Trekor Announces $164 Million of Adjusted EBITDA in Third Quarter
Key Highlights
- ➤Q3 Adjusted EBITDA $164.2 million, up $102.0 million year-over-year
- ➤Q3 revenue $342.2 million, up $168.3 million year-over-year
- ➤Gibraltar 2026 copper guidance raised to 115-120 million pounds
- ➤Florence produced 7.0 million pounds of copper, up 35% sequentially
- ➤Florence 2026 production expected at 25-28 million pounds, reaching capacity early 2027
Expert Statements
Stuart McDonald, President & CEO of Trekor
“Another solid production quarter at Gibraltar, and continued strength in copper prices drove excellent financial performance in the quarter. Net income and Adjusted EBITDA for the third quarter both surpassed any previous quarter in our history. We’re looking forward to continued improvement as Florence Copper ramps-up to its production capacity over the coming months.”
Stuart McDonald, President & CEO of Trekor
“Gibraltar’s solid performance through three quarters has been a positive catalyst and has allowed us to capitalize on a very strong copper market. We continue to see some inflationary pressure on input costs, particularly diesel and explosives which increased unit costs by approximately US$0.30 per pound compared to a year ago. Offsetting some of these higher costs are a continued strong molybdenum by-product credit and favourable treatment and refining terms, which will improve again in 2027,”
Stuart McDonald, President & CEO of Trekor
“We have been operating the Florence wellfield for nearly a year now and are pleased with the progress made in the production ramp-up. Wellfield drilling productivities have improved significantly in recent months. With six drill rigs now operating, we expect to complete the planned 100 wells this year, positioning us to achieve full production capacity early next year,”
Stuart McDonald, President & CEO of Trekor
“Yellowhead, which represents an important source of longer-term value for Trekor, continues to advance through the environmental assessment process. Alongside ongoing community engagement and consultation and other permitting work, site investigation activities carried out over the summer and fall are now wrapping up for the season. In September, the project was highlighted at the Canada Investment Summit, where the federal government showcased Canada’s top energy, critical mineral, and other projects to leading international investors.”
VANCOUVER, British Columbia, Nov. 04, 2026 (GLOBE NEWSWIRE) -- Trekor Metals Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) ("Trekor" or the "Company") reports third quarter 2026 Adjusted EBITDA* of $164 million and Cash flow from operations of $122 million. Revenues in the third quarter were $342 million from consolidated sales of 37.4 million pounds of copper and 358 thousand pounds of molybdenum. Third quarter net income was $34 million ($0.09 per share) and Adjusted net income* was $55 million ($0.15 per share).
Stuart McDonald, President & CEO of Trekor, commented, “Another solid production quarter at Gibraltar, and continued strength in copper prices drove excellent financial performance in the quarter. Net income and Adjusted EBITDA for the third quarter both surpassed any previous quarter in our history. We’re looking forward to continued improvement as Florence Copper ramps-up to its production capacity over the coming months.”
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