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Rise Gold Corp (RYES+5.56%) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing includes financial statements for the quarter, showing a net loss of $686,333 compared to a net loss of $597,486 in the same quarter the previous year. The loss is attributed to various expenses, including accretion expense, consulting fees, and professional fees.
Cash and cash equivalents increased to $743,546 as of January 31, 2025, from $243,669 as of July 31, 2024. This increase is primarily due to proceeds from mineral property contracted for sale.
The company reported a working capital deficit of $433,482 as of January 31, 2025, compared to a deficit of $1,766,960 as of July 31, 2024.
The filing details the company's ongoing efforts to secure additional financing and highlights the potential need for further capital to continue operations.
Rise Gold Corp continues to focus on its Idaho-Maryland Gold Mine Property, with cumulative exploration expenditures reported at $9,605,667.
The company has entered into various financial agreements, including a secured loan agreement with Myrmikan Gold Fund, LLC and an amended debt agreement with Eridanus Capital LLC.
The filing also notes a material weakness in the company's internal controls over financial reporting due to a lack of segregation of incompatible duties.
Rise Gold Corp is engaged in litigation concerning its vested rights to operate the Idaho-Maryland Mine Property and is pursuing legal action to protect its property rights.
The company does not anticipate cash dividend payments to common stockholders in the near future.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Rise Gold Corp quarterly 10-Q report dated March 17, 2025. To report an error, please email earnings@qz.com.