Quartz Mountain Resources Ltd. files its Form 20-F annual report for the year ended July 31, 2025, highlighting continued exploration-stage operations with no sales revenue and a loss from operating expenses of $3,560,819 compared with $2,542,646 in 2024.
Exploration and evaluation expenses rose to $2,616,260, driven by drilling at the Maestro and Jake projects in British Columbia, while general and administrative costs increased to $527,817, including legal, regulatory and IT spending. Total assets reached $4,194,982 and working capital was $2,881,768, but shareholder’s equity was a deficit of $3,910,539 and the accumulated deficit was $35,546,915, leading management to flag material uncertainty about the Company’s ability to continue as a going concern without additional financing.
The Company reports drilling success, including discovery of a new copper‑gold‑silver porphyry system at the Jake Property and a substantial new gold‑silver system at the Prodigy zone on the Maestro Property, and it holds 69,648,030 common shares outstanding as of July 31, 2025.