Ero Copper Reports First Quarter 2025 Operating and Financial Results

Core Viewpoint - Ero Copper Corp. reported strong operational and financial results for Q1 2025, driven by increased copper production and higher metals prices, with a focus on achieving record copper production in 2025 [1][4][7]. Financial Highlights - Revenues for Q1 2025 were $125.1 million, up from $122.5 million in Q4 2024 and $105.8 million in Q1 2024 [13]. - Net income attributable to owners of the Company was $80.2 million ($0.77 per diluted share), a significant recovery from a net loss of $48.9 million in Q4 2024 [13][14]. - Adjusted EBITDA for the quarter was $63.2 million, compared to $59.1 million in Q4 2024 and $43.3 million in Q1 2024 [13][34]. Operational Highlights - Consolidated copper production reached 12,424 tonnes, with the Tucumã Operation contributing 5,067 tonnes and Caraíba Operations producing 7,357 tonnes [5][11]. - Gold production totaled 6,638 ounces, with average C1 cash costs of $1,100 per ounce and All-in Sustaining Costs (AISC) of $2,228 per ounce [5][12]. - The company achieved a 32% quarter-on-quarter increase in ore tonnes processed at the Tucumã Operation, with more than half of the production occurring in March 2025 [11][15]. Production and Cost Guidance - Ero Copper expects full-year copper production for 2025 to range between 75,000 and 85,000 tonnes, with sequential increases anticipated throughout the year [15][17]. - The company reaffirmed its gold production guidance of 50,000 to 60,000 ounces for the Xavantina Operations, supported by higher processed tonnage and improved gold grades [16][17]. Capital Expenditure Guidance - Capital expenditure guidance for 2025 remains unchanged at $230 to $270 million, excluding capitalized ramp-up costs prior to the declaration of commercial production at the Tucumã Operation [20][21]. Liquidity Position - At the end of Q1 2025, available liquidity was $115.6 million, including $80.6 million in cash and cash equivalents and $35 million of undrawn availability under the senior secured revolving credit facility [5][43].