Shares reacted positively, rising 4.2%, driven by strong operational execution at Florida Canyon including record throughput, a significant increase in gold production, and an enhanced life of mine plan signaling longer mine life and higher production.
- Florida Canyon achieved record throughput of 87.9 thousand tons per day, leading to a 30% quarterly increase in gold production to 16.4 thousand ounces.
- The updated technical report extended mine life by 3 years to 8 years plus 2 years residual leaching, with proven and probable reserves growing 74% to nearly 1.2 million ounces.
- Annual gold production guidance remains at 70,000 to 75,000 ounces for the year, reflecting confidence in sustaining elevated production levels.
- Q2 All-In Sustaining Costs (AISC) came in at $3.37 thousand per ounce sold, at the lower end of guidance despite inflationary pressures on royalties, diesel, and explosives.
- Strategic capital investments totaling $13.5 million in sustaining capex focused on fleet modernization, capital stripping, and site maintenance aim to support long-term operational stability and growth.
Community Discussion