Golconda Gold produces 3,588 oz Au in Q3 2025

Executive Summary

• Golconda Gold reported Q3 2025 gold production of 3,588 ounces, an 18% increase versus Q2 2025 and a 51% increase versus Q3 2024.
• The boost stems from an 81% rise in ore mined from the Princeton orebody, driven by the start‑up of mining at the Princeton Top section during the quarter.
• Management highlighted strong cash flow generation, balance‑sheet deleveraging, and plans to refurbish the subvertical shaft for second‑level mining at Galaxy by year‑end 2025.

Key Details

• Q3 2025 Production: 3,588 oz Au (up 18% QoQ, up 51% YoY).
• Ore Mining Increase: Princeton orebody mined volume rose 81% versus Q2 2025 after commencement of mining at the Princeton Top section.
• Cumulative 2025 Production: First three quarters are 74% ahead of the same period in 2024.
• Operational Cash Flow: Higher gold price and increased production delivering “significant operational cash flow.”
• Balance‑Sheet Impact: Ongoing deleveraging of debt highlighted by management.
• Future Expansion: Refurbishment of existing subvertical shaft and related infrastructure to enable second‑level mining at Galaxy orebody, targeted for completion by end‑2025, adding an additional ore source to a processing plant that currently has “significant spare capacity.”

Notable Quotes

“Galaxy achieved record gold production in Q3… With the materially higher gold price, the company is generating significant operational cash flow and continues to deleverage its balance sheet and invest in further expansion at Galaxy…” – Ravi Sood, CEO