Liberty Gold reports Q2 loss of C$1.9M as it advances Black Pine feasibility study and BLM permitting. Resource now 2.1M oz M&I. Stock trades near 52-week low.
Liberty Gold spent the second quarter of 2026 pushing its Black Pine project through the feasibility study and federal permitting process, the company said in its quarterly report Wednesday.
The Vancouver-based developer reported a net loss of C$1.9 million for the three months through June, compared with a C$2.1 million loss a year earlier. Cash and equivalents stood at C$6.8 million at quarter-end, down from C$10.1 million at Dec. 31.
The company's main workstream was the Black Pine oxide gold project in southern Idaho, a past-producing heap leach operation Liberty Gold is advancing toward a modern open-pit mine. During the quarter, the company continued the feasibility study and took steps through the federal permitting process under the National Environmental Policy Act, it said.
Black Pine sits on BLM-administered land, which means the permitting timeline depends on the Bureau of Land Management's review. Liberty Gold has not said when it expects to file the feasibility study or receive a record of decision.
The company also completed a resource update in March that raised measured and indicated ounces at Black Pine to 2.1 million, up from 1.6 million in the prior estimate. Inferred resources added 500,000 ounces. The deposit remains open along strike and at depth, the company said.
Liberty Gold raised C$4.5 million in a private placement during the quarter, priced at C$0.45 per unit. Each unit consisted of one share and one-half warrant. The proceeds are earmarked for the feasibility study and permitting work, the company said.
On the corporate side, Liberty Gold appointed a new CFO in May and added two independent directors with mining operations experience. The company said the board changes were part of a broader governance refresh ahead of the transition from explorer to developer.
Liberty Gold trades on the TSX under LGD and on the OTCQX under LGDTF. The stock has traded between C$0.35 and C$0.78 over the past 52 weeks.
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