Latest news with #ImperialMetalsCorporation
Hamilton Spectator
24-07-2025
- Business
- Hamilton Spectator
Imperial Reports Fall of Ground Incident at Red Chris Mine
VANCOUVER, British Columbia, July 23, 2025 (GLOBE NEWSWIRE) — Imperial Metals Corporation ('Imperial' or the 'Company') (TSX:III) reports that on July 22, two fall of ground incidents occurred in the access way to an underground work area of a non-producing project at the Red Chris Mine in British Columbia, Canada. Imperial holds a 30% interest in the Red Chris copper-gold mine. At the time of the initial incident, three contractor employees were working more than 500 metres beyond the affected zone and were asked to relocate to a designated refuge station before a subsequent fall of ground blocked the access way. Following the first event, contact was established with the individuals and confirmation was received that they had safely relocated to one of multiple self-contained refuge bays. The refuge stations are equipped with adequate food, water and ventilation to support an extended stay. The second fall of ground event subsequently restricted communication. To ensure focus on the response efforts, a standdown of operations at Red Chris has been implemented. With the support of industry, specialist teams from nearby mine sites are being assembled to respond to the situation. All appropriate emergency response protocols were activated immediately. Newmont, the mine operator, is actively assessing all methods and technologies available to restore communication and safely bring the workers to surface. The priority remains on ensuring the safety of the three individuals and of the emergency response teams supporting this effort. Further updates will be provided as more information becomes available. About Imperial Imperial is a Vancouver based exploration, mine development and operating company with holdings that include the Mount Polley mine (100%), the Huckleberry mine (100%), and the Red Chris mine (30%). Imperial also holds a portfolio of 23 exploration properties in British Columbia. Company Contacts Brian Kynoch | President | 604.669.8959 Darb S. Dhillon | Chief Financial Officer | 604.669.8959 Cautionary Note Regarding Forward-Looking Statements Certain information contained in this news release are not statements of historical fact and are 'forward-looking' statements. Forward-looking statements relate to future events or future performance and reflect Imperial management's expectations or beliefs regarding future events and include, but are not limited to, statements regarding efforts to assemble specialist teams from nearby mine sites to respond to the situation; the ongoing assessment of all methods and technologies available to restore communication and safely bring the workers to the surface; and the provision of future updates as more information becomes available. Other than as disclosed above, Imperial disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except as otherwise required by applicable securities legislation. In certain cases, forward-looking statements can be identified by the use of words such as 'plans', 'expects' or 'does not expect', 'is expected', 'outlook', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved' or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Imperial to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In making the forward-looking statements in this news release, Imperial has applied certain factors and assumptions that are based on information currently available to Imperial as well as Imperial's current beliefs and assumptions. These factors and assumptions and beliefs and assumptions include, the risk factors detailed from time to time in Imperial's current annual information form, interim and annual financial statements and management's discussion and analysis of those statements, all of which are filed and available for review on SEDAR+ at . Although Imperial has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended, many of which are beyond Imperial's ability to control or predict. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and all forward-looking statements in this news release are qualified by these cautionary statements.
