The following tables present consolidated selected financial and operating results of the Company for the three months ended March 31, 2025, and 2024:
| · · · · · · |
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| · · Three months ended March 31, |
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| · · 2025 · 2024 |
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| · · (in thousands, except per share) |
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| Revenue from gold and silver sales (1) | | $35,696 | | $41,228 |
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| Production costs applicable to sales (1) | | $(19,605) | | $(25,110) |
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| Gross profit (1) | | $10,070 | | $6,011 |
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| Adjusted EBITDA (2) | | $8,709 | | $6,322 |
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| Adjusted EBITDA per share (2) | | $0.16 | | $0.13 |
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| Net loss | | $(6,270) | | $(20,383) |
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| Net loss per share | | $(0.12) | | $(0.41) |
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| Cash from (used) in operating activities | | $(1,932) | | $3,881 |
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| Additions to mineral property interests and plant and equipment | | $14,534 | | $4,522 |
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| (1) | Excludes results from the San José mine, which is accounted for under the equity method. |
| (2) | This is a Non-GAAP financial performance measure. See “Non-GAAP Financial Performance Measures” beginning on page 34. |
| · · · · · · |
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| · · |
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| | | March 31, 2025 | | December 31, 2024 |
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| · · (in thousands, unless otherwise indicated) |
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| Cash and cash equivalents | | $68,510 | | $13,692 |
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| Current assets | | $106,399 | | $41,192 |
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| Current liabilities | | $45,255 | | $47,693 |
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| Long-term debt | | $125,528 | | $40,000 |
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| | | | | | | |
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| · · Three months ended March 31, |
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| · · 2025 · 2024 |
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| · · |
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| GEOs produced (1) | | | 24,132 | | | 33,037 |
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| 100% owned operations | | | 13,208 | | | 20,104 |
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| San José mine (49% attributable) | | | 10,924 | | | 12,934 |
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| GEOs sold (1) | | | 23,804 | | | 34,407 |
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| 100% owned operations | | | 13,036 | | | 19,804 |
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| San José mine (49% attributable) | | | 10,769 | | | 14,603 |
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| Average realized price ($/GEO) (2)(3) | | | $2,803 | | | $2,131 |
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| P.M. Fix Gold ($/oz) | | | $2,860 | | | $2,070 |
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| Cash costs per ounce ($/GEO sold) (2) | | | | | | |
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| 100% owned operations | | | $1,504 | | | $1,268 |
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| San José mine (49% attributable) | | | $2,575 | | | $1,607 |
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| AISC per ounce ($/GEO sold) (2) | | | | | | |
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| 100% owned operations | | | $2,318 | | | $1,481 |
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| San José mine (49% attributable) | | | $3,047 | | | $1,947 |
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| Gold : Silver ratio (1) | | | 90 : 1 | | | 89 : 1 |
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| (1) | Silver production is presented as a gold equivalent with a gold : silver ratio of 90 : 1 for Q1/25 and 89 : 1 for Q1/24. |
| (2) | This is a Non-GAAP financial performance measure. See “Non-GAAP Financial Performance Measures” beginning on page 34. |
| (3) | On sales from 100% owned operations only, excluding sales from our streaming arrangement at the Fox Complex. |
