Elysee Announces Results for Three and Six Months Ended June 30, 2026

Rhea-AI Summary

Elysee Development (TSXV: ELC, OTC: ASXSF) reported a Q2 2026 net loss of $665,865 ($0.02 per share), versus net earnings of $1,023,604 ($0.04 per share) in Q2 2025, reflecting weaker metals markets and unrealized losses on marketable securities. For the six months ended June 30, 2026, the company recorded net earnings of $1,264,376 ($0.04 per share), down from $2,946,468 in the prior-year period, driven by lower net investment earnings.

Net asset value (NAV) per share increased to $0.78 at June 30, 2026 from $0.76 at December 31, 2025 and $0.42 at December 31, 2024, with cash on hand of $4,774,853. Operating costs declined, as total expenses fell to $139,604 in Q2 2026 and interest expense dropped to $6,957 following early redemption of convertible debentures in Q4 2025.

During the first half, Elysee realized $3,971,104 in gains on securities, generated $150,680 in interest and dividend income, and recorded $7,297,524 of sale proceeds, of which $6,655,362 was reinvested. The company also made pre-IPO investments in Probe Metals and Greyridge Exploration and repurchased 86,000 shares under its normal course issuer bid.

Positive

• Six‑month net earnings of $1,264,376 ($0.04 per share) in 2026
• NAV per share up to $0.78 from $0.76 at December 31, 2025
• Realized gains on securities of $3,971,104 in the first half of 2026
• Operating expenses reduced to $139,604 in Q2 2026 from $171,968 in Q2 2025
• Interest expense cut to $6,957 in Q2 2026 from $51,850 in Q2 2025
• Share buyback of 86,000 shares under the Normal Course Issuer Bid in Q2 2026

Negative

• Q2 2026 net loss of $665,865 versus net earnings of $1,023,604 in Q2 2025
• Six‑month net earnings down to $1,264,376 from $2,946,468 in 2025
• Q2 2026 net investment loss of $526,261 versus earnings of $1,195,572 in Q2 2025
• Unrealized loss on marketable securities of $2,062,851 in Q2 2026
• Cash balance declined to about $3.9 million by August 7, 2026 from $4,774,853 at June 30, 2026

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Vancouver, British Columbia--(Newsfile Corp. - August 11, 2026) - Elysee Development Corp. (TSXV: ELC) (FSE: QLDN) (the "Company") is pleased to announce its unaudited financial results for the six and three months ended June 30, 2026 ("Q2 2026"). All dollar amounts are in Canadian funds.

Highlights from the Q2 2026 results include:

• Net loss of $665,865 ($0.02 per share) in Q2 2026 as compared to net earnings of $1,023,604 ($0.04 per share) in Q2 2025;
• Net earnings of $1,264,376 ($0.04 per share) for the six months ended June 30, 2026;
• Net Asset Value ('NAV') per share increased to $0.78 per share as of June 30, 2026 from $0.76 per share on December 31, 2025; and
• Cash on hand as of June 30, 2026 of $ 4,774,853.

During Q2 2026, prices of gold and silver and other metals experienced significant declines. Only the copper price rose moderately. Share prices of major gold producers fell 17.8% (GDX tracker) while junior miners declined more than 18% (GDXJ tracker). Shares of copper producers were stable overall. The TSX-V index fell more than 7% during that period. By comparison, Elysee's net asset value declined only $647,357 (2.8%) after operating expenses, but excluding the purchase of shares through its normal course issuer bid.

Guido Cloetens, President and CEO of Elysee, stated:

"The second quarter was a difficult period for investors in mining stocks and related sectors due to the geopolitical turmoil in the world. However, Elysee's portfolio performed relatively well compared to our sector's benchmarks.

"In the first quarter we took advantage of high stock prices by reducing our equity exposure. As a result, our cash position increased to almost 30% of our investment portfolio at the start of Q2. In recent weeks we started deploying a portion of our cash position by investing in new and existing portfolio companies. We believe that prices for precious metals have bottomed during the month of July. Prices of gold and other mining stocks have rebounded sharply since the beginning of August."

Selected Financial and Comparative Information:

	Three months ended June 30		Six months ended June 30
	2026	2025	2026	2025
Net investment earnings (loss)	$(526,261)	$1,195,572	$1,561,514	$3,320,311
Total expenses	($139,604)	($171,968)	($297,138)	($373,843)
Net earnings (loss)	($665,865)	$1,023,604	$1,264,376	$2,946,468
Earnings (loss) per share	($0.02)	$0.04	$0.04	0.10
Earnings (loss) per share (fully diluted)	($0.02)	$0.04	$0.04	0.10

 

During Q2 2026, Elysee's investment portfolio recorded a realized gain on marketable securities of $1,413,813, interest and dividend income of $80,199 and an unrealized foreign exchange gain of $50,436, offset by an unrealized loss on marketable securities of $2,062,851 and general and administrative expenses of $139,604.

Of note, interest expense during the period was reduced to $6,957 from $51,850 during Q2 2025 due to the early redemption of convertible debentures in Q4 2025. As a result, operating costs declined significantly compared to Q2 2025.

During the six months ended June 30, 2026, Elysee recorded net investment earnings of $1,561,514 with a realized gain on securities of $3,971,104, interest and dividend income of $150,680 and an unrealized foreign exchange gain of $74,357, offset by an unrealized loss on marketable securities of $2,605,972 and G&A expenses of $297,138, resulting in net income of $1,264,376 for the first six months of 2026 ($0.04 per share).

Proceeds from the sale of marketable securities totaled $7,297,524 during the first six months of the year, with $6,655,362 used to purchase new investments.

