Mayfair Gold Reports Wider Losses, C$25.6M Liquidity

Mayfair Gold reported a third-quarter net loss of C$8.2 million, compared with C$2.24 million a year earlier, while its nine-month loss widened to C$22.87 million from C$6.17 million. Cash and cash equivalents were C$15.6 million at Sept. 30, and the company said it had pro forma liquidity of about C$25.6 million after receiving C$10 million in gross proceeds from Macquarie Bank’s strategic investment after quarter-end. Mayfair also cited a nonbinding term sheet for up to C$300 million in project financing, with a potential C$25 million early drawdown once the arrangement becomes binding, as it advances its Fenn-Gib project.