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Gold 3,995.40 −0.9% Silver 51.87 +1.2% Copper 6.27 +0.6% Oil 86.26 +0.3% Palladium 1,040.00 +1.9% TNR 0.410 +36.7% ORCL 0.030 +0.0% ELD 48.30 −4.2% OPW 0.140 −6.7% CDE 21.59 −0.5% AEM 266.44 −1.5% WDO 27.95 −1.3% BEA 0.090 +0.0% GAU 3.44 −3.5% BTO 7.39 −2.1% IMG 25.99 −1.3% BOL 0.055 −8.3% CNT 0.030 +0.0% EXN 0.245 −1.0% MNRG 0.075 +0.0% GSKR 2.79 −2.8% Gold 3,995.40 −0.9% Silver 51.87 +1.2% Copper 6.27 +0.6% Oil 86.26 +0.3% Palladium 1,040.00 +1.9% TNR 0.410 +36.7% ORCL 0.030 +0.0% ELD 48.30 −4.2% OPW 0.140 −6.7% CDE 21.59 −0.5% AEM 266.44 −1.5% WDO 27.95 −1.3% BEA 0.090 +0.0% GAU 3.44 −3.5% BTO 7.39 −2.1% IMG 25.99 −1.3% BOL 0.055 −8.3% CNT 0.030 +0.0% EXN 0.245 −1.0% MNRG 0.075 +0.0% GSKR 2.79 −2.8%
Production / Operations

Mineros releases 2026 production, cost guidance

By The Northwire Desk — AI Analysis Feb 06, 2026 · 15:28 MSA · 6.29 Mineros S.A.
MSA · Price

Executive Summary

  • Mineros S.A. has released its 2026 production and cost guidance, outlining a strategy focused on near-term production growth and strategic expansion.
  • Consolidated gold production for 2026 is guided to increase by 10,000 ounces compared to 2025, targeting 213,000 to 233,000 ounces.
  • The company is allocating significant capital toward Nicaragua expansion, specifically a $23-million project to increase Hemco processing capacity, alongside a $17.3-million exploration budget.

Key Details

  • 2026 Production Guidance:
    • Consolidated Gold Production: 213,000 to 233,000 ounces (an increase of 10,000 ounces vs. 2025 guidance).
    • Hemco Property (Nicaragua): 130,000 to 140,000 ounces.
    • Nechi Property (Colombia): 83,000 to 93,000 ounces.
  • 2026 Cost & Margin Outlook:
    • Panama and Pioneer Operations: AISC range of $2,000 to $2,100 per ounce.
    • Bonanza Mining Partners: AISC margin of 39% to 41%.
    • Nechi Company-Owned Dredges: AISC range of $1,820 to $1,920 per ounce.
    • Nechi Contract Mining Partners: AISC margin of 11% to 14%.
  • Capital Expenditures (Capex):
    • Total growth capital directed primarily toward Nicaragua (approx. 78%).
    • Hemco Expansion: $23-million project to scale processing capacity from 1,800 to 2,500 tonnes per day.
    • Strategic Evaluation: Potential installation of a 1,000-tonne-per-day mill to debottleneck output.
    • Porvenir Project: Final stages of permitting and technical optimization; NI 43-101 update expected late Q1 2026, highlighting an optimized process plant with 2,000 tonnes per day throughput.
  • Exploration Budget ($17.3 million total):
    • Hemco: 95,000 metres of drilling ($11 million), focusing on brownfield targets and the Golden Triangle district.
    • Nechi (Colombia): 13,000 metres of drilling ($4.1 million).
    • La Pepa (Chile): 7,000 metres of drilling ($2.2 million).
  • Upcoming Events:
    • Q4 2025 and Year-End Financial/Operating Results: Wednesday, Feb. 18, 2026.
    • Conference Call: Thursday, Feb. 19, 2026, at 9 a.m. EST.

Notable Quotes

  • "Our 2026 guidance demonstrates a transition in our corporate life cycle... We are moving beyond a steady-state profile by allocating capital to projects with immediate accretive value. We are shifting our focus to creating shareholder value through disciplined growth that strengthens cash flow and enhances long-term returns. This 10,000-ounce increment is the first stage of a broader evolution for the company." — Daniel Henao, President and CEO
Read the original news release →

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Mineros S.A. raised guidance on Hemco strength while keeping costs unchanged and implying a second-half slowdown.

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