National Observer
09-07-2025
- Politics
- National Observer
Ontario and Alberta collude to put profits ahead of Indigenous clean water rights
How do Ontario Premier Doug Ford and Alberta Premier Danielle Smith really feel about Indigenous rights? Look no further than last week's snub — a deplorable letter asking the federal government to bury the clean water act along with other environmental protections. The First Nations Clean Water Act or Bill C-61 was designed to mandate safe water supply in First Nation communities, but died on the order paper before April's federal election. Clean drinking water is a basic human necessity that — need we even say it? — almost all non-Indigenous people in Canada take for granted. The federal government pointed out that inequity in its rationale for the bill. 'Currently, First Nations communities do not have legally enforceable safe drinking water protections similar to what is in place in provinces and territories.' The bill, crafted in consultation with First Nations, aligns with the United Nations Declaration on the Rights of Indigenous Peoples and gives Indigenous communities rights-based regulatory power to protect their water supplies. Ontario and Alberta's objections to the bill were vague, stating only that it, like other environmental protection legislation, stands to 'undermine competitiveness, and delay project development.' The letter urging Ottawa to let the bill die is tone-deaf, given that Alberta is pushing for a new pipeline to the West Coast and Ontario is desperate to open up mining in the Northern Ring of Fire region. Both of these undertakings will disrupt Indigenous territories and Prime Minister Mark Carney has promised he won't sign off on any national projects without extensive consultation with Indigenous people. Collusion by the two provinces to advance their economic projects at the expense of a bill so close to the heart of Indigenous people is a disrespectful slap in the face to their prospective partners. You can bet the spectre of a law enshrining the right of First Nations to protect water sources, which could include some mighty long streams and rivers, is driving the opposition. It's easy to see how a First Nation in the watershed of a proposed Ring of Fire mine might worry about potential water contamination and leverage rights granted by the bill to make sure their concerns were addressed. There are precedents for mining disasters worldwide, including Canada. When BC's Mount Polley mine tailings pond gave way in 2014, water contaminated with mercury and heavy metals from the copper and gold mine surged through creeks into Polley and Quesnel lakes. The breach polluted salmon runs important to the Northern Secwepemc and Tsilqhot'in First Nations and it took an entire decade until fisheries charges were laid against Imperial Metals Corporation. Now the Xatśūll First Nation is back in court fighting a further raising of the same tailings dam that failed in 2014. There are also precedents for water pollution concerns scuttling past resource projects. The potential for a catastrophic oil spill expressed by coastal First Nations, environmentalists and others pressured Enbridge to abandon Northern Gateway and led to a moratorium on large tankers using the area's ports. This was not a bad thing — the Exxon Valdez spill off devastated the Alaska coast, wiping out birds and mammals and billions of salmon and herring eggs. Ontario and Alberta are colluding to quash the First Nations Clean Water Act. It's a terrible look for provinces seeking Indigenous resource development partners, @ writes. The letter from Alberta and Ontario implies none of this matters as much as rapid resource development. To her credit, federal Indigenous Services Minister Mandy Gull-Masty said the clean water act will be reintroduced in the fall. But the fact that Ontario and Alberta had the gall to try to quash the act doesn't bode well for cooperation they will soon be seeking from First Nations. Fears by First Nations about water pollution arising from resource development are well-founded. Take, for example, the many residents of Asubpeeschoseewagong and Wabaseemoong, formerly known as Whitedog First Nation, in Northern Ontario still grappling with the devastating effects of mercury poisoning from a nearby pulp mill. Consider also the Alberta First Nations living along the Athabasca River, downstream of the Fort McMurray oilsands operations. An Alberta Health survey in 2009 found elevated cancer rates among residents, yet it took until last year for the federal government to even commission a full health study. First Nations have every right to guard their water. Life without potable, running water is no picnic, as a resident of Pikangikum First Nation recently told my colleague Sonal Gupta. People living in this remote Ontario First Nation haul their water in buckets from a nearby lake, breaking through ice to get at it in the winter. 'Daily life is a very, very long day simply because people don't have a direct water source,' said Carolina Budiman, the community's senior health project manager. Pikangikum's water woes, like most of the 35 First Nation communities that still have long-term drinking water advisories, did not result from industrial pollution — their problem stems from a lack of functional water treatment infrastructure. But the clean water act would force the government to address their concerns, as it should. The timing of Ontario and Alberta's letter couldn't be worse. Partnering with First Nations on resource development is not just a matter of money. There is a big difference between dickering over the spoils of resource development and nation-building, which includes the right to clean water. One is just cash. The other is a basic human right.
