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THUNDER BAY - Clean Air Metals Inc . (TSXV:AIR) reported total assets of $37.5 million and cash holdings of $2.47 million for the three-month period ended April 30, 2025, according to the company’s recently filed interim financial statements.
The critical minerals developer, focused on its wholly-owned Thunder Bay North project in Ontario, reported a working capital deficiency of $527,130 and shareholders’ equity of $33.67 million as of April 30.
The company’s net loss for the quarter narrowed to $223,641, compared to $863,264 in the same period last year, while operating expenses decreased to $352,569 from $863,264 year-over-year.
During the quarter, Clean Air Metals invested $584,284 in exploration activities at its Thunder Bay North project, conducting drilling and follow-up geophysics at the Current Deposit. The company stated these activities were aimed at expanding high-grade zones in the Lower Current and Bridge areas to support development of a revised mine plan.
The Thunder Bay North project hosts two deposits containing 13.8 million tonnes of indicated mineral resources with 2.4 million platinum equivalent ounces, according to a June 2023 technical report cited in the press release.
Located 40 kilometers northeast of Thunder Bay, the project is one of the few primary platinum resources outside South Africa, according to the company.
The financial information was disclosed in Clean Air Metals’ unaudited consolidated interim financial statements and management’s discussion and analysis for the quarter ended April 30, 2025.
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