Grounded Lithium Corp. reports developments tied to its lithium brine exploration and development business in Southwest Saskatchewan and its OTC-traded shares under GRDAF. Company updates commonly cover the Kindersley Lithium Project, technical work on the Duperow Formation, direct lithium extraction evaluation, pre-feasibility study work, and collaboration with Denison Mines Corp.
News also includes quarterly and year-end financial results, working-capital and capital-expenditure disclosures, shareholder meeting matters, stock option grants, and the company's resource diversification into Saskatchewan oil and gas operations. These releases connect project spending, brine-processing studies, and oil-and-gas cash-flow initiatives to Grounded Lithium's broader development plans.
Grounded Lithium Corp. (OTCQB: GRDAF) reported its financial and operating results for Q1 2024. Key highlights include a net comprehensive loss of CAD 507,607, a significant improvement from the CAD 1,682,288 loss reported in Q1 2023. The company also announced entering into agreements with Denison Mines Corp., which are expected to fund a field pilot for the KLP project. Operating cash flow used was CAD 411,756, down from CAD 1,730,836 in the same period last year. Capital expenditures saw a disposition of CAD 800,000. The company's working capital surplus was CAD 303,222, down from CAD 890,061 a year earlier. Shares outstanding increased to 78,279,227 from 69,656,423. Further details can be found in their financial statements and management's discussion on their website or sedarplus.ca.
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