viewLeading Edge Materials Corp.

Leading Edge Materials' strategic review continues as it posts first-quarter numbers

In January this year, the Vancouver-based resource firm commissioned the review

Woxna mine
Leading Edge has the Woxna graphite mine in Sweden, pictured here

Leading Edge Materials Corp (CVE:LEM) (OTCQB:LEMIF) posted results for its first quarter to end January, as it continues to carry out a strategic review of the business.

In January this year, the Vancouver-based resource firm commissioned the review to assess how to accelerate project execution and enhance the company's portfolio value.

LEM holds the flagship Woxna graphite mine in Sweden on a "production-ready" basis. It also owns 100% of the Norra Kärr REE (rare earth elements) project and has the Bergby lithium site.

READ: Leading Edge Materials shares up as firm updates on strategic review which includes opportunities for its Woxna graphite mine in Sweden

In a statement, the firm said the review had so far highlighted that the combination of discovery-stage and development-stage assets may present competing requirements.

"The board therefore resolved to compare opportunities for assets, including the potential to transition Woxna graphite mine into a freestanding European company," it said.

It added though that any recommendation from the review is based on LEM continuing to hold significant exposure to the success of the Woxna graphite mine as a future anode supplier, while still enabling resources to be allocated to advance other projects.

Despite weak investor sentiment in resource markets, the firm noted it did raise around $1.68 million via a private placing and progressed development and discovery activities on a number of projects.

Its net loss of $849,079 narrowed compared with a loss of around $1.1 million for the preceding quarter to October 31, 2018 and less than the loss of around $1.9 million in the first quarter of 2018.

The decrease in loss was partially attributed to exploration work associated with the exploration alliance in Romania in the fourth quarter of 2018,  the company said.

Contact Giles at [email protected]

Quick facts: Leading Edge Materials Corp.

Price: - -

Market: TSX-V
Market Cap: -

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Leading Edge Materials Corp. named herein, including the promotion by the Company of Leading Edge Materials Corp. in any Content on the Site,...



Leading Edge Materials provide update as demand for electric vehicles in...

Leading Edge Materials (CVE:LEM) CEO Mark Saxon joined Steve Darling from Proactive Investors Vancouver to talk about an engineering study on the demonstration plant and what it means for the company Saxon also telling Proactive what has been happening in the EV and battery space in...

on 17/5/19

2 min read