Lion Copper & Gold Corp. Files Form 10-Q for Period Ending March 31, 2024
Ticker: LCGMF · Form: 10-Q · Filed: May 15, 2024 · CIK: 1339688
Sentiment: neutral
Topics: 10-Q, Lion Copper & Gold, Mining, Financial Report, Quarterly Filing
TL;DR
<b>Lion Copper & Gold Corp. filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing its financial status and business operations.</b>
AI Summary
LION COPPER & GOLD CORP. (LCGMF) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. Lion Copper & Gold Corp. filed a Form 10-Q for the quarterly period ended March 31, 2024. The company was formerly known as Quaterra Resources Inc. and changed its name on September 23, 2005. Key subsidiaries include Quaterra Alaska Inc. Member, Singatse Peak Services Member, BlueCopperResourcesCorp Member, and BlueCopperLlc Member. The filing references private placement activities occurring between March 1, 2024, and March 8, 2024. The company's business address and mailing address are located at C/O #1200-750 West Pender Street, Vancouver, A1, V6C 2T8.
Why It Matters
For investors and stakeholders tracking LION COPPER & GOLD CORP., this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational updates for Lion Copper & Gold Corp. for the first quarter of 2024. Understanding the details within this report is crucial for stakeholders to assess the company's current financial health, strategic direction, and potential risks in the metal mining sector.
Risk Assessment
Risk Level: medium — LION COPPER & GOLD CORP. shows moderate risk based on this filing. The company operates in the metal mining industry, which is subject to significant price volatility, regulatory changes, and operational risks, as indicated by the nature of its business and the filing of a 10-Q.
Analyst Insight
Review the detailed financial statements and management discussion within the 10-Q to understand the company's performance and outlook.
Key Numbers
- 2024-03-31 — Reporting Period End Date (CONFORMED PERIOD OF REPORT)
- 2024-05-15 — Filing Date (FILED AS OF DATE)
- 2023-01-01 — Prior Year Start Date (Prior Year Period)
- 2023-12-31 — Prior Year End Date (Prior Year Period)
Key Players & Entities
- LION COPPER & GOLD CORP. (company) — FILER
- QUATERRA RESOURCES INC (company) — FORMER COMPANY
- newsfilecorp.com (company) — Filed by
- RioTintoAmericaIncMember (company) — Subsidiary/Affiliation
- NutonLLCMember (company) — Subsidiary/Affiliation
- us-gaap:PrivatePlacementMember (regulator) — Transaction Type
FAQ
When did LION COPPER & GOLD CORP. file this 10-Q?
LION COPPER & GOLD CORP. filed this Quarterly Report (10-Q) with the SEC on May 15, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by LION COPPER & GOLD CORP. (LCGMF).
Where can I read the original 10-Q filing from LION COPPER & GOLD CORP.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by LION COPPER & GOLD CORP..
What are the key takeaways from LION COPPER & GOLD CORP.'s 10-Q?
LION COPPER & GOLD CORP. filed this 10-Q on May 15, 2024. Key takeaways: Lion Copper & Gold Corp. filed a Form 10-Q for the quarterly period ended March 31, 2024.. The company was formerly known as Quaterra Resources Inc. and changed its name on September 23, 2005.. Key subsidiaries include Quaterra Alaska Inc. Member, Singatse Peak Services Member, BlueCopperResourcesCorp Member, and BlueCopperLlc Member..
Is LION COPPER & GOLD CORP. a risky investment based on this filing?
Based on this 10-Q, LION COPPER & GOLD CORP. presents a moderate-risk profile. The company operates in the metal mining industry, which is subject to significant price volatility, regulatory changes, and operational risks, as indicated by the nature of its business and the filing of a 10-Q.
What should investors do after reading LION COPPER & GOLD CORP.'s 10-Q?
Review the detailed financial statements and management discussion within the 10-Q to understand the company's performance and outlook. The overall sentiment from this filing is neutral.
