Summary:
- Bear Creek Mining (BCEKF, Financial) reported a comprehensive loss of $13.3 million in Q1 2025.
- Production included 8,262 oz of gold and 36,466 oz of silver at the Mercedes mine.
- Company secured $10 million via private placement, faces $88.2 million working capital deficiency.
Bear Creek Mining Corporation (BCEKF) has released its financial and operational results for the first quarter of 2025, revealing significant challenges. The company produced 8,262 ounces of gold and 36,466 ounces of silver from its Mercedes mine. Despite generating $23.7 million in revenue, Bear Creek reported a comprehensive loss of $13.3 million, or $0.06 per share, during this period.
The company faces a working capital deficiency of $88.2 million, highlighting ongoing liquidity concerns. Key financial maneuvers include the completion of a $10 million private placement and the deferral of debt payments to December 2025. Additionally, Bear Creek has initiated a strategic review process to explore options for enhancing company value.
Production setbacks at the Mercedes mine were attributed to contractor underperformance in narrow vein mining, leading to elevated cash costs of $2,066 per gold ounce and an All-In Sustaining Cost (AISC) of $2,646 per gold ounce.
The company announced a new $6.5 million credit facility from Sandstorm for working capital and successfully deferred debt payment schedules with Sandstorm and Equinox, providing temporary relief as financial strategies are reconsidered.
As Bear Creek Mining navigates these operational and financial hurdles, the company remains focused on resolving contractor issues to improve production efficiency at the Mercedes mine and capitalizing on the strong gold market.
