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NGEx Minerals (NGEX) investor relations material

NGEx Minerals Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary12 Nov, 2025

Executive summary

  • Launched Phase 4 drill program at Lunahuasi in October 2025, targeting 25,000 metres with up to eight rigs, following a successful Phase 3 campaign that confirmed two new discoveries and extended high-grade mineralization zones.

  • Completed an oversubscribed C$175 million private placement in October 2025, significantly strengthening the treasury and providing flexibility for expanded exploration.

  • Closed the spin-out of LunR Royalties Corp., distributing 80.1% ownership to shareholders and retaining a 19.9% interest, with LunR holding royalties on key projects.

Financial highlights

  • Net loss of $28.7 million for Q3 2025, up from $9.8 million in Q3 2024, driven by increased exploration and G&A expenses.

  • Exploration and project investigation costs were $16.3 million in Q3 2025, compared to $6.2 million in Q3 2024.

  • Cash position at September 30, 2025 was $85.7 million, with short-term investments of $46.4 million and working capital of $125.6 million.

  • Total assets stood at $142.9 million as of September 30, 2025, down from $208.6 million at year-end 2024.

Outlook and guidance

  • Phase 4 drilling at Lunahuasi aims to define and expand high-grade zones, test new targets, and support a future Mineral Resource Estimate.

  • Initial assay results from Phase 4 expected toward the end of 2025, with program efficiency enhanced by multi-hole platforms.

  • Net proceeds from the private placement will fund ongoing and expanded exploration at Lunahuasi and Los Helados, as well as general corporate purposes.

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Frequently asked questions

NGEx Minerals Ltd. is a Canada-based exploration company primarily focused on the discovery and development of copper and gold deposits in South America. The company's portfolio includes the advanced Los Helados project, a significant copper-gold deposit situated in Chile's Region III, alongside other early-stage exploration projects in Argentina. NGEx Minerals is part of the Lundin Group, known for its extensive expertise in the mining sector. The company is headquartered in Vancouver, British Columbia, and its shares are listed on the TSX.

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