Record Net Earnings
Highest net earnings in more than 10 years, with net earnings for fiscal 2025 at $7.5 million compared to a net loss of $2.4 million in fiscal 2024.
Revenue Growth
Fiscal 2025 revenue of $189 million, marking an increase of 4.3% compared to fiscal 2024. The fourth quarter revenue grew by 3.9% compared to Q4 last year.
Improved Gross Margin
Adjusted gross margin for fiscal 2025 was 19.5%, up from 15.9% in fiscal 2024, attributed to higher revenue per meter drilled in Canada and increased drilling activity in South America.
Debt Reduction
Net repayment of $7.5 million on the credit facility in fiscal 2025, reducing long-term debt to $14.0 million from $21.5 million at the end of fiscal 2024.
Favorable Market Conditions
Strong demand due to high gold and copper prices, with 60% of revenue generated from gold drilling operations.