Change in Net Asset Value per Share since December 31, 2023:

	Shares Issued	Net Asset Value ("NAV")	NAV per share	Cash on Hand
June 30, 2026	28,194,189	$22,108,524	$0.78	$4,774,853
December 31 2025*	28,341,859	$21,486,984	$0.76	$5,115,658
December 31 2024*	28,321,613	$11,949,377	$0.42	$1,532,977
December 31 2023*	28,585,113	$11,157,918	$0.39	$849,798

 

*Audited

Notable activity in our portfolio during the quarter included:

• Closing of the acquisition of Arizona Sonoran Copper by Hudbay Minerals and completion of the takeover of Lithium South Development Corp. by POSCO Argentina, with proceeds of these sales used to strengthen our investments in existing positions through purchases in the open market and the exercise of several warrant positions that were "in the money" as well as new investments;
• A pre-IPO investment of $225,000 in Probe Metals Ltd., a private exploration company managed by the same team that ran Probe Gold until it was acquired by Fresnillo Plc. in 2025.
• A pre-IPO investment of US$325,000 was made in Greyridge Exploration Corp., a private company with an experienced managed team that is one of the largest foreign holders of gold and copper exploration rights in Saudi Arabia. The company is planning to start drilling several targets in the coming months.

Outlook:

It appears that the price of gold and silver bottomed out in July 2026, with the price of precious metals and copper up sharply higher in recent days, followed by their respective mining stocks.

The Company's current cash position declined further to approximately $3.9 million as of August 7, 2026 from $4,774,853 as of June 30, 2026 due to recent buying of select stocks in the market to take advantage of oversold equities. We have further increased our exposure to copper during this period.

The most significant marketable equity investments on June 30, 2026 were Equinox Gold Corp., Agnico Eagle Mines Limited, Hudbay Minerals Inc., Hot Chili Limited, DPM Metals Inc. and Wesdome Gold Mines Ltd.

During the three months ended June 30, 2026, the Company purchased 86,000 of its shares pursuant to a Normal Course Issuer Bid. There were 28,194,189 shares outstanding at the end of the period.

For more information on these investments and others made during the period, please refer to the MD&A dated August 5, 2026 on SEDAR+ or on our website at www.elyseedevelopment.com.

On June 30, 2026, Elysee's net asset value ("NAV") was $0.78 per share compared to $0.76 on December 31, 2025. NAV is a non-GAAP (generally accepted accounting principles) measure calculated as the value of total assets less the value of total liabilities divided by the total number of common shares outstanding as at a specific date. For the purpose of this calculation, share purchase warrants held by Elysee were valued using the Black-Scholes model calculation, as reported in our annual and quarterly financial statements. The term NAV does not have any standardized meaning according to GAAP and therefore may not be comparable to similar measures presented by other companies. There is no comparable GAAP measure presented in Elysee's financial statements and thus no applicable quantitative reconciliation for such non-GAAP financial measure. The Company believes that NAV can provide information useful to its shareholders in understanding its performance and may assist in the evaluation of its business relative to that of its peers.

The Financial Statements and Management Discussion and Analysis are available for viewing on SEDAR+ and at www.elyseedevelopment.com.

FOR FURTHER IN FORMATION, PLEASE CONTACT:

Guido Cloetens President and CEO Elysee Development Corp.
Tel: (604) 997-8011	E-mail: info@elyseedevelopment.com

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309102

FAQ

How did Elysee Development (ASXSF) perform financially in Q2 2026?

Elysee Development reported a Q2 2026 net loss of $665,865 or $0.02 per share. According to the company, this compares to net earnings of $1,023,604 ($0.04 per share) in Q2 2025, mainly reflecting lower net investment earnings and unrealized losses.

What were Elysee Development’s six-month results to June 30, 2026 (ASXSF)?

For the six months ended June 30, 2026, Elysee achieved net earnings of $1,264,376 or $0.04 per share. According to the company, this was supported by $1,561,514 in net investment earnings, including $3,971,104 of realized gains, partially offset by unrealized losses and expenses.

What is Elysee Development’s NAV per share as of June 30, 2026 (ASXSF)?

Elysee’s net asset value (NAV) was $0.78 per share on June 30, 2026. According to the company, this compares with $0.76 at December 31, 2025 and $0.42 at December 31, 2024, reflecting portfolio gains and changes in assets, liabilities, and share count.

How much cash did Elysee Development (ASXSF) have at June 30 and August 7, 2026?

Elysee reported cash of $4,774,853 at June 30, 2026 and about $3.9 million at August 7, 2026. According to the company, the later decrease reflects deploying cash into select equity investments to take advantage of perceived oversold market conditions.

What drove Elysee Development’s investment earnings in the first half of 2026 (ASXSF)?

First-half 2026 net investment earnings were $1,561,514, mainly from realized gains on securities. According to the company, this included $3,971,104 of realized gains, $150,680 of interest and dividend income, and an unrealized foreign exchange gain, partly offset by unrealized losses and G&A expenses.

What new investments did Elysee Development (ASXSF) make in Q2 2026?

In Q2 2026, Elysee made a $225,000 pre-IPO investment in Probe Metals and a US$325,000 pre-IPO investment in Greyridge Exploration. According to the company, proceeds from completed takeovers were used to strengthen existing positions and fund these new private exploration investments.

Did Elysee Development (ASXSF) repurchase shares during Q2 2026?

Yes, Elysee repurchased 86,000 common shares during Q2 2026 under its Normal Course Issuer Bid. According to the company, there were 28,194,189 shares outstanding at June 30, 2026, reflecting the impact of these buybacks on the share count.