MetalQuest Mining Inc. (MQM) Financings
TSXV: MQM · Iron · Exploration stage
- Market cap$5.4M
- Share price$0.110
- 52-week range$0.110 – $0.400
- Shares outstanding48,947,024
- ExchangeTSXV
- Websitemetalquestmining.com
MetalQuest owns 100% of Lac Otelnuk Iron and Superior Iron projects. The Company is working to develop the iron projects as one of the largest in North America. The Lac Otelnuk Iron project is underlain by rocks of the Labrador Trough in northern Quebec, approximately 165 km northwest of the Town of Schefferville, and 1,200 km northeast of Montreal. Following a recent buy-back of a 1% interest in the underlying royalty, the combined royalty remains 2.5%. As approximately $120 million has been expended historically on the Lac Otelnuk Iron project, the Company has access to a vast amount of historical technical data. Going forward, one of the Company's primary objectives will be to continue to work with Naskapi First Nation of Kawawachikamach with whom an Exploration and Pre-Development Agreement was established in November 2023. An in-person meeting to update the Naskapi on the two iron projects was conducted in early June 2026.
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MetalQuest Mining Inc. financial statements
Key figures read from 38 of 38 financial statement filings, May 30, 2017 to Sep 23, 2026. Each column is the period as the company first filed it.
Balance sheet: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| Jan 2026 | Jan 2025 | Jan 2024 | Jan 2023 | Jan 2022 | |
|---|---|---|---|---|---|
| Cash and equivalents | C$1,507,368 | C$73,808 | C$275,998 | C$426,699 | C$785,275 |
| Short-term investments | C$2,813,000 | C$628,375 | C$448,216 | C$84,263 | C$232,075 |
| Total current assets | C$4,693,483* | C$754,150* | C$768,396* | C$518,451* | — |
| Exploration and evaluation assets | C$471,908 | C$144,508 | C$0 | C$66,114 | — |
| Property, plant and equipment | — | — | — | — | C$0 |
| Total assets | C$5,165,391 | C$898,658 | C$843,944 | C$594,564 | C$1,020,218 |
| Total liabilities | C$291,315 | C$265,887 | C$98,430 | C$67,574 | C$22,996 |
| Shareholders' equity | C$4,874,076 | C$632,771 | C$745,514 | C$526,990 | C$997,222 |
* Calculated from the statement's own lines: the company did not print this total with a label.
Income statement: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Jan 2026 | FY Jan 2025 | FY Jan 2024 | FY Jan 2023 | FY Jan 2022 | |
|---|---|---|---|---|---|
| General and administrative | C$397,755 | C$264,024 | C$263,847 | C$268,553 | C$235,647 |
| Share-based compensation | C$215,582 | C$54,897 | C$283,120 | C$8,636 | C$32,013 |
| Net income (loss) | C$1,590,049 | (C$167,640) | (C$64,596) | (C$478,868) | (C$122,166) |
Cash flow statement: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Jan 2026 | FY Jan 2025 | FY Jan 2024 | FY Jan 2023 | FY Jan 2022 | |
|---|---|---|---|---|---|
| Operating cash flow | (C$978,289) | (C$181,062) | (C$434,239) | (C$292,462) | (C$303,832) |
| Investing cash flow | (C$23,825) | (C$21,128) | C$283,538 | (C$66,114) | C$164,062 |
| Financing cash flow | C$2,435,674 | — | — | C$0 | C$283,750 |
| Exploration spending (capitalized) | (C$238,570) | (C$68,960) | (C$329,500) | (C$66,114) | — |
| Property, plant and equipment spending | — | — | — | C$0 | (C$3,033) |
| Proceeds from share issues | C$2,435,674 | — | — | — | — |
| Change in cash | C$1,433,560 | (C$202,190) | (C$150,701) | (C$358,576) | C$143,980 |
| Cash at end of period | C$1,507,368 | C$73,808 | C$275,998 | C$426,699 | C$785,275 |
MetalQuest Mining Inc. financings
2 financings announced or closed by MetalQuest Mining Inc., read by Mining News Terminal, newest first.
| Date | Company | Type | Stage | Amount | Unit price | Release |
|---|---|---|---|---|---|---|
| 2025-12-04 | MetalQuest Mining Inc. (MQM) | Flow-through, non-brokered | Closed, 1 tranche | $2.5M | $0.180 | MetalQuest Mining Inc. |
| 2025-07-31 | MetalQuest Mining Inc. (MQM) | Private placement, non-brokered | Closed, 1 tranche | $517K | — | MetalQuest Mining Inc. |