Every 10-Q that Magellan Copper and Gold Corp (MAGE) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow MAGE and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MAGE filings page.
Magellan Copper & Gold Corp., an exploration-stage mining company, reports wider losses and a strained balance sheet for the quarter ended June 30, 2026. The company remains pre-revenue and funds operations through equity, related-party debt and third-party advances.
For the quarter, Magellan recorded a net loss of $238,586, compared with net income of $2,391 a year earlier. For the first six months of 2026, the net loss was $407,539, versus $181,749 in 2025. Operating expenses rose due to higher general and administrative costs and a $25,000 impairment of Ophir Creek Placer Gold mineral rights, which were fully written down. A non‑cash loss on change in derivative liability of $164,915 further increased year‑to‑date other expense.
Financial position is weak: at June 30, 2026, cash was $1,205, total assets were $9,245, current liabilities were $2,505,546, and shareholders’ deficit was $2,496,301. Several convertible notes and other obligations are past due and in default, and a derivative liability tied to a convertible note increased to $264,666. Management discloses accumulated deficits of $22,603,152 and states that these conditions, along with limited access to capital, raise substantial doubt about the company’s ability to continue as a going concern. Disclosure controls and procedures are also deemed ineffective due to material weaknesses in internal control.
Magellan Copper & Gold Corp. reported a Q1 2026 net loss of $168,953, slightly improved from $184,140 a year earlier, as lower derivative losses offset higher general and administrative expenses of $113,041.
Cash was only $504 at March 31, 2026 against a working capital deficit of $2,264,897 and an accumulated deficit of $22,364,566, and management states there is substantial doubt about the company’s ability to continue as a going concern.
During the quarter Magellan paid $25,000 under a letter of intent to acquire the Ophir Creek Placer Gold Mine as part of a total $2,500,000 purchase price, recorded in mineral rights and properties. The company also repurchased 1,415,000 shares from a related party, leaving 25,964,295 common shares outstanding.
Magellan Copper & Gold Corp. reported a third‑quarter net loss of $153,277 and a nine‑month net loss of $335,026. As of September 30, 2025, the company had cash of $388 and a working capital deficit of $2,105,675, and disclosed that these conditions raise substantial doubt about its ability to continue as a going concern. Shares outstanding were 27,379,295 as of November 14, 2025.
Operating expenses fell sharply: general and administrative costs were $31,603 in Q3 (versus $107,170 a year ago) and $136,953 for the nine months (versus $279,351). Other expense rose due to a higher fair value of a derivative liability, producing a $118,452 loss year‑to‑date; the derivative liability was $165,610 at quarter‑end (up from $47,158 at December 31, 2024). Financing included $140,000 of common stock proceeds in March. The company shifted its exploration focus, canceling the Kris earn‑in and entering a new earn‑in on the Cable Mine Project requiring $500,000 of spending over 24 months, with a $100,000 credit applied, leaving $400,000 in remaining allowable expenditures. Management reported material weaknesses in internal controls remained unremediated.