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Highlights

  • Imperial Metals posted Q2 2025 revenue of CAD 175.8 million, up from CAD 131.7 million a year earlier.
  • Net income rose to CAD 40.6 million, driven by higher gold production and prices.
  • Adjusted EBITDA increased to CAD 99.5 million from CAD 54.0 million in the prior-year quarter.

Imperial Metals Corporation (TSX:III) reported second quarter 2025 revenue of CAD 175.8 million, an increase from CAD 131.7 million in the same period of 2024. The improvement was influenced by higher gold production, higher gold prices, and the timing and quantity of concentrate shipments from its Mount Polley and Red Chris mines.

The company’s consolidated production for the quarter ended June 30, 2025, was 16.54 million pounds of copper and 17,848 ounces of gold. At Mount Polley, production reached 9.50 million pounds of copper and 11,061 ounces of gold, while Imperial’s 30% share of Red Chris contributed 7.04 million pounds of copper and 6,787 ounces of gold. Both copper and gold output were up 4% compared to the first quarter of 2025.

Average copper prices during the quarter were USD 4.32 per pound (CAD 5.98), slightly below USD 4.42 per pound (CAD 6.05) in the same quarter of 2024. Gold averaged USD 3,280 per ounce (CAD 4,540), up from USD 2,338 per ounce (CAD 3,199) a year earlier. The average US/CAD exchange rate was 1.384, compared to 1.368 in Q2 2024.

Net income for the quarter was CAD 40.6 million, or CAD 0.25 per share, compared with CAD 20.4 million, or CAD 0.13 per share, in the 2024 comparative quarter. The increase was mainly due to higher income from mine operations, which rose from CAD 39.0 million to CAD 81.3 million, partly offset by higher income and mining tax expenses, which increased from CAD 7.7 million to CAD 26.5 million.

Adjusted net income was CAD 40.6 million, compared with CAD 20.3 million in Q2 2024. Adjusted EBITDA increased to CAD 99.5 million from CAD 54.0 million, reflecting operational performance and higher metal prices. Cash earnings were CAD 97.7 million, or CAD 0.60 per share, up from CAD 53.1 million, or CAD 0.33 per share, in the prior year's quarter.

Capital expenditures totaled CAD 64.1 million, up from CAD 55.9 million in the prior-year period, and included CAD 20.4 million in exploration and development, CAD 17.4 million for tailings dam construction, CAD 14.8 million in stripping costs, and CAD 11.5 million in other capital spending.