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Drilling Intersects 152.5 Metres Grading 0.46% Copper and 0.97 g/t Gold at Mount Polley
Globenewswire· 2025-05-22 22:06
Core Viewpoint - Imperial Metals Corporation reports promising initial diamond drill results from the Mount Polley 2025 exploration program, highlighting significant mineralization in the C2 Zone, particularly with a notable interval of 152.5 metres grading 0.46% copper and 0.97 g/t gold [1][6]. Group 1: Exploration Results - The C2 Zone, located south of the Cariboo Pit, shows gold values exceeding copper values, with much of the copper mineralization being oxidized, leading to lower recovery rates [2]. - The exploration program prioritizes the C2 Zone due to the recent increase in gold prices, aiming to fill gaps in historic drilling and target higher-grade zones at depth [2]. - Significant intercepts include: - Hole C2-25-116: 35.0 metres grading 0.31% copper and 0.62 g/t gold [3][4]. - Hole C2-25-117: 48.0 metres grading 0.41% copper and 1.10 g/t gold [5]. - Hole C2-25-118: 91.2 metres grading 0.53% copper and 1.10 g/t gold [5]. - Hole C2-25-121: 152.5 metres grading 0.46% copper and 0.97 g/t gold, including 85.0 metres grading 0.67% copper and 1.56 g/t gold [6]. Group 2: Company Overview - Imperial Metals is based in Vancouver and operates the Mount Polley mine, along with other properties including the Huckleberry mine and the Red Chris mine [10]. - The company holds a portfolio of 23 greenfield exploration properties in British Columbia, which have defined areas of mineralization and clear exploration potential [10].
Intrepid Metals Completes Tombstone Amendment
Newsfile· 2025-05-20 21:00
Core Points - Intrepid Metals Corp. has amended its option agreement with New Empire Exploration LLC to acquire a 100% interest in the Tombstone South Property in Arizona, extending the work commitment deadlines from May 2025 to May 2026 and from May 2026 to May 2027, in exchange for 300,000 common shares and an additional payment of US$25,000 [1] - The company has entered into a services agreement with Resource Stock Digest for promotional services, with an initial 3-month program starting May 15, 2025, for a fee of US$10,000 [2][3] - Resource Stock Digest will not receive shares or options as compensation, and the agreement is subject to approval from the TSX Venture Exchange [4][5] Company Overview - Intrepid Metals Corp. focuses on exploring high-grade essential metals such as copper, silver, and zinc in southeastern Arizona, with several drill-ready projects including the Corral Copper Project and the Tombstone South Project [6] - The company is traded on the TSX Venture Exchange under the symbol "INTR" and on the OTCQB Venture Market under "IMTCF" [6]
Imperial Reports First Quarter 2025 Financial Results
Globenewswire· 2025-05-12 11:36
Core Viewpoint - Imperial Metals Corporation reported solid operating and financial results for Q1 2025, with significant increases in production and revenue compared to the same quarter in 2024 [2][6]. Financial Performance - Total revenue for Q1 2025 was $176.6 million, up from $84.6 million in Q1 2024, representing a 108.8% increase [2][23]. - Net income for Q1 2025 was $41.3 million ($0.26 per share), compared to a net loss of $9.2 million ($0.06 loss per share) in Q1 2024, marking a $50.5 million improvement [6][23]. - Adjusted EBITDA for Q1 2025 was $97.7 million, significantly higher than $9.9 million in Q1 2024 [29][30]. Production Highlights - Consolidated production totaled 15,842,336 pounds of copper and 17,120 ounces of gold, representing increases of 28% and 33% respectively compared to Q1 2024 [2][10]. - Mount Polley mine produced 8,904,389 pounds of copper and 10,621 ounces of gold, up from 7,355,191 pounds of copper and 10,009 ounces of gold in Q1 2024 [11][12]. - Red Chris mine produced 23,126,491 pounds of copper and 21,663 ounces of gold, compared to 16,660,225 pounds of copper and 9,507 ounces of gold in the same quarter of 2024, reflecting increases of 38.8% in copper and 127.9% in gold production [15][16]. Operational Insights - Capital expenditures for Q1 2025 were $47.0 million, an increase from $36.2 million in Q1 2024, with significant investments in exploration and development [7][14]. - The average copper price per pound was $4.24 in Q1 2025, up from $3.83 in Q1 2024, while the average gold price per troy ounce rose to $2,862 from $2,072 [4][5]. Cash Flow and Costs - Cash earnings for Q1 2025 were $96.0 million, compared to $9.9 million in Q1 2024, with cash earnings per share increasing to $0.59 from $0.06 [30][31]. - The cash cost per pound of copper produced was $0.24 for the composite of both mines in Q1 2025, significantly lower than $2.71 in Q1 2024 [35]. Regulatory and Legal Matters - The Xatśūll First Nation initiated a petition for judicial review regarding decisions made by the Ministry of Mining and Critical Minerals related to the Mount Polley Mine, which could impact operations [13][14]. Technical Developments - The Red Chris Block Cave Feasibility Study is progressing, with 11,413 meters of development completed as of March 31, 2025 [19]. Company Overview - Imperial Metals Corporation is based in Vancouver and operates the Mount Polley mine, Huckleberry mine, and holds a 30% interest in the Red Chris mine, along with a portfolio of exploration properties [36].
