Solidcore Resources plc has released its half-year report for the six months ending 30 June 2026, showcasing significant growth in production and revenue. The company reported no fatal accidents among its employees and contractors during the second quarter of 2026, although one lost-time injury was recorded in April. The injured employee received appropriate medical treatment, and their health is not at risk.
In terms of production, Solidcore achieved a remarkable 56% year-on-year increase in gold equivalent (GE) production, reaching 86 Koz in Q2 2026 and a total of 210 Koz for the first half of the year, marking a 71% increase. This surge in production was largely attributed to the successful recovery from third-party concentrate processing. The mine-level metal output remained stable, with 145 GE Koz produced in Q2 and 267 GE Koz in H1 2026, reflecting operational consistency across the company’s assets.
Sales figures mirrored production growth, with GE sales for the quarter amounting to 82 Koz—24% higher than the previous year—and half-year sales soaring by 97% to 205 Koz. This increase in sales was driven by robust production results and favourable gold prices. However, the company faced temporary delays in doré shipments due to new Russian gold export regulations, which caused a backlog at the Amursk POX facility. Fortunately, shipments to Kazakhstan resumed successfully in early July.
Financially, Solidcore reported a substantial increase in revenue, with figures rising by 71% to US$ 369 million for Q2 and a staggering 199% to US$ 972 million for the first half of 2026. This growth was propelled by strong gold prices and enhanced production and sales performance. Despite this positive trend, net cash decreased by 7% to US$ 648 million compared to US$ 699 million at the end of Q1 2026.
The company’s Ertis POX project is progressing as planned, with the project design documentation receiving state construction approval and the necessary environmental permits issued. In July, Solidcore secured a US$ 600 million financing package for the project’s construction, which includes a US$ 300 million loan from the European Bank for Reconstruction and Development and a US$ 300 million syndicated facility arranged by leading banks.
Looking ahead, the Syrymbet project is nearing a construction decision, with the feasibility study nearing completion and site preparations underway. Solidcore is set to publish its detailed half-year financial results on 8 September 2026, which will provide further insights into the company’s performance and future outlook.
