Ivanhoe Electric Inc
For the period ended Mar 31, 2024. Filed May 8, 2024.
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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, 2024 · Filed May 8, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Interim Consolidated Statements of Loss and Comprehensive Loss
Condensed Interim Consolidated Statements of Loss and Comprehensive Loss (Unaudited)
(Expressed in thousands of U.S. dollars, except for share and per share amounts)
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Revenue | $360 | $679 |
| Cost of sales | (100) | (184) |
| Gross profit | 260 | 495 |
| Operating expenses: | ||
| Exploration expenses | 43,643 | 26,559 |
| General and administrative expenses | 12,601 | 10,633 |
| Research and development expenses | 810 | 1,843 |
| Selling and marketing expenses | 87 | 49 |
| Loss from operations | 56,881 | 38,589 |
| Other expenses (income): | ||
| Interest income, net | (35) | (32) |
| Foreign exchange gain | (5) | (161) |
| Loss on revaluation of investments | 271 | 375 |
| Share of loss of equity method investees | 3,012 | 622 |
| Other income, net | (3) | (741) |
| Loss before income taxes | 60,121 | 38,652 |
| Income tax recovery | (26) | (72) |
| Net loss | 60,095 | 38,580 |
| Less loss attributable to non-controlling interests | (4,584) | (2,506) |
| Net loss attributable to common stockholders or parent | 55,511 | 36,074 |
| Net loss | 60,095 | 38,580 |
| Other comprehensive loss , net of tax: | ||
| Foreign currency translation adjustments | 392 | 68 |
| Other comprehensive loss | 392 | 68 |
| Comprehensive loss | $60,487 | $38,648 |
| Comprehensive loss attributable to: | ||
| Common stockholders or parent | 55,761 | 36,120 |
| Non-controlling interests | 4,726 | $2,528 |
| $60,487 | $38,648 | |
| Net loss per share attributable to common stockholders | ||
| Basic and diluted | $0.46 | $0.39 |
| Weighted-average common shares outstanding | ||
| Basic and diluted | 120,246,430 | 92,964,249 |
Condensed Interim Consolidated Statements of Changes in Equity (Unaudited)
(Expressed in thousands of U.S. dollars, except share amounts)
Three months ended March 31, 2024 and 2023
| Additionalpaid-incapital · Accumulateddeficit · AccumulatedothercomprehensiveIncome (loss) · Non-controllinginterest · Total | |||||||
|---|---|---|---|---|---|---|---|
| Common Stock | |||||||
| Shares · Amount | |||||||
| Balance at January 1, 2023 | 92,960,584 | $9 | $409,683 | $(202,128) | $(1,189) | $(3,928) | $202,447 |
| Net loss | — | — | — | (36,074) | — | (2,506) | (38,580) |
| Other comprehensive income | — | — | — | — | (46) | (22) | (68) |
| Issuance of common stock; earn-in payment | 10,281 | — | 150 | — | — | — | 150 |
| Stock options exercised | 1,000 | — | 3 | — | — | — | 3 |
| Share-based compensation | — | — | 5,067 | — | — | 65 | 5,132 |
| Other changes in non-controlling interests | — | — | (6) | — | — | 4 | (2) |
| Balance at March 31, 2023 | 92,971,865 | $9 | $414,897 | $(238,202) | $(1,235) | $(6,387) | $169,082 |
| Balance at January 1, 2024 | 120,025,264 | $12 | $777,816 | $(401,504) | $(2,073) | $2,030 | $376,281 |
| Net loss | — | — | — | (55,511) | — | (4,584) | (60,095) |
| Other comprehensive loss | — | — | — | — | (250) | (142) | (392) |
| Issuance of common stock; Kaizen arrangement | 116,413 | — | 952 | — | — | — | 952 |
| Issuance of common stock; earn-in payment | 12,765 | — | 95 | — | — | — | 95 |
| Settlement of restricted share units | 150,000 | — | — | — | — | — | — |
| Settlement of deferred share units | 1,972 | — | — | — | — | — | — |
| Share-based compensation | — | — | 3,315 | — | — | 30 | 3,345 |
| Non-controlling interests investment in subsidiary | — | — | 9,372 | — | — | 20,628 | 30,000 |
| Other changes in non-controlling interests | — | — | (726) | — | — | 272 | (454) |
| Balance at March 31, 2024 | 120,306,414 | $12 | $790,824 | $(457,015) | $(2,323) | $18,234 | $349,732 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.