Financial Statements Q2 2026 & Management’s Discussion and Analysis Q2 2026

Extracted Document Text

This is a readable excerpt of the EGM normalized Markdown text. It helps search engines and researchers understand PDF, filing, or company-document content while the original source remains authoritative.

# Financial Statements Q2 2026 & Management’s Discussion and Analysis Q2 2026

Source: https://goldskyresources.com/wp-content/uploads/2026/09/GSKR-Q2-2026-Financials.pdf
Fetched: 2026-09-12T07:02:18.896+00:00
Source artifact: ac64472f-a306-46f0-880d-853e2f07cd82
Normalizer input: text

## Content

# Financial Statements Q2 2026 & Management’s Discussion and Analysis Q2 2026
GOLDSKY RESOURCES CORP.
(Formerly First Nordic Metals Corp.)
CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
(Unaudited, expressed in Canadian Dollars)
2026 SECOND QUARTER REPORT
June 30, 2026
Notice to Reader
Under National Instrument 51-102, Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of the
condensed consolidated interim financial statements, they must be accompanied by a notice indicating that the
condensed consolidated interim financial statements have not been reviewed by an auditor.
The accompanying unaudited condensed consolidated interim financial statements of the Company have been
prepared by and are the responsibility of the Company’s management.
The Company’s independent auditor has not performed a review of these condensed consolidated interim financial
statements in accordance with the standards established by the Chartered Professional Accountants of Canada for
a review of financial statements by an entity’s auditor.
Goldsky Resources Corp. second quarter report 2026
(Formerly First Nordic Metals Corp.)
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION
(Unaudited, expressed in Canadian dollars)
June 30, 2026 December 31, 2025
ASSETS
Current
Cash $ 56,360,830 $ 84,381,333
Deferred financing cost 160,712 160,712
Receivables 944,762 1,140,935
Bonds 101,325 101,119
Prepaid expenses 396,612 408,527
57,964,241 86,192,626
Non-current
Right of use asset (note 13) 292,296 347,101
Property and equipment 559,626 33,841
Equity investment - exploration and evaluation assets (note 5) - 1
Exploration and evaluation assets (note 6) 371,636,024 91,457,429
Total Assets 430,452,187 178,030,998
LIABILITIES
Current
Accounts payable and accrued liabilities 2,235,299 3,742,487
Lease liability (note 14) 117,079 111,688
Subscriptions received in advance - 681,809
2,352,378 4,535,984
Non-current
Lease liability (note 14) 225,010 283,754
2,577,388 4,819,738
Shareholders’ equity
Share capital (note 7) 483,314,181 214,403,611
Shares to be issued 1,508,731 2,459,449
Reserves (note 7) 34,419,098 13,897,866
Deficit (91,367,211) (57,549,666)
427,874,799 173,211,260
Total liabilities and shareholders’ equity 430,452,187 178,030,998
Nature and continuance of operations (note 1)
Subsequent events (note 15)
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
Approved and authorized by the board on August 31, 2026
/s/ Peter Breese Director /s/ Russell Bradford Director
Peter Breese Russell Bradford
-1-
Goldsky Resources Corp. second quarter report 2026
(Formerly First Nordic Metals Corp.)
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF LOSS AND COMPREHENSIVE LOSS
(unaudited, expressed in Canadian dollars)
Three months ended June 30 Six months ended June 30
2026 2025 2026 2025
OPERATING EXPENSES
Accretion expense $ 9,875 $- $ 19,750 $-
Amortization of Right-of-use asset 27,402 - 54,805 -
Consulting and support services 645,988 926,861 1,100,289 1,463,119
Exploration expenditures (notes 5, 10) 2,292,062 4,257,055 5,958,014 5,867,520
Foreign exchange loss (gain) 188,335 127,113 (161,639) 212,040
Interest income (591,906) (34,091) (1,072,283) (100,660)
Investor relations 87,190 436,955 349,695 924,181
Management fees (note 10) 1,914,578 239,100 2,214,697 368,730
Office and administrative 579,070 489,125 926,836 968,370
Professional fees 195,203 152,159 511,797 235,058
Share-based payments (notes 7, 10) - 891,796 23,730,688 3,609,891
