Business
ELYSEE Earns $1,922,864 ($0.07 per Share) During the Three Months Ended March 31, 2025
Vancouver, British Columbia--(Newsfile Corp. - May 8, 2025) - Elysee Development Corp. (TSXV: EL...
About this update from Elysee Development Corp
[{"type":"text","content":"ELYSEE Earns $1,922,864 ($0.07 per Share) During the Three Months Ended March 31, 2025Vancouver, British Columbia--(Newsfile Corp. - May 8, 2025) - Elysee Development Corp. (TSXV: ELC) (FSE: QLDN) is pleased to announce its unaudited financial results for the three months ended March 31, 2025 (\"Q1 2025\"). All dollar amounts are in Canadian funds. Highlights from the Q1 2025 results include:Net income of $1,922,864 ($0.07 per share) in Q1 2025 as compared to $278,436 ($0.01 per share) in Q1 2024;Total investment income of $2,124,739 in Q1 2025 as compared to $394,915 in Q1 2024; Net Asset Value per share increased to $0.49 per share as of March 31, 2025 from $0.42 per share on December 31, 2024; and Cash on hand as of March 31, 2025 of $ 1,886,015.During the first three months of 2025 Elysee's investment portfolio recorded a realized gain on securities of $479,550, interest and dividend income of $54,024 and an unrealized gain on securities of $1,583,261, offset by general and administrative expenses of $201,875. Guido Cloetens, President and CEO of Elysee Development Corp. made the following statement: \"The strong performance of the price of gold during the first quarter of 2025 had a positive impact on the gold mining sector, and gold producers in particular. Many exploration and development companies are still undervalued, however. In recent weeks some of the smaller companies Elysee owns have received take-over proposals. We're seeing a notable increase in M&A activity, and we expect this to continue if the price of gold remains strong.With a current cash position of almost $2 million we are well positioned to profit from opportunities that may arise in the coming months.\"In the latter part of Q1 2025 the Company realized gains by reducing its positions in Dundee Precious Metals Inc., Agnico Eagle Mines Ltd., Almonty Industries Inc. and others. Investments were made in Premium Resources Ltd., a gold-linked note issued by West Red Lake Gold Mines Ltd and several developing copper and gold companies. On February 23, 2025 Calibre Mining received an initial merger proposal from Equinox Gold. Equinox subsequently increased its bid on April 24 to 0.35 shares of Equinox for every share of Calibre Mining, with shareholders of both companies approving the merger on May 1, 2025. On completion, the new entity will become the thi...