Royal Gold reports that the Hod Maden handover to Lidya is complete, with on-site operations and major construction continuing as planned. Lidya is reviewing the project schedule and execution plan, while key workstreams—main access tunnels, the Salicor tunnel, permanent camp infrastructure, and water management—advance toward the 2028 initial concentrate production target, with progress and communications described as solid as of mid-2026.
Generated by Dafinchi AI. Source-grounded AI analysis, not investment advice.
What did management say about Hod Maden operational handover progress?
Management said the transition of operatorship from SSR Mining to Lidya at Hod Maden is complete and that construction is continuing while Lidya undertakes a review of the project schedule and execution plan. 1
They also characterized the handover at the mine-site level as “gone well,” stating that not really very much has changed operationally aside from some senior leadership changes, and that the work expected to continue under SSR is still going ahead and appears to be ramping up as expected. 2
In their description of progress, management highlighted specific ongoing work streams:
Management further stated they are comfortable with:
Management provided a snapshot of overall project progress and cost commitments:
Based on management’s comments, the key takeaway is that handover is completed and operations/construction are continuing normally, with management describing the transition as successful and the remaining work (tunnels, camp, water management) as ongoing/ramping, while Lidya performs a review that could affect final schedule details—though management still expects initial concentrate production in 2028. 23
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