Lifezone Metals Limited ( (LZM) ) has released its Q4 earnings. Here is a breakdown of the information Lifezone Metals Limited presented to its investors.
Lifezone Metals Limited, a company listed on the NYSE, specializes in cleaner and more responsible metals production and recycling, leveraging its proprietary Hydromet Technology to offer lower energy consumption and emissions compared to traditional smelting processes.
In its 2024 financial results, Lifezone Metals reported a challenging year due to fluctuating nickel prices, largely influenced by increased supply from Indonesia. Despite these challenges, the company remains focused on advancing its Kabanga Nickel Project and a U.S.-based PGM recycling project, while maintaining strict cost controls.
Key financial metrics include a cash balance of $29.3 million as of December 31, 2024, down from $49.4 million the previous year. The company experienced a net cash decrease of $20.1 million, attributed to investments in the Kabanga Nickel Project and a cost reduction program. Financing activities provided a net cash inflow of $48.4 million, primarily from convertible debentures and contributions from Glencore.
Lifezone Metals reported a net loss of $46.3 million for 2024, translating to a basic and diluted loss per share of $0.59. This reflects a significant improvement from the previous year’s loss per share of $5.34, indicating progress in managing operational costs and strategic investments.
Looking ahead, Lifezone Metals remains committed to its long-term growth strategy, focusing on completing the Kabanga Definitive Feasibility Study and further developing its projects to enhance shareholder value and capitalize on the global demand for battery metals.