$NFGC

New Found Gold Corp.

CIK:0001840616|SEC Filings

Consolidated Statements of Loss and Comprehensive Loss - CAD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Consolidated Statements of Loss and Comprehensive Loss
Revenue	$ 5,806,973
Cost of Sales
Operating expenses	5,671,431
Selling expenses	17,287
Cost of sales	5,688,718
Income from mine operations	118,255
Expenses
Exploration and evaluation	41,380,407	$ 52,563,340
General and administrative	11,656,734	6,864,539
Share-based compensation	6,284,821	889,045
Transaction costs	4,787,735
Expenses	64,109,697	60,316,924
Loss from operations	(63,991,442)	(60,316,924)
Other income (expenses)
Settlement of flow-through share premium	7,565,501	12,426,322
Gains (losses) on investments	6,347,116	(2,908,253)
Interest, accretion and financing expenses	(112,568)	(25,105)
Interest income	1,418,145	2,869,403
Impairment reversal on equity investment	1,000,237
Other income (expenses)	(194,179)	(2,313,797)
Total other income (expenses)	16,024,252	10,048,570
Loss before income and mining taxes	(47,967,190)	(50,268,354)
Income and mining tax recoveries - deferred	394,570
Net loss and comprehensive loss for the year	$ (47,572,620)	$ (50,268,354)
Loss per share - basic	$ (0.2)	$ (0.26)
Loss per share - diluted	$ (0.2)	$ (0.26)
Weighted average number of common shares outstanding - basic	234,636,355	194,032,544
Weighted average number of common shares outstanding - diluted	234,636,355	194,032,544

Consolidated Statements of Cash Flows - CAD ($)	12 Months Ended
Consolidated Statements of Cash Flows - CAD ($)	Dec. 31, 2025	Dec. 31, 2024
Operating cash flows
Loss for the year	$ (47,572,620)	$ (50,268,354)
Adjustments for:
Depreciation	827,879	813,654
Gains (losses) on investments	(6,347,116)	2,908,253
Impairment reversal on equity investment	(1,000,237)
Income and mining tax recoveries - deferred	(394,570)
Change in estimate of reclamation and closure cost provisions	(266,257)
Accretion on reclamation and closure cost provisions	38,660
Interest income	(1,418,145)	(2,869,403)
Interest expense	22,877	25,105
Gain on secured notes	(55,911)	(140,786)
Settlement of legal claim		1,750,100
Unrealized foreign exchange loss (gain)	116,519	(224,187)
Settlement of flow-through share premium	(7,565,501)	(12,426,322)
Settlement of reclamation obligations	(151,051)
Interest received	1,342,959	2,566,685
Share-based compensation	6,284,821	889,045
Operating cash flow before changes in non-cash working capital	(56,137,693)	(56,976,210)
Change in non-cash working capital (Note 24)	990,426	1,293,150
Net cash and cash equivalents used in operating activities	(55,147,267)	(55,683,060)
Investing cash flows
Cash acquired from Maritime acquisition	9,028,587
Purchases of exploration and evaluation assets	(1,483,911)	(3,858,669)
Proceeds from sale of secured notes	2,778,000
Proceeds on disposal of investments	752,634	1,097,814
Purchases of property, plant and equipment	(1,776,242)	(625,775)
Interest received on secured notes		378,040
Other assets	(37,023)	(179,703)
Net cash and cash equivalents from (used in) investing activities	9,262,045	(3,188,293)
Financing cash flows
Proceeds from issuance of common shares	83,480,001	27,522,494
Share issue costs	(4,004,528)	(924,657)
Stock options exercised	2,547,271	862,500
Warrants exercised	516,666
Repayment of loans	(22,841)
Lease principal payments	(35,719)	(134,001)
Loan and lease interest payments	(52,507)	(25,105)
Net cash and cash equivalents from financing activities	82,428,343	27,301,231
Effect of exchange rate fluctuations on cash and cash equivalents	(21,970)	2,861
Net increase (decrease) in cash and cash equivalents	36,521,151	(31,567,261)
Cash and cash equivalents at beginning of year	22,317,548	53,884,809
Cash and cash equivalents at end of year	$ 58,838,699	$ 22,317,548

Consolidated Statements of Financial Position - CAD ($)	Dec. 31, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 58,838,699	$ 22,317,548
Receivables	4,325,473	2,209,948
Inventories	8,817,268
Investments	8,895,559	926,019
Prepayments and deposits	3,353,473	1,480,341
Secured notes		2,817,554
Total current assets	84,230,472	29,751,410
Non-current assets
Property, plant and equipment	250,544,133	8,056,658
Exploration and evaluation assets	77,664,022	34,505,484
Goodwill	121,074,297
Investment in Kirkland Lake Discoveries Corp.		1,525,756
Other assets	2,616,726	179,703
Total assets	536,129,650	74,019,011
Current liabilities
Accounts payable and accrued liabilities	12,339,524	4,898,826
Flow-through share premium	8,677,099
Other current liabilities	654,832	2,480,160
Total current liabilities	21,671,455	7,378,986
Non-current liabilities
Loans payable	503,417
Lease liabilities	340,155	69,320
Deferred income tax liabilities	83,647,300
Reclamation and closure cost provisions	10,870,068
Total liabilities	117,032,395	7,448,306
Shareholders' equity
Share capital	703,264,118	341,346,716
Reserves	42,820,506	34,988,421
Warrants	30,349,683
Deficit	(357,337,052)	(309,764,432)
Total shareholders' equity	419,097,255	66,570,705
Total liabilities and shareholders' equity	$ 536,129,650	$ 74,019,011