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Tolu Minerals (TOK) investor relations material
Tolu Minerals Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Significant progress at Tolukuma Gold Mine with infrastructure upgrades, exploration, and cost reduction initiatives underway to support the Destination 2026 plan.
Modular gravity plant commissioned in April 2025, supporting operational ramp-up and initial gold production.
Major exploration program launched, including 30,000m of diamond drilling and regional geochemical surveys.
Access road construction nearing completion, reducing logistics costs and improving site accessibility.
No medical treatment or lost time injuries recorded during the quarter; strong focus on safety and community engagement.
Financial highlights
Exploration and evaluation expenditure for the quarter was $6.8 million, including roadway construction.
Net cash used in operating activities for the quarter was $3.05 million; investing activities used $7.19 million.
$27.25 million raised from equity issuance during the quarter, with $26.12 million net cash from financing activities.
Cash and cash equivalents at quarter end totaled $21.56 million, up from $5.73 million in the previous quarter.
Payments to related parties during the quarter totaled $203,000.
Outlook and guidance
Processing capacity to increase from 6t/hr to 20t/hr, targeting a run rate of 145,000 tpa, with further expansion planned for 2027.
Hydropower station refurbishment to deliver 3MW by H2 2026, reducing power costs by ~75%.
Exploration to focus on expanding the Mineral Resource Estimate and advancing Mt. Penck and Ipi River projects.
Drilling capacity to expand to seven rigs by end-2025, aiming for a significant MRE upgrade by Q2 2026.
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