Kuya Silver (KUYA) Q2 2026 earnings summary

Executive summary

• Achieved significant progress advancing Bethania Mine toward phase one production, with record mining and processing volumes in Q2 2026.

• Revenue for the first six months ended June 30, 2026, rose to $2.7 million, up from $1.3 million year-over-year, driven by increased silver production and higher prices.

• Net loss widened to $2.8 million for the six months ended June 30, 2026, compared to $1.35 million in the same period of 2025, reflecting higher activity and administrative expenses.

• Maintained strong financial capacity, ending the quarter with $25.5 million in cash, supporting simultaneous development and exploration initiatives.

• Expanded exploration at Silver Kings project, reporting promising preliminary silver and cobalt grades from historical tailings and stockpiles.

Financial highlights

• Q2 2026 revenue reached $1.25 million; H1 2026 revenue exceeded $2.7 million, more than double H1 2025.

• Net loss for H1 2026 was $2.8 million, up from $1.35 million in the prior year, reflecting increased development and organizational expansion.

• Exploration and evaluation expenditures were $1.0 million for the first half of 2026, down from $1.3 million in 2025.

• Total assets increased to $52.6 million as of June 30, 2026, from $36.1 million at year-end 2025.

• Production at Bethania increased 66% quarter-over-quarter, with 5,097 tons mined and 23,912 ounces of silver processed.

Outlook and guidance

• Targeting steady-state production of 350 tons per day at Bethania by year-end 2026, with a major ramp-up expected in Q4.

• Contractor onboarding at Bethania mine is expected to accelerate mine development and drilling productivity in Q3 2026 and into 2027.

• Exploration and evaluation spending to increase in H2 2026 as expanded drilling begins.

• Additional resources are being allocated to unlock mineralized material for mining later in 2026 and into 2027.

• Key milestones for H2 2026 include ramp development progress and initial exploration results, which are expected to solidify the mine model and add future ounces.