PPX Mining produces 21,574 tonnes YTD

Executive Summary

• PPX Mining reported record gross revenues of 11.62 million Peruvian sol and pretax income of 5.14 million sol for June 2025 at its Callanquitas mine (Igor project, Peru).
• The company received a net profit interest (NPI) payment of 3.9 million sol for the month, bringing YTD NPI to 5.10 million sol.
• Production to date: 21,584 tonnes mined (133 t/d), average grade 6.77 g/t AuEq (gold 6.49 g/t, silver 41.6 g/t), yielding 3,690 AuEq oz; CEO expects further upside once the in‑house CIL and flotation plant comes online.

Key Details

• Revenue & Income (June 2025): Gross revenue 11.62 M PEN; pretax income 5.14 M PEN.
• Net Profit Interest (NPI) Payment: 3.9 M PEN received for June 2025; cumulative YTD NPI 5.10 M PEN.
• Production Metrics YTD (through June): 21,584 t ore mined; average daily mining rate 133 t/d.
• Grade & Output: Average AuEq grade 6.77 g/t (gold 6.49 g/t, silver 41.6 g/t); total AuEq ounces extracted 3,690 oz.
• Metal Prices Used: Gold $3,100.29/oz; Silver $32.50/oz (U.S.).
• Cost Drivers: Elevated operating costs due to selective high‑grade mining, high transportation expenses, and reliance on third‑party processing.
• Future Cost Reduction: Anticipated substantial cost decline once the company‑owned CIL and flotation plant (currently under construction) becomes operational, eliminating selective mining, reducing transport, and removing third‑party processing fees.
• Operational Challenges Overcome: Intense rainy season in Q1 2025 impacted logistics; operation successfully managed these challenges.
• CEO Comment: John Thomas highlighted operational discipline, improved geological understanding, and expected production volume increase post‑plant commissioning.

Notable Quotes

“We are very pleased to report such strong results, which reflect operational discipline and a growing understanding of the underground structure at Callanquitas… Once our CIL and flotation plant becomes operational, we anticipate an increase in production volumes by eliminating the need for selective mining – lowering mining costs, substantially reducing transportation expenses and eliminating third party processing charges.” – John Thomas, President & CEO, PPX Mining Corp.