Botnia Gold (BOTX) Q3 2026 earnings summary

Executive summary

• Q3 gold production was 38.8 kg; full-year 2026 production was forecast at ~256 kg, with final gold and silver reconciliation pending.

• 9M revenue rose to KSEK 247,981 from KSEK 126,397; operating profit was KSEK 39,481 and net income KSEK 30,531.

• Fäbodtjärn’s production plan was extended by ~9 months to early Q2 2029; further drilling is planned in Q4.

• A surface fire on Oct. 10 temporarily reduced production capacity; full capacity was restored by Oct. 23.

Financial highlights

• Q3 revenue was KSEK 46,026, including a negative KSEK 5,687 price adjustment on a Q1 delivery; total income was KSEK 46,748.

• Q3 operating result was KSEK -6,760 versus KSEK -14,328 in Q3 2025; net loss was KSEK 5,501, largely reflecting campaign and delivery timing.

• 9M revenue was KSEK 247,981 versus KSEK 126,397; operating profit was KSEK 39,481 versus KSEK 17,439 and net income KSEK 30,531 versus KSEK 12,864.

• Q3 costs were elevated by production, repairs and maintenance, energy prices, and KSEK 1,100 of external staff-housing foundation costs; 9M costs exceeded plan, particularly maintenance and processing.

• Q3 operating cash flow was KSEK 44,927; cash increased KSEK 38,861, supported by payment for the June processing campaign received July 7.

Outlook and guidance

• Full-year 2026 gold production was forecast at ~256 kg; sorted and unsorted ore production was expected to reach ~37,000 tonnes.

• The final 2026 processing campaign was complete; mine development and preparation continue through year-end, with 4,000–4,500 tonnes of sorted ore expected from stoping.

• Fäbodtjärn production is planned to continue to early Q2 2029; updated resource and reserve estimates are targeted for the Q4 report in February 2027.

• Further Fäbodtjärn drilling is planned in Q4; Vargbäcken drilling and technical studies are planned over winter, with a feasibility study due to begin after year-end.

• Management expected sufficient liquidity for at least the next fiscal year and positive cash flow from Fäbodtjärn operations.