Borealis Mining Company (BOGO) Q3 2026 earnings summary

Executive summary

• Achieved record quarterly revenue of US $6.06 million for the three months ended April 30, 2026, up 329.6% from the previous quarter and 296% year-over-year.

• Gross profit reached a record US $1.83 million, up 195% from the preceding quarter.

• Net loss for the quarter was US $0.78 million, showing significant improvement as production and revenue increased.

• Mining, crushing, and stacking activities expanded across multiple open pits, with 726,000 tons mined and 664.8 ounces of gold sold.

• Strong balance sheet with US $18.87 million in cash and US $26.61 million in working capital at quarter end.

Financial highlights

• Nine-month revenue totaled US $9.02 million, with gross profit of US $3.34 million.

• Work-in-progress inventory increased to US $7.39 million, supporting future gold recovery.

• Shareholders' equity stood at US $17.50 million as of April 30, 2026.

Outlook and guidance

• Focus remains on increasing mining and crushing rates, gold production, and operating efficiencies at Borealis Mine.

• Ongoing engineering, metallurgical, geotechnical, and permitting activities at Sandman Gold Project to support future development.

• Management believes the company is well positioned for continued growth through production ramp-up and project advancement.