Discovery Mining Achieves Record $319M Revenue and 33% Gold Production Increase
Discovery Mining Ltd. reported a record revenue of $319.1 million and a 33% increase in gold production for Q2, driven by higher throughput and the acquisition of Kidd Operations. However, elevated all-in sustaining costs and negative free cash flow pose risks to sustained growth.
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Discovery Mining Ltd. reported Q2 revenue of $319.1 million, a 100% increase year-over-year, alongside gold production of 67,309 ounces, up 33%. EBITDA rose to $170 million, while adjusted net earnings reached $92.3 million.
The acquisition of Kidd Operations on June 1 contributed to this growth, adding copper and zinc production and processing infrastructure. Despite increased throughput, all-in sustaining costs reached $2,154 per ounce, and free cash flow was negative $11.4 million due to heavy investment in capital projects.
The company maintains its 2026 guidance of 260,000 to 300,000 ounces of gold, with expectations for improved production and cost efficiency in the second half. The ongoing integration of Kidd Operations poses risks as management evaluates its impact on future production and costs.
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