Strong EBITDA Performance
First quarter 2025 EBITDA from direct operations was $126 million, up from $95 million in the first quarter of 2024, reflecting a higher EBITDA margin of 41% compared to 38% the previous year.
Significant Increase in Net Income
First quarter 2025 net income was $140 million, significantly higher than the $61 million reported in the first quarter of 2024.
Increase in Silver Production
Silver production reached 3.7 million ounces in the first quarter of 2025, a 20% increase compared to 3.1 million ounces in the same period last year.
Growth in Reserves
Gold reserves increased by 482,000 ounces, silver reserves by 61 million ounces, and copper reserves by 253,000 tonnes.
Decrease in All-In Sustaining Cost
The all-in sustaining cost for the first quarter of 2025 decreased by 83% year-over-year, driven by lower commercial deductions and higher byproduct credits.
Progress in San Gabriel Project
San Gabriel reached 79% overall completion by the first quarter of 2025, with construction on schedule and expected to produce its first gold bar in the fourth quarter of 2025.