Lion Copper Corp.
For the period ended Mar 31, 2025. Filed May 15, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 15, 2025
LCU$4.20-4.3%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2024-09-30; filed 2024-11-14.
0001062993-24-019173
Item 2. Management's Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-03-31; filed 2025-05-15.
0001062993-25-009518
Item 2. Management's Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 156 previous paragraphs and 90 current paragraphs.
43 unchanged; 15 reworded; 31 added; 98 removed; 0 previous and 1 current paragraphs rearranged.
Tables are not compared: 4 previous and 4 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (31)
Current report
For the three months ended March 31, 2025
Current report
(In thousands of U.S. dollars except for shares and per share amounts)
Current report
ABOUT LION COPPER
Current report
In October 2023 and November 2024, Stage 2 was modified into Stage 2b and Stage 2c, with the respective terms extended to September 30, 2024 and June 30, 2025. Stage 2c includes advanced studies at Yerington, and completion of a Prefeasibility Study (the "PFS") incorporating Nuton™ technologies.
Current report
Page 2 of 7
Current report
Up to March 31, 2025, the Company incurred cumulative expenditures of $23,649, consisting of $16,711 for exploration & evaluation, $6,221 for exploration- related overhead, and $717 for capital items under the Nuton Agreement.
Current report
Within 60 days of the completion of Stage 2c, Nuton LLC shall provide written notice to the Company whether it elects to exercise the option and fund a comprehensive feasibility study (the "FS") in an aggregate amount (inclusive of the Stage 3 advance funding) not to exceed $50,000. Upon completion of the FS, Nuton LLC and the Company will decide whether to create an investment vehicle into which the Mining Assets will be transferred, with Nuton LLC holding not less than 65% interest in the investment vehicle.
Current report
PERFORMANCE HIGHLIGHTS
Current report
Reinstatement of Water Rights
Current report
On March 13, 2025, the Company announced the successful negotiation of a settlement agreement with the Nevada Division of Water Resources and the Nevada State Engineering (collectively, the "State") to reinstate 3,452.8 ac-ft of previously forfeited water rights essential for the development of the Yerington Copper project. As a result, the State has officially rescinded its notice of forfeiture, thus restoring all the Company's 6,014.5 ac-ft of water rights to good standing. This Settlement Agreement effectively terminates the legal proceedings initiated by the Company to defend its water rights.
Current report
MINERAL PROPERTIES
Current report
Nuton LLC Agreement
Current report
Fourteen hollow stem auger drill holes were completed January 2025 on the legacy sulfide tailings facility. These drill holes collected samples which have been utilized for laboratory testing to evaluate and optimize infrastructure siting locations for the PFS.
Current report
Metallurgical column leach testing of MacArthur and Yerington transition and oxide material, which started September 2024, was completed January 2025. Column leach testing and hydrodynamic leach characterization of sulfides is ongoing by Nuton™. Results from the metallurgical programs will be utilized for the PFS.
Current report
Page 3 of 7
Current report
No additional permitting occurred during the period. Permit compliance activities were completed to ensure compliance with existing permits.
Current report
On March 11, 2025, the Company reached a settlement agreement with the State, which rescinded the forfeiture decisions and reinstated all previously forfeited water rights. The Company received confirmation of this on March 13, 2025, and the court hearing was cancelled.
Current report
With the forfeiture recission complete, the Company now has 6,014.5 ac-ft of primary groundwater rights for use in ongoing exploration and future mining and milling operations.
Current report
During the three months ended March 31, 2025, the Company incurred lower expenses of $2,569, excluding non-cash items, compared to $3,821 during the three months ended March 31, 2024. Of these expenses $2,213 and $3,218 were covered by Nuton LLC funding resulting in net expenses of $356 and $603 in 2025 and 2024, respectively. These net expenses were equally attributed to corporate expenses and Falcon Copper-related expenditures that were not covered by Nuton LLC.
Current report
Exploration and evaluation ("E&E") activities include drilling, technical study, property maintenance, environmental, geological mapping and geophysical survey. During the three months ended March 31, 2025, the Company incurred $1,163 in E&E expenses compared to $2,660 during the three months ended March 31, 2024. The $1,497 decrease reflects key milestones achieved in project development in 2024.
