Gunnison Copper reports Q1 profit as Johnson Camp ramp-up continues

Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF, FRA:3XS0) has reported a profitable archetypal 4th arsenic the institution precocious improvement of its Arizona copper assets, highlighted by a caller collaboration with Rio Tinto and Amazon Web Services and continued ramp-up activities astatine its Johnson Camp Mine.

The institution reported gross of $20.1 cardinal for the 3 months ended March 31, with gross nett of $11.4 cardinal and nett net of $1.7 million, oregon $0.004 per share.

During the quarter, Gunnison produced 2.1 cardinal pounds of copper cathode and processed ore with an mean copper people of 0.36%.

The institution mined 655,510 abbreviated tons of worldly during the 4th arsenic it continued ramp-up and optimization activities astatine the Johnson Camp Mine. Gunnison said accumulation astatine the cognition is expected to scope nameplate capableness by the extremity of 2026.

Among cardinal developments during the period, Gunnison announced a strategical collaboration with Rio Tinto and Amazon Web Services nether which AWS volition acquisition copper produced utilizing Nuton exertion astatine Johnson Camp for usage successful US. information centers. The statement besides includes enactment for bioleaching optimization done cloud-based information analytics.

The institution besides said it eliminated each outstanding secured indebtedness with Nebari, reducing its bequest indebtedness equilibrium from an archetypal main magnitude of $15 cardinal to zero. Gunnison said the determination strengthens its equilibrium expanse and supports its strategy of maintaining an equity-based superior operation portion advancing the Gunnison Project.

In addition, Gunnison announced results from an updated preliminary economical appraisal for the afloat owned Gunnison Copper Project. The survey outlined an after-tax nett contiguous value, discounted astatine 8%, of astir $2 billion, an interior complaint of instrumentality of 23%, and a payback play of 3.9 years.

The institution noted the PEA is preliminary successful quality and includes inferred mineral resources considered excessively speculative geologically to beryllium categorized arsenic mineral reserves, adding determination is nary certainty the assessment’s conclusions volition beryllium realized.

Gunnison besides announced enactment changes during the quarter, including the assignment of Craig Hallworth arsenic president and main enforcement serviceman effectual May 15.

Looking ahead, the institution said it plans to beforehand pre-feasibility survey enactment astatine the Gunnison Project, with the last survey targeted for the archetypal fractional of 2028. Gunnison is besides progressing licence amendment applications tied to the project’s unfastened pit improvement approach, with cardinal authorities permits targeted by the aforesaid timeframe.

The institution added it is advancing monetization of a $13.9 cardinal 48C taxation recognition allocation, with proceeds expected by mid-2026 pursuing completion of the certification process.