Core Insights - Discovery Silver Corp. reported strong financial and operational results for Q3 2025, driven by increased gold production and sales following the acquisition of the Porcupine Complex [2][5][10] - The company generated net cash from operating activities of $153.5 million and free cash flow of $86.8 million, reflecting a significant increase in gold sales and a higher average realized gold price [2][8][12] - Discovery's cash position grew by 35% to $341.5 million, supported by a new revolving credit facility of $250 million, enhancing its capital for future investments [2][32] Q3 2025 Performance Summary - Net earnings reached $42.4 million ($0.05 per share), a turnaround from a net loss of $3.9 million in Q3 2024 [5][16] - Gold production totaled 63,154 ounces, up from 50,552 ounces in Q2 2025, with gold sales increasing to 66,200 ounces [5][12] - Operating cash costs averaged $1,339 per ounce sold, with all-in sustaining costs (AISC) averaging $1,734 per ounce sold, compared to $2,074 in the previous quarter [5][24] Year-to-Date 2025 Performance Summary - For the first nine months of 2025, the company produced 113,706 ounces of gold, with total revenue of $379.0 million [15][23] - Adjusted net earnings for YTD 2025 were $86.5 million ($0.13 per share), compared to an adjusted net loss of $6.4 million in YTD 2024 [15][16] - Total capital expenditures for YTD 2025 amounted to $112.5 million, with $75.5 million allocated to growth capital expenditures [15][25] Exploration and Growth Initiatives - The company is advancing exploration programs at the Porcupine Complex, with promising drill results reported from various sites, including Hoyle Pond and Owl Creek [3][31] - A 140,000-meter drill program is underway, aimed at resource conversion and expansion, with results expected to support an updated technical report in 2026 [31][32] - Discovery plans to optimize production at existing operations while exploring new opportunities at the Dome Mine and TVZ Zone [31][36] Cordero Project Overview - The Cordero Project is recognized as one of the world's largest undeveloped silver deposits, with significant investment and exploration activities ongoing since its acquisition in 2019 [27][28] - The feasibility study indicates a potential for large-scale production with low unit costs, contributing to substantial free cash flow [28][29] - The company is focused on advancing the Cordero project while ensuring compliance with environmental and community standards [32][33]