Star Gold Corp. Posts $181,000 Net Loss in Q3 FY2026 as Operating Costs Quadruple
Star Gold Corp., a Nevada-based mining exploration company, reported a net loss of $180,986 for the three months ending January 31, 2026, nearly tripling from the $54,724 loss in the same quarter a year earlier. Operating expenses surged to $161,370 from $40,654.
Star Gold Corp., a Nevada-based mining exploration company, reported a net loss of $180,986 for the three months ending January 31, 2026, nearly tripling from the $54,724 loss posted in the same quarter a year earlier. The company reported no revenue for the period. Read more earnings reports.
Operating expenses jumped to $161,370 in the third quarter of fiscal 2026, up from $40,654 in the prior-year quarter, a 297% increase. For the nine months ending January 31, 2026, operating expenses climbed to $337,125 from $163,511 the year before.
The company's nine-month net loss widened to $389,770 from $203,622 in the comparable period of fiscal 2025. Star Gold reported an operating loss of $337,125 for the nine-month period, more than doubling from the $163,510 loss a year earlier.
Cash Position Strengthens Despite Losses
Cash and cash equivalents stood at $266,144 as of January 31, 2026, up sharply from $11,374 at the fiscal year-end on April 30, 2025. The increase came despite cash used in operations of $271,230 for the nine months, compared to $117,237 in the prior-year period.
Cash from financing activities totaled $538,000 for the nine-month period, compared to $133,000 a year earlier. The company issued 11.25 million common shares during the nine months, bringing total shares outstanding to 108.5 million from 97.3 million at the start of the fiscal year.
Balance Sheet Shows Growing Liabilities
Total assets increased to $1,055,788 as of January 31, 2026, from $707,358 at the fiscal year-end. Property, plant and equipment rose to $614,167 from $602,167, while current assets climbed to $352,221 from $15,791.
Total liabilities grew to $1,360,313 from $1,022,113 at fiscal year-end. Current liabilities increased to $1,031,813 from $686,613, with accounts payable rising to $237,594 from $88,606. The company carried long-term debt of $704,919 as of January 31, 2026, up from $673,180 nine months earlier.
Stockholders' deficit narrowed to $304,525 as of January 31, 2026, from $314,755 at the fiscal year-end on April 30, 2025. The accumulated deficit stood at $13,504,695, expanding from $13,114,925 nine months prior.
Financial Summary
| Item | Q3 FY2026 | Q3 FY2025 | 9M FY2026 | 9M FY2025 |
|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 |
| Operating Expenses | $161,370 | $40,654 | $337,125 | $163,511 |
| Operating Loss | ($161,370) | ($40,654) | ($337,125) | ($163,510) |
| Net Loss | ($180,986) | ($54,724) | ($389,770) | ($203,622) |
| Cash Used in Operations | — | — | ($271,230) | ($117,237) |
| Cash from Financing | — | — | $538,000 | $133,000 |
The company invested $12,000 in the nine-month period, unchanged from the prior year. Star Gold reported no income tax expense for any of the periods.