Imperial Reports Third Quarter 2025 Financial Results

Core Viewpoint - Imperial Metals Corporation reported strong financial results for the third quarter of 2025, driven by increased production and higher metal prices, positioning the company to meet or exceed its production guidance for the year [2][3][4]. Financial Performance - Total revenue for the September 2025 quarter was $168.8 million, up from $146.1 million in the same quarter of 2024 [4]. - Adjusted EBITDA reached $92.5 million, while cash earnings were $90.4 million, reflecting strong operational results and higher metal prices [3][32]. - Year-to-date revenue of $521.1 million has already surpassed the record annual revenue of $494.4 million achieved in 2024 [3]. - Net income for the September 2025 quarter was $38.5 million ($0.23 per share), compared to $32.3 million ($0.20 per share) in the same quarter of 2024 [8][26]. Production and Operations - Consolidated production for the nine months ended September 30, 2025, totaled 46,306,326 pounds of copper and 50,751 ounces of gold, with expectations to achieve the higher end of the 2025 guidance [2][10]. - The Mount Polley mine produced 7,655,763 pounds of copper and 9,285 ounces of gold, while the Red Chris mine contributed 6,269,947 pounds of copper and 6,498 ounces of gold [10][19]. - The average copper price per pound in the September 2025 quarter was CAD$6.12, up from CAD$5.69 in the same quarter of 2024, and the average gold price per ounce was CAD$4,758, compared to CAD$3,377 in the previous year [6]. Capital Expenditures - Capital expenditures for the September 2025 quarter were $69.1 million, an increase from $64.4 million in the same quarter of 2024, with significant investments in exploration and development [9][15]. - The company has not hedged any copper, gold, or US/CDN Dollar exchange as of September 30, 2025 [9]. Future Outlook - The company anticipates achieving copper production of about 30 million pounds and gold production of approximately 40,000 ounces for 2025, exceeding the high end of its production targets [14]. - Work on the Block Cave feasibility study is progressing, with potential for an investment decision next year, pending necessary consents and permits [20].