Borealis Mining Company Limited (BOGO) Financings
TSXV: BOGO · Gold · Production stage
- Market cap$125.5M
- Share price$0.850
- 52-week range$0.740 – $2.04
- Shares outstanding147,592,227
- ExchangeTSXV
- Websiteborealismining.com
Borealis Mining is a gold mining and exploration company focused on the advancement of its Nevada-based assets, including ongoing mining and production activities at the Borealis Gold Mine and the development of its Sandman Gold Project. The Borealis Gold Mine is a fully permitted mine site, equipped with active heap leach pads, an ADR facility, and all necessary infrastructure to support a heap leach gold mining operation. In addition to the mine, the property, comprised of 815 unpatented mining claims of approximately 20 acres each totaling approximately 16,300 acres and one unpatented mill site claim of about five acres located in western Nevada, is highly prospective for additional high-sulfidation gold mineralization. The Sandman project, previously acquired through the acquisition of Gold Bull Resources Inc., is an advanced exploration project with a recently completed (2021) NI 43-101 compliant resource and a recent (2026) Preliminary Economic Assessment which indicates compelling economics, particularly relative to the base case assumptions used in the study. Borealis is led by a strong board and management team, many of whom have founded, managed, and sold highly successful mining and exploration companies.
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Borealis Mining Company Limited financial statements
Key figures read from 17 of 19 financial statement filings, Apr 27, 2022 to Jun 22, 2026. Each column is the period as the company first filed it.
Balance sheet: annual key figures
figures as printed in the statements. Losses and cash outflows are in brackets.
| Jul 2025 | Jul 2024 | Dec 2023 | Jul 2023 | Dec 2022 | |
|---|---|---|---|---|---|
| Cash and equivalents | US$3,183,238 | US$2,633,977 | C$1,525 | US$1,029,363 | — |
| Total current assets | US$6,258,716 | US$4,750,456 | — | US$1,654,233 | — |
| Total current liabilities | US$1,098,337 | US$647,182 | — | US$5,804,485 | — |
| Working capital | US$5,160,379 | US$4,103,274 | — | (US$4,150,252) | — |
| Property, plant and equipment | US$271,355 | US$339,563 | — | US$446,751 | — |
| Total assets | US$9,014,096 | US$7,374,188 | C$9,738 | US$2,126,614 | C$1,525 |
| Total liabilities | US$11,833,019 | US$11,341,416 | — | US$16,644,367 | — |
| Shareholders' equity | (US$2,818,923) | (US$3,967,228) | — | (US$14,517,753) | — |
Income statement: annual key figures
figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Jul 2025 | FY Jul 2024 | FY Dec 2023 | FY Jul 2023 | FY Dec 2022 | |
|---|---|---|---|---|---|
| Revenue | US$3,782,015 | US$995,563 | — | US$0 | — |
| Cost of sales | (US$3,289,458) | (US$866,866) | — | (US$196,997) | — |
| Exploration and evaluation expense | (US$5,152,320) | US$2,464,559 | — | US$6,464 | — |
| General and administrative | US$5,749,797 | US$2,026,021 | C$40,000 | US$245,287 | C$40,000 |
| Net income (loss) | (US$14,872,323) | (US$6,119,888) | (C$71,167) | (US$16,344,645) | (C$63,961) |
Cash flow statement: annual key figures
figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Jul 2025 | FY Jul 2024 | FY Dec 2023 | FY Apr 2023 | FY Dec 2022 | |
|---|---|---|---|---|---|
| Operating cash flow | (US$6,296,946) | (US$7,579,392) | C$1,524 | (US$673,320) | C$0 |
| Investing cash flow | US$132,512 | (US$2,486,407) | — | (US$124,209) | — |
| Financing cash flow | US$6,567,336 | US$11,809,810 | — | US$1,848,224 | — |
| Property, plant and equipment spending | (US$168,166) | (US$227,868) | — | (US$29,698) | — |
| Proceeds from share issues | US$6,377,447 | US$11,809,810 | — | US$1,848,224 | — |
| Change in cash | US$402,902 | US$1,744,011 | C$1,524 | US$1,050,695 | C$0 |
| Cash at end of period | US$3,183,238 | US$2,633,977 | C$1,525 | US$1,029,363 | C$1 |
Borealis Mining Company Limited financings
1 financing announced or closed by Borealis Mining Company Limited, read by Mining News Terminal, newest first.
| Date | Company | Type | Stage | Amount | Unit price | Release |
|---|---|---|---|---|---|---|
| 2025-02-24 | Borealis Mining Company Limited (BOGO) | Private placement, bought deal | Announced | $10.0M | $0.560 | BOREALIS FILES FINAL SHORT FORM PROSPECTUS IN CONNECTION WITH $10 MILLION BOUGHT DEAL OFFERING Final Short Form Prospectus is Accessible on SEDAR+ |