Canada · Delayed Price · Currency is CAD Artemis Gold Earnings Call Transcripts
Fiscal Year 2026
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Record Q2 results with CAD 433.6M revenue, CAD 200M net income, and CAD 208M cash flow. Phase 1A and EP2 expansions are on track, supporting a progressive dividend policy and strong liquidity. Inflation and gold price risks are managed through hedging and cost controls.
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Record mining rates and strong grades at Blackwater drove solid Q1 results, with net revenue of CAD 315 million and adjusted net income of CAD 130 million. Growth projects are on track, and a new dividend policy reflects confidence in future cash flows.
Fiscal Year 2025
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Announced a progressive dividend policy and strong Q4 results, with record gold production, industry-leading margins, and robust liquidity. Growth projects are on track, targeting over 500,000 ounces annual production by 2029, supported by disciplined capital allocation and risk management.
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A CAD 1.4 billion investment will expand Blackwater Mine's throughput to 21 million tonnes per annum by 2028, supporting over 500,000 ounces of annual gold production and industry-leading margins. The project is fully funded from cash flow, with significant upside from resource expansion, cost optimization, and future growth potential.
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Strong first full quarter of operations delivered 60,985 oz gold at industry-leading margins, with revenue of CAD 308M and robust cash flow. Guidance was revised for higher costs, but production targets remain, and major expansions are progressing on schedule.
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Commercial production at Blackwater Mine drove Q2 revenue over $230M and net income of $100M, with industry-leading low costs and strong cash flow. A $700M revolving credit facility enhances financial flexibility, and 2025 guidance is reaffirmed.