Filo Reports Q3 2024 Results
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 08 2024
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Source: Yahoo Finance
Company Transaction and Exploration Update: Filo Corp. announced a significant transaction with BHP and Lundin Mining, valued at approximately CAD 4.1 billion, which is expected to be completed in early 2025. The company has resumed drilling operations at the Filo del Sol Project after a temporary halt due to weather conditions.
Financial Performance Overview: For the three and nine months ended September 30, 2024, Filo reported net losses of USD 17.9 million and USD 70.0 million respectively, while exploration costs decreased compared to the previous year. The company also reported an increase in cash and working capital, attributed to a recent private placement.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
