NYSE: SBMT
SILVER BOW MINING CORP.CIK 0002067674 · SIC 1040 · Gold Mining
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Silver Bow Mining discloses going concern warning in latest audit, changes auditors
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Silver Bow Mining issues shareholder letter updating operations and recent activities
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Silver Bow grants stock options to CFO and VP of Exploration
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net income -$3.0M. Silver Bow Mining raises in May IPO, plans exploration spend over next year
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Silver Bow Mining completes $54.6M IPO, issues 5.2M shares at 7% underwriting fee
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Latest financial statements
From 10-Q filed Aug 13, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Operations (Unaudited)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Operating expenses | ||||
| Exploration costs | 2,509,027 | 98,521 | 2,918,083 | 302,391 |
| Depreciation | 30,122 | 5,996 | 44,296 | 11,992 |
| Salaries and wages | 1,212,654 | 355,292 | 1,831,855 | 671,466 |
| General and administration | 663,601 | 130,685 | 1,057,062 | 200,272 |
| Management and advisory | 160,460 | 165,344 | 782,478 | 5,085,987 |
| Professional fees | 750,378 | 541,104 | 1,766,254 | 632,507 |
| Operating lease expenses | 5,943 | 44,518 | 5,943 | 113,601 |
| Net loss from operations | 5,332,185 | 1,341,460 | 8,405,971 | 7,018,216 |
| Other (income) expenses | ||||
| Sub-lease income | - | (10,032) | - | (51,951) |
| Foreign exchange gain (loss) | (24,683) | 41,530 | (17,029) | 33,488 |
| Interest income | (333,930) | - | (398,601) | - |
| Interest expense | 30,235 | 20,751 | 50,260 | 28,757 |
| Other (income) expense | (45) | 7,899 | (208) | 5,433 |
| Total other (income) expenses | (328,423) | 60,148 | (365,578) | 15,727 |
| Net loss | 5,003,762 | 1,401,608 | 8,040,393 | 7,033,943 |
| Net loss per share, basic and diluted | 0.18 | 0.08 | 0.31 | 0.43 |
| Weighted average shares, basic and diluted | 27,850,167 | 16,708,376 | 25,873,920 | 16,187,180 |
Consolidated Balance Sheets (Unaudited)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current Assets | ||
| Cash and cash equivalents | 55,825,576 | 10,554,948 |
| Prepaid expenses | 817,884 | 177,075 |
| Other current assets | 482,999 | 250,496 |
| 57,126,459 | 10,982,519 | |
| Non-current Assets | ||
| Restricted cash reclamation deposit | 1,538,611 | 225,788 |
| Right of use asset | 91,333 | - |
| Property and equipment, net | 979,646 | 253,469 |
| Mineral properties | 42,831,804 | 38,261,379 |
| Total Assets | 102,567,853 | 49,723,155 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current Liabilities | ||
| Accounts payable and accrued liabilities | 1,596,691 | 1,512,225 |
| Lease liability short term | 22,895 | - |
| Short term obligation Great Republic mineral property | 500,000 | - |
| Total current liabilities | 2,119,586 | 1,512,225 |
| Non-current Liabilities | ||
| Environmental remediation reserve | 222,693 | 222,693 |
| Lease liability long term | 74,381 | - |
| Long term obligation Great Republic mineral property | 3,500,000 | - |
| Total Liabilities | 5,916,660 | 1,734,918 |
| Commitments and Contingencies - Note 8 | ||
| Stockholders’ Equity | ||
| Common shares, no par value, unlimited shares authorized; 29,528,500 issued and outstanding at June 30, 2026 (December 31, 2025 24,143,500) | 120,259,031 | 64,080,293 |
| Additional paid-in capital | 8,497,005 | 7,972,394 |
| Accumulated deficit | (32,104,843) | (24,064,450) |
| Total Stockholders’ Equity | 96,651,193 | 47,988,237 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | 102,567,853 | 49,723,155 |
Consolidated Statements of Cash Flows (Unaudited)
| Description | June 30, 2026 | June 30, 2025 |
|---|---|---|
| Cash flows provided by (used in): | ||
| Operating activities | ||
| Net loss for year | (8,040,393) | (7,033,943) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation | 718,966 | 5,081,405 |
| Depreciation expense | 44,296 | 11,992 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses | (640,809) | 69,669 |
| Accounts payable and accrued liabilities | 84,466 | (507,401) |
| Net change in operating lease assets and liabilities | 5,943 | (10,430) |
| Other assets and liabilities, net | (232,503) | 2,878 |
| Net cash flows used in operating activities | (8,060,034) | (2,385,830) |
| Investing activities | ||
| Acquisition of mineral rights Great Republic | (570,425) | - |
| Acquisition of mineral rights Goldsmith | - | (1,006,851) |
| Acquisition of purchase of Ferry Lane | - | (300,000) |
| Purchase property and equipment | (770,473) | - |
| Net cash flows used in investing activities | (1,340,898) | (1,306,851) |
| Financing activities | ||
| Warrant exercises | 900,000 | 3,544,177 |
| Proceeds from issuance of common stock, net of costs | - | 1,912,078 |
| Proceeds from IPO, net of costs | 55,084,383 | - |
| Net cash flows provided by financing activities | 55,984,383 | 5,456,255 |
| Net increase in cash and restricted cash | 46,583,451 | 1,763,574 |
| Cash and restricted cash, beginning of year | 10,780,736 | 481,418 |
| Cash and restricted cash, end of period | 57,364,187 | 2,244,992 |
| Supplemental disclosure of noncash investing and financing activities | ||
| Obligation for acquisition of Great Republic mineral property (see Note 6) | 4,000,000 | - |
| Shares to be issued Lane F (see Note 6) | - | 2,265,000 |
Amounts as printed on the EDGAR/iXBRL face. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