Paramount Gold Nevada (PZG) Q4 2025 earnings summary

Executive summary

• Continued focus on permitting and advancing the Grassy Mountain Project, with key state and federal milestones achieved, including Environmental Evaluation approval and entry into the FAST-41 federal permitting program.

• No revenue generated from mining operations; net loss increased to $9.05 million for the year ended June 30, 2025, up 12% year-over-year.

• Ongoing exploration and maintenance at the Sleeper Gold Project, with reclamation activities and site upkeep.

Financial highlights

• Net loss for FY2025 was $9.05 million, compared to $8.06 million in FY2024.

• Cash and cash equivalents at June 30, 2025, were $1.35 million, down from $5.42 million a year earlier.

• Working capital at year-end was approximately $2.05 million.

• Exploration and development expenses rose 26% to $2.60 million, mainly due to permitting at Grassy Mountain.

• Reclamation expenses at Sleeper dropped 92% to $0.2 million.

Outlook and guidance

• Expectation of continued losses as exploration and permitting activities proceed.

• Planned cash expenditures for FY2026 include $2.7 million for corporate and land claim maintenance, and $2.0 million for Grassy Mountain permitting.

• Funding strategy includes use of existing cash, equity offerings, insurance proceeds for reclamation, and potential royalty sales.