Business
Dundee Corporation Reports First Quarter 2026 Financial Results and Progress on Strategic Mining Platform
TORONTO, May 12, 2026 (GLOBE NEWSWIRE) -- “ The first quarter of 2026 was an important pe...
About this update from Dundee Corporation Class A
[{"type":"text","content":"Dundee Corporation Reports First Quarter 2026 Financial Results and Progress on Strategic Mining Platform \nTORONTO, May 12, 2026 (GLOBE NEWSWIRE) -- “The first quarter of 2026 was an important period for Dundee as it marked a meaningful step in the execution of our strategy,” said Jonathan Goodman, President and Chief Executive Officer of Dundee Corporation. “During the quarter, we closed an $85 million strategic partnership with Westhaven Gold Corp. to advance the Shovelnose Gold Project and the Spences Bridge Gold Belt. This transaction builds on Dundee’s long history as an active and engaged mining investor and represents a meaningful step toward deeper technical involvement, more direct project ownership, and potential future operatorship. In addition, we further strengthened our liquidity position through the sale of our net smelter royalty on the Borborema Gold Project.” “Our recently announced earn-in and joint-venture agreement with Westhaven Gold reflects the type of disciplined, project-level capital allocation that we believe can create long-term and sustainable value for Dundee shareholders,” Mr. Goodman continued. “The agreement provides Dundee with a path to earn up to a 60% interest in a district-scale portfolio of gold projects in the Spences Bridge Gold Belt, including the Shovelnose Gold Project, through staged expenditures tied to defined work programs. It allows us to deploy capital directly into the ground while maintaining discipline around timing, ownership, technical milestones and future decision-making.” “Dundee has a long history of identifying high-quality mining opportunities early, applying technical and financial judgment, and supporting the patient advancement of assets” Mr Goodman added. “The strategic partnership with Westhaven builds on that experience and brings together the elements we believe are critical to unlocking long-term value: disciplined capital allocation, technical engagement, strong governance, and the operating processes and accountability required to support a durable mining platform over time.” Mr. Goodman concluded: “Fair value movements are an inherent feature of our mining investment portfolio, but they do not define the direction of the business. In the first quarter, we rema...