Hemlo Mining Boosts Resources by 34% Amid Owner-Operator Transition — Hemlo Mining Corp.

Event summary

Hemlo Mining reported Q2 2026 revenue of $142.5M, net income of $31M, and attributable gold production of 25,188 ounces.
The company achieved a 34% increase in Measured & Indicated Mineral Resources, adding 1.2 million ounces of gold.
Hemlo completed an Impact Benefit Agreement with Biigtigong Nishnaabeg and graduated to the Toronto Stock Exchange from TSXV.
Operational metrics improved significantly, including a 42% increase in development metres and a 65% rise in longhole production drilling.

The big picture

Hemlo Mining's strategic focus on owner-operator transition and resource expansion positions it to extend mine life and enhance long-term shareholder value. The significant increase in mineral resources, coupled with improved operational metrics, underscores the company's commitment to production growth and efficiency. These developments are critical as Hemlo aims to navigate a competitive gold mining landscape while managing elevated costs for skilled labor and consumables.

What we're watching

Resource Conversion: The pace at which inferred resources are converted to indicated categories will determine the success of future reserve growth.
Operational Efficiency: Whether Hemlo can sustain improved operational metrics while ramping up production to 4,800 tonnes per day by year-end.
Market Access: How the OTCQX listing and TSX graduation will impact investor access and trading liquidity.