FINWIRES · TerminalLIVE
FINWIRES

Paramount Resources's Q1 Net Income, Sales Fall YoY

By

Paramount Resources' (POU.TO) first-quarter net income and sales volumes dropped year over year, the company said Tuesday.

Paramount reported a net income of C$53.2 million, or $0.36 per diluted share, in the three months ended March 31, slumping from $1.29 billion, or $8.74 per share, booked in the previous year.

Analysts expected Paramount to record earnings of $0.27 per share, according to a consensus estimate compiled by FactSet.

Sales fell to 48,255 barrels of oil equivalent per day (boe/d) from 54,409 boe/d.

Paramount increased its first-half production guidance range to 43,000-46,000 boe/d from 39,000-44,000 boe/d previously. This resulted in an upgraded annual 2026 production guidance of 48,000-52,000 boe/d from 46,000-51,000 boe/d.

The company cited the outperformance of the Willesden Green Duvernay property and the expected earlier start-up of the second phase of the Alhambra plant.

Paramount also lowered its 2026 capital expenditures guidance by $50 million to a range of $1 billion to $1.1 billion, reflecting stronger well performance and improved capital efficiencies.

In addition, Paramount revised its outlook for midpoint 2027 annual capital expenditures downward by $100 million to $1.0 billion.

Related Articles

Mining & Metals

Defense Metals Begins Pilot Flotation Test Program at SGS Lakefield for the Wicheeda Rare Earth Project

Defense Metals (DEFN.V) has begun a confirmatory pilot flotation plant test program for its Wicheeda Project, the company said on Tuesday.The program will be conducted at the SGS Canada Inc. metallurgical facility in Lakefield, Ontario, the company said.The company has engaged SGS Canada to undertake the pilot flotation program, which is designed to confirm the results of the 2021 pilot plant, further advance metallurgical development, generate flotation concentrate for hydrometallurgical pilot plant work, and support future engineering studies for the Wicheeda Project.The program will use approximately 30 tonnes of drill core material from the Wicheeda deposit in two sub-samples representing planned production from years 1 through 5 and year 6 onwards of the PFS mine plan, said the company."The primary objective of the pilot flotation campaign is to generate a representative rare earth flotation concentrate grading approximately 50% total rare earth oxides ("TREO")," said the company. "The concentrate produced during the pilot program will be used in a planned downstream hydrometallurgical pilot plant aimed at confirming and optimising the general process conditions of the PFS with the representative concentrate generated from this pilot flotation program."In addition to concentrate production, the continuous pilot-scale operation will generate representative process tailings for downstream testing and characterization, said the company and added that the pilot plant will also confirm metallurgical performance under continuous operating conditions while providing "valuable engineering and process design data for future project development activities.""SGS has completed pre-pilot characterization work, including head assays, grindability testing, laboratory-scale flotation testing, and pilot plant setup activities," said the company.Pilot plant operations are scheduled to begin on May 12, 2026, and are expected to continue for approximately five weeks."We are very pleased to commence this important pilot flotation campaign with SGS Lakefield, which marks another major step in advancing the Wicheeda Project toward development," said Mark Tory, Chief Executive Officer of Defense Metals. "The generation of a representative high-grade rare earth concentrate for downstream hydrometallurgical testing is a critical component in further de-risking the project and refining our process flowsheet. The pilot program will also provide valuable engineering and operational data needed to continue progressing Wicheeda as a potential North American source of rare earth materials."The company also announced that Michelle Tanguay has been appointed Vice President of Environment and Social Performance.The company's shares were last seen unchanged at $0.21 on the TSX Venture Exchange.Price: $0.21, Change: $-0.01, Percent Change: -2.38%

$DEFN.V
Mining & Metals

NOA Lithium Announces Collaboration With Drilling Contractor in Argentina

NOA Lithium Brines (NOAL.V) has formalized a collaboration framework with Argentina's Hidrotec, one of the country's most experienced drilling contractors in the lithium brine sector, the company said on Tuesday.The collaboration is expected to launch with the first two rotary wells for NOA's flagship Rio Grande project in Salta Province, Argentina. The parties may also explore additional forms of collaboration, including potential commercial participation."Formalizing this collaboration with Hidrotec is an important step in strengthening our execution capacity in Argentina," said NOA chief executive Gabriel Rubacha.NOA Lithium shares were last seen up $0.01, to $0.34, on the TSX Venture Exchange.

$NOAL.V
Mining & Metals

Canuc Resources Buys Claims Covering 271 Hectares Within East Sudbury Project

Canuc Resources (CDA.V) acquired 13 additional mining claims within its East Sudbury Project (ESP) in the Sudbury, Ontario region, covering 271 hectares, it said Tuesday.The additional claims are situated within the broader ESP mineralized corridor east of the McLaren Lake Fault Zone (MLFZ) and are considered to be prospective for critical and precious metals mineralization within a system that can form IOCG and affiliated mineral deposits, it said."The claims are located just east of the area being covered by the seismic survey undertaken by NRCan and will also be covered by the concurrent gravity gradiometric survey being flown by Bell Geospace," said Canuc Chief Executive Chris Berlet. "The advanced geophysics which is scheduled to cover the area of these newly acquired claims is expected to provide critical information relating to IOCG and MIAC deposit targets along and beside the McLaren Lake Fault Zone within the company's East Sudbury Project."Newly acquired claims have been integrated into ongoing exploration initiatives including the upcoming exploration and geophysical programs, the company said.Shares of the company were last seen unchanged at $0.81 on the TSX Venture Exchange.

$CDA.V