Patriot Gold Corp. Reports $1.78 Million Revenue and $1.28 Million Net Income in Latest Quarter

Patriot Gold Corp. reported significant financial improvements in its latest quarterly filing, with revenues reaching $1.78 million for the three months ended June 30, 2026, compared to no revenue in the same period last year. This increase is attributed to the resumption of royalty payments from the Moss Mine, where the company holds a 3% net smelter return royalty. The net income for the quarter was $1.28 million, a notable turnaround from a net loss of $574,930 in the prior year. For the six months ending June 30, 2026, the company also reported a net income of $1.01 million, compared to a loss of $975,036 in the same period of 2025.

The financial performance reflects a strategic shift for Patriot Gold, which has focused on stabilizing its revenue streams after a period of uncertainty regarding royalty payments. The company has successfully resumed collecting royalties, which had been temporarily suspended due to liquidity issues faced by Golden Vertex, the operator of the Moss Mine. The filing indicates that the company has taken legal action to secure its interests, resulting in a favorable court ruling that has allowed for the collection of outstanding royalties.

Operationally, Patriot Gold has maintained its focus on mineral exploration and development, particularly in Nevada. The company reported a decrease in mineral and exploration expenses, which totaled $13,982 for the three months ended June 30, 2026, down from $21,330 in the previous year. This reduction is primarily due to a temporary pause in drilling activities. General and administrative expenses also decreased, reflecting a more streamlined operational approach. The company’s total assets increased significantly to $981,663 as of June 30, 2026, up from $179,103 at the end of the previous fiscal year, largely due to the collection of royalty receivables.

Looking ahead, Patriot Gold anticipates needing approximately $1 million to fund its operations over the next twelve months, which includes working capital and administrative expenses. The company has indicated that it may require additional funding to support its ongoing projects and operational needs. Despite the recent positive financial results, management has acknowledged that uncertainties remain regarding future revenue generation and the overall market conditions for natural resources. The company continues to explore new projects while managing its existing properties to enhance shareholder value.