Quarterly ResultAug 7, 2026, 11:12 AM
Athena Gold Reports $4.98M Loss; Going Concern Warning
AI Summary
Athena Gold Corporation reported a substantial net loss of $4,978,789 for the six months ended June 30, 2026, a significant increase from the $43,927 loss in the same period last year, with basic loss per share at $0.15. The company's cash and working capital both saw considerable declines, and it recorded a large unrealized loss on investments. Management also noted material uncertainties that cast significant doubt on the company's ability to continue as a going concern, citing dependence on future financing.
Key Highlights
- Net loss for the six months ended June 30, 2026, was $4,978,789, significantly up from $43,927 in prior year.
- Basic loss per share for the six months ended June 30, 2026, was $0.15, compared to $0.00 in prior year.
- Cash and cash equivalents decreased to $1,446,033 as of June 30, 2026, from $2,839,369 at December 31, 2025.
- Working capital decreased to $2,899,500 as of June 30, 2026, from $5,783,689 at December 31, 2025.
- Unrealized loss on investments for the six months was $2,521,149, compared to a gain of $587,982 in prior year.
- Completed a 1-for-9.9 share consolidation on April 2, 2026.
- Acquired Last Bounty Gold Corp. on March 12, 2026, and sold investment in Bravada Gold Corporation on April 13, 2026.
- Changed presentation and functional currency to Canadian Dollars (CAD) effective January 1, 2026.
Price Impact
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