Wider Loss, Project Acquisitions
Mammoth Minerals Reports Wider Full-Year Loss Amid Capital Raises and Project Acquisitions
Anonymous
Mammoth Minerals’ filings for the year ended June 30, 2026, describe governance practices and major corporate developments, including a reported net loss of about $6.9 million, up from $4.2 million the prior year. The company said its full Board performs duties typically assigned to separate committees, citing its size and the experience of its directors. It reported partial compliance with governance recommendations on gender diversity and performance reviews: it has a diversity policy but did not set measurable gender targets, and Board and individual-director evaluations were not completed during the period. The annual report also covered share issuances and capital raisings, the acquisition of interests in the Excelsior and Bella U.S. projects, and changes to the Board.
Key Points
1
Mammoth raised $5 million through an issue of 62.5 million shares at $0.08 on August 12, 2025, and a further $180,000 through shares issued to directors. On December 11, it raised another $7.5 million by issuing 62.5 million shares at $0.12.
2
Mammoth issued 32 million shares to Athena Gold Corporation and 17 million shares to Badlands Resources Inc. as consideration for the Excelsior and Bella projects. Excelsior is in Nevada’s Walker Lane Trend, with Mammoth holding an option to earn up to an 80% interest.
3
Kevin Puil became a non-executive director on August 19, 2025, while Robert Jewson moved into the role of executive chairman.
4
The Board said it did not set measurable gender-diversity targets because it believed that requiring specified targets could unduly constrain its ability to appoint the best person for each role; the company nevertheless has a Diversity Policy and publishes workforce gender proportions on its website.
Sentiment
Mostly NegativeNEGATIVENEUTRALPOSITIVE
Publishers
15
Articles
27
Reach
42
Topics
A
AnonymousAuthor
