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Foremost Clean Energy Ltd. (FAT) Financials

CSE: FAT · Uranium, Lithium · Exploration stage

Foremost Clean Energy (NASDAQ: FMST) (CSE: FAT) is an emerging North American uranium and lithium exploration company with an option to earn up to 70% interest in 10 prospective uranium properties spanning over 330,000 acres in the prolific, uranium-rich Athabasca Basin.  As the demand for carbon-free energy continues to accelerate, domestically mined uranium and lithium are poised for dynamic growth, playing an important role in the clean energy mix of the future. Foremost’s uranium projects are at different stages of exploration, from grassroots to those with significant historical exploration and drill-ready targets.  Its mission is to create significant discoveries, alongside and in collaboration with Denison Mines (TSX:DML, NYSE American: DNN), through systematic and disciplined exploration programs. Foremost also maintains a secondary portfolio of premier lithium projects at different stages of development across 55,000+ acres across Manitoba and Quebec. For further information please visit the company’s website at www.foremostcleanenergy.com.

Foremost Clean Energy Ltd. financial statements

Key figures read from 19 of 19 financial statement filings, Jul 29, 2014 to Aug 11, 2026. Each column is the period as the company first filed it.

Balance sheet: annual key figures

Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.

Mar 2026Mar 2025Mar 2024Mar 2023Mar 2022
Cash and equivalentsC$6,342,205C$5,005,346C$998,262C$574,587C$235,455
Short-term investmentsC$1,262,376C$0———
Total current assetsC$7,094,395*C$5,360,540*C$1,485,213*C$795,349C$434,117
Total current liabilities———C$2,912,822C$1,101,946
Working capital———(C$2,117,473)(C$667,829)
Exploration and evaluation assetsC$30,653,428C$21,324,785C$15,094,413C$12,477,791C$7,191,122
Total assetsC$39,341,497C$27,741,039C$16,598,857C$13,300,444C$7,918,078
DebtC$0C$521,368C$1,138,520C$1,256,715C$47,500
Total liabilitiesC$3,838,299C$3,248,777C$3,389,320C$2,912,822C$1,176,332
Shareholders' equityC$35,503,198C$24,492,262C$13,209,537C$10,387,622C$6,741,746

* Calculated from the statement's own lines: the company did not print this total with a label.

Income statement: annual key figures

Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.

FY Mar 2026FY Mar 2025FY Mar 2024FY Mar 2023FY Mar 2022
General and administrativeC$578,298C$466,664C$388,491C$493,004C$741,166
Share-based compensationC$1,237,739C$872,879C$910,700C$815,428C$2,482,219
Impairments and write-downsC$5,000C$0(C$1,000)(C$48,000)—
Net income (loss)(C$6,898,108)(C$3,615,375)(C$4,472,170)C$956,578(C$4,150,922)

Cash flow statement: annual key figures

Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.

FY Mar 2026FY Mar 2025FY Mar 2024FY Mar 2023FY Mar 2022
Operating cash flow(C$7,593,214)(C$3,780,394)(C$3,794,764)(C$2,476,109)(C$1,402,469)
Investing cash flow(C$8,758,206)(C$2,673,424)(C$2,344,600)(C$797,824)(C$891,408)
Financing cash flowC$17,688,279C$10,460,902C$6,563,039C$3,613,065C$2,137,119
Exploration spending (capitalized)(C$8,785,291)(C$2,416,974)(C$2,781,022)(C$4,963,526)(C$1,291,408)
Proceeds from share issues——C$7,047,668C$1,661,807C$592,365
Change in cashC$1,336,859C$4,007,084C$423,675C$339,132(C$156,758)
Cash at end of periodC$6,342,205C$5,005,346C$998,262C$574,587C$235,455

No financings are on record for Foremost Clean Energy Ltd. yet.

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