Mineros Strong Half-Year Results Set Up Self-Funded Push to 300,000 oz Annual Production - Crux Investor

AI desk brief

Mineros reported record first-half 2026 results and is using strong gold cash flow to fund growth internally, with CEO Daniel Henao targeting 300,000 oz/year output over time. The company lifted 2026 guidance to 220,000-240,000 gold-equivalent ounces, helped by higher recoveries, a $25 million plant expansion in Nicaragua and tighter grade control; all-in sustaining cost guidance is $2,370-$2,470/oz.

Mineros said it has about $230 million in liquid assets, including roughly 40,000 oz of gold, to finance Porvenir’s $206.8 million initial capex without external funding. The PFS for Porvenir, run at $3,150/oz gold, shows a 37.9% after-tax IRR and $460 million after-tax NPV at a 5% discount rate, while additional upside sits in Tolima (historical estimate 28 million oz) and La Pepa (2.5 million oz resources).