Mayfair Gold Corp. reported Q1 2026 net loss of $7.3 million driven by elevated exploration expenses, with cash position at $32.3 million after $5.9 million burn.
Key takeaways
Net loss $7,321,839 or $(0.11) per share vs $1,815,633 or $(0.04) in Q1 2025
Exploration and evaluation expenses rose to $5,264,894 from $1,200,222 year-over-year
Cash and equivalents decreased to $32,306,392 from $38,193,983 at year-end
Operating cash burn $6,807,219; financing inflow $933,530 from warrant exercises
Shareholders' equity $46,280,497; deficit increased to $77,807,584
NYSE American listing commenced January 27, 2026 under ticker MINE