Star Diamond Q1 Net Loss Widens
Star Diamond (DIAM.TO) reported a widened net loss in the first quarter, over the weekend.For the three months ended March 31, 2026, the company reported a net loss of $1.2 million or breakeven per share compared with net loss of about $966,000 or breakeven per share, a year earlier.The company has not reported revenue for the quarter or any quarters since Q1 of 2025.On March 31, the company had about $195,000 in cash and cash equivalents and a working capital of about $19,000. The decrease in working capital was a result of net cash used in operating activities, it said.Star Diamond has prepared a budget for the completion of the pre-feasibility study of $3 million which is subject to the completion of a financing."However, the ability of the company to continue as a going concern and fund its expenses in an orderly manner will require additional forms of financing," said Star Diamond in a statement. "There can be no assurance that the Company will succeed in obtaining additional financing, now or in the future. Failure to raise additional financing on a timely basis could cause the Company to suspend its operations and planned activities."The company's shares last traded May 7, closing at $0.03 on the Toronto Stock Exchange.
