Business
Trigon Metals Reports First Quarter Operating and Financial Results
TORONTO / Aug 21, 2024 / Business Wire / Trigon Metals Inc. (TSX-V: TM, OTCQB: PNTZF) (“Trigon” or the “Company”) is pleased to announce its operating and finan
About this update from Safi Silver Corp.
[{"type":"text","content":"TORONTO / Aug 21, 2024 / Business Wire / Trigon Metals Inc. (TSX-V: TM, OTCQB: PNTZF) (“Trigon” or the “Company”) is pleased to announce its operating and financial results for the three months ended June 30, 2024. Shareholders and interested parties are invited to join a conference call hosted by Trigon management, tomorrow, Thursday, August 22, 2024, at 11:00 a.m. Eastern time to discuss the results. Dial-in details for the call can be found near the end of this press release. All amounts are expressed in U.S. dollars, unless otherwise stated. Highlights The Kombat mine achieved first full quarter production with underground contribution in Q1 for fiscal year end in 2025, marking a major inflection point for the Company First quarter copper production was 2,302,726 pounds at C1 cash costs(1) of $3.23 per pound of copper produced. Silver production during the quarter was 33,399 ounces Positive Adjusted EBITDA (1) contribution of $1.8 million Net loss attributable to the shareholders of the Company of $2.1 million, or $0.05 per share on a basic and diluted basis compared to a net loss of $2.95 million, or $0.02 per share in the three months ended June 30, 2023 on a basic and diluted basis. Following excellent operating performance at the Kombat mine during the quarter, the Company is reaffirming all other 2025 fiscal year-end production, and C1 cash cost guidance ranges Jed Richardson, CEO and Executive Chairman of Trigon, commented, “Grade is king at Kombat, our first full quarter of contribution from our high grade underground is demonstrating the profitability at the mine. Achieving solid copper and silver production driven by favourable grade reconciliations have continued into the second quarter. This trend has allowed us to maintain our full-year copper and silver production guidance, which we expect will translate to achieving the lower end of our fiscal year 2025 cash cost guidance.” Mining & Milling Operations At the Kombat mine, the first quarter was marked by several record-breaking underground mining days. Underground ore tonnes mined for the quarter totalled 57,070 tonnes at an average grade of 2.05%, and open pit production of 29,715 tonnes at an average grade of 1.23%. A total of 70,483 tonnes were milled during the quarter at a 1.67% average grade resulting in the production of 1,045 tonnes of copper. The Com...