PDI Gold (PDI) H2 2026 earnings summary

Executive summary

• Completed merger with Robex Resources on 15 April 2026, transforming into a diversified West African gold producer with producing assets in Guinea and Mali and a major development project at Bankan in Guinea.

• Kiniéro mine achieved commercial production in February 2026, exceeding nameplate throughput and driving strong cash generation; Nampala continued reliable output.

• Bankan project advanced toward construction readiness, with major contracts awarded and no increase to the $463M capital estimate.

• Ended FY26 with $193.7M cash, $81.5M restricted cash, and $90.4M in gold bullion, providing significant liquidity.

• Strategic $10M investment in Awalé Resources post-year-end, funded from cash reserves.

Financial highlights

• FY26 revenue: $202.9M from 45,635 oz gold sales at $4,439/oz average price.

• Gross profit: $26.8M; operating loss: $77.4M, impacted by $36M merger costs and $36.9M non-cash share-based payments.

• Net loss after tax: $63.7M, including a $30.1M gain from embedded derivative revaluation.

• Cash margin from operations: $100.9M; cash balance rose to $193.7M from $26.9M YoY.

• All-in sustaining cost (AISC): $1,408/oz (statutory), with Kiniéro at $1,158/oz and Nampala at $1,843/oz (operational metrics Jan–Jun 2026).

Outlook and guidance

• 2026 calendar year production guidance: 198,000–220,000 oz at AISC of $1,300–1,500/oz.

• Kiniéro guidance: 157,000–174,000 oz at $1,100–1,300/oz AISC; Nampala: 41,000–46,000 oz at $2,000–2,200/oz AISC.

• Bankan expected to produce 250,000 oz/year over 12 years; targeted group production >400,000 oz/year by 2029.