Current report
Page 4 of 7
Current report
During the three months ended March 31, 2025, the Company recognized $1,086 in share-based payments compared to $660 in the prior period. The increase is due to the 10,900,000 options that were granted in the current period in FCC coupled with the vesting of options previously granted in LCG. This compares to the grant of 14,295,000 options in the prior period.
Current report
In addition, the Company recognized a loss of $1,750 on the conversion, repayment, and extinguishment of certain convertible debentures in 2024, which was not applicable in 2025.
Current report
The Company's results are also impacted by non-recurring events such as the $1,750 loss in convertible debentures in 2024 and $602 property impairment in 2023.
Current report
Page 5 of 7
Current report
During the three months ended March 31, 2025, the Company utilized the $16,500 previously received from Nuton LLC, to cover approximately 86% (2024 - 84%) of the expenses, excluding non-cash items. Cash on hand is approximately $4,000 as of May 15, 2025.
Current report
During the three months ended March 31, 2025, the Company repaid $6 in convertible debentures. The Company also received $482 pursuant to the issuance of 4,150,000 shares of FCC. FCC also issued 12-month convertible debentures totaling $220.
Current report
Page 6 of 7
Current report
71,235,248 stock options
Current report
94,780,289 warrants
Removed paragraphs (98)
Previous report
For the three and nine months ended September 30, 2024
Previous report
(In U.S. dollars)
Previous report
ABOUT LION CG
Previous report
Lion Copper and Gold Corp., formerly Quaterra Resources Inc., is a Canadian-based Company advancing its 100% owned flagship copper projects at Yerington, Nevada through an option to earn-in agreement with Nuton LLC, a Rio Tinto Venture. The Company also looks for opportunities to acquire projects on reasonable terms that have the potential to host large mineral deposits attractive to major mining companies.
Previous report
The Company is incorporated in British Columbia, Canada on May 11, 1993. Its registered and records offices are located at 1200 - 750 West Pender Street, Vancouver, British Columbia, Canada, V6C 2T8.
Previous report
During the year ended December 31, 2022, the Company transitioned into the SEC reporting system because more than 50% of its outstanding voting common shares are held directly or indirectly by residents of the United States, and the majority of its directors are U.S. citizens. Consequently, the Company must adhere to the SEC's reporting and disclosure requirements.
Previous report
The Agreement was subsequently assigned to Nuton LLC, a Rio Tinto venture. The Rio Agreement was amended in October 2023 with Stage 2 being modified to Stage 2a and Stage 2b. The Company completed Stage 1 on December 22, 2022, Stage 2a on January 12, 2024, and is currently progressing in Stage 2b.
Previous report
Should the Parties agree that Stage 2c is necessary, the Parties will memorialize the scope of work in a letter agreement. Subject to internal approvals, Nuton will advance another $5,000 of Stage 3 within 30 days of the execution of the Stage 2c Program of Work Agreement.
Previous report
Page 2 of 10
Previous report
As of September 30, 2024, the Company has received $23 million cumulative funding from Rio Tinto, of which $9,000 was for Stages 1 and 2, and $14,000 was advanced funding of Stage 3. As of September 30, 2024, the Company has, incurred $19.011 million expenditures, including $14.074 million in exploration, $4.335 million in general operating and $0.602 million in capital items under the Rio Agreement.
Previous report
SELECTED FINANCIAL INFORMATION
Previous report
The Company's results are also impacted, from time to time, by other non-recurring events arising from its ongoing activities, as discussed below, where applicable.
Previous report
Page 3 of 10
Previous report
Preliminary Economic Assessment ("PEA")
Previous report
On January 30, 2024, the Company announced the results of a PEA on its Yerington Copper Project. The PEA envisions an open pit mining strategy followed by a heap leach operation, enhanced by the application of Rio Tinto's Nuton™ technologies to process primary sulfide copper materials. Highlights of the PEA results include:
Previous report
▪ Post-tax NPV7% of $356 million and IRR of 17.4%, calculated at a copper price of $3.85/lb.
