Patagonia Gold Corp. generated US$4.5 million in revenue during the second quarter of 2026, marking an increase from the US$3.0 million reported in the corresponding period of 2025.

The quarterly financial figures reflect contributions from the Calcatreu operations in Argentina’s Río Negro Province alongside residual output from the Cap Oeste operations in Santa Cruz. During the three months ending June 30, 2026, Calcatreu produced 1,960 gold equivalent ounces and sold 515 gold equivalent ounces. Residual processing at Cap Oeste yielded 443 gold equivalent ounces produced and 547 gold equivalent ounces sold.

Production figures for Calcatreu consisted of 1,934 gold ounces and 1,780 silver ounces produced, with 511 gold ounces and 232 silver ounces sold. These totals were converted to a gold equivalent using an average spot market price ratio of 62.35:1 for the period, compared to 96.11:1 in the second quarter of 2025. Cap Oeste residual production comprised 214 gold ounces and 14,524 silver ounces produced, alongside 267 gold ounces and 18,111 silver ounces sold.

Exploration expenditures rose to approximately US$0.7 million for the quarter, compared to US$0.3 million in Q2 2025. The capital allocation comprised US$0.2 million directed toward exploration at Calcatreu and US$0.5 million spent on regional projects in Santa Cruz, which were expensed during the period. The company continued exploration drilling at Calcatreu aimed at expanding the project's existing mineral inventory.

The Calcatreu project currently hosts indicated mineral resources of 669,000 gold ounces and 6,275,000 silver ounces, accompanied by inferred mineral resources of 348,000 gold ounces and 3,399,000 silver ounces. Independent consultancy NCL Ltda is advancing an updated mineral resource estimate for the deposit to incorporate recent technical data.

Read the full announcement: Patagonia Gold Quarter 2 2026 Financial Results