Month: May 2025

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.

Pan American Silver’s $2.1B acquisition of MAG Silver, targeting a 44% stake in the Juanicipio mine, has sparked a 14% stock drop due to dilution concerns from issuing 60M shares. Despite a 21% premium for MAG shareholders, Mexico’s regulatory risks and economic uncertainty raise skepticism. The deal aims to boost silver production but faces shareholder and antitrust hurdles.

Alpayana S.A.C. has acquired 70.74% of Sierra Metals’ shares at C$1.15 per share, meeting the minimum tender condition. The offer is extended to May 23, 2025, for remaining shareholders to tender. Alpayana plans to privatize Sierra and launch a tender for Corona shares, urging shareholders to act promptly.

Prime Mining Corp. reported Q1 2025 results for its Los Reyes Gold-Silver Project, with a $3.6M loss ($0.02/share) and $18M cash. Exploration highlights include high-grade intercepts at Z-T, Central, and Fresnillo trends. A 40,000m drill program is planned, paused due to security concerns. The company advances technical studies for a Preliminary Economic Assessment.

Minaurum Gold Inc. has engaged Capital Analytica and National Inflation Association for marketing and communications services, effective May 12, 2025. Capital will receive $60,000 for a 3-month term, providing social media and marketing support. NIA will receive US$30,000 for a 3-month term, focusing on email and online distribution. Both agreements are arm’s length, subject to TSX Venture Exchange approval, and renewable.