Yahoo
12-05-2025
- Business
- Yahoo
Imperial Reports First Quarter 2025 Financial Results
VANCOUVER, British Columbia, May 12, 2025 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (the 'Company') (TSX:III) reports financial results for the three months ended March 31, 2025. QUARTER HIGHLIGHTS 'Imperial delivered solid operating and financial results for the first quarter of 2025', said Brian Kynoch, President. 'Consolidated production totalled 15,842,336 pounds copper and 17,120 ounces gold which was higher by 28% and 33% respectively, compared to the first quarter of 2024. Financially, we achieved strong operating cash flows of $68.3 million along with revenues of $176.6 million and adjusted EBITDA of $97.7 million.' FINANCIAL Total revenue was $176.6 million in the March 2025 quarter compared to $84.6 million in the 2024 comparative quarter. In the March 2025 quarter, Mount Polley mine had 1.9 concentrate shipments (2024-1.3 concentrate shipments). The Red Chris mine (100% basis) had 5.0 concentrate shipments (2024-4.0 concentrate shipments). Variations in revenue are impacted by the timing and quantity of concentrate shipments, metal prices and exchange rates, and period end revaluations of revenue attributed to concentrate shipments where copper and gold prices will settle at a future date. The London Metals Exchange cash settlement copper price per pound averaged US$4.24 in the March 2025 quarter compared to US$3.83 in the 2024 comparative quarter. The LBMA (London Bullion Market Association) Final and Initial gold price per troy ounce averaged US$2,862 in the March 2025 quarter compared to US$2,072 in the 2024 comparative quarter. The average US/CDN Dollar exchange rate was 1.435 in the March 2025 quarter, 6.4% higher than the exchange rate of 1.349 in the March 2024 quarter. In CDN Dollar terms the average copper price in the March 2025 quarter was CDN$6.08 per pound compared to CDN$5.17 per pound in the 2024 comparative quarter, and the average gold price in the March 2025 quarter was CDN$4,108 per ounce compared to CDN$2,795 per ounce in the 2024 comparative quarter. A positive revenue revaluation in the March 2025 quarter was $10.0 million as compared to a negative revenue revaluation of $0.2 million the 2024 comparative quarter. Revenue revaluations are the result of the metal price on the settlement date and/or the current period balance sheet date being higher or lower than when the revenue was initially recorded or the metal price at the last balance sheet date and finalization of contained metal as a result of final assays. Net income for the March 2025 quarter was $41.3 million ($0.26 income per share) compared to net loss of $9.2 million ($0.06 loss per share) in the 2024 comparative quarter. The increase in net income of $50.5 million was primarily due to the following factors: Income from mine operations increased to $78.3 million in the March 2025 quarter from a loss of $1.5 million in March 2024, an increase of $79.8 million; Idle mine cost increased to $2.2 million in March 2025 from $1.9 million in the March 2024 quarter; Net interest expense of $8.1 million in March 2025 down from $10.1 million in March 2024, increasing net income by $2.0 million; Tax recovery went from $6.6 million in March 2024 to tax expense of $23.3 million in March 2025, decreasing net income by $29.9 million. The average US/CDN Dollar exchange rate was higher by 6.4% in the March 2025 quarter of 1.435 compared to an average of 1.349 in the 2024 quarter. Capital expenditures including leases were $47.0 million in the March 2025 quarter, an increase of $10.8 million from $36.2 million in the 2024 comparative quarter. The March 2025 quarter expenditures included $15.4 million in exploration, $14.5 million on stripping costs, $9.7 million for tailings dam construction and $7.4 million of other capital. At March 31, 2025, the Company had not hedged any copper, gold or US/CDN Dollar exchange. Quarterly revenues will fluctuate depending on copper and gold prices, the US/CDN Dollar exchange rate, and the timing of concentrate sales, which is dependent on concentrate production and the availability and scheduling of transportation. OPERATIONS During the quarter ended March 31, 2025, Imperial's consolidated metal production was 15.84 million pounds copper (Q1 2024-12.35 million pounds copper) and 17,120 ounces gold (Q1 2024-12,861 ounces gold). Mount Polley Mine Mount Polley metal production for the first quarter of 2025 was 8,904,389 pounds copper and 10,621 ounces gold, compared to 7,355,191 pounds copper and 10,009 ounces gold produced during the first quarter of 2024. Mill throughput was up 3.0%, with 1.72 million tonnes being treated compared with 1.67 million tonnes treated in the