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Highlights
For the three-month period ended June 30, 2026, the Company reported:
- Revenue of $51.5 million (Q2 2025: $nil million);
- Net income of $3.2 million or $0.02 per share (basic and diluted) (Q2 2025: net loss of $0.8 million or (negative $0.01) per share (basic and diluted));
- EBITDA1 of $11.4 million (Q2 2025: negative EBITDA of $0.8 million);
- Adjusted EBITDA1 of $12.6 million (Q2 2025: negative adjusted EBITDA of $0.6 million);
- Cash provided by operating activities was $1.3 million (Q2 2025: $0.1 million).
- In connection with the acquisition of Eagle and Eagle Mining US Ltd., the Company received a cash payment of $11.5 million during Q2 2026 pursuant to a working capital adjustment in accordance with the share purchase agreement between the Company and Lundin Mining Corporation;
- Capitalized exploration and evaluation costs on the Tamarack Nickel-Copper-Cobalt Project for the three months ended June 30, 2026, amounted to $5.3 million (Q2 2025: $5.0 million).
As at June 30, 2026, the Company reported:
- Cash, cash equivalents, treasury bills, and term deposits of $46.6 million (December 31, 2025 - $25.4 million);
- Working capital of $61.3 million (December 31, 2025 - $19.3 million).
As at August 13, 2026, the Company reports cash and cash equivalents of $45.3 million.
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