Company Reports Q3 2024 Financial Performance with Focus on EBITDA

The Company has provided a detailed analysis of its financial performance for the third quarter of 2024, focusing on the metrics of EBITDA and adjusted EBITDA. These measures are used to give stakeholders a clearer picture of the company’s liquidity generation capabilities from its core business activities, excluding non-core factors.

EBITDA and adjusted EBITDA are not standardized under IFRS and should not be viewed as replacements for IFRS-compliant performance measures. They exclude depreciation, financing costs, taxes, and changes in operating working capital, which means they may not fully represent operating profit or cash flow under IFRS standards.

For the three months ending September 30, 2024, the company reported a net loss of $10,086 compared to $11,884 in the same period of 2023. For the nine months ending September 30, 2024, the net loss was $37,575, up from $19,057 in 2023. The reconciliation of EBITDA and adjusted EBITDA to net income (loss) shows a decrease in EBITDA from $(4,086) in Q3 2023 to $(4,436) in Q3 2024, and a decrease in adjusted EBITDA from $(1,578) to $(1,155) over the same period.

The report also details specific adjustments made, including inventory write-downs and write-downs of vanadium assets and mine properties. The Clean Energy segment showed a net loss of $4,436 for Q3 2024, with an adjusted EBITDA of $(3,428), while the LPV segment reported a net loss of $1,066 and an adjusted EBITDA of $(87).

These figures are derived from the company's Q3 2024 unaudited condensed interim consolidated financial statements, and further details can be found in the notes and management’s discussion and analysis sections.