Liberty Gold reported income from continuing operations of $43.032 million, or $0.08 per basic share, for the three months ended June 30, 2026, marking an improvement over the net loss of $4.284 million, or $0.01 per basic share, reported for the same period in 2025. For the six months ended June 30, 2026, income from continuing operations reached $37.005 million, or $0.07 per basic share, compared to a net loss of $6.963 million, or $0.02 per basic share, for the first half of 2025.

Working capital stood at $43.471 million as of June 30, 2026, representing an increase from $26.013 million as of December 31, 2025. Total assets rose to $94.565 million at the end of the second quarter, up from $44.091 million at the end of 2025, while shareholders’ equity increased to $87.553 million from $37.534 million over the same period.

The financial results reflected the closure of the sale of the Goldstrike Project in Utah to Heliostar Metals for up to $72.5 million in total consideration. The transaction closed on April 27, 2026, with Liberty Gold receiving $10 million in cash plus approximately 1.6 million Heliostar common shares valued at approximately $2.5 million upon closing. Further consideration includes $10 million in cash payable on April 24, 2027, $10 million in cash payable on October 24, 2027, $15 million in cash payable on the earlier of certain infrastructure-related milestones or April 24, 2031, and $25 million in cash payable on the earlier of a feasibility study release, a construction decision, or April 24, 2031.

Corporate treasury was further bolstered during the period as Centerra Gold exercised its top-up rights twice under an investor rights agreement to maintain its 9.9% equity interest in Liberty Gold. Centerra subscribed for a total of 4,084,279 common shares across two transactions for aggregate proceeds of approximately C$5.9 million. Additionally, the company received a total of C$8.0 million from the exercise of common share purchase warrants issued in connection with a May 2024 private placement.

Operational focus during the period remained on Liberty Gold's flagship Black Pine oxide gold project in southern Idaho, a past-producing run-of-mine heap leach system. The company expanded its planned 2026 drill program at the asset from 40,000 metres to 50,000 metres, subject to drill rig availability. The expanded campaign targets pre-production de-risking through infill drilling to upgrade resources from indicated to measured classification within the initial two to three years of the mine plan, alongside resource growth drilling and engineering support for phase sequencing and geotechnical testing.

Permitting and engineering milestones at Black Pine advanced alongside exploration. The United States Forest Service published a Notice of Intent in the Federal Register to prepare an Environmental Impact Statement, initiating the formal National Environmental Policy Act review process and a public scoping period. On August 5, 2026, Liberty Gold submitted a Preliminary Design Report to the Idaho Department of Environmental Quality to initiate the state cyanidation permitting process, noting its status as a signatory to the International Cyanide Management Code. These activities run concurrently with an ongoing feasibility study for the project.

Read the full announcement: Liberty Gold Reports Q2 2026 Financial and Operating Results