Golconda Gold Ltd. Releases Q2 2025 Production Update

Core Viewpoint - Golconda Gold Ltd. reported a significant increase in gold production for Q2 2025, achieving 3,030 ounces, which represents a 3% increase from Q1 2025 and a 90% increase compared to Q2 2024 [1]. Production Summary - Q2 2025 production details include: - Total ore mined: 31,481 tons, up from 27,371 tons in Q1 2025 and 16,623 tons in Q2 2024 - Average ore grade: 3.67 g/t, compared to 3.47 g/t in Q1 2025 and 3.03 g/t in Q2 2024 - Total waste: 17,894 tons, an increase from 13,811 tons in Q1 2025 and 14,707 tons in Q2 2024 [1]. - Processing metrics for Q2 2025: - Concentrate produced: 2,480 tons, up from 2,281 tons in Q1 2025 and 1,514 tons in Q2 2024 - Concentrate grade: 38.0 g/t, down from 40.2 g/t in Q1 2025 but up from 32.7 g/t in Q2 2024 - Gold produced: 3,030 ounces, compared to 2,947 ounces in Q1 2025 and 1,591 ounces in Q2 2024 [1]. Operational Developments - The company commenced mining at Princeton Top, adding a third working area to the Galaxy mine, which is expected to enhance production and operational flexibility [1]. - Additional mining equipment was commissioned, leading to a record development advancement of 258 meters, which is a 69% increase over Q1 2025 and a 269% increase over Q2 2024 [1]. Financial Outlook - The positive trend in gold production, coupled with a record realized gold price in Q2, is generating significant cash flow, enabling continued investment in the Galaxy mine and debt repayment [1].