SEDAR Interim Financial Statements

[
  {
    "companyName": "EURO MANGANESE INC.",
    "reportingPeriodEnd": "2025-12-31",
    "reportStatus": "Unaudited",
    "auditorName": "PricewaterhouseCoopers LLP",
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cashAndCashEquivalents": 7000,
      "prepaidExpenses": 322,
      "accountsAndOtherReceivables": 551,
      "taxesReceivable": 144,
      "inventory": 537,
      "totalCurrentAssets": 8554,
      "explorationAndEvaluationAssets": 6774,
      "propertyPlantAndEquipment": 14793,
      "deferredTransactionsCosts": 1880,
      "otherAssets": 1543,
      "totalAssets": 33544,
      "accountsPayableAndAccruedLiabilities": 2770,
      "dueToRelatedParties": 46,
      "leaseLiability": 108,
      "convertibleLoan": 31296,
      "totalCurrentLiabilities": 34220,
      "leaseLiabilityNonCurrent": 0,
      "totalLiabilities": 34220,
      "shareCapital": 88348,
      "reserve": 10746,
      "otherComprehensiveLoss": 433,
      "deficit": -100203,
      "totalShareholdersEquity": -676,
      "totalLiabilitiesAndShareholdersEquity": 33544,
      "cashPerShare": 0.0490,
      "workingCapitalPerShare": -0.1797
    },
    "incomeStatement": {
      "revenues": 1147,
      "costOfGoodsSold": -1510,
      "grossProfit": -363,
      "chvaleticeProjectEvaluation": -1497,
      "otherEvaluation": 0,
      "corporateAndAdministrative": -1100,
      "foreignExchangeGainLoss": 413,
      "operatingLoss": -2547,
      "gainOnDerivativeInstruments": 0,
      "modificationLossOnConvertibleLoanFacility": 0,
      "interestIncome": 44,
      "financeExpense": -1172,
      "lossBeforeIncomeTaxes": -3675,
      "incomeTaxRecoveryExpense": 42,
      "netLoss": -3633,
      "otherComprehensiveIncomeLoss": -15,
      "totalComprehensiveLoss": -3648,
      "lossPerCommonShareBasicAndDiluted": -0.03,
      "weightedAverageNumberOfSharesBasicAndDiluted": 142804504
    },
    "cashFlowStatement": {
      "lossForThePeriod": -3633,
      "shareBasedCompensation": 124,
      "depreciation": 867,
      "financeExpense": 1172,
      "gainOnDerivativeInstruments": 0,
      "unrealizedForeignExchangeLossGain": -432,
      "interestIncome": -161,
      "modificationLossOnConvertibleLoanFacility": 0,
      "changesInPrepaidExpenses": -62,
      "changesInAccountsAndOtherReceivables": 21,
      "changesInTaxesReceivable": -68,
      "changesInInventory": 99,
      "changesInAccountsPayableAndAccruedLiabilities": -391,
      "changesInDueToRelatedParties": -7,
      "cashUsedInOperatingActivities": -2471,
      "purchaseOfPropertyPlantAndEquipment": -35,
      "depositForLandAcquisition": -88,
      "interestReceived": 161,
      "cashProvidedByUsedInInvestingActivities": 38,
      "interestPaidOnConvertibleLoan": 0,
      "leasePayments": -33,
      "cashProvidedByFinancingActivities": -33,
      "effectOfExchangeRateOnChangesInCash": -25,
      "changeInCashAndCashEquivalents": -2491,
      "cashAndCashEquivalentsBeginningOfPeriod": 9491,
      "cashAndCashEquivalentsEndOfPeriod": 7000,
      "supplementalCashInterestReceived": 161,
      "shareIssuanceCostsIncludedInAccountsPayable": 65
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Mineral/Resource Properties",
        "description": "Mining Lease permit for the Chvaletice Manganese Project",
        "ownershipPercentage": 100,
        "value": 6774,
        "notes": "No expiry date, exclusive rights to mineral extraction."
      },
      {
        "type": "Land Deposit",
        "description": "Land deposit for buffer zone and infrastructure corridor (tailings area)",
        "ownershipPercentage": null,
        "value": 65,
        "notes": "Purchase agreement with Municipality of Trnavka. Total price CZK 2,027 ($126). Paid CZK 1,115 ($65). Remaining payable upon permitting milestones."
