Bear Creek Mining Reports Q2 2025 Financial and Operating Results

Core Viewpoint - Bear Creek Mining Corporation reported its interim consolidated financial results for Q2 2025, highlighting challenges in production and financial performance, alongside ongoing strategic reviews and debt restructuring efforts [1][3][24]. Financial Results - Revenue for Q2 2025 was $27.8 million, with a comprehensive loss after taxes of $11.7 million, equating to a loss of $0.04 per share [3][24]. - Cash generated from operating activities was $(1.7) million, while investing activities used $(10.3) million, and financing activities generated $10.1 million [3][25]. - As of June 30, 2025, the company held cash and cash equivalents totaling $4.8 million, down from $6.7 million at the end of 2024 [25]. Production Highlights - The Mercedes mine produced 7,973 ounces of gold and 33,932 ounces of silver during Q2 2025 [4][6]. - Cash costs per gold ounce sold were $2,327, and all-in sustaining costs (AISC) per gold ounce sold were $2,753 [3][4]. - The total tonnes mined were 91,941, with 89,488 tonnes processed, and a recovery rate for gold of 96% [3][6]. Operational Challenges - Production was lower than planned due to contractor underperformance and challenging ground conditions at the Marianas deposit [6][8]. - The company terminated its mining services agreement with the underperforming contractor and transitioned to a new contractor to enhance efficiency [7][8]. - A comprehensive recovery plan is being implemented to address the development deficit at the Marianas deposit [8][10]. Strategic Review - The ongoing Strategic Review aims to explore various options, including recapitalization, asset sales, or mergers, to enhance company value [22]. - The company has deferred interest payments on certain debt arrangements until December 31, 2025, to improve liquidity [19][22]. Development Activities - During Q2 2025, 1,828 meters of development were achieved at the Mercedes Mine, a reduction attributed to contractor issues [10]. - Delineation and infill drilling continued at the Marianas deposit, with expenditures of $1.0 million during the quarter [14]. Corani Project - Activities at the Corani Property focused on assessing the Oxides opportunity and community support initiatives, but further work on this opportunity is currently on hold due to the Strategic Review [15][16]. Social and Environmental Initiatives - The company maintained environmental monitoring activities around the Corani camp during Q2 2025 [18].