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Earnings

PPX executive chairman Imrie resigns, still chairman

By The Northwire Desk — AI Analysis Feb 11, 2026 · 18:27 PPX · 0.345 PPX Mining Corp.
PPX · Price

Executive Summary

  • PPX Mining reported record Net Profit Interest (NPI) for November and December 2025 at its Callanquitas mine, with December achieving the highest monthly NPI to date.
  • The company achieved a record annual NPI of 38.1 million Peruvian sol ($15.3 million) for the full 2025 calendar year, driven by strong operational performance at the Igor project.
  • The company announced a leadership transition where Executive Chairman Brian Imrie will step down from his executive role but remain as Chairman of the Board.

Key Details

  • November 2025 Performance: PPX earned NPI of 7.2 million Peruvian sol ($2.9 million), exceeding the previous October record.
  • December 2025 Performance: PPX earned NPI of 8.7 million Peruvian sol ($3.5 million), marking the highest monthly NPI achieved by the company to date.
  • 2025 Annual Financials:
    • Total NPI: 38.1 million Peruvian sol ($15.3 million).
    • Total Revenues: 129.5 million Peruvian sol ($52.4 million).
    • Gross Profit: 66.8 million Peruvian sol ($26.9 million).
    • Pretax Earnings: 62.2 million Peruvian sol ($25.1 million).
  • Operational Context: Results are attributed to the mining partner, Proyectos La Patagonia SAC, and favorable mining conditions.
  • Development Update: Construction of the carbon-in-leach (CIL) and flotation processing plant is in final installation stages. The plant is expected to reduce mining, transportation, and processing costs while increasing throughput and metallurgical recoveries.
  • Leadership Change: Brian Imrie stepped down as Executive Chairman effective immediately but continues as Chairman of the Board.

Notable Quotes

  • "The record NPI results achieved in November and December, following an already strong October, demonstrate the strength and scalability of the Igor project and the consistency of our operating partner at Callanquitas. Delivering $15-million in NPI during 2025 is a significant milestone for PPX and validates our strategy of building a high-margin, cash-generating operation." — Ernest Mast, President and CEO
Read the original news release →

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