The company announced that it expects to record a net loss and comprehensive loss of approximately C$2.8 million for the six months ending June 30, 2026. This represents a decrease of about 68% compared to the net loss and comprehensive loss of approximately C$8.9 million for the six months ended June 30, 2025.

Reasons for Reduced Losses

The anticipated narrowing of losses in the current period is primarily attributed to several key factors. Firstly, the company's operational costs decreased from approximately C$8.2 million in the prior corresponding period to about C$3.8 million, a reduction of C$4.4 million or about 54%. This improvement is credited to ongoing cost control and optimization measures implemented in production operations.

Secondly, impairment recoveries and write-offs decreased by roughly C$2.3 million, falling from about C$2.4 million to approximately C$0.1 million.

Thirdly, the current period recorded a gain of C$0.5 million from asset disposals, whereas no such gain was recognized in the previous period.

Offsetting Factors

These positive impacts were partially offset by other developments. Financial expenses increased by approximately C$1.5 million, or about 132%, rising from C$1.1 million to C$2.6 million.

Additionally, royalty expenses increased from about C$0.3 million to C$1.2 million, an increase of C$0.8 million. This rise is consistent with the growth in the company's commodity sales revenue during the period.