EarningsQ2 2026 Earnings Report
DE:E8K Q2 2026 EPS Results
Actual EPS€0.09
Consensus EPS―
Beat/Miss―
One Year Ago EPS-€0.04
DE:E8K Q2 2026 Revenue Results
Actual Revenue€0.00
Expected Revenue―
Beat/Miss―
YoY Revenue Growth―
Earnings Announcement Details
QuarterQ2 2026
Date08/14/2026
TimeAfter Close
Conference CallFriday, August 14, 2026
DE:E8K Upcoming Earnings
Erdene Resources's next earnings date is estimated for March 15, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a clear operational ramp at Bayan Khundii with strong production growth (Q2 gold +37% vs Q1), improved grades and recoveries, a sizeable resource base and active exploration and PEA milestones (Zuun Mod). Financial results improved materially quarter-over-quarter (revenues +32% at the JV, Erdene net income up to $10M), with cash on hand and early debt repayment. Key challenges include elevated short-term unit costs (~USD 2,000/oz), substantial project debt (~USD 120M), remaining dilution/grade-control work, and execution/timing risks for heap leach, super-pit negotiations and financing for the capital-intensive Zuun Mod project. On balance, operational momentum, improving unit metrics and resource upside significantly outweigh the listed risks, though several outcomes hinge on upcoming drilling, metallurgical and PEA results.Company Guidance
Strong Gold Production Ramp
Bayan Khundii produced 11,709 ounces of gold in Q2 2026 (nearly 12,000 oz), a 37% increase versus Q1 2026; cumulative production since first pour (Sept 2025) is ~28,000 oz.
Improved Ore Grades and Grade Target
Ore feed grade improved to 2.4 g/t in Q2 (up 25% vs Q1) with a management target of 3.5 g/t by year-end to drive higher metal production and lower unit costs.
High Plant Throughput and Recoveries
Plant processed 153,000 tonnes in Q2 (avg 1,682 tpd, ~94% of capacity); gold recoveries averaged 96% (consistent and above target of 93%).
Mining Efficiency Gains
Mining moved 3.8 million tonnes of material (+19% vs Q1) and mined 247,000 tonnes of ore (+59% vs Q1). Improvements (blasting, GPS ore tracking, mobile crusher) reduced dilution from an early 30–40% range down to ~20% or less.
Strong JV Revenue and Improved Unit Costs
Erdene Mongol generated USD 53 million revenue in Q2 on sales of ~12,000 oz gold and ~3,300 oz silver; revenues +32% vs Q1. Total cost of revenue was USD 24 million (~USD 2,000/oz), ~20% lower than Q1.
Improved Consolidated Financial Results and Liquidity
Erdene's share of income from Erdene Mongol was $11.2M (50% ahead of Q1). Erdene reported net income of $10M ($0.15/share) in Q2 vs $4.8M ($0.07) in Q1. Corporate cash was $28M and Erdene Mongol cash USD 40M; joint venture made a subsequent USD 10M debt repayment.
Significant Resource Base and Growth Pipeline
Updated Erdene Mongol global resources: 835,000 oz at 2.9 g/t (measured & indicated) and 265,000 oz at 1.5 g/t (inferred). Altan Nar indicated resource of 313,000 oz (2.16 g/t) + 210,000 oz inferred and ~90% within 150 m of surface, providing development optionality.
Active and Well-Defined Exploration Programs
12,000 m H2 2026 exploration program approved (9,000 m Striker West; 3,000 m Dark Horse/Altan Arrow) with the objective to expand near-mine resources and support mine-life extensions and potential plant expansions.
Dark Horse Satellite and Heap Leach Potential
Dark Horse hosts a 50,000 oz high-grade surface deposit with strong intercepts (e.g., 9.6 g/t over 19 m, 28.7 g/t over 3 m). Grade control drilling underway to bring Dark Horse into mill feed H2 2027. Initial heap leach amenability testing at Blue Coast indicates expected recoveries >60% (potentially low 70s) for Dark Horse oxides.
Zuun Mod PEA Nearing Completion and Market Interest
Zuun Mod molybdenum-copper PEA expected in mid-H2 (~60 days noted); project is among Asia's largest undeveloped moly-copper deposits ~200 km from China. Management reports offtake interest from several Asian counterparties and favorable molybdenum pricing (stabilized above USD 30/lb over past 6 months).
Operational and Community Performance
565 staff/contractors on site with 520,000 person-hours in Q2; 12-month rolling LTIFR of 2 per million hours; zero reportable environmental incidents; active local training and scholarship programs.
Capital Allocation Actions
Corporate financing completed earlier in the year (CAD $29M in Q1) and a normal course issuer bid launched; ~100,000 shares repurchased at avg $5.20, demonstrating active balance-sheet management.
DE:E8K Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed