Carbon Streaming Corporation (TSE:NETZ) has released an update.
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Carbon Streaming Corporation reported significant losses in its first quarter of 2024, with a revaluation loss of $33.1 million primarily due to the Rimba Raya project write-down, and a net loss of $35.8 million. Despite the losses, the company emphasized improvements in operational efficiency and operating cash flow, and remains debt-free with $49.0 million in cash. The company is focusing on enhancing cash flows, operational efficiency, and supporting project partners while exploring legal options to protect their investments.
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