Discovery Mining Ltd. posted record quarterly revenue of $319.1 million for the second quarter of 2026, more than double the $142.0 million reported in Q2 2025, driven by higher gold sales and one month of production from the newly acquired Kidd Operations.

Net earnings reached $52.1 million, or $0.06 per share, compared to $5.5 million in Q2 2025. Adjusted net earnings more than tripled to $92.3 million, or $0.11 per share. Gold production at the Porcupine Complex totaled 67,309 ounces in Q2 2026, up from 50,552 ounces in Q2 2025, resulting from 904,244 tonnes processed at an average grade of 2.57 g/t. Gold operating cash costs averaged $1,387 per ounce sold, while all-in sustaining costs reached $2,154 per ounce sold.

Discovery completed the acquisition of the Kidd Operations on June 1, 2026, adding the Kidd Metallurgical Site and the Kidd Creek Mine. The assets provide copper, zinc, and silver exposure alongside infrastructure to support future gold processing. During June, Kidd processed 102,839 tonnes of ore to produce 1,286 tonnes of copper and 3,361 tonnes of zinc.

"Finally, we completed the acquisition of the Kidd Operations in Timmins on June 1, 2026. These operations include the Kidd Metallurgical Site and the Kidd Creek Mine. Completing the Kidd acquisition is critical for our future growth plans." — Tony Makuch, CEO

Discovery is evaluating the construction of a new conventional gold circuit at the Kidd Met Site and other modifications to support future gold production.

Total liquidity stood at $607.8 million at June 30, 2026, including $364.3 million in cash and no debt. Discovery subsequently increased its revolving credit facility to $400 million with maturity extended to July 30, 2030. Management remains on track to achieve full-year 2026 guidance of 260,000 to 300,000 ounces of gold.

"Turning to our Q2 2026 results, we achieved record gold production and revenue, and increased gold sales 11% from last quarter. Adjusted earnings more than tripled from Q2 2025 and were 12% higher than in Q1 2026." — Tony Makuch, CEO

Read the full announcement: Discovery Reports Record Revenue, Strong Year-Over-Year Earnings Growth in Q2 2026