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Vision Lithium Inc. Management Reports 2025
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Management Reports
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VISION
LITHIUM
MANAGEMENT'S DISCUSSION & ANALYSIS
FOR THE SIX-MONTH PERIOD ENDED
FEBRUARY 28, 2025
Vision Lithium Inc.
MD&A for the six-month period ended February 28, 2025
SCOPE OF MANAGEMENT'S FINANCIAL ANALYSIS
The following Management's Discussion & Analysis ("MD&A") dated April 17, 2025, is to be read in conjunction with the interim condensed unaudited financial statements for the three and six-month period ended February 28, 2025 and the audited financial statements as at August 31, 2024 of Vision Lithium Inc. (the "Company" or "VLI") as well as with the accompanying notes. The interim condensed unaudited financial statements for the three and six-month period ended February 28, 2025 are prepared under the International Financial Reporting Standards (IFRS). Unless otherwise indicated, all amounts are expressed in Canadian dollars. The objective of this MD&A is to allow the reader to assess our operating and exploration results as well as our financial position for three and six-month period ended February 28, 2025 compared to the same period last year.
The Company discloses, on a regular basis, additional information on its operations, which is recorded on the System for Electronic Document Analysis and Retrieval (SEDAR+) in Canada at: www.sedarplus.ca.
FORWARD-LOOKING STATEMENTS
This document may contain forward-looking statements that reflect management's current expectations with regards to future events. Such forward-looking statements are subject to certain factors and involve a number of risks and uncertainties. Actual results may differ from expected results. Factors that could cause our results, our operations and future events to change materially compared to expectations expressed or implied by the forward-looking statements include, but are not limited to, volatility in the metal prices, risks inherent to the mining industry, uncertainty regarding the mineral resource estimation and additional funding requirements and the Company's ability to obtain such funding.
INCORPORATION, NATURE OF OPERATIONS AND ONGOING EXPLORATION
Vision Lithium Inc., incorporated under the Canada Business Corporation Act, is a mineral resources exploration company, and the head office is based in Val-d'Or, Québec. The exploration sites are located mainly in the provinces of Québec, Manitoba and New Brunswick in Canada. During the period, the Company completed a geological review and a project processing trade-off study on the Sirmac lithium property. Preparations are underway for a summer exploration program on the Sirmac property.
The Company does not have any producing property. Recovery of the cost of mining assets is subject to the discovery of economically recoverable reserves, the Company's ability to obtain the financing required to pursue exploration and development of its properties, and profitable future production or the proceeds from the sale of its properties. The Company must periodically obtain new funds in order to pursue its activities. While it has always succeeded in doing so to date, there can be no assurance that it will continue to do so in the future.
The shares of the Company are listed on the TSX Venture Exchange and traded under the symbol VLI.
Vision Lithium Inc.
MD&A for the six-month period ended February 28, 2025
SUMMARY OF EXPLORATION
The Company incurred expenses totaling $56,169 before tax credits and credits on refundable exploration duties for the first quarter ended February 28, 2025 ($283,405 for the same period in 2024). In the interim condensed unaudited financial statements, those exploration costs are presented net of exploration tax credits.
Financial results
Since the Company focuses on the development of its exploration and evaluation assets, its revenues, mainly finance income, are not sufficient to cover its operational costs. Without any other available sources of revenue, the Company is unprofitable. During the year, the Company maintained a tight control of its other expenses.
The loss for the period of $481,751 reflects the current activities of the Company.
MINING PROPERTIES
The technical information in the following section was reviewed by Yves Rougerie, geologist and President & CEO of Vision Lithium Inc. Mr. Rougerie is a Qualified Person within the meaning of the term as defined in of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
The Company has an interest or option to acquire an interest in the following properties:
| Name | Status | Notes | Royalties |
|---|---|---|---|
| Sirmac, QC | Wholly owned | Lithium project | Nil |
| Godslith, MB | Wholly owned | Lithium project | 3% |
| Cadillac, QC | Wholly owned | Lithium project | Variable by sector 2% for 215 |
| Red Brook, NB | Wholly owned | Zn-Cu-Pb-Ag-Au project | 2% |
| Dôme Lemieux, QC | Wholly owned | Cu-Zn porphyry/skarn project | Nil |
| St. Stephen, NB | 50% Interest | Ni-Cu-Co project | Nil |
| Epsilon, QC | Wholly owned | Au-U project | 2% |
Vision Lithium Inc.
