"2025 was a year of strong operational execution across our portfolio" said Brian Kynoch, President. "Both consolidated gold and copper production was at the higher end of our production guidance, with copper production totalling 58,645,098 pounds and gold production totalling 65,284 ounces. The strong operational results at both Mount Polley and Red Chris, along with higher metal prices helped drive strong financial results. The Company achieved record revenue of $691.8 million. In addition, adjusted EBITDA totalled $381.7 million and cash earnings totalled $374.5 million. The consolidated cash cost per pound of copper produced with by-product credits, was negative US$0.28 per pound."
"The Company was also able to achieve debt reduction of $194.1 million in 2025. Looking forward, at Mount Polley we expect to produce 19.0, 21.0 million pounds copper and 40,000, 44,000 ounces of gold and Red Chris mine production guidance (100%) is 60.0, 66.0 million pounds copper and 47,500, 52,500 ounces of gold for 2026."
FINANCIAL
Select Annual Financial Information
expressed in thousands, except share and per share amounts
Year Ended December 31
2025
2024
2023
Operations:
Total revenues
$
691,781
$
494,371
$
344,455
Net income (loss)
$
153,780
$
106,261
$
(36,715
)
Net income (loss) per share
$
0.91
$
0.66
$
$(0.23
)
Diluted income (loss) per share
$
0.89
$
0.65
$
(0.23
)
Adjusted net income (loss)
$
153,912
$
102,790
$
(36,092
)
Adjusted net income (loss) per share
$
0.91
$
0.64
$
(0.23
)
Adjusted EBITDA
$
381,682
$
207,754
$
22,939
Cash earnings
$
374,481
$
208,984
$
21,620
Cash earnings per share
$
2.23
$
1.29
$
0.14
Working capital deficiency
$
(121,614
)
$
(197,543
)
$
(167,597
)
Total assets
$
1,793,209
$
1,657,881
$
1,411,990
Total debt (including current portion)
$
178,793
$
372,851
$
319,787
Select Items Affecting Net Loss
Year Ended December 31
2025
2024
2023
(000's)
(000's)
(000's)
Net income (loss) before undernoted items
$
180,029
$
140,978
$
(7,366
)
Interest expense, net
$
(25,556
)
(34,717
)
(29,395
)
Foreign exchange gain on debt
-
-
46
Net Income (loss)
$
154,473
$
106,261
$
(36,715
)
