Core Viewpoint - IMPACT Silver Corp. reported a 27% increase in revenue for Q2 2025, driven by higher production and strong commodity prices, indicating a positive financial trajectory for the company [1][3]. Financial Performance - Revenue for Q2 2025 was $9.8 million, up from $7.7 million in Q2 2024, with year-to-date revenue reaching $20.5 million [1]. - Mine operating income before amortization and depletion improved to $1.6 million in Q2 2025 from a loss of $0.2 million in Q2 2024 [1]. - The company reported a net loss of $2.0 million for the quarter, which included $0.5 million in deferred taxes, $1.1 million in exploration costs, and $0.6 million in amortization and depletion [1]. - As of the end of the quarter, the company had $10.3 million in cash and $13.3 million in working capital, with no long-term debt [1]. Operational Highlights - The Zacualpan/Guadalupe complex processed 69,185 tonnes of mill feed year-to-date 2025, a 4% increase from 66,797 tonnes in the same period of 2024 [4]. - Silver production from the Guadalupe complex was 295,131 ounces in the first half of 2025, a 2% increase from 289,443 ounces in the first half of 2024 [5]. - Lead production increased by 15%, and gold production improved by 58% to 237 ounces from 150 ounces in the comparative period [5]. - The average mill head grade for silver fell by 2% to 158 g/t compared to 161 g/t in 2024 [5]. Production and Cost Metrics - At Plomosas, the mill processed 27,747 tonnes year-to-date 2025, a 116% increase from 12,850 tonnes in the first half of 2024 [6]. - Direct costs per tonne at Plomosas fell to $230.14 in 2025 from $400.70 in 2024 [8]. - Revenue per tonne sold for the first six months in 2025 increased by 38% to $209.84 from $152.09 [5]. Strategic Outlook - The company anticipates further improvements in production and revenue due to ongoing exploration and development activities at both Zacualpan and Plomosas [10][11]. - Management plans to maintain active exploration and pursue strategic partnerships to enhance shareholder value [11].

Core Viewpoint - Calibre Mining Corp. reported strong financial and operational results for Q1 2025, with gold production of 71,539 ounces and a focus on cost discipline, positioning the company to potentially exceed its full-year production guidance of 230,000 to 280,000 ounces [2][10][22]. Financial Performance - Consolidated revenue for Q1 2025 was $202.6 million, compared to $131.9 million in Q1 2024, reflecting a significant increase [18]. - The company achieved net earnings of $22.6 million in Q1 2025, up from a net loss of $3.6 million in Q1 2024 [19]. - Adjusted net earnings for Q1 2025 were $40.1 million, compared to $5.6 million in Q1 2024 [44]. - The average realized gold price per ounce sold was $2,796, an increase from $2,092 in Q1 2024 [43]. Operational Highlights - Gold production was 64,469 ounces from Nicaragua and 7,070 ounces from Nevada, with a consolidated total of 71,539 ounces [10][20]. - The total cash cost (TCC) was $1,221 per ounce, while the all-in sustaining cost (AISC) was $1,389 per ounce [11][19]. - The Valentine Gold Mine is expected to produce approximately 200,000 ounces of gold annually, with first gold expected by the end of Q3 2025 [3][7]. Valentine Gold Mine Update - The initial project capital cost for the Valentine Gold Mine has increased to approximately C$854 million, with $203 million in cash fully funding the project as of April 30, 2025 [3][12]. - Construction is nearing completion, with the primary crusher commissioned and the coarse ore stockpile ready to receive material by the end of May [4][12]. - The largest pure exploration drill program in the property's history is underway, totaling 100,000 meters [10][22]. Merger with Equinox Gold - The merger with Equinox Gold is expected to close by the end of Q2 2025, creating a major Americas-focused gold producer with enhanced scale and diversification [8][14]. - The combined entity is projected to deliver greater value than either company could achieve independently, with a strong balance sheet and a pipeline of development projects [14][27].