04:56 PM EST, 01/14/2025 (MT Newswires) -- Rupert Resources ( RUPRF ) after trade Tuesday said its fiscal third-quarter loss widened and provided updates on its Ikkari project.

The company reported comprehensive loss of $3.14 million, or $0.01 per share, in the quarter ended Nov.30, company with a loss of $0.31 million in the year-prior quarter. Cash and cash equivalents stood at about $46.94 million at the end of the period.

The company said in the 2024/25 season Ikkari project drilling will focus on understanding grade variability, hydrogeological conditions, and geotechnical factors to optimize the project for the definitive feasibility study, which will follow the successful completion of the Ikkari Preliminary Feasibility Study (PFS).

"The PFS for Ikkari is still expected to be published in Q1 2025 and our strong balance sheet with almost $47 million of cash provides us with good financial headroom to complete the PFS and fund this winter's exploration campaign," Chief Executive Graham Crew said.

The company's shares closed up $0.14 to $4.14 on the Toronto Stock Exchange.