Strong Quarter — Revenue, Earnings and Cash Generation
Revenue of nearly $1.2 billion in Q1 2026; GAAP EPS of $0.15 per share and adjusted EPS of $0.19 per share. Operating cash flow of $539 million and free cash flow of $362 million, demonstrating strong cash generation from operations.
Balance Sheet and Liquidity Strengthened
Cash and cash equivalents of $479 million at March 31, 2026, up from $380 million at year-end 2025 (+$99 million, +26.1%). Repaid the remaining $75 million outstanding on the revolving credit facility; full $800 million facility available plus a $200 million accordion feature.
Operational Outperformance
Consolidated production of approximately 238,000 ounces in Q1, with Fekola, Goose, Masbate and Otjikoto all reported as outperforming expectations. Otjikoto successfully managing transition to underground; Masbate maintaining a strong safety record (7.5+ years LTI-free).
Active Capital Allocation and Portfolio Optimization
Share repurchases of ~16 million shares for $80 million in Q1 and a further 4 million shares for $18 million post-quarter (total ~20 million shares for ~$98 million) and management indicates continued opportunistic buybacks. Completed sale of 70% stake in Fingold Ventures to Agnico Eagle for $325 million in cash and entered a collaboration agreement for Nunavut operations.