Keweenaw Land Association (KEWL) H1 2026 earnings summary

Executive summary

• Revenue for the six months ended June 30, 2026, totaled $268,870, primarily from mineral leases, new option agreements, and a recycling partner.

• Net loss after tax was $88,195 for the period, reflecting higher costs and lower interest income.

• The company executed a new exploration option agreement and a mineral management alliance, expanding its managed acreage and customer base.

• Staff remains at two employees, with a focus on minimizing overhead and maintaining operational efficiency.

Financial highlights

• Lease income was $262,007, with additional royalty, option, and easement revenues contributing to total revenue.

• Cost of sales increased slightly to $63,284, in line with increased mineral activity.

• Interest income from treasury investments was $104,638, down from $125,377 year-over-year.

• Cash and cash equivalents at period end were $4,112,660, with $3,968,212 in short-term treasury bills.

• No mineral rights were acquired in the period; capitalized exploration costs remained at $306,420.

Outlook and guidance

• Management expects recurring lease and royalty income to continue, supported by new agreements and expanded mineral alliances.

• The company anticipates further income diversification and growth in managed acreage.