Imperial Reports 2024 Financial Results
VANCOUVER, British Columbia, March 26, 2025 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (the "Company") (TSX:III) reports financial results for its fiscal year ended December 31, 2024.
"Operationally, the 2024 year was aligned with guidance. Copper production was higher at Mount Polley driven largely by higher through-put and copper grades, and both copper and gold production were higher at Red Chris due to higher copper and gold grades," said Brian Kynoch, President. "Consolidated production totalled 61,296,423 pounds copper and 57,051 ounces gold. The solid operational results along with higher metal prices helped drive strong financial results. The Company achieved record revenue of $494.4 million. In addition, adjusted EBITDA totalled $209.9 million and cash earnings totalled $211.2 million."
"Looking forward, we expect to produce 25.0 to 27.0 million pounds copper and 35,000 - 40,000 ounces gold at Mount Polley and 88.0 million pounds copper and 86,000 ounces gold at Red Chris (100%)."
Select Annual Financial Information
Year Ended December 31
expressed in thousands, except share and per share amounts
2024
2023
2022
Operations:
Total revenues
$
494,371
$
344,455
$
172,797
Net income (loss)
$
106,261
$
(36,715
)
$
(75,975
)
Net income (loss) per share
$
0.66
$(0.23
)$
$
(0.51
)
Diluted income (loss) per share
$
0.65
$
(0.23
)
$
(0.51
)
Adjusted net income (loss)
$
102,790
$
(36,092
)
$
(95,598
)
Adjusted net loss per share
$
0.64
$
(0.23
)
$
(0.64
)
Adjusted EBITDA
$
209,939
$
24,876
$
(63,131
)
Cash earnings
$
211,169
$
23,557
$
(52,873
)
Cash earnings per share
$
1.30
$
0.15
$
(0.36
)
Working capital deficiency deficiency
$
(197,543
)
$
(167,597
)
$
(65,091
)
Total assets
$
1,657,881
$
1,411,990
$
1,299,702
Total debt (including current portion)
$
372,851
$
319,787
$
197,788
Select Items Affecting Net Loss
presented on an after-tax basis
Year Ended December 31
2024
2023
2022
(000's)
(000's)
(000's)
Net income (loss) before undernoted items
$
143,163
$
(5,429
)
$
(67,063
)
Interest expense
(36,902
)
(31,332
)
(8,921
)
Foreign exchange gain on debt
-
46
9
Net Income (loss)