first quarter of 2024. Copper production in the first quarter 2025 was up by 21.1% because of the increase in throughput and higher grade and recovery compared to first quarter of 2024. Gold production in the first quarter 2025 was up 6.1% with increased recovery and throughput offsetting lower gold grades compared to the first quarter 2024. Three Months EndedMarch 31 Three Months EndedMarch 31 2025 2024 Ore milled - tonnes 1,721,769 1,671,505 Ore milled per calendar day - tonnes 19,131 18,368 Grade % - copper 0.28 0.25 Grade g/t - gold 0.28 0.28 Recovery % - copper 83.3 79.4 Recovery % - gold 69.8 66.0 Copper - 000's pounds 8,904 7,355 Gold - ounces 10,621 10,009 Most of the mill feed for the first quarter of 2025 came from the material mined from near the bottom of the Phase 4 pit. Stripping for the Phase 5 pushback of the Springer pit continued with approximately 3,584,917 million tonnes of rock stripped from this pushback in the first quarter of 2025. Approximately 1,806,705 tonnes of non-acid generating rock from the Phase 5 stripping was hauled to the tailing facility to buttress the tailings storage embankment. In April 2025, the Xatśūll First Nation (Xatśūll) commenced a petition for judicial review seeking to set aside two decisions granted by the Ministry of Mining and Critical Minerals and the Minister of Environment and Parks pertaining to the Mount Polley Mine. Shortly afterward, Xatśūll filed an application seeking to stop work under those decisions until the judicial review is heard. No monetary relief is sought against Mount Polley Mining Corporation, but if successful, both the application and petition could result in increased costs to MPMC and could adversely affect mining operations. Exploration, development, and capital expenditures in the first quarter of 2025 were $27.2 million compared to $15.8 million in the 2024 comparative quarter. Red Chris Mine Red Chris production (100%) for the first quarter of 2025 was 23,126,491 pounds copper and 21,663 ounces gold compared to 16,660,225 pounds copper and 9,507 ounces gold during the same quarter of 2024. The 2025 first quarter Red Chris copper production was up 38.8% and gold production was up 127.9% compared to the first quarter of 2024. The increase in copper production was a result of a 43.6% increase in copper grade (0.62% vs 0.43%) offset by slightly lower recovery and throughput. Gold production in the first quarter of 2025 at Red Chris was up as result of higher gold grade in the mill feed (0.54 g/t gold versus 0.26 g/t gold) and better gold recovery (60.5% versus 53.6%) compared to the same quarter of the previous year. Imperial's 30% portion of Red Chris mine for the first quarter of 2025 was 6,937,947 pounds copper and 6,499 ounces gold. 100% Red Chris mine production Three Months EndedMarch 31 Three Months EndedMarch 31 2025 2024 Ore milled - tonnes 2,049,475 2,100,354 Ore milled per calendar day - tonnes 22,522 23,081 Grade % - copper 0.62 0.43 Grade g/t - gold 0.54 0.26 Recovery % - copper 82.6 83.4 Recovery % - gold 60.5 53.6 Copper - 000's pounds 23,126 16,660 Gold - ounces 21,663 9,507 Imperial's 30% share of exploration, development, and capital expenditures were $19.5 million in the March 2025 quarter compared to $20.4 million in the 2024 comparative quarter. Block Cave Feasibility Study The Red Chris Block Cave Feasibility Study is advancing as are permitting activities and some underground development work and other work to support the underground block cave project. The total development completed up to March 31, 2025 was 11,413 metres, of which 7,681 metres were completed on the Nagha declines and conveyor galleries. Huckleberry Mine Huckleberry operations ceased in August 2016 and the mine remains on care and maintenance status. Site personnel continue to focus on maintaining site access, water management, maintenance of site infrastructure and equipment, and mine permit compliance. Work is also planned in 2025 to investigate and update the tailings facility design for Huckleberry. For the March 2025 quarter, Huckleberry incurred idle mine costs comprised of $1.9 million in operating costs and $0.3 million in depreciation expense compared to $1.6 million in operating cost and $0.3 million in depreciation expense in the comparable quarter of 2024. TECHNICAL INFORMATION The technical and scientific information related to the Company's mineral projects has been reviewed and approved by Brian Kynoch, President of Imperial Metals, and a designated Qualified Person as defined by NI 43-101. EARNINGS AND CASH FLOW Select Quarter Financial Information Three Months Ended March 31 expressed in thousands of dollars, except share and per share amounts 2025 2024 Operations: Total revenues $176,619 $84,568 