Transfer agent and filing fees 109,808 55,449 184,896 135,703
5,457,605 7,541,522 33,817,545 13,683,952
Loss and comprehensive loss for the period (5,457,605) (7,541,522) (33,817,545) (13,683,952)
Basic and diluted loss per common share (0.03) (0.11) (0.18) (0.20)
Weighted average number of common shares
190,143,001 68,461,216 185,767,135 67,624,416
outstanding – basic and diluted
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
-2-
Goldsky Resources Corp. second quarter report 2026
(Formerly First Nordic Metals Corp.)
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
(unaudited, expressed in Canadian dollars, except number of shares)
Total
Common Share Shares to
Reserves Deficit Shareholders’
Shares Capital be Issued
Equity
Balance, December 31, 2024 66,011,800 $ 43,044,348 $- $ 9,468,862 $ (29,313,760) $ 23,199,450
Shares issued for:
Private placement 776,398 1,397,516 - - - 1,397,516
Share issuance costs - (773,424) - - - (773,424)
Stock options exercised 1,081,371 2,080,197 - (836,355) - 1,243,842
Warrants exercised 1,050,135 1,185,729 - - - 1,185,729
Exercise of compensatory options 4,500 5,940 - - - 5,940
Share based payments - - - 3,609,891 - 3,609,891
Loss and comprehensive loss - - - - (13,683,952) (13,683,952)
Balance, June 30, 2025 68,924,203 46,940,306 - 12,242,398 (42,997,712) 16,184,992
Balance, December 31, 2025 176,651,231 214,403,611 2,459,449 13,897,866 (57,549,666) 173,211,260
Shares issued for:
Acquisition - NBU 20,138 80,150 - - - 80,150
Acquisition - Barsele 75,509,577 243,140,838 - - - 243,140,838
Acquisition - Transaction cost 2,574,833 8,290,963 - - - 8,290,963
Shares to be issued - - 1,508,731 - - 1,508,731
Stock options exercised 3,208,191 7,309,986 - (3,209,456) - 4,100,530
Warrants exercised 3,647,888 6,694,354 - - - 6,694,354
Exercise of Compensatory options 665,326 934,830 - - - 934,830
Shares issued for services 1,618,058 2,459,449 (2,459,449) - - -
Share-based payments - - - 23,730,688 - 23,730,688
Loss and comprehensive loss - - - - (33,817,545) (33,817,545)
Balance, June 30, 2026 263,895,242 483,314,181 1,508,731 34,419,098 (91,367,211) 427,874,799
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
-3-
Goldsky Resources Corp. second quarter report 2026
(Formerly First Nordic Metals Corp.)
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS
(Unaudited, expressed in Canadian dollars)
Six months ended June 30
2026 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Loss for the period $ (33,817,545) $ (13,683,952)
Items not affecting cash:
Share-based payments 23,730,688 3,609,891
Accretion 19,750 -
Amortization 54,805 -
Shares to be issued for management fees 1,508,731 -
Changes in non-cash working capital items:
Receivables 198,113 (187,653)
Prepaid expenses 11,915 (43,746)
Accounts payable and accrued liabilities (1,914,294) (320,526)
Cash used in operating activities (10,207,837) (10,625,986)
CASH FLOWS FROM INVESTING ACTIVITY
Cash acquired on acquisition of NBU 60,529 -
Advances (101,205) -
Cash payment – Barsele acquisition (28,465,700) -
Transaction cost – Barsele acquisition (281,093) -
(28,787,469) -
CASH FLOWS FROM FINANCING ACTIVITY
Private placements - 1,397,516
Share issuance costs - (607,720)
Subscription for shares - 484,840
Repayment of lease liabilities (73,102) -
Proceeds from options exercised 4,100,530 1,243,842
Proceeds from warrants exercised 6,012,545 1,185,729
Proceeds from compensatory options exercised 934,830 5,940
Cash provided by financing activities 10,974,803 3,710,147
Change in cash during the period (28,020,503) (6,915,839)
Cash, beginning of period 84,381,333 9,568,671
Cash, end of period 56,360,830 2,652,832
Supplemental disclosure with respect to cash flows (note 9)
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
-4-
Goldsky Resources Corp. second quarter report 2026
(Formerly First Nordic Metals Corp.)
Notes to the Condensed Consolidated Interim Financial Statements
For the six months ended June 30, 2026
(unaudited, all figures are expressed in Canadian dollars, except per share amounts)
