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Paramount Gold Nevada Corp. (NYSE American:PZG), a mining company with a market capitalization of $42.87 million, disclosed a change in its certifying accountant as a result of a merger between its previous accounting firm, Moss Adams LLP, and Baker Tilly US, LLP. The transition, effective as of June 3, 2025, was communicated to the company on Monday. According to InvestingPro, the company maintains a FAIR financial health score of 2.43, despite current profitability challenges.
The merger led to Moss Adams’ resignation, and the company’s Audit Committee has since approved Baker Tilly as the new independent registered public accounting firm. Moss Adams had provided audit services for Paramount Gold Nevada for the fiscal years ending June 30, 2024, and June 30, 2023. The audit reports for these periods did not contain any adverse opinion or disclaimer, but they did include an explanatory paragraph regarding the company’s ability to continue as a going concern. This concern aligns with the company’s negative EBITDA of $6.17 million, though InvestingPro data shows a strong current ratio of 4.3, indicating sufficient liquid assets to meet short-term obligations.
During the tenure of Moss Adams, there were no disagreements on accounting principles or practices, financial statement disclosure, or auditing scope or procedure that would have required mention in their reports. Additionally, there were no reportable events as defined by SEC regulations.
Prior to the merger, Paramount Gold Nevada had not consulted Baker Tilly on any accounting or auditing matters that would necessitate disclosure under SEC regulations. In accordance with SEC rules, Moss Adams has provided a letter, dated June 10, 2025, to the SEC, stating whether it agrees with the statements made by Paramount Gold Nevada in the 8-K filing. This letter is included as Exhibit 16.1 in the Form 8-K.
The information in this article is based on a press release statement.
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