ELYSEE Earns $1,023,604 ($0.04 per Share) During the Three Months Ended June 30, 2025

Executive Summary

• Elysee Development Corp. reported strong Q2 2025 financial results, posting a net income of $1,023,604 ($0.04 per share), a significant turnaround from the net loss of $341,799 in Q2 2024.
• For the six-month period ended June 30, 2025, the company recorded a net income of $2,946,468 ($0.10 per share), driven by substantial realized and unrealized gains on its investment portfolio.
• The company’s Net Asset Value (NAV) per share increased to $0.53 as of June 30, 2025, up from $0.42 at the end of 2024, supported by rising share prices of investee companies and strategic profit-taking.

Key Details

• Q2 2025 Financial Performance:
  • Net Income: $1,023,604 ($0.04 per share).
  • Net Investment Earnings: $1,195,572.
  • Realized Gain on Marketable Securities: $382,503.
  • Unrealized Profits on Marketable Securities: ~$900,000.
  • Unrealized Loss on Other Investments: $133,321 (primarily due to U.S. Vanadium LLC valuation adjustment and USD decline).
• Six-Month Period (Jan-Jun 2025) Financial Performance:
  • Net Income: $2,946,468 ($0.10 per share).
  • Net Investment Earnings: $3,320,311.
  • Realized Gain on Securities: $862,053.
  • Interest and Dividend Income: $107,688.
  • Unrealized Gain on Marketable Securities: $2,483,146.
  • General and Administrative Expenses: $373,843.
• Balance Sheet Metrics:
  • Net Asset Value (NAV) per share: $0.53 (as of June 30, 2025), up from $0.42 (Dec 31, 2024).
  • Cash on Hand: $2,250,761 (as of June 30, 2025); current cash position approximately $3 million.
  • Shares Outstanding: 28,283,113.
• Investment Activity & Portfolio Updates:
  • Calibre Mining Merger: Calibre Mining received an initial merger proposal from Equinox Gold on Feb 23, 2025. The bid was increased on April 24 to 0.35 shares of Equinox for every share of Calibre. Shareholders approved the merger on May 1, 2025. Equinox Gold is now the third-largest equity investment for Elysee.
  • Profit Taking: The company realized gains by reducing positions in Almonty Industries Inc., Dundee Precious Metals Inc., Agnico Eagle Mines Ltd., and Hudbay Minerals Inc.
  • Share Repurchases: Purchased 38,500 shares at a total cost of $11,805 pursuant to a Normal Course Issuer Bid during Q2 2025.
  • Significant Investments (as of June 30, 2025): U.S. Vanadium LLC, Arizona Sonoran Copper Company Inc., Equinox Gold Corp., Agnico Eagle Mines Limited, Wesdome Gold Mines Limited, and OceanaGold Corporation.
• Management Commentary:
  • CEO Guido Cloetens noted that strong gold and silver prices are supporting mining company share prices.
  • Highlighted M&A activity in the sector, citing takeover offers for Lumina Gold Corp, Calibre Mining Corp, and Golden Ocean Group Ltd.
  • Expressed optimism for Q3 despite lower copper prices in the USA and consolidating gold prices.

Notable Quotes

• "In Q2, we saw the continuation of a trend that started at the beginning of 2025. Strong gold and silver prices are supporting rising share prices of mining companies and profitable senior producers in particular."
• "Several of our investee companies received take-over offers in recent months including Lumina Gold Corp, Calibre Mining Corp, Golden Ocean Group Ltd. and others. We expect that this M&A activity will continue in the coming months."
• "Despite significantly lower copper prices in the USA and a consolidating gold price, Q3 is off to a strong start."