Galway Metals posts Q2 2026 loss as company cites higher exploration spending, FX swings driving results
Reuters2026/08/21 15:41- Galway Metals posted a comprehensive loss of CAD 6.34 million for the six months ended June 30, 2026, versus CAD 4.25 million.
- Higher exploration spending drove the wider loss, led by CAD 5.03 million of exploration expense versus CAD 2.65 million.
- Clarence Stream spending increased across drilling, geology, and assays, reflecting an expanded 2026 program using four drill rigs.
- Administrative expense rose to CAD 1.19 million from CAD 879,336, mainly due to higher office costs and travel.
- Cash totaled CAD 13.48 million at June 30, 2026, little changed from year-end, while current liabilities rose to CAD 1.53 million.
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