Golconda Gold Ltd. Releases Financial and Operating Results for Q3 2025

Core Viewpoint - Golconda Gold Ltd. reported strong financial and operational results for Q3 2025, highlighting significant increases in gold production and cash generation, alongside ongoing investments in production ramp-up and debt repayment [4][9]. Financial Performance - In Q3 2025, Golconda Gold generated revenue of $9.0 million from the sale of 2,747 payable ounces of gold at an average price of $3,385 per ounce, compared to $7.7 million in Q2 2025 [9]. - The operating cash cost per payable ounce was $1,530 in Q3 2025, up from $1,436 in Q2 2025 [9][10]. - Total operating cash costs for Q3 2025 were $4,798,834, with year-to-date costs reaching $12,087,019 [8][10]. Production Highlights - The company achieved record quarterly gold production in Q3 2025, with an 18% increase compared to Q2 2025 and a 51% increase compared to Q3 2024 [4]. - A total of 40,503 tonnes of ore were mined at an average grade of 3.31 g/t, marking a 29% increase in ore mined compared to Q2 2025 [9]. - Gold production for Q3 2025 included 3,588 ounces of contained gold, with 2,823 ounces being payable [10]. Operational Developments - Significant progress was made on the refurbishment of the sub-vertical shaft and the 26 level of Galaxy, with the first ore blast occurring post-quarter end, expected to add an additional ore source in Q4 2025 [4]. - The company is targeting a restart of the Summit Mine in New Mexico in Q2 2026, which is anticipated to enhance production with a significant silver component [5]. Shareholder Actions - Following Q3 2025, the company cancelled 438,671 common shares held as security in full satisfaction of loans to certain former executive officers [5].