Previous report
▪ 12-year open pit mine life encompassing operations at Yerington and MacArthur, with projected lifetime copper (Cu) production of 1.4 billion pounds, averaging 117 million pounds per year
Previous report
▪ Initial capital expenditure of $413 million including all mine pre-production costs, with sustaining capital of $653 million
Previous report
▪ Post-tax payback period of 5.0 years
Previous report
▪ Average cash operating costs of $2.20/lb. copper payable
Previous report
▪ Cumulative cashflow of $1.00 billion post-tax and $1.24 billion pre-tax on base case assumptions
Previous report
Rio Agreement
Previous report
Eighteen drill holes were completed at MacArthur.
Previous report
Four core drill holes were drilled at Yerington. The recently completed drilling, together with the discovery of an additional 17 historic Anaconda holes that were not included in the January 2024 Preliminary Economic Assessment ("PEA"), are now being incorporated into an updated mineral resource as a key input into the PFS. One of the core holes has been converted into a water level measuring well.
Previous report
Eighteen reverse circulation drill holes were completed at MacArthur and a well was installed in one of the holes.
Previous report
The objective of the 2024 drilling programs at MacArthur and Yerington was to convert as much of the inferred resource to the indicated resource classification so that it can be included in the prefeasibility study ("PFS").
Previous report
The Vat Leached Tailings ("VLT") resource model was re-evaluated by incorporating highwall and backhoe sampling that was completed in 2011 and 2012. A detailed statistical evaluation of this information has allowed for increased search distances, influencing the assigned mineral resource classes. The updated resource will be used in the PFS.
Previous report
Yerington core drilling provided material for geomechanical testing, oriented core measurement and geotechnical logging to assess pit slope design. A pit slope stability evaluation, including geotechnical pit bench mapping was initiated during Q2. Additional drill core samples were selected and delivered for metallurgical column leach test work. Drill core samples were submitted for laboratory testing to characterize the geochemistry of the planned mined materials. Laboratory results have been received and are currently in review and an analysis will be provided in the PFS.
Previous report
Nine geotechnical test pits were completed, and samples from the test pits have been submitted for laboratory testing. Geotechnical drilling at Yerington and MacArthur to support the PFS are in the planning stages. The timing and scope of additional drilling is dependent on receipt of permits from NDEP, as discussed in the next section. This geotechnical field and test work will progress the optimization and siting of project infrastructure for the PFS.
Previous report
Page 4 of 10
Previous report
Metallurgical column leach testing is currently underway for MacArthur and Yerington material. Four columns representing the main MacArthur pit area and the North Ridge area started September 9, 2024. Five columns representing the oxide and transition portion of the Yerington pit started on September 30, 2024. Material from the Gallagher portion of the MacArthur deposit and the VLT have also been submitted to the laboratory for metallurgical testing. Column leach testing and hydrodynamic leach characterization of sulfides is also ongoing by Nuton™.
Previous report
Two rotosonic drill holes were completed for a combined footage of 358 feet. A third drill hole is in progress. These drill holes were completed north of MacArthur for evaluating a potential Rapid Infiltration Basin (RIB) location for Yerington pit dewatering. One additional drill hole was completed in Q3 and material from drilling will be submitted for column testing and geochemical evaluation.
Previous report
Bear Drilling
Previous report
The Bear deposit is a large and partially defined porphyry copper exploration target located primarily on private lands approximately three miles north of the Yerington pit. Two diamond core holes, B-055 and B-056A, were drilled to depths of 3,435 feet and 3,613 feet, respectively, to further define the target. Drilling was completed in Q2, and assays were also received in Q2. B-055 was drilled on the far western extent of the deposit and directed to intersect a +55 Induced Polarization (IP) anomaly. Weak copper mineralization was encountered within a 2,330-foot intercept of sulfide mineralization, starting at 1,105 feet. B-056A was drilled to test a wide spaced drilling gap along the district northwest mineralization trend. This drill hole identified 0.40% TCu over 2,376 feet from a depth of 1,237 feet, including 130 ft of 0.65% TCu and 138 Ft of 0.62% TCu. The final two intervals encountered 1.150% TCu and 0.904% TCu, respectively, below which the borehole was lost. Oriented core measurements from this hole confirmed the northwest trend with a 40-50° north to northeast dip.