Net income (loss) $41,337 $(9,165 ) Net income (loss) per share $0.26 $(0.06 ) Diluted income (loss) per share $0.25 $(0.06 ) Adjusted net income (loss)(1) $41,337 $(9,165 ) Adjusted net income (loss) per share(1) $0.26 $(0.06 ) Adjusted EBITDA(1) $97,669 $9,874 Cash earnings(1)(2) $96,009 $9,896 Cash earnings per share(1)(2) $0.59 $0.06 Working capital (deficiency) $(153,300 ) $(159,132 ) Total assets $1,697,512 $1,426,794 Total debt (including current portion)(3) $333,050 $359,551 (1) Refer toNon-IFRS Financial Measuresfor further details. (2) Cash earnings is defined as the cash flow from operations before the net change in non-cash working capital balances, income and mining taxes, and interest paid. Cash earnings per share is defined as cash earnings divided by the weighted average number of common shares outstanding during the year. (3) Total debt consists of banker's acceptances, convertible and non-convertible debentures, loans and leases. NON-IFRS FINANCIAL MEASURES The Company reports on four non-IFRS financial measures: adjusted net loss, adjusted EBITDA, cash earnings and cash cost per pound of copper produced, which are described in detail below. The Company believes these measures are useful to investors because they are included in the measures that are used by management in assessing the financial performance of the Company. Adjusted net loss, adjusted EBITDA, cash earnings and cash cost per pound of copper are not standardized financial measures under IFRS and might not be comparable to similar financial measures disclosed by other issuers. Adjusted Net Income (Loss) and Adjusted Net Income (Loss) Per Share Adjusted net income (loss) is derived from operating net income (loss) by removing the gains or loss, resulting from acquisition and disposal of property, mark to market revaluation of derivative instruments not related to the current period, net of tax, unrealized foreign exchange gains or losses on long term debt, net of tax and other non-recurring items. Adjusted net income in the March 2025 quarter was $41.3 million ($0.26 per share) compared to an adjusted net loss of $9.2 million ($0.06 loss per share) in the 2024 comparative quarter. We believe that the presentation of Adjusted Net Loss helps investors better understand the results of our normal operating activities and the ongoing cash generating potential of our business. Adjusted EBITDA Adjusted EBITDA in the March 2025 quarter was $97.7 million compared to $10.3 million in the 2024 comparative quarter. We define Adjusted EBITDA as net income (loss) before interest expense, taxes, depletion, and depreciation, and as adjusted for certain other items. Cash Earnings and Cash Earnings Per Share Cash earnings in the March 2025 quarter was $96.0 million compared to $9.9 million in the 2024 comparative quarter. Cash earnings per share was $0.59 in the March 2025 quarter compared to $0.06 in the 2024 comparative quarter. Cash earnings and cash earnings per share are measures used by the Company to evaluate its performance; however, they are not terms recognized under IFRS. We believe that the presentation of cash earnings and cash earnings per share is appropriate to provide additional information to investors about how well the Company can earn cash to pay its debts and manage its operating expenses and investment. Cash earnings is defined as cash flow from operations before the net change in non-cash working capital balances, income and mining taxes paid, and interest paid. Cash earnings per share is the same measure divided by the weighted average number of common shares outstanding during the year. Cash Cost Per Pound of Copper Produced Management uses this non-IFRS financial measure to monitor operating costs and profitability. The Company is primarily a copper producer and therefore calculates this non-IFRS financial measure individually for its two operating copper mines, Mount Polley and Red Chris (30% share), and on a composite basis for these mines. Variations from period to period in the cash cost per pound of copper produced are the result of many factors including: grade, metal recoveries, amount of stripping charged to operations, mine and mill operating conditions, labour and other cost inputs, transportation and warehousing costs, treatment and refining costs, the amount of by-product and other revenues, the US$ to CDN$ exchange rate and the amount of copper produced. expressed in thousands, except cash cost per pound of copper produced Three Months Ended March 31, 2025 Mount Polley Red Chris Composite Cash cost of copper produced in US$ $(5,726) $9,578 $3,852 Copper produced – 000's pounds 8,904 6,938 15,842 Cash cost per lb copper produced in US$ $(0.64) $1.38 $0.24 expressed in thousands, except