5%[2] - IsoEnergy's cash and cash equivalents at the end of the period were CAD 72,158,305, a decrease from CAD 35,755,245 at the end of the previous year[8] Share Capital and Financing - Share capital increased to CAD 458.80 million as of September 30, 2025, up from CAD 362.94 million at the end of 2024, an increase of 26.4%[2] - The company issued 1,333,825 shares in flow-through share financing, raising CAD 20,007,375[8] - The company issued 5,121,500 common shares at a price of $10.00 per share for gross proceeds of $51,215,000 in a bought deal financing[108] - The company issued 1,333,825 flow-through common shares at a price of $15.00 per share for gross proceeds of $20,007,375 on February 28, 2025[108] Exploration and Evaluation Assets - Exploration and evaluation assets increased to CAD 277.59 million, up from CAD 262.29 million, reflecting a growth of 5.8%[2] - IsoEnergy's exploration and evaluation asset additions totaled CAD 18,051,751 for the nine months ended September 30, 2025[8] - The acquisition costs for exploration and evaluation assets decreased to CAD 193,507,650 as of September 30, 2025, from CAD 197,635,680 at the end of 2024[67] Marketable Securities and Investments - The company recorded a fair value gain on marketable securities of CAD 14.79 million for the three months ended September 30, 2025[3] - As of September 30, 2025, the carrying value of marketable securities was CAD 57,377,568, consisting of various common shares and warrants[50] - The company received CAD 1,060,000 in common shares of Purepoint Uranium in exchange for 10% of its interest in the Purepoint Joint Venture during the nine months ended September 30, 2025[148] Operational Expenditures - For the three months ended September 30, 2025, total general and administrative expenditure was CAD 4,365,905, compared to CAD 4,827,239 for the same period in 2024, indicating a decrease of approximately 9.6%[146] - Share-based compensation for the nine months ended September 30, 2025, was CAD 5,190,658, up from CAD 4,234,813 in the same period of 2024, representing an increase of approximately 22.6%[146] Joint Ventures and Acquisitions - The Company holds a 50% interest in a joint venture with Purepoint Uranium, which includes a portfolio of exploration and evaluation assets in Saskatchewan[18] - The Company has proposed to acquire Toro Energy Limited, which owns 100% of the Wiluna uranium project in Australia[45] - Under the acquisition terms, Toro Energy shareholders will receive 0.036 of an IsoEnergy common share for each Toro Energy share[46] Debt and Interest Expenses - IsoEnergy entered into an agreement for a US$6 million private placement of unsecured convertible debentures with a coupon of 8.5% per annum[77] - IsoEnergy incurred interest expense of CAD 30,357 and CAD 238,297 on the 2020 Debentures for the three and nine months ended September 30, 2025, respectively[80] - The fair value of the 2020 Debentures decreased by CAD 1,284,998 during the nine months ended September 30, 2025[90] Environmental and Retirement Obligations - Environmental bonds posted increased to CAD 3,078,221 as of September 30, 2025, from CAD 2,725,220 at the end of 2024[74] - The estimated undiscounted amount of asset retirement obligations as of September 30, 2025, is CAD 2,460,092, up from CAD 2,369,440 at the end of 2024[75] Foreign Exchange and Risk Management - The Company is exposed to foreign exchange risk, with a 5% change in the Australian dollar potentially impacting financial results by CAD 115,967[141] - A 5% change in the US dollar exchange rate could result in a net increase or decrease of CAD 527,586 in the Company's US dollar-based financial instruments[139]
IsoEnergy Ltd(ISOU) - 2025 Q3 - Quarterly Report