Dundee (DC-A) Q2 2026 earnings summary

Executive summary

• Advanced mining strategy with $85 million partnership to develop Shovelnose Gold Project and Spences Bridge Gold Belt.

• Significant progress in infill and exploration drilling, reinforcing confidence in asset quality.

• Maintained disciplined capital allocation and risk assessment amid sector volatility.

• Strong balance sheet with substantively no debt and experienced management team.

Financial highlights

• Reported net loss from portfolio investments of $22.7 million in Q2 2026 (2025: income of $17.4 million); six-month net loss of $94.3 million (2025: income of $45.6 million).

• Net loss attributable to owners for Q2 2026 was $28.1 million (2025: earnings of $19.9 million), or loss per share of $0.31 (2025: EPS $0.20).

• Six-month net loss attributable to owners was $34.8 million (2025: earnings of $44.4 million), or loss per share of $0.39 (2025: EPS $0.46).

• General and administrative expenses for Q2 2026 were $3.8 million (2025: $4.2 million); six-month total $7.3 million (2025: $8.8 million).

Outlook and guidance

• Focus remains on advancing high-quality mining assets and unlocking long-term value through disciplined investment and technical engagement.

• Well positioned to capitalize on future opportunities due to strong balance sheet and minimal debt.