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Linear Minerals Corp (LINMF), a junior exploration company focused on lithium, uranium and rare earth projects in Canada and the U.S., reported an unaudited net loss of $153,196 for the three months ended June 30, 2026, compared with a loss of $536,273 a year earlier. There was no revenue in either period and no exploration and evaluation expenses were incurred in the quarter; costs mainly related to salaries, shareholder communications and general administration.
Cash was $179,292 and current assets $336,912 at June 30, 2026, versus current liabilities of $1,147,569, resulting in a working capital deficiency of $810,657. The company also must incur $150,000 of flow-through qualified expenditures. Management states that these conditions and recurring losses create a material uncertainty that may cast significant doubt on its ability to continue as a going concern and indicates that additional financing will be required.
Exploration and evaluation assets remained at $5,143,314, reflecting a portfolio of lithium and other mineral properties, including the Augustus, Abitibi, Electron, McNeely, Rose East and Rose West projects. On June 4, 2026, Linear Minerals signed a non-binding term sheet for the proposed sale of the Augustus Lithium Project and certain other claims to Consolidated Lithium Metals Inc. for aggregate consideration of approximately $2,750,000, but this transaction is still subject to due diligence, definitive documentation and regulatory approvals and had not been recognized in the accounts.
Linear Minerals Corp. filed an amendment to its annual Form 20-F for the year ended March 31, 2025. The amendment is limited to correcting the Section 906 CEO and CFO certifications, which previously referenced the wrong fiscal year.
The company states that no other changes were made to the original report, and all disclosures continue to speak as of the dates in that filing. Linear Minerals, a British Columbia corporation, had 61,335,286 common shares outstanding as of March 31, 2025.
Linear Minerals Corp. reports unaudited interim results for the nine months ended December 31, 2025, showing a net loss of $1,122,454, improved from a loss of $1,994,625 a year earlier. The company remains a pre‑revenue explorer focused on lithium and uranium projects in Quebec and Ontario, including the Augustus Lithium property and the Lac Marion uranium and rare earth element property.
Cash declined to $473,409 with current liabilities of $750,765, resulting in negative working capital of $72,897. Management states that current assets are not sufficient to finance operations and that additional equity or debt financing will be required, noting material uncertainties that may cast significant doubt on the company’s ability to continue as a going concern. During the period, Linear completed a spin‑out of its Pontax West Lithium property to subsidiary Westlinear Minerals, issued shares under multiple property option agreements and restricted share units, and raised flow‑through equity, bringing shares outstanding to 71,035,286 as of December 31, 2025.