29Metals Reports Stable Revenue in Q2 2026 Despite Rising Costs
29Metals Limited's gross revenue for Q2 2026 was AUD 164 million, nearly unchanged from AUD 165 million in Q1. Increased gold and silver production at Golden Grove offset rising unit costs, while available cash remains strong at AUD 202 million, ensuring development financing capabilities.
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In Q2 2026, 29Metals Limited reported gross revenue of AUD 164 million, stable compared to AUD 165 million in Q1. The company produced 4,700 ounces of gold and 195,000 ounces of silver, significantly up from 1,100 and 104,000 ounces, respectively, aided by resource integration.
Cash reserves stood at AUD 202 million, providing flexibility for ongoing development. Challenges include the need for approval of a new long-term tailings storage facility, critical for the Capricorn Copper restart, which is still awaiting regulatory clearance. 29Metals is targeting an annual copper equivalent production of 80,000 tonnes, with ongoing investments in high-grade mineral bodies. Market response indicates persistent concerns over cost pressures and the development timeline.
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