Austral Gold (AGD) Q2 2026 TU earnings summary

Executive summary

• Q2 2026 marked operational progress with Guanaco production up 17% quarter-on-quarter and lower unit costs after commissioning additional crushing capacity; Casposo generated new revenue via toll processing and resumed own-material production in July.

• Combined revenue was US$31.8 million, with US$25.9 million from gold and silver sales and US$5.9 million from toll processing; net financial debt reduced to US$1.7 million and cash increased to US$20.3 million.

• An updated Guanaco Technical Report extended mine life to 14 years with an after-tax NPV of US$192.1 million at a 10% discount rate.

Financial highlights

• Guanaco Q2 2026 production: 3,381 GEO, up 17% from Q1 2026; C1 cost US$2,542/oz (down 9.6%), AISC US$2,954/oz (down 2.6%).

• Casposo Q2 2026: 932 GEO from own material (April), 1,651 GEO from toll material (May-June); tolling fee revenue US$5.9 million.

• Combined Q2 2026 revenue: US$31.8 million (Q1 2026: US$34.1 million); gold and silver sales 81% of revenue, toll processing 19%.

• Operating cash flow after working capital: US$0.7 million (down from US$10.4 million in Q1 2026); net financial debt US$1.7 million.

Outlook and guidance

• Guanaco 2026 production guidance: 16,000–20,000 GEO; C1 cost US$2,400–2,700/oz, AISC US$2,600–2,900/oz.

• Casposo 2026 production guidance: 11,000–13,000 GEO, assuming six months each of own and toll material; C1 cost US$2,200–2,400/oz, AISC US$2,400–2,600/oz.

• Exploration and drilling programs advancing in both Chile and Argentina, with results expected in Q3 and Q4 2026.