Cadillac Mines (CADY) Q1 2026 earnings summary

Executive summary

• Report covers the three months ended March 31, 2026, for an exploration-stage mining company focused on the Kerr-Addison Mine project in Ontario.

• No producing properties or established mineral reserves; activities centered on exploration and development.

Financial highlights

• Net loss for Q1 2026 was $11.87 million, compared to $6.72 million in Q1 2025.

• Cash and cash equivalents at March 31, 2026, were $66.04 million, down from $77.06 million at December 31, 2025.

• Operating expenses rose to $14.90 million from $6.80 million year-over-year, driven by higher exploration and share-based payments.

• Weighted average shares outstanding increased to 201.46 million from 172.50 million year-over-year.

Outlook and guidance

• Company expects performance share units to vest upon going public, anticipated in the second half of 2026.

• Unspent qualifying resource expenditures from flow-through financings total $32.36 million, to be fulfilled through 2026.