Unfortunately, the results fell short of expectations. As is often the case, analysts are no longer satisfied with triple-digit growth.
I think the results are good and I’m staying invested.
Financials
Record cash and cash equivalents totaling $349.4 million, including a record net cash position of $310.0 million.
Quarterly revenue was $205.2 million, an increase of 113% compared to the second quarter of 2025.
Quarterly net income was $84.6 million, or $0.34 per share, an increase of 116% compared to the second quarter of 2025.
Operating cash flow (before working capital adjustments) for the three months ended June 30, 2026, was $105.1 million, or $0.43 per share, and earnings before interest, taxes, depreciation, and amortization (“EBITDA”) ² was $140.7 million, or $0.57 per share, representing an increase of 124% and 136%, respectively, compared to the second quarter of 2025.
Sales volume totaled 46,682 ounces of gold, 1,811,181 pounds of copper, and 49,004 ounces of silver. As of June 30, 2026, the inventory of gold concentrate and doré stood at 9,925 ounces, a decrease of 2,393 ounces from the previous quarter.
Looking ahead, several key expansion projects remain on schedule and will be completed this quarter.
In the area of exploration, we are continuing to advance the pursuit of our priority targets
