Lion Copper and Gold Corp. Reports $4 Million Net Loss for First Half of 2025

Lion Copper and Gold Corp. reported a net loss of $4 million for the six months ended June 30, 2025, compared to a loss of $3.6 million during the same period in 2024. The company's operating loss for the first half of 2025 was $2.1 million, slightly higher than the $1.9 million loss recorded in the previous year. The increase in losses is attributed to higher exploration and evaluation expenses, which totaled $2.2 million for the first half of 2025, down from $5 million in the same period of 2024. The company’s cash and cash equivalents decreased to $3.6 million as of June 30, 2025, from $8.3 million at the end of the previous year.

In terms of operational developments, Lion Copper and Gold has made significant progress in its exploration activities, particularly at its Yerington Copper Project in Nevada. The company successfully negotiated a settlement agreement to reinstate 3,452.8 acre-feet of previously forfeited water rights, which are essential for the project's development. Additionally, the company announced the completion of a Pre-Feasibility Study (PFS) for the Yerington Copper Project, which demonstrated a post-tax net present value of $694 million and an internal rate of return of 14.6%. The PFS estimates an average annual production of 120 million pounds of refined copper cathode over a 12-year mine life.

Strategically, Lion Copper and Gold has been advancing its partnership with Nuton LLC, a venture of Rio Tinto, under an option agreement that allows Nuton to earn a 65% interest in the company's mining assets through staged investments. As of June 30, 2025, Nuton LLC had provided a total of $28 million in funding, with $19 million earmarked for a comprehensive feasibility study. The company is currently awaiting Nuton’s decision on whether to proceed to the next stage of the agreement, which could significantly impact its future funding and operational capabilities.

The company’s employee headcount has remained stable, with no significant changes reported in staffing levels. However, the financial outlook remains uncertain, as Lion Copper and Gold has no current source of revenue and relies heavily on external funding to maintain its operations. The company has indicated that if Nuton LLC decides not to proceed with further funding, it may need to seek alternative financing options to continue its exploration and development activities. This situation presents a material uncertainty regarding the company's ability to continue as a going concern, as highlighted in its financial statements.