Premium Nickel Resources Ltd
For the period ended Dec 31, 2023. Filed Jun 28, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Jun 28, 2024
NEXM$1.21-5.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
(Expressed in Canadian dollars)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Year ended | ||||||
| · Notes · December 31, 2023 · December 31, 2022 | ||||||
| | | | | $ | | $ |
| OPERATING ACTIVITIES | ||||||
| Net loss for the year | | (32,376,069) | (27,306,350) | |||
| Interest received | | | | 110,886 | | — |
| Interest payment on the Term Loan | | | | (980,892) | | — |
| Items not affecting cash: | | |||||
| Share-based payment | | 657,138 | 7,731,117 | |||
| Deferred share units granted | 13(d) | 798,121 | 298,000 | |||
| FV movement of deferred share units | 13(d) | (128,114) | — | |||
| Depreciation | 7 | 744,783 | 96,543 | |||
| Provision for leave and severance | | 332,261 | 177,941 | |||
| Accretion on loans | | 674,121 | 70,959 | |||
| Deferred tax recovery | 19 | (524,531) | — | |||
| Warrant fair value movement | | — | (8,974,901) | |||
| Changes in non-cash working capital and non-current liability | | |||||
| Prepaid expenses and other receivables | | (157,790) | (1,127,061) | |||
| Trade payables and accrued expenses | | 254,430 | 3,445,230 | |||
| Deferred share units redemption | 13(d) | (83,527) | — | |||
| Spare parts | | (212,135) | — | |||
| Net cash used in operating activities | | (30,891,318) | (25,588,522) | |||
| | | | | | | |
| INVESTING ACTIVITIES | | |||||
| Acquisition of property, plant and equipment | 7 | (4,746,256) | (737,271) | |||
| Additions to expenditures on exploration and evaluation assets | 6 | (483,883) | (8,578,627) | |||
| NSR Option payment received | 6 | 2,750,000 | — | |||
| Cash received through RTO transaction | | — | 11,051,917 | |||
| Net cash used in investing activities | | (2,480,139) | 1,736,019 | |||
| | | | | | | |
| FINANCING ACTIVITIES | ||||||
| Proceeds from issuance of units | | 39,774,312 | 23,404,857 | |||
| Share issue costs | | (2,808,231) | (1,535,727) | |||
| Proceeds from exercise of options and warrants | | 175,000 | — | |||
| Loan proceeds, net of fees | | 19,605,000 | — | |||
| Promissory Note (repayment) financing | | (7,637,329) | 6,740,000 | |||
| Vehicle loan financing | | 71,480 | 164,644 | |||
| Lease payment | | (2,241,906) | — | |||
| Net cash provided by financing activities | | 46,938,326 | 28,773,774 | |||
| | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | | 515,768 | (1,748,483) | |||
| Change in cash and cash equivalents for the year | | 14,082,637 | 3,172,788 | |||
| Cash and cash equivalents at the beginning of the year | | 5,162,991 | 1,990,203 | |||
| Cash and cash equivalents at the end of the year | | 19,245,628 | 5,162,991 | |||
| Supplemental cash flow information | | | | | | |
| Income taxes paid | | | | — | | — |
| Interest paid | | | | 1,633,888 | | 68,285 |
| Supplemental disclosure of non-cash investing and financing activities | | | | | | |
| Right of use asset additions | | | | 1,023,615 | | 3,077,421 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.