1. NATURE AND CONTINUANCE OF OPERATIONS
Goldsky Resources Corp. (formerly First Nordic Metals Corp.) (the “Company”) was incorporated under the
laws of the Province of British Columbia, Canada on February 20, 2013. The Company’s principal business
activities include the acquisition and exploration of mineral properties in Sweden and Finland. On March 18,
2024, after the closing of the transaction with Gold Line Resources Ltd. (Note 4), the Company changed its
name to First Nordic Metals Corp. On December 22, 2025, after the closing of the transaction with Mawson
Finland Limited (Note 4), the Company changed its name to Goldsky Resources Corp. The Company’s shares
trade on the TSX Venture Exchange under the trading symbol GSKR.V. On March 21, 2025, the Company’s
SDR’s commenced trading on Nasdaq First North under the symbol GSKR SDB with the ISIN SE0023847785.
The head office of the Company is located at Suite 2700, 666 Burrard Street, Vancouver, BC, Canada,
V6C 2X8. The registered address and records office of the Company is located at Suite 1700, Park Place, 666
Burrard Street, Vancouver, BC, Canada, V6C 2X8.
On February 23, 2024, the Company closed the transaction to acquire 100% of the shares of Gold Line
Resources Ltd. (“Gold Line”), a Canadian exploration company listed on the TSX-V and OTC Exchange, for
total consideration of $4,754,444 (note 4). On December 16, 2025, the Company closed the transaction to
acquire 100% of the shares of Mawson Finland Limited (“Mawson”), a Canadian exploration company listed
on the TSX-V, for a total consideration of $75,871,879 (Note 4).
On December 10, 2025, the Company consolidated its outstanding share capital on the basis of four (4) pre-
consolidated shares for one (1) post consolidated share (the “Consolidation”). All share amounts have been
adjusted to reflect the consolidation. The exercise price and number of common shares issuable upon the
exercise of the Company’s outstanding options and warrants have also been proportionately adjusted.
These condensed consolidated interim financial statements have been prepared on a going concern basis
which assumes that the Company will be able to realize its assets and discharge its liabilities in the normal
course of business rather than through a process of forced liquidation. The Company has raised adequate
funds during the prior year and anticipates that it has sufficient capital to meet its current obligations for the
next twelve months.
2. BASIS OF PREPARATION
a) Statement of compliance
These condensed consolidated interim financial statements have been prepared in accordance with
accounting policies consistent with International Accounting Standards (“IAS”) 34, Interim Financial
Reporting using the Principles of IFRS Accounting Standards as issued by the International Accounting
Standards Board (IASB).
These condensed consolidated interim financial statements do not include all the information required
for full annual financial statements and, accordingly, should be read in conjunction with the Company’s
annual consolidated financial statements for the year ended December 31, 2025.
b) Basis of measurement
These condensed consolidated interim financial statements have been prepared on a historical cost basis,
except for financial instruments measured at fair value. In addition, these financial statements have been
prepared using the accrual basis of accounting except for cash flow information.
-5-
Goldsky Resources Corp. second quarter report 2026
(Formerly First Nordic Metals Corp.)
Notes to the Condensed Consolidated Interim Financial Statements
For the six months ended June 30, 2026
(unaudited, all figures are expressed in Canadian dollars, except per share amounts)
c) Basis of consolidation
These condensed consolidated financial statements include the accounts of the Company and its wholly-
owned subsidiaries, being Gold Line Resources Ltd. (British Columbia, Canada), Gold L

[Excerpt trimmed for readability. Open the original source for the complete filing or document.]