Sinda Q2 FY26 net loss widens to USD 16.6 million
SIND•Drilling progress and future plans
Phase 1 drilling finished at 60,810 meters; a 9-km exploration decline remains slated to start construction in the second half of 2026.
IPO proceeds and liquidity position
The IPO raised USD 213 million gross; underwriters’ option added USD 23 million gross, while Fresnillo bought a 5% stake for USD 95.3 million gross.
Cash totaled about USD 204.3 million at June 30, excluding July proceeds; post-IPO liquidity was USD 320.7 million.
Quarterly loss widens on higher spending
Sinda posted a net loss of USD 16.6 million, widening from a USD 2.2 million loss a year earlier.
The loss widened on higher exploration and development spending, and higher general and administrative costs tied to drilling and IPO preparations.
