Vanguard Mining Cash Flow Statement

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2016
Period Ending	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	2020 - 2016
Net Income	-3.46	-5.97	-9.96	-6.4	-1.79	Upgrade
Depreciation & Amortization	-	5.07	-	0.13	-	Upgrade
Loss (Gain) From Sale of Investments	0.12	0.01	-	-	-	Upgrade
Stock-Based Compensation	1.27	0.05	3.55	3.24	0.01	Upgrade
Other Operating Activities	-0.32	-0.05	-0.19	-0.1	-	Upgrade
Change in Accounts Payable	0.06	0.25	-0.05	0.47	-0.19	Upgrade
Change in Other Net Operating Assets	-0.35	0.36	0.87	-1.18	-0.06	Upgrade
Operating Cash Flow	-2.67	-0.28	-5.77	-3.85	-2.04	Upgrade
Capital Expenditures	-0.37	-0.18	-1.92	-1.83	-0.4	Upgrade
Cash Acquisitions	-0.21	-	-	-	0.14	Upgrade
Investment in Securities	0.04	-	-	-	-	Upgrade
Other Investing Activities	0.05	-	-	-0.01	-	Upgrade
Investing Cash Flow	-0.5	-0.18	-1.92	-1.84	-0.26	Upgrade
Short-Term Debt Issued	-	0.09	0.59	0.1	-	Upgrade
Total Debt Issued	-	0.09	0.59	0.1	-	Upgrade
Short-Term Debt Repaid	-	-	-	-0.1	-0.23	Upgrade
Total Debt Repaid	-	-	-	-0.1	-0.23	Upgrade
Net Debt Issued (Repaid)	-	0.09	0.59	-	-0.23	Upgrade
Issuance of Common Stock	2.52	-	4.39	4.49	2.85	Upgrade
Other Financing Activities	0.87	-	0.81	2.09	1.07	Upgrade
Financing Cash Flow	3.39	0.09	5.78	6.58	3.69	Upgrade
Net Cash Flow	0.22	-0.36	-1.92	0.89	1.39	Upgrade
Free Cash Flow	-3.04	-0.45	-7.69	-5.68	-2.44	Upgrade
Free Cash Flow Per Share	-0.22	-0.06	-1.47	-3.51	-4.07	Upgrade
Cash Interest Paid	-	-	0.01	0	0.01	Upgrade
Cash Income Tax Paid	0	-	-	-	-	Upgrade
Levered Free Cash Flow	-1.72	1.91	-4.06	-3.24	-1.02	Upgrade
Unlevered Free Cash Flow	-1.71	1.91	-4.05	-3.24	-1.01	Upgrade
Change in Working Capital	-0.28	0.61	0.82	-0.71	-0.25	Upgrade

Source: S&P Capital IQ. Standard template. Financial Sources.