Previous report
During the quarter ending September 30, 2024, the following material permit related activities occurred:
Previous report
▪ On August 12, 2024, SPS received approval from the Nevada Division of Environmental Protection (NDEP) for an amendment to Reclamation Permit Number 0294 to allow for geotechnical drilling and monitoring well installation within the MacArthur Exploration project area.
Previous report
▪ On August 22, 2024, SPS received a decision notice from the Bureau of Land Management (BLM) authorizing exploration work on public lands located north and east the MacArthur Exploration project area. The authorized work supports completion of the PFS.
Previous report
▪ On September 17, 2024, SPS received a decision notice from the BLM authorizing the same work approved by NDEP in the August 12 permit approval. The work authorized by both agencies supports completion of the PFS.
Previous report
All permits either applied for or received during the period are aligned to the Stage 2B work plan requirements. For those permits that SPS has applied for but has not yet received, the Company continues to work cooperatively and proactively with NDEP to facilitate permit issuance in a timely manner. SPS expects to receive the remaining permits from NDEP in the fourth quarter of 2024.
Previous report
On July 15, 2024, SPS applied for a permit to appropriate water contained within the Yerington Pit Lake for storage purposes only. The permit application did not seek appropriate additional water for consumptive use. While the water storage permit is not a prerequisite for future dewatering of Yerington Pit Lake, it would have streamlined anticipated future administrative changes to other existing water rights. On August 5, 2024, SPS received correspondence from the State of Nevada that the application for water storage was denied based on similar applications for water storage that were also denied by the State in 2011 for an applicant other than SPS. SPS disputes this rationale as SPS provided information clearly showing how its application materially differed from those denied by the State in 2011. SPS filed a timely appeal of the denial with the District Court.
Showing the first 40 of 98 passages. Open the source sections for the rest.
Reworded paragraphs (15)
Previous wording
This Management's Discussion and Analysis ("MD&A") of Lion Copper and Gold Corp. and its subsidiaries (collectively, "Lion CG" or the "Company"), dated November 14, 2024, should be read in conjunction with the condensed interim consolidated financial statements for the three and nine months ended September 30, 2024 and audited consolidated financial statements for the year ended December 31, 2023, and related notes thereto which have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP"). All dollar amounts in this MD&A are United States dollars unless otherwise noted.
Current wording
This Management's Discussion and Analysis ("MD&A") of Lion Copper and Gold Corp. and its subsidiaries (collectively, "Lion Copper" or the "Company"), datedMay 15, 2025, should be read in conjunction with the condensed interim consolidated financial statements for the three months ended March 31, 2025 and the audited consolidated financial statements for the year ended December 31, 2024, and related notes thereto which have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP").
Previous wording
Additional information about Lion CG, including the Company's press releases, quarterly and annual reports is available through the Company's filings with the securities regulatory authorities in Canada atwww.sedarplus.com or the United States Securities Exchange Commission ("SEC") atwww.sec.gov/edgar. Information about mineral resources, as well as risks associated with investing in the Company's securities is contained in the Company's most recently filed 10-K.
Current wording
Additional information about the Company, including the Company's press releases, quarterly and annual reports is available through the Company's filings with the securities regulatory authorities in Canada atwww.sedarplus.com or the United States Securities Exchange Commission ("SEC") atwww.sec.gov/edgar. Information about mineral resources, as well as risks associated with investing in the Company's securities is also contained in the Company's most recently filed Form 10-K.
Previous wording
Steven Dischler, CEO of the Company, is a Qualified Person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), and has approved the scientific and technical information in this MD&A.
Current wording
John Banning, Chief Executive Officer for the Company, is a Qualified Person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), and has approved the scientific and technical information in this MD&A.
Previous wording
On November 22, 2021, the Company changed its name and began trading on the TSX Venture Exchange ("TSXV") under the new symbol "LEO" and on the OTCQB Market under the symbol "LCGMF". On September 19, 2024, the Company's common shares were voluntarily delisted on the TSXV and were subsequently listed on the Canadian Securities Exchange ("CSE") under the same symbol "LEO".
