Quarterly ResultMay 15, 2026, 03:27 PM
Nicola Mining Q1 Milling Revenue $1.5M; Equity Turns Positive
AI Summary
Nicola Mining Inc. reported a significant increase in milling revenue to $1.5 million for the three months ended March 31, 2026, achieving a positive gross margin of $366,023. The company also saw its shareholders' equity turn positive to $750,085 from a deficit. Despite these operational improvements, the net loss for the period widened to $1.01 million. Nicola successfully completed a private placement for $4.96 million and, subsequent to quarter-end, closed a US public offering raising US$6.9 million, while also commencing its 2026 exploration drilling program.
Key Highlights
- Milling revenue increased to $1,502,380 in Q1 2026 from $6,398 in Q1 2025.
- Gross margin turned positive at $366,023 in Q1 2026, compared to a $(384,961) loss in Q1 2025.
- Shareholders' equity moved from a deficit of $(3,349,763) to a positive $750,085.
- Net loss for the period increased to $(1,015,084) in Q1 2026 from $(475,808) in Q1 2025.
- Cash and cash equivalents rose to $2,454,290 at March 31, 2026, from $1,698,401 at Dec 31, 2025.
- Completed a private placement on January 29, 2026, raising gross proceeds of $4,960,800.
- Subsequent to quarter-end, closed a US public offering for US$6,000,000 and an additional US$900,000.
- Commenced the 2026 Exploration Diamond Drilling Program at New Craigmont Copper Project.
Price Impact