FIDDLEHEAD RESOURCES CORP. ANNOUNCES Q1 2025 FINANCIAL RESULTS
CALGARY, AB, May 30, 2025 /CNW/ - Fiddlehead Resources Corp. ("Fiddlehead," or the "Company") (TSXV: FHR), is pleased to announce the filing of its unaudited financial and operating results for the three months ended March 31, 2025. Selected financial and operating information should be read in conjunction with Fiddlehead's unaudited consolidated financial statements and related management's discussion and analysis ("MD&A") for the three months ended Mar. 31, 2025 and 2024 ("2025 Q1 Documents"). Financial and operating highlights for the period include:
Achieved average corporate production of 1,636 boe/d compared to average corporate production in Q4/24 of 1,624 boe/d.
First quarter of 2025, Fiddlehead's petroleum and natural gas sales totaled $3,975,870 and Funds Flow used in Operations was $194,854.
Readers are encouraged to read the 2025 Q1 Documents in their entirety, which are available on SEDAR+ at www.sedarplus.ca and on Fiddlehead's website at www.fiddleheadresources.com.
The table below summarizes selected highlights from the Company's financial and operating results:
(Expressed in $000s except per share, price and volume amounts.)
Three months endedMarch 31December 31March 31202520242024OPERATING HIGHLIGHTS AND NETBACKS1Average production and sales volumesLight oil (bbls/d)119134-NGLs (bbls/d)394378-Natural gas (Mcf/d)6,7466,675-Total (BOE/d)1,6361,624-Average realized sales pricesLight oil ($/bbl)91.7991.72-NGLs ($/bbl)49.3255.39-Natural gas ($/Mcf)2.061.28-Total oil equivalent ($/BOE)27.1325.86-Netbacks ($/BOE)1Petroleum and natural gas sales 27.1325.86-Royalties6.656.67-Operating expenses11.6511.25-Transportation expenses0.100.09-Operating Netback18.747.84-General and administrative expenses7.628.86-Finance costs6.274.98-Adjusted Funds Flow Netback1,2(5.15)(6.10)-FINANCIAL HIGHLIGHTSPetroleum and natural gas sales3,9763,844-Petroleum and natural gas sales, net of royalties2,9962,846-Net loss & comprehensive loss(2,497)(2,295)(138)Basic per share(0.04)(0.04)(0.03)Diluted per share(0.04)(0.04)(0.03)Cash flow used in operating activities(145)(812)(146)Funds Flow from Operations2(195)(74)(127)Basic per share(0.00)(0.00)(0.02)Diluted per share(0.00)(0.00)(0.02)Acquisitions---Total assets30,05431,714245Total non-current financial liabilities11,48211,666-Total long-term debt, including current portion12,12012,168-Shareholders' equity3,4125,909229Weighted average common shares outstanding (000s) – basic360,52160,5215,276Weighted average common shares outstanding (000s) – diluted360,52160,5215,276Common shares outstanding (000s), end of period460,52160,5215,2761
"Netbacks" are non-GAAP financial measure calculated per unit of production. "Operating Netback", and "Adjusted Funds Flow Netback" do not have standardized meanings under IFRS Accounting Standards. See " Non-GAAP Financial Measures " section
2
"Funds Flow from Operations" ("FFO") does not have a standardized meaning under IFRS Accounting Standards. See "Non-GAAP Financial Measures".
3
Common shares outstanding have been adjusted as a result of the Share Consolidation.
READER ADVISORIES
In this press release, all references to "$" are to Canadian dollars.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Fiddlehead Resources Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2025/30/c7899.html
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
25 minutes ago
- Business Wire
E3 Lithium Provides Progress Update for the Demonstration Facility
CALGARY, Alberta--(BUSINESS WIRE)--E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), 'E3', 'E3 Lithium' or the 'Company,' a leader in Canadian lithium, is pleased to provide a progress update on its Demonstration Facility ('Demo Facility'). The Demo Facility is planned to be brought on stream in three phases through the second half of 2025 and into 2026. The lithium extraction equipment comprising of the 30-column Direct Lithium Extraction (DLE) system (the '30-Column System'), as well as the purification and concentration equipment is now fully fabricated and undergoing final checks. The heart of the lithium production equipment is comprised of five separate skids, each containing a specific operation: Skids one and two host the 30-columns and the value control for the DLE system, skids 3 and 4 host the filtration and purification equipment and skid 5 houses the control center. The skids are expected to arrive and be assembled on site in the Clearwater Project area over the next six to eight weeks. E3 Lithium has also received the sorbent for the DLE columns and completed the majority of the payments for this equipment. Following arrival on site, the equipment will be assembled and undergo operational and safety checks, followed by final leak checks. Phase 1 will use brine hosted on site for the commissioning and operation of the 30-column system equipment to produce battery-grade lithium carbonate. It is expected that shortly after the drilling of the wells in Phase 2, the production well will be tied directly into the 30-column equipment and operate using a 'live' brine feed. Operation of a fully integrated system will enable E3 Lithium to optimize the process for factors such as recovery and flow rates and will provide important data for use in the design and costing of the commercial facility. The lithium carbonate produced will be used for customer interrogation and to potentially begin pre-qualification. Each phase of the Demo Facility is an important step towards validating the process technology and E3 Lithium's ability to produce battery-grade lithium carbonate from Leduc Brines at scale. The key objective of the Demo Facility is to de-risk the project design for E3 Lithium's full commercial scale Clearwater Project as the Company progresses towards completion of the Feasibility Study and securing of project financing. 'The team is very excited to see the equipment arrive on site,' commented E3 Lithium's CEO, Chris Doornbos. 