Anfield Energy Inc. reported Q1 2026 net loss of $7.0 million with cash increasing to $8.1 million, driven by $13.5 million in share issuances amid elevated exploration spending.
Key takeaways
Net loss $7,046,669 for Q1 2026 vs $2,767,838 in Q1 2025, primarily from $3.2 million exploration expenditures.
Cash balance rose to $8,104,405 from $3,349,977, supported by $13.5 million net proceeds from share issuances.
Total assets increased to $94.5 million from $84.1 million, with equity at $54.7 million.
Paid US$1,500,000 deposit for BRS Inc. acquisition from COO, closed post-period on May 8, 2026.
Operating cash use $4.0 million; investing cash use $4.6 million including equipment and acquisition deposits.
Loss per share $0.40 (17.4 million weighted shares) vs $0.18 prior year.