Goldsky Resources Corp. completed its acquisition of the remaining 55% interest in Gunnarn Mining AB from Agnico Eagle Sweden AB on June 25, 2026, securing 100% ownership of the Barsele gold project in Sweden.

The transaction involved a cash payment of US$20 million (C$28,465,700) and the issuance of 75,509,577 common shares, alongside a perpetual 2% net smelter return royalty retained by Agnico. Following shareholder approval on April 9, 2026, making Agnico a control person, the acquisition expanded Goldsky's total assets to approximately C$430.4 million as of June 30, 2026, up from C$180.0 million on March 31, 2026. Exploration and evaluation assets reached C$371.6 million, incorporating Barsele and Finnish assets acquired through the Mawson transaction.

The cash payment reduced the company’s treasury to approximately C$56.4 million as of June 30, 2026, compared with C$84.4 million at December 31, 2025. During the quarter, Goldsky generated approximately C$4.1 million from the exercise of stock options, compensatory options, and warrants, while incurring roughly C$2.3 million in exploration expenditures across its Nordic portfolio. The company reported a net loss of C$5.5 million for Q2 2026, primarily driven by exploration outlays and management fees.

Integration activities at Barsele are underway, supporting a 16-week metallurgical testing program that commenced in August 2026 on 345kg composite samples from the Central and Avan zones. Being conducted by Alfred Knight in Truro, United Kingdom, the program evaluates crusher comminution, Bond rod and ball mill indices, gravity gold recovery, gold leach kinetics, and detoxification testing to provide technical data for a resource update and a maiden Preliminary Economic Assessment targeted for 2027.

In northern Finland, Goldsky completed its 10,429-meter winter drilling program at the Rajapalot gold-cobalt project, with core logging fully finalized on schedule and the updated resource model delivered to SLR to support an upcoming resource update and PEA. Additionally, Goldsky entered into a memorandum of understanding with Ocean Partners to examine the technical and economic viability of recovering cobalt from Rajapalot and to evaluate potential commercial arrangements for cobalt concentrate production, marketing, and offtake.

Read the full announcement: Goldsky Resources Releases Q2 2026 Financial Results and Corporate Update