Imperial Metals Corporation reported strong financial results for the three and six months ended June 30, 2025. Total revenue for the June 2025 quarter was $175.8 million, up from $131.7 million in the same quarter of 2024. The company achieved consolidated production totaling 32,381,617 pounds copper and 34,968 ounces gold in the first half of 2025.
In the June 2025 quarter, the Red Chris mine had 5 concentrate shipments, while the Mount Polley mine had 1.9 concentrate shipments. Revenue variations are impacted by concentrate shipments, metal prices, exchange rates, and revenue revaluations. The average copper price in the June 2025 quarter was CDN$5.98 per pound, and the gold price was CDN$4,540 per ounce.
Net income for the June 2024 quarter was $40.6 million, up from $20.4 million in the same quarter of 2024. Capital expenditures, including leases, were $64.1 million in the June 2025 quarter. Imperial had not hedged any copper, gold, or US/CDN Dollar exchange as of June 30, 2025. During the quarter, Imperial’s consolidated metal production was 16,539,280 pounds copper and 17,848 ounces gold.
At the Red Chris mine, production for the second quarter of 2025 was 23,479,231 pounds copper and 22,624 ounces gold. Copper production was up 13% compared to the second quarter of 2024, with improved grades offsetting lower throughput. For the first half of 2025, copper production at Red Chris was up 25% compared to the same period last year.
Imperial’s Red Chris Block Cave Feasibility Study is progressing, with development work underway. Huckleberry mine remains on care and maintenance, with work focused on site maintenance and infrastructure. Cash earnings for the June 2025 quarter were $97.7 million, up from $53.1 million in the same quarter of 2024.
Imperial’s non-GAAP financial measures include adjusted net income, adjusted EBITDA, cash earnings, and cash cost per pound of copper produced. Adjusted net income for the June 2025 quarter was $40.6 million. Adjusted EBITDA was $99.5 million, and cash earnings were $97.7 million. Cash cost per pound of copper produced was $(0.33) for the June 2025 quarter.
These non-GAAP financial measures help investors understand the company’s financial performance. Imperial believes that presenting adjusted net income, adjusted EBITDA, cash earnings, and cash cost per pound of copper provides valuable information to investors. Management uses these measures to monitor operating costs and profitability. Investors can find detailed information in Imperial’s 2025 Second Quarter Management’s Discussion and Analysis.
Read more at GlobeNewswire: Imperial Reports Second Quarter 2025 Financial Results