Greenland Mines net loss widens to $14.08 million in Q1 FY26; no revenue

Greenland Mines

Greenland Mines

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  • Greenland Mines posted a net loss of USD 14.08 million for the quarter ended March 31, 2026, widening from a loss of USD 2.12 million a year earlier.
  • Operating expenses climbed to USD 9.51 million from USD 1.59 million, while the company reported no revenue.
  • Net cash used in operating activities rose to USD 4.97 million from USD 1.55 million; cash and cash equivalents ended the quarter at USD 10 million.
  • Completed the acquisition of Greenland Mines Corp. on March 4, 2026, gaining an interest in the Skaergaard Project in eastern Greenland and adding a mining segment alongside biotech.


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