Quarterly ResultMay 13, 2026, 06:08 AM
First Mining Gold Q1 Net Loss Narrows to $11.02M; Sells Cameron Gold
AI Summary
First Mining Gold Corp. reported a reduced net loss of $11.02 million for Q1 2026, down from $19.09 million in Q1 2025, with basic and diluted loss per share improving to $0.01 from $0.02. The company completed the sale of its Cameron Gold subsidiary to Seva Mining, receiving $5.0 million in cash and 80.0 million Seva Mining shares, resulting in a $4.56 million gain on disposal. First Mining now holds a 47.82% interest in Seva Mining. Additionally, First Mining's ownership in the Pickle Crow project was reduced to 20% after Bellavista Resources paid $3 million cash.
Key Highlights
- Net loss for Q1 2026 was $11.02 million, a 42.3% improvement from $19.09 million in Q1 2025.
- Basic and diluted loss per share improved to $0.01 in Q1 2026 from $0.02 in Q1 2025.
- Completed sale of Cameron Gold to Seva Mining, receiving $5.0 million cash and 80.0 million Seva Mining shares.
- Recognized a $4.56 million gain on the disposal of the Cameron Gold subsidiary.
- First Mining Gold now holds a 47.82% equity interest in Seva Mining Corp.
- Received $3 million cash from Bellavista Resources, reducing Pickle Crow project ownership to 20%.
- Cash and cash equivalents were $41.86 million as of March 31, 2026.
- Mineral property expenditures increased to $8.45 million in Q1 2026.