IMPACT Silver (IPT) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue reached $10.7 million, nearly double Q1 2024, driven by new Plomosas mine production and higher commodity prices.

• EBITDA turned positive at $1.0 million, a strong recovery from negative $3.6 million in Q1 2024.

• Net loss narrowed to $0.1 million from $4.4 million year-over-year, reflecting improved cost control and production volumes.

• Cash balance at quarter-end was $6.6 million with no structured debt.

Financial highlights

• Revenue per tonne sold at Zacualpan rose 50% year-over-year to $202.37, with direct costs per tonne up only 3%.

• Plomosas mine processed 14,265 tonnes in Q1 2025, up from 3,594 tonnes in Q1 2024.

• Silver production at Zacualpan increased 9% to 149,449 ounces; silver sales up 10% year-over-year.

• Average daily throughput at Plomosas rose from 39 tpd to 159 tpd year-over-year.

Outlook and guidance

• Management expects continued production growth in 2025, targeting 200 tpd at Plomosas.

• Company is negotiating new offtake agreements and anticipates further operational improvements.

• Focus remains on expanding zinc and gold output to enhance market presence.