Mundoro Capital Inc., a Vancouver-based mining company, has released an update on its exploration program results and financial performance for the second quarter and six-month period ending June 30, 2026. The company is focusing on generating new property opportunities, particularly in Serbia, while also reducing corporate expenses by 24%. CEO Teo Dechev highlighted the strategic shift towards their Arizona copper assets, with upcoming drill tests planned for the Vitanovac target and advancements in the Borsko drill target in Bulgaria.
The exploration highlights include the completion of drilling at Skorusa East, with assays received for two significant drill holes, 26-SKO-08 and 26-SKO-09. The company has also initiated new hyperspectral core scanning and petrophysical sampling to enhance their geological understanding. Formal drill proposals have been established for three prospective areas: Borsko, Skoursa East, and Skorusa West, with a focus on refining targets and delineating potential porphyry sources.
In terms of financial performance, Mundoro reported a fee income of $251,009 for Q2 2026, a significant increase compared to $120,497 in the same quarter of the previous year. Exploration expenditures rose to $2,513,992, reflecting the company’s commitment to advancing its exploration projects. Corporate expenses decreased to $281,162, contributing to a net loss of $325,340 for the quarter, which is an improvement from the previous year’s loss of $540,377.
Mundoro’s exploration efforts are primarily concentrated in Eastern Serbia, particularly within the Timok Magmatic Complex, known for its copper-gold deposits. The company is also advancing its projects in Arizona, where it has identified several prospective intrusions. The ongoing generative work aims to create long-term royalty opportunities and further property payments through the optioning of mineral projects.
The company remains focused on refining its geological models and establishing formal drill proposals for its various targets, including the Borsko, Trstenik, and South Timok Corridor projects. Despite facing delays in the permitting process for its EE1 Project in Bulgaria, Mundoro is committed to advancing its exploration initiatives and unlocking the potential of its mineral properties.
