Liberty Gold Reports Q2 2026 Financial and Operating Results

Liberty Gold Corp. (LGD) reported financial and operating results for the three and six months ended June 30, 2026. The company recorded income from continuing operations of $43.0 million for the second quarter of 2026, a reversal from the $4.3 million loss reported in the same period of 2025. For the first half of 2026, income from continuing operations totaled $37.0 million, compared to a $7.0 million loss in the prior-year period. Basic earnings per share for the second quarter were $0.08, with diluted earnings per share at $0.07, compared to a loss of $0.01 in the previous year’s quarter.

As of June 30, 2026, the company’s balance sheet showed cash and cash equivalents of $36.5 million and working capital of $43.5 million. Total assets stood at $94.6 million, with shareholders’ equity at $87.6 million. Current liabilities were reported at $5.7 million, while non-current liabilities amounted to $1.3 million.

At the Black Pine project, the U.S. Forest Service published the Environmental Impact Statement Notice of Intent on April 3, 2026. The company reported final 2025 drill results on April 8, 2026, and expanded its 2026 drill program from 40,000 meters to 50,000 meters. Additionally, a preliminary cyanidation design report was submitted to the Idaho Department of Environmental Quality on August 5, 2026.

In corporate developments, Centerra Gold exercised its top-up rights twice during the period. On April 27, 2026, it purchased 2,033,992 shares at C$1.17 for a total of C$2.4 million. On June 17, 2026, it acquired 2,050,287 shares at C$1.70 for C$3.5 million. The company also received C$8.0 million from warrant exercises that occurred in May 2024.

Liberty Gold closed the sale of the Goldstrike property to Heliostar Metals on April 27, 2026, with total consideration of up to $72.5 million. The sale of the Gage property to Blue Moon closed on April 2, 2026, involving approximately $2.7 million in shares and a 2.0% net smelter return (NSR). The release contained no commentary from the CEO or management and provided no segment-level detail separating operating losses from disposal gains.

Liberty Gold Corp. (LGD) reported a $43.0 million net income for the second quarter, a figure driven by asset disposals rather than mining operations. As a pre-revenue development-stage gold company, the firm generated no revenue from its projects during the period. This stands in contrast to the first quarter of 2026, which saw an operating loss of $6.03 million and a net loss of $6.03 million. The shift to a Q2 profit is overwhelmingly attributable to previously announced asset sales, confirming a large non-recurring accounting income that increased shareholders’ equity from $37.5 million at December 31, 2025, to $87.6 million at June 30, 2026.

While the Q2 release did not separately disclose the gain on the Goldstrike and Gage disposals, the balance sheet reflects deferred Goldstrike consideration and equity holdings in Heliostar and Blue Moon. Consequently, not all of the $94.6 million in total assets are cash; actual cash holdings stood at $36.5 million. Underlying operations continue to consume cash, with the Q1 2026 Management’s Discussion and Analysis flagging a going concern dependency on future financing. Although the company had no debt, it still required future capital to sustain operations.

All project milestones and corporate transactions detailed in the release had been announced in prior news releases, making the Q2 report a confirmation of existing developments rather than a new catalyst. The stock closed at $1.80 on August 12, 2026, at the high end of its 12-month range, though the release itself did not introduce new market drivers. The quality of earnings remains low as the profit is one-time, partially non-cash, and tied to asset sales rather than project execution. The report provides balance sheet clarity but does not signal a fundamental operating turnaround.

Liberty Gold Corp. (LGD) is a U.S.-focused gold exploration and development company with assets in the Great Basin. Its flagship asset is the 100%-owned Black Pine Oxide Gold Project in southeastern Idaho, a past-producing, run-of-mine heap-leach oxide gold deposit being advanced toward a modern open-pit operation.

The 2026 mineral resource estimate for Black Pine includes indicated resources of 4.88 moz Au and inferred resources of 1.05 moz Au. A high-grade subset comprises 1.91 moz indicated at 0.99 g/t Au.

Permitting milestones include a FAST-41 covered project status and an EIS Notice of Intent filed on April 3, 2026. The company is coordinating a federal-state schedule with a target Record of Decision in January 2028 and a preliminary cyanidation design report due August 5, 2026. A feasibility study is targeted for Q4 2026.

Strategic non-core divestments were completed in 2026, including the sale of Goldstrike to Heliostar and Gage to Blue Moon. An interest in TV Tower was previously sold, with a final payment due in October 2026. The company remains pre-revenue and does not yet have a producing mine.