08:38 AM EDT, 08/26/2025 (MT Newswires) -- Mayfair Gold ( MFGCF ) after the close of trading on Monday reported a narrower loss in the second quarter.

For the three-months ended June 30, the loss and comprehensive loss fell to $2.1 million or $0.02 loss per basic and diluted share, compared with $5.7 million or $0.06 per share, a year earlier.

"In Q2 2025, Mayfair announced the results of a comprehensive metallurgical testing program, which demonstrated gold recoveries of 88.4% for material grading 1.5 g/t gold or higher and recovery of 82.5% for material grading 0.8 g/t gold or higher," said Mayfair Gold ( MFGCF ) Chief Executive Nicholas Campbell. "This also further supports the proposed advancement of Fenn-Gib by focusing on the development of a smaller scale, higher grade operation with higher associated recoveries to begin operations."

"For the second half of 2025, Mayfair continues to advance site investigation work, engineering, and permitting preparation with the intention of moving directly into detailed engineering of the Project and commencement of formal permitting activities at the start of 2026," said Campbell.

Shares of the company closed up 1.2% to $1.67 on Monday on the TSX Venture Exchange.