Record Production and Financial Performance
The company achieved a strong gold production of nearly 46,000 ounces, a 37% increase over the same quarter in 2024. Revenue increased 86% year-over-year to C$198 million, driven by significantly higher production and a 38% increase in the average realized gold price per ounce sold. Net income increased almost five times over the prior year to over C$62 million.
Improvements in Health and Safety
The total recordable incident frequency rate reached its lowest level in more than four years, demonstrating successful efforts in building a safety culture.
Strategic Acquisition to Enhance Exploration
The acquisition of Angus Gold is expected to close by the end of June, quadrupling the prospective land positions around Eagle River to roughly 400 square kilometers.
Strong Financial Position
The company increased its liquidity to C$318 million, with C$168 million in cash and C$150 million of undrawn capacity on its revolver. The balance sheet is clean with zero debt.