MD&A for the six-month period ended February 28, 2025
Sirmac Lithium Property
The Sirmac Lithium Property ("Sirmac") consists of 155 claims covering 7,670 hectares of prospective land for lithium exploration. The property is located in the Frotet-Evans greenstone belt which also hosts the Cisco deposit (QTWO) $140\mathrm{km}$ West of Sirmac and the high-grade Moblan lithium project (Sayona) $40\mathrm{km}$ East, and $160\mathrm{km}$ by road North of Chibougamau, Quebec, Canada. Multiple Lithium Cesium Tantalum ("LCT") pegmatite dikes have been identified in the Western half of the Sirmac property. These dikes spread over more than $7\mathrm{km}$ from the #5 main dike eastward to the Clapier lithium dikes. New high-grade cesium-rich LCT pegmatite dikes were recently discovered in the southern area of the property.
Following a structural geological review of the property in 2024, Innovexplo identified an area of anomalous LCT values in the southern area of the property. A field visit in late fall led to the discovery of two narrow pegmatite dikes in contact with basalts. This new area of mineralized pegmatites is located approximately $10\mathrm{km}$ SE of the #5/Main Dike. The dikes outcrop minimally, and their size and extent are not currently known. However, spodumene was observed in both dikes and representative samples were taken from each site with the following results:
Figure 1. Grab sample Assay results
| Grab sample | Cesium ppm | Cs2O* % | Lithium ppm | Li2O* % | Tantalum ppm | Rubidium ppm |
|---|---|---|---|---|---|---|
| Pegmatite 1 | 13 150 | 1.39 | 3 230 | 0.695 | 201 | 6 010 |
| Pegmatite 1 | 18 300 | 1.94 | 860 | 0.185 | 264 | 4 610 |
| Basalt 1 | 179 | 0.02 | 410 | 0.088 | 1 | 99 |
| Pegmatite 2 | 8 410 | 0.89 | 2 880 | 0.620 | 257 | 5 370 |
| Basalt 2 | 1 320 | 0.14 | 1 290 | 0.278 | 1 | 961 |
Note: Cs2O% = (Cs ppm/10 000) 1.06; Li2O% = (Li ppm/10 000) 2.153
The very high-grade Cesium results indicate these dikes are highly fractionated LCT pegmatites with the potential of hosting economic Cesium mineralization. Although not observed, the mineral Pollucite, the principal mineral of Cesium, is likely present. The dikes also exhibit highly anomalous values for Lithium, Tantalum and Rubidium. These results are similar in many respects to values reported from the producing Tanco mine in Manitoba and the Case Lake exploration project in Eastern Ontario, the two most significant Cesium occurrences in Canada. The highly anomalous values in the basalt samples for Cesium and Lithium further indicate a strong alteration halo surrounding the pegmatite dikes. This suggests the dikes are potentially larger/wider at depth and/or along strike. Other dikes are likely present under overburden cover in the vicinity of the new dikes and as far away as $5\mathrm{km}$ SW, as indicated by geochemical LCT anomalies as well as unsampled pegmatite occurrences in historical drilling. A whole new corridor/swarm of LCT dikes is possible in this area, favourable for both Cesium and Lithium-Tantalum economic deposits. Future exploration will focus on this area for this obvious potential.
Vision Lithium Inc.
MD&A for the six-month period ended February 28, 2025
Figure: Large outcrop ( $>100\mathrm{m}$ ) of mineralized LCT dikes saddling Winsome-Vision property boundary
At the same time as the new discovery was made by Vision, Winsome Resources discovered a large outcrop of mineralized pegmatites $1.2\mathrm{km}$ NNE from Vision's discovery. The Winsome discovery outcrop clearly continues across the property boundary onto Vision Lithium ground. The press release by Winsome announcing their discovery reported channel samples of up to $1.74\%$ Li2O over 16 metres and significant Cesium as well.
Vision Lithium Inc.
MD&A for the six-month period ended February 28, 2025
A two-phase exploration program is planned for 2025 for the Sirmac property. Initially, a ground program covering the new Li-Cs-Ta area in the South will take place in May-June using helicopter support. This will aim to evaluate the new discoveries as well as prospect for new outcrops. We believe the dikes discovered to date occur in a structural corridor that the property covers for over $5\mathrm{km}$ . Field work will be compiled and interpreted to plan an initial drill program testing high priority targets later in the summer. Outcrop stripping, mapping and channel sampling will also be planned based on results.
