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Trigon Metals Reports Q4 2024 Financial Results, Operating Costs Fall to $3.35/lb Copper Produced at Kombat Mine, Namibia

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Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF) has reported its financial results for Q4 2024 and the fiscal year ended March 31, 2024. Key highlights include:

- Profit from continuing operations of USD $13,439,695 for Q4 2024

- Net loss of $1,474,523 for the full fiscal year

- C1 cash costs reduced to $3.35/lb on 1,255,652 lbs of copper production in Q4

- Total ore mined: 97,525 tonnes grading 1.15% copper

- Open pit mining: 85,365 tonnes at 0.98% copper

- Underground mining: 12,160 tonnes at 2.36% copper

The company's results were positively impacted by the weakness in the Namibian dollar and higher ore tonnage from pre-commercial underground operations.

Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF) ha riportato i risultati finanziari per il quarto trimestre del 2024 e per l'anno fiscale conclusosi il 31 marzo 2024. I principali punti salienti includono:

- Un profitto dalle operazioni continuative di USD $13.439.695 per il Q4 2024

- Una perdita netta di $1.474.523 per l'intero anno fiscale

- I costi in contante C1 ridotti a $3.35/lb con 1.255.652 lbs di produzione di rame nel Q4

- Totale minerale estratto: 97.525 tonnellate con un contenuto di rame dell'1.15%

- Estrazione a cielo aperto: 85.365 tonnellate a 0.98% di rame

- Estrazione sotterranea: 12.160 tonnellate a 2.36% di rame

I risultati dell'azienda sono stati positivamente influenzati dalla debolezza del dollaro namibiano e dal maggiore volume di minerale proveniente dalle operazioni sotterranee pre-commerciali.

Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF) ha informado sus resultados financieros para el cuarto trimestre de 2024 y el año fiscal que concluyó el 31 de marzo de 2024. Los puntos destacados incluyen:

- Ganancia de operaciones continuas de USD $13.439.695 para el Q4 2024

- Pérdida neta de $1.474.523 para todo el año fiscal

- Costos de efectivo C1 reducidos a $3.35/lb con una producción de cobre de 1.255.652 lbs en el Q4

- Total de mineral extraído: 97.525 toneladas con una ley de 1.15% de cobre

- Minería a cielo abierto: 85.365 toneladas a 0.98% de cobre

- Minería subterránea: 12.160 toneladas a 2.36% de cobre

Los resultados de la empresa se vieron positivamente afectados por la debilidad del dólar namibiano y por un mayor tonelaje de mineral proveniente de operaciones subterráneas pre-comerciales.

Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF)는 2024년 4분기 및 2024년 3월 31일 종료된 회계연도의 재무 결과를 보고했습니다. 주요 하이라이트는 다음과 같습니다:

- 2024년 4분기 지속적인 운영에서 USD $13,439,695의 이익

- 전체 회계연도 순 손실 $1,474,523

- 4분기 구리 생산 1,255,652 lbs에서 C1 현금 비용$3.35/lb로 감소

- 총 채굴된 광석: 구리 함량 1.15%의 97,525톤

- 노천 채굴: 구리 0.98%의 85,365톤

- 지하 채굴: 구리 2.36%의 12,160톤

회사의 결과는 나미비아 달러의 약세와 상업적 전 단계의 지하 운영에서 더 많은 광석 톤수에 긍정적인 영향을 받았습니다.

Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF) a rapporté ses résultats financiers pour le quatrième trimestre 2024 et pour l'exercice fiscal s'étant terminé le 31 mars 2024. Les faits saillants incluent :

- Bénéfice des opérations continues de USD $13,439,695 pour le Q4 2024

- Perte nette de $1,474,523 pour l'ensemble de l'exercice fiscal

- Coûts de liquidité C1 réduits à $3.35/lb sur une production de cuivre de 1.255.652 lbs dans le Q4

- Total du minerai extrait : 97.525 tonnes avec une teneur en cuivre de 1.15%

- Extraction à ciel ouvert : 85.365 tonnes à 0.98% de cuivre

- Extraction souterraine : 12.160 tonnes à 2.36% de cuivre

Les résultats de l'entreprise ont été positivement influencés par la faiblesse du dollar namibien et une tonnage minier plus élevé provenant des opérations souterraines pré-commerciales.

Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF) hat seine Finanzergebnisse für das 4. Quartal 2024 und das am 31. März 2024 endende Geschäftsjahr veröffentlicht. Zu den wichtigsten Highlights gehören:

- Gewinn aus fortgeführten Tätigkeiten in Höhe von USD $13.439.695 für Q4 2024

- Nettoverlust von $1.474.523 für das gesamte Geschäftsjahr

- Die C1-Bargeldkosten wurden auf $3.35/lb bei einer Kupferproduktion von 1.255.652 lbs im Q4 gesenkt

- Insgesamt gefördertes Erz: 97.525 Tonnen mit einem Kupfergehalt von 1.15%

- Tagebau: 85.365 Tonnen bei 0.98% Kupfer

- Untertagebau: 12.160 Tonnen bei 2.36% Kupfer

Die Ergebnisse des Unternehmens wurden positiv durch die Schwäche des namibischen Dollars und die höhere Erztonnage aus vorkommerziellen Untertageaktionen beeinflusst.

