(13-08-2025) PPX Mining Corp. (TSX-V | BVL: PPX), Vancouver, an exploration company, engaged in the acquisition, exploration, and evaluation of mining properties in Peru, announced record gross revenues from its Callanquitas gold-silver mine, located at the Igor project in Trujillo, of S/ 11.62 million and a pre-tax profit of S/ 5.14 million in June alone. This was achieved through its mining partner, Proyectos La Patagonia S.A.C. (PLP), operator of Callanquitas.
As a result, through its Peruvian subsidiary, PPX received an interest payment on net profit interest (NPI) of S/ 3.9 million this month, bringing the accumulated NPI for the 2025 calendar year through June to S/ 5.10 million. According to the company, this marks the best monthly performance of the 2025 calendar year and of the previous 12 months.
These positive financial results were driven by favorable gold and silver prices, “despite high operating costs related to selective high-grade mining, elevated transportation expenses, and reliance on third-party processing facilities. PPX expects a substantial reduction in these costs once its own flotation and carbon-in-leach (CIL) plant, currently under construction, comes online, as well as overcoming the logistical and operational challenges caused by a heavy rainy season during Q1 2025”.
For 2025, the company has updated its production forecast, expecting sales at the lower end of the initial guidance range (reflecting the disruption in ore supply in Q2 2025 due to the Government-imposed curfew on artisanal miners in the north, and temporary road blockages in Q3 2025).