Norsemont Mining to restate 2025 and Q1 2026 financial statements

Norsemont Mining Inc. has announced plans to restate its consolidated financial statements for the fiscal year ended December 31, 2025, and the first quarter ended March 31, 2026.

The restatement is necessary to correct the classification of certain 2025 convertible debentures and related derivative financial liabilities, which were previously recorded as non-current liabilities but should be classified as current liabilities. Additionally, the company will include note disclosures regarding royalties payable to Minera Altiplano and Minera Choquelimpine for the Choquelimpie Project.

As a result of these changes, current liabilities are expected to increase by approximately $15.17 million for the 2025 year-end and by $22.90 million for the Q1 2026 period. The company stated that it does not expect these reclassifications to impact total liabilities, shareholders' equity, net losses, or cash flows. Investors are advised not to rely on the previously released financial statements for these periods. The restated documents are expected to be filed by August 31, 2026.