cash cost per pound of copper produced Three Months Ended March 31, 2024 Mount Polley Red Chris Composite Cash cost of copper produced in US$ $12,559 $20,945 $33,504 Copper produced – 000's pounds 7,355 4,998 12,353 Cash cost per lb copper produced in US$ $1.71 $4.19 $2.71 --- For detailed information, refer to Imperial's 2025 First Quarter Management's Discussion and Analysis available on and About Imperial Imperial is a Vancouver based exploration, mine development and operating company with holdings that include the Mount Polley mine (100%), the Huckleberry mine (100%), and the Red Chris mine (30%). Imperial also holds a portfolio of 23 greenfield exploration properties in British Columbia. Company Contacts Brian Kynoch | President | 604.669.8959Darb S. Dhillon | Chief Financial Officer | 604.669.8959 Cautionary Note Regarding Forward-Looking Statements Certain information contained in this news release are not statements of historical fact and are 'forward-looking' statements. Forward-looking statements relate to future events or future performance and reflect Company management's expectations or beliefs regarding future events and include, but are not limited to, specific statements regarding the Company's expectations with respect to: the continuation of work to advance preparation for the feasibility study, permitting activities and some underground development to support the Red Chris underground block cave project; Huckleberry's care and maintenance activities and 2025 plans to investigate and update the tailings facility design; and more general statements regarding the Company's expectations with respect to its business and operations; metal pricing and demand; fluctuation of revenues; metal production guidance and estimates; and expectations regarding the usefulness of non-IFRS financial measures including adjusted net income (loss), adjusted EBITDA, cash earnings and cash cost per pound of copper. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "outlook", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In making the forward-looking statements in this news release, the Company has applied certain factors and assumptions that are based on information currently available to the Company as well as the Company's current beliefs and assumptions. These factors and assumptions and beliefs and assumptions include hazards and risks disclosed with the 'Risk Factors' section of the Company's current Annual Information Form, and other public filings which are available for review on Imperial's SEDAR+ profile at Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended, many of which are beyond the Company's ability to control or predict. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and all forward-looking statements in this news release are qualified by these cautionary in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17-02-2025
- Business
- Yahoo
The past three years for Imperial Metals (TSE:III) investors has not been profitable
Imperial Metals Corporation (TSE:III) shareholders should be happy to see the share price up 24% in the last month. But that doesn't help the fact that the three year return is less impressive. After all, the share price is down 39% in the last three years, significantly under-performing the market. So let's have a look and see if the longer term performance of the company has been in line with the underlying business' progress. View our latest analysis for Imperial Metals To quote Buffett, 'Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace...' One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. During five years of share price growth, Imperial Metals moved from a loss to profitability. We would usually expect to see the share price rise as a result. So given the share price is down it's worth checking some other metrics too. We note that, in three years, revenue has actually grown at a 45% annual rate, so that doesn't seem to be a reason to sell shares. This analysis is just perfunctory, but it might be worth researching Imperial Metals more closely, as sometimes stocks fall unfairly. This could present an opportunity. You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values). We're pleased to report that the CEO is remunerated more modestly than most CEOs at similarly capitalized companies. It's always worth keeping an eye on CEO pay, but a more important question is whether the company will grow earnings throughout the years. It might be well worthwhile taking a look at our free report on Imperial Metals' earnings, revenue and cash flow. Imperial Metals provided a TSR of 7.2% over the last twelve months. But that return falls short of the market. The silver lining is that the gain was actually better than the average annual return of 5% per year over five year. This suggests the company might be improving over time. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Even so, be aware that Imperial Metals is showing 1 warning sign in our investment analysis , you should know about... For those who like to find winning investments this free list of undervalued companies with recent insider purchasing, could be just the ticket. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Canadian exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Yahoo
