v3.26.1
REVENUE
12 Months Ended
Dec. 31, 2025
Revenue [abstract]  
REVENUE

20       REVENUE

 

                       
    2025     2024     2023  
Gold     675,328       397,376       240,080  
Copper & Gold concentrate     251,647       202,709       178,662  
Provisional prices     (9,577 )     (5,922 )     (1,848 )
Other (a)     4,335       -       -  
Revenue     921,733       594,163       416,894  

 

Revenues for the Minosa, Apoena, Borborema, MSG and Almas relate to the sale of refined gold and for the Aranzazu mine relates to the sale of copper and gold concentrate. The Company’s revenues are concentrated in 4 clients (see Note 28(d)).

 

For the year ended December 31, 2025, Honduras, Mexico and Brazil represented 25.0%, 26.7% and 48.3% of the Company´s revenue, respectively (29.9%, 33.1% and 37.0% in 2024; 29.3%, 42.4% and 28.3% in 2023).

 

For the year ended December 31, 2025, the Company´s main clients were Asahi Refining Inc, Trafigura México, S.A. de C.V., Auramet International, Inc and Metalor Technologies SA., which represented 53.4%, 26.9%, 12.7%, 6.5% of the Company´s revenue, respectively (18.9%, 31.1%, 48.8%, 0.0% in 2024; 21.4%, 40.7%, 36.2% and 0% in 2023).

 

(a) “Other” revenue for the year ended December 31, 2025, relates to the sale of molybdenum from the Aranzazu mine.