Borealis reports revenue as it starts mining in Nevada - Elko Daily Free Press

AI desk brief

Borealis Mining reported $12.65 million in revenue and a $4.74 million net loss for the fiscal year ended July 31, 2026, as its Nevada mine transitioned from historical stockpile processing to active open-pit mining and commercial production. Annual gold sales totaled 2,847 ounces, including 877 ounces in the fourth quarter. The company reiterated gold-production guidance of 15,250–19,250 ounces for the fiscal year ending July 31, 2027, with management prioritizing more consistent production and inventory conversion into sales. Delivery would improve company operating performance; the article does not establish a material near-term bullion-price effect.