A drill program is also planned for the Sirmac #5/main dike area. This program aims to test for large mineralized LCT dikes at depth. Almost all drilling to date in this area has been shallow targeting based on the outcropping main dike. However, based on Moblan (Sayona) and Cisco (QTwo) deposits in the same greenstone belt, where large, mineralized dikes are continuous down below 300 metres vertical depth, we believe large, mineralized pegmatite dikes could also occur below the existing main dike at Sirmac. A series of $300+$ metre holes are planned to test this hypothesis over a $1+$ km strike perpendicular to the existing dike system.
All planned work is contingent on sufficient funding going forward.
Vision Lithium Inc.
MD&A for the six-month period ended February 28, 2025
SELECTED FINANCIAL INFORMATION
| Three-month peridod ended February 28, 2025 | Three-month peridod ended February 29, 2024 | Six-month peridod ended February 28, 2025 | Six-month peridod ended February 29, 2024 | |
|---|---|---|---|---|
| $ | $ | $ | $ | |
| Operating expenses | 309,710 | 322,493 | 532,664 | 609,175 |
| Net loss for the period | (366,435) | (831,167) | (481,751) | (1,217,797) |
| Basic and diluted net loss per share | (0.00) | (0.00) | (0.00) | (0.00) |
| Weighted average number of shares in circulation | 274,204,336 | 256,852,485 | 268,245,671 | 256,580,232 |
| Statement of financial position as at February 28, 2025 $ | Statement of financial position as at August 31, 2024 $ | |||
| --- | --- | --- | ||
| Cash | 330,472 | 78,057 | ||
| Exploration and evaluation assets | 16,567,473 | 16,516,722 | ||
| Total assets | 17,566,108 | 17,233,429 | ||
| Current liabilities | 1,151,007 | 620,333 | ||
| working capital (Negative) | (187,893) | 44,218 | ||
| Equity | 16,402,327 | 16,592,165 |
QUARTERLY FINANCIAL INFORMATION SUMMARY
| Quarter | Income cost | Financial cost | Operating expenses | Write-off of exploration and evaluation assets | Gain (Loss) for the period | Loss per share |
|---|---|---|---|---|---|---|
| 2025-02-28 | 1,055 | 541 | 309,710 | - | (366,435) | (0.00) |
| 2024-11-30 | 739 | 607 | 222,954 | 5,539 | (115,315) | (0.00) |
| 2024-08-31 | 2,144 | 656 | 1,586,497 | 1,374,277 | (1,529,944) | (0.01) |
| 2024-05-31 | 662 | 1 026 | 231,832 | - | (612,102) | (0.00) |
| 2024-02-29 | 700 | 556 | 322,493 | - | (831,167) | (0.00) |
| 2023-11-30 | 692 | 641 | 286,683 | 325 | (386,632) | (0.00) |
| 2023-08-31 | 893 | 216 | 265,708 | 2,320 | (265,140) | (0.01) |
| 2023-05-31 | 203 | 123 | 299,378 | - | (299,298) | (0.00) |
Vision Lithium Inc.
MD&A for the six-month period ended February 28, 2025
Results of operations
Current quarter
During the three-month period ended February 28, 2025, the Company reported a net loss of $366,435 (or $0.00 per share) compared to a net loss of $831,167 (or $0.00 per share) during the three-month period ended February 29, 2024.
Operational expenses decreased by $12,783 amounting to $309,710 ($322,493 as at February 29, 2024).
Employe benefits expense include no share-based payments ($nil as at February 29, 2024).
During the six-month period ended February 28, 2025
During the six-month period ended February 28, 2025, the Company reported a net loss and comprehensive loss of $481,751 (or $0.00 per share) compared to a net loss and comprehensive loss of $1,217,797 (or $0.01 per share) during the three-month period ended February 29, 2024.
Operational expenses decreased by $76,511 amounting to $532,664 ($609,175 in 2024).
During the six-month period ended February 28, 2025, employee benefits expense include no share-based payments ($nil as at February 29, 2024).
Statements of financial position
As at February 28, 2025, cash and guaranteed investment certificates includes an amount of $483,258 which has to be expensed as exploration expenses before December 31, 2025 (nil$ as at August 31, 2024).
As at February 28, 2025, the Company had total assets of $17,566,108 compared to $17,233,429 as at August 31, 2024. This increase of $332,679 is described in the following paragraphs:
Current assets
The current assets amount to $963,114 as at February 28, 2025, compared to $664,551 as at August 31, 2024. They are mainly composed of the cash at $330,472, the guaranteed investment certificate at $78,338, the consumption tax receivable at $13,789, tax credits receivable at $131,100, prepaid expenses at $23,239 and marketable securities in quoted mining exploration companies at $386,176 compared to respectively $78,057, $77,171, $18,842, $116,929, $31,187 and $340,990 as at August 31, 2024. The increase in cash mainly reflects the issuing of share by private placement, less current expenses.
