K2 Gold Corporation (KTO) Financings
TSXV: KTO · Gold · Exploration stage
- Market cap$167.1M
- Share price$0.690
- 52-week range$0.355 – $0.950
- Shares outstanding242,238,851
- ExchangeTSXV
- Websitek2gold.com
K2 Gold is part of Discovery Group, an alliance of companies responsible for the discovery of over 10 million ounces of gold. The Mojave Project is a +6000-hectare oxide gold project with base metal targets located in Inyo County, California encompassing a 10km x 10km system of gold dominant polymetallic mineralization. Multiple previously recognized surface gold targets have been successfully drilled in the past, most notably by Newmont and BHP. Since acquiring the property, K2 has completed geochemical and geophysical surveys, geologic mapping, LiDAR, a WorldView 3 alteration survey, and successfully completed a 17-hole RC drill program focused on the Dragonfly and Newmont Zones. Highlights from K2's drilling program include 6.68 g/t Au over 45.72m from surface at the Dragonfly Zone, and 1.69 g/t Au over 41.15m from 44.20m depth at the Newmont Zone. A follow up phase of drilling at Mojave is currently underway and will continue for the remainder of 2026. The Si2 Project is a low-sulphidation epithermal gold system located in Nevada within the Walker Lane Trend. Historical shallow drilling tested only the uppermost levels of the system and returned anomalous gold, silver, and pathfinder elements. Since acquiring the project, K2 has completed detailed geologic mapping, surface geochemistry, geophysics, alteration mineralogy studies, fluid inclusion analysis, and age dating. These integrated datasets confirm that prior drilling did not test the interpreted boiling zone, where gold grades are typically maximized in epithermal systems. In early 2026, K2 completed an 8-hole, 3,871m exploration drilling program targeting the depths of the system and successfully intersected broad intervals of gold mineralization and blind-to-surface quartz veining. The Wels Project lies approximately 60km south of Fuerte Metals Coffee project discovered by Kaminak Gold Corporation (formerly a Discovery Group company prior to its acquisition by Goldcorp-Newmont). Both the Coffee project and the Wels project lie within the Tintina Gold Belt, share similar characteristics, and are host to structurally controlled gold mineralization within intrusive rocks exhibiting multiple trends of mineralization. K2's 2023 Reverse Circulation drilling program at the Wels Project intersected gold in each of 12 drill holes, including the discovery of a new mineralized corridor at the Saddle South target. The Wolf Project is a new district-scale gold exploration project in west-central Yukon Territory, Canada, located 80 km south of the 3 Moz Au Coffee Gold Project currently under development by Fuerte Metals. Wolf consists of the Wolf South block, a >10km long gold-in-soil anomaly previously held by multiple operators and consolidated by K2, and the Wolf North claim blocks which host greenfield intrusion-related and epithermal gold targets.
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K2 Gold Corporation financial statements
Key figures read from 41 of 41 financial statement filings, Nov 28, 2016 to Aug 14, 2026. Each column is the period as the company first filed it.
Balance sheet: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| Dec 2025 | Dec 2024 | Jan 2024 | Dec 2023 | Dec 2022 | |
|---|---|---|---|---|---|
| Cash and equivalents | C$10,854,686 | C$132,792 | C$195,160 | C$195,160 | C$313,217 |
| Total current assets | C$11,079,864* | C$204,024* | C$293,210* | C$293,210* | C$373,381* |
| Total current liabilities | C$377,219 | C$110,436 | C$297,821 | C$297,821 | — |
| Working capital | C$10,702,645 | C$93,588 | (C$4,611) | (C$4,611) | — |
| Exploration and evaluation assets | C$7,275,262 | C$18,153,880 | C$3,976,241 | C$16,407,714 | C$12,586,251 |
| Total assets | C$18,424,736 | C$18,429,849 | C$4,335,581 | C$16,767,054 | C$13,027,352 |
| Debt | C$0 | C$0 | C$40,000 | C$40,000 | C$40,000 |
| Total liabilities | — | — | — | C$297,821 | C$216,535 |
| Shareholders' equity | C$18,047,517 | C$18,319,413 | C$4,037,760 | C$16,469,233 | C$12,810,817 |
* Calculated from the statement's own lines: the company did not print this total with a label.
Income statement: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2025 | FY Dec 2024 | FY Dec 2023 | FY Dec 2022 | FY Dec 2021 | |
|---|---|---|---|---|---|
| Exploration and evaluation expense | C$2,671,041 | — | — | — | — |
| General and administrative | C$118,022 | C$124,382 | C$133,239 | C$121,806 | C$177,027 |
| Share-based compensation | C$999,533 | C$8,946 | C$303,695 | C$303,462 | C$326,591 |
| Net income (loss) | (C$4,843,032) | (C$800,901) | (C$1,079,001) | (C$1,237,349) | (C$1,816,111) |
Cash flow statement: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2024 | FY Dec 2023 | FY Dec 2022 | FY Dec 2021 | FY Dec 2020 | |
|---|---|---|---|---|---|
| Operating cash flow | (C$2,463,036)* | (C$1,060,705)* | (C$951,537)* | — | (C$1,245,638)* |
| Investing cash flow | (C$168,267)* | (C$3,804,240)* | (C$1,585,926)* | — | (C$3,728,743)* |
| Financing cash flow | C$2,568,935* | C$4,746,888* | — | — | C$9,498,067* |
| Exploration spending (capitalized) | (C$168,267) | (C$3,811,740) | (C$1,628,426) | — | (C$3,665,083) |
| Proceeds from share issues | C$2,757,500 | C$4,997,542 | — | — | C$7,000,000 |
| Change in cash | (C$62,368) | (C$118,057) | (C$2,537,463) | (C$4,553,817) | C$4,523,686 |
| Cash at end of period | C$132,792 | C$195,160 | C$313,217 | C$2,850,680 | C$7,404,497 |
* Calculated from the statement's own lines: the company did not print this total with a label.
K2 Gold Corporation financings
1 financing announced or closed by K2 Gold Corporation, read by Mining News Terminal, newest first.
| Date | Company | Type | Stage | Amount | Unit price | Release |
|---|---|---|---|---|---|---|
| 2026-02-10 | K2 Gold Corporation (KTO) | LIFE offering | Closed, 1 tranche | $25.3M | $0.700 | K2 Gold Corporation Closes C$25.25 Million Financing |