Dundee Corporation Reports Third Quarter 2026 Profit and Continued Progress at Shovelnose
Key Highlights
- ➤Q3 net earnings attributable to owners $41.6 million, down from $90.6 million
- ➤Q3 diluted EPS $0.53, down from $0.92 year over year
- ➤Cash $142.2 million at quarter-end, with minimal debt and financial flexibility
- ➤OceanaGold agreed to acquire Ausgold; transaction expected to close in December 2026
- ➤Saturn investment reached AUD$12.0 million, with an additional AUD$8.0 million commitment pending approvals
Expert Statements
Jonathan Goodman, President and Chief Executive Officer of Dundee Corporation
“The third quarter of 2026 marked continued progress in the execution of Dundee’s mining strategy”
Jonathan Goodman, President and Chief Executive Officer of Dundee Corporation
“At Shovelnose, we completed the 117-hole resource infill drilling program and advanced the technical work required to support the South Zone pre-feasibility study, which is targeted for completion in the second half of 2027.”
Jonathan Goodman, President and Chief Executive Officer of Dundee Corporation
“With six drills remaining active, our focus is turning to regional exploration while continuing to build the technical foundation required to make disciplined development decisions.”
Jonathan Goodman, President and Chief Executive Officer of Dundee Corporation
“Just as importantly, our work at Shovelnose is helping Dundee build the technical, operating and organizational capabilities required as we evolve toward a more direct role in mining projects.”
Jonathan Goodman, President and Chief Executive Officer of Dundee Corporation
“Together with Westhaven and the experienced joint venture team, we have the opportunity not only to advance a high-quality asset, but also to strengthen the systems and processes that will support Dundee’s mining strategy.”
Jonathan Goodman, President and Chief Executive Officer of Dundee Corporation
“Beyond Shovelnose, we continue to evaluate opportunities across the mining sector.”
Jonathan Goodman, President and Chief Executive Officer of Dundee Corporation
“Recent market volatility reinforces the importance of maintaining both investment discipline and financial flexibility.”
Jonathan Goodman, President and Chief Executive Officer of Dundee Corporation
“With $142.2 million in cash at quarter-end, minimal debt, and an experienced team, Dundee has the financial flexibility to remain disciplined and acts when we see opportunities capable of creating meaningful long-term value for our shareholders.”
TORONTO, Nov. 10, 2026 (GLOBE NEWSWIRE) -- “The third quarter of 2026 marked continued progress in the execution of Dundee’s mining strategy,” said Jonathan Goodman, President and Chief Executive Officer of Dundee Corporation. “At Shovelnose, we completed the 117-hole resource infill drilling program and advanced the technical work required to support the South Zone pre-feasibility study, which is targeted for completion in the second half of 2027. With six drills remaining active, our focus is turning to regional exploration while continuing to build the technical foundation required to make disciplined development decisions.”
“Just as importantly, our work at Shovelnose is helping Dundee build the technical, operating and organizational capabilities required as we evolve toward a more direct role in mining projects. Together with Westhaven and the experienced joint venture team, we have the opportunity not only to advance a high-quality asset, but also to strengthen the systems and processes that will support Dundee’s mining strategy,” Mr. Goodman continued.
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