Rupert Resources Reports Audited Financial Results for the Ten Months Ending December 31, 2024
TORONTO, March 28, 2025 (GLOBE NEWSWIRE) -- Rupert Resources Ltd ("Rupert" or the "Company") announces that it has published its audited financial results for the ten months ending December 31, 2024 and accompanying Management's Discussion and Analysis for the same period.
Both of the above have been posted on the Company's website www.rupertresources.com and on the Company's profile on SEDAR+ at www.sedarplus.ca.
As per its press release dated December 10, 2024, Rupert has changed its fiscal year-end from end-February to end-December to better align the Company's financial statement and continuous disclosure requirements with its industry peers.
Financial Highlights
During the 10 months ending December 31, 2024, the Company spent $25,405,497 (twelve months ended February 28, 2024 - 31,528,290) on general exploration costs and purchase of property, plant and equipment. As of December 31, 2024, Rupert held cash or cash equivalents of $44,744,545. The Company recorded a net loss and comprehensive loss for 10 months to December 31, 2024 of $(8,142,325) (12 months ended February 29, 2024 - $(5,782,240) and a net loss per share of $(0.05) (12 months ended February 29, 2024 - $(0.04)).
All references to currency in this press release are in Canadian dollars.
Graham Crew, Chief Executive Officer of Rupert Resources said, "Our strong cash position of over $44 million at year-end provides a solid foundation for advancing Ikkari through critical development milestones in 2025. With the recent fundraising and excellent shareholder support the Company is well positioned to deliver the ongoing Environmental Impact Assessment & Engineering Studies for the Ikkari project, as well as systematically exploring to unlock value across our strategic land package in the Central Lapland Greenstone Belt"
Operating Highlights
During the 10 months ended December 31, 2024 and up to the date of this document, Rupert's operational activities have been focussed on the Rupert Lapland Project Area and Ikkari in particular.
Regional Exploration Program, including Ikkari
The regional exploration program at the Rupert Lapland Project Area is designed to identify and evaluate the mineral potential contained in Rupert's land package in the Central Lapland Greenstone Belt.
Since July 2020, the Company has been engaged in a diamond drill program to further evaluate discoveries made within the Rupert Lapland Project Area, including Ikkari, as well ...
