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Discovery Reports First Quarter 2025 Financial Results
TORONTO, May 13, 2025 (GLOBE NEWSWIRE) -- Discovery Silver Corp. (TSX: DSV, OTCQX: DSVSF) (&#...
About this update from Discovery Silver Corp
[{"type":"text","content":"Discovery Reports First Quarter 2025 Financial Results\n\n\n\n TORONTO, May 13, 2025 (GLOBE NEWSWIRE) --\n \n Discovery Silver Corp.\n \n (TSX: DSV, OTCQX: DSVSF) (“\n \n Discovery\n \n ” or the “\n \n Company\n \n ”) today announced financial results for the three months (“\n \n Q1 2025\n \n ”) ended March 31, 2025. All figures are stated in Canadian dollars unless otherwise noted.\n \n\n Tony Makuch, Discovery’s CEO, commented:\n \n “Q1 2025 was a breakout quarter for Discovery. On January 27, 2025, we announced the transformational acquisition of the Porcupine Complex (“\n \n\n\n Porcupine Operations\n \n\n\n ” or “\n \n\n\n Porcupine\n \n\n\n ”) in and near Timmins, Ontario. Through this acquisition, we have established our company as a new Canadian gold producer with substantial potential for growth in one of the world’s most prolific gold camps. The acquisition provides Discovery with valuable diversification by combining growing gold production in Canada with our Cordero project (“\n \n\n\n Cordero\n \n\n\n ” or the “\n \n\n\n Project\n \n\n\n ”) in Mexico, one of the industry’s leading silver development projects.\n \n\n\n\n “The market reaction to the acquisition has been resoundingly positive, with Discovery’s share price tripling during the first quarter and achieving a 250% increase on a year-to-date basis as of May 12, 2025. With the transaction closing on April 15, 2025, our focus now has turned to implementing investment plans to realize the tremendous upside we see at Porcupine, including the substantial exploration potential that exists at all sites and regionally over the 1,400 km\n \n\n\n 2\n \n\n\n land position.\n \n\n\n\n “Since the closing, there have already been significant developments. On April 24, 2025, we had our first gold pour, and to date have sold 2,800 ounces of gold for gross proceeds of approximately $13.0 million. We just completed a two-week mill shutdown, that had been previously scheduled for the purpose of replacing equipment in the thickening tanks. We used the occasion to advance plans to enhance mill performance, with multiple additional projects completed, primarily in the crushing, grinding and carbon handling circuits. The mill is now run...