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Fission Uranium (FCU) investor relations material

Fission Uranium Q3 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2024 earnings summary13 Nov, 2024

Executive summary

  • Entered a definitive agreement for Paladin Energy to acquire 100% of shares; Fission shareholders to receive 0.1076 Paladin shares per Fission share and own 24% of the combined entity with a pro-forma market cap of ~US$3.5B.

  • Advanced the PLS project: completed Front End Engineering Design, transitioned to Detailed Design, and submitted updated Environmental Impact Statement (EIS) with permitting decision expected in Q4 2024.

  • Closed a $75M bought deal financing in February 2024 and staked four new highly prospective properties in the Athabasca Basin.

  • Released inaugural Sustainability Report and maintained engagement agreements with six Indigenous rightsholders.

Financial highlights

  • Net loss for Q3 2024 was $3.2M (Q3 2023: $0.4M); net loss for nine months ended September 30, 2024 was $8.1M (2023: $6.1M).

  • Basic and diluted loss per share was $0.00 for Q3 2024 and $0.01 for the nine months ended September 30, 2024.

  • Working capital at September 30, 2024 was $135.5M, up from $71.9M at December 31, 2023, mainly due to financing proceeds.

  • Cash and cash equivalents at September 30, 2024 were $44.8M, with $90M in short-term investments.

  • Exploration and evaluation assets increased to $409.9M at September 30, 2024 (December 31, 2023: $378.4M).

Outlook and guidance

  • PLS project advancing toward construction and operation, with focus on de-risking, resource expansion, and ongoing regulatory and community engagement.

  • EIS permitting process expected to conclude in Q4 2024; project requires only provincial approval, streamlining advancement.

  • Management continues to seek strategic opportunities to monetize the PLS property and add shareholder value.

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Frequently asked questions

Fission Uranium Corp is a Canadian resource company focused on the exploration and development of uranium projects. Its primary asset is located in the Athabasca Basin in Saskatchewan, Canada, an area renowned for high-grade uranium deposits. The company is dedicated to advancing its project toward production, addressing the growing global demand for uranium as a clean energy source. Fission Uranium’s activities include resource estimation, environmental assessment, and feasibility studies to support project development. The company is headquartered in Kelowna, British Columbia, Canada, and its shares are listed on the Toronto Stock Exchange.

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