Intrepid Metals Engages Independent Trading Group as Market Maker
Newsfile· 2025-05-09 21:30
Core Viewpoint - Intrepid Metals Corp. has engaged Independent Trading Group (ITG) for market-making services to enhance liquidity and maintain a reasonable market for its shares, subject to regulatory approval [1][2]. Group 1: Market Making Agreement - ITG will receive a monthly compensation of CAD$7,500, paid in advance, under a one-month renewable agreement [2]. - The agreement can be terminated by either party with a 30-day notice, and there are no performance factors or equity compensation involved [2]. - ITG and Intrepid are unrelated entities, with no current interest in each other's securities [2]. Group 2: Company Overview - Intrepid Metals Corp. focuses on exploring high-grade essential metals such as copper, silver, and zinc in southeastern Arizona, USA [4]. - The company has several drill-ready projects, including the Corral Copper Project and the Tombstone South Project, which have significant historical drill results [4]. - Intrepid is traded on the TSX Venture Exchange under the symbol "INTR" and on the OTCQB under "IMTCF" [4]. Group 3: Independent Trading Group Overview - Independent Trading Group (ITG) is a Toronto-based dealer-member specializing in market making, liquidity provision, and algorithmic trading solutions [3]. - Established in 1992, ITG utilizes proprietary technology to deliver high-quality liquidity and execution services [3].
Nexa Resources Publishes 2024 Sustainability Report
Newsfile· 2025-04-28 21:20
Core Insights - Nexa Resources has published its 2024 Sustainability Report, highlighting its commitment to corporate sustainability and socially responsible practices [1] - The report details various initiatives and achievements across operations, workforce, communities, and environmental stewardship [1] Sustainability Framework - The report adheres to the frameworks of the International Integrated Reporting Council (IIRC) and the Global Reporting Initiative (GRI), and aligns with the Sustainability Accounting Standards Board (SASB) and the recommendations of the Task Force on Climate-Related Financial Disclosure (TCFD) [2] Company Overview - Nexa Resources is a large-scale, low-cost integrated polymetallic producer, primarily focused on zinc, with over 65 years of experience in mining and smelting in Latin America [3] - The company operates four long-life underground polymetallic mines in Peru and Brazil, and one low-cost open pit mine in Peru, along with three smelters [3] - Nexa was ranked among the top five producers of mined zinc globally in 2024, according to Wood Mackenzie [4]
Imperial Reports Production Update for 2025 First Quarter and Petition Filed Relating to the Mount Polley Tailings Storage Facility Raise
Globenewswire· 2025-04-23 22:31
Core Viewpoint - Imperial Metals Corporation reported significant increases in copper and gold production for Q1 2025 compared to Q1 2024, with copper production up 28% and gold production up 33% [1] Production Summary Mount Polley Mine - Copper production for Q1 2025 was 8.904 million pounds, up from 7.355 million pounds in Q1 2024, representing a 21% increase [2][3] - Gold production for Q1 2025 was 10,621 ounces, compared to 10,009 ounces in Q1 2024, a 6% increase [2][3] - Ore milled increased to 1,721,769 tonnes in Q1 2025 from 1,671,505 tonnes in Q1 2024, a 3% increase [3] - Copper grade improved to 0.282% in Q1 2025 from 0.251% in Q1 2024, while gold grade slightly decreased to 0.275 g/t from 0.282 g/t [3] - Recovery rates for copper and gold improved to 83.3% and 69.8% respectively in Q1 2025, compared to 79.4% and 66.0% in Q1 2024 [3] Red Chris Mine - Copper production for Q1 2025 was 23.126 million pounds, up from 16.660 million pounds in Q1 2024, a 39% increase [5][6] - Gold production for Q1 2025 was 21,663 ounces, compared to 9,507 ounces in Q1 2024, a 128% increase [5][6] - Ore milled decreased slightly to 2,049,475 tonnes in Q1 2025 from 2,100,354 tonnes in Q1 2024 [6] - Copper grade increased significantly to 0.62% in Q1 2025 from 0.43% in Q1 2024, while gold grade improved to 0.54 g/t from 0.26 g/t [6] - Recovery rates for copper and gold were 82.6% and 60.5% respectively in Q1 2025, compared to 83.4% and 53.6% in Q1 2024 [6] Legal and Community Engagement - Xatśūll First Nation filed a Petition in the Supreme Court of British Columbia seeking a judicial review of decisions that authorized an increase in the height of the dam at the Tailings Storage Facility [8][9] - The petition alleges that the decisions were made without a legally required environmental assessment and breached duties owed to Xatśūll as an Indigenous people [9] - Imperial and its subsidiary, Mount Polley Mining Corporation, have engaged with Indigenous communities, including Xatśūll, throughout the permitting process and have maintained a positive relationship with the Williams Lake First Nation [10]
