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Resource Estimate

Denarius Metals Files Third Quarter and Nine Months 2025 Interim Filings on SEDAR+

By The Northwire Desk — AI Analysis Nov 14, 2025 · 07:16 DMET · 0.52 DENARIUS METALS CORP.
DMET · Price

Executive Summary

  • Denarius Metals filed its unaudited interim condensed consolidated financial statements for the three and nine months ended September 30 2025, reporting a net loss of $20.9 M for the first nine months.
  • The company commenced early‑production mining at Zancudo (Colombia), shipped 878 t of material through Q3 2025 delivering ~207 oz Au and 4,641 oz Ag; received cash for 126 oz Au and 1,694 oz Ag.
  • Updated Mineral Resource Estimate for Zancudo adds 979 kt Indicated (217 k oz Au, 2.7 M oz Ag) and a 13 % tonnage increase in Inferred resources; permits approved for the 1,000 tpd processing plant with construction funded by a $5 M pre‑payment facility from Trafigura.

Key Details

  • Financial Results (Q3 2025):
  • Revenue: $0.456 M (vs. $0 in Q3 2024)
  • Net loss: $(11.666) M ($0.09 per share) vs. $(9.466) M YoY

  • Cash cost NG: $2,522/oz Au; realized gold price NG: $3,469/oz.

  • Nine‑Month Results (2025):

  • Revenue: $0.505 M
  • Net loss: $(20.921) M ($0.19 per share) vs. $(12.054) M YoY

  • Gold sold: 126 oz; average realized price NG $3,460/oz; cash cost NG $2,500/oz.

  • Zancudo Early Production (Q2‑Q3 2025):

  • Total shipments: 878 t (June–Sept 2025)
  • Average grades: 7.3 g/t Au, 164.5 g/t Ag → ~207 oz Au, 4,641 oz Ag shipped

  • Payability received: 126 oz Au, 1,694 oz Ag (30‑70 % Au, 20‑40 % Ag).

  • Processing Plant Permit: Industrial facility permit approved Oct 2025; construction to start immediately; plant expected online Q2 2026.

  • Prepayment Facility with Trafigura:

  • Second advance received: $2.5 M (Oct 2025) – total funded to date $5.0 M.

  • Up‑to additional $4.0 M available for plant construction.

  • Updated Mineral Resource Estimate (effective Oct 31 2025):

  • Indicated: 979 kt @ 6.9 g/t Au, 84 g/t Ag → 217 k oz Au, 2.7 M oz Ag.

  • Inferred: +13 % tonnage → 4.6 Mt @ 5.6 g/t Au, 84 g/t Ag → 832 k oz Au, 12.5 M oz Ag.

  • Aguablanca Project (Spain): All permits obtained; METSO Spain engaged for 5,000 tpd plant refurbishment; financing being arranged via METSO and RNR joint‑venture; expected restart within 12 months.

  • Financing Activity:

  • Two private placements in first nine months 2025 raised $7.8 M net proceeds.
  • Cash on hand as of Sept 30 2025: $1.0 M (≈ same as end‑2024).

  • Upcoming non‑brokered private placement announced Nov 13 2025: up to CA$12.75 M gross proceeds, targeted for 15,000 m infill drilling at Zancudo (2026), mine development acceleration, and working capital.

  • Convertible Debentures:

  • Share‑for‑interest consent process allowed issuance of 3,102,259 shares to settle monthly interest (June–Oct 2025).

  • Quarterly gold premium calculations capped at $4,000/oz starting 2026.

  • Exploration & Capital Expenditures: Q3 2025 capex $2.046 M; nine‑month capex $5.267 M (down from $9.465 M YoY).

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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