Successful Equity Raise
Completed an equity raise in May, strengthening the balance sheet and improving liquidity, with gross proceeds of $186 million through a bought deal offering and private placement.
Gold Production Plans
Average annual gold production is expected to increase from less than 50,000 ounces per year to a target of 150,000 to 200,000 ounces by 2028 and 300,000 to 400,000 ounces by 2030, ultimately reaching over 600,000 ounces by 2032.
Granite Creek Underground Production
Mining volumes during the second quarter were ahead of the prior year period, with approximately 24,000 tons of oxide mineralized material and 11,200 tons of sulfide material mined.
Increased Gold Sales
Gold sales increased to approximately 8,400 ounces for the quarter, with total revenue from gold sales rising to about $28 million.
Strong Cash Position
Ended the quarter with a cash position of approximately $134 million, due in part to the equity raise.