PDI Gold (PDI) Q1 2027 TU earnings summary

Executive summary

• Gold poured was 52,865oz and sales were 66,928oz; revenue reached US$282.9M, with Kiniero offsetting lower Nampala output.

• Cash and bullion totaled US$404.6M at quarter-end; 2026 production and AISC guidance remained unchanged.

• Bankan engineering and procurement advanced, with construction to be funded from cash reserves and operating cash flows; targeted production exceeds 400kozpa by 2029.

Financial highlights

• Revenue rose 30% QoQ to US$282.9M as sales volumes increased 37% to 66,928oz, more than offsetting the 5% decline in realized price to US$4,227/oz.

• Cash margin from operations was US$176M and free cash flow was US$128M; capital expenditure totaled US$43M.

• Gold poured fell 17% QoQ to 52,865oz; YTD CY26 production was 165,068oz and sales were 157,652oz.

Outlook and guidance

• 2026 gold-poured guidance remained 198–220koz: Kiniero 157–174koz and Nampala 41–46koz; Group AISC guidance remained US$1,300–1,500/oz.

• Kiniero continued to perform ahead of expectations; initiatives are underway to lift Nampala production toward its original guidance range.

• Bankan detailed engineering was ~20% complete and targeted for completion in Q2 2027; mill deliveries were expected from December 2026 and power station delivery in Q2 2027.

• Bankan is expected to produce ~250koz annually for more than 12 years; the longer-term target is production exceeding 400koz annually by 2029.