Canuc Resources Corporation completed its acquisition of Macdonald Mines Exploration Ltd., acquiring all Macdonald Mines shares by issuing 73,768,343 Canuc shares at an exchange ratio of 1.497 Canuc shares per Macdonald Mines share. The deal, pending final TSXV approval, makes Macdonald Mines a wholly owned Canuc subsidiary, integrating the 19,710-hectare SPJ Project in Sudbury, Ontario, with Canuc’s San Javier Silver-Gold Project in Mexico. The acquisition aims to leverage synergies for new discoveries and cash flow from mine tailings.

MAG Silver Corp. reported a record net income of $28.7 million ($0.28 per share) for Q1 2025, driven by strong Juanicipio performance. Juanicipio processed 337,017 tonnes of ore, achieving 96% silver recovery and producing 4.5 million silver ounces. MAG received $61.5 million from Juanicipio, including a $59.4 million dividend. The company declared a $0.20 per share dividend, payable May 28, 2025.

MAG Silver Corp. declared a total dividend of $0.20 per share, comprising a fixed $0.02 per share and a cash flow-linked $0.18 per share (about 30% of $61.5 million from Juanicipio), payable on May 28, 2025, to shareholders of record as of May 19, 2025. The dividend is an “eligible dividend” under Canada’s Income Tax Act, subject to withholding taxes for non-residents. Future dividends depend on Board approval, financial position, and other factors.

Pan American Silver Corp. (May 7, 2025) reported results from its Annual General and Special Meeting held the same day in Vancouver. Shareholders approved fixing the board at nine directors (99.51% for), elected all nominees, appointed Deloitte LLP as auditors (89.98% for), and advisory say-on-pay (95.38% for). All resolutions passed strongly.

Equinox Gold reported a record Q1 2025, producing ~145,000 oz of gold and generating $423.7 M in revenue, up 76 % year-over-year. Despite higher income from operations, the company posted a $75.5 M net loss and $36.6 M adjusted net loss due to finance costs and other expenses. Adjusted EBITDA was $137.9 M. Operations at Los Filos were indefinitely suspended.

First Majestic Silver reported Q1 2025 financial results with a record cash and liquidity position (~US $462.6 M in cash), record revenue and cash flow, and strong production gains. The company also declared a quarterly dividend to shareholders, reflecting confidence in its financial strength and performance.

Fortuna Mining Corp. reported a record $111.3 million in free cash flow for Q1 2025, up 30% from Q4 2024, with a 38% margin. Attributable net income was $61.7 million ($0.20/share). Gold equivalent production reached 103,459 ounces, with lower cash costs ($929/GEO) and AISC ($1,640/GEO). The company divested the San Jose Mine and plans to sell Yaramoko, redirecting capital to high-value opportunities.

Torex Gold reported Q1 2025 results, with its Morelos Complex in Mexico achieving 59,630 oz AuEq payable production, aligning with expectations despite a four-week plant shutdown. The Media Luna Project reached commercial production, with first concentrate shipments in April. Revenue was $170 million, driven by a record $2,793/oz gold price. All-in sustaining costs were $1,405/oz AuEq, with a 50% margin. The company drew $130 million on its credit facility due to high tax/royalty payments and Media Luna capital expenditures but expects positive free cash flow by mid-2025 as production ramps up.