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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Steppe Gold
Steppe Gold (STGO) investor relations material
Steppe Gold Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary14 Aug, 2026
Executive summary
Produced 22,465 ounces of gold and sold 13,724 ounces in Q2 2026, up from 13,000 ounces produced in Q2 2025.
Revenue rose to $61,848 in Q2 2026 from $32,327 in Q2 2025, driven by higher realized gold prices.
Net loss attributable to shareholders was $175 in Q2 2026, compared to a net profit of $8,998 in Q2 2025.
Adjusted EBITDA increased to $46,626 in Q2 2026 from $18,074 in Q2 2025.
Completed settlement with Triple Flag, resolving all outstanding stream and loan disputes.
Financial highlights
Average realized gold price was $4,493/oz in Q2 2026, up from $2,142/oz in Q2 2025.
Cost of sales was $18,139 in Q2 2026, up from $16,315 in Q2 2025.
Cash cost per ounce sold was $1,164 and AISC was $1,716 in Q2 2026, both higher year-over-year.
Cash position at June 30, 2026 was $19,889, with working capital of $86,490.
Outlook and guidance
Maintains 2026 production guidance of approximately 68,000 ounces of gold.
Revised feasibility study for ATO Phase 2 expected in H2 2026.
Further advancement of ATO Phase 2 subject to feasibility, financing, permitting, and risk assessment.
Capital commitments will be closely managed to preserve liquidity.
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Latest events from Steppe Gold
- Q2 revenue reached $10.4M, with Boroo Gold acquisition set to boost future cash flow.STGO
Q2 2024 - Q3 2024 delivered strong revenue and earnings, supported by Boroo Gold and favorable gold prices.STGOQ3 2024
- Record gold output and strong prices drove revenue growth and improved financial position.STGOQ4 2024
- Q1 2025 delivered strong revenue, low costs, and a positive outlook for gold production and cash flow.STGOQ1 2025
- Q2 2025 delivered robust revenue and cash flow, with future gold sales at spot prices post-contract.STGOQ2 2025
- Strong Q3 revenue and cash flow, with Boroo mine and gold prices driving performance.STGOQ3 2025
- Revenue rose 43% to $254.1M as net profit fell amid non-cash charges.STGOQ4 2025
- Revenue and EBITDA surged on higher gold prices, despite lower gold production and sales.STGOQ1 2026
Next Steppe Gold earnings date
Q3 202620 Nov, 2026
Steppe Gold
Next Steppe Gold earnings date
Q3 202620 Nov, 2026
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