Intrepid Metals Receives Drill Permits and Resumes Exploration Activities at Corral Copper
Newsfile· 2025-04-22 11:00
Intrepid Metals Receives Drill Permits and Resumes Exploration Activities at Corral Copper April 22, 2025 7:00 AM EDT | Source: Intrepid Metals Corp. Vancouver, British Columbia--(Newsfile Corp. - April 22, 2025) - Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF) ("Intrepid" or the "Company") is pleased to announce that drill permits for an approximately 5,000 meter ("m") Phase 2 drill program (the "Phase 2 Drill Program") have been received for the Corral Copper Project ("Corral" or the "Property"), locat ...
Nexa Resources Prices Offering of US$500 Million 6.600% Senior Unsecured Notes Due 2037
Newsfile· 2025-04-01 23:47
Core Viewpoint - Nexa Resources has priced an offering of US$500 million in senior unsecured notes with a 6.600% interest rate, maturing in 2037, with the closing expected on April 8, 2025 [1][3]. Group 1: Offering Details - The offering consists of US$500 million in senior unsecured notes due in 2037 [1]. - The notes are guaranteed by Nexa Resources Cajamarquilla S.A. and Nexa Recursos Minerais S.A. [2]. - The notes will be sold only to qualified institutional buyers and non-U.S. persons, adhering to specific regulations under the U.S. Securities Act [4]. Group 2: Use of Proceeds - The net proceeds from the offering will primarily be used to fund a cash tender offer for existing notes due in 2027 and 2028 [3]. - Remaining proceeds will be allocated for the redemption of any existing notes due in 2027 not repurchased in the tender offers and for general corporate purposes, including liability management transactions [3]. Group 3: Company Overview - Nexa Resources is a large-scale, low-cost integrated polymetallic producer, primarily focused on zinc, with over 65 years of experience in mining and smelting in Latin America [6]. - The company operates four long-life underground polymetallic mines and one low-cost open pit mine in Peru, along with three smelters in Brazil and Peru [6]. - In 2024, Nexa was among the top five producers of mined zinc globally and one of the top five metallic zinc producers worldwide, according to Wood Mackenzie [7].
T2 Metals Completes Winter Drill Program at Sherridon Copper-Gold Project, Manitoba and Earns 90%
Newsfile· 2025-03-26 12:00
Core Insights - T2 Metals Corp. has completed its winter core drilling program at the Sherridon copper-gold project, achieving a total of 1,120 meters drilled in four holes [1][4] - The drilling program has allowed T2 Metals to fulfill expenditure milestones to achieve 90% ownership of the Sherridon project under an Option Agreement with Halo Resources Ltd [3][4] - The project is characterized by high-grade volcanogenic massive sulphide (VMS) deposits and has a significant mining history, with multiple copper-rich occurrences [4] Drilling Program Details - The winter 2025 drilling program utilized frozen ground for easier access and reduced environmental impact, focusing on new near-surface areas away from historical resources [1][2] - The program tested combined geophysical (VTEM) and geochemical targets, with three holes exploring new areas [2] - Previous drilling in 2023 and 2024 intersected high-grade copper and gold, with notable results including 6.49 meters at 1.82% Cu and 0.74 g/t Au [4] Ownership and Financial Aspects - Completion of the drilling program fulfills the requirements for T2 Metals to own 90% of the Sherridon project, with no further expenditure commitments under the Option Agreement [3] - Halo Resources Ltd has the option to fund pro-rata or convert to a 1.5% net smelter royalty, which T2 Metals can purchase for C$2,000,000 at any time [3] Support and Collaboration - The winter drilling program was supported by the Kiciwapa Cree First Nation and co-funded by the Manitoba Mineral Development Fund [5]