Quarterly ResultMay 14, 2026, 04:42 PM
Canagold New Polaris FS Shows $425M NPV; EA Application Filed
AI Summary
Canagold Resources reported its First Quarter 2026 results, highlighting the positive Feasibility Study for its New Polaris project, which projects an after-tax NPV of $425 million and an IRR of 30.9%. The company also made significant progress on regulatory fronts, filing its Environmental Assessment application on March 31, 2026, and seeing the project added to British Columbia's list of priority major projects on April 29, 2026. Financially, Canagold reduced its net loss to $328 thousand in Q1 2026 from $418 thousand in Q1 2025, bolstered by recent flow-through financings that increased its cash balance to $5.07 million.
Key Highlights
- New Polaris Feasibility Study shows after-tax NPV (5%) of $425 million (US$2,500 gold price).
- After-tax IRR for New Polaris is 30.9% with a 2.4-year payback period.
- Estimated pre-production capital expenditures (CAPEX) for New Polaris are $250 million (C$).
- Life of Mine (LOM) All-in Sustaining Cost (AISC) for New Polaris is US$1,247/oz payable gold.
- Filed Environmental Assessment application with BC Environmental Assessment Office on March 31, 2026.
- New Polaris project added to Government of British Columbia's list of priority major projects on April 29, 2026.
- Q1 2026 net loss was $328 thousand, an improvement from $418 thousand in Q1 2025.
- Cash balance increased to $5.07 million as of March 31, 2026, from $820 thousand at Dec 31, 2025.