Liberty Star Uranium & Metals Corp. Reports $2.1 Million Net Income Turnaround for Fiscal Year Ending January 31, 2025

Liberty Star Uranium & Metals Corp. reported a significant turnaround in its financial performance for the fiscal year ending January 31, 2025, achieving a net income of $2.1 million compared to a net loss of $4.1 million in the previous fiscal year. This improvement, amounting to a $6.2 million increase, was primarily driven by a substantial gain on the change in fair value of derivative liabilities. The company did not generate any revenue during this period, maintaining its focus on exploration activities.

The company's total assets decreased to $49,955 from $104,099 year-over-year, largely due to a reduction in cash and cash equivalents, which fell to $20,962 from $72,099. Liberty Star's working capital deficit also improved, decreasing from $3.1 million to $1.7 million. The company reported cash inflows from financing activities of approximately $968,782, indicating ongoing reliance on external funding to support its exploration initiatives.

Liberty Star has been actively engaged in exploration activities at its Hay Mountain Property, where it holds 35 Arizona State Mineral Exploration Permits covering 12,878.18 acres. The company has initiated a phased exploration plan, including diamond drilling, to assess the viability of mineral deposits, particularly copper and gold. Recent drilling results indicated the presence of alteration and mineralization associated with a copper porphyry system, although further drilling is required to fully understand the scope of the mineralization.

In terms of organizational changes, the company saw the resignation of its CEO, Brett Gross, in September 2023, with Patricia Madaris stepping in as the interim CEO. The company has also expanded its financing activities, including the issuance of common stock and convertible promissory notes, to support its exploration efforts. As of January 31, 2025, Liberty Star had a total of 59,751,467 shares of common stock outstanding, with a market price of $0.10 per share.

Looking ahead, Liberty Star acknowledges the need for additional funding to continue its exploration programs and maintain its mineral claims. The company has expressed its intention to secure financing through equity offerings and joint ventures, although it faces substantial doubt regarding its ability to continue as a going concern without such funding. The management remains focused on advancing its exploration projects while navigating the challenges of the current market environment.