Quarterly ResultMay 14, 2026, 04:33 PM
Alaska Silver Swings to $1.23M Net Income; Repays Promissory Note
AI Summary
Alaska Silver Corp. reported a net income of $1.23 million for the quarter ended March 31, 2026, a significant improvement from a net loss of $0.86 million in the prior year. This turnaround was primarily driven by a $3.07 million gain on derivative warrant liability revaluation. The company also repaid a $1.2 million promissory note, incurring a $0.45 million loss on settlement, and converted all proportionate voting shares to subordinate voting shares, eliminating its dual-class share structure.
Key Highlights
- Net income of $1.23 million for Q1 2026, up from $0.86 million net loss in Q1 2025.
- Basic and diluted EPS of $0.01 for Q1 2026, compared to $(0.01) in Q1 2025.
- Realized a $3.07 million gain from derivative warrant liability revaluation.
- Repaid a $1.2 million promissory note, incurring a $0.45 million settlement loss.
- Cash and cash equivalents decreased to $6.43 million from $9.05 million.
- Total liabilities reduced to $6.32 million from $10.54 million.
- Converted 22.48 million proportionate voting shares to subordinate voting shares.
- Post-quarter, issued 1.05 million RSUs and 0.96 million stock options.