Current wording
Lion Copper was incorporated in British Columbia, Canada on May 11, 1993, under the name of Acquaterre Mineral Development Ltd. On November 13, 1997, the Company changed its name to Quaterra Resource Inc*.* and further to Lion Copper and Gold Inc. on November 22, 2021. On September 19, 2024, the Company's common shares were voluntarily delisted on the TSX Venture Exchange ("TSXV") and were subsequently listed on the Canadian Securities Exchange ("CSE") under the symbol "LEO "and continues to be quoted for trading on the OTCQB Market under the symbol "LCGMF".
Previous wording
On March 18, 2022, the Company entered an option to earn-in agreement (the “Rio Agreement”) with Rio Tinto America Inc. (“Rio Tinto”), to advance studies and exploration at the Company’s copper projects in Mason Valley, Nevada. The Agreement defines three stages of investment by Nuton. Following the completion of Stage 2, Rio Tinto has the exclusive option to earn an initial 65% interest in the projects comprising Yerington, MacArthur, Wassuk, Bear and associated water rights (the "Mining Assets") by making staged investments in the Mining Assets at Yerington.
Current wording
On March 18, 2022, the Company entered an option to earn-in agreement with Rio Tinto America Inc. ("Rio Tinto"), subsequently assigned to Nuton LLC, a Rio Tinto Venture, (the "Nuton Agreement"), to advance studies and exploration at the Company's copper projects in Mason Valley, Nevada. The Nuton Agreement outlines 3-stage investments amounting to $50,000 in aggregate and provides Nuton LLC with an exclusive option to earn a 65% interest in the projects, comprising 34,494 acres of land, including the historical Yerington mine, the historic MacArthur project, the Wassuk property, the Bear deposit, and associated water rights (the "Mining Assets").
Previous wording
Rio Tinto is evaluating the potential commercial deployment of its Nuton™ technologies at the site. Nuton™ offers copper heap leaching technologies developed by Rio Tinto to deliver greater copper recovery from mined ore and access new sources of copper, such as low-grade sulfide resources and reprocessing of stockpiles and mineralized waste. These technologies have the potential to deliver leading environmental performance through more efficient water usage, lower carbon emission, and the ability to reclaim mine sites by reprocessing waste.
Current wording
Nuton LLC is evaluating the potential commercial deployment of its Nuton™ technology at the Company's Yerington Copper Project. Nuton™ offers copper heap leaching technologies to deliver greater copper recovery from mined materials and access new sources of copper, such as low-grade sulfide resources and reprocessing of stockpiles and mineralized waste. These technologies have the potential to deliver leading environmental performance through more efficient water usage, lower carbon emission, and the ability to reclaim mine sites by reprocessing waste.
Previous wording
As of November 14, 2024, the Company has:
Current wording
As of March 31, 2025, the Company received a total of $28,000 from Nuton LLC and is on track to complete stage 2c by June 30, 2025.
Previous wording
On March 12, 2024, the Company announced the commencement of the Stage 2b and Stage 3 Programs of Work to advance the flagship Yerington Copper Project through completion of a Pre-Feasibility Study ("PFS") and progress permitting and exploration initiatives on the Bear Deposit.
Current wording
On March 12, 2024, the Company announced the commencement of the Stage 2b Program of Work to advance the Yerington Copper Project through completion of a PFS by September 2024 and progress exploration initiatives on the Bear Deposit. Stage 2b was subsequently extended into Stage 2c on November 15, 2024 to investigate identified opportunities and complete trade-off studies with a delivery date of the PFS to June 2025.
Previous wording
During the quarter ending September 30, 2024, PFS progressive work included resource updates, environmental and geotechnical studies, metallurgical testing and engineering.
Current wording
During the year ending December 31, 2024 and three months ended March 31, 2025, PFS progressive work included geotechnical drilling and studies, metallurgical testing, and engineering studies.
