LEADING EDGE MATERIALS REPORTS QUARTERLY RESULTS TO APRIL 30, 2025
- Company maintains production-ready status for Woxna Graphite Mine with potential for high-quality flake graphite concentrate production
- Development of Rapid Development Plan for Norra Kärr to enable earliest possible HREE production
- Encouraging exploration results at Bihor Sud project showing potential for significant polymetallic discovery
- Maintains working capital of $1,191,514 with sufficient funding for corporate administration
- Net loss increased to $1,179,168 in Q2 2025 from $669,216 in Q1 2025
- Additional capital needed for Woxna Graphite restart and Norra Kärr development
- Norra Kärr project was not included in EU's first list of Strategic Projects under CRMA
- Accumulated deficit of $51,201,042 as of April 30, 2025
LEADING EDGE MATERIALS REPORTS QUARTERLY RESULTS TO APRIL 30, 2025
Vancouver, June 20, 2025 – Leading Edge Materials Corp. (“Leading Edge Materials” or the “Company”) (TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) (FRA: 7FL) announces results for the fiscal period ending April 30, 2025. All references to dollar amounts in this release are in Canadian dollars.
Highlights During and After the Quarter
During the three months ended April 30, 2025:
• On February 9, 2025, the Company provided an update on a Rapid Development Plan (“RDP”) for Norra Kärr, to be in production in the shortest possible timeframe, supplying HREE-rich eudialyte concentrate and industrial mineral nepheline syenite.
• The Company provided an update on the value creation options being considered for Woxna Graphite, on February 16, 2025, including a possible restart of operations, the production of high-quality flake graphite concentrate.
• On March 23, 2025, the Company provided a progress update on Norra Kärr, in the context of the European Commission’s (“EC”) Joint White Paper for European Readiness 2030, highlighting the increasing geopolitical competition over critical raw materials (“CRMs”) and the need for the EU and its member states to build strategic reserves of raw materials.
• On March 25, 2025, the EU announced its first list of Strategic Projects under the Critical Raw Materials Act (“CRMA”); Norra Kärr was not included. The Company stated its plan to reapply in the next round of applications.
• On April 23, 2025, the Company announced granting of stock options (the “Options”) to directors, officers and consultants of the Company to purchase an aggregate of 6,850,000 common shares (the “Optioned Shares”) of the Company, at exercise price of C
Results of Operations
Three Months Ended April 30, 2025, Compared to Three Months Ended January 31, 2025
During the three months ended April 30, 2025 (“Q2 2025”) the Company reported a net loss of
Three Months Ended April 30, 2025, Compared to Three Months Ended April 30, 2024
During the three months ended April 30, 2025 (“2025 period”), the Company reported a net loss of
Selected Financial Data
The following selected financial information is derived from the unaudited condensed consolidated interim financial statements of the Company prepared in accordance with IFRS.
| Fiscal 2025 | Fiscal 2024 | Fiscal 2023 | ||||||
| Three Months Ended | April 30, 2025 $ | January 31, 2025 $ | October 31, 2024 $ | July 31, 2024 $ | April 30, 2024 $ | January 31, 2024 $ | October 31, 2023 (Restated) $ | July 31, 2023 (Restated) $ |
| Operations | ||||||||
Expenses | (1,070,402) | (696,037) | (97,209) | (797,070) | (863,745) | (660,617) | (457,890) | (309,832) |
Other items | (108,766) | 26,821 | (222,820) | (25,168) | 4,216 | (25,311) | 195,209 | (8,442) |
| Comprehensive profit/(loss) | (1,179,168) | (669,216) | (320,029) | (822,238) | (859,529) | (685,928) | (262,681) | (318,274) |
| Basic Profit/(loss) per share | (0.01) | (0.00) | (0.00) | (0.00) | (0.01) | (0.00) | (0.00) | (0.00) |
| Diluted profit/(loss) per share | (0.01) | (0.00) | (0.00) | (0.00) | (0.01) | (0.00) | (0.00) | (0.00) |
| Financial Position | ||||||||
Working capital | 1,191,514 | 2,198,641 | 3,337,686 | 3,973,458 | 1,610,635 | 2,316,098 | 2,713,098 | 848,952 |
Total assets | 28,361,774 | 28,480,311 | 29,343,716 | 28,454,783 | 24,991,481 | 26,003,943 | 25,512,111 | 23,588,662 |
| Total non-current liabilities | (6,009,933) | (5,596,369) | (5,641,854) | (5,683,545) | (5,101,289) | (5,489,843) | (4,670,790) | (5,109,575) |
Financial Condition / Capital Resources
During the three months ended April 30, 2025, the Company recorded a net loss of
Outlook
Concerns about critical raw materials - security of supply, supply chain resilience and defence requirements – have been recurring themes at conferences attended by the Company in recent months, with HREEs and natural graphite frequently mentioned; geopolitical uncertainties continue, with more talk about the weaponization of global trade in rare earth elements.
