FINWIRES · TerminalLIVE
FINWIRES

Golconda Gold Q2 Gold Production Unchanged From Q1, Rises 20% Year Over Year

By

Golconda Gold (GG.V) on Thursday said second-quarter gold production at its Galaxy Gold Mine totaled 3,648 ounces, unchanged from the first quarter and up 20% from a year earlier.

The company said it expects ore tonnes to increase in the second half of 2026 as in late Q2 it took delivery of additional mining equipment, including one drill rig, three loaders and one dump truck.

The company also announced the appointment of High Desert Mining as mining contractor at the Summit Mine in New Mexico. High Desert has been on site since May 25 and underground establishment activities are underway with key mining equipment are mobilised.

"First ore was delivered to surface on July 7, mining faces are readily accessible and we expect to begin to build a stockpile," Golconda Gold CEO Ravi Sood said.

Company's shares closed up C$0.07 to C$2.25 on TSX Venture Exchange.

Related Articles

Mining & Metals

DPM Metals Reports Higher Preliminary Q2 Gold Equivalent Production

DPM Metals (DPM.TO) after trade Wednesday said its gold-equivalent production increased in the second quarter, supported by strong performance at Chelopech and the continued ramp-up of Vares.The company produced 62,000 ounces of gold and 102,000 gold-equivalent ounces (GEOs) in the three months ended June 30. Gold sales totaled 55,000 ounces, while gold equivalent sales reached 87,000 ounces.Vares produced about 35,000 gold GEOs in the second quarter, the company said, adding that it "has continued to make strong progress at Vares, achieving targeted development rates averaging over 400 meters per month and processed 117,000 tonnes in the second quarter, a 48% quarter-on-quarter increase." The company also said Chelopech produced about 56,000 GEOs and Ada Tepe produced roughly 11,000 GEOs in the quarter.These are preliminary production results, DPM said, adding that it plans to release its second quarter operating and financial results after market close on July 30."Our continued return of capital program, which totaled over $49 million of share repurchases during the second quarter, reflect our confidence and excitement for DPM's continued exploration success, including the significant new discovery of the high-grade Brevene South Porphyry we announced in June," Chief Executive David Rae said.

$DPM.TO
Mining & Metals

North American Construction Group Unit Wins Five-Year Oil Sands Contract, Adds C$135 Million to Backlog

$NOA.TO
Mining & Metals

Vermilion Energy to Buy Back Up to 15.16 Million Shares Under NCIB

Vermilion Energy (VET.TO) said Wednesday the Toronto Stock Exchange approved its plan to launch a normal-course issuer bid (NCIB).Under the bid, the company will purchase up to 15.16-million shares, about 10% of its public float as at June 30, over a 12-month period beginning on July 12.The total number of shares Vermilion is permitted to purchase on the Toronto Stock Exchange is subject to a daily purchase limit of 322,467 shares, the company said.The company's shares closed up C$0.61 to C$13.47 on TSX on Wednesday.

$VET.TO