Successful Ramp-Up of New Plant
The new plant was built on budget and commissioned on time. It reached nameplate capacity within a couple of weeks and is now operating above nameplate capacity.
Increased Gold Production
Gold production increased significantly to 1,069,000 ounces, exceeding previous quarters.
Strong Liquidity Position
With $37 million in cash and restricted cash, $11 million in accounts receivable, and a new $25 million credit facility, the company's liquidity is very strong.
Exploration Success at Boumadine
Completed 46,000 meters of drilling in Q1, adding 100 million ounces of silver equivalent to the mineral resource.
Positive Financial Performance
Record revenue of $33 million, with a net income of nearly $7 million and operating cash flow of $7.9 million for Q1 2025.
High Plant Availability and Throughput
The plant's throughput exceeds nameplate capacity, and mill availability is in the high 90s.