Euro Manganese Inc. (ASX:EMN) has released unaudited condensed interim consolidated financial statements for the three and nine months ended June 30, 2026, disclosing a net loss of C$12.592 million for the nine-month period and total assets of C$29.011 million as at June 30, 2026.
Key Points
- Net loss of C$12.592 million for the nine months ended June 30, 2026, compared to C$12.827 million for the same period in 2025
- Total assets of C$29.011 million as at June 30, 2026, down from C$36.778 million as at September 30, 2025
- Cash and cash equivalents of C$4.084 million at June 30, 2026, compared to C$9.491 million at September 30, 2025
- Convertible loan balance of C$34.850 million as at June 30, 2026, compared to C$30.577 million at September 30, 2025
- Total shareholders’ equity was negative C$9.427 million at June 30, 2026, compared to positive C$2.848 million at September 30, 2025
Nine-Month Financial Results to June 2026
According to the filing, revenues for the nine months ended June 30, 2026, were C$3.450 million, compared to C$3.444 million for the nine months ended June 30, 2025. Cost of goods sold for the nine-month period was C$3.950 million, resulting in a gross loss of C$500,000. Chvaletice Project evaluation expenses were C$5.054 million, and corporate and administrative expenses were C$2.788 million. Finance expense for the nine-month period totalled C$3.582 million. The basic and diluted loss per share for the nine months ended June 30, 2026, was C$0.09, based on a weighted average of 142,883,625 shares.
Three-Month Results and Statement of Financial Position
For the three months ended June 30, 2026, the company recorded revenues of C$1.050 million and a net loss of C$4.533 million. Operating loss for the quarter was C$3.322 million. As at June 30, 2026, total liabilities were C$38.438 million, with accounts payable and accrued liabilities of C$3.483 million. Exploration and evaluation assets were recorded at C$6.787 million, and property, plant and equipment stood at C$13.133 million. Inventory was C$381,000 and accounts and other receivables were C$867,000 at the reporting date.
Going Concern and Audit Status Disclosure
The financial statements were prepared in accordance with International Accounting Standard 34 Interim Financial Reporting and are the responsibility of management, according to the filing. The company disclosed that independent auditors PricewaterhouseCoopers LLP have not performed a review of the unaudited condensed interim financial statements. The filing notes the existence of going concern considerations, with a subsequent event referenced in Note 18. The statements were approved and authorised for issue on behalf of the Board of Directors on August 14, 2026, by President and CEO Martina Blahova and Director James Connolly.
