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Prime Mining Reports Q1 2025 Financial and Operating Results
GlobeNewswire·2025-05-13 00:53

Core Insights - Prime Mining Corp. reported its operating and financial results for Q1 2025, focusing on the Los Reyes Gold-Silver Project in Mexico [1][2] - The company is preparing for a Preliminary Economic Assessment and has a planned 40,000m drill program for 2025 [3][12] Corporate Highlights - The company ended Q1 2025 with 18millionincash,supportingitsdrillingcampaign[2]−TotalassetsasofMarch31,2025,were18 million in cash, supporting its drilling campaign [2] - Total assets as of March 31, 2025, were 33.05 million, with total liabilities at 1.39million[11]ExplorationHighlights−SignificantdrillingresultswerereportedfromtheZ−TTrendandCentralTrend,withhigh−gradegoldandsilverintersections[4][5]−TheFresnilloGenerativeTargetwasextendedby120meters,withnotablegradesreported[5][6]CommunityEngagementandEnvironmentalStrategy−ThecompanyisactivelygatheringenvironmentalandcommunitydatatosupportitsESGprograms[8]−AsustainabilityreportwasreleasedinApril2023,withanewreportexpectedsoon[9]FinancialData−ThelossforQ12025was1.39 million [11] Exploration Highlights - Significant drilling results were reported from the Z-T Trend and Central Trend, with high-grade gold and silver intersections [4][5] - The Fresnillo Generative Target was extended by 120 meters, with notable grades reported [5][6] Community Engagement and Environmental Strategy - The company is actively gathering environmental and community data to support its ESG programs [8] - A sustainability report was released in April 2023, with a new report expected soon [9] Financial Data - The loss for Q1 2025 was 3.62 million, an improvement from a loss of 6.45millioninQ12024[11]−Losspersharedecreasedfrom6.45 million in Q1 2024 [11] - Loss per share decreased from (0.04) in Q1 2024 to $(0.02) in Q1 2025 [11] Future Outlook - The company plans to continue its drilling program to identify new targets and expand existing resources [12] - Ongoing drilling suggests that the main deposit areas are larger than previously reported, with potential for new discoveries [19]