Gold miner Solidcore quadruples H1 EBITDA to $641 mlnGold miner Solidcore Resources quadrupled its adjusted EBITDA in the first half of 2026 to $641 million.The adjusted EBITDA margin rose to 66%, from 47% in the first half of last year, the company said in a statement.Revenue tripled to $972 million, driven by the resumption of third-party concentrate processing and, as a result, increased sales volumes, as well as by higher gold prices. However, the bulk of revenue - $603 million - came in the first quarter, as Dore metal deliveries from Polymetal's Amur POX hub to Russia were suspended from late May to early July due to changes in Russian gold export regulations.Adjusted net profit and net profit amounted to $465 million and $453 million, respectively.Capex grew 50% to $193 million due to the construction of the Ertis POX hub, investment in which reached $153 million. The company affirmed its full-year capex guidance of $510 million, including $315 million for Ertis POX. The guidance does not include investments in the Syrymbet project, which is expected to be approved in the fourth quarter.The company's net cash position (negative net debt) rose 41% during H1 to $653 million at the end of June, and to $747 million at end-August.Solidcore Resources’s revenue in the first half of 2026 surged 199% year-on-year to $972 million, up from $325 million in the same period last year.Total cash costs fell 2% to $1,435 per gold equivalent ounce, while all-in sustaining costs declined 13% to $1,912 per ounce.Adjusted EBITDA jumped 322% to $641 million, compared with $152 million a year earlier.The average realized gold price rose 50% to $4,748 per ounce.Net income soared 433% to $453 million, while adjusted net income increased 358% to $465 million.Net cash from operating activities swung to positive $436 million from negative $86 million in the first half of 2025.Capital expenditures rose 51% to $193 million.Free cash flow turned positive at $243 million, compared with negative $220 million a year earlier. Adjusted free cash flow, excluding M&A activity, stood at $173 million, up from negative $235 million.Solidcore Resources plc is a gold producer registered in the Astana International Financial Centre, with shares trading on the Astana International Exchange. The company operates two producing assets in Kazakhstan and is building the Ertis POX plant in the east of the country. Its largest shareholder is Maaden, a consortium of Omani investors led by Mercury Investments International (31.7%), a fund owned by the government of Oman. (ICE ALMATY)

Fonte notizia: INTERFAX