Goldsky Resources (GSKR) Q2 2025 earnings summary

Executive summary

• Completed acquisition of Gold Line Resources and EMX's Nordic Business Unit, consolidating a major Scandinavian gold exploration portfolio and establishing an operational hub in Sweden.

• Expanded exploration activities in Sweden and Finland, including positive drill results at Nippas and an expanded Aida drill program from 5,000 m to 10,000 m.

• Completed geochemical and drilling programs at Harpsund, confirming a large gold anomaly and preparing for Phase 1 diamond drilling in H2 2025.

• Raised significant capital through private placements and major financings, supporting expanded exploration and operational activities.

• Increased business activity and exploration expenditures led to higher operating losses year-over-year.

Financial highlights

• Net loss for Q2 2025 was $7.54M ($0.03/share), up from $3.20M ($0.02/share) in Q2 2024; six-month loss was $13.68M ($0.05/share) vs. $3.73M ($0.02/share) prior year.

• Exploration expenses for six months ended June 30, 2025, totaled $5.87M, up from $0.38M year-over-year.

• Cash balance at June 30, 2025, was $2.7M, down from $9.57M at December 31, 2024; current assets totaled $4.3M.

• Financing activities in H1 2025 raised $3.71M, with an additional $15.4M raised post-Q2 through a fully oversubscribed financing.

Outlook and guidance

• Management anticipates sufficient capital to meet obligations for the next twelve months, with ongoing efforts to secure additional equity financing as needed.

• Focus remains on advancing exploration in Sweden and Finland, leveraging the expanded land package and technical team, with Harpsund target prepared for Phase 1 diamond drilling in H2 2025.

• Expanded Aida drill program and new gold zones identified, indicating a larger mineralized footprint.