Gold Reserve Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	122.5	68.93	42.82	8.53	15.38	49.12
Short-Term Investments	17.12	7.4	34.17	29.36	27.5	-
Trading Asset Securities	-	1.7	1.42	1.18	0.1	0.11
Cash & Short-Term Investments	139.62	78.03	78.42	39.07	42.98	49.22
Cash Growth	85.28%	-0.50%	100.74%	-9.10%	-12.69%	-14.39%
Other Receivables	-	-	-	-	8.09	8.68
Receivables	-	-	-	-	8.09	8.68
Prepaid Expenses	0.78	0.24	0.26	0.29	0.46	0.51
Total Current Assets	140.4	78.27	78.68	39.36	51.53	58.41
Property, Plant & Equipment	0.52	0.56	0.36	0.38	1.42	2.23
Total Assets	140.92	78.83	79.04	39.74	52.94	60.64
Accounts Payable	5.15	6.97	2.32	0.71	0.65	0.47
Accrued Expenses	-	-	1	0.74	0.53	-
Current Portion of Leases	0.16	0.17	-	-	-	0.08
Current Income Taxes Payable	11.88	11.62	10.62	9.71	-	-
Other Current Liabilities	-	-	-	-	0.17	0.06
Total Current Liabilities	17.18	18.75	13.94	11.16	1.35	0.61
Long-Term Leases	-	0.01	-	-	-	-
Total Liabilities	17.18	18.77	13.94	11.16	1.35	0.61
Common Stock	1.48	1.23	1.13	302.68	302.68	302.68
Additional Paid-In Capital	472.51	401	372.35	20.63	20.63	20.63
Retained Earnings	-378.49	-367.86	-333.58	-318.39	-295.27	-286.68
Comprehensive Income & Other	28.23	25.69	25.2	23.66	23.56	23.4
Shareholders' Equity	123.74	60.06	65.1	28.58	51.59	60.03
Total Liabilities & Equity	140.92	78.83	79.04	39.74	52.94	60.64
Total Debt	0.16	0.18	-	-	-	0.08
Net Cash (Debt)	139.47	77.85	78.42	39.07	42.98	49.15
Net Cash Growth	85.07%	-0.73%	100.74%	-9.10%	-12.55%	-14.27%
Net Cash Per Share	1.14	0.66	0.74	0.39	0.43	0.49
Filing Date Shares Outstanding	147.72	147.72	113.04	99.67	99.55	99.55
Total Common Shares Outstanding	147.72	122.71	113.04	99.55	99.55	99.55
Working Capital	123.22	59.51	64.73	28.19	50.18	57.8
Book Value Per Share	0.84	0.49	0.58	0.29	0.52	0.60
Tangible Book Value	123.74	60.06	65.1	28.58	51.59	60.03
Tangible Book Value Per Share	0.84	0.49	0.58	0.29	0.52	0.60
Machinery	-	0.03	0.33	0.75	1.72	2.35
Leasehold Improvements	-	-	0.03	0.03	0.03	0.03

Source: S&P Global Market Intelligence. Standard template. Financial Sources.