Kuya Silver (KUYA) Q4 2025 earnings summary

Executive summary

• Achieved record quarterly production at Bethania, exiting Q1 at 100 tpd and maintaining this rate into Q2, with a target ramp-up to 350 tpd by end of 2026 and 700 tpd by 2027.

• Strengthened Peru management team with the appointment of Edgardo Orderique as General Manager and other senior leaders to support operational scaling.

• Bethania mine is high-grade and heavily weighted to silver, generating 91% of revenue from silver sales.

• Multi-year growth plan includes aggressive exploration (20,000 meters drilling in 2026) and resource expansion to support production increases.

• Strong cash position of $27 million and no debt, providing financial flexibility for ongoing operations and expansion.

Financial highlights

• Q4 2025 revenue rose to $307,331 from $150,129 in Q4 2024, driven by increased concentrate sales.

• Q4 2025 net loss improved to $428,930 from $1,878,279 in Q4 2024, aided by higher revenue and VAT recovery.

• Ended Q4 with $9.3 million in cash and nearly $10 million in working capital; post-financing, cash increased to $27 million.

• Working capital and cash flow expected to improve as production ramps up and fixed costs are spread over higher output.

• Full-year 2025 net loss was $3,584,373, a 41% improvement over 2024, reflecting higher production and silver prices.

Outlook and guidance

• On track to reach 350 tpd by year-end 2026, with a significant production jump expected in Q4 as the new ramp is completed.

• Modernization program underway to improve underground haulage and material handling efficiency.

• 2026 exploration program expanded to 20,000 metres of drilling, targeting both underground and surface opportunities.

• No additional financing anticipated to reach phase one targets; current cash is sufficient even if timelines shift.

• Detailed production and cost guidance to be provided with Q1 financials in late May.