Canada · Delayed Price · Currency is CAD Discovery Mining Earnings Call Transcripts
Fiscal Year 2026
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Record gold production and revenue growth in Q2 2026 were driven by operational improvements, the Kidd acquisition, and strong exploration results. Adjusted earnings and EBITDA remained robust, with significant capital investment supporting future growth and a strengthened liquidity position.
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Q1 2026 saw strong revenue and EBITDA growth, driven by higher gold prices and robust production at Hoyle Pond. The acquisition of Kidd operations is set to unlock significant processing capacity, while exploration success and disciplined capital allocation support growth objectives.
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A major North American precious metals producer outlined plans to boost gold output to 500,000–750,000 ounces and silver to 14 million ounces annually within 3–5 years, leveraging recent acquisitions and strong financials. Key project studies and a pivotal permit for Cordero are expected by year-end.
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Major expansion plans include doubling land holdings with the Kidd acquisition, aggressive exploration, and significant capital investment in both Canada and Mexico. Production is set to increase, costs are targeted to decline, and the Cordero project is poised for a final investment decision pending permit approval.
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Plans call for transforming Porcupine into a tier one asset with major production growth, cost reductions, and extensive exploration. Cordero in Mexico is advancing toward permitting and financing, while capital is prioritized for expansion and productivity.
Fiscal Year 2025
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Q4 2025 delivered strong financial and operational results, with revenue up 16% sequentially, adjusted EPS up 75%, and robust cash flow. 2026 guidance calls for higher production, lower costs as the year progresses, and increased exploration, supported by a strong balance sheet.
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Porcupine and Cordero assets offer substantial production growth and exploration upside, with strong financials and ongoing drilling across multiple high-potential targets. Dome and TVZ are prioritized for near-term development, while Cordero’s permitting is advancing. Much of the value remains unrecognized in current valuation.
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Q3 2025 saw robust revenue and earnings growth, with gold production and sales rising sharply, costs improving, and free cash flow tripling sequentially. Exploration advanced across key assets, and liquidity was strengthened with a new credit facility.
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Major gold and silver asset acquisitions in 2026 drive strong operational and financial performance, with significant production growth and multiple value drivers identified. Aggressive exploration, mill expansion, and permitting at Cordero position the company for substantial output increases and valuation upside.
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Q2 2025 saw strong operational and financial results following the Porcupine acquisition, with $28.4M in adjusted net earnings, $67M in operating cash flow, and robust exploration ramp-up. Pamour and other assets are progressing ahead of schedule, with higher production and lower costs expected in H2.
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The company is rapidly expanding gold and silver production, focusing on the Porcupine Complex and Cordero project, with major investments in exploration, mill upgrades, and productivity. Strong cash flow and a disciplined capital strategy support growth, with no near-term equity issuance planned.
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A new North American precious metals producer is emerging with the acquisition of Porcupine assets in Ontario and advancement of the Cordero silver project in Mexico. The company is well-financed, focused on cost control, and poised for significant exploration and production growth, with strong community and governmental support in both regions.