PPX Mining Drops After Q1 Profit Rises Despite Peru Mine Disruptions
PPX Mining (PPX.V) on Tuesday released first-quarter operational results for its Callanquitas Mine operation at the Igor Project in Peru.The company said results were achieved despite "challenging operating conditions", including heavy rainfall in the region and transportation restrictions caused by elevated water levels in the Chicama River, which impacted bridge access to the site.In three months ended March 31, PPX said the Callanquitas operation generated revenue of C$23.5 million, with gross profit of C$16.7 million, representing a gross margin of approximately 71%.Net income for the quarter amounted to C$11.8 million."The first quarter results demonstrate that PPX has carried its strong 2025 operating momentum into 2026. These results provide PPX with a solid financial foundation and positions the Company to advance its strategic priorities, while delivering continued value to shareholders," chief executive Ernest Mast said.On the development front, PPX said it is preparing to initiate its 2026 exploration program with a dual focus on expanding its oxide resource base while also advancing the delineation of sulphide resources.Company's shares were last seen down C$0.04 to C$0.20 on TSX Venture Exchange.Price: $0.20, Change: $-0.04, Percent Change: -16.67%
