FE Battery Metals Files 2024 Annual Report

Ticker: LINMF · Form: 20-F · Filed: Aug 8, 2024 · CIK: 1066130

Sentiment: neutral

Topics: annual-report, mining, sec-filing

TL;DR

FE Battery Metals filed its 2024 20-F, check it for mining ops update.

AI Summary

FE Battery Metals Corp. filed its annual report (Form 20-F) for the fiscal year ended March 31, 2024. The company, formerly known as First Energy Metals Ltd, is involved in the metal mining sector. Its principal executive offices are located in Vancouver, Canada.

Why It Matters

This filing provides investors with a comprehensive overview of FE Battery Metals Corp.'s financial performance and operational status for the past fiscal year, crucial for understanding the company's health and future prospects.

Risk Assessment

Risk Level: medium — As a mining company, FE Battery Metals is subject to inherent risks related to exploration, extraction, commodity prices, and regulatory environments.

Key Numbers

Key Players & Entities

FAQ

What is the primary business of FE Battery Metals Corp.?

FE Battery Metals Corp. is primarily involved in the metal mining sector, as indicated by its Standard Industrial Classification code [1000].

When did FE Battery Metals Corp. change its name from First Energy Metals Ltd?

FE Battery Metals Corp. changed its name from First Energy Metals Ltd on January 5, 2018.

What is the SEC file number for FE Battery Metals Corp.?

The SEC file number for FE Battery Metals Corp. is 000-29870.

Where are FE Battery Metals Corp.'s principal executive offices located?

FE Battery Metals Corp.'s principal executive offices are located at 700 West Georgia St., 25th Floor, Vancouver, A1, V7Y 1B3.

What type of SEC filing is this document?

This document is an annual report on Form 20-F for the fiscal year ended March 31, 2024.

Filing Stats: 4,509 words · 18 min read · ~15 pages · Grade level 15.2 · Accepted 2024-08-07 18:10:51

Key Financial Figures

Filing Documents

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 60 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 60 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 60 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 60 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 60 ITEM 16. [RESERVED] 61 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 61 ITEM 16B. CODE OF ETHICS 61 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 61 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 62 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 62 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 62 ITEM 16G. CORPORATE GOVERNANCE 62 ITEM 16H. MINE SAFETY DISCLOSURE 62 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 62 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 62 ITEM 19. EXHIBITS 63 5 PART 1 ITEM 1. identity of DIRECTORS, SENIOR management and advisers A. Directors and Senior Management This Form 20-F is being filed as an annual report under the Securities Exchange Act of 1934, as amended and as such, there is no requirement to provide any information under this item. B. Advisors This Form 20-F is being filed as an annual report under the Securities Exchange Act of 1934, as amended and as such, there is no requirement to provide any information under this item. C. Auditor This Form 20-F is being filed as an annual report under the Securities Exchange Act of 1934, as amended and as such, there is no requirement to provide any information under this item. ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE This Form 20-F is being filed as an annual report under the Securities Exchange Act of 1934, as amended and as such, there is no requirement to provide any information under this item. ITEM 3. KEY INFORMATION A. Selected Financial Data This Form 20-F is being filed as an annual report under the Securities Exchange Act of 1934, as amended and as such, there is no requirement to provide any information under this item. B. Capitalization and Indebtedness This Form 20-F is being filed as an annual report under the Securities Exchange Act of 1934, and as such, there is no requirement to provide any information under this item. C. Reasons for the Offer and Use of Proceeds This Form 20-F is being filed as an annual report under the Securities Exchange Act of 1934, and as such, there is no requirement to provide any information under this item. D. Risk Factors The following is a brief discussion of those distinctive or special characteristics of the Company's operations and industry which may have a material impact on FE Battery's financial performance. Readers should carefully consider the risks and uncertainties described below before deciding whether to invest in

Risk Factors

Risk Factors FE Battery has no source of operating cash flow, has a history of operating losses and has no assets of any significance with positive financial stage. The Company will not receive revenues from operations at any time in the near future, and the Company has no prior years' history of earnings or cash flow. The Company has not paid dividends on its shares at any time since incorporation and does not anticipate doing so in the foreseeable future. The Company's financial statements have been prepared assuming it will continue on a going-concern basis. Should funding not be obtained, this assumption will change and the Company's assets may be written down to realizable values. The Company has incurred losses since inception (deficit at March 31, 2024, is $56,179,336), which casts doubt on the ability of the Company to continue as a going concern. The Company has no revenue other than interest income. A mining project can typically require ten years or more between discovery, definition, development and construction and as a result, no production revenue is expected from any of the Company's exploration properties in the near future. All of the Company's short to medium-term operating and exploration expenses must be paid from its existing cash position or external financing. At March 31, 2024, the Company had working capital of $1,678,090, compared to working capital of $1,994,858 at March 31, 2023. Working capital is defined as current assets less current liabilities. 6 FE Battery may be unable to obtain the funds necessary to expand exploration. The Company's operations consist, almost exclusively, of cash consuming activities given that all of its mineral projects are in the early exploration stage. The Company will need to receive additional equity capital or other funding from the joint venture of one or more pro

Risk Factors

Risk Factors FE Battery is dependent on its ability to recruit and retain key personnel. The success of the activities of the Company is dependent to a significant extent on the efforts and abilities of its management. Investors must be willing to rely to a significant extent on their discretion and judgment. The Company has relied on and will continue to rely on consultants and others for exploration, development and technical expertise. The ability of the Company to retain key personnel and its ability to continue to pay for services are dependent upon the ability of the Company to obtain adequate financing to continue operating as a going concern. FE Battery's title to mineral property interests may be challenged. Although the Company has done a review of titles to its mineral interests, it has not obtained title insurance with respect to its properties and there is no guarantee of title. The Company's mineral properties may be subject to prior unregistered agreements or transfers or native land claim

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