Orogen reported approximately 44,000 metres of partner-funded drilling across seven projects, including over 7,000 metres of conversion drilling at the Navidad deposit, covered by its 2% Ermitaño NSR royalty. The company also received C$1.72 million from project sales and partner payments and created two new royalties.
Orogen reported Q1 2026 net income of C$4.4 million, up 144%, and royalty revenue of C$3.4 million from 519 attributable GEOs at Ermitaño. The company generated C$1.8 million in operating cash flow and ended the quarter debt-free with C$30 million in working capital.
AXO Metals secured environmental approval for its San Antonio gold project in Sonora, authorizing mine construction and operation. The permit covers existing infrastructure and all deposits. Mining at Sapuchi, Golfo de Oro and California still requires land-use approval, expected before year-end.
Goldgroup appointed board chair Javier Reyes as interim CEO and began searching for a permanent chief executive. Allen Palmiere stepped down as president and CEO and is expected to remain as an advisor. The company’s strategy remains unchanged as it integrates the merger and advances Don David, San Francisco, Cerro Prieto and Back Forty.
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