Dundee Corporation Reports Q1 2025 Net Income Surge to $28.1M, Driven by Investment Gains

Reuters
14 May
Dundee Corporation Reports Q1 2025 Net Income Surge to $28.1M, Driven by Investment Gains

Dundee Corporation has released its financial results for the first quarter of 2025, reporting net earnings attributable to owners of the Corporation of $24.5 million, a significant increase from $7.2 million in the same period of 2024. This translated to earnings per share on a diluted basis of $0.25, compared to $0.07 per share in the first quarter of the previous year. The mining investments segment delivered net earnings before taxes of $29.8 million, up from $9.3 million in the first quarter of 2024. This was driven by investment gains in Ausgold Limited and Greenheart Gold Inc., with reported gains of $4.5 million and $3.8 million, respectively. Additionally, the sale of Dundee's remaining shares in G Mining Ventures Corp. generated net proceeds of $45.3 million, contributing to a $14.2 million investment gain. In terms of operational updates, Dundee completed the sale of its interest in Android Industries, LLC for cash proceeds of approximately $24.5 million, with additional proceeds expected contingent upon escrow releases. The transaction is anticipated to close in the second quarter of 2025. However, the Corporation's mining services segment faced challenges, posting a pre-tax loss of $1.7 million, compared to a $1.2 million loss in the same quarter last year. The corporate and others segment also reported a pre-tax loss of $4.1 million, up from a $0.4 million loss in the first quarter of 2024. Overall, Dundee Corporation's performance this quarter was underscored by strategic investment gains and operational transactions, offset by losses in certain segments.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Dundee Corporation published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9450796-en) on May 13, 2025, and is solely responsible for the information contained therein.

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