Discovery Silver Corp. acquired the Porcupine Complex, establishing itself as a Canadian gold producer, while advancing its Cordero silver project in Mexico. Q1 2025 reported a $9.3 million net loss, with $250 million in cash for growth. Cordero’s land acquisition was completed in March 2025. A limited work program continues, focusing on engineering, permitting, and community outreach to advance and de-risk the project.
Avino Silver & Gold Mines Ltd. reported record Q1 2025 financials, with $5.6M net income ($0.04/share), $18.8M revenue (up 52%), and $10.6M gross profit (up 352%). EBITDA reached $9.7M, and working capital hit $31.3M. Production rose 8% to 678,458 AgEq ounces. La Preciosa development progressed, with capital expenditures at $2.3M. Cash costs dropped 15% to $12.62/oz.
Empress Royalty Corp. reported a 2.8x revenue increase for Q1 2025, with royalty and stream revenue of $2.74M and total revenue of $1.85M. The company achieved positive operating cash flow of $1.75M, adjusted EBITDA of $1.39M, and net income of $0.44M, compared to a $0.53M loss in Q1 2024.
Odyssey Marine Exploration, Inc. (NASDAQ: OMEX) reported Q1 2025 results, regaining Nasdaq compliance with a $1.00+ bid price for ten days. Investors injected over $2M since April 29 via stock purchase options and warrants. The U.S. Executive Order on Offshore Critical Minerals aligns with Odyssey’s global projects, positioning it to address mineral supply challenges.
Gold Resource Corporation reported Q1 2025 results for its Don David Gold Mine, producing 3,394 AuEq ounces (859 gold, 230,320 silver). A net loss of $8.3M ($0.07/share) was driven by lower production due to aging equipment and limited production zones. Cash costs were $2,494/AuEq oz, AISC $3,252/AuEq oz. The company raised $15.0M to fund Three Sisters development.
Aztec Minerals Corp. closed an oversubscribed private placement, raising CAD$3.6 million by issuing 20,000,000 units at CAD$0.18 each, upsized from CAD$3.0 million due to strong investor interest. Each unit includes one common share and half a warrant, exercisable at CAD$0.24 for three years. Crescat Capital LLC, a strategic institutional shareholder, participated. Proceeds will fund exploration at the Tombstone and Cervantes projects and general working capital. Insiders subscribed for CAD$81,000, with securities subject to a four-month hold period.
Endeavour Silver Corp. reported Q1 2025 results with 1.9M oz silver equivalent produced, $63.5M revenue, and $8.3M mine operating cash flow. Higher realized prices ($31.99/oz silver, $2,903/oz gold) offset lower production. Cash costs were $15.89/oz, AISC $24.48/oz. Liquidity remained strong at $64.7M cash. The company acquired Minera Kolpa and closed a $50M equity financing.
Fortuna Mining Corp. completed the sale of its Burkina Faso subsidiaries, including the Yaramoko Mine, to Soleil Resources for $70M, receiving a $53.8M dividend. The divestiture, amid a challenging security landscape, boosts Fortuna’s cash to over $380M. Updated 2025 guidance lowers gold equivalent production to 309,000-339,000 ounces, with AISC rising to $1,670-$1,765 per GEO.
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