The following tables present consolidated selected financial and operating results of the Company for the three and six months ended June 30, 2025, and 2024:
| · · · · · · · · · · · · · |
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| · · Three months ended June 30, · · Six months ended June 30, · |
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| · · 2025 · 2024 · 2025 · 2024 |
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| · · (in thousands, except per share) · |
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| Revenue from gold and silver sales (1) | | $46,700 | | $47,476 | | $82,396 | | $88,704 | |
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| Production costs applicable to sales (1) | | $(27,733) | | $(32,066) | | $(47,338) | | $(57,176) | |
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| Gross profit (1) | | $12,281 | | $10,758 | | $22,351 | | $16,769 | |
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| Adjusted EBITDA (2) | | $17,309 | | $7,227 | | $26,018 | | $13,550 | |
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| Adjusted EBITDA per share (2) | | $0.32 | | $0.15 | | $0.49 | | $0.27 | |
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| Net income (loss) | | $3,040 | | $(12,995) | | $(3,230) | | $(33,378) | |
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| Net income (loss) per share | | $0.06 | | $(0.26) | | $(0.06) | | $(0.67) | |
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| Cash from (used in) operating activities | | $478 | | $2,507 | | $(1,454) | | $7,487 | |
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| Additions to mineral property interests and plant and equipment | | $9,649 | | $6,684 | | $24,183 | | $11,206 | |
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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 37. |
| · · · · · · |
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| · · |
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| | | June 30, 2025 | | December 31, 2024 |
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| · · (in thousands, unless otherwise indicated) |
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| Cash and cash equivalents | | $53,554 | | $13,692 |
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| Current assets | | $107,668 | | $41,192 |
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| Current liabilities | | $45,851 | | $47,693 |
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| Long-term debt | | $125,772 | | $40,000 |
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| | | | | | | | | | | | | | |
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| · · Three months ended June 30, · · Six months ended June 30, · |
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| · · 2025 · 2024 · 2025 · 2024 |
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| · · · |
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| GEOs produced (1) | | | 27,554 | | | 35,265 | | | 51,685 | | | 68,320 | |
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| 100% owned operations | | | 13,835 | | | 20,594 | | | 27,042 | | | 40,715 | |
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| San José mine (49% attributable) | | | 13,719 | | | 14,672 | | | 24,643 | | | 27,605 | |
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| GEOs sold (1) | | | 28,039 | | | 35,182 | | | 51,854 | | | 69,589 | |
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| 100% owned operations | | | 14,549 | | | 20,630 | | | 27,596 | | | 40,434 | |
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| San José mine (49% attributable) | | | 13,490 | | | 14,553 | | | 24,258 | | | 29,156 | |
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| Average realized price ($/GEO) (2)(3) | | | $3,298 | | | $2,355 | | | $3,062 | | | $2,246 | |
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| P.M. Fix Gold ($/oz) | | | $3,281 | | | $2,338 | | | $3,069 | | | $2,203 | |
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| Cash costs per ounce ($/GEO sold) (2) | | | | | | | | | | | | | |
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| 100% owned operations | | | $1,906 | | | $1,554 | | | $1,715 | | | $1,414 | |
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| San José mine (49% attributable) | | | $2,310 | | | $1,624 | | | $2,428 | | | $1,615 | |
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| AISC per ounce ($/GEO sold) (2) | | | | | | | | | | | | | |
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| 100% owned operations | | | $2,120 | | | $1,728 | | | $2,210 | | | $1,592 | |
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| San José mine (49% attributable) | | | $2,842 | | | $2,032 | | | $2,933 | | | $1,978 | |
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| Gold : Silver ratio (1) | | | 99 : 1 | | | 81 : 1 | | | 94 : 1 | | | 85 : 1 | |
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| (1) | Silver production is presented as a gold equivalent with a gold : silver ratio of 99 : 1 for Q2/25 and 81 : 1 for Q2/24. |
| (2) | This is a Non-GAAP financial performance measure. See “Non-GAAP Financial Performance Measures” beginning on page 37. |
| (3) | On sales from 100% owned operations only, excluding sales from our streaming arrangement at the Fox Complex. |
