Denarius Metals Corp. reported second-quarter revenue of $4.9 million for the period ended June 30, 2026, supported by an early production ramp-up at the Zancudo Project in Colombia. Total revenue for the first half of 2026 reached $8.4 million, up significantly from $49,000 recorded in the same period of 2025.

During the second quarter of 2026, Denarius Metals delivered 3,907 tonnes of mined material to a local port for sale to Trafigura Pte. Ltd., marking a 67% tonnage increase compared with the first quarter of the year. Head grades averaged 11.3 g/t for gold and 217.1 g/t for silver, yielding shipments containing approximately 1,416 ounces of gold and 27,265 ounces of silver. Total payable production for the first half of 2026 reached 1,516 ounces of gold and 17,143 ounces of silver.

The Zancudo Project includes the historic producing Independencia mine and is located in the Cauca Belt approximately 30 kilometers southwest of Medellin. Operating activities during the quarter generated a gross profit of $1.9 million, bringing the total for the first half of 2026 to $3.3 million. The company reported net income of $8.3 million, or $0.04 per share, in the second quarter, shifting from a net loss of $5.0 million, or $0.05 per share, in the second quarter of 2025. That earnings turnaround was supported by operating gross profit and a non-cash financial instrument gain of $15.5 million, partially offset by increased finance costs linked to convertible debentures.

Denarius Metals closed the second quarter with $18.9 million in cash and cash equivalents, up from $6.9 million at the end of 2025, aided by $18.0 million received from the exercise of warrants and $3.5 million in additional funding from Trafigura under the Zancudo Prepayment Facility. Subsequent to the quarter end, Trafigura agreed to expand the prepayment facility from $9 million to $16 million to support ongoing exploration and accelerated mine development in the Las Brisas area.

On July 31, 2026, the company fully retired its convertible debentures, which had a principal amount of CA$34.2 million, through an early redemption settled in common shares. That transaction eliminated approximately CA$157 million in future interest and gold premium payments over the next four years and improved the company's adjusted working capital at June 30, 2026, to $12.8 million.

Construction continues on the new 1,000 tonnes per day processing plant at Zancudo, with high-grade gold-silver concentrate production expected to start in the fourth quarter of 2026. Drilling operations at the site continue under a 15,100-meter campaign designed to upgrade Inferred resources, alongside a 3,200-meter brownfield program intended to feed a new mineral resource update scheduled for late 2026.

Read the full announcement: DENARIUS METALS ANNOUNCES SECOND QUARTER AND FIRST HALF 2026 FINANCIAL RESULTS