#Canada #Toronto #financial results #Gold Production #Hemlo Mining

Hemlo Mining Corp. Reports Impressive Q3 2026 Results

On November 9, 2026, Hemlo Mining Corp. shared their financial and operational results for the third quarter ending September 30, 2026. The report showcases the Company's steady progress and resilience, even amidst challenges.

Financial Highlights

Hemlo Mining recorded a remarkable $135.5 million in revenue for the third quarter, generated through the sale of 32,424 gold ounces at an average price of $4,234 per ounce. When looking at the year-to-date figures, the total revenue reached $464.2 million, resulting from the sale of 103,534 ounces of gold at an average price of $4,561 per ounce.

Costs and Income Analysis

The company's net income for Q3 2026 was $3.5 million, amounting to $0.01 per share, while the adjusted net income stood at $15.6 million or $0.05 per share. Comparatively, the net income for the first nine months of the year surged to $56.2 million with an adjusted income of $75.6 million.

The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) was strong at $51.6 million for Q3 2026, emphasizing the Company’s operational efficiency.

Operational Highlights

Hemlo Mining achieved an attributable gold production of 25,652 ounces for the quarter and 80,539 ounces year-to-date, maintaining a solid recovery rate of 95%. Notably, higher-grade ore from the Interlake operation played a critical role in supporting stable production levels throughout the quarter, despite experiencing some setbacks due to an underground electrical substation outage that impacted their ramp-up plans.

In total, the production drilling increased by 35% relative to the previous quarter, while paste filling also saw a 13% hike, indicating a proactive approach to maintaining production rates. The Company successfully added new mobile mine equipment to improve operational efficiency with seven additional units brought on-site during the quarter.

Strategic Developments

A significant strategic milestone was reached when Hemlo Mining's shares were included in the VanEck Junior Gold Miners ETF, enhancing its market presence. The Company's ongoing investments in workforce development, as well as its underground fleet and exploration initiatives, exemplify their commitment to long-term growth and operational excellence.

President and CEO Jason Kosec highlighted that, despite facing operational challenges, the firm’s focus remains on executing its strategic priorities effectively. This focus has fostered a solid cash position of approximately $144.8 million at the end of Q3, allowing for sustainable operations and future prospects.

Looking Ahead

With ongoing investments and progressive exploration strategies, Hemlo Mining appears poised for continued success in the future. The Company plans to host a conference call on November 10, 2026, to further discuss its robust Q3 results, inviting stakeholders to engage in its forward momentum.

Conclusion

In conclusion, Hemlo Mining Corp. demonstrated a remarkable third quarter in 2026, marked by resilient production numbers and robust financial performance. As it navigates industry challenges with strategic foresight, Hemlo Mining remains a key player in the gold mining sector, committed to enhancing its value and operational success moving forward.