Exploration and evaluation assets
The exploration and evaluation assets amount to $16,567,473 as at February 28, 2025 compared to $16,516,722 as at August 31, 2024. The increase of $50,751 represents mainly the exploration work totaling $56,169 before tax credit and refundable credit on duties.
Vision Lithium Inc.
MD&A for the six-month period ended February 28, 2025
The following tables detail the allocation of the exploration expenditures between the properties:
Analysis of exploration work by property:
| Description | Dôme Lemieux $ | Sirmac $ | Cadillac $ | Red Brook $ | Décelles $ | Total $ |
|---|---|---|---|---|---|---|
| Balance as at August 31, 2024 | 683,679 | 2,010,726 | - | 840,948 | - | 3,535,353 |
| Additions | ||||||
| Drilling | - | 2,141 | 504 | - | - | 2,645 |
| Geology | 3,020 | 32,016 | 7,829 | - | 1,612 | 44,477 |
| Amortization of property and equipment | 64 | 764 | 187 | - | 47 | 1,062 |
| Amortization of right-of-use assets | - | 3,077 | 3,252 | - | 1,266 | 7,595 |
| Interests on lease obligations | - | 254 | 136 | - | - | 390 |
| Sub-total | 3,084 | 38,252 | 11,908 | - | 2,925 | 56,169 |
| Write-off of exploration costs | - | - | - | - | (1,445) | (1,445) |
| 3,084 | 38,252 | 11,908 | - | 1,480 | 54,724 | |
| Tax credit | - | (10,796) | (1,895) | - | (1,480) | (14,171) |
| Net expense for the period | 3,084 | 27,456 | 10,013 | - | - | 40,553 |
| Balance as at February 28, 2025 | 686,763 | 2,038,182 | 10,013 | 840,948 | - | 3,575,906 |
Liabilities
At February 28, 2025, current liabilities were $1,151,007 compared to $620,333 at August 31, 2024. The increase of $530,674 mainly reflects to the increase in trade and other payables of $391,403 and liability related to flow-through shares of $146,659.
Equity
As at February 28, 2025, shareholders' equity was $16,402,850 compared to $16,592,165 as at August 31, 2024 for a decrease totaling $189,838. The negative change mainly includes the net issuance of flow-through shares of $291,913 and the current activities of the Company for a total of ($481,751).
Cash Flows
Cash flows used in operating activities were $198,633 and $944,805 respectively, for the six-month periods ended February 28, 2025 and February 29, 2024. These cash flows represent the net loss of each period adjusted for non-cash items from operating activities. During the six-month periods ended February 28, 2025, non-cash items with a positive impact on the cash flows totaled $334,551. Those items were mainly related to the changes in working capital net change for $319,887. During the six-month periods ended February 29, 2024, non-cash items with a positive impact on the cash flows totaled $623,425. Those items were mainly related to net change in fair value of marketable securities in quoted mining exploration companies for $609,818. Items that had a negative impact on the cash flows as February 28, 2025 totaled $51,434 and were mainly related to net change in fair value of marketable securities in
Vision Lithium Inc.
MD&A for the six-month period ended February 28, 2025
quoted mining exploration companies for $45,186. During the six-month periods ended February 29, 2024 totaled $355,796 and were mainly related to the changes in working capital items for $350,229.
Cash flows (used in) from investing activities were ($80,595) and 772,116 respectively, for the six-month periods ended February 28, 2025 and February 29, 2024. For the six-month periods ended February 28, 2025, the cash flows were related to the additions to exploration and evaluation assets. For the six-month periods ended February 29, 2024, those cash flows reflect the disposal of the Cadillac property's option totaling $1,025,000.
Cash flows from financing activities were $531,643 and $269,466 respectively for the six-month periods ended February 28, 2025 and February 29, 2024. For the six-month periods ended February 28, 2025, the cash flows were mainly related to the issuing of flow-through shares by private placement for $500,000 and the net change in due to directors for $99,966. For the six-month periods ended February 29, 2024, the cash flows were related to the exercise of warrants of $330,000 and the reimbursement of the loan for $40,000.
FINANCIAL CONDITIONS AND LIQUIDITY
The Company is an exploration company. Its capacity to assume the continuity of its operations depends on its ability to obtain new funds. Although the Company has been successful in doing so in the past, there is no guarantee that it will succeed in the future.
