Kingsgate Consolidated (KCN) Q2 2026 TU earnings summary

Executive summary

• Finished 2025 as the second-best performer in the ASX All Ordinaries with a 344% share price increase.

• Chatree Gold Mine produced 20,957 oz gold and 157,542 oz silver in the quarter, maintaining over 20,000 oz gold for four consecutive quarters.

• Significant cash build, with total cash, bullion, and doré rising ~56% to A$179 million.

• FY26 production guidance maintained, with 44,879 oz gold and 363,382 oz silver produced in 1HFY26.

• TAFTA arbitration with Thailand terminated, removing a major legal overhang.

Financial highlights

• Available cash and bullion increased by A$61 million to A$158.6 million, the largest quarterly increase recorded.

• Gold sales: 18,559 oz at US$4,167/oz (up 20% QoQ); silver sales: 149,008 oz at US$57.55/oz (up 46% QoQ).

• All-in Sustaining Cost (AISC) for the quarter: US$2,296/oz; AISC (pre-royalties): US$1,328/oz; record AISC margin of US$1,871/oz.

• 1HFY26 AISC (pre-royalties): US$1,234/oz, outperforming full-year guidance.

• Net cash flows from Chatree operations: A$44.6 million; negative working capital adjustment of A$9.9 million due to bullion receivables build.

Outlook and guidance

• FY26 production guidance reaffirmed: 93,000–103,000 gold equivalent oz, AISC (pre-royalties) US$1,550–1,750/oz.

• Guidance based on stable mining contractor efficiencies, consistent processing recoveries, and maintained permits.