30-01-2025
- Business
- Yahoo
Imperial Provides Update on Mount Polley
VANCOUVER, British Columbia, Jan. 29, 2025 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (the 'Company' or 'Imperial') (TSX:III) reports that 2024 metal production from Mount Polley was 35.7 million pounds of copper and 39,108 ounces of gold. The mine met its targets of 34–37 million pounds for copper production and 37-41 thousand ounces for gold production. Red Chris production will be released when the reconciled information is received from Newmont Corporation. Mount Polley Mine – Production During the fourth quarter 1,660,937 tonnes of ore were treated (up 6% compared to Q4 2023). During the quarter 9.242 million pounds copper (up 11% from Q4 2023) and 9,564 ounces gold (down 7.6% from Q4 2023) were produced. Mount Polley Mine Production Three Months Ended December 31 Year Ended December 31 2024 2023 2024 2023 Ore milled - tonnes 1,660,937 1,567,491 6,741,127 5,948,239 Ore milled per calendar day - tonnes 18,054 17.038 18,418 16,297 Grade % - copper 0.306 0.302 0.292 0.287 Grade g/t - gold 0.256 0.286 0.263 0.311 Recovery % - copper 82.5 79.9 82.3 80.0 Recovery % - gold 69.9 71.8 68.6 70.4 Copper – 000's pounds 9,242 8,348 35,700 30,145 Gold – ounces 9,564 10,349 39,108 41,834 Mount Polley Mine – Exploration The Mount Polley Phase 2 exploration program in 2024, consisting of 6,758 metres in 27 diamond drill holes, had two objectives. First, complete near-pit drilling targeting the Springer Pit rim and the C2 Zone located just south of the now combined Springer-Cariboo pit and close to the concentrator. The second was to test high priority geophysical, structural, geochemical and geological targets outside of the active pit area. The highlight of this drilling campaign is hole C2-24-115 which intersected 127.5 metres grading 0.72% copper and 1.43 g/t gold, starting from 302.5 metres. The hole targeted a deeper, higher grade C2 mineralization that had been intersected by three historic drill holes. Mineralized intervals in these three holes included hole C2-11-101 with 34.5 metres of 0.54% copper and 0.95 g/t gold from 297.5 metres, hole C2-11-97 with 57.5 metres of 1.16% copper and 2.07 g/t gold from 340.0 metres, and hole C2-11-100 with 64.3 metres of 0.72% copper and 0.99 g/t gold from 382.5 metres. This mineralization is deep, but grades may be sufficient to consider underground mining. This zone is open to depth. The other Phase 2 holes in the C2 Zone targeted near to surface mineralization and include a notable interval of 222 metres grading 0.45% copper and 0.62 g/t gold starting from a depth of 18 metres (sub-crop) in diamond drill hole C2-24-110. The table below includes significant intervals in the 2024 C2 Zone drilling. Hole ID From (m) To (m) Width (m) Copper (%) Gold (g/t) C2-24-110 18 240 222 0.45 0.62 including 32.5 47.5 15 0.97 1.06 including 92.5 140 47.5 0.82 1.32 including 210 227.5 17.5 0.88 1.23 C2-24-111 47.5 90 42.5 0.44 0.61 including 75 87.5 12.5 0.74 1.25 C2-24-12 22.5 122.5 100 0.20 0.28 including 40 102.5 62.5 0.21 0.30 C2-24-113 28.9 135 106.12 0.21 0.27 including 47.5 67.5 20 0.31 0.31 including 97.5 130 32.5 0.35 0.51 and 167.5 178.9 11.41 0.43 0.35 C2-24-114 47.5 207.5 160 0.22 0.26 including 115 175 60 0.31 0.42 C2-24-115 302.5 430 127.5 0.72 1.43 including 315 330 15 0.84 1.34 including 346 367.5 21.5 1.34 2.65 including 390 417.5 27.5 1.02 1.73 Historically, a small pit was excavated in the C2 Zone adjacent to the ramp into the Cariboo pit, and mineralization in this zone has a high gold to copper ratio. The 2024 near surface drilling was conducted to see if the small C2 pit design could be expanded to take advantage of the current high gold price. The mineralization in this zone is centered approximately 900 metres southeast from the centre of the now combined Springer-Cariboo pit and close to the concentrator. Two holes were drilled from the rim of the north end of the Springer Pit to test an undrilled part of the Phase 5 pushback in the Springer Pit. Hole SD-24-201 intersected 93.7 metres grading 0.28% copper and 0.37 g/t gold from 188.8 metres and hole SD-24-202 intersected 82.5 metres grading 0.23% copper and 0.26 g/t gold