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Mineros Delivers H1 Record Revenue of $559 Million and Record Adjusted EBITDA of $260 Million on Sales of 122,634 Gold Equivalent Ounces

TSX:MSAMNSAF
  • Mineros S.A. reported record first-half revenue of $558,788 and a record net profit of $132,819 ($0.45 per share) for the six months ended June 30, 2026.
  • H1 Cash Cost was $2,104/oz, tracking within guidance, while H1 AISC was $2,348/oz, falling below the lower end of the guided range.
  • Consolidated gold production reached 118,103 ounces in H1, a 9% increase year-over-year, with Hemco contributing 75,535 ounces and Nechí contributing 42,568 ounces.
  • Silver sales surged 111% to 312,446 ounces in H1, driven by metallurgical optimization at the Hemco processing plant.
  • The Company revised its 2026 consolidated gold production guidance upward to 220,000–240,000 ounces from the previous 213,000–233,000 ounces.
  • As of June 30, 2026, cash equivalents & gold-backed assets totaled $228,770, comprising $41,136 in cash & $187,634 in precious metals inventory & receivables.
  • Hemco Property expansion is on schedule, reaching 2,100 tonnes per day throughput in June, with a goal of 2,500 tonnes per day by December 2026.
  • Porvenir Project received Environmental Certification for its processing plant & tailings storage facility, with final permits expected by end of 2026.
  • Mineros acquired a gold exploration project in Tolima, Colombia, hosting historical resources of 23.35 million ounces indicated & 4.98 million ounces inferred.
  • The Company repurchased 4,083,497 shares for $18,077 in Q2 2026 & expanded its share repurchase program authorization to $175 million in July 2026.
  • An updated Investment Management Policy approved in May 2026 now permits allocation to physical gold bullion, ETFs, producer equities, & precious metals derivatives.
  • Mineros is the principal contributor to a new public secondary school in El Bagre, Colombia, with a total investment of approximately $9.1 million financed via the Works-for-Taxes mechanism.
  • H1 Adjusted EBITDA surged 70% year-over-year to $260,475, supported by strong operational performance & robust gold prices.
  • The Company held 16,128 ounces of gold in ore stockpiles & 1,190 ounces of AuEq in doré format, totaling 17,318 ounces of AuEq valued at $24,430.
  • A loan agreement of $7 million was signed in late July 2026 to strengthen working capital, alongside a repurchase agreement securing $18.5 million net cash proceeds.
  • Dividends of $0.025 per share are payable on July 21, 2026, following an annual dividend approval of $0.10 per share.
  • Health & Safety metrics showed a weighted average LTIFR of 0.61 & TRIFR of 1.41 for the six months ended June 30, 2026.
  • Capital expenditures for H1 totaled $36,783, with growth capital heavily weighted toward the Hemco plant expansion & Porvenir project studies.