TORONTO, July 02, 2025 (GLOBE NEWSWIRE) -- Pasinex Resources Limited (CSE: PSE) (FSE: PNX) ("Pasinex" or the "Company") today announced financial results for the year ended December 31, 2024, and the first quarter ended March 31, 2025. The financial statements, management's discussion and analysis (MD&A), and related certifications are available on SEDAR+. The Company also announced that effective June 27, 2025, its principal regulator, the British Columbia Securities Commission ("BCSC"), has revoked its fa ...

First U.S.-Sourced and Processed Natural Graphite Since 1956 to Support National Security and Supply Chain Resilience VANCOUVER, British Columbia, May 20, 2025 (GLOBE NEWSWIRE) -- Titan Mining Corporation (TSX: TI, OTCQB: TIMCF) ("Titan" or the "Company") is pleased to announce the launch of construction of its fully permitted commercial demonstration facility (the "Facility") for natural flake graphite, co-located at its Empire State Mine ("ESM") in St. Lawrence County, New York. This milestone will enable ...

Core Viewpoint - Pasinex Resources Limited has received a Failure to File Cease Trade Order from the British Columbia Securities Commission due to delays in filing its audited annual consolidated financial statements for the year ended December 31, 2024 [1][2] Group 1: Regulatory Actions - The Failure to File Cease Trade Order (FFCTO) prohibits trading of the Company's securities in Canada, including common shares on the Canadian Securities Exchange [1] - The FFCTO was issued because the Required Documents, including the audited financial statements and Management's Discussion and Analysis, were due by April 30, 2025, but were not filed on time [2] Group 2: Reasons for Delay - The delay in filing is attributed to internal changes, including the resignation of the Chief Financial Officer in late 2024 and the appointment of a new auditor and CFO in early 2025 [3] - Changes in leadership and component auditors at Pasinex AŞ, the Company's Turkish subsidiary, have also contributed to the delays in completing the audit [3] Group 3: Company Response - The Company is actively working with its accounting staff and external auditors to complete the audit and expects to file the Required Documents shortly [4] - The FFCTO will remain in effect until the Required Documents are filed, and the Company has confirmed that the order will be lifted promptly upon completion of these filings [4] Group 4: Company Overview - Pasinex Resources Limited is focused on developing a profitable zinc mining operation, with high-grade zinc deposits in Türkiye (25% to 50% zinc) and Nevada (14% to 24% zinc) [5] - Over the past decade, the joint venture in Türkiye has produced over 160 million pounds of zinc, generating more than $125 million CAD in sales from mining over 200,000 tonnes of ore with grades between 30% and 50% zinc [5] - The Company is advancing high-grade zinc properties, such as Sarikaya, and holds a 51% interest in the Gunman Project in Nevada [5]

Financial Performance - Nexa Resources reported a net income of US$29 million in 1Q25, reversing a net loss of US$12 million in 1Q24 and US$111 million in 4Q24, reflecting improved operating income and favorable foreign exchange impacts [2][3] - Adjusted EBITDA for 1Q25 was US$125 million, slightly down from US$128 million in 1Q24 and US$197 million in 4Q24, primarily due to higher costs and lower smelting sales volume [3] - Net revenues in 1Q25 were US$627 million, an 8% increase from US$580 million in 1Q24, driven by higher LME metal prices for zinc and copper, despite lower smelting sales volume [4] Operational Challenges - The company faced operational challenges due to atypical rainfall in Pasco and extreme precipitation in Aripuanã, impacting production stability [3][8] - Treated ore volume in the mining segment decreased by 10% year-over-year and 9% quarter-over-quarter, reflecting operational difficulties across multiple sites [7] - Zinc production in 1Q25 totaled 67kt, down 23% from 1Q24, primarily due to lower output across all units except Atacocha [10] Capital Expenditure and Strategy - CAPEX in 1Q25 totaled US$50 million, focused on sustaining investments, with full-year guidance remaining unchanged at US$347 million [5] - Nexa executed a US$500 million bond issuance in early April 2025 as part of a liability management strategy to extend debt maturity and optimize capital structure [6] - The company is advancing the Cerro Pasco Integration Project, aimed at improving operational efficiency and extending the life of the mining complex, with construction expected to begin in 2Q25 [15] Production and Sales - Zinc metal and oxide production totaled 133kt in 1Q25, representing a 4% decrease year-over-year and 12% compared to 4Q24 [12] - Zinc metal and oxide sales reached 130kt in the quarter, down 6% from 1Q24 and 14% from 4Q24, primarily due to lower production volumes [13] - Copper production in 1Q25 totaled 8kt, up 2% year-over-year, while lead production decreased by 31% year-over-year [11] ESG and Corporate Highlights - Nexa introduced its first fleet of hybrid loaders for underground mining in Peru, supporting its decarbonization strategy [16] - The company published its 2024 Annual Sustainability Report, highlighting environmental, social, and financial achievements [19] - Moody's affirmed Nexa's 'Ba2' rating and revised the outlook from 'negative' to 'stable', while S&P reaffirmed its 'BBB-' investment grade rating with a stable outlook [19]