Positive
  • Profit from continuing operations of USD $13,439,695 for Q4 2024
  • C1 cash costs reduced to $3.35/lb from $3.96/lb in Q3 2024
  • Total ore mined (97,525 tonnes) exceeded planned 90,000 tonnes
  • Higher grade ore (2.36% copper) from underground mining operations
Negative
  • Net loss of $1,474,523 for the full fiscal year 2024

TORONTO--(BUSINESS WIRE)-- Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF) (“Trigon” or the “Company”) Trigon is pleased to report as of July 29, 2024, the Company has filed its financial statements for the year ended March 31, 2024 and details below the operational milestones for the quarter ending March 31, 2024.

Trigon reports a profit from continuing operations of USD $13,439,695 for the three months ended March 31, 2024 and a net loss of $1,474,523 for the twelve months ending March 31, 2024. Results were heavily skewed by the positive revaluation of the liability associated with the Sprott Streaming agreement, to align with the Company’s NI 43-101 SRK Feasibility Study (the Feasibility Study can be found under the Company’s profile at www.sedarplus.ca and on the Company’s website). However, improvements at the operational level where the beginnings of the impact of underground production had a dramatic impact on operating costs. The company reported C1 cash costs of $3.35/lb on 1,255,652 lbs of copper production in the quarter, a marked improvement over $3.96/lb reported in Q3 2024 (see filing dated February 27, 2024). The operating results were positively impacted by weakness in the Namibian dollar compared to the US dollar, the Company’s reporting currency, and higher ore tonnage with the contribution of the pre-commercial underground ore tonnes.

In the quarter, 85,365 tonnes of ore was mined from the open pit at 0.98% copper grade and 12,160 tonnes from the underground at 2.36% copper, totalling 97,525 of ore grading 1.15 %, besting the 90,000 tonnes of ore planned to be mined.

Commenting, Jed Richardson, CEO & Executive Chairman, “Fiscal 2024 was a momentous year for the Company, starting open pit mining, commissioning the mill and starting the underground mining operations at the tail end of the year. In a few short weeks, we will be reporting Q1 2025, completed June 30, 2024, we anticipate continuing our progress in demonstrating the profitability of the Kombat Mine and building Trigon Metals into a mid-tier copper mining company.”

Qualified Person
The scientific and technical information in this release has been reviewed and approved by Dr. Andreas Rompel, Pr.Sci.Nat. (400274/04), FSAIMM, the Company’s “qualified person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Trigon Metals Inc.
Trigon is a publicly-traded Canadian exploration and development company with its core business focused on copper and silver holdings in mine-friendly African jurisdictions. Currently, the company has operations in Namibia and Morocco. In Namibia, the Company holds an 80% interest in five mining licences in the Otavi Mountainlands, an area of Namibia widely recognized for its high-grade copper deposits, where the Company is focused on exploration and re-development of the previously producing Kombat Mine.

Non-IFRS Measures
C1 cost measure includes the cost of mining, milling, Namibian site level general and administrative expenses, and royalties but excludes capital costs, exploration costs, and corporate overheads. This measure primarily focuses on the direct costs of producing our copper concentrate product on a 100% payability basis. The C1 cost metric does not include costs like capital costs, exploration costs, corporate overheads, or any other costs not directly related to production. Management thus believes C1 is a measure that best reflects the efficiency and effectiveness of our Namibian mining operations. Please refer to our MD&A for the year-ended March 31, 2024 for a reconciliation of C1 costs.

Cautionary Notes
This news release may contain forward-looking statements. These statements include statements regarding the Company’s mining operations, the Company’s financial results, the timing of mining activities, the economic viability of the Kombat Mine, financial currency exchange, the Company’s strategies and the Company’s abilities to execute such strategies, the Company’s expectations for the Kombat Project, and the Company’s future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information, contact Investor Relations:

+1 647 276 6002

IR@trigonmetals.com

Website: www.trigonmetals.com

Source: Trigon Metals Inc.

FAQ

What was Trigon Metals' (PNTZF) C1 cash cost per pound of copper in Q4 2024?

Trigon Metals reported C1 cash costs of $3.35/lb on 1,255,652 lbs of copper production in Q4 2024, down from $3.96/lb in Q3 2024.

How much ore did Trigon Metals (PNTZF) mine from its open pit and underground operations in Q4 2024?

In Q4 2024, Trigon Metals mined 85,365 tonnes of ore from the open pit at 0.98% copper grade and 12,160 tonnes from underground at 2.36% copper, totaling 97,525 tonnes of ore grading 1.15%.

What was Trigon Metals' (PNTZF) profit from continuing operations for Q4 2024?

Trigon Metals reported a profit from continuing operations of USD $13,439,695 for the three months ended March 31, 2024 (Q4 2024).

What was Trigon Metals' (PNTZF) net loss for the fiscal year ended March 31, 2024?

Trigon Metals reported a net loss of $1,474,523 for the twelve months ending March 31, 2024.

TRIGON METALS INC

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