Bradda Head Lithium Ltd (BHL) has announced its management’s discussion and analysis (MD&A) for the three-month period ending May 31, 2024. This MD&A highlights the company’s operating results and financial condition.

Overview

Bradda Head Lithium Ltd was incorporated in the British Virgin Islands under the name Copper Development Corporation. The company focuses on the exploration and development of lithium mining projects in North America.

Corporate and Exploration Highlights

Arizona Sedimentary Hosted Lithium Projects

Basin Project

On March 12, 2024, the company commenced drilling at its Basin North lithium in clay project in Arizona, USA. The six-hole core drilling program was designed to expand the company’s existing Mineral Resource Estimate (MRE). The drilling was completed on May 9, 2024, producing positive visual results. The company announced a new MRE on July 1, 2024, with increased lithium carbonate equivalent (LCE) tonnage.

Basin Project Permitting Update

A Basin West drilling permit kick-off meeting was held with the BLM in April to initiate the NEPA process. This step is crucial for the company’s expansion over the Basin West target.

Wikieup Project

No significant work was undertaken during the period.

Arizona Pegmatite District

San Domingo Project

On April 8, 2024, the company released channel sampling results, including notable lithium grades. These samples will guide the next exploration phase at the San Domingo project, aiming to capitalize on lithium mineralization and resource potential.

Lithium Brine and Oil Brine Projects

Wilson and Eureka Projects

No fieldwork occurred during the last three months.

Oil Brine Projects – Pennsylvania & Texas

Legal documents were updated to secure lease positions in Pennsylvania and Texas. The company continues to monitor regional activities.

Corporate Highlights

On May 20, 2024, the company announced a settlement agreement related to fraudulent payments, resulting in a partial reimbursement.

Selected Financial Information

Key financial details for the three-month period ending May 31, 2024, are as follows:

• Total Operating Expenses: $576,593
• Net Loss: $569,408
• Cash & Cash Equivalents: $534,437

For detailed financial information, refer to the company’s website.

Liquidity and Capital Resources

As of May 31, 2024, the company had cash and cash equivalents of $534,437 and a working capital deficit of $166,102. The company aims to maintain an optimal capital structure and continues to explore funding opportunities.

Transactions with Related Parties

Transactions with related parties during this period included obtaining Directors’ and Officers’ insurance via Edgewater Associates Limited.

Critical Accounting Estimates

Management’s estimates and assumptions impact various financial statement elements. Changes in these estimates could significantly affect the company’s financial outlook.

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