Earnings ·
First Phosphate raises CAD 17.7M in flow-through equity and reports Q2 loss of CAD 11.5M
PHOSFirst Phosphate Corp.
First Phosphate Corp. reported a net loss of CAD 11.5 million for the three months ended August 31, 2026, and CAD 19.5 million for the six-month period, driven by increased mining exploration and metallurgy expenses at its Bégin-Lamarche property in Quebec. The company raised approximately CAD 17.7 million through the issuance of flow-through shares and units in June and July 2026, alongside proceeds from warrant and option exercises. Operating cash outflows totaled CAD 21.1 million for the six months, partially offset by financing inflows of CAD 20.9 million. The company also secured government grants totaling over CAD 2.1 million and advanced its feasibility study plans. First Phosphate is a mineral exploration and development company focused on building a vertically integrated supply chain for lithium iron phosphate batteries in North America.