# NexGold Posts C$17.36 Million Q3 Loss; IFRS Loss Per Share Narrows

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/56886
Published: 2026-11-13T16:44:28.000Z
Updated: 2026-11-13T16:44:28.000Z
Section: Business

> Exploration and evaluation expenses rose to C$16.71 million from C$4.62 million a year earlier. Early works construction has begun at Goldboro.

NexGold Mining Corp. posted a C$17.36 million net loss for the three months ended Sept. 30, 2026; exploration and evaluation expenses rose year over year, while cash and short-term investments declined from June.

The net loss compared with C$13.14 million for the same period in 2025. Basic and diluted IFRS loss per share narrowed to C$0.07 from C$0.08, while the weighted-average share count rose to 256.4 million from 161 million.

Exploration and evaluation expenses totaled C$16.71 million, up from C$4.62 million in the prior-year quarter. NexGold attributed the quarter-over-quarter increase in net loss primarily to exploration expenditures and project development activities.

Cash and short-term investments totaled C$85.4 million at Sept. 30, compared with C$101.1 million at June 30. At quarter-end, NexGold held C$85,433,675 in cash and cash equivalents and no short-term cash investments. All amounts are in Canadian dollars. The unaudited interim statements were prepared under IFRS Accounting Standards.

NexGold had not generated revenue from operations as of Sept. 30, and its mineral properties were classified as being in the exploration stage. Its projects include the Goldboro Gold Project in Nova Scotia and the Goliath Gold Complex in Ontario.

Early-works construction activities had begun at Goldboro. NexGold President, CEO and Director Kevin Bullock called the start “an important milestone.”

An updated Goldboro feasibility study was expected in the fourth quarter of 2026, with a potential final investment decision by the board later in the year.