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Production / Operations

Hemlo Mining Corp. Announces First Gold Pour and Updates to its Post-Consolidation Share Capital

By The Northwire Desk — AI Analysis Dec 18, 2025 · 06:30 HMMC · 4.75 Hemlo Mining Corp.
HMMC · Price

Executive Summary

  • Hemlo Mining Corp. completed its first gold pour since acquiring the Hemlo Gold Mine, producing approximately 6,704 ounces of gold.
  • The company corrected previously disclosed share‑capital figures, confirming the final counts of common shares, stock options and restricted share units after the acquisition and consolidation.
  • Holders of $2.5 million unsecured convertible debentures converted them into 833,332 common shares at $3.00 per share, bringing total outstanding common shares to 296,329,968 as of Dec 17, 2025.

Key Details

  • First Gold Pour: ~6,704 oz produced – one of the largest single pours for Hemlo in 2025; plant throughput and metallurgical recoveries remain on plan.
  • Acquisition Background: Hemlo Mining Corp. closed its purchase of the Hemlo Gold Mine from Barrick Mining Corp. on Nov 26, 2025 for ~US$1.1 billion.
  • Share‑Capital Rectification:
  • Actual common shares issued & outstanding after consolidation: 295,496,636 (down 284 from prior disclosure).
  • Stock options granted: 6,592,595 (adjusted down by 236,999).
  • Restricted share units outstanding: 3,089,945 (adjusted up by 236,999).
  • Additional issuances tied to new employee onboarding: 76,180 stock options and 32,990 restricted share units.
  • Convertible Debenture Conversion:
  • $2,500,000 unsecured convertible debentures converted on Dec 10, 2025.
  • Resulted in issuance of 833,332 common shares at $3.00 per share.
  • Total common shares outstanding as of Dec 17, 2025: 296,329,968.
  • Future Outlook: Company will release a full corporate update in early January 2026 with preliminary 2025 production results and further operational initiatives.

Notable Quotes

“The first gold pour under Hemlo Mining Corp. marks a defining milestone for our Company… This pour reflects the strength of our mine, the quality of our people, and the disciplined plan we are now putting into action to stabilize operations, drive performance, and unlock meaningful long‑term value.” – Jason Kosec, President & CEO

Read the original news release →

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