Liberty Gold (LGD) Q3 2026 earnings summary

Executive summary

• Black Pine advanced through feasibility, resource growth, permitting milestones and construction-readiness activities.

• The feasibility study outlines an open-pit, run-of-mine heap-leach operation, with detailed engineering underway and long-lead equipment capacity secured.

Financial highlights

• Continuing operations recorded a Q3 2026 loss versus a loss in Q3 2025; nine-month results were income in 2026 versus a loss in 2025.

• Basic and diluted EPS from continuing operations were $(0.02) in Q3 2026 vs $(0.01) in Q3 2025, and $0.05 for 9M 2026 vs $(0.03) for 9M 2025.

• Cash and cash equivalents were $28.575M at Sept. 30, 2026 vs $28.077M at Dec. 31, 2025; working capital was $35.261M vs $26.013M.

• Total assets were $87.851M vs $44.091M; current liabilities were $6.269M vs $5.406M, and shareholders’ equity was $80.376M vs $37.534M.

Outlook and guidance

• Feasibility study projects average annual payable gold production of 202,000 oz in Years 1–5 from 4.04M oz of probable reserves; initial capital is $411.4M.

• At $3,250/oz gold, the study estimates after-tax NPV (5%) of $2.4B and IRR of 60%; returns are described as strong across a broad range of gold prices.

• Construction readiness work includes detailed engineering and securing fabrication capacity for key long-lead electrical infrastructure and gold recovery equipment.