Golconda Gold Ltd. Releases Financial and Operating Results for Q2 2025

Executive Summary

• Golconda Gold reported Q2 2025 revenue of $7.7 M and operating cash flow of $2.8 M, up from Q1 2025.
• Ore mined increased 15% to 31,481 t at 3.67 g/t Au; gold production rose to 3,030 oz payable (up 3%).
• The company repaid $850 k of short‑term debt, advanced new mining area Princeton Top, and outlined future work at Galaxy lower levels and a planned Summit Mine restart in Q2 2026.

Key Details

• Ore mined: 31,481 t (Q2) vs 27,371 t (Q1); average grade 3.67 g/t Au.
• Concentrate produced: 2,480 t at 38.0 g/t Au containing 3,030 oz gold (up from 2,281 t, 40.2 g/t, 2,947 oz in Q1).
• Revenue: $7.7 M from sale of 2,452 payable oz at $3,254/oz.
• Operating cash cost: $1,436 per payable oz (vs $1,369 in Q1).
• Cash flow from operations: $2.8 M (Q2) vs $2.4 M (Q1).
• Debt repayment: $850 k of short‑term loans repaid; Ocean Partners prepayment facility fully repaid post‑quarter.
• New mining area: Princeton Top delivered 2,828 t ore to plant in second half of quarter.
• Future development: Refurbishment of sub‑vertical shaft at Galaxy for lower‑level mining; first ore expected early Q4 2025.
• Summit Mine (NM, USA): Workstreams initiated, renewal applications filed, site visits conducted; restart targeted for Q2 2026.

Notable Quotes

“Q2 2025 continued our upward trend in ore mined and gold produced which, along with record high gold prices, generated $3.3 million of operating cash flow… This enabled us to continue investing at Galaxy… Princeton Top started delivering ore… first ore planned to be hoisted in early Q4 2025.” – Ravi Sood, CEO

Materiality Assessment: Material – Positive (significant quarterly financial and operational improvements).