The Company’s financing comes mostly from share issuances. The success of these issuances depends on the venture capital markets, the investors' interest in exploration companies, and the price of metals. In order to continue its exploration activities and to support its current activities, the Company has to maintain its exposure within the financial community to realize new financings. During the six-month period ended February 28, 2025, the Company completed a flow-through financing for an amount of $500,000 ($nil during the year ended August 31, 2024).
During the six-month period ended February 28, 2025, the Company had cash in the amount of $330,472 compared to $78,057 for the year ended August 31, 2024. The Company has an obligation to spend an amount of $483,528 in flow-through expenditures before December 31, 2025.
The negative working capital was ($187,893) as at February 28, 2025 compared to $44,218 as at August 31, 2024. From the management’s point of view, the following elements of the working capital may directly impact the Company’s needs for short term financing to pursue its activities: the cashing of the tax credit is unpredictable in time.
During the six-month period ended February 28, 2025, the Company did not sell any part of its investments in marketable securities in a quoted mining exploration company ($nil as at August 31, 2024).
NEW STANDARD ADOPTED
Standards, amendments and interpretations to existing standards that are not yet in effect and have not been adopted early by the Company
Vision Lithium Inc.
MD&A for the six-month period ended February 28, 2025
At the date of authorization of these financial statements, certain new standards, amendments and interpretations to existing standards have been published but are not yet in effect and have not been adopted early by the Company.
Management anticipates that all of the new measures will be adopted in the Company's accounting policy for the first period beginning after the effective date of the adoption. Information on new standards, amendments and interpretations that are expected to be relevant to the Company's financial statements is provided below. Certain other new standards and interpretations have been issued but are not expected to have an impact on the Company's financial statements.
IFRS 18 Presentation and Disclosure in Financial Statements
In April 2024, the IASB issued IFRS 18, which replaces IAS 1 Presentation of Financial Statements. IFRS 18 introduces new requirements for presentation within the statement of profit or loss, including specified totals and subtotals. Furthermore, entities are required to classify all income and expenses within the statement of profit or loss into one of five categories: operating, investing, financing, income taxes and discontinued operations.
It also requires disclosure of newly defined management-defined performance measures in a single note, subtotals of income and expenses, and includes new requirements for aggregation and disaggregation of financial information based on the identified "roles" of the primary financial statements (PFS) and the notes.
In addition, narrow-scope amendments have been made to IAS 7 Statement of Cash Flows, which include changing the starting point for determining cash flows from operations under the indirect method, from "profit or loss" to "operating profit or loss" and removing the optionality around classification of cash flows from dividends and interest.
IFRS 18 and the amendments to the other standards are effective for reporting periods beginning on or after January 1, 2027, with earlier application permitted. IFRS 18 will apply retrospectively with specific transition provisions.
The Company is currently working to identify all impacts the amendments will have on the primary financial statements and notes to the financial statements.
RISKS AND UNCERTAINTIES
The Company, like all other mining exploration companies, is exposed to a variety of financial and environmental risks as well as risks related to the very nature of its activities. It is also subject to risks related to other factors, such as the price of metals and market conditions in general.
Permits and Licenses
The Company's operations may require permits and licenses from different governmental authorities. There cannot be any assurance that the Company will obtain all the required permits and licenses in order to continue the exploration, development, and mining operations on its properties.
Metal Prices
Even if the exploration programs of the Company are successful, some factors out of the Company's control may affect the marketing of the minerals found. Historically, metal prices have largely fluctuated and are affected by many factors which are out of the Company's control, including international, economic and political trends, inflation expectations, exchange rate fluctuations, interest rates, global and regional consumption models, speculative activities and worldwide production levels. The effects of these factors cannot be precisely predicted.
Vision Lithium Inc.
MD&A for the six-month period ended February 28, 2025
Financing
The Company has incurred losses to date and does not currently have the financial resources required to finance its planned exploration. Exploration of the Company’s properties therefore depends on its ability to obtain the additional financing required.
There can be no assurance that the Company will succeed in obtaining the required funding. Failure to do so may lead to substantial dilution of its interest (existing or proposed) in its properties.
Key Personnel
The management of the Company rests on some key managers and mostly on its President / CEO. The loss of this officer could have a negative impact on the development and the success of its operations. The Company's success is linked to its capacity to attract and keep qualified personnel. Competitiveness in the mining industry is high, and the success of the Company depends mostly on the senior managers and the qualified geological personnel.
