Nevada Canyon Gold Corp. reported its financial results for the second quarter of 2025, revealing a net loss of $365,117 for the three months ended June 30, 2025, a significant decrease from the $865,329 loss recorded in the same period of 2024. For the six months ending June 30, 2025, the company reported a net loss of $1,247,387, down from $1,704,774 in the prior year. The reduction in losses is attributed to decreased operating expenses, particularly in investor awareness and marketing, which fell by 57% to $154,776 in the second quarter, and the absence of director and officer compensation costs that totaled $420,768 in the previous year.
Total operating expenses for the second quarter decreased by 54% to $428,665 compared to $938,382 in the same quarter of 2024. The company’s exploration expenses increased to $103,956, reflecting ongoing activities under the Earn-in Agreement with Walker River Resources for the Lapon Canyon Project. The company also recognized a $20,000 gain from the sale of its interest in the Swales Property, which was completed in June 2025.
As of June 30, 2025, Nevada Canyon Gold Corp. reported total assets of $9,901,733, a decline from $10,424,775 at the end of 2024. Current assets decreased to $7,062,571, primarily due to a reduction in cash, which stood at $6,740,706, down from $7,036,161 at the end of the previous fiscal year. The company’s liabilities increased slightly to $1,364,764 from $1,314,447, with related party payables rising to $500,000 from $460,000.
Strategically, the company has focused on expanding its mineral property interests, which include the Agai-Pah and Belshazzar properties in Nevada and Idaho, respectively. The company has also entered into an Exploration Stream Earn-in Agreement with Walker River Resources, allowing it to earn up to a 50% interest in the Lapon Canyon Project by funding $5 million in exploration expenses over three years. Looking ahead, Nevada Canyon Gold Corp. aims to leverage its current cash position and explore additional financing options to support its operations and exploration initiatives for the next 12 months.
About Nevada Canyon Gold Corp.
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