Risk Factors
- Financial Performance and Liquidity [medium — financial]: The company's financial statements and disclosures in the 10-Q will detail its revenue, expenses, cash flows, and overall financial condition, which are critical for assessing its ability to continue as a going concern.
- Commodity Price Volatility [high — market]: As a mining company, Lion Copper & Gold Corp. is exposed to fluctuations in the prices of copper and other metals, which can significantly impact its profitability and project viability.
- Operational Risks and Development [medium — operational]: The success of mining operations depends on exploration, development, extraction, and processing, all of which carry inherent operational risks, including geological uncertainties and technical challenges.
- Environmental and Regulatory Compliance [medium — regulatory]: Mining activities are subject to stringent environmental regulations and permitting processes, which can lead to delays, increased costs, or operational restrictions.
Key Dates
- 2024-03-31: Quarterly Period End — End of the reporting period for the Form 10-Q.
Filing Stats: 4,791 words · 19 min read · ~16 pages · Grade level 13.5 · Accepted 2024-05-15 14:43:08
Filing Documents
- form10q.htm (10-Q) — 3045KB
- exhibit31-1.htm (EX-31.1) — 11KB
- exhibit31-2.htm (EX-31.2) — 11KB
- exhibit32-1.htm (EX-32.1) — 3KB
- exhibit32-2.htm (EX-32.2) — 3KB
- form10qxz002.jpg (GRAPHIC) — 4KB
- 0001062993-24-010308.txt ( ) — 12485KB
- lcgmf-20240331.xsd (EX-101.SCH) — 105KB
- lcgmf-20240331_cal.xml (EX-101.CAL) — 39KB
- lcgmf-20240331_def.xml (EX-101.DEF) — 308KB
- lcgmf-20240331_lab.xml (EX-101.LAB) — 1055KB
- lcgmf-20240331_pre.xml (EX-101.PRE) — 481KB
- form10q_htm.xml (XML) — 2488KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements Lion Copper and Gold Corp. Condensed Interim Consolidated Financial Statements For the three months ended March 31, 2024 and 2023 (Expressed in thousands of U.S. Dollars) (Unaudited) Lion Copper and Gold Corp. Condensed Interim Consolidated Balance Sheets As at March 31, 2024, and December 31, 2023 (Unaudited - In thousands of U.S. Dollars) Note March 31, 2024 December 31, 2023 ASSETS Current assets Cash and cash equivalents $ 10,899 $ 2,310 Other receivables 18 14 Prepaid and deposit 144 62 11,061 2,386 Other receivables - Long term 10 10 Mineral properties 4,14 7,802 7,647 Reclamation bonds 9 9 Investment in associate 5 1,112 1,206 Right of use asset 68 - Total assets $ 20,062 $ 11,258 LIABILITIES Current liabilities Accounts payable $ 565 $ 163 Accrued liabilities 99 - Rio Tinto deposit 6 9,518 1,357 Derivative liabilities 8 698 176 Convertible debentures 8,9,13 855 3,544 Lease liabilities - current 38 - 11,773 5,240 Lease liabilities - long term 30 - Total liabilities 11,803 5,240 Stockholders' equity Share capital, no par value, unlimited common shares authorized; 382,792,710 issued and outstanding (2023 - 309,667,975 ) 11 108,980 105,396 Additional paid-in capital 12 24,828 24,168 Deficit ( 128,920 ) ( 126,663 ) Non-controlling interest 7 3,371 3,117 Total stockholders' equity 8,259 6,018 Total liabilities and stockholders' equity $ 20,062 $ 11,258 NATURE OF OPERATIONS AND GOING CONCERN (Note 1) COMMITMENTS (Note 15) CONTINGENCIES (Note 16) Approved on behalf of the Board of Directors on May 14, 2024: /s/ "Travis Naugle" /s/ "Stephen Goodman" Chief Executive Officer President & Chief Financial Officer The accompanying notes form an integral part of these condensed interim consolidated financial statements. Lion Copper and Go