OFF-BALANCE SHEET ARRANGEMENTS
As at February 28, 2025, the Company had not concluded any off-balance sheet arrangements.
DISCLOSURE OF OUTSTANDING SHARE DATA
As at April 17, 2025, the share data are:
| Common shares issued and outstanding | 279,019,151 |
|---|---|
| Stock options (weighted average exercise price of $0.13) | 16,000,000 |
| Warrants (weighted average exercise price of $0.05) | 999,999 |
| Total fully diluted | 296,019,150 |
BASIS OF PREPARATION AND GOING CONCERN
These interim condensed financial statements have been prepared by the Company’s management in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (hereafter "IFRS Accounting Standards") and in accordance with International Accounting Standard (IAS) 34 -. They do not include all the disclosures required under IFRS for annual financial statements. The condensed interim financial statements have been prepared using the same basis of presentation, accounting policies and methods of computation as those disclosed in note 4, SIGNIFICANT ACCOUNTING POLICIES, in our financial statements for the year ended August 31, 2024. The interim financial statements do not include all the notes required in the annual financial statements.
These financial statements were prepared on a going concern basis and using the historical cost.
The Company's ability to continue as a going concern depends on its ability to realize its assets and additional financing. While it has been successful in doing so in the past, there can be no assurance it will be able to do so in the future. The Company has not yet determined whether its properties contain ore reserves that are economically recoverable.
Vision Lithium Inc.
MD&A for the six-month period ended February 28, 2025
The condensed interim financial statements do not reflect the adjustments that would be necessary to the carrying amounts of assets and liabilities, the reported amounts of revenues and expenses, and the classification of items in the statement of financial position if the going concern assumption were not appropriate, and these adjustments could be material. Management has not taken these adjustments into account because it believes in the going concern assumption.
The preparation of consolidated financial statements in accordance with IAS 34 requires the use of certain critical accounting estimates. It also requires management to exercise judgment when applying the Company's accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in note 3.
CAPITAL DISCLOSURES
The Company's objectives in managing capital are to ensure sufficient liquidity to pursue its organic growth strategy and undertake selective acquisitions. The Company manages its capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of the underlying assets. In order to maintain or adjust the capital structure, the Company may issue new shares and acquire or sell mining properties to improve its financial performance and flexibility.
The Company's capital is composed of shareholders' equity. The Company's primary uses of capital are to finance exploration expenditures and property acquisitions. To effectively manage the Company's capital requirements, the Company has in place a budgeting process to help determine the funds required to ensure the Company has appropriate liquidity to meet its operating and growth objectives.
The Company is not subject, in regards of external rules, to any requirements regarding its capital, except if the Company completes a flow-through financing of which the cash must be reserved for exploration. As at February 28, 2025 the Company had a flow-through obligation regarding cash for an amount of $483,258 ($nil as of August 31, 2024).
As at February 28, 2025 the shareholder's equity was $16,402,327 compared to $16,592,165 as at August 31, 2024.
OUTLOOK
The recent discovery of very high-grade Cesium dikes on the Sirmac property could be of great importance to the Company going forward. The discovery of similar mineralization only 1.2 km from the new discovery by Winsome Resources further increases the potential for discovery in this area of the Sirmac property by Vision. Flow through financings at the end of 2024 allow for the exploration of these new targets in the upcoming summer. It is likely more funding will be required to complete more significant exploration in 2025.
This is something the Company can build on while other commodities we are exploring for are in depressed states.
Vision Lithium Inc.
MD&A for the six-month period ended February 28, 2025
MANAGEMENT'S RESPONSIBILITY FOR FINANCIAL INFORMATION
Company's unaudited interim condensed financial statements and other financial information contained in this quarterly Management's Discussion and Analysis report are the responsibility of Company's management and have been approved by the board of directors. These unaudited interim condensed financial statements have been prepared by management in accordance with International Financial Reporting Standards. The unaudited interim condensed financial statements include certain amounts based on the use of estimates and judgments. Management has established these amounts reasonably basis in order to ensure that the unaudited interim condensed financial statements are presented fairly in all material respects.
Val-d'Or, April 17, 2025
(Signed) Yves Rougerie, President and Chief Executive Officer
(Signed) Nancy Lacoursière, Chief Financial Officer
Vision Lithium Inc.
1019 boul. des Pins
Val-d'Or (Québec) J9P 4T2
Phone: (819) 874-6200 Fax: (819) 874-6202
E-Mail: [email protected]
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