Austral Gold Files Q3 2026 Quarterly Activities Report
Austral moved from net financial debt to net cash, but reduced annual production guidance and raised Casposo cost expectations.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Austral Gold (AGLDF) reported a 50% quarterly increase in gold-equivalent production in Q3 2026 while lowering its full-year production guidance. Output from company-owned material reached 6,479 gold-equivalent ounces (GEOs), versus 4,313 in Q2, as Casposo completed its first full quarter processing its own ore.
Revenue fell to US$23.4 million from US$32.4 million, which included US$6.5 million in toll processing fees. Sales of 5,354 GEOs lagged production because of export shipment timing. Debt fell US$4.4 million to US$17.6 million, leaving net cash of US$2.5 million.
CY2026 production guidance fell to 24,000–27,000 GEOs from 27,000–33,000. Severe weather, high ore moisture and unplanned maintenance constrained Guanaco throughput in August and September. Casposo cost guidance rose. An updated Guanaco technical report supports a 14-year mine life and US$192.1 million after-tax net present value at a 10% discount rate.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointCompany-owned production rose 50% to 6,479 GEOs in Q3 2026, versus 4,313 in Q2.
- Moderate pointFinancial debt declined US$4.4 million to US$17.6 million. 7.2% of market cap
- Moderate pointUpdated Guanaco technical report supports 14-year mine life and US$192.1 million after-tax net present value at 10% discount rate.
- Minor pointCasposo monthly output increased from 803 GEOs in July to 1,334 GEOs in September.
- Minor pointNet cash reached US$2.5 million, versus US$1.7 million net financial debt at June 30; cash totaled US$20.1 million.
2 minor points
- Minor pointAverage cash margin was 32.5% in Q3 2026.
- Minor pointExploration investment totaled US$1.2 million across Chile and Argentina.
Negative
- Major point. Forward-looking: it has not happened yet and may not happen.CY2026 production guidance fell to 24,000–27,000 GEOs from 27,000–33,000.
- Moderate pointQ3 2026 revenue fell to US$23.4 million from Q2's US$32.4 million, including US$6.5 million toll processing fees.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Casposo CY2026 guidance rose to US$2,400–2,600/GEO cash cost and US$3,000–3,200/GEO all-in sustaining cost.
- Minor pointSales of 5,354 GEOs were below production because of export shipment timing.
- Minor point. Forward-looking: it has not happened yet and may not happen.Guanaco CY2026 production guidance was lowered to 13,000–14,000 GEOs; Casposo remained at 11,000–13,000 GEOs.
4 minor points
- Minor point. Forward-looking: it has not happened yet and may not happen.Guanaco full-year cash and all-in sustaining costs are expected towards the upper end of maintained guidance.
- Minor pointGuanaco throughput faced severe winter weather, high ore moisture and unplanned maintenance in August and September.
- Minor pointGuanaco Q3 cash cost/all-in sustaining cost: US$2,726/US$2,984 per GEO; year-to-date: US$2,686/US$2,988.
- Minor pointCasposo Q3 cash cost/all-in sustaining cost: US$3,123/US$4,032 per GEO; year-to-date: US$2,159/US$2,674.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Sydney, Australia--(Newsfile Corp. - October 26, 2026) - Established gold producer Austral Gold Limited (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) (Austral or the Company) is pleased to announce that it has filed its Q3 2026 Quarterly Activities Report. The complete Report is available under the Company's profile at www.asx.com.au, www.sedarplus.ca and on the Company's website at australgold.com.
Q3 2026 Highlights
Production up
50% : 6,479 gold equivalent ounces (GEOs) from Company-owned material (Q2 2026: 4,313 GEOs), driven by Casposo's first full quarter processing its own ore, with monthly output rising from 803 GEOs in July to 1,334 GEOs in September; Guanaco broadly steady at 3,313 GEOs despite severe winter weather.Net cash position: financial debt reduced by US
$4.4 million to US$17.6 million , resulting in net cash of US$2.5 million (30 June 2026: net financial debt of US$1.7 million ); cash and cash equivalents of US$20.1 million .Revenue and margin: revenue of US
$23.4 million (Q2 2026: US$32.4 million , including US$6.5 million of toll processing fees), with sales of 5,354 GEOs below production due to the timing of export shipments; average cash margin of32.5% .Unit costs: Q3 2026 C1 and AISC of US
$2,726 /GEO and US$2,984 /GEO at Guanaco (year-to-date: US$2,686 /GEO and US$2,988 /GEO), and US$3,123 /GEO and US$4,032 /GEO at Casposo (year-to-date: US$2,159 /GEO and US$2,674 /GEO).CY2026 guidance revised: production of 24,000–27,000 GEOs (previously 27,000–33,000 GEOs), with Guanaco lowered to 13,000–14,000 GEOs and Casposo unchanged at 11,000–13,000 GEOs. Casposo C1 and AISC guidance raised to US
$2,400 –2,600/GEO and US$3,000 –3,200/GEO; Guanaco cost guidance maintained, with full-year C1 and AISC expected towards the upper end of the range as Q4 production increases against a largely fixed cost base.Growth and exploration: updated Guanaco Technical Report¹ supports a 14-year mine life and an after-tax NPV (
10% discount rate) of US$192.1 million ; US$1.2 million invested in exploration across Chile and Argentina.