On June 17, 2025, the G7 Critical Minerals Action Plan was announced focused on ‘diversifying the responsible production and supply of critical minerals, encouraging investments in critical mineral projects and local value creation, and promoting innovation’ in the G7, and with partners beyond, working together and ‘to swiftly protect our economic and national security’'. Against this backdrop and calls for more action to match the intent of the CRMA, the Company’s portfolio is well positioned.
Woxna Graphite Mine
The Company maintains the Woxna Graphite Mine in a production-ready state while minimizing holding costs. An internal study completed in early 2022 assessed the potential for restarting operations and upgrading the processing plant to produce high-quality flake graphite concentrate. Work is now underway to update this study, forming the basis of a business plan to support possible project financing, customer prepayments, and access to Swedish or EU public funding, and, in addition.
Highlighting Sweden’s role in CRMs and graphite’s importance, Sweden’s Energy, Business and Industry Minister Ebba Busch recently stated that “Sweden has unique opportunities to be and remain a strong player in global mineral politics. We have the most sustainable mining industry in the world – ethically sustainable, environmentally sustainable, and with good working conditions. The graphite that [Talga Group] is planning to produce is a key material in battery manufacturing and the green transition to a fossil-fuel-free society.”
Norra Kärr Heavy Rare Earth Element (“HREE”) Project
As part of its Pre-feasibility (“PFS”) workstreams, the Company is developing a Rapid Development Plan (“RDP”) for Norra Kärr to enable the earliest possible production of HREE-rich eudialyte concentrate and industrial mineral nepheline syenite. A phased, small-scale start is under consideration to allow early access to the deposit, initial sales of nepheline syenite, early cash flow, and stockpiling of eudialyte concentrate for future processing. This approach is designed to reduce both risk and environmental impacts.
Testwork has now been completed on nepheline syenite and aegirine to determine their mineralogy, chemical composition, and leachate chemistry. The promising results are being used to determine possible market segments and specifications that can be achieved, potential demand and pricing, to be included in an updated PFS economic model for Norra Kärr. The Company envisages the PFS will be completed in Q1 2026.
On 24 March 2025, the EU announced its first list of Strategic Projects under the Critical Raw Materials Act (CRMA); Norra Kärr was not included. The Company plans to reapply in the next round of applications having continued to make significant progress since the last application was submitted in August 2024.
In recent months, the Company’s application for a new Exploitation Concession (“Bearbetningskoncession”) 25-year mining lease has been out for consultation with County Administrative Boards (“CAB”) and municipalities. The Company understands that CAB opinions have been received by the Mining Inspectorate (“Bergsstaten”). The Company will have an opportunity to respond to opinions and comments.
Bihor Sud Nickel-Cobalt Exploration Project
Exploration activities at the Bihor Sud project have continued, supported by the hard work of the four new geologists who joined the team in January. Works have included underground mapping, diamond drilling, geophysics, core logging, and sampling. The Company’s goal remains to define a large-scale, mineable mineral resource; in gallery G2, targeting promising Zinc-Lead-Copper-Silver mineralization. Results to date are encouraging and underscore the project's strong potential for a significant polymetallic discovery.
Financial Information
The report for three months ending July 31, 2025, is expected to be published on or about September 19, 2025.
On behalf of the Board of Directors,
Leading Edge Materials Corp.
Kurt Budge, CEO
For further information, please contact the Company at:
info@leadingedgematerials.com
www.leadingedgematerials.com
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About Leading Edge Materials
Leading Edge Materials is a Canadian public company focused on developing a portfolio of critical raw material projects located in the European Union. Critical raw materials are determined as such by the European Union based on their economic importance and supply risk. They are directly linked to high growth technologies such as lithium-ion batteries and permanent magnets for electric motors, wind turbines and defense applications. The portfolio of projects includes the
Additional Information
The information was submitted for publication through the agency of the contact person set out above, on June 20, 2025, at 2:30 PM Vancouver time.
Leading Edge Materials is listed on the TSXV under the symbol “LEM”, OTCQB under the symbol “LEMIF” and Nasdaq First North Stockholm under the symbol “LEMSE”. Svensk Kapitalmarknadsgranskning (“SKMG”) is the Company’s Certified Adviser for the Nasdaq First North Growth Market (Stockholm) and may be contacted via email ca@skmg.se or by phone +46 (0)8 913 008.
Reader Advisory
This news release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, changes in the Company’s intended use of proceeds from the Private Placement, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.
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