Paramount Gold Nevada Corp. Reports Increased Net Loss of $2.03 Million for December 2024 Quarter

Paramount Gold Nevada Corp. reported a net loss of $2.03 million for the three months ended December 31, 2024, an increase of 29% compared to a net loss of $1.57 million in the same period of the previous year. For the six months ended December 31, 2024, the company recorded a net loss of $3.60 million, a slight decrease from $3.65 million in the prior year. The increase in quarterly losses was attributed to higher exploration expenses, which rose by 24% to $377,112, driven by ongoing permitting activities at the Grassy Mountain project. In contrast, reclamation expenses saw a significant decrease of 99% to $16,420, as the company completed a one-time conversion of historical mining collection ponds in the previous fiscal year.

Total assets for Paramount Gold Nevada Corp. decreased to $53.86 million as of December 31, 2024, down from $56.36 million at the end of June 2024. Current assets also fell to $4.19 million, primarily due to a reduction in cash and cash equivalents, which stood at $3.41 million compared to $5.42 million six months prior. The company's total liabilities increased slightly to $18.32 million, with current liabilities decreasing significantly from $683,806 to $468,108, reflecting improved management of accounts payable and accrued liabilities.

In terms of strategic developments, Paramount Gold Nevada Corp. has been actively engaged in permitting activities for its Grassy Mountain project, which received approval from the State of Oregon's Technical Review Team for its Environmental Evaluation. This approval marks a significant step forward in the project’s development, initiating a 225-day period for drafting permits. The company continues to rely on equity financing and debt arrangements to fund its operations, with cash provided by financing activities amounting to $104,228 during the six months ended December 31, 2024.

Operationally, the company has maintained a focus on its mineral properties in Nevada and Oregon, with total capitalized mineral properties valued at $49.12 million as of December 31, 2024. Paramount's employee headcount has remained stable, with ongoing costs related to salaries and benefits increasing by 6% to $569,191 for the six months ended December 31, 2024. The company anticipates continued losses as it progresses with its exploration and development plans, particularly at the Grassy Mountain project, where it expects to incur approximately $1.95 million in state and federal permitting activities over the next twelve months.

Looking ahead, Paramount Gold Nevada Corp. has expressed concerns regarding its ability to continue as a going concern, given its reliance on external financing to support its operations. The company plans to utilize existing cash reserves, an at-the-market equity offering program, and potential insurance proceeds to fund its reclamation obligations. However, it acknowledges the uncertainty surrounding future financing and the potential impact on its exploration and development activities.