Goldgroup Files Second Quarter 2026 Financial Results and Provides Update on Combined Company
Newsfile Corp
Published: Sep 01, 2026, 01:09 AM
Sentiment Analysis
Goldgroup Mining Inc. (TSXV: GORO) (NYSE American: GORO) (FSE: 55G) ("Goldgroup" or the "Company") is pleased to announce that it has filed its financial statements and management's discussion and analysis ("MD&A") for the second quarter ended June 30, 2026.
The Company is also pleased to announce that the Board of Directors of Goldgroup has appointed Mr. Javier Reyes, who had been serving as Interim Chief Executive Officer, as the Company's permanent Chief Executive Officer.
In addition, the Company provides an update on activities across its expanded portfolio following the completion of its transformational combination with Gold Resource Corporation ("Gold Resource") on July 17, 2026.
Goldgroup's second quarter financial statements and MD&A cover the three and six months ended June 30, 2026, and relate to Goldgroup's operations prior to completion of the transaction with Gold Resource. Importantly, the Q2 financial statements do not include the financial results or operating activities of Gold Resource.
Javier Reyes, Chief Executive Officer and Chair of the Board of Goldgroup, commented: "The filing of our second quarter financial results marks an important reporting milestone for Goldgroup. However, shareholders should recognize that these results represent Goldgroup as it existed prior to the completion of our combination with Gold Resource and therefore do not reflect the financial contribution or operating performance of Don David or Back Forty."
"The real significance for shareholders is what has happened since quarter-end. We have completed the transformational combination and are now operating a substantially larger company with two producing mines, a formerly producing operation being evaluated for a potential restart and a major development project. At the same time, we are advancing aggressive exploration and development programs across the portfolio."
"Our focus is straightforward: grow production, expand resources, extend mine lives and advance San Francisco and Back Forty toward their next major milestones. We believe the combined company provides Goldgroup with a much stronger platform from which to create long-term shareholder value."
Goldgroup Operating and Financial Results Summary for the Second Quarter Period Ending June 30, 2026
Operating Statistics
Three months ended June 30, 2026
Three months ended June 30, 2025
Six months ended June 30, 2026
Six months ended June 30, 2025
High-grade ore mined (t)
305,300
159,264
650,000
253,407
Run of mine ("ROM") (t)
13,955
50,889
Waste mined (tonnes)
2,623,628
580,021
4,862,937
912,462
Total mined (tonnes)
2,942,883
739,285
5,563,826
1,165,869
Waste-to-ore-ratio
8.22
3.64
6.94
3.6
Ore to pad (t)
318,437
163,063
596,693
388,042
ROM to pad (t)
13,955
50,889
Recovery
66%
48%
85%
49%
Grade of ore mined (g/t Au)
0.59
0.59
0.55
0.62
Grade of ROM mined (g/t Au)
0.30
0.41
Grade of ore placed on pad (g/t Au)
0.56
0.57
0.48
0.55
Grade of ROM placed on pad (g/t Au)
0.30
0.41
Gold ounces - produced
3,843
1,446
7,938
3,417
Gold ounces - sold
4,748
1,588
8,996
3,190
Source: Newsfile Corp
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