Belo Sun Mining management commentary cites higher costs as Q3 2026 net loss widens to CAD 3.28 million
Bitget2026/11/05 23:26- Belo Sun's management commentary reported a third-quarter 2026 net loss of CAD 3.28 million, versus CAD 1.3 million a year earlier.
- Management attributed higher costs to increased Brazilian legal fees, shareholder communications, travel and general expenses associated with advancing the project.
- Exploration and evaluation expenses rose to CAD 1.09 million from CAD 357,794, reflecting technical gap analysis costs and increased site activity.
- Higher cash balances lifted interest income by CAD 289,119; forfeited options drove a CAD 205,536 share-based payment recovery.
- Cash totaled CAD 37.78 million at September 30, 2026, supported by February's private placement; quarterly operating cash outflow reached CAD 3.41 million.
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