'The Demo Facility will be one of the few systems of this kind globally to operate at this scale. It is a significant achievement for E3 Lithium to turn this design into a reality, and a major step forward to see it operate in the very near future.' Preparation for Phase 3 will increase as the first phase begins field operations and is expected to be installed in early 2026. ON BEHALF OF THE BOARD OF DIRECTORS Chris Doornbos, President & CEO E3 Lithium Ltd. About E3 Lithium E3 Lithium is a development company with a total of 16.2 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated 1 as well as 0.9 million tonnes LCE Inferred mineral resources 2 in Alberta and 2.5 million tonnes LCE Inferred mineral resources 3 in Saskatchewan. The Clearwater Pre-Feasibility Study outlined a 1.13 Mt LCE proven and probable mineral reserve with a pre-tax NPV8% of USD 5.2 Billion with a 29.2% IRR and an after-tax NPV8% of USD 3.7 Billion with a 24.6% IRR 1. 1: The Clearwater Project NI 43-101 Pre-Feasibility Study, effective June 20, 2024, is available on the E3 Lithium's website ( and SEDAR+ ( 2: The mineral resource NI 43-101 Technical Report for the North Rocky Property, effective October 27, 2017, identified 0.9 Mt LCE (inferred) and is available on the E3 Lithium's website ( and SEDAR+ ( 3: The mineral resource NI 43-101 Technical Report for the Estevan Lithium District, effective May 23, 2024, identified 2.5 Mt LCE (inferred) and is available on the E3 Lithium's website ( and SEDAR+ ( Unless otherwise indicated, Kevin Carroll, P. Eng., Chief Development Officer and a Qualified Person under National Instrument 43-101, has reviewed and is responsible for the technical information contained on this news release. Forward-Looking and Cautionary Statements This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions or forward-looking information within the meaning of applicable securities laws. Forward-looking statements are frequently identified by such words as 'believe', 'may', 'will', 'plan', 'expect', 'anticipate', 'estimate', 'intend', 'project', 'potential', 'possible' and similar words referring to future events and results. Forward-looking statements are based on the current opinions, expectations, estimates and assumptions of management in light of its experience, perception of historical trends, and results of the PFS, but such statements are not guarantees of future performance. In particular, this news release contains forward-looking information relating to: the estimated mineral resources and mineral resources at the Clearwater Project; expectations regarding the PFS, including statements regarding the results of the PFS and interpretations thereof; expectations concerning the Clearwater Project, including extraction, production, pretreatment, purification, volume reduction and conversion process and features and the expected outcomes thereof; the expected economic performance of the Clearwater Project, including capital costs, operating costs, water usage, land use and carbon emissions; statements regarding the Company's strategy for minimizing environmental impact and liquid waste and maximizing water reuse, with no planned tailings or waste piles; the potential for a secondary revenue stream should the Company be able to sell the calcium carbonate generated during the production of lithium hydroxide; plans and objectives of management for the Company's operations and the Clearwater Project; and the inherent hazards associated with mineral exploration and mining operations. In preparing the forward-looking information in this news release, the Company has applied several material assumptions, including, but not limited to, that any additional financing needed will be available on reasonable terms; the exchange rates for the U.S. and Canadian currencies will be consistent with the Company's expectations; that the current exploration, development, environmental and other objectives concerning the Clearwater Project can be achieved and that its other corporate activities will proceed as expected; that the current price and demand for lithium will be sustained or will improve; that general business and economic conditions will not change in a materially adverse manner and that all necessary governmental approvals for the planned activities on the Clearwater Project will be obtained in a timely manner and on acceptable terms; the continuity of the price of lithium. All forward-looking information (including future-orientated financial information) is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of emerging lithium extraction technologies which have not yet been tested or proven on a commercial scale or on the Company's brine, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in estimated mineral reserves or mineral resources; future prices of lithium and other metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; the Company's lack of operating revenues; currency fluctuations; risks related to dependence on key personnel; estimates used in financial statements proving to be incorrect; competitive risks and the availability of financing, as described in more detail in our recent securities filings available under the Company's profile on SEDAR+ at Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
Yahoo
32 minutes ago
- Yahoo
Edge Total Intelligence Announces Normal Course Issuer Bid
