Discovery beats forecasts despite higher gold costs - The Northern Miner

AI desk brief

Discovery reported quarterly gold output of 70,564 oz., up 12% year-on-year, while all-in sustaining costs rose 6% quarter-on-quarter to $2,293/oz. Annual production guidance remains 260,000–300,000 oz., but cash costs are expected at the top of guidance; National Bank attributed the earnings beat mainly to lower depreciation and working-capital movements. Discovery targets over 500,000 oz. annually at Porcupine, with first Dome ore expected in mid-2028. Mexico’s Cordero silver project received environmental and land-use permits, but cost estimates are being updated; its 2024 study projected 14 million payable oz. annually in the first decade. These developments establish no near-term directional bullion effect.