Ngex Minerals Ltd. ( (NGXXF) ) has released its Q1 earnings. Here is a breakdown of the information Ngex Minerals Ltd. presented to its investors.
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NGEx Minerals Ltd. is a mineral exploration company focused on copper-gold and gold projects in Argentina and Chile, aiming to enhance shareholder value through strategic exploration and development. In its first quarter of 2025, the company reported significant progress in its Phase 3 drilling program at the Lunahuasi project, achieving over 25,000 meters of drilling and discovering high-grade mineralization. Key financial highlights include a net loss of $35.1 million, primarily driven by increased exploration costs, reflecting the expanded drilling activities. The company maintains a strong cash position with $124.2 million in cash and $45.6 million in short-term investments as of March 31, 2025. Looking ahead, NGEx Minerals plans to continue its exploration efforts at Lunahuasi, with a Phase 4 program anticipated to start in October 2025, as it seeks to further define and expand its mineral resources.