      },
      {
        "type": "Land Deposit",
        "description": "Additional land deposit and rail spur extension (plant area)",
        "ownershipPercentage": null,
        "value": 515,
        "notes": "Agreement with Správa Nemovitostí Kirchdorfer CZ s.r.o. Total price Euro 726 ($1,168). Paid Euro 326 ($515). Remaining Euro 400 ($655) payable Oct 10, 2026."
      },
      {
        "type": "Land Deposit",
        "description": "Deposit for land parcel within the Port of Bécancour",
        "ownershipPercentage": null,
        "value": 963,
        "notes": "Option agreement with SPIPB for North American facilities. Amended purchase price $6,115. Option period to Sep 30, 2026. Monthly payments of $31 from Jul 1, 2026 to maintain option."
      }
    ],
    "shareStructure": {
      "authorizedShares": "unlimited",
      "issuedShares": 142804504,
      "classesOfShares": ["common shares"],
      "warrants": [
        {
          "number": 84534390,
          "exercisePrice": 0.23,
          "expiryDate": "2026-11-28"
        },
        {
          "number": 4904478,
          "exercisePrice": 0.23,
          "expiryDate": "2027-05-28"
        }
      ],
      "options": [
        {
          "number": 200000,
          "exercisePrice": 0.4,
          "expiryDate": "2026-05-15"
        },
        {
          "number": 125000,
          "exercisePrice": 0.5,
          "expiryDate": "2027-04-06"
        },
        {
          "number": 300000,
          "exercisePrice": 0.55,
          "expiryDate": "2027-09-21"
        },
        {
          "number": 95000,
          "exercisePrice": 0.55,
          "expiryDate": "2027-12-14"
        },
        {
          "number": 330000,
          "exercisePrice": 1.0,
          "expiryDate": "2028-02-21"
        },
        {
          "number": 100000,
          "exercisePrice": 1.0,
          "expiryDate": "2028-03-20"
        },
        {
          "number": 200000,
          "exercisePrice": 1.25,
          "expiryDate": "2028-08-15"
        },
        {
          "number": 338333,
          "exercisePrice": 1.4,
          "expiryDate": "2029-02-14"
        },
        {
          "number": 30000,
          "exercisePrice": 1.25,
          "expiryDate": "2029-05-15"
        },
        {
          "number": 30000,
          "exercisePrice": 1.25,
          "expiryDate": "2029-08-12"
        },
        {
          "number": 30000,
          "exercisePrice": 1.25,
          "expiryDate": "2030-04-06"
        },
        {
          "number": 675400,
          "exercisePrice": 0.55,
          "expiryDate": "2030-09-11"
        },
        {
          "number": 100000,
          "exercisePrice": 0.63,
          "expiryDate": "2030-09-23"
        },
        {
          "number": 195000,
          "exercisePrice": 3.05,
          "expiryDate": "2031-03-30"
        },
        {
          "number": 80000,
          "exercisePrice": 2.95,
          "expiryDate": "2031-06-21"
        },
        {
          "number": 630000,
          "exercisePrice": 2.9,
          "expiryDate": "2031-12-20"
        },
        {
          "number": 50000,
          "exercisePrice": 2.39,
          "expiryDate": "2033-02-20"
        },
        {
          "number": 517749,
          "exercisePrice": 2.39,
          "expiryDate": "2033-05-15"
        },
        {
          "number": 7020000,
          "exercisePrice": 0.19,
          "expiryDate": "2035-05-28"
        }
      ],
      "rightsConvertibleInstruments": "Convertible Loan Facility (Note 8) - Orion may convert outstanding amount and accrued interest into a royalty."
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {
        "threeMonthsEndedDec312025": {
          "salariesAndBenefits": 464,
          "shareBasedCompensation": 78,
          "total": 542
        },
        "threeMonthsEndedDec312024": {
          "salariesAndBenefits": 390,
          "finalPaymentsToFormerCEO": 521,
          "shareBasedCompensation": 12,
          "shareBasedCompensationGainFromForfeiture": -1647,
          "total": -724
        }
      },
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "Related parties",
          "description": "Accounts payable and accrued liabilities due",
          "amount": 46,
          "period": "As at December 31, 2025"
        }
      ]
    },
    "subsequentEvents": [
      {
        "eventDate": "2026-01-27",
        "description": "214,679 stock options with a weighted average exercise price of $0.24 were cancelled.",
        "impactValue": null
      },
      {
        "eventDate": "2026-02-02",
        "description": "150,000 warrants were exercised at a price of $0.225 and the Company issued 150,000 shares for proceeds of $33,750.",
        "impactValue": 33750
      }
    ]
  }
]