Versamet Royalties Corporation reported revenue of $23.7 million for the second quarter ended June 30, 2026, representing a 392% increase over the $4.8 million generated in the same period of 2025.

The financial result was underpinned by record attributable gold equivalent ounces of 5,255 for the quarter, compared to 1,475 GEOs in the second quarter of 2025. Operating cash flow before working capital changes reached $19.5 million, up 506% from $3.2 million in the prior-year period, while net income stood at $4.9 million, compared to $13.8 million in Q1 2026. Adjusted EBITDA reached a record $18.8 million, up from $2.2 million a year earlier.

During the quarter, Versamet completed the acquisition of a cornerstone Canadian gold stream on the Eskay Creek gold-silver project located in British Columbia. The company also secured admission to the MSCI Canada Small Cap Index.

“During the quarter, we completed the transformative acquisition of the Eskay Creek gold stream, materially enhancing our near-term growth profile. Alongside several organic growth catalysts, including the completion of the Rosh Pinah expansion and first gold production at Toega and Cuiú Cuiú, we expect our annual attributable production run rate to increase to approximately 35,000 GEOs once Eskay Creek begins production next year.”

— Dan O'Flaherty, CEO

Versamet reaffirmed its full-year 2026 production guidance of 20,000 to 23,000 GEOs, having achieved more than 10,000 GEOs in the first half of the year. Gold traded at $4,350.30 per ounce, representing a 7.37% increase over the 30-day period ending August 13, 2026.

Asset contributions across the portfolio reflected varied operational updates during the quarter. At Greenstone, gold production reached 64,656 ounces, a 26% increase over the second quarter of 2025, driven by a 47% increase in ore mined and a 21% increase in tonnes processed. The plant operated above nameplate capacity on 69% of days during the quarter, up from 51% in the first quarter. Versamet is entitled to monthly deliveries equal to the greater of 1.26% of gold production or 350 ounces of gold.

The Kiaka royalty generated contributions from 67,571 ounces produced during the quarter, with operator West African Resources holding 18,253 ounces of unsold gold bullion that Versamet expects to contribute to GEOs in subsequent quarters. Kiaka is expected to produce between 240,000 and 280,000 ounces of gold in 2026. At Rosh Pinah, the company sold 72,216 ounces of silver, while commissioning of the new SAG mill for the RP2.0 expansion project advanced past 95% overall construction progress.

At Cuiú Cuiú, construction of the wet processing circuit is more than 90% complete, and first gold production is targeting September 2026, with ramp-up to full production planned during the fourth quarter of 2026. Meanwhile, construction and pre-production stripping activities continued at Toega, where stage 1 open pit mining is currently behind schedule due to ongoing explosives supply constraints, leading to expected delays in ore delivery to the Sanbrado mill.

Read the full announcement: Versamet Royalties Reports Record Gold Equivalent Ounces for Q2 2026