STAR DIAMOND CORPORATION ANNOUNCES SECOND QUARTER 2025 RESULTS
All amounts are in thousands of Canadian dollars, except common share or per share amounts or as otherwise noted.
Overview
The Company also holds a 100% interest in the exploration and evaluation properties and assets of the
Fort à
The Company currently holds a 100% interest in certain Fort à
Recent activities relating to the Star -
The Revised Mineral Resources estimate (see
Buffalo Hills mineral properties
The Company holds a 100% interest in the exploration and evaluation properties and assets of the
Corporate Developments
On
Quarter End Results
For the three months ended
- Exploration and evaluation expenditures decreased to
$463 in 2025 (2024 -$913 ). Exploration and evaluation expenditures incurred during 2025 were primarily due to security and maintenance, continued diamond analyses, and test work for theFALC Project . - Corporate development decreased to
$19 in 2025 (2024 -$136 ) due to reduced marketing and publications issued in 2025. - Change in derivative liability increased to a loss of
$218 in 2025 (2024 - $nil) due to the changes in the fair values of the embedded derivatives of the convertible debentures.
Year to Date Results
For the six months ended
- Exploration and evaluation expenditures decreased to
$930 in 2025 (2024 -$1,202 ). Exploration and evaluation expenditures incurred during 2025 were primarily due to security and maintenance, continued diamond analyses, and test work for theFALC Project . - Corporate development decreased to
$32 in 2025 (2024 -$274 ) due to reduced marketing and publications issued in 2025. - Loss on investment in Wescan Goldfields Inc. decreased to $nil in 2025 (2024 – loss of
$58 ). - Unwinding of discount of environmental rehabilitation provision increased to
$132 in 2025 (2024 -$65 ). - Change in derivative liability increased to a loss of
$218 in 2025 (2024 - $nil) due to the changes in the fair values of the embedded derivatives of the convertible debentures.
On
- We have moved our head office to a smaller area in the same building resulting in a 70% drop in our office lease payments;
- Certain management/employee functions have been reduced or eliminated; and
- Site costs have been significantly reduced as operations moved to a care and maintenance basis.
A budget has been prepared for the completion of the PFS of
However, the ability of the Company to continue as a going concern and fund its expenses in an orderly manner will require additional forms of financing. There can be no assurance that the Company will succeed in obtaining additional financing, now or in the future. Failure to raise additional financing on a timely basis could cause the Company to suspend its operations and planned activities.
Selected financial highlights include:
Selected financial information of the Company for the three and six months ended
|
Three months ended
$ |
Three months ended
$ |
Six months ended
$ |
Six months Ended
$ |
Net loss |
(1,450) |
(1,630) |
(2,416) |
(2,516) |
Net loss per share (1) |
(0.00) |
(0.00) |
(0.00) |
(0.00) |
Current assets |
528 |
1,882 |
528 |
1,882 |
Total assets |
14,115 |
16,326 |
14,115 |
16,326 |
Current liabilities |
2,220 |
912 |
2,220 |
912 |
Total non-current liabilities |
8,473 |
7,704 |
8,473 |
7,704 |
Working capital (deficit) |
(1,692) |
970 |
(1,692) |
970 |
(1) Basic and diluted. |
Summary of Quarterly Result
|
2025 |
2024 |
2023 |
|||||
|
Qtr 2 |
Qtr 1 |
Qtr 4 |
Qtr 3 |
Qtr 2 |
Qtr 1 |
Qtr 4 |
Qtr 3 |
Total assets ($ millions) |
14.1 |
14.3 |
14.4 |
16.2 |
16.3 |
19.5 |
1.2 |
1.3 |
Total liabilities ($ millions) |
10.7 |
9.8 |
9.2 |
8.7 |
8.6 |
10.2 |
1.0 |
0.7 |
Expense ($ millions) |
1.1 |
0.9 |
1.1 |
1.3 |
1.5 |
0.9 |
1.0 |
0.6 |
Net loss ($ millions) |
1.5 |
1.0 |
2.0 |
1.4 |
1.6 |
0.9 |
1.0 |
0.6 |
Net loss per share (1) ($) |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Shares outstanding (millions) |
623.3 |
617.8 |
617.6 |
611.5 |
599.9 |
494.8 |
482.7 |
476.4 |
(1) Basic and diluted. |
Outlook
Fort à
Buffalo Hills mineral properties
Management continues to review the recent results from the diamond valuation and typing analysis with a view to possible work programs and a potential path forward for the asset. A more detailed update on activities at Buffalo Hills will be provided as it becomes available.
About
The Company also holds a 100% interest in the exploration and evaluation properties of the
Technical Information
All technical information in this press release has been prepared under the supervision of
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Caution Regarding Forward-looking Statements
This press release contains "forward-looking statements" and/or "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes", or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results, "may", "could", "would", "will", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. All statements, other than statements of historical fact, are forward-looking statements.
These forward-looking statements are based on
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. In addition, forward-looking statements are provided solely for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of our operating environment. Accordingly, readers should not place undue reliance on forward-looking statements.
Forward-looking statements in this news release are made as of the date hereof and
SOURCE