Galantas Gold (GAL) Q1 2026 earnings summary

Executive summary

• Reported a net loss of $2,354,826 for Q1 2026, widening from $1,225,116 in Q1 2025.

• No sales revenue recognized for Q1 2026 or Q1 2025 as concentrate sales are offset against development assets until commercial production.

Financial highlights

• Cash outflow from operating activities before non-cash changes was $2,076,233 in Q1 2026, compared to a gain of $51,250 in Q1 2025.

• Cash balance at March 31, 2026 was $10,822,694, up from $729,387 at March 31, 2025.

• Working capital surplus of $4,961,145 at March 31, 2026, compared to a deficit of $17,274,760 a year earlier.

Outlook and guidance

• Updated mineral resource estimate for the Andacollo Project announced in May 2026, with a technical report filed.

• Brokered private placement announced to raise up to $85 million, with potential for an additional $15 million, targeting completion by May 28, 2026.