Previous wording
The Company is an exploration stage company that has not earned any production revenue. Its operations have been dependent mainly on the Rio-Tinto agreement and private placements in the last few years without diluting shareholders' value. The Company may have capital requirements in excess of its currently available resources and may be required to seek additional financing. There can be no assurance that the Company will have sufficient financing to meet its future capital requirements or that additional financing will be available on terms acceptable to the Company in the future.
Current wording
The Company is in an advanced exploration stage that to date has not earned any revenue. Its operations have been dependent mainly on the Nuton LLC funding in the last few years without diluting shareholders' value.
Previous wording
The following table summarizes the Company's cash flows for the nine months ended September 30, 2024, and 2023:
Current wording
The following table summarizes the Company's cash flows for the three months ended March 31, 2025, and 2024:
Previous wording
The Company has no operating revenues and therefore must utilize its cashflows from financing transactions to maintain its capacity to meet ongoing operating activities.
Current wording
The Company has no operating revenues and therefore must utilize its cashflows from financing transactions to maintain its capacity to meet ongoing operating activities. Should Nuton LLC decide not to proceed with Stage 3, the Company will need to secure additional financing to maintain its mineral property interests, advance its copper projects and fulfill its obligations as they come due. While the Company has successfully raised funds in the past, there is no assurance it will be able to do so in the future. This represents a material uncertainty that may cast significant doubt about the Company's ability to continue as a going concern, as outlined in Note 1 of the March 31, 2025 condensed interim consolidated financial statements.
Previous wording
(1) Charles Travis Naugle, Former CEO, Director - $104 (2023 - $187); Stephen Goodman, Former CFO, Director - $83 (2023 - $158); Steven Dischler, CEO - $67 (2023 - $Nil); Lei Wang, CFO - $30 (2023 - $Nil); John Banning, COO - $53 (2023 - $Nil).
Current wording
(1) Charles Travis Naugle, former CEO, Director - $36 (2024 - $63); Stephen Goodman, former CFO, Director - $Nil (2024 - $50); Steven Dischler, CEO - $50 (2024 - $Nil); Lei Wang, CFO - $23 (2024 - $Nil); John Banning, COO - $62 (2024 - $Nil); Doug Stiles, VP of Sustainability and Environment - $44 (2024 - $Nil)
Previous wording
(3) Charles Travis Naugle, Former CEO, Director - $Nil (2023 - $215); Stephen Goodman, Former CFO Director - $85 (2023 - $166); Tony Alford, Director - $215 (2023 - $306), Thomas Patton, Director - $Nil (2023 - $54), Thomas Pressello, Director - $Nil (2023 - $54); Steven Dischler, CEO - $44 (2023 - $Nil); John Banning, COO - $37 (2023 - $Nil)
Current wording
(2) Charles Travis Naugle, former CEO, Director - $476 (2024 - $Nil); Stephen Goodman, former CFO Director - $Nil (2024 - $66); Tony Alford, Director - $48 (2024 - $215), Thomas Patton, Director - $48 (2024 - $Nil), Thomas Pressello, Director - $Nil (2024 - $Nil); Steven Dischler, CEO - $19 (2024 - $Nil); John Banning, COO - $16 (2024 - $Nil); Doug Stiles, VP of Sustainability and Environment - $13 (2024 - $Nil); Lukas Naugle, brother of a director - $38 (2024 - $Nil)
Previous wording
(4) Charles Travis Naugle, Former CEO, Director - $55 (2023 - $25); Tony Alford, Director - $82 (2023 - $139); Ekaterina Naugle, spouse of a director - $7 (2023 - $3); Stephen Goodman, Former CFO, Director $2 (2023 - $3); Thomas Pressello, Director - $Nil (2023 - $1)
Current wording
(3) Charles Travis Naugle, Former CEO, Director - $Nil (2024 - $24); Tony Alford, Director - $Nil (2024 - $77); Ekaterina Naugle, spouse of a director - $Nil (2024 - $3); Stephen Goodman, Former CFO, Director $Nil (2024 - $2); Thomas Pressello, Director - $Nil (2024 - $Nil)
Rearranged current paragraphs (1)
Current report — wording carried from elsewhere
As of the date of this MD&A, the Company has: