Headwater Exploration Balance Sheet

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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	87.66	99.66	142.69	146.05	175.45	114.7
Cash & Short-Term Investments	87.66	99.66	142.69	146.05	175.45	114.7
Cash Growth	-30.10%	-30.16%	-2.30%	-16.75%	52.96%	49.41%
Accounts Receivable	66.53	53	58.62	46.74	43.14	30.6
Other Receivables	-	-	-	1.77	1.1	-
Inventory	1.08	1.08	1.19	0.79	1.24	0.81
Other Current Assets	7.42	4.31	5.14	5.57	1.76	1.61
Total Current Assets	162.68	158.04	207.65	200.92	221.59	147.72
Net Property, Plant & Equipment	877.03	790.75	712.02	616.38	468.04	311.76
Other Long-Term Assets	57.95	46.37	32.97	19.04	44	29.33
Total Assets	1,098	995.17	952.64	836.34	734.74	488.81
Accounts Payable	94.7	65.7	70.85	73.72	71.4	52.97
Current Portion of Leases	1	0.96	0.63	0.03	0.63	0.86
Other Current Liabilities	56.78	61.44	57.44	48.57	40.13	4.12
Total Current Liabilities	152.48	128.09	128.91	122.31	112.16	57.95
Long-Term Leases	0.78	1.33	2.09	0.81	0.24	0.7
Other Long-Term Liabilities	129.95	117.6	122.17	102.72	79.01	32.38
Total Long-Term Liabilities	130.72	118.92	124.26	103.52	79.25	33.07
Total Liabilities	283.21	247.01	253.18	225.84	191.41	91.02
Common Stock	487.38	487.38	486.98	483.01	479.16	469.52
Additional Paid-in Capital	10.79	10.79	10.97	18.97	17.31	20.12
Retained Earnings	316.28	249.99	201.51	108.52	46.86	-91.85
Shareholders' Equity	814.45	748.16	699.46	610.5	543.34	397.79
Total Liabilities & Equity	1,098	995.17	952.64	836.34	734.74	488.81
Total Debt	1.78	2.28	2.72	0.84	0.86	1.55
Net Cash (Debt)	85.88	97.37	139.97	145.21	174.59	113.15
Net Cash Growth	-30.17%	-30.44%	-3.61%	-16.83%	54.29%	47.96%
Net Cash Per Share	0.36	0.41	0.59	0.61	0.76	0.52
Book Value	814.45	748.16	699.46	610.5	543.34	397.79
Book Value Per Share	3.39	3.12	2.96	2.57	2.35	1.84
Tangible Book Value	814.45	748.16	699.46	610.5	543.34	397.79
Tangible Book Value Per Share	3.39	3.12	2.96	2.57	2.35	1.84