Lexington Gold annual loss narrows in year of ‘steady’ progress

Lexington Gold Ltd on Monday reported a loss in 2025 despite what it called a year of ‘steady’ operational, technical and corporate progress.

The gold explorer, with assets in the US and South Africa said its pretax loss narrowed to $804,000 in 2025 from $1.4 million the year prior. The prior year included a $792,000 impairment charge against Project Argo compared to nil in 2024.

Operating expenses edged up to $950,000 from $881,000. Basic and diluted losses per share were 0.13 US cents compared to 15 cents.

Net cash declined to $300,000 at the year-end from $900,000.

‘2025 was a year of steady operational, technical and corporate progress for Lexington Gold,’ the firm said in a statement.

‘During the year, we progressed key technical studies, expanded and strengthened our South African licence position, completed a further drilling programme at Jennings-Pioneer in the United States, received encouraging assay results and continued to build the company’s capital markets profile,’ it added.

Shares in the firm fell 9.5% to 2.94 pence each in London on Monday.

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