Austral Gold (AGD) Q3 2026 TU earnings summary

Executive summary

• Q3 production rose 50% QoQ to 6,479 GEOs as Casposo processed its own ore for the full quarter; cash and debt reduction moved the balance sheet to net cash of US$2.5m.

• CY2026 production guidance was cut to 24,000–27,000 GEOs from 27,000–33,000 GEOs, chiefly due to lower Guanaco expectations.

Financial highlights

• Revenue was US$23.4m versus US$32.4m in Q2, which included US$6.5m of toll fees; Q3 comprised US$23.2m from sales and US$0.2m of fixed toll fees.

• Sales of 5,354 GEOs trailed production of 6,479 GEOs due to export timing, primarily at Casposo; bullion and gold-in-process inventory rose US$3.5m.

• Operating cash flow after working-capital changes was US$8.5m, up US$7.8m QoQ, primarily reflecting collection of toll fees outstanding at Q2 end.

• Investing cash outflow was US$3.7m; financing cash outflow was US$5.0m, including US$4.2m of borrowing repayments. Cash declined US$0.2m to US$20.1m.

Outlook and guidance

• CY2026 production guidance was revised to 24,000–27,000 GEOs; Guanaco was lowered to 13,000–14,000 GEOs, while Casposo remained at 11,000–13,000 GEOs.

• Guanaco C1 and AISC guidance remained US$2,400–2,700/GEO and US$2,600–2,900/GEO; full-year costs are expected toward the upper end.

• Casposo C1 and AISC guidance rose to US$2,400–2,600/GEO and US$3,000–3,200/GEO, reflecting higher open-pit mining costs and sustaining waste stripping.

• CY2027 guidance is expected with the December 2026 quarterly report; Q4 Guanaco production is expected to increase against a largely fixed cost base.