Trigon Metals has reaffirmed its 2025 copper production guidance for the Kombat Mine, targeting between 12.1 million and 13.4 million pounds.
The mine achieved its first full quarter of production with underground contributions in Q1 of the fiscal year ending in 2025, marking a significant milestone for the company.
In the first quarter ending June 30, 2024, Kombat Mine produced 2.3 million pounds of copper at a C1 cash cost of $3.23 per pound. Silver production for the quarter totaled 33,399 ounces.
Despite a positive adjusted EBITDA of $1.8 million, the company reported a net loss of $2.1 million attributable to shareholders.
The underground mine produced 57,070 tons of ore at an average grade of 2.05%, while the open-pit operations yielded 29,715 tons at an average grade of 1.23%. A total of 70,483 tons of underground ore was milled at an average grade of 1.67%, resulting in 1,045 tons of copper.
Trigon Metals officially commenced commercial production from the underground mine on April 30, 2024. CEO Jed Richardson emphasized the importance of ore grade at Kombat Mine, stating, “Our first full quarter of contribution from our high-grade underground is demonstrating profitability at the mine. Solid copper and silver production, driven by favorable grade reconciliations, has continued into the second quarter.”
Richardson added that this trend supports the company’s ability to maintain its full-year copper and silver production guidance, expecting to meet the lower end of the fiscal year 2025 cash cost targets.
