Financial Performance - For Q1 2024, Sunshine Oilsands Ltd. reported a net loss attributable to shareholders of approximately CAD 22.14 million, compared to a net loss of CAD 11.57 million in Q1 2023, representing an increase in loss of 91.5% year-over-year[3]. - The company reported a net loss of CAD 22,217,000 for the three months ended March 31, 2024, compared to a net loss of CAD 11,650,000 for the same period in 2023, representing an increase in losses[14]. - The basic and diluted loss per share for Q1 2024 was CAD 0.09, compared to CAD 0.05 in Q1 2023, reflecting a 80.0% increase in loss per share[9]. - The company reported a net loss attributable to shareholders of approximately $22,144,000 for the three months ended March 31, 2024, compared to a loss of $11,575,000 in the same period of 2023[69]. - The total expenses for Q1 2024 were CAD 21.64 million, compared to CAD 19.99 million in Q1 2023, indicating an increase of 8.2%[9]. Revenue and Sales - The company reported total revenue of CAD 11.19 million from oil sales in Q1 2024, a significant increase from CAD 7.18 million in Q1 2023, representing a growth of 55.5%[9]. - Oil sales revenue for the three months ended March 31, 2024, was $11,437,000, a significant increase from $7,192,000 for the same period in 2023, representing a growth of approximately 58.5%[59]. - Customer contract revenue for the same period was $11,192,000, compared to $7,179,000 in 2023, indicating a year-over-year increase of about 55.5%[59]. - Average diluted oil sands sales increased to 1,665.4 barrels per day in Q1 2024, up from 1,233.8 barrels per day in Q1 2023, reflecting a growth of 35.0%[3]. Assets and Liabilities - Total assets as of March 31, 2024, were CAD 745.96 million, slightly up from CAD 745.93 million as of December 31, 2023[7]. - Current liabilities increased to CAD 90.74 million as of March 31, 2024, compared to CAD 85.41 million as of December 31, 2023, marking an increase of 6.9%[7]. - The company’s equity attributable to shareholders decreased to CAD 68.83 million as of March 31, 2024, down from CAD 91.05 million as of December 31, 2023, a decline of 24.5%[7]. - The company’s total liabilities increased to CAD 1,245,000,000 as of March 31, 2024, compared to CAD 1,294,508,000 as of December 31, 2023, indicating a reduction in overall debt[11]. - The company’s total liabilities as of March 31, 2024, are CAD 666,849,000, compared to CAD 645,029,000 in 2023, indicating an increase of approximately 3.5%[96]. Cash Flow and Financing - The net cash used in operating activities for the three months ended March 31, 2024, is CAD (916,000), compared to CAD (3,062,000) for the same period in 2023, indicating an improvement in cash flow[14]. - The cash balance at the end of the period is CAD 388,000, a decrease from CAD 63,000 at the end of the previous period, indicating a decline in liquidity[14]. - The company incurred financing costs of CAD 2,740,000 for the three months ended March 31, 2024, compared to CAD 2,536,000 for the same period in 2023, reflecting an increase in financing expenses[14]. - The company has a total cash outflow related to financial liabilities of $622,871,000, with $90,174,000 due within one year[79]. - The company is actively monitoring its financing requirements and discussing refinancing options with existing shareholders and creditors[21]. Operational Strategies - Sunshine Oilsands Ltd. continues to focus on operational efficiency and cost management strategies to navigate the challenging market environment[3]. - The company continues to assess and develop oil sands resources in Alberta, Canada, with ongoing projects in the Athabasca oil sands region[16]. - The management's ability to maintain ongoing operations is contingent upon achieving forecasted revenues and obtaining additional financing[20]. - The group has significant control and flexibility over the timing and scope of capital and operating expenditures based on its 2024 budget[20]. Shareholder and Equity Information - The company’s issued and fully paid share capital remained unchanged at 243,478,681 shares, with a total value of $1,315,265 USD as of March 31, 2024[53]. - Shareholders' equity decreased to $68,830,000 as of March 31, 2024, compared to $91,047,000 as of December 31, 2023[72]. - Revenue from customer A contributed 63.2% of total group revenue as of March 31, 2024, down from 88.6% in the previous year[64]. Legal and Compliance Matters - The company has appealed a judgment requiring payment of approximately $19,694,000 due on December 13, 2023, with the appeal expected to take place in July 2024[87]. - The company is required to pay approximately $15,481,000 in principal and interest to non-deferring holders based on a judgment from the New York State Court[87]. Miscellaneous - The company has established a wholly-owned subsidiary in Hong Kong, Sunshine Oil Sands (Hong Kong) Limited, to seek new investment opportunities[88]. - The company has not engaged in any purchases, sales, or redemptions of its securities during the first quarter of 2024[54].
阳光油砂(02012) - 2024 Q1 - 季度业绩