Gunnison Copper Corp. generated US$23.6 million in revenue during the second quarter of 2026, rising from US$20.1 million in the first quarter, as the Johnson Camp mine continued its transition into active operations.

Net income for the three months ended June 30, 2026, reached US$13.1 million, or US$0.03 per share, compared with net income of US$1.7 million, or US$0.004 per share, in the previous quarter. Second-quarter revenue consisted of US$13.7 million from copper cathode sales and US$9.8 million of deferred mining and processing demonstration service revenue. Production totaled 2,006,315 pounds of copper cathode during the period, compared with 2,106,583 pounds in the first quarter, while material mined increased from 655,510 short tons to 1,392,559 short tons.

At June 30, 2026, Gunnison held US$33.2 million in cash and cash equivalents, including US$25.1 million of non-Nuton cash and US$8.2 million of Nuton-related cash. Subsequent to quarter end, the company completed the cash settlement of its outstanding Greenstone convertible debentures, eliminating approximately US$5.3 million of convertible debt and accrued interest and preventing the potential issuance of approximately 28.9 million common shares.

Gunnison controls the Cochise Mining District, which contains 12 known deposits within an 8-kilometre economic radius in the Southern Arizona Copper Belt. Its flagship Gunnison Copper Project is advancing a major district-wide drilling program comprising up to 120 drill holes totaling approximately 138,000 feet, supported by an approximately US$15 million budget. The program is designed to support resource expansion, metallurgical optimization, and resource conversion for an ongoing Pre-Feasibility Study, with the final study and key permit amendments targeted for the first half of 2028.

At Johnson Camp, commercial production is expected in the third quarter of 2026, with the operation targeting nameplate production rates by year-end. Over the 30-day period ended August 13, 2026, copper recorded a price of US$0.41 per pound, up 3.63% from a prior price of US$0.40 per pound.

Read the full announcement: Gunnison Copper Reports Second Quarter 2026 Financial and Operational Results