Paramount Gold Nevada Corp. reported its financial results for the three months ended September 30, 2024, showing a net loss of $1,572,138, a 24% decrease from the net loss of $2,074,160 in the same period of 2023. Total expenses for Q3 2024 were $1,404,675, down from $2,027,659 in Q3 2023. The basic and diluted loss per share improved to $0.02 from $0.04 year-over-year.

The company’s cash and cash equivalents as of September 30, 2024, stood at $4,293,941, a decrease from $5,423,059 as of June 30, 2024. Cash used in operating activities increased to $1,167,455 from $899,320 in the prior year, primarily due to costs associated with permitting and exploration activities. The company’s total current assets were reported at $5,347,393, while total liabilities amounted to $17,897,583, resulting in total stockholders' equity of $37,075,199.

Paramount has not generated any revenues or cash flows from operations to date, relying on external financing for its operations. The company has established an "at the market" equity offering program with Cantor Fitzgerald & Co. and A.G.P./Alliance Global Partners, aiming to raise $7 million. During the reporting period, it issued 114,918 shares under this program for net proceeds of $46,358, a significant decrease compared to the issuance of 3,515,257 shares for $1,088,528 in the same quarter of 2023.

Significant reductions in expenses were noted in exploration and reclamation costs. Exploration expenses decreased to $395,298 from $513,097, while reclamation expenses fell dramatically to $53,937 from $746,696. Conversely, salaries and benefits rose slightly to $288,480, and professional fees surged to $171,997 from $55,252 in the previous year.

The company is actively pursuing the Grassy Mountain Project, with the State of Oregon's Technical Review Team approving the Environmental Evaluation, which initiates a 225-day period for drafting permits. Paramount's future operations are expected to incur ongoing losses until production at this project begins. The company faces substantial doubt regarding its ability to continue as a going concern due to its reliance on external financing and the need for sufficient capital to maintain operations.

As of September 30, 2024, Paramount's total assets were valued at $54,972,782, with a working capital of approximately $4,838,147. The company continues to manage liquidity and capital resources while focusing on minimizing cash expenses.