Arlington, Virginia--(Newsfile Corp. - June 2, 2025) - Edge Total Intelligence Inc. (TSXV: CTRL) (OTCQB: UNFYF) (FSE: Q5i) (the "Company", "edgeTI") is pleased to announce today its intention to make a normal course issuer bid (the "Bid") to purchase for cancellation, from time to time, as it considers advisable, up to 2,659,184 of its issued and outstanding subordinate voting shares, being approximately 5% of the Company's currently outstanding subordinate voting shares and approximately 7.26% of 36,628,834 which represents the Company's Public Float (as that term is defined in the policies of the TSX Venture Exchange (the "Exchange"). The Bid will commence on June 6, 2025, and will terminate on June 5, 2026, or such earlier time as the Bid is completed or at the option of the Company. Ventum Financial Corp. of Calgary, Alberta will conduct the Bid on behalf of the Company. The Bid will be conducted in accordance with applicable securities laws and the policies of the Exchange. Purchases will be made on the open market through the facilities of the Exchange. The price which the Company will pay for any subordinate voting shares purchased by it will be the prevailing market price of such subordinate voting shares on the Exchange at the time of such purchase. The purchase of the subordinate voting shares under the Bid is being funded from existing working capital. In accordance with Exchange policies, the Company will include a summary of the Bid in the management information circular to be mailed to shareholders of the Company in respect of its next meeting of shareholders. The Company believes that purchases of its subordinate voting shares pursuant to the Bid may contribute to the facilitation of an orderly market and is in the best interests of the Company and its shareholders. In the event that the Company believes that its subordinate voting shares begin trading in a price range that does not adequately reflect their underlying value based on the Company's business prospects, growth and financial position, the Company may purchase subordinate voting shares pursuant to the Bid. About edgeTI edgeTI helps customers sustain situational awareness and accelerate action with its real-time digital operations software, edgeCore™ that unites multiple software applications and data sources into one immersive experience called a Digital Twin. Global enterprises, service providers, and governments are more profitable when insight and action are united to deliver fluid journeys via the platform's low-code development capability and composable operations. With edgeCore, customers can improve their margins and agility by rapidly transforming siloed systems and data across continuously evolving situations in business, technology, and cross-domain operations - helping them achieve the impossible. Website: LinkedIn: YouTube: For more information, please contact: Nick Brigman, Corporate SecretaryPhone: 888-771-3343 Email: ir@ Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary & Forward-Looking Statements This press release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including, but not limited to, statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including the statement that the Company will complete the purchases of the subordinate voting shares pursuant to the Bid and that the purchases made pursuant to the Bid are expected to benefit all persons who continue to hold subordinate voting shares are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including, but not limited to, that the Company will be able to complete the purchases of the subordinate voting shares pursuant to the Bid and that the purchases made pursuant to the Bid will benefit all persons who continue to hold Shares. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, that the Company will not be able to complete the purchases of the subordinate voting shares pursuant to the Bid and that the purchases made pursuant to the Bid will not benefit all persons who continue to hold subordinate voting shares. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. To view the source version of this press release, please visit
Axios
3 hours ago
- Axios
Scoop: Apple to appeal EU requirement to share info with tech rivals
Apple filed an appeal to the European Commission's specifications around how the company complies with its interoperability requirements, which compel it to share user information with outside developers as part of the Digital Markets Act, per a source familiar with the situation. Why it matters: Apple continues to push back forcefully against requirements imposed by the DMA, which the company has said forces it to give up its intellectual property and compromise user privacy. The deadline to appeal this particular requirement was May 30. How it works: The interoperability requirements are meant to give other device manufacturers and app developers access to Apple features that are normally exclusive to Apple products, including WiFi pairing and notifications on non-Apple smartwatches and headsets. Apple and Meta were the first companies to be hit with DMA fines in April, as Axios first reported. Apple put out a report last December arguing that the DMA's interoperability reports could be abused and expose private user information. What they're saying: "We design our technology to work seamlessly together, so it can deliver the unique experience our users love and expect from our products. The EU's interoperability requirements threaten that foundation, while creating a process that is unreasonable, costly, and stifles innovation," an Apple spokesperson told Axios. "These requirements will also hand data-hungry companies sensitive information, which poses massive privacy and security risks to our EU users." Per the Apple spokesperson, as allowed under the DMA's interoperability requirement, companies including Meta, Google, Garmin and Spotify have requested from Apple user notification content and stored WiFi networks, "giving them the ability to access personal information that even Apple doesn't see." The spokesperson added, "In the end, these deeply flawed rules that only target Apple—and no other company—will severely limit our ability to deliver innovative products and features to Europe, leading to an inferior user experience for our European customers." The other side: Companies that rely on the App Store to distribute their products have welcomed the DMA's requirements of Apple, saying they are long overdue for developers and other businesses to offer customers better features on their apps and devices.
