Paramount Gold Nevada(PZG) - 2026 Q1 - Quarterly Report

Financial Performance - For the three months ended September 30, 2025, the net loss was $4,324,338, an increase of 175% compared to a net loss of $1,572,138 for the same period in 2024[86]. - Exploration expenses increased by 43% to $566,096 for the three months ended September 30, 2025, compared to $395,298 in the prior year[87]. - Reclamation expenses decreased by 30% to $37,880 for the three months ended September 30, 2025, down from $53,937 in 2024[88]. - Land holding costs rose to $188,608 for the three months ended September 30, 2025, an increase of $22,043 from $166,565 in the previous year[89]. - Professional fees increased by $73,051 to $245,048 for the three months ended September 30, 2025, compared to $171,997 in the prior year[92]. Cash Position - Cash and cash equivalents increased to $4,165,894 as of September 30, 2025, compared to $1,351,001 as of June 30, 2025[94]. - The company had working capital of approximately $1,256,051 as of September 30, 2025[94]. Future Expenditures - The company expects to incur $2.6 million in cash expenditures for corporate, land claim maintenance, and general expenses over the next twelve months[99]. - The company anticipates $2 million in cash expenditures for discretionary exploration and development activities on the Grassy Mountain Project[99]. Financial Instruments - For warrants that do not meet equity classification criteria, they are recorded as liabilities at their initial fair value and remeasured at each balance sheet date[108]. - Changes in the fair value of warrants are recognized as unrealized gains or losses in Other Expense on the condensed consolidated interim statement of operations[108]. Company Classification and Disclosures - The company is classified as a smaller reporting company, thus certain market risk disclosures are not applicable[110]. - The company does not currently have any off-balance sheet arrangements that could materially affect its financial condition or results of operations[109]. - The company issued 2,146,561 shares under its equity offering program for net proceeds of $1,895,932 during the three months ended September 30, 2025[95].