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Earnings Neutral

Goldsky Resources Releases Q4 2025 Unaudited Financial Results and Corporate Update

By The Northwire Desk — AI Analysis Mar 31, 2026 · 19:00 FNM · 1.96 First Nordic Metals Corp.
FNM · Price

Executive Summary

  • Goldsky Resources released its unaudited Q4 2025 financial statements, showing cash of $84.4 M (up from $9.6 M) after a C$80 M financing tied to the Mawson acquisition.
  • Total assets rose to $178.0 M and exploration/evaluation assets increased to $91.5 M following the Mawson Finland Limited purchase and expansion of Nordic projects.
  • The company reported a net loss of $28.2 M for 2025, driven by higher exploration spend and integration costs from the transformational transaction.

Key Details

  • Financing: Completed C$80 M concurrent financing in connection with acquisition of Mawson Finland Ltd.; proceeds largely reflected in cash balance increase.
  • Acquisition: Closed purchase of Mawson Finland Limited on 16 Dec 2025, adding the Rajapalot gold‑cobalt project and expanding Swedish/Finland asset base.
  • Balance Sheet: Cash $84.4 M (2024: $9.6 M); Total assets $178.0 M (2024: $26.5 M).
  • Exploration Assets: Up to $91.5 M (2024: $15.4 M) – includes Rajapalot project and continued investment in Nordic portfolio.
  • Losses: Net loss for 2025 = $28.2 M (2024: $10.9 M); increase attributed to higher exploration expenditures and corporate integration costs.
  • Exploration Highlights:
  • Aida target (Paubäcken project, Sweden) – strong gold mineralization with multiple high‑grade intercepts; system remains open in several directions.
  • Rajapalot project (Finland) – ongoing drilling at Palokas and Raja zones to upgrade resources; rigs active on site for 2025–2026 programs.
  • Subsequent Events: Agreement signed to acquire remaining 55 % of Barsele Gold Project, moving toward 100 % ownership and a 2026 Preliminary Economic Assessment.
  • Upcoming Milestones: AGM scheduled for 30 Jun 2026; audited FY‑2025 financial statements to be filed on SEDAR+ by 30 Apr 2026.

Notable Quotes

  • “The completion of the Mawson acquisition and associated financing has dramatically strengthened our balance sheet, providing a solid platform to advance our high‑potential Nordic assets.” – Russell Bradford, CEO & Director

All forward‑looking statements are subject to risks and uncertainties; actual results may differ materially.

Read the original news release →

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