TORONTO, ON / ACCESS Newswire / August 11, 2025 / PPX Mining Corp. (TSX.V:PPX)(BVL:PPX) (the "Company" or "PPX") is pleased to announce strong operational results for the month of June 2025 and provide a summary of year-to-date performance at its Callanquitas Mine located at the Igor Project in northern Peru.
Through its mining partner, Proyectos La Patagonia S.A.C. ("PLP"), the Callanquitas operation generated record gross revenues for calendar 2025 of PEN 11.62 million and pre-tax income of PEN 5.14 million in June alone. As a result, PPX, through its Peruvian subsidiary, received a Net Profit Interest ("NPI") payment of PEN 3.9 million for this month - marking the strongest monthly performance in calendar 2025 and in the previous 12 months.
Cumulative NPI for the 2025 calendar year through June has reached PEN 5.10 million, highlighting the robust cash-generating potential of the Igor Project.
These positive financial results were driven by favorable gold and silver prices, despite elevated operating costs related to selective high-grade mining, high transportation expenses, and reliance on third-party processing facilities. The Company expects a substantial reduction in these costs once its own CIL and flotation plant - currently under construction - begins operations. The operation also overcame logistical and operational challenges caused by a particularly intense rainy season during the first quarter of the year.
From a production standpoint, a total of 21,584 tonnes of ore have been mined year-to-date, averaging 133 tonnes per day. The average gold equivalent grade during the period was 6.77 g/t (gold 6.49 g/t and silver 41.6 g/t), resulting in the extraction of 3,690 gold equivalent ounces to date with an average gold price of US$ 3,100.29 and an average silver price of US$ 32.50.
PPX expects continued strong operational and financial performance for the remainder of 2025, as the Company advances its strategy to expand production capacity and optimize operating margins.
John Thomas, Chief Executive Officer of PPX Mining Corp., commented - "We are very pleased to report such strong results, which reflect operational discipline and a growing understanding of the underground structure at Callanquitas. As our geological knowledge improves through ongoing exploration activities, we are increasingly able to mine more efficiently and plan for scalable growth. Once our CIL and flotation plant becomes operational, we anticipate an increase in production volumes by eliminating the need for selective mining - lowering mining costs, substantially reducing transportation expenses and eliminating third-party processing charges."
All scientific and technical information in this press release has been reviewed and approved by John Thomas, P. Eng., who is the CEO of the Company and a qualified person under the definitions established by National Instrument 43-101.
On behalf of the Board of Directors
John Thomas
Chief Executive Officer
82 Richmond Street East
Toronto, Ontario M5C 1P1
Canada
416-361-0737
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement:
This press release contains forward-looking information and forward-looking statements (collectively, "forward-looking statements") as such terms are defined by applicable securities laws, including, but not limited to statements regarding test results, future plans or management estimates. Forward-looking statements are statements that relate to future events. In this context, forward-looking statements often address expected future business and financial performance and often contain words such as "anticipate," "believe," "plan," "estimate," "expect," and "intend,", statements that an action or event "may," "might," "could," "should," or "will" be taken or occur, or other similar expressions. Forward-looking statements are subject to a number of known and unknown risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control, and the Company's actual results could differ materially from those stated or implied in forward-looking statements due to many various factors. Such uncertainties and risks include, among others, delays in obtaining or inability to obtain required regulatory approvals in connection with this transaction. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or occur. The timing of events and circumstances and actual results could differ materially from those projected in the forward-looking statements. Accordingly, one should not place undue reliance on forward- looking statements. All forward-looking statements contained in this press release are made as of today's date, and the Company undertakes no obligation to update or publicly revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law.
SOURCE: PPX Mining Corp.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/ppx-mining-reports-strong-operational-results-for-june-2025-1058676
