Mako Mining Corp. reported high-grade gold and silver results from its RC drill program at Las Conchitas, Nicaragua. Highlights include 117.98 g/t Au over 2.0 m at Cruz Grande/El Limon, 29.57 g/t Au over 3.0 m at Mina Francisco, and 24.95 g/t Au over 4.0 m at Bayacun. The program aims to expand open-pit and underground mining potential.
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 reported record first-quarter 2025 financial results, including $5.6 M net income, $18.8 M revenue (up 52 %), and $10.6 M gross profit. Production of 678,458 silver equivalent ounces rose 8%, with gains in gold, copper and silver output, and working capital reached $31.3 M, highlighting strong operations and cost improvements.
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 closed an oversubscribed non-brokered private placement on May 13, 2025, raising C$3.6M (upsized from C$3M) via 20M units at C$0.18 each. Each unit: 1 share + 0.5 warrant (C$0.24 exercise, 3 years). Proceeds fund exploration at Tombstone and Cervantes projects plus working capital.
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.
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