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Artemis Gold
Artemis Gold (ARTG) investor relations material
Artemis Gold Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary6 Aug, 2026
Executive summary
Achieved record quarterly gold production of 74,063 oz and gold sales of 78,126 oz in Q2 2026, driven by strong grades and recoveries and operational improvements.
Revenue reached CAD 433.6M, adjusted EBITDA was CAD 285.2M, and adjusted net income was CAD 199.7M ($0.83 per diluted share) for Q2 2026.
Declared inaugural quarterly dividend of CAD 0.05/share, with plans to increase to CAD 0.08/share in 2027 and target 40% of free cash flow as dividends from 2028.
Phase 1A expansion 57% complete, on track for Q4 2026 commissioning, and EP2 expansion ahead of schedule with major works started and all long-lead equipment ordered.
Strengthened balance sheet with total available liquidity of CAD 879M at quarter-end and downside gold price protection via put options.
Financial highlights
Q2 2026 revenue reached CAD 433.6M, up from CAD 231.1M in Q2 2025, with adjusted EBITDA of CAD 285.2M and adjusted net income of CAD 199.7M.
Record operating cash flow of CAD 208M, with cash and equivalents at CAD 179M and total liquidity of CAD 879M.
Sold 78,126 oz of gold, with 49,000 oz at CAD 6,119/oz and 23,000 oz under hedge at CAD 2,995/oz.
All-in sustaining cost (AISC) of US$955/oz, cash costs at US$813/oz, and AISC margin of 71%.
Growth capital expenditures in Q2 2026 totaled CAD 131.6M; full-year guidance for growth capital is CAD 685M–755M.
Outlook and guidance
Maintaining 2026 gold production guidance of 265,000–290,000 oz at AISC of US$925–1,025/oz, trending toward higher end.
AISC expected to trend toward higher end of guidance due to inflation, partially offset by improvement initiatives.
Phase 1A to be commissioned in Q4 2026, with full benefit in 2027; EP2 to increase capacity to 21M tons/year by H2 2028 and target over 500,000 oz annual gold production by 2029.
Dividend policy targets progressive increases and 40% of free cash flow payout from 2028.
Growth capital for 2026 projected at CAD 685M–755M, funded from operating cash flow.
Impact of grade reconciliation on stockpile plans
Role of gold put options in EP2 funding strategy
Feasibility of debottlenecking to 25 Mtpa
Rationale for the $5,300 gold put option program
Update on the $89M Sedgman lien and counterclaim
Details on the 92,000 ounce Gold Stream increase
Detail the CIL circuit agitator replacement plan
How does the gold put option protect EP2 funding?
Explain the 2028 variable dividend calculation
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Latest events from Artemis Gold
- Record Q1 2026 results, robust margins, expansion progress, and new dividend policy announced.ARTG
Q1 2026 - Record gold output, strong margins, and a new dividend policy drive robust growth outlook.ARTGQ4 2025
- Blackwater mine targets over 500,000 oz gold annually with industry-low costs and strong growth.ARTGCorporate presentation
- Phase 2 expansion targets 21 Mtpa and over 500,000 oz annual gold output by 2028.ARTGStatus Update
- Blackwater Mine delivers strong cash flow, low costs, and significant growth potential.ARTGCorporate Presentation
- Q3 2025 saw record gold output, high margins, and robust cash flow amid rising cost guidance.ARTGQ3 2025
- Q2 2025 delivered strong production, low costs, and a $700M facility to fund future growth.ARTGQ2 2025
Next Artemis Gold earnings date
Q3 20264 Nov, 2026
Artemis Gold
Next Artemis Gold earnings date
Q3 20264 Nov, 2026
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