Kingston Resources (ASX: KSN) has reported a robust financial and operational performance for the quarter ending 31 March 2026. The ASX-listed company, which is currently producing gold and silver from its Mineral Hill gold and copper mine in NSW with an objective to establish itself as a mid-tier gold and base metals company, recorded net revenue from metal sales of $24.8 million. Operating cash flow saw a substantial increase of 264% quarter-on-quarter, reaching $11 million. The company concluded the period with $25.4 million in cash on hand, plus $7.4 million in restricted cash, and maintained a zero-debt position.
Operationally, the quarter was marked by a material uplift in feed grades from its open pit mining operations, with gold averaging 2.4g/t and silver at 93g/t. Silver production was a significant earnings driver, with 75,578 ounces sold. Kingston also achieved a key milestone in its transition towards underground mining and base metal production, having mined and processed its first copper-gold ore. This material was successfully processed into copper concentrate, de-risking the future shift, and underground ventilation infrastructure was installed.
Kingston Managing Director Andrew Corbett highlighted the strong financial and operational performance, noting the material uplift in feed grades from Pearse South, which drove a significant increase in silver revenue. He emphasised the substantial progress in advancing underground operations, calling the successful delivery and processing of first copper-gold development ore a key milestone towards a combined precious and base metals future. Mr Corbett added that with infrastructure largely in place, the company is well-positioned to commence mining of ore stopes later in the year, anticipating stronger margins from lower waste movement, higher expected grades, and continued commodity price strength. Development activities continue with processing plant optimisation underway to target higher recoveries, and high-grade drill hole results supporting an updated Mineral Resource estimate.
