None
SEDAR Interim Financial Statements
AZM · Price
[
{
"companyName": "Azimut Exploration Inc.",
"reportingPeriodEnd": "2026-02-28",
"reportStatus": "Unaudited",
"auditorName": null,
"auditorKeyMatters": [],
"balanceSheet": {
"cashAndCashEquivalents": 4100809,
"amountsReceivable": 1835961,
"prepaidExpenses": 97633,
"taxCreditsAndMiningRightsReceivableCurrent": 3699596,
"assetAvailableForSale": null,
"totalCurrentAssets": 9733999,
"taxCreditsAndMiningRightsReceivableNonCurrent": 2356400,
"investments": 15562022,
"propertyAndEquipment": 1123371,
"intangibleAssets": 49662,
"rightOfUseAssets": 879112,
"explorationAndEvaluationAssets": 45358283,
"totalNonCurrentAssets": 65328850,
"totalAssets": 75062849,
"accountsPayableAndAccruedLiabilities": 2550492,
"advancesReceivedForExplorationWork": 784191,
"leaseLiabilitiesCurrent": 238099,
"totalCurrentLiabilities": 3572782,
"leaseLiabilitiesNonCurrent": 226046,
"assetRetirementObligations": 2082410,
"deferredIncomeTaxLiabilities": 860249,
"totalNonCurrentLiabilities": 3168705,
"totalLiabilities": 6741487,
"shareCapital": 74162181,
"stockOptions": 5403190,
"contributedSurplus": 5391837,
"deficit": -16635846,
"totalEquity": 68321362,
"totalLiabilitiesAndEquity": 75062849,
"cashPerShare": 0.0408,
"workingCapitalPerShare": 0.0612,
"weightedAverageSharesOutstanding": 100627238
},
"incomeStatement": {
"revenue": 79951,
"operatorIncome": 79951,
"generalAndAdministrative": 1427231,
"generalExploration": 20975,
"impairmentOfExplorationAndEvaluationAssets": null,
"operatingExpenses": 1448206,
"financingCostIncome": {
"interestIncome": -104354,
"interestBankChargesAndOther": 82165,
"unwindingOfDiscount": 26087,
"total": 3898
},
"otherLossesGains": {
"changeInFairValueInvestments": -1674097,
"gainOnOptionPayments": -93540,
"gainOnSaleOfAssets": -10512025,
"total": -12279662
},
"profitBeforeIncomeTaxes": 10907509,
"deferredIncomeTaxRecovery": null,
"netEarningsAndComprehensiveIncome": 10907509,
"basicEarningsPerShare": 0.108,
"dilutedEarningsPerShare": 0.108,
"weightedAverageSharesBasic": 100627238,
"weightedAverageSharesDiluted": 101319172
},
"cashFlowStatement": {
"netEarnings": 10907509,
"depreciationOfPropertyAndEquipment": 18526,
"amortizationOfIntangibleAssets": null,
"depreciationOfRightOfUseAssets": 26061,
"changeInFairValueInvestments": -1674097,
"gainOnOptionPayments": -93540,
"lossGainOnSaleOfExplorationProperty": -10512025,
"stockBasedCompensation": 683022,
"unwindingOfDiscount": 26087,
"recoveryOfDeferredIncomeTaxes": null,
"totalAdjustments": -618457,
"amountsReceivable": -1928527,
"prepaidExpenses": 40294,
"accountsPayableAndAccruedLiabilities": 29418,
"advancesReceivedForExplorationWork": -2260738,
"totalChangesInWorkingCapital": -4119553,
"netCashFromOperations": -4738010,
"stockOptionsExercised": 124000,
"repaymentOfLeaseLiabilities": -558813,
"netCashFromFinancing": -434813,
"additionsToPropertyAndEquipment": -57217,
"additionsToIntangibleAssets": -18889,
"proceedsFromSalesOfInvestments": 312230,
"additionsToExplorationAndEvaluationAssets": -4702242,
"optionPaymentsOnEEAssets": 100000,
"netCashFromInvesting": -4366118,
"netChangeInCash": -9538941,
"cashBeginning": 13639750,
"cashEnd": 4100809,
"interestReceived": 104354,
"interestPaid": -39804
},
"investmentsAndOtherAssets": [
{
"type": "Investments in publicly traded companies",
"description": "Common shares of Canadian publicly traded companies, fair value through profit or loss",
"ownershipPercentage": null,
"value": 15562022,
"notes": "Includes shares received from disposal of assets (Pikwa and Galinée)"
},
{
"type": "Joint Venture",
"description": "SOQUEM – JB Alliance (50% interest)",
"ownershipPercentage": 50,
"value": 338181,
"notes": "Gold properties in James Bay region, operated by Azimut or SOQUEM"
},
{
"type": "Joint Venture",
"description": "Opinaca A and B (25-50% interests)",
"ownershipPercentage": 37.5,
"value": 5508,
"notes": "Joint ventures with Everton Resources and Hecla Quebec"
},
{
"type": "Joint Venture",
"description": "SOQUEM CSM (50% interest)",
"ownershipPercentage": 50,
"value": 475082,
"notes": "Critical and strategic minerals properties"
},
{
"type": "Joint Venture",
"description": "Kaanaayaa Lithium Property (50% interest - Rio Tinto option terminated Dec 31, 2025)",
"ownershipPercentage": 50,
"value": 785,
"notes": "Option agreement terminated; property now 100% owned by Azimut"
},
{
"type": "Joint Venture",
"description": "Pilipas Property (50% interest with Ophir Metals Corp.)",
"ownershipPercentage": 50,
"value": 0,
"notes": "Ophir decided not to exercise second option on March 16, 2026"
}
],
"shareStructure": {
"authorizedShares": "Unlimited",
"issuedShares": 100779310,
"classesOfShares": ["Common Shares"],
"warrants": [],
"options": [
{
"number": 7290000,
"exercisePrice": 0.86,
"expiryDate": null
}
],
"rightsConvertibleInstruments": null
},
"managementCompensation": {
"currency": "CAD",
"periods": {
"2026-02-28": {
"salaries": 630108,
"directorFees": 85000,
"stockBasedCompensation": 690018,
"total": 1405125
},
"2025-02-28": {
"salaries": 588667,
"directorFees": 74917,
"stockBasedCompensation": 429091,
"total": 1092675
}
},
"namedIndividuals": [],
"otherRelatedPartyTransactions": [
{
"counterparty": "Key management personnel",
"description": "Amounts included in accounts payable and accrued liabilities",
"amount": 164290,
"period": "2026-02-28"
}
]
},
"subsequentEvents": [
{
"eventDate": "2026-03-16",
"description": "Ophir Gold Corp. (now Ophir Metals Corp.) decided not to exercise the second option to earn an additional 20% interest in the Pilipas Property. Azimut will be the operator of the joint venture.",
"impactValue": null
}
]
}
]
More from Azimut Exploration Inc.
Jun 30, 2026 · 06:30