from a depth of 100 metres. The results from these holes will be used to update the block model in this relatively undrilled part of the Springer deposit. The Gatehouse Zone was a blind target located 600 metres east of the mill and was targeted based on known structural trends, geology and geophysics. Hole GH-24-01 intersected 25 metres grading 0.30% copper and 0.25 g/t gold starting at 147.5 metres. Drilling intersected low to moderately mineralized Mount Polley breccia in 4 out of 5 of the holes and remains open in all directions. This zone intersected mineralization consisting of monzonite to monzodiorite with weak to strong breccia textures and strong reddening of potassium feldspar. The mineralization and geology are similar to the Southeast Zone (previously mined Mount Polley deposit) located 650 metres southeast of the Gatehouse Zone target along a geophysical trend. The drill holes in the Wishbone Zone were on blind targets located near the Wight Pit, approximately 2,500 metres north-northeast of the mill. The targets were based upon geophysics, geology, structure and soil geochemistry. Hole WB-24-264 intersected 4.86 metres grading 2.33% copper, 5.58 g/t gold and 12.18 g/t silver from 75.94 metres. Mineralization consisted of an intense magnetite and chalcopyrite breccia that is very similar to the Boundary Zone (previously mined Mount Polley deposit). The results of this exploration program will be assessed and follow up drilling considered. Brian Kynoch, Imperial's President has reviewed the production disclosures contained in this news release and is the designated Qualified Person as defined by National Instrument 43-101 ('NI 43-101'). Jim Miller-Tait, Imperial's VP Exploration, has reviewed this news release as the designated Qualified Person as defined by National Instrument 43-101 for the Mount Polley exploration program. Samples reported were analysed at Bureau Veritas Mineral Laboratories in Vancouver. A full QA/QC program using blanks, standards and duplicates was completed for all diamond drilling samples submitted to the labs. Significant assay intervals reported represent apparent widths. Insufficient geological information is available to confirm the geological model and true width of significant assay intervals. Diamond drill data, cross sections and plan view maps are available at --- About Imperial Imperial is a Vancouver based exploration, mine development and operating company with holdings that include the Mount Polley mine (100%), the Huckleberry mine (100%), and the Red Chris mine (30%). Imperial also holds a portfolio of 23 greenfield exploration properties in British Columbia. Imperial Contacts Brian Kynoch | President | 604.669.8959 Jim Miller-Tait | VP Exploration | 604.669.8959 Cautionary Note Regarding Forward-Looking Statements Certain information contained in this news release are not statements of historical fact and are 'forward-looking' statements. Forward-looking statements relate to future events or future performance and reflect Imperial management's expectations or beliefs regarding future events and include, but are not limited to statements regarding: expected gold head grades; meeting production targets; current and planned drilling programs at the Mount Polley Mine; consideration of the grades of certain C2 drill holes as support for possible underground mining; and the utilization of drill hole results to update the block model in the relatively undrilled section of the Springer deposit in the Phase 5 pushback. In certain cases, forward-looking statements can be identified by the use of words such as 'plans', 'expects' or 'does not expect', 'is expected', 'is targeted', 'targets', 'outlook', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved" or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Imperial to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In making the forward-looking statements in this news release, Imperial has applied certain factors and assumptions that are based on information currently available to Imperial as well as Imperial's current beliefs and assumptions. These factors and assumptions and beliefs and assumptions include, the risk factors detailed from time to time in Imperial's interim and annual financial statements and management's discussion and analysis of those statements, and the Company's current Annual Information Form, all of which are filed and available for review on SEDAR+ at Although Imperial has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended, many of which are beyond Imperial's ability to control or predict. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements and all forward-looking statements in this news release are qualified by these cautionary statements.
