Successful Project Advancements
The third quarter marked solid progress with milestones within the development plan, including the ramp-up of Granite Creek Underground and the commencement of construction at Archimedes as planned.
Improved Gross Profit
Gross profit improved, moving from a loss a year ago to a small profit, with a roughly $24 million increase year-to-date.
Strong Drilling Results
Notable drilling results from the South Pacific Zone at Granite Creek with high-grade intercepts, including 33.6 grams per ton over 2.9 meters.
Increased Gold Sales and Revenue
Gold sales nearly doubled to 9,400 ounces, and total revenue increased to approximately $32 million due to higher ounces sold and a higher average realized gold price of $3,412 per ounce.
Recapitalization Strategy Progress
Secured capital to fund over $90 million in construction activities, drilling, permitting, and technical studies, reinforcing the strength of assets.