Western Copper and Gold(US:WRN)2025-11-06 23:10Financial Position - As of September 30, 2025, the company's total assets amounted to CAD 198.29 million, a slight increase from CAD 192.79 million at the end of 2024[2] - The company's total shareholders' equity as of September 30, 2025, was CAD 192.81 million, an increase from CAD 189.61 million at the end of 2024[2] - The company had short-term investments of CAD 44,312,122 as of September 30, 2025, a decrease from CAD 52,500,000 as of December 31, 2024[18] - The company held marketable securities with a fair value of CAD 725,670 as of September 30, 2025, down from CAD 1,079,200 as of December 31, 2024[19] Cash Flow and Liquidity - The company's cash and cash equivalents decreased to CAD 10.40 million from CAD 14.20 million at the end of 2024, representing a decline of approximately 26.5%[2] - Cash flows used in operating activities for the nine months ended September 30, 2025, were CAD 2.46 million, compared to CAD 3.75 million in 2024, showing an improvement of 34.4%[4] - The Company monitors its cash position regularly to ensure sufficient funds for short-term and long-term objectives[49] - The Company is exposed to liquidity risk but uses cash forecasts to manage this risk effectively[52] Operational Performance - For the nine months ended September 30, 2025, the loss and comprehensive loss was CAD 2.16 million, a reduction of 59.5% compared to CAD 5.33 million for the same period in 2024[3] - The company's corporate expenses for the nine months ended September 30, 2025, were CAD 5.99 million, down from CAD 7.41 million in 2024, indicating a decrease of approximately 19.3%[3] - The company reported a basic and diluted loss per share of CAD 0.01 for the nine months ended September 30, 2025, compared to CAD 0.03 in 2024[3] Capital Raising and Expenditures - The company raised CAD 1.86 million from the exercise of stock options during the nine months ended September 30, 2025[4] - The company completed a private placement with Rio Tinto on May 6, 2024, raising gross proceeds of CAD 4,958,791 by issuing 2,609,890 common shares at CAD 1.90 each[23] - The company recognized key management compensation of CAD 1,090,188 for the three months ended September 30, 2025, compared to CAD 1,266,687 for the same period in 2024[41] - The company granted 481,225 stock options during the nine months ended September 30, 2025, compared to 4,742,000 stock options granted in the same period of 2024[32] - The company recognized an expense of CAD 231,824 for restricted share units (RSUs) for the three months ended September 30, 2025, compared to CAD 215,210 for the same period in 2024[36] - The company has the potential to issue an additional 4,427,078 RSUs under the RSU Plan as of September 30, 2025[33] Project Development - The company has successfully raised sufficient capital to fund its operations but will need additional funds for the development and construction of the Casino Project[7] - The Company paid consulting fees of $33,369 related to the Casino Project during the three and nine months ended September 30, 2025, with no such fees incurred in 2024[44] Risk Management - The Company has no debt and does not pay dividends, with no changes in its capital management approach during the period[50] - The Company has established credit policies to minimize credit risk, primarily holding cash and cash equivalents with high-quality financial institutions[53] - A 10% fluctuation in the value of publicly traded marketable securities would have a minimal impact on the Company's loss and comprehensive loss[54] - The Company is not subject to interest rate risk due to the short-term nature of its financial assets and liabilities[56]