Chief Executive Officer of Austral Gold, Stabro Kasaneva, commented: "Casposo's first full quarter processing its own ore lifted our combined production by
¹ "Technical Report on the Guanaco Mine, Antofagasta Region, Chile" with an effective date of 31 May 2026 is available under the Company's profile on SEDAR+ at www.sedarplus.ca and on the ASX website at www.asx.com.au.
Competent Person's Statement
The information in this Announcement that relates to Mineral Resource and Mineral Reserve estimates, the Guanaco production target (life of mine) and the forecast financial information derived from it (after-tax NPV) is extracted from the announcement titled 'Austral Gold Announces Updated Guanaco Technical Report' released to the ASX on 23 July 2026, which is available on the ASX website and SEDAR+. The Company confirms that it is not aware of any new information or data that materially affects the information included in that announcement, that all material assumptions and technical parameters underpinning the estimates, the production target and the forecast financial information continue to apply and have not materially changed, and that the form and context in which the Competent Persons' findings are presented have not been materially modified from the original announcement.
The scientific and technical information in this Announcement has been reviewed and approved by Marcos Valencia, FAusIMM, who is a Qualified Person as defined by NI 43-101 and is not independent of the Company.
About Austral Gold
Austral Gold is a growing gold and silver mining producer building a portfolio of quality assets in the Americas based on three strategic pillars: production, exploration and equity investments. Austral continues to lay the foundation for its growth strategy by advancing its attractive portfolio of producing and exploration assets. Under its equity investments pillar, Austral holds shares in ASX-listed Unico Silver. For more information, please visit the Company's website at www.australgold.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This announcement has been authorised for release by the Company's Chief Executive Officer, Stabro Kasaneva, on behalf of the Board of Austral Gold Limited.
For additional information please contact:
| David Hwang | Jose Bordogna, CFA |
| Joint Company Secretary | Chief Financial Officer and Joint Company Secretary |
| Austral Gold Limited | Austral Gold Limited |
| david@confidantpartners.com | jose.bordogna@australgold.com |
| +61 433 292 290 | +61 466 892 307 |
Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements. Forward-looking statements are statements that are not historical, and consist primarily of projections and statements regarding future plans, expectations and developments. Words such as "expects", "intends", "plans", "may", "could", "potential", "should", "anticipates", "likely", "believes" and words of similar expressions are intended to identify forward-looking statements. The forward-looking statements in this announcement and the Q3 2026 Quarterly Activities Report include, but are not limited to, statements regarding the Company's revised calendar year 2026 production and cost guidance and the expected timing of calendar year 2027 guidance; production, operating cost and cash flow expectations; the timing, scope and expected outcomes of exploration, drilling, sampling, mapping and geophysical programs; the potential conversion of Mineral Resources within a predominantly Inferred Mineral Resource; expectations regarding resource growth; the timing and benefits of capital projects and plant upgrades; potential ore purchase arrangements at Casposo; the receipt of the deferred payment from Challenger Gold; the timing of submission and approval of the Environmental Impact Declaration for Guanaco and other permitting and regulatory approvals; future mine plans and production schedules; estimates of Mineral Resources and Mineral Reserves; life-of-mine plans, economic analyses and projected operating and financial performance; and the Company's strategy, business plans and growth opportunities.
All of these forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation, uncertainty of exploration programs, development plans and cost estimates, commodity price fluctuations; political or economic instability and regulatory changes; currency fluctuations, the state of the capital markets, uncertainty in the measurement of mineral resources and reserves; and other risks and hazards related to the exploitation and development of mineral properties, as well as the availability of capital. You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used.
Austral cannot assure that actual results, performance or outcomes will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. Forward-looking statements reflect the Company's current expectations regarding future events and operating performance and speak only as of the date hereof and Austral does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, readers should not place undue reliance on forward-looking statements.
Non-IFRS Financial Measures
This announcement includes certain non-IFRS financial measures, including C1 cash cost, all-in sustaining cost (AISC), average cash margin and net cash / (net financial debt). These measures do not have a standardised meaning under International Financial Reporting Standards (IFRS) and may not be comparable with similar measures presented by other issuers. C1 and AISC are presented per gold equivalent ounce (GEO) produced, and their composition is set out in the Q3 2026 Quarterly Activities Report. Net cash / (net financial debt) is cash and cash equivalents less financial debt. These measures are not a substitute for measures prepared under IFRS and have not been audited or reviewed.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/321092
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much gold-equivalent production did Austral Gold report for Q3 2026?
Austral Gold produced 6,479 gold-equivalent ounces from company-owned material in Q3 2026, up 50% from 4,313 in Q2. Casposo completed its first full quarter processing its own ore, while Guanaco production was broadly steady at 3,313 GEOs.
What is Austral Gold's revised 2026 production guidance?
Austral Gold revised CY2026 production guidance to 24,000–27,000 GEOs, from 27,000–33,000 GEOs. Guanaco guidance was lowered to 13,000–14,000 GEOs, while Casposo guidance remained unchanged at 11,000–13,000 GEOs.
Are Austral Gold's Q3 2026 cash cost and net cash measures audited IFRS figures?
No. Cash cost, all-in sustaining cost, average cash margin and net cash/net financial debt are non-IFRS measures that have not been audited or reviewed. They lack standardized IFRS meanings and may not be comparable with similarly named measures from other issuers.