# First Mining Gold Narrows Q3 Net Loss to C$14.3 Million

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/56254
Published: 2026-11-13T03:42:12.000Z
Updated: 2026-11-13T03:42:12.000Z
Section: Business

> Basic and diluted loss per share was C$0.01, compared with C$0.02 a year earlier. Cash and cash equivalents rose to C$78.089 million at Sept. 30.

First Mining Gold Corp. narrowed its third-quarter net loss to C$14.326 million as a smaller Silver Stream liability fair-value loss helped offset a charge tied to its Seva Mining investment.

The unaudited loss for the three months ended Sept. 30, 2026, compared with C$21.974 million in the same quarter of 2025. Basic and diluted loss per share was C$0.01, down from C$0.02 a year earlier. First Mining reported under IFRS Accounting Standards.

The fair-value loss on the Silver Stream liability was C$10.242 million, compared with C$22.224 million in the year-earlier quarter. The decrease was the main reason the company’s overall loss narrowed. Equity-accounted investments, meanwhile, recorded a C$2.232 million loss, versus a C$1.019 million gain in Q3 2025. The loss was tied to the Seva Mining investment.

Cash and cash equivalents totaled C$78.089 million at Sept. 30, up from C$37.296 million at June 30. A bought-deal share offering in September generated C$57.506 million in gross proceeds. The cash figures compare balances at the ends of two consecutive quarters, while the offering proceeds reflect funds raised during September.

The company’s projects include Springpole in northwestern Ontario and Duparquet in Quebec. The company expects a provincial environmental assessment decision for Springpole in the fourth quarter of 2026. First Mining CEO Dan Wilton said, “We look forward to a provincial EA decision in the near-term which will lead the way for a construction decision.”