The stock rose 5.6% as investors responded positively to stable production metrics, solid cost control, and a clear path to unlocking higher-grade ore, underpinning confidence in the company’s ability to deliver on its 2026 guidance.
- Q2 gold production totaled 34,400 ounces, with first half output just over 69,000 ounces, near the top of the targeted range (60,000–70,000 ounces).
- All-in sustaining costs were contained at $2,473 per ounce for the quarter, consistent with first half levels and within guidance.
- Mining tonnage increased 15% sequentially, with ore grade steady at 0.9 g/t, supporting expected second half volume growth as higher grades are accessed at Abore.
- Investment in pre-stripping at Nkran Cut 3 ramped up by 30%, with $22.1 million deployed in Q2, advancing development towards higher-grade mining phases.
- Operating cash flow remained robust at $31.9 million (excluding $26 million of restricted cash tied to a dispute), preserving a healthy liquidity position without debt.
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