09:38 AM EDT, 07/10/2025 (MT Newswires) -- Golconda Gold ( GGGOF ) on Thursday reported higher gold production in the second quarter at its Galaxy Gold Mine.

The company said gold produced in Q2 increased 90% to 3,030 ounces, compared with 1,591 ounces in the prior-year period.

"The continued positive trend in gold production and development, along with the record realised gold price in Q2, is providing meaningful cash generation allowing continued investment in Galaxy and repayment of debt," said Golconda Gold ( GGGOF ) Chief Executive Ravi Sood. "Galaxy is well positioned to continue increasing production, especially with the addition of new working faces, and to generate material cashflow now and into the future."

Shares of the company closed up 1.5% to $0.66 on Wednesday on the TSX Venture Exchange.

Price: 0.70, Change: +0.04, Percent Change: +6.06