XXIX Metal Cash Flow Statement

Financials in millions CAD. Fiscal year is November - October.

Millions CAD. Fiscal year is Nov - Oct.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2018
Period Ending	Oct '25 Oct 31, 2025	Oct '24 Oct 31, 2024	Oct '23 Oct 31, 2023	Oct '22 Oct 31, 2022	Oct '21 Oct 31, 2021	2020 - 2018
Net Income	-15.73	-4.86	-7.32	-3.91	0.48	Upgrade
Depreciation & Amortization	0.04	0.01	0.01	0.02	0.01	Upgrade
Loss (Gain) From Sale of Investments	-1.68	2.18	2.65	-3.88	-9.07	Upgrade
Loss (Gain) on Equity Investments	0.02	-	-	0.19	1.76	Upgrade
Stock-Based Compensation	0.6	0.42	0.15	0.91	0.08	Upgrade
Other Operating Activities	13.09	0.06	0.85	-1.73	0.19	Upgrade
Change in Accounts Receivable	0.05	0.38	-0.63	-1.04	-0.11	Upgrade
Change in Accounts Payable	-0.02	0.23	-0.06	-0.6	0.85	Upgrade
Change in Income Taxes	-	-	-	-0.03	0.03	Upgrade
Change in Other Net Operating Assets	0.16	0.01	-0.07	-0.01	-0.09	Upgrade
Operating Cash Flow	-3.47	-1.57	-4.42	-10.07	-5.87	Upgrade
Capital Expenditures	-0.17	-0.12	-	-	-0.05	Upgrade
Cash Acquisitions	0.53	-	-	-	-	Upgrade
Investment in Securities	-	-	-0.55	-	7.82	Upgrade
Other Investing Activities	-	-0.02	-0.04	-0.04	-0.02	Upgrade
Investing Cash Flow	0.36	-0.14	-0.59	-0.04	7.75	Upgrade
Issuance of Common Stock	5.46	-	1.93	1.45	14.05	Upgrade
Other Financing Activities	-	-	-	-	-0.17	Upgrade
Financing Cash Flow	5.46	-	1.93	1.45	13.89	Upgrade
Net Cash Flow	2.35	-1.71	-3.09	-8.65	15.77	Upgrade
Free Cash Flow	-3.64	-1.69	-4.42	-10.07	-5.93	Upgrade
Free Cash Flow Per Share	-0.01	-0.01	-0.03	-0.07	-0.05	Upgrade
Levered Free Cash Flow	-6.04	-0.81	-3.65	-9.67	-1.42	Upgrade
Unlevered Free Cash Flow	-6.04	-0.81	-3.65	-9.67	-1.42	Upgrade
Change in Working Capital	0.19	0.62	-0.75	-1.67	0.68	Upgrade

Source: S&P Capital IQ. Standard template. Financial Sources.