Sinda (SIND) Q3 2026 earnings summary

Executive summary

• Q3 advanced Phase II drilling and Caracol site preparation toward underground access; no revenue was generated while exploration continued.

• Q3 net loss widened to $14.9M from $2.8M year over year, primarily reflecting higher exploration spending, public-company costs and share-based compensation.

• Don Diego drilling supported a possible structural link between Caracol and Agaves, expanding exploration potential across the project.

• The June 2026 resource estimate included 369M inferred and 16M indicated AgEq oz, with Exploration Targets of 452–484M AgEq oz.

Financial highlights

• Q3 2026 exploration expense was $10.1M versus $1.3M year over year; G&A was $6.9M versus $1.4M.

• 9M 2026 net loss was $43.1M versus $7.5M year over year; operating expenses rose to $45.4M from $7.3M.

• Cash and cash equivalents were $305.6M at September 30, 2026, versus $10.8M at December 31, 2025; total equity was $311.5M.

• 9M operating cash use was $33.2M, investing cash use was $0.3M and financing cash provided was $328.3M.

Outlook and guidance

• Available cash was expected to cover working capital and capital expenditures for at least 12 months; later financing will be needed, with availability and terms uncertain.

• Phase 2 drilling continues, with 122,000 meters planned; underground drilling is expected to begin as the decline advances, with ~223,000 meters across 557 planned holes.

• Caracol site preparation was on track for completion in Q4 2026 ahead of decline construction; an updated MRE was targeted by year-end 2026.

• Exploration plans include potential Initial Assessment and Pre-Feasibility Study work under S-K 1300; assay results are expected after receipt, analysis and confirmation.