Canada's Dundee posts Q1 net loss on mining investment declines

ReutersMay 12, 2026 9:42 PM

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Overview

Canada mining investment firm's Q1 net loss attributable to owners was C$6.7 mln
Q1 loss driven by fair value declines in New Found Gold and Magna Mining investments
Company closed C$85 mln strategic partnership with Westhaven Gold and sold Borborema royalty

Outlook

Dundee expects to earn its first interest in JVCO with Westhaven Gold in late 2026 or early 2027

Result Drivers

PORTFOLIO LOSSES - Fair value declines in New Found Gold and Magna Mining investments drove Q1 net loss
ASSET SALE GAIN - Gain on sale of Borborema Gold Project royalty partially offset portfolio losses
STRATEGIC PARTNERSHIP - Closed C$85 mln partnership with Westhaven Gold to advance gold projects

Company press release: ID:nGNX97HRmb

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 EPS		-C$0.07
Q1 Net Income		-C$6.70 mln

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

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