West Red Lake Gold 2026年Q2财报电话会议纪要

发布时间：2026-08-27 一、AI总结内容 一、核心要点 1. 2026年Q2公司Mattson矿商业生产向好，Q2采选规模环比增长：采选矿石约7.5万吨，环比增46%；金产量1.002万盎司，环比增逾46%；核心金产量8576盎司，环比增51%；销量8200盎司，环比增34%；选矿平均处理量842吨/日，超设计产能47%，回收率维持约95% 2. 财务表现大幅提升：总维持成本环比降30%至3284美元/盎司，符合全年2800-3600美元/盎司指引；现金成本环比降23%至2000美元/盎司；营收约4900万美元，环比增17%；矿山利润约2000万美元，环比增31%；营业利润率41%，环比提升4pct；调整后EBITDA约2200万美元，环比增54%；调整后净利润约1300万美元，环比增98%；每股基本收益0.03加元，Q1为0.02加元；Q2末现金及等价物3100万美元，正自由现金流970万美元，非维持增长资本支出630万美元用于Fork矿段和Mattson井架升级 二、后续规划 1. 全年生产将符合2026年指引，上半年产量偏下半年，当前核心是运营水平一致性，重点为地下开发、采场序列优化，配套Fork矿段和904复杂区域开发；预计9月中下旬发布合并Mattson与Fork的更新预可行性研究，2027年起贡献产能 2. 产能与成本优化方向：年内选矿处理量拟提升至1000吨/日，远期目标1300吨/日，正推进另一台破碎机的许可与安装，用于提升大尺寸矿石处理能力；地下井架升级后将提升提升能力至700吨/日，降低运输成本 三、风险与关注 1. 运营风险：地下开采存在地面条件变化问题，可能影响采矿速率、品位和处理效率，目前因部分区域过大矿石导致稀释率超预期；行业内经验丰富的地下矿工短缺，影响运营推进，公司通过增加地表库存平抑波动 2. 资本与财务：当前债务为Mattson重启及商业化生产的短期过渡融资，公司正积极评估优化融资成本的方案；有68美分行权价的权证11月到期，行权或可补充资金四、关键催化剂 1. 2026年剩余时间将有多项进展披露，包括Starr-Orson卫星矿完钻结果、904复杂区域钻井进展、Fork矿段平巷开拓进度、Fork矿段与Mattson合并更新预可行性研究 二、音频原文（转写） Thank you for standing by. This is the confidence operator. Welcome to the Westbrook Lake Gold Mine second quarter 2026 results webcast. As a reminder, all participants are in listen only modeand the event is being recorded. After the presentation, there will be a Q&A session. Participants are encouraged to submit their questions usi ng the form at the bottom of the webcast frame.If management is unable to make it through all the questions during the allotted time, someone will follow up with you by email in the day. Is that follow? I would now like to turn the floor over to ShaneWilliams, chief executive officer. Please go ahead. Good morning everyone. Thank you for joining us today to discuss the West Red Lake Gold's second quarter results. Joining me on the call today is Harpreet Baliwal, chief financial officerof the company, and Jacqueline Robpash, our vice president of corporate communications. So before I begin, I'd like to encourage listeners to review the cautionary language. Regarding forward-looking statements. Contained in our news release. MDNA issued yesterday. and are available oncedar and on our website So I just want to starttoday by stepping back a little. and looking atwhere we've come over the first six months of commercial production at Mattson. A significant part of our focus earlier this year was on underground development and establishing and setting up additional mining areas. To give us greater flexibility within the operation. In Q2, we started to see the benefits that were controlled in our operating results. so this quarter we achieveda number of milestones. we mined approximately75,000 tons of material during the quarter. andthat was a 46% increase over Q1. The grade improved 4.3 grams per tonne. resulting in 10,000, just over 10,000 tons mine ounces. which was a large increase quarter over quarter. SO core production increased to eight thousand five hundred and seventy six ounces. which was a 51% increase and gold sales increased 34% to 8,200 ounces. Sowe're pleased with the progress the team have made during the quarter. and I think it's important. 啊。 To remind everybody that this improvement wasn'tisolated to one part of the operation. We had higher mining rates underground. improved grantsHire mid trooper. all of which contributed to the higher gold production or which are part of anongoing ramp up. あ、怖い。 High grade underground mine. The mill averaged about 842 tons per day. which is near. ええ。it washigher than current capacity during Q two of forty. seven percent from Q1, while recoveries maintained at approximately 95%. We've been very pleased with the ramp-up of the mill It's holding its recovery, which is. design recovery and alsowe're getting the comments above It's primitivecapacity. At the same time, our mining rates allowed us. To build a surface stockpile. I have to. End of the quarter. which obviously gives us that month. important indicator of progress we'vemade. It provides operational flexibility between the mine and the mill, which is a key part ofour strategy as we look into the rest of the year. So we're building flexibility on the ground.We've talked consistently through the importance of developing. ahead of ourselves, and establishing multiple mining fronts. that gives the operating team more Optionality around mind sequence. 对。 So Q2 demonstrated considerably higher operatinglevels and Q1. And importantly, that operationprogress is translating into significant stronger financial performance. With that, I'll turn the call over to Harprey to review the financial results for Q2. 不是。 Thank you Shane and good morning everyone. As Shane outlined, the increase in production duringQ2 translated directly into stronger financial performance, including a significant improvementin our unit costs. All in sustaining costs decre ased 30%. Order over order. to U.S. $3,284 per ounce sold. compared to roughly US 4,700 per ounce in Q1. bringing our Q2 all in sustaining costswithin our 2026 Guidance range