Illumin Holdings Projects Increased Gold Production for Florida Canyon Mine Through 2028

Illumin Holdings Advances Gold Production Forecast Amid Strategic Developments

Illumin Holdings focuses on strengthening its operational foundation at the Florida Canyon gold mine, as it unveils its production and cost guidance for 2026 and beyond. The forecast indicates that the Florida Canyon operation is set to produce between 70,000 and 75,000 ounces of gold in 2026, with projections ramping up to between 80,000 and 90,000 ounces for both 2027 and 2028. CEO George Salamis emphasizes that this operational reliability is critical for positioning the mine as a consistent cash-generating asset, rather than merely a transitional phase in the company's portfolio.

The guidance also includes significant insights into the expected costs of production. Total cash costs for 2026 are projected to range from $1,900 to $2,100 per ounce, hinging on an average gold price assumption of $3,800 per ounce. The all-in sustaining cost (AISC) is expected to land between $2,750 and $2,950 per ounce. Illumin highlights that these financials come with a sensitivity of approximately $7 per ounce for each $100 fluctuation in the gold price, thus guiding the company towards prudent financial planning in light of market volatility.

In addition to production targets, Illumin Holdings outlines its capital expenditures for the upcoming year, estimating sustaining capital costs to be between $62 million and $68 million. Notably, approximately $35 million to $40 million is earmarked for development activities, including advancements at other projects in DeLamar and Nevada North. The focus on operational upgrades, despite raising near-term costs, is indicative of a commitment to enhancing mining infrastructure and extending the longevity of the Florida Canyon asset, as stated by Salamis.

In related industry news, Pan Global Resources announces the commencement of drilling at its El Pozo target within the Escacena Project in Spain. This initiative represents the first phase of its 2026 exploration program, emphasizing the importance of leveraging modern technological data for enhanced resource estimation and project prioritization.

Meanwhile, Locksley Resources commences diamond drilling at the high-grade Desert Antimony Mine in California, marking a significant step towards re-establishing domestic production of critical minerals amid increasing demand and limited supply. This effort aligns with national security interests and positions Locksley resourcefully amid evolving industry dynamics.