Risk Factors Update Summary
- Added copper to market price fluctuations affecting operations. Copper prices were $3.86/lb as of December 31, 2024.
- Pre-tax income increased to $67.0 million for the year ended December 31, 2023.
- Added a material weakness in internal control over financial reporting, requiring a remediation plan.
- Accumulated deficit decreased to $1.2 billion as of December 31, 2023.
- Reclamation obligations accrued increased to $43.8 million, with $42.4 million covered by surety bonds.
- Pre-tax losses decreased to $80.3 million for the year ended December 31, 2022, and $64.2 million for 2021.
- Outstanding long-term secured debt was $50.0 million, and unsecured promissory note was $15.0 million.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
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