American Lithium Announces Financial and Operating Highlights for Third Quarter Ended November 30, 2024

Core Viewpoint - American Lithium Corp. reported significant improvements in financial performance for the third quarter ended November 30, 2024, amidst a challenging battery metals market, with expectations of recovery in the near future [3][4]. Financial Highlights - The company recorded a loss of CAD 3,642,299 for the three months ended November 30, 2024, a substantial decrease from a loss of CAD 11,169,972 in the same period of the previous year [4]. - Loss per share improved to CAD 0.02 from CAD 0.05 year-over-year [4]. - As of November 30, 2024, cash and cash equivalents stood at CAD 3,492,789, down from CAD 11,889,416 as of February 29, 2024 [4]. - Total assets decreased to CAD 161,140,352 from CAD 173,594,831 [4]. - Total current liabilities were reduced to CAD 2,324,463 from CAD 3,115,623, and total liabilities decreased to CAD 2,790,914 from CAD 4,246,386 [4]. - Total shareholders' equity declined to CAD 158,349,438 from CAD 169,348,445 [4]. Project Development - American Lithium is advancing two major lithium projects and the largest undeveloped uranium project in Latin America, including the TLC lithium project in Nevada and the Falchani lithium and Macusani uranium projects in Peru [5]. - All three projects have undergone thorough preliminary economic assessments and show significant expansion potential with strong community support [5]. Corporate Governance - The company has strengthened its board independence with the appointment of Rona Sellers, a governance professional with over 12 years of experience in corporate and securities law [6]. Legal and Regulatory Update - Thirty-two concessions related to the Falchani and Macusani projects are currently involved in administrative and judicial processes in Peru, with ongoing appeals regarding the validity of these concessions [11]. - A favorable ruling was awarded to American Lithium in November 2023, but further appeals have been filed by the Geological, Mining and Metallurgical Institute of Peru and the Mining Council [11].