Golconda Gold Ltd. Releases Financial and Operating Results for Q1 2025

Core Viewpoint - Golconda Gold Ltd. reported strong financial and operational results for Q1 2025, highlighting a significant increase in gold production and a reduction in operating cash costs, alongside a favorable gold price environment [4][5]. Financial Performance - The company generated revenue of $6.6 million from the sale of 2,324 payable ounces of gold at a price of $2,830 per ounce, marking a 57% increase in revenue compared to Q4 2024 [9]. - Operating cash costs were reported at $1,369 per payable ounce, a 27% reduction from $1,873 per payable ounce in Q4 2024 [9]. - Total operating cash costs amounted to $3,497,401 for Q1 2025 [8]. Production Metrics - Golconda Gold mined 27,371 tonnes of ore with an average grade of 3.47 grams per tonne, compared to 29,479 tonnes at 3.17 grams per tonne in Q4 2024 [9]. - The company produced 2,281 tonnes of concentrate at an average grade of 40.2 grams per tonne, containing 2,947 ounces of gold, which is a 32% increase in gold production compared to Q4 2024 [9]. Operational Developments - The company is planning to restart the Summit Mine in New Mexico, USA, aiming for the first half of 2026, supported by improved financial conditions and reduced debt [5]. - Golconda Gold's management team consists of experienced professionals in mining and processing operations, emphasizing a commitment to world-class standards and community contributions [6].