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Cerro de Pasco Resources Reports 2025 Fiscal Year-End Financial Results and Strategic Milestones
Globenewswireยท2025-07-30 11:55

Core Viewpoint - Cerro de Pasco Resources Inc. has significantly improved its financial position through strategic realignment and the sale of non-core assets, achieving a net income of $24.6 million for the fiscal year ended March 31, 2025, compared to a net loss in the previous period [1][4]. Financial Performance - Net income for FY 2025 was $24.6 million, a turnaround from a net loss of $29.3 million in FY 2024 [3][4]. - Earnings per share increased to $0.06 from a loss of $0.09 per share in the prior period [3][4]. - Cash balance rose to $11.5 million, with positive working capital of $6.3 million, compared to a deficit of $55.0 million in the previous year [3][4]. - Shareholders' equity improved to $6.7 million, reversing a deficit of $40.8 million [3][4]. - Total assets decreased to $16.3 million from $37.4 million, while total liabilities dropped significantly to $9.6 million from $78.2 million [3][4]. Strategic Developments - The sale of the Santander mine in August 2024 eliminated over $70 million in liabilities and allowed the company to focus on the Quiulacocha Tailings Project [5]. - The company raised over $17 million through private placements, enhancing liquidity and shareholder alignment [5]. - An easement agreement was signed with Activos Minerales S.A.C. in May 2024, enabling a 40-hole drilling program at Quiulacocha [5]. Future Outlook - The company is advancing technical, environmental, and permitting activities at Quiulacocha, aiming to deliver its Preliminary Feasibility Study (PFS) and achieve near-term development milestones [6]. Company Overview - Cerro de Pasco Resources focuses on developing its 100% owned El Metalurgista mining concession, which consists of silver-rich mineral tailings and stockpiles from over a century of mining operations [7]. - The strategy includes reprocessing and environmental remediation of historic mining waste, aiming to unlock value while supporting sustainable development [7].