Denarius Metals Reports Revenue Growth and Debt Restructuring

The Toronto-based miner reported $4.9 million in revenue for the second quarter of 2026, bringing its half-year total to $8.4 million. This marks a significant departure from the company's 2025 performance, where total annual revenue stood at $1.7 million. Operations at the Zancudo Project produced 923 ounces of payable gold and 9,304 ounces of silver during the quarter, with head grades averaging 11.3 g/t for gold and 217.1 g/t for silver.

Financial stability remains a primary focus, underscored by the July 31 retirement of CA$34.2 million in convertible debentures. By converting this debt into common shares, the company expects to eliminate approximately CA$157 million in future gold premiums and interest payments over the next four years. This move, combined with an $18 million cash inflow from warrant exercises, has improved the company's adjusted working capital position to $12.8 million as of June 30.

Beyond current production, the company is aggressively pursuing growth. Drilling campaigns at Zancudo are underway to expand resource estimates, while preparations to restart the Aguablanca project in Spain continue toward a mid-2027 target. Additionally, a strategic investment in Copper Giant Resources Corp. signals an expansion into the Colombian copper sector, funded by a private placement with partner Trafigura.